DEBTOR'S POSSESSION Sample Clauses

DEBTOR'S POSSESSION. Until default, Debtor may have possession of the Collateral and use it in any lawful manner not inconsistent with this Security Agreement. RACC may examine and inspect the Collateral, wherever located, at all reasonable times. At its option, but without assuming any obligation to do so, RACC may discharge taxes, liens or security interests, or other encumbrances levied or asserted against the Collateral, may place and pay for insurance thereon, may order and pay for the repair, maintenance and preservation thereof, and may pay any necessary filing or recording fees. Amounts paid by RACC under the preceding sentence shall constitute Obligations, shall be secured by the Collateral and shall be payable upon demand, together with interest at the Default Interest Rate as defined in the Restructuring Agreement until the Obligations are paid in full. Debtor shall at all times keep the Collateral, and any proceeds therefrom, separate and distinct from other property of the Debtor and shall keep accurate and complete records of the Collateral and any such proceeds.
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DEBTOR'S POSSESSION. Until the exercise of Agent’s power of sale or foreclosure upon any Senior Mortgaged Aircraft pursuant to Section 11 of this Agreement, Debtor may possess the Senior Mortgaged Aircraft and use it in any lawful manner not inconsistent with this Agreement or the Loan Documents. Agent or its agents may examine and inspect the Senior Mortgaged Aircraft, wherever located, at any reasonable time upon prior written notice to Debtor, on land and in flight.
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DEBTOR'S POSSESSION. Until default, Debtor may possess the Aircraft and use it in any lawful manner not inconsistent with this agreement. Debtor shall at all times keep the Aircraft and any proceeds therefrom separate and distinct from other property of the Debtor and shall keep accurate and complete records of the Aircraft and all such proceeds. Secured Party may examine and inspect the Aircraft, wherever located, at any reasonable time, on land and in flight.
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DEBTOR'S POSSESSION. Debtor may have possession of the Collateral and use it in any lawful manner not inconsistent with this Agreement, except when an Event of Default has occurred and is continuing. In the event Debtor fails to undertake any of the following actions within five (5) days after receipt of Secured Party's written demand for such action, Secured Party, at its option and without assuming any obligation to do so, may discharge taxes, liens, security interests or other encumbrances levied or asserted against the Collateral, may place and pay for insurance thereon, may order and pay for the repair, maintenance and preservation thereof, and may pay any necessary filing or recording fees. Any amounts paid by Secured Party under the preceding sentence shall be added to the unpaid principal balance under the Promissory Note, shall be secured by the Collateral, and shall be payable by Debtor upon demand by Secured Party together with interest at the rate provided for in the Promissory Note until paid in full.
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DEBTOR'S POSSESSION. Upon and during the continuation of an Event of Default, to the extent the same shall, from time to time, be in Debtor's possession, Debtor will hold the Collateral and all writings evidencing or relating to the Collateral in trust for Secured Party and, upon request or as otherwise provided herein, promptly deliver the same to Secured Party in the form received and at a time and in a manner satisfactory to Secured Party. With respect to the Collateral in Debtor's possession Debtor shall at Secured Party's request take such action as Secured Party in its Sole Discretion deems necessary or desirable to create, perfect and protect Secured Party's security interest in any of the Collateral and to preserve or enhance the value thereof.
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DEBTOR'S POSSESSION. Debtor may have possession of the Collateral and use it in any lawful manner not inconsistent with this Agreement, except when an Event of Default has occurred and is continuing. In the event Debtor fails to undertake any of the following actions, Secured Party, at its option and without assuming any obligation to do so, may discharge taxes, liens, security interests or other encumbrances levied or asserted against the Collateral, may place and pay for insurance thereon, may order and pay for the repair, maintenance and preservation thereof, and may pay any necessary filing or recording fees. Any amounts paid by Secured Party under the preceding sentence shall be added to the unpaid principal balance under the Loan Agreement, shall be secured by the Collateral, and shall be payable by Debtor upon demand by Secured Party together with interest at the rate provided for in the Loan Agreement until paid in full.
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Related to DEBTOR'S POSSESSION

  • GRANTOR'S RIGHT TO POSSESSION Until default, Grantor may have possession of the tangible personal property and beneficial use of all the Collateral and may use it in any lawful manner not inconsistent with this Agreement or the Related Documents, provided that Grantor's right to possession and beneficial use shall not apply to any Collateral where possession of the Collateral by Lender is required by law to perfect Lender's security interest in such Collateral. If Lender at any time has possession of any Collateral, whether before or after an Event of Default, Lender shall be deemed to have exercised reasonable care in the custody and preservation of the Collateral if Lender takes such action for that purpose as Grantor shall request or as Lender, in Lender's sole discretion, shall deem appropriate under the circumstances, but failure to honor any request by Grantor shall not of itself be deemed to be a failure to exercise reasonable care. Lender shall not be required to take any steps necessary to preserve any rights in the Collateral against prior parties, nor to protect, preserve or maintain any security interest given to secure the Indebtedness.

