Common use of General Remedies Clause in Contracts

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders of the Secured Obligations shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, or by law (including, without limitation, levy of attachment and garnishment), the rights and remedies of a secured party under the UCC of the jurisdiction applicable to the affected Collateral and, further, the Administrative Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law), (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Agent that is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice or hearing, all of which each of the Grantors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Agent and the holders of the Secured Obligations shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place.

Appears in 8 contracts

Samples: Security Agreement (Gaylord Entertainment Co /De), Security Agreement (Ryman Hospitality Properties, Inc.), Credit Agreement (Ryman Hospitality Properties, Inc.)

AutoNDA by SimpleDocs

General Remedies. Upon the occurrence of If an Event of Default shall occur and during the continuation thereofbe continuing, the Administrative Agent and the holders of the Secured Obligations shall haveParty may exercise, in addition to the all other rights and remedies provided herein, granted to it in the Loan Documents, this Agreement and in any other documents instrument or agreement securing, evidencing or relating to the Secured Obligations, or by law (including, without limitation, levy of attachment and garnishment), the all rights and remedies of a secured party under the UCC or any other Applicable Law. Without limiting the generality of the jurisdiction applicable to the affected Collateral and, furtherforegoing, the Administrative Agent maySecured Party, with without demand of performance or without judicial process other demand, presentment, protest, advertisement or the aid notice of any kind (except any notice required by law referred to below) to or upon any Grantor or any other Person (all and assistance each of others (to the extent permitted under applicable lawwhich demands, defenses, advertisements and notices are hereby waived), may in such circumstances forthwith collect, receive, appropriate and realize upon the Collateral, or any part thereof, and/or may forthwith sell, lease, assign, give option or options to purchase, or otherwise dispose of and deliver the Collateral or any part thereof (i) subject or contract to the rights of tenants in possession, enter on any premises on which do any of the Collateral foregoing), in one or more parcels at public or private sale or sales, at any exchange, broker’s board or office of the Secured Party or elsewhere upon such terms and conditions as it may be located deem advisable and at such prices as it may deem best, for cash or on credit or for future delivery without assumption of any credit risk. The Secured Party may disclaim any warranties of title, possession and quiet enjoyment. The Secured Party shall have the right upon any such public sale or sales, and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Agent that is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice or hearing, all of which each of the Grantors hereby waives to the fullest extent permitted by law, at upon any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed or sales, to have been made in a commercially reasonable manner. Neither purchase the Administrative Agent’s compliance with applicable law nor its disclaimer whole or any part of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness so sold, free of any saleright or equity of redemption in any Grantor, which right or equity is hereby waived and released. In addition to all other sums due the Administrative Agent and the holders of Each Grantor further agrees, at the Secured Obligations with respect Party’s request, to assemble the Collateral and make it available to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of Party at places which the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent Party shall reasonably select, whether at such Grantor’s premises or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Agent and the holders of the Secured Obligations shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been givenelsewhere. To the extent permitted by applicable lawApplicable Law, each Grantor waives all claims, damages and demands it may acquire against the Secured Party arising out of the exercise by it of any holder rights hereunder except to the extent any such claims, damages, or demands result solely from the gross negligence or willful misconduct of the Secured Obligations may Party. If any notice of a proposed sale or other disposition of Collateral shall be a purchaser at any such sale. To the extent permitted required by applicable law, each of the Grantors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Agent notice shall be deemed reasonable and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement proper if given at the time and place of such sale, and least ten (10) days before such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and placeother disposition.

Appears in 5 contracts

Samples: Collateral Agreement (General Environmental Management, Inc), Collateral Agreement (Ucn Inc), Collateral Agreement (Lapolla Industries Inc)

General Remedies. Upon the occurrence of If an Event of Default shall occur and during the continuation thereofbe continuing, the Administrative Agent and the holders Agent, on behalf of the Secured Obligations shall haveParties, may exercise, in addition to the all other rights and remedies provided herein, granted to them under applicable Law in the Loan Documents, this Agreement and in any other documents instrument or agreement securing, evidencing or relating to the Secured Obligations, or by law (including, without limitation, levy of attachment and garnishment), the all rights and remedies of a secured party under the UCC or any other applicable Law. Without limiting the generality of the jurisdiction applicable to the affected Collateral and, furtherforegoing, the Administrative Agent mayAgent, with without demand of performance or without judicial process other demand, presentment, protest, advertisement or the aid notice of any kind (except any notice required by law referred to below) to or upon any Grantor or any other Person (all and assistance each of others (to the extent permitted under applicable lawwhich demands, defenses, advertisements and notices are hereby waived), may in such circumstances forthwith collect, receive, appropriate and realize upon the Collateral, or any part thereof, and/or may forthwith sell, lease, assign, give option or options to purchase, or otherwise dispose of and deliver the Collateral or any part thereof (i) subject or contract to the rights of tenants in possession, enter on any premises on which do any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Agent that is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice or hearing, all of which each of the Grantors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contractsforegoing), in one or more parcels, for cash, upon credit parcels at public or otherwiseprivate sale or sales, at such prices and upon such terms as the Administrative Agent deems advisableany exchange, in its sole discretion (subject to any and all mandatory legal requirements). Each broker’s board or office of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any other Secured Party or elsewhere upon such holder terms and conditions as it may deem advisable and at such prices as it may deem best, for cash or on credit or for future delivery without assumption of any credit risk. The Administrative Agent may disclaim any warranties in connection with any sale or other disposition of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any warranties of title, possession, quiet enjoyment and the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days before the time of sale or other event giving rise to the requirement of such noticelike. The Administrative Agent and or any other Secured Party shall have the holders of the Secured Obligations shall not be obligated to make right upon any such public sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable lawsales, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further noticeand, to the extent permitted by applicable law, be made upon any such private sale or sales, to purchase the whole or any part of the Collateral so sold, free of any right or equity of redemption in any Grantor, which right or equity is hereby waived and released. Each Grantor further agrees, at the time Administrative Agent’s request, to assemble the Collateral and place make it available to which the sale was postponed, or the Administrative Agent at places which the Administrative Agent shall reasonably select, whether at such Grantor’s premises or elsewhere. To the fullest extent permitted by applicable Law, each Grantor waives all claims, damages and demands it may acquire against the holders Administrative Agent or any other Secured Party arising out of the exercise by them of any rights hereunder except to the extent any such claims, damages, or demands result solely from the gross negligence or willful misconduct of the Administrative Agent or any other Secured Obligations may further postpone Party, in each case against whom such claim is asserted. If any notice of a proposed sale or other disposition of Collateral shall be required by law, such notice shall be deemed reasonable and proper if given at least ten (10) days before such sale by announcement made at such time and placeor other disposition.

Appears in 4 contracts

Samples: Security and Pledge Agreement (Imation Corp), Credit Agreement (Imation Corp), Collateral Agreement (Heartland Payment Systems Inc)

General Remedies. Upon During the occurrence continuance of an Event of Default and during the continuation thereofDefault, the Administrative Agent and the holders of the Secured Obligations shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, or by law (including, without limitationbut not limited to, levy of attachment attachment, garnishment and garnishmentthe rights and remedies set forth in the UCC of the jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the GrantorsObligors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors Obligors to assemble and make available to the Administrative Agent at the expense of the Grantors Obligors any Collateral at any place and time designated by the Administrative Agent that which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors Obligors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all of the Collateral held by or for it at a public or private salesale (which in the case of a private sale of Pledged Equity, may be to a restricted group of purchasers who will be obligated to agree, among other things, to acquire such securities for their own account, for investment and not with a view to the distribution or resale thereof), at any exchange or broker’s board or elsewhere, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors Obligor acknowledges that any such private sale referenced above may be at prices and on terms less favorable to the seller than the prices and other terms that which might have been obtained at a public sale and and, notwithstanding the foregoing, agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable mannermanner and, in the case of a sale of Pledged Equity, that the Administrative Agent shall have no obligation to delay sale of any such securities for the period of time necessary to permit the issuer of such securities to register such securities for public sale under the Securities Act of 1933. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered deemed to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor Obligor agrees that any requirement of reasonable notice shall be met if such notice notice, specifying the place of any public sale or the time after which any private sale is to be made, is personally served on or mailed, postage prepaid, to the Borrower Obligors in accordance with the notice provisions of Section 11.02 10.1 of the Credit Agreement at least ten Business Days (10) days before the time of sale or other event giving rise to the requirement of such notice. The Administrative 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. Each Obligor further acknowledges and agrees that any offer to sell any Pledged Equity which has been (i) publicly advertised on a bona fide basis in a newspaper or other publication of general circulation in the financial community of New York, New York (to the extent that such offer may be advertised without prior registration under the Securities Act of 1933), or (ii) made privately in the manner described above shall be deemed to involve a “public sale” under the UCC, notwithstanding that such sale may not constitute a “public offering” under the Securities Act of 1933, and the holders Administrative Agent may, in such event, bid for the purchase of the Secured Obligations such securities. The Administrative Agent shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors Obligors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place.

Appears in 4 contracts

Samples: Credit Agreement (Aaron's Company, Inc.), Credit Agreement (Aaron's Company, Inc.), Credit Agreement (Aaron's Company, Inc.)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Collateral Agent and the holders of the Secured Obligations shall have, in addition to the rights and remedies provided herein, in the Loan Documents, Credit Documents in any other documents relating to respect of the Secured Obligations, Obligations or by law (including, without limitation, levy including the rights and remedies set forth in the Uniform Commercial Code of attachment and garnishmentthe jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Required Lenders (at their election but without notice of their election and without demand) may authorize and instruct the Collateral Agent mayto do any of the following on behalf of the Secured Parties (and the Collateral Agent, acting on the instructions of the Required Lenders, shall do the same on behalf of the Secured Parties), with or without judicial process or the aid and assistance of others (and to the extent permitted under by applicable law), (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the GrantorsObligors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors Obligors to assemble and make available to the Administrative Collateral Agent at the expense of the Grantors Obligors any Collateral at any place and time designated by the Administrative Collateral Agent that which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingRequirement of Law, all of which each of the Grantors Obligors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cashCash, upon credit or otherwise, at such prices and upon such terms as the Administrative Collateral Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors acknowledges Obligor also agrees that any private sale referenced above may be Collateral Agent shall at prices and on terms less favorable to the seller than the prices and terms that might all times have been obtained at a public sale and agrees (such royalty-free licenses, to the extent permitted by applicable law) law and existing contracts, for any Trademarks, Trademark Licenses, Patents, Patent Licenses, Copyrights and Copyright Licenses that such private sale shall be deemed are reasonably necessary to have been made in a commercially reasonable manner. Neither permit the Administrative exercise of any of the Collateral Agent’s compliance rights or remedies upon or after the occurrence of (and during the continuance of) an Event of Default with respect to (among other things) any tangible asset of any Obligor in which the Collateral Agent or the other Secured Parties have a security interest and Lien, including the Collateral Agent’s rights to sell Inventory, tooling or packaging which is required by Obligor (or such Obligor’s successor, assignee or trustee under any applicable law nor its disclaimer Debtor Relief Law), subject, in the case of warranties relating Trademarks, to sufficient quality control by the Collateral Agent to the extent the exercise of such rights by the Collateral Agent has a reasonable likelihood of invalidation of such Trademarks. In addition to and without limiting any of the foregoing, upon the occurrence and during the continuance of an Event of Default, the Collateral Agent shall have the right, but shall in no way be considered obligated, to adversely affect bring suit, or to take such other action as the commercial reasonableness Collateral Agent deems necessary or advisable, in the name of any saleObligor or the Collateral Agent, to enforce or protect any of the Trademarks, Trademark Licenses, Patents, Patent Licenses, Copyrights, and Copyright Licenses, in which event any Obligor shall, at the request of the Collateral Agent, do any and all lawful acts and execute any and all documents required by the Collateral Agent in aid of such enforcement. In addition to all other sums due the Administrative Collateral Agent and the holders of the other Secured Obligations Parties with respect to the Secured Obligations, the Grantors Obligors shall pay the Administrative Collateral Agent and each of the holders of the other Secured Obligations Parties all reasonable documented costs and expenses actually incurred by the Administrative Collateral Agent or any such holder of the Secured ObligationsParty, including, but not limited to, reasonable including attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Collateral Agent or the holders of the other Secured Obligations Parties or the Grantors Obligors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, including any of the foregoing arising in, arising under or related to a case under the Bankruptcy Codeany Debtor Relief Law. To the extent the rights of notice cannot be legally waived hereunder, each Grantor Obligor agrees that any requirement of reasonable notice shall be met if such notice is in writing, personally served on or served, faxed mailed, postage prepaidor delivered, to the Borrower Obligors in accordance with the notice provisions of Section 11.02 8.01 of the Credit Agreement at least ten Business Days (10) days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Collateral Agent and the holders of the other Secured Obligations Parties shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, any holder of the Secured Obligations Lender may be a purchaser and may credit bid at any such sale. To the extent permitted by applicable law, each of the Grantors Obligors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Collateral Agent and the holders of the other Secured Obligations Parties may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Collateral Agent and the holders of the other Secured Obligations Parties may further postpone such sale by announcement made at such time and place.

Appears in 4 contracts

Samples: Security Agreement (Chiquita Brands International Inc), Security Agreement (Chiquita Brands International Inc), Security Agreement (Chiquita Brands International Inc)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders Secured Party on behalf of the Secured Obligations Parties shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, or by law any applicable Law (including, without limitationbut not limited to, levy of attachment attachment, garnishment and garnishmentthe rights and remedies set forth in the UCC of the jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Agent Secured Party may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent Secured Party at the expense of the Grantors any Collateral at any place and time designated by the Administrative Agent that Secured Party which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors hereby waives to the fullest extent permitted by lawLaw, at any place and time or times, sell sell, lease, assign, give option or options to purchase, or otherwise dispose of and deliver the Collateral or any part thereof (or contract to do any of the foregoing), in one or more parcels any or all Collateral held by or for it at public or private salesale (which in the case of a private sale of Pledged Equity, shall be to a restricted group of purchasers who will be obligated to agree, among other things, to acquire such securities for their own account, for investment and not with a view to the distribution or resale thereof), at any exchange or broker’s board or elsewhere, by one or more contracts, in one or more parcels, for cashmoney, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent Secured Party deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors Grantor acknowledges that any such private sale referenced above may be at prices and on terms less favorable to the seller than the prices and other terms that which might have been obtained at a public sale and and, notwithstanding the foregoing, agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable mannermanner and, in the case of a sale of Pledged Equity, that the Secured Party shall have no obligation to delay sale of any such securities for the period of time necessary to permit the Issuer of such securities to register such securities for public sale under the Securities Act of 1933. The Secured Party shall have the right upon any such public sale or sales, and, to the extent permitted by applicable Law, upon any such private sale or sales, to purchase the whole or any part of the Collateral so sold. Neither the Administrative AgentSecured Party’s compliance with applicable law Law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice notice, specifying the place of any public sale or the time after which any private sale is to be made, is personally served on or mailed, postage prepaid, to the Borrower Borrowers in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days 10 days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Agent Each Grantor further acknowledges and agrees that any offer to sell any Pledged Equity which has been (A) publicly advertised on a bona fide basis in a newspaper or other publication of general circulation in the financial community of Minnesota, Minnesota (to the extent that such offer may be advertised without prior registration under the Securities Act of 1933), or (B) made privately in the manner described above shall be deemed to involve a “public sale” under the UCC, notwithstanding that such sale may not constitute a “public offering” under the Securities Act of 1933, and the holders Secured Party may, in such event, bid for the purchase of the such securities. The Secured Obligations Party shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable lawLaw, any holder of the Secured Obligations Party may be a purchaser at any such sale. To the extent permitted by applicable lawLaw, each of the Grantors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable lawLaw, the Administrative Agent and the holders of the Secured Obligations Party may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable lawLaw, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations Party may further postpone such sale by announcement made at such time and place. To the extent permitted by applicable Law, each Grantor waives all claims, damages and demands it may acquire against the Secured Party or any Secured Party arising out of the exercise by them of any rights hereunder except to the extent any such claims, damages or demands result solely from the gross negligence or willful misconduct of the Secured Party as determined by a final non-appealable judgment of a court of competent jurisdiction, in each case against whom such claim is asserted. Each Grantor agrees that the internet shall constitute a “place” for purposes of Section 9-610(b) of the UCC and that any sale of Collateral to a licensor pursuant to the terms of a license agreement between such licensor and a Grantor is sufficient to constitute a commercially reasonable sale (including as to method, terms, manner, and time) within the meaning of Section 9-610 of the UCC.

Appears in 4 contracts

Samples: Amended and Restated Security Agreement (Air T Inc), Security Agreement (Pro Dex Inc), Security Agreement (Air T Inc)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders of the Secured Obligations shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, or by law Law (including, without limitationbut not limited to, levy of attachment attachment, garnishment and garnishmentthe rights and remedies set forth in the UCC of the jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the GrantorsObligors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors Obligors to assemble and make available to the Administrative Agent at the expense of the Grantors Obligors any Collateral at any place and time designated by the Administrative Agent that which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors Obligors hereby waives to the fullest extent permitted by lawLaw, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private salesale (which in the case of a private sale of Pledged Equity, shall be to a restricted group of purchasers who will be obligated to agree, among other things, to acquire such securities for their own account, for investment and not with a view to the distribution or resale thereof), at any exchange or broker’s board or elsewhere, by one or more contracts, in one or more parcels, for cashMoney, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors Obligor acknowledges that any such private sale referenced above may be at prices and on terms less favorable to the seller than the prices and other terms that which might have been obtained at a public sale and and, notwithstanding the foregoing, agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable mannermanner and, in the case of a sale of Pledged Equity, that the Administrative Agent shall have no obligation to delay sale of any such securities for the period of time necessary to permit the issuer of such securities to register such securities for public sale under the Securities Act of 1933. Neither the Administrative Agent’s compliance with applicable law Law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor Obligor agrees that any requirement of reasonable notice shall be met if such notice notice, specifying the place of any public sale or the time after which any private sale is to be made, is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days 10 days before the time of sale or other event giving rise to the requirement of such notice. The Administrative 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. Each Obligor further acknowledges and agrees that any offer to sell any Pledged Equity which has been (i) publicly advertised on a bona fide basis in a newspaper or other publication of general circulation in the financial community of New York, New York (to the extent that such offer may be advertised without prior registration under the Securities Act of 1933), or (ii) made privately in the manner described above shall be deemed to involve a “public sale” under the UCC, notwithstanding that such sale may not constitute a “public offering” under the Securities Act of 1933, and the holders Administrative Agent may, in such event, bid for the purchase of the Secured Obligations such securities. The Administrative Agent shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable lawLaw, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable lawLaw, each of the Grantors Obligors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable lawLaw, the Administrative Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable lawLaw, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place.

Appears in 4 contracts

Samples: Security and Pledge Agreement (Natural Grocers by Vitamin Cottage, Inc.), Security and Pledge Agreement (Omega Protein Corp), Security and Pledge Agreement (Duluth Holdings Inc.)

General Remedies. Upon the occurrence of If an Event of Default shall occur and during the continuation thereofbe continuing, the Administrative Agent and the holders Collateral Agent, on behalf of the Secured Obligations shall haveParties, may exercise, in addition to the all other rights and remedies provided herein, granted to them in the Loan Documents, this Agreement and in any other documents instrument or agreement securing, evidencing or relating to the Secured Obligations, or by law (including, without limitation, levy of attachment and garnishment), the all rights and remedies of a secured party under the UCC or any other Applicable Law. Without limiting the generality of the jurisdiction applicable to the affected Collateral and, furtherforegoing, the Administrative Agent mayCollateral Agent, with without demand of performance or without judicial process other demand, presentment, protest, advertisement or the aid notice of any kind (except any notice required by law referred to below) to or upon any Grantor or any other Person (all and assistance each of others (to the extent permitted under applicable lawwhich demands, defenses, advertisements and notices are hereby waived), may in such circumstances forthwith collect, receive, appropriate and realize upon the Collateral, or any part thereof, and/or may forthwith sell, lease, assign, give option or options to purchase, or otherwise dispose of and deliver the Collateral or any part thereof (i) subject or contract to the rights of tenants in possession, enter on any premises on which do any of the foregoing), in one or more parcels at public or private sale or sales, at any exchange, broker’s board or office of the Collateral Agent or any other Secured Party or elsewhere upon such terms and conditions as it may be located deem advisable and at such prices as it may deem best, for cash or on credit or for future delivery without assumption of any credit risk. The Collateral Agent may disclaim any warranties of title, possession and quiet enjoyment. The Collateral Agent or any other Secured Party shall have the right upon any such public sale or sales, and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Agent that is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice or hearing, all of which each of the Grantors hereby waives to the fullest extent permitted by law, at upon any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed or sales, to have been made purchase the whole or any part of the Collateral so sold, free of any right or equity of redemption in a commercially reasonable mannerany Grantor, which right or equity is hereby waived and released. Neither Each Grantor further agrees, at the Administrative Collateral Agent’s compliance with applicable law nor its disclaimer of warranties relating request, to assemble the Collateral and make it available to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Agent and the holders of the Secured Obligations shall not be obligated to make any sale or other disposition of places which the Collateral regardless of notice having been givenAgent shall reasonably select, whether at such Grantor’s premises or elsewhere. To the extent permitted by applicable lawApplicable Law, each Grantor waives all claims, damages and demands it may acquire against the Collateral Agent or any holder other Secured Party arising out of the Secured Obligations may be a purchaser at exercise by them of any rights hereunder except to the extent any such sale. To claims, damages, or demands result solely from the extent permitted by applicable law, each of the Grantors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Agent and the holders of the Secured Obligations may postpone gross negligence or cause the postponement of the sale of all or any portion willful misconduct of the Collateral Agent or any other Secured Party, in each case against whom such claim is asserted. If any notice of a proposed sale or other disposition of Collateral shall be required by announcement law, such notice shall be deemed reasonable and proper if given at the time and place of such sale, and least ten (10) days before such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and placeother disposition.

Appears in 4 contracts

Samples: First Lien Collateral Agreement (Global Geophysical Services Inc), Second Lien Collateral Agreement (Global Geophysical Services Inc), First Lien Collateral Agreement (Global Geophysical Services Inc)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders on behalf of the Secured Obligations Parties shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, or by law any applicable Law (including, without limitationbut not limited to, levy of attachment attachment, garnishment and garnishmentthe rights and remedies set forth in the UCC of the jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possessionany landlords, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Agent that which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors hereby waives to the fullest extent permitted by lawLaw, at any place and time or times, sell sell, lease, assign, give option or options to purchase, or otherwise dispose of and deliver the Collateral or any part thereof (or all Collateral held by contract to do any of the foregoing), in one or for it more parcels at public or private salesale (which in the case of a private sale of Pledged Equity, shall be to a restricted group of purchasers who will be obligated to agree, among other things, to acquire such securities for their own account, for investment and not with a view to the distribution or resale thereof), at any exchange or broker’s board or elsewhere, by one or more contracts, in one or more parcels, for cashmoney, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements)) and/or (vi) complete and tender each internet domain name transfer document in its own name, place and stead of the Grantor in order to effect the transfer of any internet domain name registration, either to the Administrative Agent or to another transferee, as the case may be and maintain, obtain access to, and continue to operate, in its own name or in the name, place and stead of such Grantor, such Grantor’s internet website and the contents thereof, and all related advertising, linking and technology licensing and other contractual relationships, in each case in connection with the maintenance, preservation, operation, sale or other disposition of the Collateral or for any other purpose permitted under the Loan Documents or by applicable Law. Each of the Grantors Grantor acknowledges that any such private sale referenced above may be at prices and on terms less favorable to the seller than the prices and other terms that which might have been obtained at a public sale and and, notwithstanding the foregoing, agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable mannermanner and, in the case of a sale of Pledged Equity, that the Administrative Agent shall have no obligation to delay sale of any such securities for the period of time necessary to permit the Issuer of such securities to register such securities for public sale under the Securities Act of 1933. The Administrative Agent or any other Secured Party shall have the right upon any such public sale or sales, and, to the extent permitted by applicable Law, upon any such private sale or sales, to purchase the whole or any part of the Collateral so sold. Neither the Administrative Agent’s compliance with applicable law Law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice notice, specifying the place of any public sale or the time after which any private sale is to be made, is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days 10 days before the time of sale or other event giving rise to the requirement of such notice. Each Grantor further acknowledges and agrees that any offer to sell any Pledged Equity which has been (A) publicly advertised on a bona fide basis in a newspaper or other publication of general circulation in the financial community of New York, New York (to the extent that such offer may be advertised without prior registration under the Securities Act of 1933), or (B) made privately in the manner described above shall be deemed to involve a “public sale” under the UCC, notwithstanding that such sale may not constitute a “public offering” under the Securities Act of 1933, and the Administrative Agent may, in such event, bid for the purchase of such securities. The Administrative Agent and the holders of the Secured Obligations shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable lawLaw, any holder of the Secured Obligations Party may be a purchaser at any such sale. To the extent permitted by applicable lawLaw, each of the Grantors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable lawLaw, the Administrative Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable lawLaw, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place. To the extent permitted by applicable Law, each Grantor waives all claims, damages and demands it may acquire against the Administrative Agent or any Secured Party arising out of the exercise by them of any rights hereunder except to the extent any such claims, damages or demands result solely from the gross negligence, bad faith or willful misconduct of the Administrative Agent or any other Secured Party as determined by a final non-appealable judgment of a court of competent jurisdiction, in each case against whom such claim is asserted. Each Grantor agrees that the internet shall constitute a “place” for purposes of Section 9-610(b) of the UCC and that any sale of Collateral to a licensor pursuant to the terms of a license agreement between such licensor and a Grantor is sufficient to constitute a commercially reasonable sale (including as to method, terms, manner, and time) within the meaning of Section 9-610 of the UCC.

Appears in 3 contracts

Samples: Security and Pledge Agreement (TopBuild Corp), Security and Pledge Agreement (TopBuild Corp), Security and Pledge Agreement (TopBuild Corp)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders of or the Secured Obligations Parties shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Hedge Agreements and/or the documentation governing any Cash Management Obligations, or by law under applicable Laws (including, without limitationbut not limited to, levy of attachment attachment, garnishment and garnishmentthe rights and remedies set forth in the UCC), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the GrantorsObligors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors Obligors to assemble and make available to the Administrative Agent at the expense of the Grantors Obligors any Collateral at any place and time designated by the Administrative Agent that is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors Obligors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private salesale (which in the case of a private sale of Subsidiary Equity, shall be to a restricted group of purchasers who will be obligated to agree, among other things, to acquire such securities for their own account, for investment and not with a view to the distribution or resale thereof), at any exchange or broker’s board or elsewhere, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors Obligor acknowledges that any such private sale referenced above may be at prices and on terms less favorable to the seller than the prices and other terms that might have been obtained at a public sale and and, notwithstanding the foregoing, agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither manner and, in the Administrative Agent’s compliance with applicable law nor its disclaimer case of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness a sale of any sale. In addition to all other sums due Subsidiary Equity, that the Administrative Agent and the holders shall have no obligation to delay sale of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder securities for the period of time necessary to permit the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment issuer of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related such securities to a case register such securities for public sale under the Bankruptcy CodeSecurities Act of 1933. To the extent the rights of notice cannot be legally waived hereunder, each Grantor Obligor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 10.02 of the Credit Agreement at least ten 10 Business Days before the time of sale or other event giving rise to the requirement of such notice. Each Obligor further acknowledges and agrees that any offer to sell any Subsidiary Equity that has been (i) publicly advertised on a bona fide basis in a newspaper or other publication of general circulation in the financial community of New York, New York (to the extent that such offer may be advertised without prior registration under the Securities Act of 1933), or (ii) made privately in the manner described above shall be deemed to involve a “public sale” under the UCC, notwithstanding that such sale may not constitute a “public offering” under the Securities Act of 1933, and the Administrative Agent may, in such event, bid for the purchase of such securities. The Administrative Agent and the holders of the Secured Obligations Parties shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, any holder of the Secured Obligations Party may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors Obligors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Agent and the holders of the Secured Obligations Parties may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations Parties may further postpone such sale by announcement made at such time and place.

