Banks Rights and Remedies Sample Clauses
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Banks Rights and Remedies. 8.1 Upon the occurrence of an Event of Default by Borrower under this Agreement, Bank may, at its election, without notice of its election and without demand, do any one or more of the following, all of which are authorized by Borrower:
a. Declare Borrower’s Indebtedness, whether evidenced by this Agreement, installment notes, demand notes or otherwise, immediately due and payable to Bank;
b. Cease advancing money or extending credit to or for the benefit of Borrower under this Agreement, or any other agreement between Borrower and Bank;
c. Terminate this Agreement as to any future liability or obligation of Bank, but without affecting Bank’s rights and security interests in the Collateral, and the Indebtedness of Borrower to Bank;
d. Without notice to or demand upon Borrower, make such payments and do such acts as Bank considers necessary or reasonable to protect its security interest in the Collateral. Borrower agrees to assemble the Collateral if Bank so requires and to make the Collateral available to Bank as Bank may designate. Borrower authorizes Bank to enter the premises where the Collateral is located, take and maintain possession of the Collateral and the premises (at no charge to Bank), or any part thereof, and to pay, purchase, contest or compromise any encumbrance, charge or lien which in the opinion of Bank appears to be prior or superior to its security interest and to pay all expenses incurred in connection therewith;
e. Without limiting Bank’s rights under any security interest, Bank is hereby granted a license or other right to use, without charge, Borrower’s labels, patents, copyrights, rights of use of any name, trade secrets, trade names, trademarks and advertising matter, or any property or a similar nature as it pertains to the Collateral, in completing production of, advertising for sale and selling any Collateral and Borrower’s rights under all licenses and all franchise agreement shall inure to Bank’s benefit, and Bank shall have the right and power to enter into sublicense agreements with respect to all such rights with third parties on terms acceptable to Bank;
f. Ship, reclaim, recover, store, finish, maintain, repair, prepare for sale, advertise for sales and sell (in the manner provided for herein) the Inventory;
g. Sell or dispose 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, in such manner and at such places (including Borrower’s premises) ...
Banks Rights and Remedies. If an Event of Default shall have occurred and not been cured or waived in accordance with the terms hereof, Bank shall have the following rights and powers and may, at its option, without notice of its election and without demand, do any one or more of the following, all of which are authorized by Debtor:
Banks Rights and Remedies. (a) If an Event of Default with respect to a Series occurs hereunder and is continuing, then, in addition to having the right to exercise any rights and remedies available to a secured creditor under applicable law, Bank shall have (i) the right (without being required to give any notice to the Trust except as may be required in Section 18(c) below) to sell, publicly or privately, at a place of Bank's choosing, any or all of the Collateral from such Series (including items included in the Collateral pursuant to Section 7(j) above), and (ii) the right to apply the proceeds of such sale (and any other Collateral consisting of cash), in such order as bank in its sole and absolute discretion may determine, to the payment of the principal of, and accrued interest on, the Loans obtained for such Series and of any other amounts that are under this Agreement payable by the Trust on account of such Series.
(b) If any Pledged Securities or other items of Collateral from a Series are, in whole or in part, actually convertible into or exchangeable for securities or other property, then, upon the occurrence of an Event of Default with respect to such Series and for so long as it continues, Bank shall have the right, in its sole and absolute discretion, instead of selling such Pledged Securities or other items of Collateral as provided in Section 18(a) above, to convert or exchange them pursuant to the terms applicable thereto, to apply any cash received by Bank in such conversion or exchange to the payment of the principal of and accrued interest on the Loans obtained for such Series and of any other amounts payable by the Trust under this Agreement on account of such Series, and to sell as provided in Section 18(a) above any securities or other property it receives in such conversion or exchange.
(c) If any of the Pledged Securities and other items of Collateral from each Series are of a type customarily sold on recognized markets, then no notification to the Trust of any public or private sale thereof by Bank is required, provided, however, that if any such notice is required by applicable law with respect to any such sale, then one Business Day's notice thereof shall be reasonable notification to the Trust.
