LIQUIDATION LEVEL. If during the term of a Loan, the Collateral Level falls below the Liquidation Level as set forth on the Loan Term Sheet, this shall automatically trigger an Event of Default and the Lender shall have the right to sell the Collateral in any legal manner and through any legal market or dealer (without prior notice to the Borrower, unless required by law) and shall be entitled to exercise its rights under clause 12. The Borrower understands and agrees that it shall have no right or opportunity to
Appears in 2 contracts
Sources: Master Loan Agreement (Fold Holdings, Inc.), Master Loan Agreement (Fold Holdings, Inc.)