Foreclosure of Collateral. In the event of a foreclosure of any Collateral, Agent may issue a credit bid for the account of all Lenders, up to the amount of the then outstanding Obligations. Any Property acquired at such a foreclosure (or acquired by Agent through a conveyance in lieu of foreclosure) shall be held and administered by Agent for the benefit of all Lenders pursuant to the terms of this Article IX.
Foreclosure of Collateral. Upon the earlier of (a) the end of the Forbearance Period or (b) the occurrence of a Default, the Bank shall have the right to foreclose, sell, lease or otherwise dispose of the Collateral in accordance with the terms of the Loan Documents, this Agreement, and applicable law. The Company hereby consents and agrees to such foreclosure, sale, lease or other disposition of the Collateral by the Bank, its agents, or its designees. The Company hereby waives, renounces and forever relinquishes all right to notice prior to disposition of the Collateral required by the Loan Documents or applicable law.
Foreclosure of Collateral. Nothing contained herein or in any other Transaction Document shall be construed as requiring the Agent and the Lenders to resort to any Collateral for the satisfaction of any of the Obligations of the Borrower in preference or priority to any other Collateral, and the Agent and the Lenders may seek satisfaction out of the Collateral or any part thereof, in their absolute discretion, in respect of the Obligations of the Borrower. In addition, while an Event of Default has occurred and is continuing, the Agent, for its benefit and for the ratable benefit of the Lenders, shall have the right from time to time to partially foreclose all or any part of the Collateral in any manner and for any amounts secured by the Transaction Documents then due and payable as determined by the Majority Lenders in their sole discretion including, without limitation, the following circumstances: (i) in the event the Borrower defaults beyond any applicable grace period in the payment of one or more payments of principal or interest, the Agent, for its benefit and for the ratable benefit of the Lenders, may foreclose all or any part of the Collateral to recover such delinquent payments, or (ii) in the event the Majority [***] = Certain information has been excluded from this exhibit because it is both not material and would likely cause harm to the company if publicly disclosed. Lenders elect to accelerate less than the entire outstanding principal balance of the Advances, the Agent, for its benefit and for the ratable benefit of the Lenders, may foreclose all or any part of the Collateral to recover so much of the principal balance of the Advances as the Majority Lenders may elect to accelerate and such other sums secured by the Transaction Documents as the Majority Lenders may elect. Notwithstanding one or more partial foreclosures, the Collateral shall remain subject to the Transaction Documents to secure payment of sums secured by the Transaction Documents and not previously recovered by the Agent and the Lenders.
Foreclosure of Collateral. 56 9.18 Procedures for Notices and Approvals.................56 9.19
Foreclosure of Collateral. 63 9.17 Procedures for Notices and Approvals..................64 9.18 Other Relationships With Borrower.....................64
Foreclosure of Collateral. Notwithstanding any security interest now held or hereafter acquired by the Creditor, the Lender may take possession of, sell, dispose of, and otherwise deal with all or any part of the Collateral, and may enforce any right or remedy available to it with respect to the Collateral, all without notice to or consent of the Creditor except as specifically required by applicable law. The Lender shall have no duty to preserve, protect, care for, insure, take possession of, collect, dispose of, or otherwise realize upon any of the Collateral, and in no event shall the Lender be deemed the Creditor's agent with respect to the Collateral. All proceeds received by the Lender with respect to any Collateral may be applied, first, to pay or reimburse the Lender for all costs and expenses (including reasonable attorneys' fees) incurred by the Lender in connection with the collection of such proceeds, and, second, to any indebtedness secured by the Lender's security interest in that Collateral in any order that it may choose.
Foreclosure of Collateral. In the event a default occurs under this Agreement, Note or Pledge Agreement, BBW may, from time to time, upon ten days' notice as to the time, place and date of sale, and without any liability for diminution in price which may have occurred, sell in a commercially reasonable manner all or any part of time Pledged Stock for such price and upon such terms as the BBW may determine. BBW may purchase the Pledged Stock at any public sale. Out of the proceeds of any sale, BBW may retain an amount equal to the principal and interest then due on the Loan, plus the amount of the expenses of the sale, including reasonable attorneys' fees, and BBW shall pay any balance of such proceeds to Borrower. Borrower shall remain liable to BBW for any deficiency.
Foreclosure of Collateral. While an Event of Default has occurred and is continuing after the expiration of any applicable grace or cure period, the Administrative Agent for its benefit and for the ratable benefit of the Lenders shall have the right from time to time to foreclose on the Collateral in any manner provided in the Loan Documents for the payment of the Obligation then due and payable, including, without limitation, in the event the Borrower defaults beyond any applicable grace period in the payment of one or more payments of principal or interest, the Administrative Agent for its benefit and for the ratable benefit of the Lenders may foreclose a11 of the Collateral to recover such delinquent payments.
Foreclosure of Collateral. Obligors acknowledge that Lender intends to commence proceedings to foreclose its security title, liens, and security interests in and to all Property securing the Obligations, as described in the Loan Documents (collectively, the “Collateral”), in accordance with the provisions of the Loan Documents and applicable law (the “Foreclosure Proceedings”). Obligors jointly and severally (i) ratify and affirm Lender’s security title, liens, and security interests in and to the Collateral, (ii) acknowledge and agree that Obligors have received commercially reasonable, timely, and accurate notice of Lender’s intention to foreclose its security title, liens, and security interests in the Collateral and that Lender has satisfied all requirements set forth in the Loan Documents relating to commencement of the Foreclosure Proceedings, (iii) covenant and agree to use commercially reasonable efforts to cooperate with Lender in connection with the Foreclosure Proceedings, (iv) covenant and agree that none of Obligors, or any person claiming by or through any of Obligors, shall contest, oppose, delay, or otherwise interfere with the commencement and prosecution of the Foreclosure Proceedings (or any foreclosure sale arising from the Foreclosure Proceedings), and (v) covenant and agree not to file any voluntary bankruptcy petition (or solicit the filing of an involuntary bankruptcy petition) with respect to any owner of Collateral other than Xxxxxxxx Atlanta before the earlier of (a) completion of the foreclosure of Lender’s liens and security interests in that Collateral, or (b) the 181st day following the Effective Date. Lender agrees to reimburse Obligors for any out-of-pocket expenses incurred by Obligors in connection with Obligors’ assistance with the Foreclosure Proceedings, but only to the extent such expenses have been approved by Lender in writing.
Foreclosure of Collateral. Borrower acknowledges that Lender intends to commence proceedings to foreclose its security title, lien, and security interest in and to all Property securing the Loans, as described in the Deed of Trust and Loan Documents (collectively, the “Collateral”), in accordance with the provisions of the Loan Documents and applicable law (the “Foreclosure Proceedings”). Lender shall use commercially reasonable efforts to complete the foreclosure of the Collateral by February 28, 2010. In consideration of the foregoing, Borrower (i) ratifies and affirms Lender’s security title, lien, and security interest in and to the Collateral pursuant to the Loan Documents, (ii) acknowledges and agrees that Borrower has received commercially reasonable, timely, and accurate notice of Lender’s intention to foreclose its security title, lien, and security interest in the Collateral and that Lender is satisfied all requirements set forth in the Loan Documents relating to commencement of the Foreclosure Proceedings, and (iii) covenants and agrees to use commercially reasonable efforts to cooperate with Lender in connection with the Foreclosure Proceedings, including but not limited to, executing and returning an original waiver of right to notice and hearing in form and substance attached hereto as Schedule III.