Banks Rights and Remedies. 8.1 Upon the occurrence of an Event of Default by Borrower under this Agreement, Bank may, at its election, without notice of its election and without demand, do any one or more of the following, all of which are authorized by Borrower:
a. Declare Borrower's Obligations, whether evidenced by this Agreement, installment notes, demand notes or otherwise, immediately due and payable to the Bank;
Banks Rights and Remedies. (a) If an Event of Default occurs hereunder and is continuing, then, in addition to having the right to exercise any rights and remedies available to a secured creditor under applicable law, Bank shall have (i) the right to have its affiliates deliver to Bank all such Collateral as is not required to be subject to a Lien in favor of such affiliates, (ii) the right (without being required to give any notice to Borrower except as may be required in Section 18(c) below) to sell, publicly or privately, at a place of Bank’s choosing, any or all of the Collateral (including items included in the Collateral pursuant to Sectiopn 7(j) above) and (iii) the right to apply the proceeds of such sale and any other cash that is part of the Collateral, in such order as Bank in its sole and absolute discretion may determine, to the payment of the principal of, and accrued interest on, the Loans and of any other amounts payable by Borrower under this Agreement.
(b) If any Pledged Securities or other items of Collateral are, in whole or in part, actually convertible into or exchangeable for securities or other property, then, upon the occurrence of an Event of Default and for so long as it continues, Bank shall have the right, in its sole and absolute discretion, instead of selling such Pledged Securities or other items of Collateral as provided in Section 18(a) above, to convert or exchange them pursuant to the terms applicable thereto, to apply any cash received by Bank in such conversion or exchange to the payment of the principal of and accrued interest on the Loans and of any other amounts payable by Borrower under this Agreement, and to sell as provided in Section 18(a) above any securities or other property it receives in such conversion or exchange.
(c) If any of the Pledged Securities and other items of Collateral are of a type customarily sold on recognized markets, then no notification to Borrower of any public or private sale thereof by Bank is required, provided, however, that if any such notice is required by applicable law with respect to any such sale, then one Business Day’s notice thereof shall be reasonable notification to Borrower.
Banks Rights and Remedies. Events of Default as to the Project Sponsors 13 Section 7.2 Remedies as to the Project Sponsors 14 Section 7.3 Remedies Cumulative; Non-waiver 15
Banks Rights and Remedies. Upon an Event of Default. Upon the occurrence of an Event of Default which has not been waived by the Bank, the Bank shall have the following rights and remedies to be exercised within their discretion, without further demand, presentment, protest, advertisement, or notice of any kind, all of which are hereby expressly waived by the Obligors except as specified below:
(a) The Bank may exercise any and all of the rights and remedies provided in this Agreement, the other Loan Documents, the Uniform Commercial Code and other applicable law in force and effect in the State of New Jersey and in any other jurisdiction where any Obligor maintains property or assets;
(b) The Bank may elect (i) not to make any further Advances under and pursuant to this Agreement or otherwise and all of the Obligations of the Borrower to the Bank shall immediately become due and payable and (ii) to increase the rate of interest with respect to all Obligations to the Default Rate;
(c) The Bank may receive, open and dispose of mail addressed to the Obligors and notify the Post Office authorities to change the address for delivery of mail addressed to the Obligors to such address as the Bank may designate;
(d) The Bank may require the Obligors (and the Obligors hereby agree), at the Obligors' own expense, to assemble or to cause to be assembled the Collateral and make it available at places which the Bank may designate, whether at the Obligors' premises or elsewhere, and to allow the Bank to take possession or dispose of the Collateral;
(e) The Bank may forthwith collect, receive, appropriate and realize upon the Collateral or any part thereof, and/or, forthwith, without advertisement, sell, lease, assign, give an option or options to purchase, or sell or otherwise dispose of, the Collateral (or contract to do so), or any part thereof or any interest which the Obligors may have therein, in one or more parcels at public or private sale or sales, at any exchange or broker's board or at any of the Bank's offices or elsewhere at such prices as they may deem best in their discretion exercised in a commercially reasonable manner, for cash or on credit or for future delivery without assumption of any credit risk, and if notice of such sale or of other action by the Bank is required by applicable law, the Obligors agree that five (5) days' notice (which notification shall be deemed given when mailed, postage prepaid, addressed to the Borrower at its principal place of business set forth in Su...
Banks Rights and Remedies. G▇▇▇ ▇▇▇▇\PA\10260242.6 1090371-981500 15
Banks Rights and Remedies. Upon the occurrence of an Event of Default:
Banks Rights and Remedies. The following rights and remedies are available to Bank as to all Loans then outstanding and any SLFs pertaining thereto: