Foreclosure Sale. All or any part of the Collateral may be sold for cash or other value in any number of lots in any commercially reasonable manner; provided, however that unless the Collateral to be sold threatens to decline speedily in value or is of a type customarily sold on a recognized market, Edge shall give the Company 10 days prior written notice of the time and place of any public sale, or the time after which a private sale may be made, which notice each of the Company and Edge agrees to be reasonable. At any sale or sales of Collateral, Edge or any of its assigns may bid for and purchase all or any part of the property and rights so sold and may use all or any portion of the Secured Obligations owed to Edge as payment for the property or rights so purchased, all without further accountability to the Company, except for the proceeds of such sale or sales pursuant to Section 4(c)(iii).
Appears in 5 contracts
Samples: Note Purchase and Security Agreement (Petcare Television Network Inc), Note Purchase and Security Agreement (Petcare Television Network Inc), Note Purchase and Security Agreement (Petcare Television Network Inc)