Appears in 3 contracts

Samples: Credit Agreement (IASIS Healthcare LLC), Credit Agreement (IASIS Healthcare LLC), Revolving Credit Agreement (IASIS Healthcare LLC)

General Remedies. Upon the occurrence of If an Event of Default shall occur and during the continuation thereofbe continuing, the Administrative Agent and the holders of the Secured Obligations shall haveParty may exercise, in addition to the all other rights and remedies provided herein, granted to it in the Loan Documents, this Agreement and in any other documents instrument or agreement securing, evidencing or relating to the Secured Obligations, or by law (including, without limitation, levy of attachment and garnishment), the all rights and remedies of a secured party under the UCC or any other Applicable Law. Without limiting the generality of the jurisdiction applicable to the affected Collateral and, furtherforegoing, the Administrative Agent maySecured Party, with without demand of performance or without judicial process other demand, presentment, protest, advertisement or the aid notice of any kind (except any notice required hereunder or by law referred to below) to or upon any Grantor or any other Person (all and assistance each of others (to the extent permitted under applicable lawwhich demands, presentments, protests, advertisements and notices are hereby waived), may in such circumstances forthwith collect, receive, appropriate and realize upon the Collateral, or any part thereof, and/or may forthwith sell, lease, assign, give option or options to purchase, or otherwise dispose of and deliver the Collateral or any part thereof (i) subject or contract to the rights of tenants in possession, enter on any premises on which do any of the Collateral foregoing), in one or more parcels at public or private sale or sales, at any exchange, broker’s board or office of the Secured Party or elsewhere upon such terms and conditions as it may be located deem advisable and at such prices as it may deem best, for cash or on credit or for future delivery without assumption of any credit risk. The Secured Party may disclaim any warranties of title, possession and quiet enjoyment. The Secured Party shall have the right upon any such public sale or sales, and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Agent that is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice or hearing, all of which each of the Grantors hereby waives to the fullest extent permitted by law, at upon any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed or sales, to have been made in a commercially reasonable manner. Neither purchase the Administrative Agent’s compliance with applicable law nor its disclaimer whole or any part of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness so sold, free of any saleright or equity of redemption in any Grantor, which right or equity is hereby waived and released. In addition to all other sums due the Administrative Agent and the holders of Each Grantor further agrees, at the Secured Obligations with respect Party’s request, to assemble the Collateral and make it available to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of Party at places which the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent Party shall reasonably select, whether at such Grantor’s premises or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Agent and the holders of the Secured Obligations shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been givenelsewhere. To the extent permitted by applicable lawApplicable Law, each Grantor waives all claims, damages and demands it may acquire against the Secured Party arising out of the exercise by it of any holder rights hereunder except to the extent any such claims, damages, or demands result solely from the gross negligence or willful misconduct of the Secured Obligations may Party. If any notice of a proposed sale or other disposition of Collateral shall be a purchaser at any such sale. To the extent permitted required by applicable law, each of the Grantors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Agent notice shall be deemed reasonable and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement proper if given at the time and place of such sale, and least ten (10) days before such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and placeother disposition.

Appears in 3 contracts

Samples: Collateral Agreement (XZERES Corp.), Collateral Agreement (XZERES Corp.), Collateral Agreement (Aftersoft Group)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders of the Secured Obligations shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, or by law Law (including, without limitationbut not limited to, levy of attachment attachment, garnishment and garnishmentthe rights and remedies set forth in the UCC of the jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the GrantorsObligors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors Obligors to assemble and make available to the Administrative Agent at the expense of the Grantors Obligors any Collateral at any place and time designated by the Administrative Agent that which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors Obligors hereby waives to the fullest extent permitted by lawLaw, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private salesale (which in the case of a private sale of Pledged Equity, shall be to a restricted group of purchasers who will be obligated to agree, among other things, to acquire such securities for their own account, for investment and not with a view to the distribution or resale thereof), at any exchange or broker's board or elsewhere, by one or more contracts, in one or more parcels, for cashMoney, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors Obligor acknowledges that any such private sale referenced above may be at prices and on terms less favorable to the seller than the prices and other terms that which might have been obtained at a public sale and and, notwithstanding the foregoing, agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable mannermanner and, in the case of a sale of Pledged Equity, that the Administrative Agent shall have no obligation to delay sale of any such securities for the period of time necessary to permit the issuer of such securities to register such securities for public sale under the Securities Act of 1933. Neither the Administrative Agent’s 's compliance with applicable law Law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor Obligor agrees that any requirement of reasonable notice shall be met if such notice notice, specifying the place of any public sale or the time after which any private sale is to be made, is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days 10 days before the time of sale or other event giving rise to the requirement of such notice. The Administrative 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. Each Obligor further acknowledges and agrees that any offer to sell any Pledged Equity which has been (i) publicly advertised on a bona fide basis in a newspaper or other publication of general circulation in the financial community of New York, New York (to the extent that such offer may be advertised without prior registration under the Securities Act of 1933), or (ii) made privately in the manner described above shall be deemed to involve a "public sale" under the UCC, notwithstanding that such sale may not constitute a "public offering" under the Securities Act of 1933, and the holders Administrative Agent may, in such event, bid for the purchase of the Secured Obligations such securities. The Administrative Agent shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable lawLaw, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable lawLaw, each of the Grantors Obligors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable lawLaw, the Administrative Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable lawLaw, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place.

Appears in 3 contracts

Samples: Security and Pledge Agreement (I3 Verticals, Inc.), Security and Pledge Agreement (I3 Verticals, Inc.), Security and Pledge Agreement (I3 Verticals, Inc.)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders of the Secured Obligations shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, or by law Law (including, without limitationbut not limited to, levy of attachment attachment, garnishment and garnishmentthe rights and remedies set forth in the UCC of the jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the GrantorsObligors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors Obligors to assemble and make available to the Administrative Agent at the expense of the Grantors Obligors any Collateral at any place and time designated by the Administrative Agent that which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors Obligors hereby waives to the fullest extent permitted by lawLaw, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private salesale (which in the case of a private sale of Pledged Equity, shall be to a restricted group of purchasers who will be obligated to agree, among other things, to acquire such securities for their own account, for investment and not with a view to the distribution or resale thereof), at any exchange or broker’s board or elsewhere, by one or more contracts, in one or more parcels, for cashMoney, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors Obligor acknowledges that any such private sale referenced above may be at prices and on terms less favorable to the seller than the prices and other terms that which might have been obtained at a public sale and and, notwithstanding the foregoing, agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable mannermanner and, in the case of a sale of Pledged Equity, that the Administrative Agent shall have no obligation to delay sale of any such securities for the period of time necessary to permit the issuer of such securities to register such securities for public sale under the Securities Act of 1933. Neither the Administrative Agent’s compliance with applicable law Law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor Obligor agrees that any requirement of reasonable notice shall be met if such notice notice, specifying the place of any public sale or the time after which any private sale is to be made, is personally served on or mailed, postage prepaid, to the Borrower Obligors in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days 10 days before the time of sale or other event giving rise to the requirement of such notice. The Administrative 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. Each Obligor further acknowledges and agrees that any offer to sell any Pledged Equity which has been (i) publicly advertised on a bona fide basis in a newspaper or other publication of general circulation in the financial community of New York, New York (to the extent that such offer may be advertised without prior registration under the Securities Act of 1933), or (ii) made privately in the manner described above shall be deemed to involve a “public sale” under the UCC, notwithstanding that such sale may not constitute a “public offering” under the Securities Act of 1933, and the holders Administrative Agent may, in such event, bid for the purchase of the Secured Obligations such securities. The Administrative Agent shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable lawLaw, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable lawLaw, each of the Grantors Obligors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable lawLaw, the Administrative Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable lawLaw, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place.

Appears in 3 contracts

Samples: Security and Pledge Agreement (Trex Co Inc), Security and Pledge Agreement (Trex Co Inc), Security and Pledge Agreement (Trex Co Inc)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders of the Secured Obligations Lenders shall have, in addition to the rights and remedies provided herein, in the Loan Credit Documents, in any other documents relating to the Secured Obligations, Hedging Agreements or by law (including, without limitationbut not limited to, levy the rights and remedies set forth in the Uniform Commercial Code of attachment and garnishmentthe jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the GrantorsObligors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors Obligors to assemble and make available to the Administrative Agent at the expense of the Grantors Obligors any Collateral at any place and time designated by the Administrative Agent that which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors Obligors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations Lenders with respect to the Secured Obligations, the Grantors Obligors shall pay the Administrative Agent and each of the holders of the Secured Obligations Lenders all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured ObligationsLender, including, but not limited to, reasonable attorneys' fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations Lenders or the Grantors Obligors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor Obligor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 11.1 of the Credit Agreement at least ten Business Days 10 days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Agent and the holders of the Secured Obligations Lenders shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, any holder of the Secured Obligations Lender may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors Obligors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Agent and the holders of the Secured Obligations Lenders may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations Lenders may further postpone such sale by announcement made at such time and place.

Appears in 3 contracts

Samples: Security Agreement (Simcala Inc), Credit Agreement (Delta Woodside Industries Inc /Sc/), Credit Agreement (Insight Health Services Corp)

General Remedies. Upon During the occurrence continuance of an Event of Default and during the continuation thereofa Credit Event, the Administrative Agent and the holders of the Secured Obligations Servicer shall have, in addition to the rights and remedies provided herein, in the Loan Credit Documents, in any other documents relating to the Secured Obligations, or by law (including, without limitationbut not limited to, levy of attachment attachment, garnishment and garnishmentthe rights and remedies set forth in the UCC of the jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Agent Servicer may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the GrantorsObligors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors Obligors to assemble and make available to the Administrative Agent Servicer at the expense of the Grantors Obligors any Collateral at any place and time designated by the Administrative Agent that Servicer which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors Obligors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all of the Collateral held by or for it at a public or private salesale (which in the case of a private sale of Pledged Equity, may be to a restricted group of purchasers who will be obligated to agree, among other things, to acquire such securities for their own account, for investment and not with a view to the distribution or resale thereof), at any exchange or broker’s board or elsewhere, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent Servicer deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors Obligor acknowledges that any such private sale referenced above may be at prices and on terms less favorable to the seller than the prices and other terms that which might have been obtained at a public sale and and, notwithstanding the foregoing, agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable mannermanner and, in the case of a sale of Pledged Equity, that the Servicer shall have no obligation to delay sale of any such securities for the period of time necessary to permit the issuer of such securities to register such securities for public sale under the Securities Act of 1933. Neither the Administrative AgentServicer’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered deemed to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor Obligor agrees that any requirement of reasonable notice shall be met if such notice notice, specifying the place of any public sale or the time after which any private sale is to be made, is personally served on or mailed, postage prepaid, to the Borrower Obligors in accordance with the notice provisions of Section 11.02 15.1 of the Credit Loan Facility Agreement at least ten Business Days (10) days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Agent Servicer 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. Each Obligor further acknowledges and agrees that any offer to sell any Pledged Equity which has been (i) publicly advertised on a bona fide basis in a newspaper or other publication of general circulation in the financial community of New York, New York (to the extent that such offer may be advertised without prior registration under the Securities Act of 1933), or (ii) made privately in the manner described above shall be deemed to involve a “public sale” under the UCC, notwithstanding that such sale may not constitute a “public offering” under the Securities Act of 1933, and the holders Servicer may, in such event, bid for the purchase of the Secured Obligations such securities. The Servicer shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors Obligors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Agent and the holders of the Secured Obligations Servicer may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations Servicer may further postpone such sale by announcement made at such time and place.

Appears in 3 contracts

Samples: Loan Facility Agreement and Guaranty (Aaron's Company, Inc.), Loan Facility Agreement and Guaranty (Aaron's Company, Inc.), Loan Facility Agreement and Guaranty (Aaron's Company, Inc.)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders of the Secured Obligations shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, or by law (including, without limitation, levy of attachment and garnishment), the rights and remedies of a secured party under the UCC of the jurisdiction applicable to the affected Collateral and, further, the Administrative Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under by applicable law), (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Agent that is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements)) and/or (vi) upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent may set-off against the Secured Obligations any and all sums deposited with it or held by it, without any notice to the Grantors, including without limitation, any sums standing to the credit of any Cash Collateral Account and any time deposits issued by the Administrative Agent. Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations Parties with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations Parties all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured ObligationsParty, in enforcing its remedies hereunder including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations Parties or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy CodeDebtor Relief Laws. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten (10) Business Days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Agent and the holders of the Secured Obligations shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, any holder of the Secured Obligations Party may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Agent and the holders of the Secured Obligations Parties may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place.

Appears in 3 contracts

Samples: Security Agreement (NOODLES & Co), Security Agreement (NOODLES & Co), Security Agreement (NOODLES & Co)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders on behalf of the Secured Obligations Parties shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, or by law any applicable Law (including, without limitationbut not limited to, levy of attachment attachment, garnishment and garnishmentthe rights and remedies set forth in the UCC of the jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Agent that which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors hereby waives to the fullest extent permitted by lawLaw, at any place and time or times, sell sell, lease, assign, give option or options to purchase, or otherwise dispose of and deliver the Collateral or any part thereof (or contract to do any of the foregoing), in one or more parcels any or all Collateral held by or for it at public or private salesale (which in the case of a private sale of Pledged Equity, shall be to a restricted group of purchasers who will be obligated to agree, among other things, to acquire such securities for their own account, for investment and not with a view to the distribution or resale thereof), at any exchange or broker’s board or elsewhere, by one or more contracts, in one or more parcels, for cashmoney, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements)) and (vi) with respect to Collateral, complete and tender each internet domain name transfer document in its own name, place and stead of the Grantor in order to effect the transfer of any internet domain name registration, either to the Administrative Agent or to another transferee, as the case may be and maintain, obtain access to, and continue to operate, in its own name or in the name, place and stead of such Grantor, such Grantor’s internet website and the contents thereof, and all related advertising, linking and technology licensing and other contractual relationships, in each case in connection with the maintenance, preservation, operation, sale or other disposition of the Collateral or for any other purpose permitted under the Loan Documents or by applicable Law. Each of the Grantors Grantor acknowledges that any such private sale referenced above may be at prices and on terms less favorable to the seller than the prices and other terms that which might have been obtained at a public sale and and, notwithstanding the foregoing, agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable mannermanner and, in the case of a sale of Pledged Equity, that the Administrative Agent shall have no obligation to delay sale of any such securities for the period of time necessary to permit the Issuer of such securities to register such securities for public sale under the Securities Act of 1933. The Administrative Agent or any other Secured Party shall have the right upon any such public sale or sales, and, to the extent permitted by applicable Law, upon any such private sale or sales, to purchase the whole or any part of the Collateral so sold. Neither the Administrative Agent’s compliance with applicable law Law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice notice, specifying the place of any public sale or the time after which any private sale is to be made, is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days 10 days before the time of sale or other event giving rise to the requirement of such notice. Each Grantor further acknowledges and agrees that any offer to sell any Pledged Equity which has been (A) publicly advertised on a bona fide basis in a newspaper or other publication of general circulation in the financial community of New York, New York (to the extent that such offer may be advertised without prior registration under the Securities Act of 1933), or (B) made privately in the manner described above shall be deemed to involve a “public sale” under the UCC, notwithstanding that such sale may not constitute a “public offering” under the Securities Act of 1933, and the Administrative Agent may, in such event, bid for the purchase of such securities. The Administrative Agent and the holders of the Secured Obligations shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable lawLaw, any holder of the Secured Obligations Party may be a purchaser at any such sale. To the extent permitted by applicable lawLaw, each of the Grantors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable lawLaw, the Administrative Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable lawLaw, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place. To the extent permitted by applicable Law, each Grantor waives all claims, damages and demands it may acquire against the Administrative Agent or any Secured Party arising out of the exercise by them of any rights hereunder except to the extent any such claims, damages or demands result solely from the gross negligence or willful misconduct of the Administrative Agent or any other Secured Party as determined by a final non-appealable judgment of a court of competent jurisdiction, in each case against whom such claim is asserted. Each Grantor agrees that the internet shall constitute a “place” for purposes of Section 9-610(b) of the UCC and that any sale of Collateral to a licensor pursuant to the terms of a license agreement between such licensor and a Grantor is sufficient to constitute a commercially reasonable sale (including as to method, terms, manner, and time) within the meaning of Section 9-610 of the UCC.

Appears in 3 contracts

Samples: Security and Pledge Agreement (Nuvasive Inc), Security and Pledge Agreement (Nuvasive Inc), Security and Pledge Agreement (Nuvasive Inc)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders of the Secured Obligations shall have, in addition to the rights and remedies provided herein, in the Loan Credit Documents, in any other documents relating to the Secured Obligations, or by law (including, without limitation, levy of attachment and garnishment), the rights and remedies of a secured party under the UCC of the jurisdiction applicable to the affected Collateral and, further, the Administrative Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Agent that is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s 's compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees ' fees, the allocated cost of internal counsel and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Agent and the holders of the Secured Obligations shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place.

Appears in 3 contracts

Samples: Security Agreement (School Specialty Inc), Security Agreement (Fti Consulting Inc), Security Agreement (Fti Consulting Inc)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders of the Secured Obligations Lenders shall have, in addition to the rights and remedies provided herein, in the Loan Credit Documents, in any other documents relating to the Secured Obligations, Hedging Agreement or Secured Cash Management Agreement or by law (including, without limitationbut not limited to, levy of attachment attachment, garnishment, and garnishmentthe rights and remedies set forth in the Uniform Commercial Code of the jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Agent may, with or without judicial process or the aid and assistance of others (others, to the extent permitted under applicable by law), (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the GrantorsObligors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors Obligors to assemble and make available to the Administrative Agent at the expense of the Grantors Obligors any Collateral at any place and time designated by the Administrative Agent that which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting the sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors Obligors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with any applicable state or federal law in the conduct of such sale, nor its disclaimer of any warranties relating to the Collateral Collateral, shall be considered to adversely affect the commercial reasonableness of any such sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations Lenders with respect to the Secured Obligations, the Grantors Obligors shall pay the Administrative Agent and each of the holders of the Secured Obligations Lenders all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured ObligationsLender, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations Lenders or the Grantors Obligors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor Obligor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower applicable Obligor in accordance with the notice provisions of Section 11.02 9.2 of the Credit Agreement at least ten Business Days (10) days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Agent and the holders of the Secured Obligations Lenders shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, any holder of the Secured Obligations Lender may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors Obligors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Agent and the holders of the Secured Obligations Lenders may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations Lenders may further postpone such sale by announcement made at such time and place.

Appears in 3 contracts

Samples: Security Agreement (Red Robin Gourmet Burgers Inc), Security Agreement (Red Robin Gourmet Burgers Inc), Security Agreement (Red Robin Gourmet Burgers Inc)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders on behalf of the Secured Obligations Parties shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, or by law any applicable Law (including, without limitationbut not limited to, levy of attachment attachment, garnishment and garnishmentthe rights and remedies set forth in the UCC of the jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Agent that which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors hereby waives to the fullest extent permitted by lawLaw, at any place and time or times, sell sell, lease, assign, give option or options to purchase, or otherwise dispose of and deliver the Collateral or any part thereof (or contract to do any of the foregoing), in one or more parcels any or all Collateral held by or for it at public or private salesale (which in the case of a private sale of Pledged Equity, shall be to a restricted group of purchasers who will be obligated to agree, among other things, to acquire such securities for their own account, for investment and not with a view to the distribution or resale thereof), at any exchange or broker’s board or elsewhere, by one or more contracts, in one or more parcels, for cashmoney, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors Grantor acknowledges that any such private sale referenced above may be at prices and on terms less favorable to the seller than the prices and other terms that which might have been obtained at a public sale and and, notwithstanding the foregoing, agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable mannermanner and, in the case of a sale of Pledged Equity, that the Administrative Agent shall have no obligation to delay sale of any such securities for the period of time necessary to permit the Issuer of such securities to register such securities for public sale under the Securities Act of 1933. The Administrative Agent or any other Secured Party shall have the right upon any such public sale or sales, and, to the extent permitted by applicable Law, upon any such private sale or sales, to purchase the whole or any part of the Collateral so sold. Neither the Administrative Agent’s compliance with applicable law Law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice notice, specifying the place of any public sale or the time after which any private sale is to be made, is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days 10 days before the time of sale or other event giving rise to the requirement of such notice. Each Grantor further acknowledges and agrees that any offer to sell any Pledged Equity which has been (A) publicly advertised on a bona fide basis in a newspaper or other publication of general circulation in the financial community of New York, New York (to the extent that such offer may be advertised without prior registration under the Securities Act of 1933), or (B) made privately in the manner described above shall be deemed to involve a “public sale” under the UCC, notwithstanding that such sale may not constitute a “public offering” under the Securities Act of 1933, and the Administrative Agent may, in such event, bid for the purchase of such securities. The Administrative Agent and the holders of the Secured Obligations shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable lawLaw, any holder of the Secured Obligations Party may be a purchaser at any such sale. To the extent permitted by applicable lawLaw, each of the Grantors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable lawLaw, the Administrative Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable lawLaw, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place. To the extent permitted by applicable Law, each Grantor waives all claims, damages and demands it may acquire against the Administrative Agent or any Secured Party arising out of the exercise by them of any rights hereunder except to the extent any such claims, damages or demands result solely from the gross negligence or willful misconduct of the Administrative Agent or any other Secured Party as determined by a final non-appealable judgment of a court of competent jurisdiction, in each case against whom such claim is asserted. Each Grantor agrees that the internet shall constitute a “place” for purposes of Section 9-610(b) of the UCC and that any sale of Collateral to a licensor pursuant to the terms of a license agreement between such licensor and a Grantor is sufficient to constitute a commercially reasonable sale (including as to method, terms, manner, and time) within the meaning of Section 9-610 of the UCC.

Appears in 2 contracts

Samples: Security and Pledge Agreement (Good Times Restaurants Inc), Security and Pledge Agreement (Good Times Restaurants Inc.)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders of the Secured Obligations Lenders shall have, in addition to the rights and remedies provided herein, in the Loan Credit Documents, in the Hedging Agreements between any other documents relating to the Secured ObligationsObligor and any Lender, or by law (including, without limitationbut not limited to, levy of attachment attachment, garnishment and garnishmentthe rights and remedies set forth in the Uniform Commercial Code of the jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the GrantorsObligors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors Obligors to assemble and make available to the Administrative Agent at the expense of the Grantors Obligors any Collateral at any place and time designated by the Administrative Agent that which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors Obligors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations Lenders with respect to the Secured Obligations, the Grantors Obligors shall pay the Administrative Agent and each of the holders of the Secured Obligations Lenders all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured ObligationsLender, including, but not limited to, reasonable attorneys' fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders any of the Secured Obligations Lenders or the Grantors Obligors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor Obligor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 11.1 of the Credit Agreement at least ten Business Days 10 days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Agent and the holders of the Secured Obligations Lenders shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, any holder of the Secured Obligations Lender may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors Obligors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Agent and the holders of the Secured Obligations Lenders may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations Lenders may further postpone such sale by announcement made at such time and place.

Appears in 2 contracts

Samples: Credit Agreement (Signal Medical Services), Credit Agreement (Jw Childs Equity Partners Ii Lp)

General Remedies. (i) Upon the occurrence and during the continuance of an Event of Default Default, and during to the continuation thereofextent not prohibited by applicable Law, the Administrative Agent and the holders of the Secured Obligations shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, or by law applicable Law (including, without limitationbut not limited to, levy of attachment attachment, garnishment and garnishmentthe rights and remedies set forth in the UCC of the jurisdiction applicable to the affected Pledged Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andPledged Collateral), and further, the Administrative Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Agent that is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors Pledgor hereby waives to the fullest extent permitted by lawLaw, at any place and time or times, sell and deliver any or all Pledged Collateral held by or for it at public or private sale (which in the case of a private sale, shall be to a restricted group of purchasers who will be obligated to agree, among other things, to acquire such securities for their own account, for investment and not with a view to the distribution or resale thereof), at any exchange or broker’s board or elsewhere, by one or more contracts, in one or more parcels, for cashmoney, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors Pledgor acknowledges that any such private sale referenced above may be at prices and on terms less favorable to the seller than the prices and other terms that which might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable mannersale. Neither the Administrative Agent’s compliance with applicable law Law nor its disclaimer of warranties relating to the Pledged Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor Pledgor agrees that any requirement of reasonable notice shall be met if such notice notice, specifying the place of any public sale or the time after which any private sale is to be made, is personally served on or mailed, postage prepaid, to the Borrower Company in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days (10) days before the time of sale or other event giving rise to the requirement of such notice. The Administrative 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 holders of the Secured Obligations time and place to which it was so adjourned. The Administrative Agent shall not be obligated to make any sale or other disposition of the Pledged Collateral regardless of notice having been given. To the extent permitted not prohibited by applicable lawLaw, any holder of the Secured Obligations Party may be a purchaser at any such sale. To the extent permitted not prohibited by applicable lawLaw, each of the Grantors Pledgors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable lawLaw, the Administrative Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Pledged Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable lawLaw, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place.

Appears in 2 contracts

Samples: Credit Agreement (Mohawk Industries Inc), Credit Agreement (Mohawk Industries Inc)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders of the Secured Obligations Lenders shall have, in addition to the rights and remedies provided herein, in the Loan Credit Documents, in any other documents relating to the Secured Obligations, Hedging Agreement or by law (including, without limitationbut not limited to, levy of attachment attachment, garnishment and garnishmentthe rights and remedies set forth in the Uniform Commercial Code of the jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the GrantorsObligors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors Obligors to assemble and make available to the Administrative Agent at the expense of the Grantors Obligors any Collateral at any place and time designated by the Administrative Agent that which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors Obligors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with any applicable state or federal law in the conduct of such sale, nor its disclaimer of any warranties relating to the Collateral Collateral, shall be considered to adversely affect the commercial reasonableness of any such sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations Lenders with respect to the Secured Obligations, the Grantors Obligors shall pay the Administrative Agent and each of the holders of the Secured Obligations Lenders all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured ObligationsLender, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations Lenders or the Grantors Obligors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor Each Obligor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower Company in accordance with the notice provisions of Section 11.02 9.2 of the Credit Agreement at least ten Business Days 10 days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Agent and the holders of the Secured Obligations Lenders shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, any holder of the Secured Obligations Lender may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors Obligors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Agent and the holders of the Secured Obligations Lenders may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations Lenders may further postpone such sale by announcement made at such time and place.

