Common use of Commercially Reasonable Sale Clause in Contracts

Commercially Reasonable Sale. The Grantors agree that it is not commercially unreasonable for Bank (a) to restrict the prospective bidders on or purchasers of any of the investment property to a limited number of sophisticated investors who will represent and agree that they are purchasing for their own account for investment and not with a view to the distribution or sale of any of such investment property, (b) to fail to incur expenses reasonably deemed significant by Bank to prepare Collateral for disposition or otherwise to fail to complete raw material or work in process into finished goods or other finished products for disposition, (c) to fail to obtain third party consents for access to Collateral to be disposed of, or to obtain or, if not required by other law, to fail to obtain governmental or third party consents for the collection or disposition of Collateral to be collected or disposed of, (d) to fail to exercise collection remedies against account debtors or other persons obligated on Collateral or to fail to remove liens or encumbrances on or any adverse claims against Collateral, (e) to exercise collection remedies against account debtors and other persons obligated on Collateral directly or through the use of collection agencies and other collection specialists, (f) to advertise dispositions of Collateral through publications or media of general circulation, whether or not the Collateral is of a specialized nature, (g) to contact other persons, whether or not in the same business as the Grantors, for expressions of interest in acquiring all or any portion of the Collateral, (h) to hire one or more professional auctioneers to assist in the disposition of Collateral, whether or not the Collateral is of a specialized nature, (i) to dispose of Collateral by utilizing Internet sites that provide for the auction of assets of the types included in the Collateral or that have the reasonable capability of doing so, or that match buyers and sellers of assets, (j) to dispose of assets in wholesale rather than retail markets, (k) to disclaim disposition warranties, including disclaimers of warranties of title, possession, quiet enjoyment and the like, (l) to purchase insurance or credit enhancements to insure Bank against risk of loss, collection or disposition of Collateral or to provide to Bank a guaranteed return from the collection or disposition of Collateral, or (m) to the extent deemed appropriate by Bank, to obtain the services of other brokers, investment bankers, consultants and other professionals to assist Bank in the collection or disposition of any of the Collateral. The Grantors agree that the purpose of this Section is to provide non-exhaustive indications of what actions or omissions by Bank would fulfill the duties of Bank under the UCC of the State or any other relevant jurisdiction in the exercise by Bank of remedies against the Collateral and that other actions or omissions by Bank shall not be deemed to fail to fulfill such duties solely on account of not being indicated in this Section. Without limitation upon the foregoing, nothing contained in this Section shall be construed to grant any rights to the Grantors or to impose any duties on Bank that would not have been granted or imposed by this Security Agreement or by applicable law in the absence of this Section.

Commercially Reasonable Sale. The Grantors agree Grantor agrees that it is not commercially unreasonable for Bank Lender (a) to restrict the prospective bidders on or purchasers of any of the investment property to a limited number of sophisticated investors who will represent and agree that they are purchasing for their own account for investment and not with a view to the distribution or sale of any of such investment property, (b) to fail to incur expenses reasonably deemed significant by Bank Lender to prepare Collateral for disposition or otherwise to fail to complete raw material or work in process into finished goods or other finished products for disposition, (cb) to fail to obtain third party consents for access to Collateral to be disposed of, or to obtain or, if not required by other law, to fail to obtain governmental or third party consents for the collection or disposition of Collateral to be collected or disposed of, (dc) to fail to exercise collection remedies against account debtors or other persons obligated on Collateral or to fail to remove liens or encumbrances on or any adverse claims against Collateral, (ed) to exercise collection remedies against account debtors and other persons obligated on Collateral directly or through the use of collection agencies and other collection specialists, (fe) to advertise dispositions of Collateral through publications or media of general circulation, whether or not the Collateral is of a specialized nature, (gf) to contact other persons, whether or not in the same business as the GrantorsGrantor, for expressions of interest in acquiring all or any portion of the Collateral, (hg) to hire one or more professional auctioneers to assist in the disposition of Collateral, whether or not the Collateral collateral is of a specialized nature, (ih) to dispose of Collateral by utilizing Internet sites that provide for the auction of assets of the types included in the Collateral or that have the reasonable capability of doing so, or that match buyers and sellers of assets, (ji) to dispose of assets in wholesale rather than retail markets, (kj) to disclaim disposition warranties, including disclaimers of warranties of title, possession, quiet enjoyment and the like, (lk) to purchase insurance or credit enhancements to insure Bank Lender against risk of loss, collection or disposition of Collateral or to provide to Bank Lender a guaranteed return from the collection or disposition of Collateral, or (ml) to the extent deemed appropriate by BankLender, to obtain the services of other brokers, investment bankers, consultants and other professionals to assist Bank Lender in the collection or disposition of any of the Collateral. The Grantors agree Grantor agrees that the purpose of this Section is to provide non-exhaustive indications of what actions or omissions by Bank Lender would fulfill the duties of Bank Lender under the UCC of the State or any other relevant jurisdiction in the exercise by Bank Lender of remedies against the Collateral and that other actions or omissions by Bank Lender shall not be deemed to fail to fulfill such duties solely on account of not being indicated in this Section. Without limitation upon the foregoing, nothing contained in this Section shall be construed to grant any rights to the Grantors Grantor or to impose any duties on Bank Lender that would not have been granted or imposed by this Security Agreement or by applicable law in the absence of this Section.

