Common use of Management of the Collateral Clause in Contracts

Management of the Collateral. Each Grantor further agrees, that, during the continuance of any Event of Default, (i) at the Secured Party’s request, it shall assemble the Collateral and make it available to the Secured Party at places that the Secured Party shall reasonably select, whether at such Grantor’s premises or elsewhere, (ii) without limiting the foregoing, the Secured Party also has the right to require that each Grantor store and keep any Collateral pending further action by the Secured Party and, while any such Collateral is so stored or kept, provide such guards and maintenance services as shall be necessary to protect the same and to preserve and maintain such Collateral in good condition, (iii) until the Secured Party is able to dispose of any Collateral, the Secured Party shall have the right to hold or use such Collateral to the extent that it deems appropriate for the purpose of preserving the Collateral or its value or for any other purpose deemed appropriate by the Secured Party and (iv) the Secured Party may, if it so elects, seek the appointment of a receiver or keeper to take possession of any Collateral and to enforce any of the Secured Party’s remedies, with respect to such appointment without prior notice or hearing as to such appointment. The Secured Party shall not have any obligation to any Grantor to maintain or preserve the rights of any Grantor as against third parties with respect to any Collateral while such Collateral is in the possession of the Secured Party.

Management of the Collateral. Each The Grantor further agrees, that, during the continuance of any Event of Default, (i) at the Secured Party’s 's request, it shall assemble the Collateral and make it available to the Secured Party at places that the Secured Party shall reasonably select, whether at such the Grantor’s 's premises or elsewhere, (ii) without limiting the foregoing, the Secured Party also has the right to require that each the Grantor store and keep any Collateral pending further action by the Secured Party and, while any such Collateral is so stored or kept, provide such guards and maintenance services as shall be necessary to protect the same and to preserve and maintain such Collateral in good condition, (iii) until the Secured Party is able to dispose of sell, assign, convey or transfer any Collateral, the Secured Party shall have the right to hold or use such Collateral to the extent that it deems appropriate for the purpose of preserving the Collateral or its value or for any other purpose deemed appropriate by the Secured Party and (iv) the Secured Party may, if it so elects, seek the appointment of a receiver or keeper to take possession of any Collateral and to enforce any of the Secured Party’s 's remedies, with respect to such appointment without prior notice or hearing as to such appointment. The Secured Party shall not have any obligation to any the Grantor to maintain or preserve the rights of any the Grantor as against third parties with respect to any Collateral while such Collateral is in the possession of the Secured Party.

Management of the Collateral. Each Grantor further agrees, that, during the continuance of any Event of Default, (i) at the Secured PartyPurchaser’s written request, it shall assemble the Collateral and make it available to the Secured Party Purchaser at places that the Secured Party Purchaser shall reasonably select, whether at such Grantor’s premises or elsewhere, (ii) without limiting the foregoing, the Secured Party Purchaser also has the right to require that each Grantor store and keep any tangible Collateral pending further action by the Secured Party Purchaser and, while any such Collateral is so stored or kept, provide such guards and maintenance services as shall be reasonably necessary to protect the same and to preserve and maintain such Collateral in good condition, (iii) until the Secured Party Purchaser is able to dispose of sell, assign, convey or transfer any Collateral, the Secured Party Purchaser shall have the right to hold or use such Collateral to the extent that it deems appropriate reasonably necessary for the purpose of preserving the Collateral or its value or for any other purpose deemed appropriate reasonably necessary by the Secured Party Purchaser and (iv) the Secured Party Purchaser may, if it so elects, seek the appointment of a receiver or keeper to take possession of any Collateral and to enforce any of the Secured PartyPurchaser’s remedies, with respect to such appointment without prior notice or hearing as to such appointment. The Secured Party Purchaser shall not have any obligation to any Grantor to maintain or preserve the rights of any Grantor as against third parties with respect to any Collateral while such Collateral is in the possession of the Secured PartyPurchaser.