Sell the Collateral definition

Sell the Collateral. Lender shall have full power to sell, lease, transfer, or otherwise deal with the Collateral or proceeds thereof in Lender's own name or that of Borrower and/or Guarantor. Lender may sell the Collateral at public auction or private sale. Unless the Collateral threatens to decline speedily in value or is of a type customarily sold on a recognized market, Lender will give Borrower, Guarantor and other persons as required by law, reasonable notice of the time and place of any public sale, or the time after which any private sale or any other disposition of the Collateral is to be made. However, no notice need be provided to any person who, after an Event of Default occurs, enters into and authenticates an agreement waiving that person's right to notification of sale. The requirements of reasonable notice shall be met if such notice is given at least 10 days before the time of the sale or disposition. All expenses relating to the disposition of the Collateral, including without limitation the expenses of retaking, holding, insuring, preparing for sale and selling the Collateral, shall become a part of the Obligations secured by this Agreement. To the extent permitted by applicable law, all such expenses will become a part of the Obligations and, at Lenders option, will: (i) be payable on demand; (ii) be added to the balance of the Loan and be apportioned among and be payable with any installment payments to become due during either (a) the term of any applicable insurance policy or (b) the remaining term of the Loan; or (iii) be treated as a balloon payment that will be due and payable at the Loan's maturity.
Sample 1

Examples of Sell the Collateral in a sentence

  • Sell the Collateral, at Lender's discretion, as a unit or in parcels, at one or more public or private sales.

  • Sell the Collateral, at Lender’s discretion, as a unit or in parcels, at one or more public or private sales.

  • Sell the Collateral, at Xxxxxx’s discretion, as a unit or in parcels, at one or more public or private sales.

  • Sell the Collateral, at Xxxxxx's discretion, as a unit or in parcels, at one or more public or private sales.

  • Sell the Collateral at either a public or private sale, or both, by way of one or more contracts or transactions, for cash or on terms.

  • Sell the Collateral, at Lxxxxx's discretion, as a unit or In parcels, at one or more public or private sales, or through any exchange or broker, at such prices and on such terms as Lender may deem best, for cash or on credit or future delivery, without assumption of any credit risk, without any further demand or notice upon Grantor for performance, without appraisal, without the intervention of any court and without any formalities other than those provided herein.

  • Sell the Collateral, at Lenders’ discretion, as a unit or in parcels, at one or more public or private sales.

  • Sell the Collateral at one or more commercially reasonable public sales, in one or several lots, with or without having such property at the sale, after giving Practice reasonable notice of the time and place of any public sale or of the time after which any private sale is to be made.

  • Sell the Collateral, at Lenders' discretion, as a unit or in parcels, at one or more public or private sales or distribute the Collateral as otherwise provided in this Agreement or the Loan Agreement.

  • Sell the Collateral, at Lxxxxx’s discretion, as a unit or in parcels, at one or more public or private sales.

Related to Sell the Collateral

  • Mortgage Collateral the “Collateral” as defined in the Mortgage Loan Agreement.

  • First Priority Collateral means all assets, whether now owned or hereafter acquired by the Borrower or any other Loan Party, in which a Lien is granted or purported to be granted to any First Priority Secured Party as security for any First Priority Obligation.

  • Possessory Collateral means any Shared Collateral in the possession of a Collateral Agent (or its agents or bailees), to the extent that possession thereof perfects a Lien thereon under the Uniform Commercial Code of any jurisdiction. Possessory Collateral includes, without limitation, any Certificated Securities, Promissory Notes, Instruments, and Chattel Paper, in each case, delivered to or in the possession of the Collateral Agent under the terms of the First-Lien Security Documents.

  • Permitted Security Interest means any Security Interest:

  • Primary Collateral With respect to any Cross-Collateralized Mortgage Loan, any Mortgaged Property (or portion thereof) designated as directly securing such Cross-Collateralized Mortgage Loan and excluding any Mortgaged Property (or portion thereof) as to which the related lien may only be foreclosed upon by exercise of the cross-collateralization provisions of such Cross-Collateralized Mortgage Loan.

  • First Priority Secured Parties means, with respect to each Type of Common Collateral, the First Priority Representative and the holders of the First Priority Obligations.

  • Permitted Security Interests means (i) any Security Interest for taxes, assessments or governmental charges or levies which relate to obligations not yet due and delinquent, (ii) easements, servitudes, encroachments and other minor imperfections of title which do not, individually or in the aggregate, detract from the value of or impair the use or marketability of any real property, and (iii) undetermined or inchoate Security Interests arising or potentially arising under statutory provisions which have not at the relevant time been filed or registered in accordance with applicable laws or of which written notice has not been given in accordance with applicable laws;

  • UCC Collateral is defined in Section 3.03.

  • Security Interest means any mortgage, charge, pledge, lien or other security interest including, without limitation, anything analogous to any of the foregoing under the laws of any jurisdiction;

  • Second Priority Collateral means any “Collateral” as defined in any Second Priority Debt Document or any other assets of the Borrower or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Second Priority Collateral Document as security for any Second Priority Debt Obligation.

  • Collateral has the meaning specified in the Granting Clause of this Indenture.

  • Senior Collateral means any “Collateral” as defined in any Credit Agreement Loan Document or any other Senior Debt Document or any other assets of the Company or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Senior Collateral Document as security for any Senior Obligations.

  • Indenture Collateral has the meaning set forth in the Granting Clause of the Indenture.

  • First Priority Security Documents means each agreement or document granting or purporting to xxxxx x Xxxx on any Common Collateral to secure First Priority Obligations.

  • Permitted Priority Liens means Liens permitted under any of the clauses (b), (c), (d), (e), (f) or (i) of Section 9.02.

  • First Priority Liens means all Liens that secure the First Priority Lien Obligations.

  • Purchase Money Security Interest means Liens upon tangible personal property securing loans to any Loan Party or Subsidiary of a Loan Party or deferred payments by such Loan Party or Subsidiary for the purchase of such tangible personal property.

  • Senior Collateral Agent means Citicorp USA, Inc., in its capacity as Senior Collateral Agent under the Senior Collateral Documents, and its successors.

  • Security Agreement Collateral means all "Collateral" as defined in the Security Agreement.

  • First Priority Lien means any Lien created by the First Priority Security Documents.

  • Pledged or Controlled Collateral has the meaning assigned to such term in Section 5.05(a).

  • Patent Collateral means all Patents, whether now owned or hereafter acquired by the Company that are associated with the Business.

  • Personal Property Collateral means all Collateral other than Real Property.

  • Second Priority Secured Parties means the Second Priority Representative, the Second Priority Creditors and any other holders of the Second Priority Obligations.

  • As-Extracted Collateral means “as-extracted collateral” as such term is defined in the Uniform Commercial Code as in effect on the date hereof in the State of New York.

  • Term Priority Collateral has the meaning set forth in the Intercreditor Agreement.