Appears in 2 contracts

Samples: Security Agreement (Lionbridge Technologies Inc /De/), Security Agreement (Lionbridge Technologies Inc /De/)

General Remedies. Upon the occurrence of If an Event of Default shall occur and during the continuation thereofbe continuing, the Administrative Agent and the holders Agent, on behalf of the Secured Obligations shall haveParties, may exercise, in addition to the all other rights and remedies provided herein, granted to them under applicable Law in the Loan Documents, this Agreement and in any other documents instrument or agreement securing, evidencing or relating to the Secured Obligations, or by law (including, without limitation, levy of attachment and garnishment), the all rights and remedies of a secured party under the UCC or any other applicable Law. Without limiting the generality of the jurisdiction applicable to the affected Collateral and, furtherforegoing, the Administrative Agent mayAgent, with without demand of performance or without judicial process other demand, presentment, protest, advertisement or the aid notice of any kind (except any notice required by law referred to below) to or upon any Grantor or any other Person (all and assistance each of others (to the extent permitted under applicable lawwhich demands, defenses, advertisements and notices are hereby waived), may in such circumstances forthwith collect, receive, appropriate and realize upon the Collateral, or any part thereof, and/or may forthwith sell, lease, assign, give option or options to purchase, or otherwise dispose of and deliver the Collateral or any part thereof (i) subject or contract to the rights of tenants in possession, enter on any premises on which do any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Agent that is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice or hearing, all of which each of the Grantors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contractsforegoing), in one or more parcels, for cash, upon credit parcels at public or otherwiseprivate sale or sales, at such prices and upon such terms as the Administrative Agent deems advisableany exchange, in its sole discretion (subject to any and all mandatory legal requirements). Each broker’s board or office of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any other Secured Party or elsewhere upon such holder terms and conditions as it may deem advisable and at such prices as it may deem best, for cash or on credit or for future delivery without assumption of any credit risk. The Administrative Agent may disclaim any warranties in connection with any sale or other disposition of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any warranties of title, possession, quiet enjoyment and the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days before the time of sale or other event giving rise to the requirement of such noticelike. The Administrative Agent and or any other Secured Party shall have the holders of the Secured Obligations shall not be obligated to make right upon any such public sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable lawsales, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further noticeand, to the extent permitted by applicable law, be made upon any such private sale or sales, to purchase the whole or any part of the Collateral so sold, free of any right or equity of redemption in any Grantor, which right or equity is hereby waived and released. Each Grantor further agrees, at the time Administrative Agent’s request, to assemble the Collateral and place make it available to which the sale was postponed, or the Administrative Agent at places which the Administrative Agent shall reasonably select, whether at such Grantor’s premises or elsewhere. To the fullest extent permitted by applicable Law, each Grantor waives all claims, damages and demands it may acquire against the holders Administrative Agent or any other Secured Party arising out of the exercise by them of any rights hereunder except to the extent any such claims, damages, or demands result solely from the gross negligence or willful misconduct of the Administrative Agent or any other Secured Obligations may further postpone Party, in each case against whom such claim is asserted. If any notice of a proposed sale or other disposition of Collateral shall be required by law, such notice shall be deemed reasonable and proper if given at least ten (10) days before such sale by announcement made at such time and placeor other disposition.

Appears in 2 contracts

Samples: Collateral Agreement (Prospect Medical Holdings Inc), Collateral Agreement (Prospect Medical Holdings Inc)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders of the Secured Obligations shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, or by law (including, without limitation, levy of attachment and garnishment), the rights and remedies of a secured party under the UCC of the jurisdiction applicable to the affected Collateral and, further, the Administrative Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Agent that is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees including Attorney Costs and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Domestic Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy CodeDebtor Relief Laws. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower GFI in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Agent and the holders of the Secured Obligations shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place.

Appears in 2 contracts

Samples: Domestic Security Agreement (GFI Group Inc.), Domestic Security Agreement (GFI Group Inc.)

General Remedies. Upon the occurrence of an Event of Default and during the continuation continuance thereof, the Administrative Agent and the holders of the Secured Obligations Lenders shall have, in addition to the rights and remedies provided herein, in the Loan Credit Documents, in any other documents relating to the Secured Obligations, Hedging Agreement between any Credit Party and any Lender or by law (including, without limitationbut not limited to, levy the rights and remedies set forth in the Uniform Commercial Code of attachment and garnishmentthe jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Collateral Agent may, with or without judicial process or the aid and assistance of others (others, to the fullest extent permitted under applicable by law), (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the GrantorsObligors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors Obligors to assemble and make available to the Administrative Collateral Agent at the expense of the Grantors Obligors any Collateral at any place and time designated by the Administrative Collateral Agent that which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors Obligors hereby waives to the fullest extent permitted by lawlaw (including Article 9 of the UCC), at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Collateral Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Collateral Agent and the holders of the Secured Obligations Lenders with respect to the Secured Obligations, the Grantors Obligors shall pay the Administrative Collateral Agent and each of the holders of the Secured Obligations Lenders all reasonable documented costs and expenses actually incurred by the Administrative Collateral Agent or any such holder of the Secured ObligationsLender, including, but not limited to, reasonable attorneys' fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Collateral Agent or the holders of the Secured Obligations Lenders or the Grantors Obligors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor Obligor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, mailed postage prepaid, prepaid to the Borrower in accordance with the notice provisions of Section 11.02 11.1 of the Credit Agreement at least ten Business Days 10 days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Collateral Agent and the holders of the Secured Obligations Lenders shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, any holder of the Secured Obligations Lender may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors Obligors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Collateral Agent and the holders of the Secured Obligations Lenders may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Collateral Agent and the holders of the Secured Obligations Lenders may further postpone such sale by announcement made at such time and place.

Appears in 2 contracts

Samples: Security Agreement (Usc May Verpackungen Holding Inc), Security Agreement (Usc May Verpackungen Holding Inc)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders of the Secured Obligations shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, or by law (including, without limitation, levy of attachment attachment, garnishment and garnishmentthe rights and remedies set forth in the UCC of the jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral Collateral) and, further, the Administrative Agent may, with or without judicial process or the aid and assistance of others (others, to the extent permitted under not prohibited by applicable law), (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Agent that is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cashMoney, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and and, notwithstanding the foregoing, agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations Parties with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations Parties all reasonable and documented out-of-pocket costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured ObligationsParty, in enforcing its remedies hereunder including, but not limited to, reasonable and documented attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations Parties or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy CodeDebtor Relief Laws. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice notice, specifying the place of any public sale or the time after which any private sale is to be made, is personally served on or mailed, postage prepaid, to the Borrower Company in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days 10 days before the time of sale or other event giving rise to the requirement of such notice. The Administrative 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 holders of the Secured Obligations time and place to which it was so adjourned. The Administrative Agent shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, any holder of the Secured Obligations Party may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place.

Appears in 2 contracts

Samples: Security Agreement (Amedisys Inc), Security Agreement (Amedisys Inc)

General Remedies. Upon the occurrence of an Event of Default and during at any time thereafter unless and until such Event of Default has been waived by the continuation thereofRequired Banks or cured to the satisfaction of the Required Banks in accordance with the terms of the Credit Agreement, the Administrative Collateral Agent and the holders of the Secured Obligations shall have, have in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, Credit Documents or by law (including, without limitation, levy of attachment and garnishment)law, the rights and remedies of a secured party under the UCC Code (regardless of whether the Code is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the Code applies to the affected Collateral), and further the Collateral and, further, the Administrative Agent may, may with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law), (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the Grantorsany such Credit Party, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors any such Credit Party to assemble and make available to the Administrative Collateral Agent at the its own expense of the Grantors any Collateral at any place and time designated by the Administrative Collateral Agent that which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors such Credit Party hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Collateral Agent deems advisable, in its sole discretion (subject to discretion, provided that said disposition complies with any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Collateral Agent and the holders of the Secured Obligations with respect to the Secured Obligationsor any Bank hereunder, the Grantors Credit Parties shall pay the Administrative Collateral Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured ObligationsCollateral Agent, including, but not limited to, including reasonable attorneys' fees (including the allocated costs of in-house counsel) and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Collateral Agent or the holders of the Secured Obligations or the Grantors any Bank concerning any matter arising out of or connected with this Security Agreement, any Agreement or the Collateral or the Secured Obligations, including, including without limitation, limitation any of the foregoing arising in, arising under or related to a case under the United States Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor such Credit Party agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, otherwise sent to the Borrower such Credit Party in accordance with the notice provisions of Section 11.02 of the Credit Agreement 11 hereof at least ten Business Days 10 days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Collateral Agent and the holders of the Secured Obligations shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, the Collateral Agent or any holder of the Secured Obligations Bank may be a the purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors such Credit Party hereby waives all of its rights of redemption with respect to from any such sale. Subject to the provisions of applicable law, the Administrative Collateral Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, postponed or the Administrative Collateral Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place.

Appears in 2 contracts

Samples: Security and Pledge Agreement (Cottontops Inc), Security and Pledge Agreement (Anvil Holdings Inc)

General Remedies. Upon the occurrence of If an Event of Default shall occur and during the continuation thereofbe continuing, the Administrative Agent and the holders Agent, on behalf of the Secured Obligations shall haveParties, may exercise, in addition to the all other rights and remedies provided herein, granted to them in the Loan Documents, this Agreement and in any other documents instrument or agreement securing, evidencing or relating to the Secured Obligations, or by law (including, without limitation, levy of attachment and garnishment), the all rights and remedies of a secured party under the UCC or any other Applicable Law. Without limiting the generality of the jurisdiction applicable to the affected Collateral and, furtherforegoing, the Administrative Agent mayAgent, with without demand of performance or without judicial process other demand, presentment, protest, advertisement or the aid notice of any kind (except any notice required by Applicable Law referred to below) to or upon any Grantor or any other Person (all and assistance each of others (which demands, defenses, advertisements and notices are hereby waived to the extent permitted under applicable lawby Applicable Law), may in such circumstances forthwith collect, receive, appropriate and realize upon the Collateral, or any part thereof, and/or may forthwith sell, lease, assign, give option or options to purchase, or otherwise dispose of and deliver the Collateral or any part thereof (i) subject or contract to the rights of tenants in possession, enter on any premises on which do any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Agent that is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice or hearing, all of which each of the Grantors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contractsforegoing), in one or more parcels, for cash, upon credit parcels at public or otherwiseprivate sale or sales, at such prices and upon such terms as the Administrative Agent deems advisableany exchange, in its sole discretion (subject to any and all mandatory legal requirements). Each broker’s board or office of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any other Secured Party or elsewhere upon such holder of the Secured Obligationsterms and conditions as it may deem advisable and at such prices as it may deem best, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining for cash or liquidating the Collateral, in enforcing payment of the Secured Obligations, on credit or in the prosecution or defense for future delivery without assumption of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days before the time of sale or other event giving rise to the requirement of such noticecredit risk. The Administrative Agent and the holders of the Secured Obligations shall not be obligated to make may disclaim all warranties in connection with any sale or other disposition of the Collateral, including, without limitation, all warranties of title, possession, quiet enjoyment and the like. The Administrative Agent or any other Secured Party shall have the right upon any such public sale or sales, and, to the extent permitted by Applicable Law, upon any such private sale or sales, to purchase the whole or any part of the Collateral regardless so sold, free of notice having been givenany right or equity of redemption in any Grantor, 60010211_5 which right or equity is hereby waived and released. Each Grantor further agrees, at the Administrative Agent’s request, to assemble the Collateral and make it available to the Administrative Agent at places which the Administrative Agent shall reasonably select, whether at such Grantor’s premises or elsewhere. To the extent permitted by applicable law, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable lawApplicable Law, each of the Grantors hereby Grantor waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable lawclaims, damages and demands it may acquire against the Administrative Agent and the holders or any other Secured Party arising out of the Secured Obligations may postpone or cause the postponement exercise by them of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, rights hereunder except to the extent permitted by applicable lawany such claims, be made at the time and place to which the sale was postponeddamages, or demands result solely from the gross negligence or willful misconduct of the Administrative Agent or any other Secured Party, in each case against whom such claim is asserted. If any notice of a proposed sale or other disposition of Collateral shall be required by law, such notice shall be deemed reasonable and the holders of the Secured Obligations may further postpone proper if given at least ten (10) days before such sale by announcement made at such time and placeor other disposition.

Appears in 2 contracts

Samples: Collateral Agreement (Realpage Inc), Collateral Agreement (Realpage Inc)

General Remedies. Upon the occurrence and during the continuance of an Event of Default Default, and during to the continuation thereofextent not prohibited by applicable Law, the Administrative Agent and the holders of the Secured Obligations shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, or by law Law (including, without limitationbut not limited to, levy of attachment attachment, garnishment and garnishmentthe rights and remedies set forth in the UCC of the jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, to the extent not prohibited by applicable Law, the Administrative Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Agent that which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors hereby waives to the fullest extent permitted by lawLaw, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, at any exchange or broker’s board or elsewhere, by one or more contracts, in one or more parcels, for cashMoney, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors Grantor acknowledges that any such private sale referenced above may be at prices and on terms less favorable to the seller than the prices and other terms that which might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable mannersale. Neither the Administrative Agent’s compliance with applicable law Law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice notice, specifying the place of any public sale or the time after which any private sale is to be made, is personally served on or mailed, postage prepaid, to the Borrower Company in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days (10) days before the time of sale or other event giving rise to the requirement of such notice. The Administrative 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 holders of the Secured Obligations time and place to which it was so adjourned. The Administrative Agent shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted not prohibited by applicable lawLaw, any holder of the Secured Obligations Party may be a purchaser at any such sale. To the extent permitted not prohibited by applicable lawLaw, each of the Grantors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable lawLaw, the Administrative Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable lawLaw, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place.

Appears in 2 contracts

Samples: Credit Agreement (Mohawk Industries Inc), Credit Agreement (Mohawk Industries Inc)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders of the Secured Obligations Control Agent shall have, in addition to the rights and remedies provided herein, in the Loan Credit Documents, in any other documents relating to the Secured Obligations, Hedging Agreement or by law (including, without limitationbut not limited to, levy of attachment attachment, garnishment and garnishmentthe rights and remedies set forth in the UCC of the jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the GrantorsObligors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors Obligors to assemble and make available to the Administrative Agent at the expense of the Grantors Obligors any Collateral at any place and time designated by the Administrative Agent that which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors Obligors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with any applicable state or federal law in the conduct of such sale, nor its disclaimer of any warranties relating to the Collateral Collateral, shall be considered to adversely affect the commercial reasonableness of any such sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations Lenders with respect to the Secured Obligations, the Grantors Obligors shall pay the Administrative Agent and each of the holders of the Secured Obligations Lenders all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured ObligationsLender, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations Lenders or the Grantors Obligors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor Obligor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower Company in accordance with the notice provisions of Section 11.02 9.2 of the Credit Agreement at least ten Business Days (10) days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Agent and the holders of the Secured Obligations Lenders shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, any holder of the Secured Obligations Lender may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors Obligors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Agent and the holders of the Secured Obligations Lenders may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations Lenders may further postpone such sale by announcement made at such time and place.

Appears in 2 contracts

Samples: Agency Succession and Amendment Agreement (GateHouse Media, Inc.), Security Agreement (GateHouse Media, Inc.)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders of the Secured Obligations shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, or by law Law (including, without limitationbut not limited to, levy of attachment attachment, garnishment and garnishmentthe rights and remedies set forth in the UCC of the jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Agent may, in compliance with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)Law, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the GrantorsObligors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors Obligors to assemble and make available to the Administrative Agent at the expense of the Grantors Obligors any Collateral at any place and time designated by the Administrative Agent that which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors Obligors hereby waives to the fullest extent permitted by lawLaw, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private salesale (which in the case of a private sale of Pledged Equity, shall be to a restricted group of purchasers who will be obligated to agree, among other things, to acquire such securities for their own account, for investment and not with a view to the distribution or resale thereof), at any exchange or broker’s board or elsewhere, by one or more contracts, in one or more parcels, for cashMoney, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors Obligor acknowledges that any such private sale referenced above may be at prices and on terms less favorable to the seller than the prices and other terms that which might have been obtained at a public sale and and, notwithstanding the foregoing, agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable mannermanner and, in the case of a sale of Pledged Equity, that the Administrative Agent shall have no obligation to delay sale of any such securities for the period of time necessary to permit the issuer of such securities to register such securities for public sale under the Securities Act of 1933. Neither the Administrative Agent’s compliance with applicable law Law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor Obligor agrees that any requirement of reasonable notice shall be met if such notice notice, specifying the place of any public sale or the time after which any private sale is to be made, is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days 10 days before the time of sale or other event giving rise to the requirement of such notice. The Administrative 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. Each Obligor further acknowledges and agrees that any offer to sell any Pledged Equity which has been (i) publicly advertised on a bona fide basis in a newspaper or other publication of general circulation in the financial community of New York, New York (to the extent that such offer may be advertised without prior registration under the Securities Act of 1933), or (ii) made privately in the manner described above shall be deemed to involve a “public sale” under the UCC, notwithstanding that such sale may not constitute a “public offering” under the Securities Act of 1933, and the holders Administrative Agent may, in such event, bid for the purchase of the Secured Obligations such securities. The Administrative Agent shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable lawLaw, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable lawLaw, each of the Grantors Obligors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable lawLaw, the Administrative Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable lawLaw, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place.

Appears in 2 contracts

Samples: Credit Agreement (WHITEWAVE FOODS Co), Credit Agreement (Dean Foods Co)

General Remedies. Upon the occurrence of an Event of Default and solely during the continuation thereof, the Administrative Collateral Agent and the holders of the Secured Obligations shall have, in addition to the rights and remedies provided herein, in the Loan Transaction Documents, in any other documents relating to the Secured Obligations, or by law (including, without limitation, levy of attachment attachment, garnishment and garnishmentthe rights and remedies set forth in the UCC of the jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC of the jurisdiction applicable to the affected Collateral and, further, the Administrative Collateral Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under by applicable law), (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Collateral Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Collateral Agent that is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting the sale or other disposition thereof, thereof and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice or hearing, all of which each of the Grantors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Collateral Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Collateral Agent and the holders of the Secured Obligations Parties with respect to the Secured Obligations, the Grantors shall pay the Administrative Collateral Agent and each of the holders of the Secured Obligations Parties all reasonable and documented out-of-pocket costs and expenses actually incurred by the Administrative Collateral Agent or any such holder of the Secured ObligationsParty, in enforcing its remedies hereunder including, but not limited to, reasonable and documented attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Collateral Agent or the holders of the Secured Obligations Parties or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy CodeDebtor Relief Laws. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice notice, specifying the place of any public sale or the time after which any private sale is to be made, is personally served on or mailed, postage prepaid, to the Borrower Company in accordance with the notice provisions of Section 11.02 of set forth in the Credit Agreement Transaction Documents at least ten (10) Business Days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Collateral 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 holders of the Secured Obligations time and place to which it was so adjourned. The Collateral Agent shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, any holder of the Secured Obligations Party may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Collateral Agent and the holders of the Secured Obligations Parties may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Collateral Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place.

Appears in 2 contracts

Samples: Guaranty and Security Agreement (Venus Concept Inc.), Guaranty and Security Agreement (Venus Concept Inc.)

General Remedies. Upon the occurrence of If an Event of Default shall occur and during the continuation thereofbe continuing, the Administrative Agent and the holders Agent, on behalf of the Secured Obligations shall haveLenders, may exercise, in addition to the all other rights and remedies provided herein, granted to them in the Loan Documents, this Agreement and in any other documents instrument or agreement securing, evidencing or relating to the Secured Obligations, or by law (including, without limitation, levy of attachment and garnishment), the all rights and remedies of a secured party under the UCC or any other applicable Law. Without limiting the generality of the jurisdiction applicable to the affected Collateral and, furtherforegoing, the Administrative Agent, without demand of performance or other demand, presentment, protest, advertisement or notice of any kind (except any notice required by law referred to below) to or upon any Grantor or any other Person (all and each of which demands, defenses, advertisements and notices are hereby waived), may in such circumstances forthwith collect, receive, appropriate and realize upon the Collateral, or any part thereof, and/or may forthwith sell, lease, assign, give option or options to purchase, or otherwise dispose of and deliver the Collateral or any part thereof (or contract to do any of the foregoing), in one or more parcels at public or private sale or sales, at any exchange, broker's board or office of the Administrative Agent mayor any Lender or elsewhere upon such terms and conditions as it may deem advisable and at such prices as it may deem best, with for cash or on credit or for future delivery without judicial process assumption of any credit risk. The Administrative Agent may disclaim any warranties of title, possession and quiet enjoyment. The Administrative Agent or any Lender shall have the aid and assistance of others (right upon any such public sale or sales, and, to the extent permitted under applicable by law), (i) subject upon any such private sale or sales, to purchase the rights of tenants in possession, enter on whole or any premises on which any part of the Collateral may be located andso sold, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose free of any Collateral on right or equity of redemption in any such premisesGrantor, (iii) require which right or equity is hereby waived and released. Each Grantor further agrees, at the Grantors Administrative Agent's request, to assemble the Collateral and make it available to the Administrative Agent at the expense of the Grantors any Collateral at any place and time designated by places which the Administrative Agent that is shall reasonably convenient to both partiesselect, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice or hearing, all of which each of the Grantors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, whether at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent Grantor's premises or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Agent and the holders of the Secured Obligations shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been givenelsewhere. To the extent permitted by applicable law, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable lawLaw, each of the Grantors hereby Grantor waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable lawclaims, damages and demands it may acquire against the Administrative Agent and the holders or any Lender arising out of the Secured Obligations may postpone or cause the postponement exercise by them of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, rights hereunder except to the extent permitted by applicable lawany such claims, be made at the time and place to which the sale was postponeddamages, or demands result solely from the gross negligence or willful misconduct of the Administrative Agent or any Lender, in each case against whom such claim is asserted. If any notice of a proposed sale or other disposition of Collateral shall be required by law, such notice shall be deemed reasonable and the holders of the Secured Obligations may further postpone proper if given at least ten (10) days before such sale by announcement made at such time and placeor other disposition.

Appears in 2 contracts

Samples: Collateral Agreement (Blue Rhino Corp), Collateral Agreement (Armor Holdings Inc)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders of the Secured Obligations shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, or by law Applicable Laws (including, without limitationbut not limited to, levy of attachment attachment, garnishment and garnishmentthe rights and remedies set forth in the UCC of the jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the GrantorsCredit Parties, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors Credit Parties to assemble and make available to the Administrative Agent at the expense of the Grantors Credit Parties any Collateral at any place and time designated by the Administrative Agent that which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors Credit Parties hereby waives to the fullest extent permitted by lawApplicable Laws, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private salesale (which in the case of a private sale of Equity Interests constituting Collateral (the “Pledged Equity”), shall be to a restricted group of purchasers who will be obligated to agree, among other things, to acquire such securities for their own account, for investment and not with a view to the distribution or resale thereof), at any exchange or broker’s board or elsewhere, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors Credit Party acknowledges that any such private sale referenced above may be at prices and on terms less favorable to the seller than the prices and other terms that which might have been obtained at a public sale and and, notwithstanding the foregoing, agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable mannermanner and, in the case of a sale of Pledged Equity, that the Agent shall have no obligation to delay sale of any such securities for the period of time necessary to permit the issuer of such securities to register such securities for public sale under the Securities Act of 1933. Neither the Administrative Agent’s compliance with applicable law Applicable Laws nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor Credit Party agrees that any requirement of reasonable notice shall be met if such notice notice, specifying the place of any public sale or the time after which any private sale is to be made, is personally served on or mailed, postage prepaid, to the Borrower Credit Parties in accordance with the notice provisions of Section 11.02 of the Credit Agreement 12.1 at least ten Business Days 10 days before the time of sale or other event giving rise to the requirement of such notice. The Administrative 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. Each Credit Party further acknowledges and agrees that any offer to sell any Pledged Equity which has been (A) publicly advertised on a bona fide basis in a newspaper or other publication of general circulation in the financial community of New York, New York (to the extent that such offer may be advertised without prior registration under the Securities Act of 1933), or (B) made privately in the manner described above shall be deemed to involve a “public sale” under the UCC, notwithstanding that such sale may not constitute a “public offering” under the Securities Act of 1933, and the holders Agent may, in such event, bid for the purchase of the Secured Obligations such securities. The Agent shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, Applicable Laws any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable lawApplicable Laws, each of the Grantors Credit Parties hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable lawApplicable Laws, the Administrative Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable lawApplicable Laws, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place.

Appears in 2 contracts

Samples: Loan and Security Agreement (Guardian Pharmacy Services, Inc.), Loan and Security Agreement (Guardian Pharmacy Services, Inc.)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Collateral Agent and the holders of the Secured Obligations shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, or by law Law (including, without limitation, including levy of attachment and garnishment), the rights and remedies of a secured party under the UCC of the jurisdiction applicable to the affected Collateral and, further, the Administrative Collateral Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Collateral Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Collateral Agent that is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of Law, all of which each of the Grantors hereby waives to the fullest extent permitted by lawLaw, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Collateral Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to waives any claims against the extent permitted Collateral Agent arising by applicable law) reason that any such private sale shall be deemed to not have been made in a commercially reasonable manner. Neither the Administrative The Collateral Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall not be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Collateral Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Collateral Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Collateral Agent or any such holder of the Secured Obligations, including, but not limited to, Obligations (including reasonable attorneys’ fees and expenses and court costs, ) in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Collateral Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, including any of the foregoing arising in, arising under or related to a case under the Bankruptcy CodeDebtor Relief Laws. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower Borrowers in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten (10) Business Days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Collateral Agent and the holders of the Secured Obligations shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable lawLaw, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable lawLaw, each of the Grantors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable lawLaw, the Administrative Collateral Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable lawLaw, be made at the time and place to which the sale was postponed, or the Administrative Collateral Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place.

Appears in 2 contracts

Samples: Security Agreement (Armstrong World Industries Inc), Security Agreement (Armstrong World Industries Inc)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders of the Secured Obligations shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, or by law (including, without limitation, levy of attachment and garnishment), the rights and remedies of a secured party under the UCC Uniform Commercial Code of the jurisdiction applicable to the affected Collateral and, further, the Administrative Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under by applicable law), (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Agent that is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations Parties with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations Parties all reasonable and documented out-of-pocket costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured ObligationsParty, in enforcing its remedies hereunder including, but not limited to, reasonable and documented attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations Parties or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy CodeDebtor Relief Laws. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice notice, specifying the place of any public sale or the time after which any private sale is to be made, is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Agent and the holders of the Secured Obligations shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, any holder of the Secured Obligations Party may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Agent and the holders of the Secured Obligations Parties may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place.

Appears in 2 contracts

Samples: Security Agreement (Providence Service Corp), Security Agreement (Providence Service Corp)

General Remedies. Upon the occurrence of an Event of Default and during continuation thereof (unless and until such Event of Default has been waived or cured in accordance with the continuation thereofterms of the Credit Agreement), the Administrative Agent and the holders of the Secured Obligations Lenders shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, Credit Documents or by law (including, without limitationbut not limited to, levy the rights and remedies set forth in the Uniform Commercial Code of attachment and garnishmentthe jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the GrantorsObligors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors Obligors to assemble and make available to the Administrative Agent at the expense of the Grantors Obligors any Collateral at any place and time designated by the Administrative Agent that which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors Obligors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations Lenders with respect to the Secured Obligations, the Grantors Obligors shall pay the Administrative Agent and each of the holders of the Secured Obligations Lenders all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured ObligationsLender, including, but not limited to, reasonable attorneys' fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations Lenders or the Grantors Obligors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Codeany bankruptcy, insolvency or similar law. To the extent the rights of notice cannot be legally waived hereunder, each Grantor Obligor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower Obligors in accordance with the notice provisions of Section 11.02 9.2 of the Credit Agreement at least ten Business Days 10 days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Agent and the holders of the Secured Obligations Lenders shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, any holder of the Secured Obligations Lender may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors Obligors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Agent and the holders of the Secured Obligations Lenders may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations Lenders may further postpone such sale by announcement made at such time and place.

Appears in 2 contracts

Samples: Security Agreement (Galey & Lord Inc), Security Agreement (Galey & Lord Inc)

General Remedies. Upon the occurrence of If an Event of Default shall occur and during the continuation thereofbe continuing, the Administrative Agent and the holders Agent, on behalf of the Secured Obligations shall haveParties, may exercise, in addition to the all other rights and remedies provided herein, granted to them in the Loan Documents, this Agreement and in any other documents instrument or agreement securing, evidencing or relating to the Secured Obligations, or by law (including, without limitation, levy of attachment and garnishment), the all rights and remedies of a secured party under the UCC or any other Applicable Law. Without limiting the generality of the jurisdiction applicable to the affected Collateral and, furtherforegoing, the Administrative Agent mayAgent, with without demand of performance or without judicial process other demand, presentment, protest, advertisement or the aid notice of any kind (except any notice required by law referred to below) to or upon any Grantor or any other Person (all and assistance each of others (to the extent permitted under applicable lawwhich demands, defenses, advertisements and notices are hereby waived), may in such circumstances forthwith collect, receive, appropriate and realize upon the Collateral, or any part thereof, and/or may forthwith sell, lease, assign, give option or options to purchase, or otherwise dispose of and deliver the Collateral or any part thereof (i) subject or contract to the rights of tenants in possession, enter on any premises on which do any of the Collateral may be located andforegoing), without resistance in one or interference by the Grantorsmore parcels at public or private sale or sales, take possession at any exchange, broker’s board or office of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent or any Secured Party or elsewhere upon such terms and conditions as it may deem advisable and at the expense such prices as it may deem best, for cash or on credit or for future delivery without assumption of the Grantors any Collateral at any place and time designated by the credit risk. The Administrative Agent that is reasonably convenient to both parties, (iv) remove or any Collateral from Secured Party shall have the right upon any such premises for the purpose of effecting public sale or other disposition thereofsales, and/or (v) except as provided below in the case of notice required by lawand, without demand and without advertisement, notice or hearing, all of which each of the Grantors hereby waives to the fullest extent permitted by law, at upon any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed or sales, to have been made in a commercially reasonable manner. Neither purchase the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent whole or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Agent and the holders of the Secured Obligations shall not be obligated to make any sale or other disposition part of the Collateral regardless so sold, free of notice having been givenany right or equity of redemption in any Grantor, which right or equity is hereby waived and released. To the extent permitted by applicable law, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable lawApplicable Law, each of the Grantors hereby Grantor waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable lawclaims, damages and demands it may acquire against the Administrative Agent and the holders or any Secured Party arising out of the Secured Obligations may postpone or cause the postponement exercise by them of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, rights hereunder except to the extent permitted by applicable lawany such claims, be made at the time and place to which the sale was postponeddamages, or demands result solely from the gross negligence or willful misconduct of the Administrative Agent or any Secured Party, as determined by a court of competent jurisdiction by a final and the holders nonappealable judgment, in each case against whom such claim is asserted. If any notice of the Secured Obligations may further postpone a proposed sale or other disposition of Collateral shall be required by law, such notice shall be deemed reasonable and proper if given at least ten (10) days before such sale by announcement made at such time and placeor other disposition.

Appears in 2 contracts

Samples: Collateral Agreement (Jack in the Box Inc /New/), Collateral Agreement (Jack in the Box Inc /New/)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Collateral Agent and the holders of the Secured Obligations shall have, in addition to the rights and remedies provided herein, in the Loan other Indenture Documents, in any other documents relating to the Secured Obligations, or by law Law (including, without limitationbut not limited to, levy of attachment attachment, garnishment and garnishmentthe rights and remedies set forth in the UCC of the jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Collateral Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the GrantorsObligors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors Obligors to assemble and make available to the Administrative Collateral Agent at the expense of the Grantors Obligors any Collateral at any place and time designated by the Administrative Collateral Agent that which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors Obligors hereby waives to the fullest extent permitted by lawLaw, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private salesale (which in the case of a private sale of Pledged Equity, shall be to a restricted group of purchasers who will be obligated to agree, among other things, to acquire such securities for their own account, for investment and not with a view to the distribution or resale thereof), at any exchange or broker’s board or elsewhere, by one or more contracts, in one or more parcels, for cashMoney, upon credit or otherwise, at such prices and upon such terms as the Administrative Collateral Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors Obligor acknowledges that any such private sale referenced above may be at prices and on terms less favorable to the seller than the prices and other terms that which might have been obtained at a public sale and and, notwithstanding the foregoing, agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable mannermanner and, in the case of a sale of Pledged Equity, that the Collateral Agent shall have no obligation to delay sale of any such securities for the period of time necessary to permit the issuer of such securities to register such securities for public sale under the Securities Act. Neither the Administrative Collateral Agent’s compliance with applicable law Law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor Obligor agrees that any requirement of reasonable notice shall be met if such notice notice, specifying the place of any public sale or the time after which any private sale is to be made, is personally served on or mailed, postage prepaid, to the Borrower Company in accordance with the notice provisions of Section 11.02 13.01 of the Credit Agreement Indenture at least ten Business Days (10) days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Collateral 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. Each Obligor further acknowledges and agrees that any offer to sell any Pledged Equity which has been (i) publicly advertised on a bona fide basis in a newspaper or other publication of general circulation in the financial community of New York, New York (to the extent that such offer may be advertised without prior registration under the Securities Act), or (ii) made privately in the manner described above shall be deemed to involve a “public sale” under the UCC, notwithstanding that such sale may not constitute a “public offering” under the Securities Act, and the holders Collateral Agent may, in such event, bid for the purchase of the Secured Obligations such securities. The Collateral Agent shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable lawLaw, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable lawLaw, each of the Grantors Obligors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable lawLaw, the Administrative Collateral Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable lawLaw, be made at the time and place to which the sale was postponed, or the Administrative Collateral Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place.

Appears in 2 contracts

Samples: Security and Pledge Agreement (StoneX Group Inc.), Security and Pledge Agreement (Intl Fcstone Inc.)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders of the Secured Obligations shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, or by law Law (including, without limitationbut not limited to, levy of attachment attachment, garnishment and garnishmentthe rights and remedies set forth in the UCC of the jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the GrantorsObligors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors Obligors to assemble and make available to the Administrative Agent at the expense of the Grantors Obligors any Collateral at any place and time designated by the Administrative Agent that which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors Obligors hereby waives to the fullest extent permitted by lawLaw, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private salesale (which in the case of a private sale of Pledged Equity, shall be to a restricted group of purchasers who will be obligated to agree, among other things, to acquire such securities for their own account, for investment and not with a view to the distribution or resale thereof), at any exchange or broker’s board or elsewhere, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors Obligor acknowledges that any such private sale referenced above may be at prices and on terms less favorable to the seller than the prices and other terms that which might have been obtained at a public sale and and, notwithstanding the foregoing, agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable mannermanner and, in the case of a sale of Pledged Equity, that the Administrative Agent shall have no obligation to delay sale of any such securities for the period of time necessary to permit the issuer of such securities to register such securities for public sale under the Securities Act of 1933. Neither the Administrative Agent’s compliance with applicable law Law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor Obligor agrees that any requirement of reasonable notice shall be met if such notice notice, specifying the place of any public sale or the time after which any private sale is to be made, is personally served on or mailed, postage prepaid, to the Borrower Obligors in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days 10 days before the time of sale or other event giving rise to the requirement of such notice. Each Obligor further acknowledges and agrees that any offer to sell any Pledged Equity which has been (i) publicly advertised on a bona fide basis in a newspaper or other publication of general circulation in the financial community of New York, New York (to the extent that such offer may be advertised without prior registration under the Securities Act of 1933), or (ii) made privately in the manner described above shall be deemed to involve a “public sale” under the UCC, notwithstanding that such sale may not constitute a “public offering” under the Securities Act of 1933, and the Administrative Agent may, in such event, bid for the purchase of such securities. The Administrative Agent and the holders of the Secured Obligations shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable lawLaw, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable lawLaw, each of the Grantors Obligors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable lawLaw, the Administrative Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable lawLaw, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place.

Appears in 2 contracts

Samples: Security and Pledge Agreement (Balchem Corp), Security and Pledge Agreement (Balchem Corp)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders of the Secured Obligations shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, or by law (including, without limitation, levy of attachment and garnishment), the rights and remedies of a secured party under the UCC of the jurisdiction applicable to the affected Collateral and, further, the Administrative Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Agent that is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Agent and the holders of the Secured Obligations shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place.

Appears in 2 contracts

Samples: Security Agreement (Ict Group Inc), Security Agreement (Ict Group Inc)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Collateral Agent and the holders of the Secured Obligations shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, or by law Law (including, without limitation, including levy of attachment attachment, garnishment and garnishmentthe rights and remedies set forth in the UCC of the jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Collateral Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Collateral Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Collateral Agent that which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors hereby waives to the fullest extent permitted by lawLaw, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private salesale (which in the case of a private sale of equity interests, shall be to a restricted group of purchasers who will be obligated to agree, among other things, to acquire such securities for their own account, for investment and not with a view to the distribution or resale thereof), at any exchange or broker’s board or elsewhere, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Collateral Agent deems advisable, in its sole reasonable discretion (subject to any and all mandatory legal requirements). Each of the Grantors Grantor acknowledges that any such private sale referenced above may be at prices and on terms less favorable to the seller than the prices and other terms that which might have been obtained at a public sale and and, notwithstanding the foregoing, agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable mannermanner and, in the case of a sale of equity interests, that the Collateral Agent shall have no obligation to delay sale of any such securities for the period of time necessary to permit the issuer of such securities to register such securities for public sale under the Securities Act of 1933. Neither the Administrative Collateral Agent’s compliance with applicable law Law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice notice, specifying the place of any public sale or the time after which any private sale is to be made, is personally served on or mailed, postage prepaid, to the Borrower Grantors in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days 10 days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Collateral 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 holders of the Secured Obligations time and place to which it was so adjourned. The Collateral Agent shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable lawLaw, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable lawLaw, each of the Grantors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable lawLaw, the Administrative Collateral Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable lawLaw, be made at the time and place to which the sale was postponed, or the Administrative Collateral Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place.

Appears in 2 contracts

Samples: Security Agreement (Huron Consulting Group Inc.), Security Agreement (Huron Consulting Group Inc.)

General Remedies. Upon the occurrence of If an Event of Default shall occur and during the continuation thereofbe continuing, the Administrative Agent and the holders Agent, on behalf of the Secured Obligations shall haveLenders, may exercise, in addition to the all other rights and remedies provided herein, granted to them in the Loan Documents, this Agreement and in any other documents instrument or agreement securing, evidencing or relating to the Secured Obligations, or by law (including, without limitation, levy of attachment and garnishment), the all rights and remedies of a secured party under the UCC or any other Applicable Law. Without limiting the generality of the jurisdiction applicable to the affected Collateral and, furtherforegoing, the Administrative Agent mayAgent, with without demand of performance or without judicial process other demand, presentment, protest, advertisement or the aid notice of any kind (except any notice required by law referred to below) to or upon any Grantor or any other Person (all and assistance each of others (to the extent permitted under applicable lawwhich demands, defenses, advertisements and notices are hereby waived), may in such circumstances forthwith collect, receive, appropriate and realize upon the Collateral, or any part thereof, and/or may forthwith sell, lease, assign, give option or options to purchase, or otherwise dispose of and deliver the Collateral or any part thereof (i) subject or contract to the rights of tenants in possession, enter on any premises on which do any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Agent that is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice or hearing, all of which each of the Grantors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contractsforegoing), in one or more parcels, for cash, upon credit parcels at public or otherwiseprivate sale or sales, at such prices and upon such terms as the Administrative Agent deems advisableany exchange, in its sole discretion (subject to any and all mandatory legal requirements). Each broker’s board or office of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any Lender or elsewhere upon such holder of the Secured Obligationsterms and conditions as it may deem advisable and at such prices as it may deem best, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining for cash or liquidating the Collateral, in enforcing payment of the Secured Obligations, on credit or in the prosecution or defense for future delivery without assumption of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days before the time of sale or other event giving rise to the requirement of such noticecredit risk. The Administrative Agent and the holders of the Secured Obligations shall not be obligated to make may disclaim all warranties in connection with any sale or other disposition of the Collateral, including, without limitation, all warranties of title, possession, quiet enjoyment and the like. The Administrative Agent or any Lender shall have the right upon any such public sale or sales, and, to the extent permitted by law, upon any such private sale or sales, to purchase the whole or any part of the Collateral regardless so sold, free of notice having been givenany right or equity of redemption in any Grantor, which right or equity is hereby waived and released. Each Grantor further agrees, at the Administrative Agent’s request, to assemble the Collateral and make it available to the Administrative Agent at places which the Administrative Agent shall reasonably select, whether at such Grantor’s premises or elsewhere. To the extent permitted by applicable law, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable lawApplicable Law, each of the Grantors hereby Grantor waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable lawclaims, damages and demands it may acquire against the Administrative Agent and the holders or any Lender arising out of the Secured Obligations may postpone or cause the postponement exercise by them of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, rights hereunder except to the extent permitted by applicable lawany such claims, be made at the time and place to which the sale was postponeddamages, or demands result solely from the gross negligence or willful misconduct of the Administrative Agent or any Lender, in each case against whom such claim is asserted. If any notice of a proposed sale or other disposition of Collateral shall be required by law, such notice shall be deemed reasonable and the holders proper if given at least ten (10) days before such sale or other disposition. The Administrative Agent may reject or refuse to accept any Collateral for credit toward payment of the Secured Obligations may further postpone such sale by announcement made at such time and placethat is an obligation or property of any kind due from, owed by, or belonging to, a Sanctioned Person.

Appears in 2 contracts

Samples: Credit Agreement (Tuesday Morning Corp/De), Credit Agreement (Tuesday Morning Corp/De)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Collateral Agent and the holders of the Secured Obligations shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, or by law Law (including, without limitation, including levy of attachment attachment, garnishment and garnishmentthe rights and remedies set forth in the UCC of the jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Collateral Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law), (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Agent that is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by lawothers, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors Pledgors hereby waives to the fullest extent permitted by lawLaw, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private salesale (which in the case of a private sale of Pledged Equity, shall be to a restricted group of purchasers who will be obligated to agree, among other things, to acquire such securities for their own account, for investment and not with a view to the distribution or resale thereof), at any exchange or broker’s board or elsewhere, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Collateral Agent deems advisable, in its sole reasonable discretion (subject to any and all mandatory legal requirements). Each of the Grantors Pledgor acknowledges that any such private sale referenced above may be at prices and on terms less favorable to the seller than the prices and other terms that which might have been obtained at a public sale and and, notwithstanding the foregoing, agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable mannermanner and, in the case of a sale of Pledged Equity, that the Collateral Agent shall have no obligation to delay sale of any such securities for the period of time necessary to permit the issuer of such securities to register such securities for public sale under the Securities Act of 1933. Neither the Administrative Collateral Agent’s compliance with applicable law Law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor Pledgor agrees that any requirement of reasonable notice shall be met if such notice notice, specifying the place of any public sale or the time after which any private sale is to be made, is personally served on or mailed, postage prepaid, to the Borrower Pledgors in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days 10 days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Collateral 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. Each Pledgor further acknowledges and agrees that any offer to sell any Pledged Equity which has been (i) publicly advertised on a bona fide basis in a newspaper or other publication of general circulation in the financial community of New York, New York (to the extent that such offer may be advertised without prior registration under the Securities Act of 1933), or (ii) made privately in the manner described above shall be deemed to involve a “public sale” under the UCC, notwithstanding that such sale may not constitute a “public offering” under the Securities Act of 1933, and the holders Collateral Agent may, in such event, bid for the purchase of the Secured Obligations such securities. The Collateral Agent shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable lawLaw, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable lawLaw, each of the Grantors Pledgors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable lawLaw, the Administrative Collateral Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable lawLaw, be made at the time and place to which the sale was postponed, or the Administrative Collateral Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place.

Appears in 2 contracts

Samples: Pledge Agreement (Huron Consulting Group Inc.), Pledge Agreement (Huron Consulting Group Inc.)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders of the Secured Obligations Lenders shall have, in addition to the rights and remedies provided herein, in the Loan Credit Documents, in any other documents relating to the Secured Obligations, Hedging Agreement or by law (including, without limitationbut not limited to, levy of attachment attachment, garnishment, and garnishmentthe rights and remedies set forth in the Uniform Commercial Code of the jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Agent may, with or without judicial process or the aid and assistance of others (others, to the extent permitted under applicable by law), (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the GrantorsObligors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors Obligors to assemble and make available to the Administrative Agent at the expense of the Grantors Obligors any Collateral at any place and time designated by the Administrative Agent that which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors Obligors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with any applicable state or federal law in the conduct of such sale, nor its disclaimer of any warranties relating to the Collateral Collateral, shall be considered to adversely affect the commercial reasonableness of any such sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations Lenders with respect to the Secured Obligations, the Grantors Obligors shall pay the Administrative Agent and each of the holders of the Secured Obligations Lenders all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured ObligationsLender, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations Lenders or the Grantors Obligors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor Obligor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower applicable Obligor in accordance with the notice provisions of Section 11.02 9.2 of the Credit Agreement at least ten Business Days 10 days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Agent and the holders of the Secured Obligations Lenders shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, any holder of the Secured Obligations Lender may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors Obligors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Agent and the holders of the Secured Obligations Lenders may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations Lenders may further postpone such sale by announcement made at such time and place.

Appears in 2 contracts

Samples: Security Agreement (Red Robin Gourmet Burgers Inc), Security Agreement (Red Robin Gourmet Burgers Inc)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders of the Secured Obligations Lenders shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, Credit Documents or by law (including, without limitationbut not limited to, levy the rights and remedies set forth in the Uniform Commercial Code of attachment and garnishmentthe jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC to the extent permitted by law (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the GrantorsObligors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors Obligors to assemble and make available to the Administrative Agent at the expense of the Grantors Obligors any Collateral at any place and time designated by the Administrative Agent that which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors Obligors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations Lenders with respect to the Secured Obligations, the Grantors Obligors shall pay the Administrative Agent and each of the holders of the Secured Obligations Lenders all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured ObligationsLender, including, but not limited to, reasonable attorneys' fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations Lenders or the Grantors Obligors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor Obligor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 12.1 of the Credit Agreement at least ten Business Days 10 days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Agent and the holders of the Secured Obligations Lenders shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, any holder of the Secured Obligations Lender may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors Obligors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Agent and the holders of the Secured Obligations Lenders may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations Lenders may further postpone such sale by announcement made at such time and place.

Appears in 1 contract

Samples: Security Agreement (Ivex Packaging Corp /De/)

General Remedies. Upon the occurrence of If an Event of Default shall occur and during the continuation thereofbe continuing, the Administrative Agent and the holders of the Secured Obligations shall haveAgent, in addition to the all other rights and remedies provided herein, granted to it in the Loan Documents, this Agreement and in any other documents instrument or agreement securing, evidencing or relating to the Secured Obligations, or by law (including, without limitation, levy of attachment and garnishment), the all rights and remedies of a secured party under the UCC or any other applicable law. Without limiting the generality of the jurisdiction applicable to the affected Collateral and, furtherforegoing, the Administrative Agent mayAgent, with without demand of performance or without judicial process other demand, presentment, protest, advertisement or the aid notice of any kind (except any notice required by law referred to below) to or upon any Grantor or any other Person (all and assistance each of others (to the extent permitted under applicable lawwhich demands, defenses, advertisements and notices are hereby waived), may in such circumstances forthwith collect, receive, appropriate and realize upon the Collateral, or any part thereof, and/or may forthwith sell, lease, assign, give option or options to purchase, or otherwise dispose of and deliver the Collateral or any part thereof (i) subject or contract to the rights of tenants in possession, enter on any premises on which do any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Agent that is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice or hearing, all of which each of the Grantors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contractsforegoing), in one or more parcelsparcels at public or private sale or sales, for cashat any exchange, broker’s board or office of the Agent or elsewhere upon credit or otherwise, such terms and conditions as it may deem advisable and at such prices and upon such terms as the Administrative it may deem best, for cash or on credit or for future delivery without assumption of any credit risk. The Agent deems advisable, may disclaim any warranties in its sole discretion (subject to connection with any and all mandatory legal requirements). Each sale or other disposition of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any warranties of title, possession, quiet enjoyment and the foregoing arising inlike. The Agent shall have the right upon any such public sale or sales, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaidand, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days before the time of extent permitted by law, upon any such private sale or other event giving rise sales, to purchase the requirement of such notice. The Administrative Agent and the holders of the Secured Obligations shall not be obligated to make whole or any sale or other disposition part of the Collateral regardless so sold, free of notice having been givenany right or equity of redemption in any Grantor, which right or equity is hereby waived and released. Each Grantor further agrees, at the Agent’s request, to assemble the Collateral and make it available to the Agent at places which the Agent shall reasonably select, whether at such Grantor’s premises or elsewhere. To the extent permitted by applicable law, any holder the Grantor waives all claims, damages and demands it may acquire against the Agent arising out of the Secured Obligations may be a purchaser at exercise by it of any such sale. To the extent permitted by applicable law, each of the Grantors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, hereunder except to the extent permitted any such claims, damages, or demands result solely from the gross negligence or willful misconduct of the Agent. If any notice of a proposed sale or other disposition of Collateral shall be required by applicable law, such notice shall be made deemed reasonable and proper if given at least ten (10) days before such sale or other disposition. Effective upon the time occurrence and place during the continuance of an Event of Default, the Agent is hereby granted a license or other right to which the sale was postponeduse, without charge, each Grantor’s labels, Patents, Copyrights, rights of use of any name, trade secrets, tradenames, Trademarks and advertising matter, or any property of a similar nature, as it pertains to the Administrative Agent Collateral, in advertising for sale and selling any Collateral, and each Grantor’s rights under all licenses and all franchise agreements shall inure to the holders of the Secured Obligations may further postpone such sale by announcement made at such time and placeAgent’s benefit.

Appears in 1 contract

Samples: Security Agreement (H-Cyte, Inc.)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders of the Secured Obligations shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, or by law Law (including, without limitationbut not limited to, levy of attachment attachment, garnishment and garnishmentthe rights and remedies set forth in the UCC of the jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral). Additionally the Administrative Agent may sell all or any part of the Collateral andat public or private sale in accordance with the UCC, furtherwithout advertisement, in such manner and order as the Administrative Agent may elect. Any Lender may purchase the Collateral for its own account at any such sale. The Administrative Agent shall give the Obligor such notice of any public or private sale as may be required by the UCC, provided that to the extent notice of any such sale is required by the UCC or other applicable law, the Obligor agrees that at least 10 days notice to the Obligor of the time and place of any public sale or the time after which any private sale is to be made shall constitute reasonable notification and provided further that, if the Administrative Agent fails to comply with this sentence in any respect, its liability for such failure shall be limited to the liability (if any) imposed on it as a matter of law under the UCC or other applicable law. The Obligor acknowledges that Collateral may be sold at a loss to the Obligor, and that, in such event, the Administrative Agent may, with shall have no liability or without judicial process or the aid and assistance of others (responsibility to the extent permitted under applicable law), (i) subject to the rights of tenants Obligor for such loss. The Obligor further acknowledges that a private sale may result in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Agent that is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice or hearing, all of which each of the Grantors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on other terms less favorable to the seller than the prices and terms that might have been obtained at if such sale were a public sale and and, notwithstanding such circumstances, agrees (to the extent permitted by applicable law) that no such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Agent and the holders of the Secured Obligations shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further noticeshall, to the extent permitted by applicable law, be made at the time deemed not to be “commercially reasonable” solely as a result of such prices and place to which the other sale was postponedterms. Upon any such sale, or the Administrative Agent shall have the right to deliver, assign and transfer to the buyer thereof the Collateral so sold. Each buyer at any such sale shall hold the Collateral so sold absolutely and free from any claim or right of whatsoever kind, including any equity or right of redemption of the Obligor that may be waived or any other right or claim of the Obligor, and the holders Obligor, to the extent permitted by law, hereby specifically waives all rights of redemption, stay or appraisal that the Obligor has or may have under any law now existing or hereafter adopted. Without limiting any other rights and remedies available to the Administrative Agent, the Obligor expressly acknowledges and agrees that with respect to Collateral consisting of notes, bonds or other securities which are not sold on a recognized market, the Administrative Agent shall be deemed to have conducted a commercially reasonable sale of such Collateral if (a) such sale is conducted by any nationally recognized broker dealer (including any affiliate of the Secured Obligations may further postpone Administrative Agent), investment banker or any other method common in the securities industry, and (b) if the purchaser is the Administrative Agent or any affiliate of the Administrative Agent, the sale price received by the Administrative Agent in connection with such sale is reasonably supported by announcement made at such time quotations received from one or more other nationally recognized broker-dealers, investment bankers or other financial institutions. The Obligor agrees that the Collateral may be sold as provided for in this Agreement and placeexpressly waives any rights of notice of sale, advertisement procedures, or related provisions granted under applicable law, including the New York Lien Law.

Appears in 1 contract

Samples: Letter of Credit Facility Agreement (GT Solar International, Inc.)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders of the Secured Obligations Lenders shall have, in addition to the rights and remedies provided herein, in the Loan Credit Documents, or (as to any Lender or its affiliate that is party thereto) in any other documents relating Lender Hedging Agreement or in any agreement pertaining to the Secured Obligations, Cash Management Products or by law (including, without limitationbut not limited to, levy of attachment attachment, garnishment and garnishmentthe rights and remedies set forth in the Uniform Commercial Code of the jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the GrantorsObligors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors Obligors to assemble and make available to the Administrative Agent at the expense of the Grantors Obligors any Collateral at any place and time designated by the Administrative Agent that which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice or hearing, all of which each of the Grantors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements)discretion. Each of the Grantors acknowledges The Obligors agree that they shall not assert that any private sale referenced above may be at prices and on terms less favorable to action taken by the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made Agent in a commercially reasonable manner. Neither the Administrative Agent’s compliance with any applicable state or federal law in the conduct of such sale, nor its disclaimer of in disclaiming any warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any saleCollateral, made such sale not commercially reasonable. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations Lenders with respect to the Secured Obligations, the Grantors Obligors shall pay the Administrative Agent and each of the holders of the Secured Obligations Lenders all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured ObligationsLender, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations Lenders or the Grantors Obligors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Codeany bankruptcy, insolvency or similar law. To the extent the rights of notice cannot be legally waived hereunder, each Grantor Obligor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower Obligors in accordance with the notice provisions of Section 11.02 14.4 of the Credit Agreement at least ten Business Days (10) days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Agent and the holders of the Secured Obligations Lenders shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, the Agent and any holder of the Secured Obligations Lender may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors Obligors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Agent and the holders of the Secured Obligations Lenders may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations Lenders may further postpone such sale by announcement made at such time and place.

Appears in 1 contract

Samples: Pledge Agreement (Transmontaigne Inc)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Collateral Agent and the holders of the Secured Obligations shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, or by law Law (including, without limitationbut not limited to, levy of attachment attachment, garnishment and garnishmentthe rights and remedies set forth in the UCC of the jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Collateral Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law), (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Agent that is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by lawothers, without demand and without advertisement, notice notice, hearing or hearingprocess of law (except as otherwise required by Article 9 of the UCC), all of which each of the Grantors Pledgors hereby waives to the fullest extent permitted by lawLaw, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private salesale (which in the case of a private sale of Pledged Equity, shall be to a restricted group of purchasers who will be obligated to agree, among other things, to acquire such securities for their own account, for investment and not with a view to the distribution or resale thereof), at any exchange or broker’s board or elsewhere, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Collateral Agent deems advisable, in its sole reasonable discretion (subject to any and all mandatory legal requirements). Each of the Grantors Pledgor acknowledges that any such private sale referenced above may be at prices and on terms less favorable to the seller than the prices and other terms that which might have been obtained at a public sale and and, notwithstanding the foregoing, agrees (to the extent permitted by applicable law) that such fact shall not, solely as a result thereof, render such private sale shall to be deemed to have been made in a commercially reasonable mannerunreasonable manner and, in the case of a sale of Pledged Equity, that the Collateral Agent shall have no obligation to delay sale of any such securities for the period of time necessary to permit the issuer of such securities to register such securities for public sale under the Securities Act of 1933. Neither the Administrative Collateral Agent’s compliance with applicable law Law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor Pledgor agrees that any requirement of reasonable notice shall be met if such notice notice, specifying the place of any public sale or the time after which any private sale is to be made, is personally served on or mailed, postage prepaid, to the Borrower Pledgors in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days 10 days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Collateral 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. Each Pledgor further acknowledges and agrees that any offer to sell any Pledged Equity which has been (i) publicly advertised on a bona fide basis in a newspaper or other publication of general circulation in the financial community of New York, New York (to the extent that such offer may be advertised without prior registration under the Securities Act of 1933), or (ii) made privately in the manner described above shall be deemed to involve a “public sale” under the UCC, notwithstanding that such sale may not constitute a “public offering” under the Securities Act of 1933, and the holders Collateral Agent may, in such event, bid for the purchase of the Secured Obligations such securities. The Collateral Agent shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable lawLaw, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable lawLaw, each of the Grantors Pledgors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable lawLaw, the Administrative Collateral Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable lawLaw, be made at the time and place to which the sale was postponed, or the Administrative Collateral Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place.

Appears in 1 contract

Samples: Pledge Agreement (Huron Consulting Group Inc.)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Collateral Agent and the holders of the Secured Obligations shall have, in addition to the rights and remedies provided herein, in the Loan Credit Documents, in any other documents relating to the Secured Obligations, or by law Law (including, without limitation, including levy of attachment and garnishment), the rights and remedies of a secured party under the UCC of the jurisdiction applicable to the affected Collateral and, further, the Administrative Collateral Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Collateral Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Collateral Agent that is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of Law, all of which each of the Grantors hereby waives to the fullest extent permitted by lawLaw, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Collateral Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the CHAR1\887101v3 prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Collateral Agent’s compliance with applicable law Law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Collateral Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Collateral Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Collateral Agent or any such holder of the Secured Obligations, including, but not limited to, Obligations (including reasonable attorneys’ fees and disbursements and court costs, ) in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Collateral Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, including any of the foregoing arising in, arising under or related to a case under the Bankruptcy CodeDebtor Relief Laws. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Collateral Agent and the holders of the Secured Obligations shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable lawLaw, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable lawLaw, each of the Grantors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable lawLaw, the Administrative Collateral Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable lawLaw, be made at the time and place to which the sale was postponed, or the Administrative Collateral Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place.

Appears in 1 contract

Samples: Security Agreement (Rehabcare Group Inc)

General Remedies. Upon the occurrence of an Event of Default and during the continuation continuance thereof, the Administrative Collateral Agent and the holders of the Secured Obligations shall have, in addition to the rights and remedies provided herein, in the Loan Credit Documents, in any other documents relating to the Secured Obligations, or by law (including, without limitation, levy of attachment and garnishment), the rights and remedies of a secured party under the UCC of the jurisdiction applicable to the affected Collateral and, further, the Administrative Collateral Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under by applicable law), (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Collateral Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Collateral Agent that which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Collateral Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and other terms that which might have been obtained at a public sale and and, notwithstanding the foregoing, agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Collateral Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Collateral Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Collateral Agent or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys' fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Collateral Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case concerning a Grantor under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower Company in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Collateral Agent and the holders of the Secured Obligations shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Collateral Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Collateral Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place.

Appears in 1 contract

Samples: Security Agreement (Loral Space & Communications LTD)

General Remedies. Upon the occurrence of If an Event of Default shall occur and during the continuation thereofbe continuing, the Administrative Agent and the holders Agent, on behalf of the Secured Obligations shall haveLenders, may exercise, in addition to the all other rights and remedies provided herein, granted to them in the Loan Documents, this Agreement and in any other documents instrument or agreement securing, evidencing or relating to the Secured Obligations, or by law (including, without limitation, levy of attachment and garnishment), the all rights and remedies of a secured party under the UCC or any other applicable Law. Without limiting the generality of the jurisdiction applicable to the affected Collateral and, furtherforegoing, the Administrative Agent, without demand of performance or other demand, presentment, protest, advertisement or notice of any kind (except any notice required by law referred to below) to or upon any Grantor or any other Person (all and each of which demands, defenses, advertisements and notices are hereby waived), may in such circumstances forthwith collect, receive, appropriate and realize upon the Collateral, or any part thereof, and/or may forthwith sell, lease, assign, give option or options to purchase, or otherwise dispose of and deliver the Collateral or any part thereof (or contract to do any of the foregoing), in one or more parcels at public or private sale or sales, at any exchange, broker's board or office of the Administrative Agent mayor any Lender or elsewhere upon such terms and conditions as it may deem advisable and at such prices as it may deem best, with for cash or on credit or for future delivery without judicial process assumption of any credit risk. The Administrative Agent may disclaim any warranties of title, possession and quiet enjoyment. The Administrative Agent or any Lender shall have the aid and assistance of others (right upon any such public sale or sales, and, to the extent permitted under by applicable law)Law, (i) subject upon any such private sale or sales, to purchase the rights of tenants in possession, enter on whole or any premises on which any part of the Collateral may be located andso sold, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose free of any Collateral on right or equity of redemption in any such premisesGrantor, (iii) require which right or equity is hereby waived and released. Each Grantor further agrees, at the Grantors Administrative Agent's request, to assemble the Collateral and make it available to the Administrative Agent at the expense of the Grantors any Collateral at any place and time designated by places which the Administrative Agent that is shall reasonably convenient to both partiesselect, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice or hearing, all of which each of the Grantors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, whether at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent Grantor's premises or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Agent and the holders of the Secured Obligations shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been givenelsewhere. To the extent permitted by applicable law, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable lawLaw, each of the Grantors hereby Grantor waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable lawclaims, damages and demands it may acquire against the Administrative Agent and the holders or any Lender arising out of the Secured Obligations may postpone or cause the postponement exercise by them of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, rights hereunder except to the extent permitted by applicable lawany such claims, be made at the time and place to which the sale was postponeddamages, or demands result solely from the gross negligence or willful misconduct of the Administrative Agent or any Lender, in each case against whom such claim is asserted. If any notice of a proposed sale or other disposition of Collateral shall be required by applicable Law, such notice shall be deemed reasonable and the holders of the Secured Obligations may further postpone proper if given at least ten (10) days before such sale by announcement made at such time and placeor other disposition.

Appears in 1 contract

Samples: Collateral Agreement (Venture Holdings, Inc.)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders Lender on behalf of the Secured Obligations Parties shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, or by law any applicable Law (including, without limitationbut not limited to, levy of attachment attachment, garnishment and garnishmentthe rights and remedies set forth in the UCC of the jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Agent Lender may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent Lender at the expense of the Grantors any Collateral at any place and time designated by the Administrative Agent that Lender which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting the sale or other disposition thereof, and/or or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors hereby waives to the fullest extent permitted by lawLaw, at any place and time or times, sell sell, lease, assign, give option or options to purchase, or otherwise dispose of and deliver the Collateral or any part thereof (or contract to do any of the foregoing), in one or more parcels any or all Collateral held by or for it at public or private salesale (which in the case of a private sale of Pledged Equity, shall be to a restricted group of purchasers who will be obligated to agree, among other things, to acquire such securities for their own account, for investment and not with a view to the distribution or resale thereof), at any exchange or broker’s board or elsewhere, by one or more contracts, in one or more parcels, for cashmoney, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent Lender deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors Grantor acknowledges that any such private sale referenced above may be at prices and on terms less favorable to the seller than the prices and other terms that which might have been obtained at a public sale and and, notwithstanding the foregoing, agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable mannermanner and, in the case of a sale of Pledged Equity, that the Lender shall have no obligation to delay sale of any such securities for the period of time necessary to permit the Issuer of such securities to register such securities for public sale under the Securities Act of 1933. The Lender shall have the right upon any such public sale or sales, and, to the extent permitted by applicable Law, upon any such private sale or sales, to purchase the whole or any part of the Collateral so sold. Neither the Administrative AgentLender’s compliance with applicable law Law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice notice, specifying the place of any public sale or the time after which any private sale is to be made, is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 10.02 of the Credit Agreement at least ten Business Days 10 days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Agent Each Grantor further acknowledges and agrees that any offer to sell any Pledged Equity which has been (A) publicly advertised on a bona fide basis in a newspaper or other publication of general circulation in the financial community of New York, New York (to the extent that such offer may be advertised without prior registration under the Securities Act of 1933), or (B) made privately in the manner described above shall be deemed to involve a “public sale” under the UCC, notwithstanding that such sale may not constitute a “public offering” under the Securities Act of 1933, and the holders Lender may, in such event, bid for the purchase of the Secured Obligations such securities. The Lender shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable lawLaw, any holder of the Secured Obligations Party may be a purchaser at any such sale. To the extent permitted by applicable lawLaw, each of the Grantors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable lawLaw, the Administrative Agent and the holders of the Secured Obligations Lender may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable lawLaw, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations Lender may further postpone such sale by announcement made at such time and place. To the extent permitted by applicable Law, each Grantor waives all claims, damages and demands it may acquire against the Lender or any Secured Party arising out of the exercise by them of any rights hereunder except to the extent (a) any such claims, damages or demands result solely from the gross negligence or willful misconduct of the Lender or any other Secured Party as determined by a final non-appealable judgment of a court of competent jurisdiction, in each case against whom such claim is asserted, or (b) arise from a dispute among such parties and the Grantors are the prevailing party in such dispute. Each Grantor agrees that the internet shall constitute a “place” for purposes of Section 9-610(b) of the UCC and that any sale of Collateral to a licensor pursuant to the terms of a license agreement between such licensor and a Grantor is sufficient to constitute a commercially reasonable sale (including as to method, terms, manner, and time) within the meaning of Section 9-610 of the UCC.

Appears in 1 contract

Samples: Security and Pledge Agreement (Inseego Corp.)

General Remedies. Upon the occurrence of If an Event of Default shall occur and during the continuation thereofbe continuing, the Administrative Agent and the holders Agent, on behalf of the Secured Obligations shall haveParties, may exercise, in addition to the all other rights and remedies provided herein, granted to them in the Loan Documents, this Agreement and in any other documents instrument or agreement securing, evidencing or relating to the Secured Obligations, or by law (including, without limitation, levy of attachment and garnishment), the all rights and remedies of a secured party under the UCC or any other Applicable Law. Without limiting the generality of the jurisdiction applicable to the affected Collateral and, furtherforegoing, the Administrative Agent mayAgent, with without demand of performance or without judicial process other demand, presentment, protest, advertisement or the aid notice of any kind (except any notice required by law referred to below) to or upon any Grantor or any other Person (all and assistance each of others (to the extent permitted under applicable lawwhich demands, defenses, advertisements and notices are hereby waived), may in such circumstances forthwith collect, receive, appropriate and realize upon the Collateral, or any part thereof, and/or may forthwith sell, lease, assign, give option or options to purchase, or otherwise dispose of and deliver the Collateral or any part thereof (i) subject or contract to the rights of tenants in possession, enter on any premises on which do any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Agent that is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice or hearing, all of which each of the Grantors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contractsforegoing), in one or more parcels, for cash, upon credit parcels at public or otherwiseprivate sale or sales, at such prices and upon such terms as the Administrative Agent deems advisableany exchange, in its sole discretion (subject to any and all mandatory legal requirements). Each broker’s board or office of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any Secured Party or elsewhere upon such holder of the Secured Obligationsterms and conditions as it may deem advisable and at such prices as it may deem best, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining for cash or liquidating the Collateral, in enforcing payment of the Secured Obligations, on credit or in the prosecution or defense for future delivery without assumption of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days before the time of sale or other event giving rise to the requirement of such noticecredit risk. The Administrative Agent and the holders of the Secured Obligations shall not be obligated to make may disclaim all warranties in connection with any sale or other disposition of the Collateral, including, without limitation, all warranties of title, possession, quiet enjoyment and the like. The Administrative Agent or any other Secured Party shall have the right upon any such public sale or sales, and, to the extent permitted by law, upon any such private sale or sales, to purchase the whole or any part of the Collateral regardless of notice having been givenso sold; provided that the Administrative Agent shall conduct any such private sale in a commercially reasonable manner. Each Grantor further agrees, at the Administrative Agent’s request, to assemble the Collateral and make it available to the Administrative Agent at places which the Administrative Agent shall reasonably select, whether at such Grantor’s premises or elsewhere. To the extent permitted by applicable law, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable lawApplicable Law, each of the Grantors hereby Grantor waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable lawclaims, damages and demands it may acquire against the Administrative Agent and the holders or any Secured Party arising out of the Secured Obligations may postpone or cause the postponement exercise by them of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, rights hereunder except to the extent permitted by applicable lawany such claims, be made at the time and place to which the sale was postponeddamages, or demands are determined by a court of competent jurisdiction by final nonappealable judgment to have resulted solely from the gross negligence, bad faith or willful misconduct of the Administrative Agent or any other Secured Party, in each case against whom such claim is asserted. If any notice of a proposed sale or other disposition of Collateral shall be required by law, such notice shall be deemed reasonable and the holders of the Secured Obligations may further postpone proper if given at least 10 days before such sale by announcement made at such time and placeor other disposition.

Appears in 1 contract

Samples: Collateral Agreement (Boot Barn Holdings, Inc.)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Collateral Agent and the holders of the Secured Obligations shall have, in addition to the rights and remedies provided herein, in the Loan Credit Documents, in any other documents relating to the Secured Obligations, or by law (including, without limitation, levy of attachment and garnishment), the rights and remedies of a secured party under the UCC of the jurisdiction applicable to the affected Collateral and, further, the Administrative Collateral Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Collateral Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Collateral Agent that is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Collateral Agent deems advisable, in its sole discretion (provided such prices and terms shall be commercially reasonable and otherwise subject to any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Collateral Agent’s 's compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Collateral Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Collateral Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Collateral Agent or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys' fees actually incurred (excluding the allocated cost of internal counsel) and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Collateral Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 11.1 of the Credit Agreement at least ten Business Days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Collateral Agent and the holders of the Secured Obligations shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Collateral Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Collateral Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place.

Appears in 1 contract

Samples: Security Agreement (Accredo Health Inc)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders of the Secured Obligations Lenders shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, Credit Documents or by law (including, without limitationbut not limited to, levy the rights and remedies set forth in the Uniform Commercial Code of attachment and garnishmentthe jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the GrantorsObligors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors Obligors to assemble and make available to the Administrative Agent at the expense of the Grantors Obligors any Collateral at any place and time designated by the Administrative Agent that which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors Obligors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations Lenders with respect to the Secured Obligations, the Grantors Obligors shall pay the Administrative Agent and each of the holders of the Secured Obligations Lenders all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured ObligationsLender, including, but not limited to, reasonable attorneys' fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations Lenders or the Grantors Obligors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Codeany bankruptcy, insolvency or similar law. To the extent the rights of notice cannot be legally waived hereunder, each Grantor Obligor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower Obligors in accordance with the notice provisions of Section 11.02 14.5 of the Credit Agreement at least ten Business Days 10 days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Agent and the holders of the Secured Obligations Lenders shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, any holder of the Secured Obligations Lender may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors Obligors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Agent and the holders of the Secured Obligations Lenders may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations Lenders may further postpone such sale by announcement made at such time and place.

Appears in 1 contract

Samples: Security Agreement (Fresh Foods Inc)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders of the Secured Obligations shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, or by law Law (including, without limitationbut not limited to, levy of attachment attachment, garnishment and garnishmentthe rights and remedies set forth in the UCC of the jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the GrantorsObligors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors Obligors to assemble and make available to the Administrative Agent at the expense of the Grantors Obligors any Collateral at any place and time designated by the Administrative Agent that which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors Obligors hereby waives to the fullest extent permitted by lawLaw, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private salesale (which in the case of a private sale of Pledged Equity, shall be to a restricted group of purchasers who will be obligated to agree, among other things, to acquire such securities for their own account, for investment and not with a view to the distribution or resale thereof), at any exchange or broker's board or elsewhere, by one or more contracts, in one or more parcels, for cashMoney, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors Obligor acknowledges that any such private sale referenced above may be at prices and on terms less favorable to the seller than the prices and other terms that which might have been obtained at a public sale and and, notwithstanding the foregoing, agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable mannermanner and, in the case of a sale of Pledged Equity, that the Administrative Agent shall have no obligation to delay sale of any such securities for the period of time necessary to permit the issuer of such securities to register such securities for public sale under the Securities Act of 1933. Neither the Administrative Agent’s 's compliance with applicable law Law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor Obligor agrees that any requirement of reasonable notice shall be met if such notice notice, specifying the place of any public sale or the time after which any private sale is to be made, is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days 10 days before the time of sale or other event giving rise to the requirement of such notice. The Administrative 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. Each Obligor further acknowledges and agrees that any offer to sell any Pledged Equity which has been (i) publicly advertised on a bona fide basis in a newspaper or other publication of general circulation in the financial community of New York, New York (to the extent that such offer may be advertised without prior registration under the Securities Act of 1933), or (ii) made privately in the manner described above shall be deemed to involve a “public sale” under the UCC, notwithstanding that such sale may not constitute a “public offering” under the Securities Act of 1933, and the holders Administrative Agent may, in such event, bid for the purchase of the Secured Obligations such securities. The Administrative Agent shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable lawLaw, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable lawLaw, each of the Grantors Obligors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable lawLaw, the Administrative Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable lawLaw, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place.

Appears in 1 contract

Samples: Security and Pledge Agreement (Grand Canyon Education, Inc.)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders of the Secured Obligations shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, or by law (including, without limitation, levy of attachment and garnishment), the rights and remedies of a secured party under the UCC of the jurisdiction applicable to the affected Collateral and, further, the Administrative Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Agent that is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten (10) Business Days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Agent and the holders of the Secured Obligations shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place.

Appears in 1 contract

Samples: Security Agreement (E-Commerce Exchange, Inc)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders of the Secured Obligations shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, or by law (including, without limitation, levy of attachment and garnishment), the rights and remedies of a secured party under the UCC of the jurisdiction applicable to the affected Collateral and, further, the Administrative Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under by applicable law), (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Agent that is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, thereof and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured ObligationsObligations in enforcing its remedies hereunder, including, but not limited to, reasonable attorneys’ fees Attorney Costs and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To Each Grantor agrees that, to the extent the rights notice of notice cansale shall be required by law and has not be legally been waived hereunderby such Grantor, each Grantor agrees that any requirement of reasonable notice shall be met if such notice notice, specifying the place of any public sale or the time after which any private sale is to be made, is personally served on or mailed, postage prepaid, to the Borrower such Grantor, in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days days before the time of sale or other event giving rise to the requirement of such noticesale. The Administrative Agent and the holders of the Secured Obligations shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place.

Appears in 1 contract

Samples: Security Agreement (Fti Consulting Inc)

AutoNDA by SimpleDocs

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Collateral Agent and the holders of the Secured Obligations shall have, in addition to the rights and remedies provided herein, in the Loan Credit Documents, in any other documents relating to the Secured Obligations, or by law Applicable Law (including, without limitationbut not limited to, levy of attachment attachment, garnishment and garnishmentthe rights and remedies set forth in the UCC of the jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Collateral Agent may, with or without judicial process or the aid and assistance of others (in each case of clauses (i) through (v), inclusive, hereof, subject to any and all mandatory legal requirements to the extent permitted under applicable lawnot waived), (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the GrantorsObligors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors Obligors to assemble and make available to the Administrative Collateral Agent at the expense of the Grantors Obligors any Collateral at any place and time designated by the Administrative Collateral Agent that which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting the sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors Obligors hereby waives to the fullest extent permitted by lawApplicable Law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private salesale (which in the case of a private sale of Pledged Equity, shall be to a restricted group of purchasers who will be obligated to agree, among other things, to acquire such securities for their own account, for investment and not with a view to the distribution or resale thereof), at any exchange or broker’s board or elsewhere, by one or more contracts, in one or more parcels, for cashMoney, upon credit or otherwise, at such prices and upon such terms as the Administrative Collateral Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements)discretion. Each of the Grantors Obligor acknowledges that any such private sale referenced above may be at prices and on terms less favorable to the seller than the prices and other terms that which might have been obtained at a public sale and and, notwithstanding the foregoing, agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable mannermanner and, in the case of a sale of Pledged Equity, that the Collateral Agent shall have no obligation to delay sale of any such securities for the period of time necessary to permit the issuer of such securities to register such securities for public sale under the Securities Act of 1933. Neither the Administrative Collateral Agent’s compliance with applicable law Applicable Law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor Obligor agrees that any requirement of reasonable notice shall be met if such notice notice, specifying the place of any public sale or the time after which any private sale is to be made, is personally served on or mailed, postage prepaid, to the Borrower Obligors in accordance with the notice provisions of Section 11.02 11.1 of the Credit Agreement at least ten Business Days (10) days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Collateral 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. Each Obligor further acknowledges and agrees that any offer to sell any Pledged Equity which has been (A) publicly advertised on a bona fide basis in a newspaper or other publication of general circulation in the financial community of New York, New York (to the extent that such offer may be advertised without prior registration under the Securities Act of 1933), or (B) made privately in the manner described above shall be deemed to involve a “public sale” under the UCC, notwithstanding that such sale may not constitute a “public offering” under the Securities Act of 1933, and the holders Collateral Agent may, in such event, bid for the purchase of the Secured Obligations such securities. The Collateral Agent shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable lawApplicable Law, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable lawApplicable Law, each of the Grantors Obligors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable lawApplicable Law, the Administrative Collateral Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable lawApplicable Law, be made at the time and place to which the sale was postponed, or the Administrative Collateral Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place.

Appears in 1 contract

Samples: Pledge and Security Agreement (Viemed Healthcare, Inc.)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders of the Secured Obligations Lenders shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, Credit Documents or by law (including, without limitationbut not limited to, levy the rights and remedies set forth in the Uniform Commercial Code of attachment and garnishmentthe jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Collateral Agent shall at the direction of the Administrative Agent mayAgent, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the GrantorsObligors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors Obligors to assemble and make available to the Administrative Agent at the expense of the Grantors Obligors any Collateral at any place and time designated by the Administrative Agent that which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors Obligors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent Agents and the holders of the Secured Obligations Lenders with respect to the Secured Obligations, the Grantors Obligors shall pay the Administrative Agent Agents and each of the holders of the Secured Obligations Lenders all reasonable documented costs and expenses actually incurred by the Administrative Agent Agents or any such holder of the Secured ObligationsLender, including, but not limited to, reasonable attorneys' fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent Agents or the holders of the Secured Obligations Lenders or the Grantors Obligors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor Obligor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 11.1 of the Credit Agreement at least ten Business Days 10 days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Agent Agents and the holders of the Secured Obligations Lenders shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, any holder of the Secured Obligations Lender may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors Obligors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Agent and the holders of the Secured Obligations Lenders may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations Lenders may further postpone such sale by announcement made at such time and place.

Appears in 1 contract

Samples: Credit Agreement (Delta Woodside Industries Inc /Sc/)

General Remedies. Upon the occurrence and during the continuance of an Event of Default and during the continuation thereofDefault, the Administrative Agent and the holders on behalf of the Secured Obligations Parties shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, or by law any applicable Law (including, without limitationbut not limited to, levy of attachment attachment, garnishment and garnishmentthe rights and remedies set forth in the UCC of the jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Agent that which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors hereby waives to the fullest extent permitted by lawLaw, at any place and time or times, sell sell, lease, assign, give option or options to purchase, or otherwise dispose of and deliver the Collateral or any part thereof (or contract to do any of the foregoing), in one or more parcels any or all Collateral held by or for it at public or private salesale (which in the case of a private sale of Pledged Equity, shall be to a restricted group of purchasers who will be obligated to agree, among other things, to acquire such securities for their own account, for investment and not with a view to the distribution or resale thereof), at any exchange or broker’s board or elsewhere, by one or more contracts, in one or more parcels, for cashmoney, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements)) and/or (vi) complete and tender each internet domain name transfer document in its own name, place and stead of the Grantor in order to effect the transfer of any internet domain name registration, either to the Administrative Agent or to another transferee, as the case may be and maintain, obtain access to, and continue to operate, in its own name or in the name, place and stead of such Grantor, such Grantor’s internet website and the contents thereof, and all related advertising, linking and technology licensing and other contractual relationships, in each case in connection with the maintenance, preservation, operation, sale or other disposition of the Collateral or for any other purpose permitted under the Loan Documents or by applicable Law. Each of the Grantors Grantor acknowledges that any such private sale referenced above may be at prices and on terms less favorable to the seller than the prices and other terms that which might have been obtained at a public sale and and, notwithstanding the foregoing, agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable mannermanner and, in the case of a sale of Pledged Equity, that the Administrative Agent shall have no obligation to delay sale of any such securities for the period of time necessary to permit the Issuer of such securities to register such securities for public sale under the Securities Act of 1933. The Administrative Agent or any other Secured Party shall have the right upon any such public sale or sales, and, to the extent permitted by applicable Law, upon any such private sale or sales, to purchase the whole or any part of the Collateral so sold. Neither the Administrative Agent’s compliance with applicable law Law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice notice, specifying the place of any public sale or the time after which any private sale is to be made, is personally served on or mailed, postage prepaid, to the Borrower Company in accordance with the notice [Hain] Security and Pledge Agreement #66940863 provisions of Section 11.02 10.02 of the Credit Agreement at least ten Business Days (10) days before the time of sale or other event giving rise to the requirement of such notice. Each Grantor further acknowledges and agrees that any offer to sell any Pledged Equity which has been (A) publicly advertised on a bona fide basis in a newspaper or other publication of general circulation in the financial community of New York, New York (to the extent that such offer may be advertised without prior registration under the Securities Act of 1933), or (B) made privately in the manner described above shall be deemed to involve a “public sale” under the UCC, notwithstanding that such sale may not constitute a “public offering” under the Securities Act of 1933, and the Administrative Agent may, in such event, bid for the purchase of such securities. The Administrative Agent and the holders of the Secured Obligations shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable lawLaw, any holder of the Secured Obligations Party may be a purchaser at any such sale. To the extent permitted by applicable lawLaw, each of the Grantors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable lawLaw, the Administrative Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable lawLaw, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place. To the extent permitted by applicable Law, each Grantor waives all claims, damages and demands it may acquire against the Administrative Agent or any Secured Party arising out of the exercise by them of any rights hereunder except to the extent any such claims, damages or demands result solely from the gross negligence or willful misconduct of the Administrative Agent or any other Secured Party as determined by a final non-appealable judgment of a court of competent jurisdiction, in each case against whom such claim is asserted. Each Grantor agrees that the internet shall constitute a “place” for purposes of Section 9-610(b) of the UCC and that any sale of Collateral to a licensor pursuant to the terms of a license agreement between such licensor and a Grantor is sufficient to constitute a commercially reasonable sale (including as to method, terms, manner, and time) within the meaning of Section 9-610 of the UCC.

Appears in 1 contract

Samples: Security and Pledge Agreement (Hain Celestial Group Inc)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Collateral Agent and the holders of the Secured Obligations shall have, in addition to the rights and remedies provided herein, in the Loan Credit Documents, in any other documents relating to the Secured Obligations, or by law (including, without limitationbut not limited to, levy of attachment attachment, garnishment and garnishmentthe rights and remedies set forth in the UCC of the jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Collateral Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the GrantorsObligors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors Obligors to assemble and make available to the Administrative Collateral Agent at the expense of the Grantors Obligors any Collateral at any place and time designated by the Administrative Collateral Agent that which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors Obligors hereby waives to the fullest extent permitted by lawApplicable Law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private salesale (which in the case of a private sale of Pledged Equity, shall be to a restricted group of purchasers who will be obligated to agree, among other things, to acquire such securities for their own account, for investment and not with a view to the distribution or resale thereof), at any exchange or broker’s board or elsewhere, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Collateral Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors Obligor acknowledges that any such private sale referenced above may be at prices and on terms less favorable to the seller than the prices and other terms that which might have been obtained at a public sale and and, notwithstanding the foregoing, agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable mannermanner and, in the case of a sale of Pledged Equity, that the Collateral Agent shall have no obligation to delay sale of any such securities for the period of time necessary to permit the issuer of such securities to register such securities for public sale under the Securities Act of 1933. Neither the Administrative Collateral Agent’s compliance with applicable law Applicable Law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor Obligor agrees that any requirement of reasonable notice shall be met if such notice notice, specifying the place of any public sale or the time after which any private sale is to be made, is personally served on or mailed, postage prepaid, to the Borrower Obligors in accordance with the notice provisions of Section 11.02 11.1 of the Credit Agreement at least ten Business Days 10 days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Collateral 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. Each Obligor further acknowledges and agrees that any offer to sell any Pledged Equity which has been (A) publicly advertised on a bona fide basis in a newspaper or other publication of general circulation in the financial community of New York, New York (to the extent that such offer may be advertised without prior registration under the Securities Act of 1933), or (B) made privately in the manner described above shall be deemed to involve a “public sale” under the UCC, notwithstanding that such sale may not constitute a “public offering” under the Securities Act of 1933, and the holders Collateral Agent may, in such event, bid for the purchase of the Secured Obligations such securities. The Collateral Agent shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable lawApplicable Law, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable lawApplicable Law, each of the Grantors Obligors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable lawApplicable Law, the Administrative Collateral Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable lawApplicable Law, be made at the time and place to which the sale was postponed, or the Administrative Collateral Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place.

Appears in 1 contract

Samples: Pledge and Security Agreement (FutureFuel Corp.)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders of the Secured Obligations Lenders shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in Credit Documents or Hedging Agreement between any other documents relating Credit Party and any Lender (to the Secured extent the obligations of such Credit Party thereunder constitute Credit Party Obligations, ) or by law (including, without limitationbut not limited to, levy the rights and remedies set forth in the UCC or equivalent legislation of attachment and garnishmentthe jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC to the extent permitted by law (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Agent may, with or without judicial process or the aid and assistance of others (others, to the extent permitted under by applicable law), (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the GrantorsCredit Parties, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors Credit Parties to assemble and make available to the Administrative Agent at the expense of the Grantors Credit Parties any Collateral at any place and time designated by the Administrative Agent that which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors Credit Parties hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors Credit Parties acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and other terms that which might have been obtained at a public sale and and, notwithstanding the foregoing, agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations Lenders with respect to the Secured Obligations, the Grantors Credit Parties shall pay the Administrative Agent and each of the holders of the Secured Obligations Lenders all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured ObligationsLender, including, but not limited to, reasonable attorneys' fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations Lenders or the Grantors Credit Parties concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case concerning a Credit Party under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor Credit Party agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 11.1 of the Credit Agreement at least ten Business Days 10 days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Agent and the holders of the Secured Obligations Lenders shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, any holder of the Secured Obligations Lender may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors Credit Parties hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Agent and the holders of the Secured Obligations Lenders may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations Lenders may further postpone such sale by announcement made at such time and place.

Appears in 1 contract

Samples: Security Agreement (American Medical Systems Holdings Inc)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and Collateral Agent, for the benefit of the holders of the Secured Obligations Obligations, shall have, in addition to the rights and remedies provided herein, in the Loan Credit Documents, in any other documents relating to the Secured Obligations, or by applicable law (including, without limitation, including levy of attachment and garnishment), the rights and remedies of a secured party under the UCC of the jurisdiction applicable to the affected Collateral and, further, the Administrative Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Collateral Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Collateral Agent that is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Collateral Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Collateral Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Collateral Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Collateral Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Collateral Agent or any such holder of the Secured Obligations, including, but not limited to, Obligations (including reasonable attorneys’ fees and court costs, ) in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Collateral Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, including any of the foregoing arising in, arising under or related to a case under the Bankruptcy CodeDebtor Relief Laws. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Collateral Agent and the holders of the Secured Obligations shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Collateral Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Collateral Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place.

Appears in 1 contract

Samples: Security Agreement (Premiere Global Services, Inc.)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders of the Secured Obligations Lenders shall have, in addition to the rights and remedies provided herein, in the Loan Credit Documents, in any other documents relating to the Secured ObligationsHedging Agreements between any Obligor and any Lender, or any Affiliate of a Lender, or by law (including, without limitationbut not limited to, levy the rights and remedies set forth in the Uniform Commercial Code of attachment and garnishmentthe jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the GrantorsObligors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors Obligors to assemble and make available to the Administrative Agent at the expense of the Grantors Obligors any Collateral at any place and time designated by the Administrative Agent that which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice 161 143 notice, hearing or hearingprocess of law, all of which each of the Grantors Obligors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations Lenders with respect to the Secured Obligations, the Grantors Obligors shall pay the Administrative Agent and each of the holders of the Secured Obligations Lenders all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured ObligationsLender, including, but not limited to, reasonable attorneys' fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations Lenders or the Grantors Obligors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor Obligor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower and such Obligor (if other than the Borrower) in accordance with the notice provisions of Section 11.02 11.1 of the Credit Agreement at least ten Business Days 10 days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Agent and the holders of the Secured Obligations Lenders shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, any holder of the Secured Obligations Lender may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors Obligors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Agent and the holders of the Secured Obligations Lenders may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations Lenders may further postpone such sale by announcement made at such time and place.

Appears in 1 contract

Samples: Credit Agreement (Vestar Sheridan Inc)

General Remedies. Upon the occurrence of If an Event of Default shall occur and during the continuation thereofbe continuing, the Administrative Agent and the holders Agent, on behalf of the Secured Obligations shall haveParties, may exercise, in addition to the all other rights and remedies provided herein, granted to them in the Loan Documents, this Agreement and in any other documents instrument or agreement securing, evidencing or relating to the Secured Obligations, or by law (including, without limitation, levy of attachment and garnishment), the all rights and remedies of a secured party under the UCC or any other Applicable Law. Without limiting the generality of the jurisdiction applicable to the affected Collateral and, furtherforegoing, the Administrative Agent mayAgent, with without demand of performance or without judicial process other demand, presentment, protest, advertisement or the aid notice of any kind (except any notice required by Applicable Law as referred to below) to or upon any Grantor or any other Person (all and assistance each of others (to the extent permitted under applicable lawwhich demands, defenses, advertisements and notices are hereby waived), may in such circumstances forthwith collect, receive, appropriate and realize upon the Collateral, or any part thereof, and/or may forthwith sell, lease, assign, give option or options to purchase, or otherwise dispose of and deliver the Collateral or any part thereof (i) subject or contract to the rights of tenants in possession, enter on any premises on which do any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Agent that is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice or hearing, all of which each of the Grantors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contractsforegoing), in one or more parcels, for cash, upon credit parcels at public or otherwiseprivate sale or sales, at such prices and upon such terms as the Administrative Agent deems advisableany exchange, in its sole discretion (subject to any and all mandatory legal requirements). Each broker's board or office of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any other Secured Party or elsewhere upon such holder terms and conditions as it may deem advisable and at such prices as it may deem best, for cash or on credit or for future delivery without assumption of any credit risk. The Administrative Agent may disclaim any warranties in connection with any sale or other disposition of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any warranties of title, possession, quiet enjoyment and the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days before the time of sale or other event giving rise to the requirement of such noticelike. The Administrative Agent and or any other Secured Party shall have the holders of the Secured Obligations shall not be obligated to make right upon any such public sale or other disposition sales, and, to the extent permitted by law, upon any such private sale or sales, to purchase the whole or any part of the Collateral regardless so sold, free of notice having been givenany right or equity of redemption in any Grantor, which right or equity is hereby waived and released. Each Grantor further agrees, at the Administrative Agent's request, to assemble the Collateral and make it available to the Administrative Agent at places which the Administrative Agent shall reasonably select, whether at such Grantor's premises or elsewhere. To the extent permitted by applicable law, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable lawApplicable Law, each of the Grantors hereby Grantor waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable lawclaims, damages and demands it may acquire against the Administrative Agent and the holders or any other Secured Party arising out of the Secured Obligations may postpone or cause the postponement exercise by them of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, rights hereunder except to the extent permitted by applicable lawany such claims, be made at the time and place to which the sale was postponeddamages, or demands result solely from the gross negligence or willful misconduct of the Administrative Agent or any other Secured Party, in each case against whom such claim is asserted. If any notice of a proposed sale or other disposition of Collateral shall be required by law, such notice shall be deemed reasonable and the holders of the Secured Obligations may further postpone proper if given at least ten (10) days before such sale by announcement made at such time and placeor other disposition.

Appears in 1 contract

Samples: Credit Agreement (AbitibiBowater Inc.)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereofDefault, the Administrative Agent and the holders of the Secured Obligations shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, Credit Documents or by law (including, without limitationbut not limited to, levy the rights and remedies set forth in the UCC or equivalent legislation of attachment and garnishmentthe jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC to the extent permitted by law (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the GrantorsCredit Parties, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors Credit Parties to assemble and make available to the Administrative Agent at the expense of the Grantors Credit Parties any Collateral at any place and time designated by the Administrative Agent that which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors Credit Parties hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors Credit Parties acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and other terms that which might have been obtained at a public sale and and, notwithstanding the foregoing, agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations Lenders with respect to the Secured Obligations, the Grantors Credit Parties shall pay the Administrative Agent and each of the holders of the Secured Obligations Lenders all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured ObligationsLender, including, but not limited to, reasonable attorneys' fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations Lenders or the Grantors Credit Parties concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case concerning a Credit Party under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor Credit Party agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 11.1 of the Credit Agreement at least ten Business Days 10 days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Agent and the holders of the Secured Obligations Lenders shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, any holder of the Secured Obligations Lender may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors Credit Parties hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Agent and the holders of the Secured Obligations Lenders may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations Lenders may further postpone such sale by announcement made at such time and place.

Appears in 1 contract

Samples: Security Agreement (Integrated Living Communities Inc)

General Remedies. Upon the occurrence of If an Event of Default shall occur and during the continuation thereofbe continuing, the Administrative Agent and the holders Agent, on behalf of the Secured Obligations shall haveParties, may exercise, in addition to the all other rights and remedies provided herein, granted to them in the Loan Documents, this Agreement and in any other documents instrument or agreement securing, evidencing or relating to the Secured Obligations, or by law (including, without limitation, levy of attachment and garnishment), the all rights and remedies of a secured party under the UCC or any other Applicable Law. Without limiting the generality of the jurisdiction applicable to the affected Collateral and, furtherforegoing, the Administrative Agent mayAgent, with without demand of performance or without judicial process other demand, presentment, protest, advertisement or the aid notice of any kind (except any notice required by law referred to below) to or upon any Grantor or any other Person (all and assistance each of others (to the extent permitted under applicable lawwhich demands, defenses, advertisements and notices are hereby waived), may in such circumstances forthwith collect, receive, appropriate and realize upon the Collateral, or any part thereof, and/or may forthwith sell, lease, assign, give option or options to purchase, or otherwise dispose of and deliver the Collateral or any part thereof (i) subject or contract to the rights of tenants in possession, enter on any premises on which do any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Agent that is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice or hearing, all of which each of the Grantors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contractsforegoing), in one or more parcels, for cash, upon credit parcels at public or otherwiseprivate sale or sales, at such prices and upon such terms as the Administrative Agent deems advisableany exchange, in its sole discretion (subject to any and all mandatory legal requirements). Each broker’s board or office of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any Secured Party or elsewhere upon such holder of the Secured Obligationsterms and conditions as it may deem advisable and at such prices as it may deem best, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining for cash or liquidating the Collateral, in enforcing payment of the Secured Obligations, on credit or in the prosecution or defense for future delivery without assumption of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days before the time of sale or other event giving rise to the requirement of such noticecredit risk. The Administrative Agent and the holders of the Secured Obligations shall not be obligated to make may disclaim all warranties in connection with any sale or other disposition of the Collateral, including, without limitation, all warranties of title, possession, quiet enjoyment and the like. The Administrative Agent or any other Secured Party shall have the right upon any such public sale or sales, and, to the extent permitted by law, upon any such private sale or sales, to purchase the whole or any part of the Collateral regardless of notice having been givenso sold. Each Grantor further agrees, at the Administrative Agent’s request, to assemble the Collateral and make it available to the Administrative Agent at places which the Administrative Agent shall reasonably select, whether at such Grantor’s premises or elsewhere. To the extent permitted by applicable law, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable lawApplicable Law, each of the Grantors hereby Grantor waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable lawclaims, damages and demands it may acquire against the Administrative Agent and the holders or any other Secured Party arising out of the Secured Obligations may postpone or cause the postponement exercise by it of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, rights hereunder except to the extent permitted by applicable lawany such claims, be made at the time and place to which the sale was postponeddamages, or demands result solely from the gross negligence or willful misconduct of the Administrative Agent or any other Secured Party, in each case against whom such claim is asserted. If any notice of a proposed sale or other disposition of Collateral shall be required by law, such notice shall be deemed reasonable and the holders of the Secured Obligations may further postpone proper if given at least ten (10) days before such sale by announcement made at such time and placeor other disposition.

Appears in 1 contract

Samples: Collateral Agreement (Blackhawk Network Holdings, Inc)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders of the Secured Obligations Lender shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, or by law (including, without limitationbut not limited to, levy of attachment attachment, garnishment and garnishmentthe rights and remedies set forth in the Uniform Commercial Code of the jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Agent Lender may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the GrantorsGrantor, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors Grantor to assemble and make available to the Administrative Agent Lender at the expense of the Grantors Grantor any Collateral at any place and time designated by the Administrative Agent that Lender which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice or hearing, all of which each of the Grantors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent Lender deems advisable, in its sole discretion (subject to any and all mandatory legal requirements)discretion. Each of the Grantors acknowledges The Grantor agrees that it shall not assert that any private sale referenced above may be at prices and on terms less favorable to action taken by the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made Lender in a commercially reasonable manner. Neither the Administrative Agent’s compliance with any applicable state or federal law in the conduct of such sale, nor its disclaimer of in disclaiming any warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any saleCollateral, made such sale not commercially reasonable. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations Lender with respect to the Secured ObligationsIndebtedness, the Grantors Grantor shall pay the Administrative Agent and each of the holders of the Secured Obligations Lender all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured ObligationsLender, including, but not limited to, reasonable attorneys' fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured ObligationsIndebtedness, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent Lender or the holders of the Secured Obligations or the Grantors Grantor concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured ObligationsIndebtedness, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Codeany bankruptcy, insolvency or similar law. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower Grantor in accordance with the notice provisions of Section 11.02 of the Credit Agreement 17 at least ten Business Days (10) days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Agent and the holders of the Secured Obligations Lender shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, any holder of the Secured Obligations Lender may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors Grantor hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Agent and the holders of the Secured Obligations Lender may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations Lender may further postpone such sale by announcement made at such time and place.

Appears in 1 contract

Samples: Security Agreement (Metretek Technologies Inc)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders of the Secured Obligations Lenders shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, Credit Documents or by law (including, without limitationbut not limited to, levy the rights and remedies set forth in the Uniform Commercial Code of attachment and garnishmentthe jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Agent may, with or without judicial process or the aid and assistance of others (others, to the extent permitted under not prohibited by applicable law), (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the GrantorsObligors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors Obligors to assemble and make available to the Administrative Agent at the expense of the Grantors Obligors any Collateral at any place and time designated by the Administrative Agent that which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors Obligors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it 133 at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations Lenders with respect to the Secured Obligations, the Grantors Obligors shall pay the Administrative Agent and each of the holders of the Secured Obligations Lenders all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured ObligationsLender, including, but not limited to, reasonable attorneys' fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations Lenders or the Grantors Obligors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor Obligor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, delivered to the Borrower in accordance with the notice provisions of Section 11.02 11.1 of the Credit Agreement at least ten Business Days 10 days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Agent and the holders of the Secured Obligations Lenders shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, any holder of the Secured Obligations Lender may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors Obligors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Agent and the holders of the Secured Obligations Lenders may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations Lenders may further postpone such sale by announcement made at such time and place.

Appears in 1 contract

Samples: Credit Agreement (Moll Industries Inc)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent Secured Party and the holders of the Secured Obligations shall have, in addition to the rights and remedies provided herein, in the Loan DocumentsTransaction Agreements, in any other documents relating to the Secured Obligations, or by law (including, without limitation, levy of attachment and garnishment), the rights and remedies of a secured party and second lienholder under the UCC of the jurisdiction applicable to the affected Collateral and, further, the Administrative Agent Secured Party may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent Secured Party at the expense of the Grantors any Collateral at any place and time designated by the Administrative Agent Secured Party that is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent Secured Party deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither To the Administrative Agent’s extent permitted by applicable law, neither the Secured Party's compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent Secured Party and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent Secured Party and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent Secured Party or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees ' fees, the allocated cost of internal counsel and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent Secured Party or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 Article 17 of the Credit Subscription Agreement at least ten Business Days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Agent Secured Party and the holders of the Secured Obligations shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Agent Secured Party and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Agent Secured Party and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place.

Appears in 1 contract

Samples: General Security Agreement (Thomas Equipment, Inc.)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders of the Secured Obligations Parties shall have, in addition to the rights and remedies provided herein, in the Loan Credit Documents, in any other documents relating to the Secured Obligations, Hedging Agreement or by law (including, without limitationbut not limited to, levy of attachment attachment, garnishment and garnishmentthe rights and remedies set forth in the Uniform Commercial Code of the jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Agent may, with or without judicial process or the aid and assistance of others others, (i) to the extent permitted under by applicable law), (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the GrantorsObligors, take possession of the Collateral, (ii) subject to Section 10(c) with respect to leased properties, dispose of any Collateral on any such premises, (iii) require the Grantors Obligors to assemble and make available to the Administrative Agent at the expense of the Grantors Obligors any Collateral at any place and time designated by the Administrative Agent that which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors Obligors hereby waives to the fullest extent permitted by applicable law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Agent and the holders of the Secured Obligations shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place.legal

Appears in 1 contract

Samples: Security Agreement (Pantry Inc)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders on behalf of the Secured Obligations Parties shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, or by law any applicable Law (including, without limitationbut not limited to, levy of attachment attachment, garnishment and garnishmentthe rights and remedies set forth in the UCC of the jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Agent that which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors hereby waives to the fullest extent permitted by lawLaw, at any place and time or times, sell sell, lease, assign, give option or options to purchase, or otherwise dispose of and deliver the Collateral or any part thereof (or contract to do any of the foregoing), in one or more parcels any or all Collateral held by or for it at public or private salesale (which in the case of a private sale of Pledged Equity, shall be to a restricted group of purchasers who will be obligated to agree, among other things, to acquire such securities for their own account, for investment and not with a view to the distribution or resale thereof), at any exchange or broker’s board or elsewhere, by one or more contracts, in one or more parcels, for cashmoney, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements), in each case in connection with the maintenance, preservation, operation, sale or other disposition of the Collateral or for any other purpose permitted under the Loan Documents or by applicable Law. Each of the Grantors Grantor acknowledges that any such private sale referenced above may be at prices and on terms less favorable to the seller than the prices and other terms that which might have been obtained at a public sale and and, notwithstanding the foregoing, agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable mannermanner and, in the case of a sale of Pledged Equity, that the Administrative Agent shall have no obligation to delay sale of any such securities for the period of time necessary to permit the Issuer of such securities to register such securities for public sale under the Securities Act of 1933. The Administrative Agent or any other Secured Party shall have the right upon any such public sale or sales, and, to the extent permitted by applicable Law, upon any such private sale or sales, to purchase the whole or any part of the Collateral so sold. Neither the Administrative Agent’s compliance with applicable law Law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice notice, specifying the place of any public sale or the time after which any private sale is to be made, is personally served on or mailed, postage prepaid, to the Borrower Borrowers in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days 10 days before the time of sale or other event giving rise to the requirement of such notice. Each Grantor further acknowledges and agrees that any offer to sell any Pledged Equity which has been (A) publicly advertised on a bona fide basis in a newspaper or other publication of general circulation in the financial community of New York, New York (to the extent that such offer may be advertised without prior registration under the Securities Act of 1933), or (B) made privately in the manner described above shall be deemed to involve a “public sale” under the UCC, notwithstanding that such sale may not constitute a “public offering” under the Securities Act of 1933, and the Administrative Agent may, in such event, bid for the purchase of such securities. The Administrative Agent and the holders of the Secured Obligations shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable lawLaw, any holder of the Secured Obligations Party may be a purchaser at any such sale. To the extent permitted by applicable lawLaw, each of the Grantors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable lawLaw, the Administrative Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable lawLaw, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place.. To the extent permitted by applicable Law, each Grantor waives all claims, damages and demands it may acquire against the Administrative Agent or any Secured Party arising out of the exercise by them of any rights hereunder except to the extent any such claims, damages or demands result from the gross negligence or willful misconduct of the Administrative Agent or any other Secured Party as determined by a final non-appealable judgment of a court of competent jurisdiction, in each case against whom such claim is

Appears in 1 contract

Samples: Security and Pledge Agreement (Movado Group Inc)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders of the Secured Obligations shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, or by law (including, without limitation, including levy of attachment attachment, garnishment and garnishmentthe rights and remedies set forth in the UCC of the jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral Collateral) and, further, the Administrative Agent may, with or without judicial process or the aid and assistance of others (others, in each case to the extent permitted under by applicable law), (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Agent that is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting the sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and and, notwithstanding the foregoing, agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations Parties with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations Parties all reasonable documented out-of-pocket costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured ObligationsParty, in enforcing its remedies hereunder including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations Parties or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, including any of the foregoing arising in, arising under or related to a case under the Bankruptcy CodeDebtor Relief Laws. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice notice, specifying the place of any public sale or the time after which any private sale is to be made, is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten (10) Business Days before the time of sale or other event giving rise to the requirement of such notice. The Administrative 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 holders of the Secured Obligations time and place to which it was so adjourned. The Administrative Agent shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, any holder of the Secured Obligations Party may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place.

Appears in 1 contract

Samples: Security Agreement (Recro Pharma, Inc.)

General Remedies. Upon the occurrence of an Event of Default and during the continuation continuance thereof, the Administrative Agent and the holders of the Secured Obligations Holders shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, Note Documents or by law (including, without limitationbut not limited to, levy the rights and remedies set forth in the Uniform Commercial Code of attachment and garnishmentthe jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Collateral Agent may, with or without judicial process or the aid and assistance of others (others, to the fullest extent permitted under applicable by law), (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the GrantorsObligors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors Obligors to assemble and make available to the Administrative Collateral Agent at the expense of the Grantors Obligors any Collateral at any place and time designated by the Administrative Collateral Agent that which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors Obligors hereby waives to the fullest extent permitted by lawlaw (including Article 9 of the UCC), at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Collateral Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Collateral Agent and the holders of the Secured Obligations Holders with respect to the Secured Obligations, the Grantors Obligors shall pay the Administrative Collateral Agent and each of the holders of the Secured Obligations Holders all reasonable documented costs and expenses actually incurred by the Administrative Collateral Agent or any such holder of the Secured ObligationsHolder, including, but not limited to, reasonable attorneys' fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Collateral Agent or the holders of the Secured Obligations Holders or the Grantors Obligors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor Obligor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, mailed postage prepaid, prepaid to the Borrower Company in accordance with the notice provisions of Section 11.02 12.02 of the Credit Agreement Indenture at least ten Business Days 10 days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Collateral Agent and the holders of the Secured Obligations Holders shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, any holder of the Secured Obligations Holder may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors Obligors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Collateral Agent and the holders of the Secured Obligations Holders may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Collateral Agent and the holders of the Secured Obligations Holders may further postpone such sale by announcement made at such time and place.

Appears in 1 contract

Samples: Security Agreement (Usc May Verpackungen Holding Inc)

General Remedies. Upon the occurrence of If an Event of Default shall occur and during the continuation thereofbe continuing, the Administrative Agent and Collateral Agent, subject to the holders approval of the Secured Obligations shall haveRequired Lenders, may exercise, in addition to the all other rights and remedies provided herein, granted to them in the Loan Documents, this Agreement and in any other documents instrument or agreement securing, evidencing or relating to the Secured Obligations, or by law (including, without limitation, levy of attachment and garnishment), the all rights and remedies of a secured party under the UCC or any other applicable law. Without limiting the generality of the jurisdiction applicable to the affected Collateral and, furtherforegoing, the Administrative Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law), (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located andAgent, without resistance demand of performance or interference by the Grantorsother demand, take possession of the Collateralpresentment, (ii) dispose protest, advertisement or notice of any Collateral on kind (except any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Agent that is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand law referred to below) to or upon any Grantor or any other Person (all and without advertisement, notice or hearing, all each of which each of the Grantors demands, defenses, advertisements and notices are hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (waived to the extent permitted by applicable law) that ), may in such circumstances, subject to the approval of the Required Lenders and in accordance with any applicable Laws, forthwith collect, receive, appropriate and realize upon the Collateral, or any part thereof, and/or may, subject to the approval of the Required Lenders, forthwith sell, lease, assign, give option or options to purchase, or otherwise dispose of and deliver the Collateral or any part thereof (or contract to do any of the foregoing), in one or more parcels at public or private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agentor sales, at any exchange, broker’s compliance with applicable law nor its disclaimer board or office of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any Lender or elsewhere upon such holder terms and conditions as it may deem advisable and at such prices as it may deem best, for cash or on credit or for future delivery without assumption of any credit risk. The Collateral Agent may disclaim any warranties in connection with any sale or other disposition of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any warranties of title, possession, quiet enjoyment and the foregoing arising inlike. The Collateral Agent shall have the right upon any such public sale or sales, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaidand, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Agent and the holders of the Secured Obligations shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, upon any holder such private sale or sales, to purchase the whole or any part of the Secured Obligations may be a purchaser Collateral so sold, free of any right or equity of redemption in any Grantor, which right or equity is hereby waived and released. Each Grantor further agrees, at any the Collateral Agent’s request during the existence of an Event of Default, to assemble the Collateral and make it available to the Collateral Agent at places which the Collateral Agent shall reasonably select, whether at such saleGrantor’s premises or elsewhere. To the extent permitted by applicable law, each Grantor waives all claims, damages and demands it may acquire against the Collateral Agent or any Lender arising out of the Grantors hereby waives all exercise by it of its any rights of redemption with respect hereunder except to the extent any such sale. Subject to claims, damages, or demands result solely from the provisions of applicable law, the Administrative Agent and the holders of the Secured Obligations may postpone gross negligence or cause the postponement of the sale of all or any portion willful misconduct of the Collateral Agent. If any notice of a proposed sale or other disposition of Collateral shall be required by announcement law, such notice shall be deemed reasonable and proper if given at least ten (10) days before such sale or other disposition, except for the time sale or disposition of the Equity Interests of OpCo for which at least thirty (30) days’ prior notice shall be given. Effective upon the occurrence and place during the continuance of such salean Event of Default, the Collateral Agent is hereby granted a non-exclusive license or other right to use, without charge, each Grantor’s labels, Patents, Copyrights, rights of use of any name, trade secrets, tradenames, Trademarks and advertising matter, or any property of a similar nature, as it pertains to the Collateral, in advertising for sale and selling any Collateral, and such sale may, without further notice, each Grantor’s rights under all licenses and all franchise agreements shall inure to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and placeCollateral Agent’s benefit.

Appears in 1 contract

Samples: Security Agreement (Guerrilla RF, Inc.)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders of the Secured Obligations Lenders shall have, in addition to the rights and remedies provided herein, in the Loan Credit Documents, in any other documents relating to the Secured Obligations, Working Capital Credit Documents or by law (including, without limitationbut not limited to, levy the rights and remedies set forth in the UCC or equivalent legislation of attachment and garnishmentthe jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC to the extent permitted by law (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the GrantorsCredit Parties, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors Credit Parties to assemble and make available to the Administrative Agent at the expense of the Grantors Credit Parties any Collateral at any place and time designated by the Administrative Agent that which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors Credit Parties hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors Credit Parties acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and other terms that which might have been obtained at a public sale and and, notwithstanding the foregoing, agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations Lenders with respect to the Secured Obligations, the Grantors Credit Parties shall pay the Administrative Agent and each of the holders of the Secured Obligations Lenders all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured ObligationsLender, including, but not limited to, reasonable attorneys' fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations Lenders or the Grantors Credit Parties concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case concerning a Credit Party under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor Credit Party agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 SECTION 11.1 of the New Credit Agreement at least ten Business Days 10 days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Agent and the holders of the Secured Obligations Lenders shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, any holder of the Secured Obligations Lender may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors Credit Parties hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Agent and the holders of the Secured Obligations Lenders may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations Lenders may further postpone such sale by announcement made at such time and place.

Appears in 1 contract

Samples: Credit Agreement (Chattem Inc)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders of the Secured Obligations Lender shall have, in addition to the rights and remedies provided herein, in the other Loan Documents, in any other documents relating to the Secured Obligations, or by law Law (including, without limitationbut not limited to, levy of attachment attachment, garnishment and garnishmentthe rights and remedies set forth in the UCC of the jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Agent Lender may, with or without judicial process or the aid and assistance of others others, (i) upon notice to the Obligors (to the extent permitted under applicable lawrequired by Law), (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the GrantorsObligors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors Obligors to assemble and make available to the Administrative Agent Lender at the expense of the Grantors Obligors any Collateral at any place and time designated by the Administrative Agent that Lender which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors Obligors hereby waives to the fullest extent permitted by lawLaw, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private salesale (which in the case of a private sale of Pledged Equity, shall be to a restricted group of purchasers who will be obligated to agree, among other things, to acquire such securities for their own account, for investment and not with a view to the distribution or resale thereof), at any exchange or broker’s board or elsewhere, by one or more contracts, in one or more parcels, for cashMoney, upon credit or 30 otherwise, at such prices and upon such terms as the Administrative Agent Lender deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors Obligor acknowledges that any such private sale referenced above may be at prices and on terms less favorable to the seller than the prices and other terms that which might have been obtained at a public sale and and, notwithstanding the foregoing, agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable mannermanner and, in the case of a sale of Pledged Equity, that Lender shall have no obligation to delay sale of any such securities for the period of time necessary to permit the issuer of such securities to register such securities for public sale under the Securities Act of 1933. Neither the Administrative AgentLender’s compliance with applicable law Law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor Obligor agrees that any requirement of reasonable notice shall be met if such notice notice, specifying the place of any public sale or the time after which any private sale is to be made, is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 9.1 of the Credit Agreement Note at least ten Business Days (10) days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Agent Lender 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 holders time and place to which it was so adjourned. Each Obligor further acknowledges and agrees that any offer to sell any Pledged Equity which has been (i) publicly advertised on a bona fide basis in a newspaper or other publication of general circulation in the Secured Obligations financial communities of Las Vegas, Nevada (to the extent that such offer may be advertised without prior registration under the Securities Act of 1933), or (ii) made privately in the manner described above shall be deemed to involve a “public sale” under the UCC, notwithstanding that such sale may not constitute a “public offering” under the Securities Act of 1933, and Lender may, in such event, bid for the purchase of such securities. Lender shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable lawLaw, any holder of the Secured Obligations Lender may be a purchaser at any such sale. Further, in the event of a foreclosure by Lender on any of the Collateral pursuant to a public or private sale or a sale under §363 of the Bankruptcy Code of the United States, Lender may be the purchaser of any or all of such Collateral at any such sale and Lender shall be entitled, for the purpose of bidding and making settlement or payment of the purchase price for all or any portion of the Collateral sold at any such public sale, to use and apply any of the Secured Obligations as a credit on account of the purchase price for any Collateral payable by Lender at such sale. To the extent permitted by applicable lawLaw, each of the Grantors Obligors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable lawLaw, the Administrative Agent and the holders of the Secured Obligations Lender may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable lawLaw, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations Lender may further postpone such sale by announcement made at such time and place.

Appears in 1 contract

Samples: Loan, Security and Pledge Agreement (Greenlane Holdings, Inc.)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Collateral Agent and the holders of the Secured Obligations shall have, in addition to the rights and remedies provided herein, in the Loan Transaction Documents, in any other documents relating to the Secured Obligations, or by applicable law (including, without limitationbut not limited to, levy of attachment attachment, garnishment and garnishmentthe rights and remedies set forth in the UCC of the jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Collateral Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the GrantorsCompany, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors Company to assemble and make available to the Administrative Collateral Agent at the expense of the Grantors Company any Collateral at any place and time designated by the Administrative Agent that is reasonably convenient to both partiesone or more locations where Company regularly maintains inventory, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) without notice, except as provided below in the case of notice required by lawbelow, without demand and without advertisement, notice or hearing, all of which each of the Grantors Company hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, at any exchange or broker’s board or elsewhere, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Collateral Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors Company acknowledges that any such private sale referenced above may be at prices and on terms less favorable to the seller than the prices and other terms that which might have been obtained at a public sale and and, notwithstanding the foregoing, agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Collateral Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect Company agrees that to the Secured Obligationsextent notice of sale shall be required by law, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice notice, specifying the place of any public sale or the time after which any private sale is to be made, is personally served on or mailed, postage prepaid, to the Borrower Company in accordance with the notice provisions of Section 11.02 of the Credit this Security Agreement at least ten Business Days 10 days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Collateral Agent and the holders of the Secured Obligations shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, Collateral Agent or any holder of the Secured Obligations Investor may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors Company hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Collateral Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Collateral Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place.

Appears in 1 contract

Samples: Security Agreement (Smart Online Inc)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders of the Secured Obligations shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, or by law Law (including, without limitationbut not limited to, levy of attachment attachment, garnishment and garnishmentthe rights and remedies set forth in the UCC of the jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on onto any premises on which any of the Collateral may be located and, without resistance or interference by the GrantorsObligors, take possession of the CollateralCollateral (subject to the rights of landlords under applicable Laws, lease agreements and landlord consents), (ii) dispose of any Collateral on any such premisespremises (subject to the rights of landlords under applicable Laws, lease agreements and landlord consents), (iii) require the Grantors Obligors to assemble and make available to the Administrative Agent at the expense of the Grantors Obligors any Collateral at any place and time designated by the Administrative Agent that which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors Obligors hereby waives to the fullest extent permitted by lawLaw, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private salesale (which in the case of a private sale of Pledged Equity, shall be to a restricted group of purchasers who will be obligated to agree, among other things, to acquire such securities for their own account, for investment and not with a view to the distribution or resale thereof), at any exchange or broker’s board or elsewhere, by one or more contracts, in one or more parcels, for cashMoney, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors Obligor acknowledges that any such private sale referenced above may be at prices and on terms less favorable to the seller than the prices and other terms that which might have been obtained at a public sale and and, notwithstanding the foregoing, agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable mannermanner and, in the case of a sale of Pledged Equity, that the Administrative Agent shall have no obligation to delay sale of any such securities for the period of time necessary to permit the issuer of such securities to register such securities for public sale under the Securities Act of 1933. Neither the Administrative Agent’s compliance with applicable law Law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor Obligor agrees that any requirement of reasonable notice shall be met if such notice notice, specifying the place of any public sale or the time after which any private sale is to be made, is personally served on or mailed, postage prepaid, to the Borrower PRGX in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days (10) days before the time of sale or other event giving rise to the requirement of such notice. The Administrative 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. Each Obligor further acknowledges and agrees that any offer to sell any Pledged Equity which has been (i) publicly advertised on a bona fide basis in a newspaper or other publication of general circulation in the financial community of New York, New York (to the extent that such offer may be advertised without prior registration under the Securities Act of 1933), or (ii) made privately in the manner described above shall be deemed to involve a “public sale” under the UCC, notwithstanding that such sale may not constitute a “public offering” under the Securities Act of 1933, and the holders Administrative Agent may, in such event, bid for the purchase of the Secured Obligations such securities. The Administrative Agent shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable lawLaw, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable lawLaw, each of the Grantors Obligors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable lawLaw, the Administrative Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable lawLaw, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place.

Appears in 1 contract

Samples: Security and Pledge Agreement (PRGX Global, Inc.)

General Remedies. Upon the occurrence of If an Event of Default shall occur and during the continuation thereofbe continuing, the Administrative Agent and the holders Agent, on behalf of the Secured Obligations shall haveParties, may exercise, in addition to the all other rights and remedies provided herein, granted to them in the Loan Documents, this Agreement and in any other documents instrument or agreement securing, evidencing or relating to the Secured Obligations, or by law (including, without limitation, levy of attachment and garnishment), the all rights and remedies of a secured party under the UCC or any other Applicable Law. Without limiting the generality of the jurisdiction applicable to the affected Collateral and, furtherforegoing, the Administrative Agent mayAgent, with without demand of performance or without judicial process other demand, presentment, protest, advertisement or the aid notice of any kind (except any notice required by Applicable Law referred to below) to or upon any Grantor or any other Person (all and assistance each of others (which demands, defenses, advertisements and notices are hereby waived to the extent permitted under applicable lawby Applicable Law), may in such circumstances forthwith collect, receive, appropriate and realize upon the Collateral, or any part thereof, and/or may forthwith sell, lease, assign, give option or options to purchase, or otherwise dispose of and deliver the Collateral or any part thereof (i) subject or contract to the rights of tenants in possession, enter on any premises on which do any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Agent that is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice or hearing, all of which each of the Grantors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contractsforegoing), in one or more parcels, for cash, upon credit parcels at public or otherwiseprivate sale or sales, at such prices and upon such terms as the Administrative Agent deems advisableany exchange, in its sole discretion (subject to any and all mandatory legal requirements). Each broker’s board or office of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any other Secured Party or elsewhere upon such holder of the Secured Obligationsterms and conditions as it may deem advisable and at such prices as it may deem best, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining for cash or liquidating the Collateral, in enforcing payment of the Secured Obligations, on credit or in the prosecution or defense for future delivery without assumption of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days before the time of sale or other event giving rise to the requirement of such noticecredit risk. The Administrative Agent and the holders of the Secured Obligations shall not be obligated to make may disclaim all warranties in connection with any sale or other disposition of the Collateral, including, without limitation, all warranties of title, possession, quiet enjoyment and the like. The Administrative Agent or any other Secured Party shall have the right upon any such public sale or sales, and, to the extent permitted by Applicable Law, upon any such private sale or sales, to purchase the whole or any part of the Collateral regardless so sold, free of notice having been givenany right or equity of redemption in any Grantor, 18 60010211_5 which right or equity is hereby waived and released. Each Grantor further agrees, at the Administrative Agent’s request, to assemble the Collateral and make it available to the Administrative Agent at places which the Administrative Agent shall reasonably select, whether at such Grantor’s premises or elsewhere. To the extent permitted by applicable law, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable lawApplicable Law, each of the Grantors hereby Grantor waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable lawclaims, damages and demands it may acquire against the Administrative Agent and the holders or any other Secured Party arising out of the Secured Obligations may postpone or cause the postponement exercise by them of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, rights hereunder except to the extent permitted by applicable lawany such claims, be made at the time and place to which the sale was postponeddamages, or demands result solely from the gross negligence or willful misconduct of the Administrative Agent or any other Secured Party, in each case against whom such claim is asserted. If any notice of a proposed sale or other disposition of Collateral shall be required by law, such notice shall be deemed reasonable and the holders of the Secured Obligations may further postpone proper if given at least ten (10) days before such sale by announcement made at such time and place.or other disposition. SECTION 5.2

Appears in 1 contract

Samples: Version Collateral Agreement

General Remedies. Upon the occurrence of an Event of Default and during at any time thereafter unless and until such Event of Default has been waived or cured in accordance with the continuation thereofterms of the Credit Agreement, the Administrative Collateral Agent and the holders of the Secured Obligations shall have, have in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, Credit Documents or by law (including, without limitation, levy of attachment and garnishment)law, the rights and remedies of a secured party under the UCC Code (regardless of whether the Code is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the Code applies to the affected Collateral), and further the Collateral and, further, the Administrative Agent may, may with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law), (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the Grantorsany such Credit Party, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors any such Credit Party to assemble and make available to the Administrative Collateral Agent at the its own expense of the Grantors any Collateral at any place and time designated by the Administrative Collateral Agent that which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors such Credit Party hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Collateral Agent deems advisable, in its sole discretion (subject to discretion, provided that said disposition complies with any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Collateral Agent and the holders of the Secured Obligations with respect to the Secured Obligationsor any Lender hereunder, the Grantors Credit Parties shall pay the Administrative Collateral Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured ObligationsCollateral Agent, including, but not limited to, including reasonable attorneys' fees (including the allocated costs of in-house counsel) and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Collateral Agent or the holders of the Secured Obligations or the Grantors any Lender concerning any matter arising out of or connected with this Security Agreement, any Agreement or the Collateral or the Secured Obligations, including, including without limitation, limitation any of the foregoing arising in, arising under or related to a case under the United States Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor such Credit Party agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, otherwise sent to the Borrower such Credit Party in accordance with the notice provisions of Section 11.02 of the Credit Agreement 11 hereof at least ten Business Days 10 days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Collateral Agent and the holders of the Secured Obligations shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, the Collateral Agent or any holder of the Secured Obligations Lender may be a the purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors such Credit Party hereby waives all of its rights of redemption with respect to from any such sale. Subject to the provisions of applicable law, the Administrative Collateral Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, postponed or the Administrative Collateral Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place.

Appears in 1 contract

Samples: Security and Pledge Agreement (Manitowoc Co Inc)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders of the Secured Obligations shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, or by law (including, without limitation, including levy of attachment attachment, garnishment and garnishmentthe rights and remedies set forth in the UCC of the jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral Collateral) and, further, the Administrative Agent may, with or without judicial process or the aid and assistance of others (others, in each case, to the extent permitted under by applicable law), (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Agent that is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting the sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and and, notwithstanding the foregoing, agrees (to the extent permitted by applicable law) that such private sale shall not be deemed to have been made in a commercially reasonable mannerunreasonable manner for such reason. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations Parties with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations Parties all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured ObligationsParty, in enforcing its remedies hereunder including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations Parties or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, including any of the foregoing arising in, arising under or related to a case under the Bankruptcy CodeDebtor Relief Laws. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice notice, specifying the place of any public sale or the time after which any private sale is to be made, is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten (10) Business Days before the time of sale or other event giving rise to the requirement of such notice. The Administrative 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 holders of the Secured Obligations time and place to which it was so adjourned. The Administrative Agent shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, any holder of the Secured Obligations Party may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Agent and the holders of the Secured Obligations Parties may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place.

Appears in 1 contract

Samples: Security Agreement (Kala Pharmaceuticals, Inc.)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders of the Secured Obligations shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, or by law (including, without limitation, levy of attachment and garnishment), the rights and remedies of a secured party under the UCC Uniform Commercial Code of the jurisdiction applicable to the affected Collateral and, further, the Administrative Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under by applicable law), (i) law and subject to the rights of tenants in possessionany lessor of a Grantor, if applicable (i) enter on any premises on which any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Agent that is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the The Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall not be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations Parties with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations Parties all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured ObligationsParty, in enforcing its remedies hereunder including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations Parties or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy CodeDebtor Relief Laws. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Agent and the holders of the Secured Obligations shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, any holder of the Secured Obligations Party may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Agent and the holders of the Secured Obligations Parties may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place.

Appears in 1 contract

Samples: Credit Agreement (Wageworks, Inc.)

General Remedies. Upon the occurrence of If an Event of Default shall occur and during the continuation thereofbe continuing, the Administrative Agent and the holders Agent, on behalf of the Secured Obligations shall haveLenders, may exercise, in addition to the all other rights and remedies provided herein, granted to them in the Loan Documents, this Agreement arid in any other documents instrument or agreement securing, evidencing or relating to the Secured Obligations, or by law (including, without limitation, levy of attachment and garnishment), the ; all rights and remedies of a secured party under the UCC or any other Applicable Law. Without limiting the generality of the jurisdiction applicable to the affected Collateral and, furtherforegoing, the Administrative Agent mayAgent, with without demand of performance or without judicial process other demand, presentment, protest, advertisement or the aid notice of any kind (except any notice required by law referred to below) to or upon any Grantor or any other Person (all and assistance each of others (to the extent permitted under applicable lawwhich demands, defenses, advertisements and notices are hereby waived), may in such circumstances forthwith collect, receive, appropriate and realize upon the Collateral, or any part thereof, and/or may forthwith sell, lease, assign; give option or options to purchase, or otherwise dispose of and deliver the Collateral or any part thereof (i) subject or contract to the rights of tenants in possession, enter on any premises on which do any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Agent that is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice or hearing, all of which each of the Grantors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contractsforegoing), in one or more parcels, for cash, upon credit parcels at public or otherwiseprivate sale or sales, at such prices and upon such terms as the Administrative Agent deems advisableany exchange, in its sole discretion (subject to any and all mandatory legal requirements). Each broker’s board or office of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any Lender or elsewhere upon such holder of the Secured Obligationsterms and conditions as it may deem advisable and at such prices as it may deem best, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining for cash or liquidating the Collateral, in enforcing payment of the Secured Obligations, on credit or in the prosecution or defense for future delivery without assumption of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days before the time of sale or other event giving rise to the requirement of such noticecredit risk. The Administrative Agent and the holders of the Secured Obligations shall not be obligated to make may disclaim any warranties in connection with any sale or other disposition of the Collateral regardless including, without limitation; any warranties of notice having been giventitle, possession, quiet enjoyment and the like. The Administrative Agent or any Lender shall have the right upon any such public sale or sales, and, to the extent permitted by law, upon any such private sale or sales, to purchase the whole or any part of the Collateral so sold, free of any right or equity of redemption in any Grantor, which right or equity is hereby waived and released. Each Grantor further agrees, at the Administrative Agent’s request, to assemble the Collateral and make it available to the Administrative Agent at places which the Administrative Agent shall reasonably select, whether at such Grantor’s premises or elsewhere. To the extent permitted by applicable law, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable lawApplicable Law, each of the Grantors hereby Grantor waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable lawclaims, damages and demands it may acquire against the Administrative Agent and the holders or any Lender arising out of the Secured Obligations may postpone or cause the postponement exercise by them of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, rights hereunder except to the extent permitted by applicable lawany such claims, be made at the time and place to which the sale was postponeddamages, or demands result solely from the gross negligence or willful misconduct of the Administrative Agent or any Lender, in each case against whom such claim is asserted. If any notice of a proposed sale or other disposition of Collateral shall be required by law, such notice shall be deemed reasonable and the holders of the Secured Obligations may further postpone proper if given at least ten (10) days before such sale by announcement made at such time and placeor other disposition.

Appears in 1 contract

Samples: Credit Agreement (Hhgregg, Inc.)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders on behalf of the Secured Obligations Parties shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, or by law any applicable Law (including, without limitationbut not limited to, levy of attachment attachment, garnishment and garnishmentthe rights and remedies set forth in the UCC of the jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andCollateral), and further, the Administrative Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the GrantorsGrantor, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors Grantor to assemble and make available to the Administrative Agent at the expense of the Grantors Grantor any Collateral at any place and time designated by the Administrative Agent that which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors Grantor hereby waives to the fullest extent permitted by lawLaw, at any place and time or times, sell sell, lease, assign, give option or options to purchase, or otherwise dispose of and deliver the Collateral or any part thereof (or contract to do any of the foregoing), in one or more parcels any or all Collateral held by or for it at public or private salesale (which in the case of a private sale of Pledged Equity, shall be to a restricted group of purchasers who will be obligated to agree, among other things, to acquire such securities for their own account, for investment and not with a view to the distribution or resale thereof and shall be made in compliance with applicable securities Laws), at any exchange or broker’s board or elsewhere, by one or more contracts, in one or more parcels, for cashmoney, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors The Grantor acknowledges that any such private sale referenced above may be at prices and on terms less favorable to the seller than the prices and other terms that which might have been obtained at a public sale and and, notwithstanding the foregoing, agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable mannermanner and, in the case of a sale of Pledged Equity, that the Administrative Agent shall have no obligation to delay sale of any such securities for the period of time necessary to permit the Issuer of such securities to register such securities for public sale under the Securities Act. The Administrative Agent or any other Secured Party shall have the right upon any such public sale or sales, and, to the extent permitted by applicable Law, upon any such private sale or sales, to purchase the whole or any part of the Collateral so sold. Neither the Administrative Agent’s compliance with applicable law Law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each the Grantor agrees that any requirement of reasonable notice shall be met if such notice notice, specifying the place of any public sale or the time after which any private sale is to be made, is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days (10) days before the time of sale or other event giving rise to the requirement of such notice. The Grantor further acknowledges and agrees that any offer to sell any Pledged Equity which has been (A) publicly advertised on a bona fide basis in a newspaper or other publication of general circulation in the financial community of New York, New York (to the extent that such offer may be advertised without prior registration under the Securities Act), or (B) made privately in the manner described above shall be deemed to involve a “public sale” under the UCC, notwithstanding that such sale may not constitute a “public offering” under the Securities Act, and the Administrative Agent and may, in such event, bid for the holders purchase of the Secured Obligations such securities. The Administrative Agent shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable lawLaw, any holder of the Secured Obligations Party may be a purchaser at any such sale. To the extent permitted by applicable lawLaw, each of the Grantors Grantor hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable lawLaw, the Administrative Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable lawLaw, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place. To the extent permitted by applicable Law, the Grantor waives all claims, damages and demands it may acquire against the Administrative Agent or any Secured Party arising out of the exercise by them of any rights hereunder except to the extent any such claims, damages or demands result solely from the gross negligence or willful misconduct of the Administrative Agent or any other Secured Party as determined by a final non-appealable judgment of a court of competent jurisdiction, in each case against whom such claim is asserted. The Grantor agrees that the internet shall constitute a “place” for purposes of Section 9-610(b) of the UCC and that any sale of Collateral to a licensor pursuant to the terms of a license agreement between such licensor and the Grantor is sufficient to constitute a commercially reasonable sale (including as to method, terms, manner, and time) within the meaning of Section 9-610 of the UCC.