Commercially Reasonable Sale. The Grantors agree Borrower agrees that it is not commercially unreasonable for Bank (a) to restrict the prospective bidders on or purchasers of any of the investment property to a limited number of sophisticated investors who will represent and agree that they are purchasing for their own account for investment and not with a view to the distribution or sale of any of such investment property, (b) to fail to incur expenses reasonably deemed significant by Bank to prepare Collateral for disposition or otherwise to fail to complete raw material or work in process into finished goods or other finished products for disposition, (c) to fail to obtain third party consents for access to Collateral to be disposed of, or to obtain or, if not required by other law, to fail to obtain governmental or third party consents for the collection or disposition of Collateral to be collected or disposed of, (d) to fail to exercise collection remedies against account debtors or other persons obligated on Collateral or to fail to remove liens or encumbrances on or any adverse claims against Collateral, (e) to exercise collection remedies against account debtors and other persons obligated on Collateral directly or through the use of collection agencies and other collection specialists, (f) to advertise dispositions of Collateral through publications or media of general circulation, whether or not the Collateral is of a specialized nature, (g) to contact other persons, whether or not in the same business as the GrantorsBorrower, for expressions of interest in acquiring all or any portion of the Collateral, (h) to hire one or more professional auctioneers to assist in the disposition of Collateral, whether or not the Collateral is of a specialized nature, (i) to dispose of Collateral by utilizing Internet sites that provide for the auction of assets of the types included in the Collateral or that have the reasonable capability of doing so, or that match buyers and sellers of assets, (j) to dispose of assets in wholesale rather than retail markets, (k) to disclaim disposition warranties, including disclaimers of warranties of title, possession, quiet enjoyment and the like, (l) to purchase insurance or credit enhancements to insure Bank against risk of loss, collection or disposition of Collateral or to provide to Bank a guaranteed return from the collection or disposition of Collateral, or (m) to the extent deemed appropriate by Bank, to obtain the services of other brokers, investment bankers, consultants and other professionals to assist Bank in the collection or disposition of any of the Collateral. The Grantors agree Borrower agrees that the purpose of this Section is to provide non-exhaustive indications of what actions or omissions by Bank would fulfill the duties of Bank under the UCC of the State or any other relevant jurisdiction in the exercise by Bank of remedies against the Collateral and that other actions or omissions by Bank shall not be deemed to fail to fulfill such duties solely on account of not being indicated in this Section. Without limitation upon the foregoing, nothing contained in this Section shall be construed to grant any rights to the Grantors Borrower or to impose any duties on Bank that would not have been granted or imposed by this Security Agreement or by applicable law in the absence of this Section.

Commercially Reasonable Sale. The Grantors agree Borrower agrees that it is not commercially unreasonable for Bank Lender (a) to restrict the prospective bidders on or purchasers of any of the investment property to a limited number of sophisticated investors who will represent and agree that they are purchasing for their own account for investment and not with a view to the distribution or sale of any of such investment property, (b) to fail to incur expenses reasonably deemed significant by Bank Lender to prepare Collateral for disposition or otherwise to fail to complete raw material or work in process into finished fmished goods or other finished products for disposition, (cb) to fail to obtain third party consents for access to Collateral to be disposed of, or to obtain or, if not required by other law, . to fail to obtain governmental or third party consents for the collection or disposition of Collateral to be collected or disposed of, (dc) to fail to exercise collection remedies against account debtors or other persons obligated on Collateral or to fail to remove liens or encumbrances on or any adverse claims against Collateral, (ed) to exercise collection remedies against account debtors and other persons obligated on Collateral directly or through the use of collection agencies and other collection specialists, (fe) to advertise dispositions of Collateral through publications or media of general circulation, whether or not the Collateral is of a specialized nature, (gf) to contact other persons, whether or not in the same business as the GrantorsBorrower, for expressions of interest in acquiring all or any portion of the Collateral, (hg) to hire one or more professional auctioneers to assist in the disposition of Collateral, whether or not the Collateral collateral is of a specialized nature, (ih) to dispose of Collateral by utilizing Internet sites that provide for the auction of assets of the types included in the Collateral or that have the reasonable capability of doing so, or that match buyers and sellers of assets, (ji) to dispose of assets in wholesale rather than retail markets, (kj) to disclaim disposition warranties, including disclaimers of warranties of title, possession, quiet enjoyment and the like, (lk) to purchase insurance or credit enhancements to insure Bank Lender against risk of loss, collection or disposition of Collateral or to provide to Bank Lender a guaranteed return from the collection or disposition of Collateral, or (m1) to the extent deemed appropriate by BankLender, to obtain the services of other brokers, investment bankers, consultants and other professionals to assist Bank Lender in the collection or disposition of any of the Collateral. The Grantors agree Borrower agrees that the purpose of this Section is to provide non-exhaustive indications of what actions or omissions by Bank would fulfill the duties of Bank Lender under the UCC of the State or any other relevant jurisdiction in the exercise by Bank Lender of remedies against the Collateral and that other actions or omissions by Bank Lender shall not be deemed to fail to fulfill such duties solely on account of not being indicated in this Section. Without limitation upon the foregoing, nothing contained in this Section shall be construed to grant any rights to the Grantors Borrower or to impose any duties on Bank Lender that would not have been granted or imposed by this Security Agreement or by applicable law in the absence of this Section.