Common use of Foreclosure Sales Clause in Contracts

Foreclosure Sales. (a) Without limiting the provisions of SECTION 5.1, Agent may, following the occurrence and during the continuance of an Event of Default, without notice except as specified below, and to the extent permitted under applicable law, sell the Pledged Collateral or any part thereof in one or more transactions at public or private sale, for cash or property and at such price or prices and upon such other terms as Agent may deem commercially reasonable, irrespective of the impact of any of such sales on the value of any of the Pledged Collateral. To the extent permitted under applicable law, Agent may be the purchaser of any or all of the Pledged Collateral at any such sale. Each purchaser at any such sale shall hold the property sold absolutely free from any claim or right on the part of Pledgor, and Pledgor hereby waives (to the extent permitted by law) all rights of redemption, stay and/or appraisal which it now has or may at any time in the future have under any rule of law or statute now existing or hereafter enacted. Agent shall not be obligated to make any sale with respect to the Pledged Collateral regardless of a notice of sale having been given. Agent may adjourn any public or private sale from time to time by announcement at the time and place fixed therefor, and such sale may, without further notice, be made at the time and place to which it was so adjourned.

Foreclosure Sales. (a) Without limiting the provisions of SECTION Section 5.1, Agent may, following the occurrence and during the continuance of an Event of Default, without notice except as specified below, and to the extent permitted under applicable law, sell the Pledged Collateral or any part thereof in one or more transactions at public or private sale, for cash or property and at such price or prices and upon such other terms as Agent may deem commercially reasonable, irrespective of the impact of any of such sales on the value of any of the Pledged Collateral. To the extent permitted under applicable law, Agent may be the purchaser of any or all of the Pledged Collateral at any such sale. Each purchaser at any such sale shall hold the property sold absolutely free from any claim or right on the part of Pledgor, and Pledgor hereby waives (to the extent permitted by law) all rights of redemption, stay and/or appraisal which it now has or may at any time in the future have under any rule of law or statute now existing or hereafter enacted. Agent shall not be obligated to make any sale with respect to the Pledged Collateral regardless of a notice of sale having been given. Agent may adjourn any public or private sale from time to time by announcement at the time and place fixed therefor, and such sale may, without further notice, be made at the time and place to which it was so adjourned.