Appears in 1 contract

Samples: Security and Pledge Agreement (Fabrinet)

General Remedies. Upon the occurrence of If an Event of Default shall occur and during the continuation thereofbe continuing, the Administrative Agent and the holders Agent, on behalf of the Secured Obligations shall haveLenders, may exercise, in addition to the all other rights and remedies provided herein, granted to them in the Loan Documents, this Agreement and in any other documents instrument or agreement securing, evidencing or relating to the Secured Obligations, or by law (including, without limitation, levy of attachment and garnishment), the all rights and remedies of a secured party under the UCC or any other Applicable Law. Without limiting the generality of the jurisdiction applicable to the affected Collateral and, furtherforegoing, the Administrative Agent mayAgent, with without demand of performance or without judicial process other demand, presentment, protest, advertisement or the aid notice of any kind (except any notice required by law referred to below) to or upon any Grantor or any other Person (all and assistance each of others (to the extent permitted under applicable lawwhich demands, defenses, advertisements and notices are hereby waived), may in such circumstances forthwith collect, receive, appropriate and realize upon the Collateral, or any part thereof, and/or may forthwith sell, lease, assign, give option or options to purchase, or otherwise dispose of and deliver the Collateral or any part thereof (i) subject or contract to the rights of tenants in possession, enter on any premises on which do any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Agent that is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice or hearing, all of which each of the Grantors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contractsforegoing), in one or more parcels, for cash, upon credit parcels at public or otherwiseprivate sale or sales, at such prices and upon such terms as the Administrative Agent deems advisableany exchange, in its sole discretion (subject to any and all mandatory legal requirements). Each broker's board or office of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any Lender or elsewhere upon such holder of the Secured Obligationsterms and conditions as it may deem advisable and at such prices as it may deem best, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining for cash or liquidating the Collateral, in enforcing payment of the Secured Obligations, on credit or in the prosecution or defense for future delivery without assumption of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days before the time of sale or other event giving rise to the requirement of such noticecredit risk. The Administrative Agent and the holders of the Secured Obligations shall not be obligated to make may disclaim all warranties in connection with any sale or other disposition of the Collateral, including, without limitation, all warranties of title, possession, quiet enjoyment and the like. The Administrative Agent or any Lender shall have the right upon any such public sale or sales, and, to the extent permitted by law, upon any such private sale or sales, to purchase the whole or any part of the Collateral regardless so sold, free of notice having been givenany right or equity of redemption in any Grantor, which right or equity is hereby waived and released. Each Grantor further agrees, at the Administrative Agent's request and if applicable, to assemble the Collateral and make it available to the Administrative Agent at places which the Administrative Agent shall reasonably select, whether at such Grantor's premises or elsewhere. To the extent permitted by applicable law, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable lawApplicable Law, each of the Grantors hereby Grantor waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable lawclaims, damages and demands it may acquire against the Administrative Agent and the holders or any Lender arising out of the Secured Obligations may postpone or cause the postponement exercise by them of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, rights hereunder except to the extent permitted by applicable lawany such claims, be made at the time and place to which the sale was postponeddamages, or demands result solely from the gross negligence or willful misconduct of the Administrative Agent or any Lender, in each case against whom such claim is asserted. If any notice of a proposed sale or other disposition of Collateral shall be required by law, such notice shall be deemed reasonable and the holders of the Secured Obligations may further postpone proper if given at least ten (10) days before such sale by announcement made at such time and placeor other disposition.

Appears in 1 contract

Samples: Credit Agreement (Corrections Corp of America)

General Remedies. Upon the occurrence of If an Event of Default shall occur and during the continuation thereofbe continuing, the Administrative Agent and the holders of the Secured Obligations shall haveParty may exercise, in addition to the all other rights and remedies provided herein, granted to it in the Loan Documents, this Amended Collateral Agreement and in any other documents instrument or agreement securing, evidencing or relating to the Secured Obligations, or by law (including, without limitation, levy of attachment and garnishment), the all rights and remedies of a secured party under the UCC or any other Applicable Law. Without limiting the generality of the jurisdiction applicable to the affected Collateral and, furtherforegoing, the Administrative Agent maySecured Party, with without demand of performance or without judicial process other demand, presentment, protest, advertisement or the aid notice of any kind (except any notice required hereunder or by law referred to below) to or upon any Grantor or any other Person (all and assistance each of others (to the extent permitted under applicable lawwhich demands, presentments, protests, advertisements and notices are hereby waived), may in such circumstances forthwith collect, receive, appropriate and realize upon the Collateral, or any part thereof, and/or may forthwith sell, lease, assign, give option or options to purchase, or otherwise dispose of and deliver the Collateral or any part thereof (i) subject or contract to the rights of tenants in possession, enter on any premises on which do any of the Collateral foregoing), in one or more parcels at public or private sale or sales, at any exchange, broker’s board or office of the Secured Party or elsewhere upon such terms and conditions as it may be located deem advisable and at such prices as it may deem best, for cash or on credit or for future delivery without assumption of any credit risk. The Secured Party may disclaim any warranties of title, possession and quiet enjoyment. The Secured Party shall have the right upon any such public sale or sales, and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Agent that is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice or hearing, all of which each of the Grantors hereby waives to the fullest extent permitted by law, at upon any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed or sales, to have been made in a commercially reasonable manner. Neither purchase the Administrative Agent’s compliance with applicable law nor its disclaimer whole or any part of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness so sold, free of any saleright or equity of redemption in any Grantor, which right or equity is hereby waived and released. In addition to all other sums due the Administrative Agent and the holders of Each Grantor further agrees, at the Secured Obligations with respect Party’s request, to assemble the Collateral and make it available to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of Party at places which the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent Party shall reasonably select, whether at such Grantor’s premises or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Agent and the holders of the Secured Obligations shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been givenelsewhere. To the extent permitted by applicable lawApplicable Law, each Grantor waives all claims, damages and demands it may acquire against the Secured Party arising out of the exercise by it of any holder rights hereunder except to the extent any such claims, damages, or demands result solely from the gross negligence or willful misconduct of the Secured Obligations may Party. If any notice of a proposed sale or other disposition of Collateral shall be a purchaser at any such sale. To the extent permitted required by applicable law, such notice shall be deemed reasonable and proper if given at least ten (10) days before such sale or other disposition. Except as required by Applicable Law, each of the Grantors Grantor hereby waives all of its rights of redemption with respect any right to any such sale. Subject to the provisions of applicable law, the Administrative Agent and the holders of the Secured Obligations may postpone notice or cause the postponement of the sale of all cure period herein provided or otherwise provided under any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and placeother Loan Document.

Appears in 1 contract

Samples: Collateral Agreement (XZERES Corp.)

General Remedies. Upon the occurrence of If an Event of Default shall occur and during the continuation thereofis continuing, the Administrative Agent and the holders of the Secured Obligations shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in any other documents relating to the Secured Obligations, or by law Law (including, without limitationbut not limited to, levy of attachment attachment, garnishment and garnishmentthe rights and remedies set forth in the UCC of the jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC (regardless of whether the UCC is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the UCC applies to the affected Collateral andPledged Equity), and further, the Administrative Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable others, with only such demand and advertisement, notice, hearing or process of law), (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral as may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Agent that is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice or hearing, all of which each of the Grantors hereby waives to the fullest extent permitted by applicable law, at any place and time or times, sell and deliver any or all Collateral Pledged Equity held by or for it at public or private salesale (which shall be to a restricted group of purchasers who will be obligated to agree, among other things, to acquire such securities for their own account, for investment and not with a view to the distribution or resale thereof), at any exchange or broker's board or elsewhere, by one or more contracts, in one or more parcels, for cashMoney, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors Obligor acknowledges that any such private sale referenced above may be at prices and on terms less favorable to the seller than the prices and other terms that which might have been obtained at a public sale and agrees (and, notwithstanding the foregoing, agrees, to the extent permitted by applicable law) Law, that such private sale shall be deemed to have been made in a commercially reasonable mannermanner and that the Administrative Agent shall have no obligation to delay sale of any such securities for the period of time necessary to permit the issuer of such securities to register such securities for public sale under the Securities Act of 1933. Neither the Administrative Agent’s 's compliance with applicable law Law nor its disclaimer of warranties relating to the Collateral Pledged Equity shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor Obligor agrees that any requirement of reasonable notice shall be met if such notice notice, specifying the place of any public sale or the time after which any private sale is to be made, is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days 30 days before the time of sale or other event giving rise to the requirement of such notice. The Administrative 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. Each Obligor further acknowledges and agrees that any offer to sell any Pledged Equity which has been (i) publicly advertised on a bona fide basis in a newspaper or other publication of general circulation in the financial community of New York, New York (to the extent that such offer may be advertised without prior registration under the Securities Act of 1933), or (ii) made privately in the manner described above shall be deemed to involve a "public sale" under the UCC, notwithstanding that such sale may not constitute a "public offering" under the Securities Act of 1933, and the holders Administrative Agent may, in such event, bid for the purchase of the Secured Obligations such securities. The Administrative Agent shall not be obligated to make any sale or other disposition of the Collateral Pledged Equity regardless of notice having been given. To the extent permitted by applicable lawLaw, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable lawLaw, the Administrative Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral Pledged Equity by announcement at the time and place of such sale, and such 131 sale may, without further notice, to the extent permitted by applicable lawLaw, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place.

Appears in 1 contract

Samples: Credit Agreement (Phillips Edison - ARC Grocery Center REIT II, Inc.)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Agent and the holders of the Secured Obligations shall have, in addition to the rights and remedies provided herein, in the Loan Documents, in Credit Documents or any other documents relating to the Secured Obligations, or by law (including, without limitation, levy of attachment and garnishment)but not limited to, the rights and remedies of a secured party under set forth in the UCC Uniform Commercial Code of the jurisdiction applicable to the affected Collateral (the "UCC")) and, further, the Administrative Collateral Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Collateral Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Collateral Agent that which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Collateral Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Collateral Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Collateral Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Collateral Agent or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys' fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Collateral Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 11.1 of the Credit Agreement at least ten 10 Business Days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Collateral Agent and the holders of the Secured Obligations shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Collateral Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Collateral Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place.

Appears in 1 contract

Samples: Security Agreement (Rehabcare Group Inc)

General Remedies. Upon the occurrence of If an Event of Default shall occur and during the continuation thereofbe continuing, the Administrative Agent and the holders Agent, on behalf of the Secured Obligations shall haveParties, may exercise, in addition to the all other rights and remedies provided herein, granted to them in the Loan Documents, this Agreement and in any other documents instrument or agreement securing, evidencing or relating to the Secured Obligations, or by law (including, without limitation, levy of attachment and garnishment), the all rights and remedies of a secured party under the UCC or any other Applicable Law. Without limiting the generality of the jurisdiction applicable to the affected Collateral and, furtherforegoing, the Administrative Agent mayAgent, with without demand of performance or without judicial process other demand, presentment, protest, advertisement or the aid notice of any kind (except any notice required by Applicable Law as referred to below) to or upon any Grantor or any other Person (all and assistance each of others (to the extent permitted under applicable lawwhich demands, defenses, advertisements and notices are hereby waived), may in such circumstances forthwith collect, receive, appropriate and realize upon the Collateral, or any part thereof, «and/or may forthwith sell, lease, assign, give option or options to purchase, or otherwise dispose of and deliver the Collateral or any part thereof (i) subject or contract to the rights of tenants in possession, enter on any premises on which do any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Agent that is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice or hearing, all of which each of the Grantors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contractsforegoing), in one or more parcels, for cash, upon credit parcels at public or otherwiseprivate sale or sales, at such prices and upon such terms as the Administrative Agent deems advisableany exchange, in its sole discretion (subject to any and all mandatory legal requirements). Each broker’s board or office of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any other Secured Party or elsewhere upon such holder terms and conditions as it may deem advisable and at such prices as it may deem best, for cash or on credit or for future delivery without assumption of any credit risk. The Administrative Agent may disclaim any warranties in connection with any sale or other disposition of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any warranties of title, possession, quiet enjoyment and the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days before the time of sale or other event giving rise to the requirement of such noticelike. The Administrative Agent and or any other Secured Party shall have the holders of the Secured Obligations shall not be obligated to make right upon any such public sale or other disposition sales, and, to the extent permitted by law, upon any such private sale or sales, to purchase the whole or any part of the Collateral regardless so sold, free of notice having been givenany right or equity of redemption in any Grantor, which right or equity is hereby waived and released. Each Grantor further agrees, at the Administrative Agent’s request, to assemble the Collateral and make it available to the Administrative Agent at places which the Administrative Agent shall reasonably select, whether at such Grantor’s premises or elsewhere. To the extent permitted by applicable law, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable lawApplicable Law, each of the Grantors hereby Grantor waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable lawclaims, damages and demands it may acquire against the Administrative Agent and the holders or any other Secured Party arising out of the Secured Obligations may postpone or cause the postponement exercise by them of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, rights hereunder except to the extent permitted by applicable lawany such claims, be made at the time and place to which the sale was postponeddamages, or demands result solely from the gross negligence or willful misconduct of the Administrative Agent or any other Secured Party, in each case against whom such claim is asserted. If any notice of a proposed sale or other disposition of Collateral shall be required by law, such notice shall be deemed reasonable and the holders of the Secured Obligations may further postpone proper if given at least ten (10) days before such sale by announcement made at such time and placeor other disposition.

Appears in 1 contract

Samples: Credit Agreement (AbitibiBowater Inc.)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Collateral Agent and the holders of the Secured Obligations shall have, in addition to the rights and remedies provided herein, in the Loan Financing Documents, in any other documents relating to the Secured Obligations, or by law (including, without limitation, levy of attachment and garnishment), the rights and remedies of a secured party under the UCC of the jurisdiction applicable to the affected Collateral and, further, the Administrative Collateral Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Collateral Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Collateral Agent that is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Collateral Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Collateral Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Collateral Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Collateral Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Collateral Agent or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees fees, the allocated cost of internal counsel and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Collateral Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement 14 hereof at least ten Business Days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Collateral Agent and the holders of the Secured Obligations shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Collateral Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Collateral Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place.

Appears in 1 contract

Samples: Security Agreement (School Specialty Inc)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereofat ---------------- any time thereafter, the Administrative Agent and the holders of the Secured Obligations shall have, have in addition to the rights and remedies provided herein, in the Loan Documents, Documents or at law or in any other documents relating to the Secured Obligations, or by law (including, without limitation, levy of attachment and garnishment)equity, the rights and remedies of a secured party under the UCC Code (regardless of whether the Code is the law of the jurisdiction applicable where the rights and remedies are asserted and regardless of whether the Code applies to the affected Collateral andCollateral), further, and further the Administrative Agent may, may with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law), (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the GrantorsBorrower, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors Borrower to assemble and make available to the Administrative Agent at the Borrower's own expense of the Grantors any Collateral at any place and time designated by the Administrative Agent that which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, ; and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors Borrower hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent deems advisable, in its sole discretion (subject to discretion, provided that said disposition complies with any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured ObligationsAgent, the Grantors Borrower shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured ObligationsAgent, including, but not limited to, including reasonable attorneys' fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors Borrower concerning any matter arising out of or connected with this Security Agreement, any Agreement or the Collateral or the Secured Obligations, including, including without limitation, limitation any of the foregoing arising in, arising under or related to a case under the United States Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor the Borrower agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement 10 hereof at least ten Business Days 10 days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Agent and the holders of the Secured Obligations shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, the Agent or any holder of the Secured Obligations Lender may be a the purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors Borrower hereby waives all of its rights of redemption with respect to from any such sale. Subject to the provisions of applicable law, the Administrative Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, postponed or the Administrative Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place.

Appears in 1 contract

Samples: Security Agreement (Itc Deltacom Inc)

General Remedies. Upon the occurrence of If an Event of Default shall occur and during the continuation thereofbe continuing, the Administrative Agent and the holders Agent, on behalf of the Secured Obligations shall haveParties, may exercise, in addition to the all other rights and remedies provided herein, granted to them in the Loan Documents, this Agreement and in any other documents instrument or agreement securing, evidencing or relating to the Secured Obligations, or by law (including, without limitation, levy of attachment and garnishment), the all rights and remedies of a secured party under the UCC or any other Applicable Law. Without limiting the generality of the jurisdiction applicable to the affected Collateral and, furtherforegoing, the Administrative Agent mayAgent, with without demand of performance or without judicial process other demand, presentment, protest, advertisement or the aid notice of any kind (except any notice required by Applicable Law referred to below) to or upon any Grantor or any other Person (all and assistance each of others (to the extent permitted under applicable lawwhich demands, defenses, advertisements and notices are hereby waived), may in such circumstances forthwith collect, receive, appropriate and realize upon the Collateral, or any part thereof, and/or may forthwith sell, lease, assign, give option or options to purchase, or otherwise dispose of and deliver the Collateral or any part thereof (i) subject or contract to the rights of tenants in possession, enter on any premises on which do any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Agent that is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice or hearing, all of which each of the Grantors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contractsforegoing), in one or more parcels, for cash, upon credit parcels at public or otherwiseprivate sale or sales, at such prices and upon such terms as the Administrative Agent deems advisableany exchange, in its sole discretion (subject to any and all mandatory legal requirements). Each broker’s board or office of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any other Secured Party or elsewhere upon such holder of the Secured Obligationsterms and conditions as it may deem advisable and at such prices as it may deem best, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining for cash or liquidating the Collateral, in enforcing payment of the Secured Obligations, on credit or in the prosecution or defense for future delivery without assumption of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days before the time of sale or other event giving rise to the requirement of such noticecredit risk. The Administrative Agent and the holders of the Secured Obligations shall not be obligated to make may disclaim all warranties in connection with any sale or other disposition of the Collateral, including, without limitation, all warranties of title, possession, quiet enjoyment and the like. The Administrative Agent or any other Secured Party shall have the right upon any such public sale or sales, and, to the extent permitted by Applicable Law, upon any such private sale or sales, to purchase the whole or any part of the Collateral regardless so sold, free of notice having been givenany right or equity of redemption in any Grantor, which right or equity is hereby waived and released. Each Grantor further agrees, at the Administrative Agent’s request, to assemble the Collateral and make it available to the Administrative Agent at places which the Administrative Agent shall reasonably select, whether at such Grantor’s premises or elsewhere. To the extent permitted by applicable law, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable lawApplicable Law, each of the Grantors hereby Grantor waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable lawclaims, damages and demands it may acquire against the Administrative Agent and the holders or any other Secured Party arising out of the Secured Obligations may postpone or cause the postponement exercise by them of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, rights hereunder except to the extent permitted by applicable lawany such claims, be made at the time and place to which the sale was postponeddamages, or demands result solely from the gross negligence or willful misconduct of the Administrative Agent or any other Secured Party, in each case against whom such claim is asserted. If any notice of a proposed sale or other disposition of Collateral shall be required by Applicable Law, such notice shall be deemed reasonable and the holders of the Secured Obligations may further postpone proper if given at least ten (10) days before such sale by announcement made at such time and placeor other disposition.

Appears in 1 contract

Samples: Collateral Agreement (STAMPS.COM Inc)

General Remedies. Upon the occurrence of an a Seller Event of Default and during the continuation thereof, the Administrative Agent and the holders of the Secured Obligations Party shall have, in addition to the rights and remedies provided herein, in the Loan DocumentsPurchase Agreement, in any other documents relating to the Secured Obligations, or by law (including, without limitationbut not limited to, levy of attachment attachment, garnishment and garnishmentthe rights and remedies set forth in the UCC of the jurisdiction applicable to the affected Collateral), the rights and remedies of a secured party under the UCC of and the jurisdiction applicable to the affected Collateral and, further, the Administrative Agent Secured Party may, with or without judicial process or the aid and assistance of others (but subject to the extent permitted under compliance with applicable law), (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the GrantorsGrantor, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors Grantor to assemble and make available to the Administrative Agent Secured Party at the expense of the Grantors Grantor any Collateral at any place and time designated by the Administrative Agent that Secured Party which is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice or hearing, all of which each of the Grantors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, at any exchange or broker’s board or elsewhere, by one or more contracts, in one or more parcels, for cashMoney, upon credit or otherwise, at such prices and upon such terms as the Administrative Agent Secured Party deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative AgentSecured Party’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each The Grantor agrees that any requirement of reasonable notice shall be met if such notice notice, specifying the place of any public sale or the time after which any private sale is to be made, is personally served on or mailed, postage prepaid, to the Borrower Grantor in accordance with the notice provisions of Section 11.02 of the Credit Purchase Agreement at least ten Business Days 10 days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Agent Secured Party 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 holders of the time and place to which it was so adjourned. The Secured Obligations Party shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, any holder of the Secured Obligations Party may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors Grantor hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Agent and the holders of the Secured Obligations Party may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Agent and the holders of the Secured Obligations Party may further postpone such sale by announcement made at such time and place.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Ophthotech Corp.)

General Remedies. Upon the occurrence of an Event of Default and during the continuation thereof, the Administrative Collateral Agent and the holders of the Secured Obligations shall have, in addition to the rights and remedies provided herein, in the Loan Credit Documents, in any other documents relating to the Secured Obligations, or by law (including, without limitation, levy of attachment and garnishment), the rights and remedies of a secured party under the UCC of the jurisdiction applicable to the affected Collateral and, further, the Administrative Collateral Agent may, with or without judicial process or the aid and assistance of others (to the extent permitted under applicable law)others, (i) subject to the rights of tenants in possession, enter on any premises on which any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Collateral Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Collateral Agent that is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice notice, hearing or hearingprocess of law, all of which each of the Grantors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contracts, in one or more parcels, for cash, upon credit or otherwise, at such prices and upon such terms as the Administrative Collateral Agent deems advisable, in its sole discretion (subject to any and all mandatory legal requirements). Each of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Collateral Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Collateral Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Collateral Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Collateral Agent or any such holder of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees fees, the allocated cost of internal counsel and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Collateral Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any of the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days before the time of sale or other event giving rise to the requirement of such notice. The Administrative Collateral Agent and the holders of the Secured Obligations shall not be obligated to make any sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable law, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Collateral Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further notice, to the extent permitted by applicable law, be made at the time and place to which the sale was postponed, or the Administrative Collateral Agent and the holders of the Secured Obligations may further postpone such sale by announcement made at such time and place.

Appears in 1 contract

Samples: Security Agreement (School Specialty Inc)

General Remedies. Upon the occurrence of If an Event of Default shall occur and during the continuation thereofbe continuing, the Administrative Agent and the holders Agent, on behalf of the Secured Obligations shall haveParties, may exercise, in addition to the all other rights and remedies provided herein, granted to them under applicable Law in the Loan Documents, this Agreement and in any other documents instrument or agreement securing, evidencing or relating to the Secured Obligations, or by law (including, without limitation, levy of attachment and garnishment), the all rights and remedies of a secured party under the UCC or any other applicable Law. Without limiting the generality of the jurisdiction applicable to the affected Collateral and, furtherforegoing, the Administrative Agent mayAgent, with without demand of performance or without judicial process other demand, presentment, protest, advertisement or the aid notice of any kind (except any notice required by law referred to below) to or upon any Grantor or any other Person (all and assistance each of others (to the extent permitted under applicable lawwhich demands, defenses, advertisements and notices are hereby waived), may in such circumstances forthwith collect, receive, appropriate and realize upon the Collateral, or any part thereof, and/or may forthwith sell, lease, CHL:64157.6 assign, give option or options to purchase, or otherwise dispose of and deliver the Collateral or any part thereof (i) subject or contract to the rights of tenants in possession, enter on any premises on which do any of the Collateral may be located and, without resistance or interference by the Grantors, take possession of the Collateral, (ii) dispose of any Collateral on any such premises, (iii) require the Grantors to assemble and make available to the Administrative Agent at the expense of the Grantors any Collateral at any place and time designated by the Administrative Agent that is reasonably convenient to both parties, (iv) remove any Collateral from any such premises for the purpose of effecting sale or other disposition thereof, and/or (v) except as provided below in the case of notice required by law, without demand and without advertisement, notice or hearing, all of which each of the Grantors hereby waives to the fullest extent permitted by law, at any place and time or times, sell and deliver any or all Collateral held by or for it at public or private sale, by one or more contractsforegoing), in one or more parcels, for cash, upon credit parcels at public or otherwiseprivate sale or sales, at such prices and upon such terms as the Administrative Agent deems advisableany exchange, in its sole discretion (subject to any and all mandatory legal requirements). Each broker’s board or office of the Grantors acknowledges that any private sale referenced above may be at prices and on terms less favorable to the seller than the prices and terms that might have been obtained at a public sale and agrees (to the extent permitted by applicable law) that such private sale shall be deemed to have been made in a commercially reasonable manner. Neither the Administrative Agent’s compliance with applicable law nor its disclaimer of warranties relating to the Collateral shall be considered to adversely affect the commercial reasonableness of any sale. In addition to all other sums due the Administrative Agent and the holders of the Secured Obligations with respect to the Secured Obligations, the Grantors shall pay the Administrative Agent and each of the holders of the Secured Obligations all reasonable documented costs and expenses actually incurred by the Administrative Agent or any other Secured Party or elsewhere upon such holder terms and conditions as it may deem advisable and at such prices as it may deem best, for cash or on credit or for future delivery without assumption of any credit risk. The Administrative Agent may disclaim any warranties in connection with any sale or other disposition of the Secured Obligations, including, but not limited to, reasonable attorneys’ fees and court costs, in obtaining or liquidating the Collateral, in enforcing payment of the Secured Obligations, or in the prosecution or defense of any action or proceeding by or against the Administrative Agent or the holders of the Secured Obligations or the Grantors concerning any matter arising out of or connected with this Security Agreement, any Collateral or the Secured Obligations, including, without limitation, any warranties of title, possession, quiet enjoyment and the foregoing arising in, arising under or related to a case under the Bankruptcy Code. To the extent the rights of notice cannot be legally waived hereunder, each Grantor agrees that any requirement of reasonable notice shall be met if such notice is personally served on or mailed, postage prepaid, to the Borrower in accordance with the notice provisions of Section 11.02 of the Credit Agreement at least ten Business Days before the time of sale or other event giving rise to the requirement of such noticelike. The Administrative Agent and or any other Secured Party shall have the holders of the Secured Obligations shall not be obligated to make right upon any such public sale or other disposition of the Collateral regardless of notice having been given. To the extent permitted by applicable lawsales, any holder of the Secured Obligations may be a purchaser at any such sale. To the extent permitted by applicable law, each of the Grantors hereby waives all of its rights of redemption with respect to any such sale. Subject to the provisions of applicable law, the Administrative Agent and the holders of the Secured Obligations may postpone or cause the postponement of the sale of all or any portion of the Collateral by announcement at the time and place of such sale, and such sale may, without further noticeand, to the extent permitted by applicable law, be made upon any such private sale or sales, to purchase the whole or any part of the Collateral so sold, free of any right or equity of redemption in any Grantor, which right or equity is hereby waived and released. Each Grantor further agrees, at the time Administrative Agent’s request, to assemble the Collateral and place make it available to which the sale was postponed, or the Administrative Agent at places which the Administrative Agent shall reasonably select, whether at such Grantor’s premises or elsewhere. To the fullest extent permitted by applicable Law, each Grantor waives all claims, damages and demands it may acquire against the holders Administrative Agent or any other Secured Party arising out of the exercise by them of any rights hereunder except to the extent any such claims, damages, or demands result solely from the gross negligence or willful misconduct of the Administrative Agent or any other Secured Obligations may further postpone Party, in each case against whom such claim is asserted. If any notice of a proposed sale or other disposition of Collateral shall be required by law, such notice shall be deemed reasonable and proper if given at least ten (10) days before such sale by announcement made at such time and placeor other disposition.

Appears in 1 contract

Samples: Collateral Agreement (Heartland Payment Systems Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.