  • TERM; POSSESSION The Term of this Lease shall commence on the Commencement Date and shall end on the Expiration Date, unless extended or sooner terminated in accordance with this Lease. If Landlord is delayed in delivering possession of all or any portion of the Premises to Tenant as of the Commencement Date, Tenant will take possession on the date Landlord delivers possession, which date will then become the Commencement Date (and the Expiration Date will be extended so that the length of the Term remains unaffected by such delay). Subject to this Section 4, Landlord shall not be liable for any loss or damage to Tenant resulting from any delay in delivering possession due to the holdover of any existing tenant or other circumstances outside of Landlord’s reasonable control. In the event that the Tenant Improvements are not Substantially Completed within one hundred (100) days following the date that Landlord receives a building permit to commence the Tenant Improvements in the Premises (the “Delivery Date”), subject to Tenant Delay or force majeure (in the event of either, the Delivery Date shall be extended by one (1) day for each one (1) day of Tenant Delay or force majeure), Landlord shall credit Tenant against Minimum Annual Rent due under this Lease an amount equal to the holdover portion of Tenant’s existing rental obligations under Tenant’s existing Lease actually incurred by Tenant following the Delivery Date, which Tenant represents to Landlord is equal to $17,031.13 per month. Notwithstanding anything in this Lease to the contrary, if the Commencement Date has not occurred on or before one hundred ninety (190) days following the date that Landlord receives a building permit for the Tenant Improvements, for any reason other than Tenant Delay or force majeure, then Tenant shall have the right to terminate this Lease by written notice to Landlord, as Tenant’s sole and exclusive remedy with respect to such delay, except as provided above, subject to Tenant giving Landlord thirty (30) days’ advance written notice of its intention to terminate this Lease if Substantial Completion shall not occur within such thirty (30) day period, in which event all amounts prepaid or deposited by Tenant hereunder shall be promptly returned to Tenant.

  • GRANTOR'S RIGHT TO POSSESSION AND TO COLLECT ACCOUNTS Until default and except as otherwise provided below with respect to accounts, Grantor may have possession of the tangible personal property and beneficial use of all the Collateral and may use it in any lawful manner not inconsistent with this Agreement or the Related Documents, provided that Grantor's right to possession and beneficial use shall not apply to any Collateral where possession of the Collateral by Lender is required by law to perfect Lender's security interest in such Collateral. Until otherwise notified by Lender, Grantor may collect any of the Collateral consisting of accounts. At any time and even though no Event of Default exists, Lender may exercise its rights to collect the accounts and to notify account debtors to make payments directly to Lender for application to the Indebtedness. If Lender at any time has possession of any Collateral, whether before or after an Event of Default, Lender shall be deemed to have exercised reasonable care in the custody and preservation of the Collateral if Lender takes such action for that purpose as Grantor shall request or as Lender, in Lender's sole discretion, shall deem appropriate under the circumstances, but failure to honor any request by Grantor shall not of itself be deemed to be a failure to exercise reasonable care. Lender shall not be required to take any steps necessary to preserve any rights in the Collateral against prior parties, nor to protect, preserve or maintain any security interest given to secure the Indebtedness.

  • Quiet Possession Upon Tenant paying the rent reserved hereunder and observing and performing all of the covenants, conditions and provisions on Tenant's part to be observed and performed hereunder, Tenant shall have quiet possession of the Premises for the entire term hereof, subject to all the provisions of this Lease.

  • Possession of the Property The Parties hereby agree that the exclusive possession of the Property shall be delivered by the Seller to the Buyer on .

  • Possession of Collateral Agent and Secured Parties appoint each Lender as agent (for the benefit of Secured Parties) for the purpose of perfecting Liens in any Collateral held or controlled by such Lender, to the extent such Liens are perfected by possession or control. If any Lender obtains possession or control of any Collateral, it shall notify Agent thereof and, promptly upon Agent’s request, deliver such Collateral to Agent or otherwise deal with it in accordance with Agent’s instructions.

  • Possession and Control The Grantor has exclusive possession and control of its Equipment and Inventory.

  • Personal Property Collateral The Administrative Agent shall have received, in form and substance satisfactory to the Administrative Agent:

  • Possession and Use of Collateral Subject to the provisions of the Security Documents, the Issuer and the Guarantors shall have the right to remain in possession and retain exclusive control of and to exercise all rights with respect to the Collateral (other than monies or U.S. government obligations deposited pursuant to Article VIII, and other than as set forth in the Security Documents and this Indenture), to operate, manage, develop, lease, use, consume and enjoy the Collateral (other than monies and U.S. government obligations deposited pursuant to Article VIII and other than as set forth in the Security Documents and this Indenture), to alter or repair any Collateral so long as such alterations and repairs do not impair the creation or perfection of the Lien of the Security Documents thereon, and to collect, receive, use, invest and dispose of the reversions, remainders, interest, rents, lease payments, issues, profits, revenues, proceeds and other income thereof.

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