Common use of Non-Judicial Remedies Clause in Contracts

Non-Judicial Remedies. In granting to the Collateral Agent the power to enforce its rights hereunder without prior judicial process or judicial hearing, to the extent permitted by applicable Law, each Grantor waives, renounces and knowingly relinquishes any legal right that might otherwise require the Collateral Agent to enforce its rights by judicial process and confirms that such remedies are consistent with the usage of trade, are responsive to commercial necessity and are the result of a bargain at arm’s length. The Collateral Agent may, however, in its discretion, resort to judicial process.

Non-Judicial Remedies. In granting to the Collateral Agent the power to enforce its rights hereunder without prior judicial process or judicial hearing, to the extent permitted by applicable Law, each Grantor expressly waives, renounces and knowingly relinquishes any legal right that which might otherwise require the Collateral Agent to enforce its rights by judicial process process. In so providing for non-judicial remedies, each Grantor recognizes and confirms concedes that such remedies are consistent with the usage of trade, are responsive to commercial necessity necessity, and are the result of a bargain at arm’s length. The Collateral Agent mayNothing herein is intended, however, in its discretion, resort to prevent the Collateral Agent from resorting to judicial processprocess at its option.

Non-Judicial Remedies. In granting to the Collateral Agent the power to enforce its rights hereunder without prior judicial process or judicial hearing, to the extent permitted by applicable Law, each Grantor waives, renounces and knowingly relinquishes any legal right that might otherwise require the Collateral Agent to enforce its rights by judicial process and confirms that such remedies are consistent with the usage of trade, are responsive to commercial necessity and are the result of a bargain at arm’s length. The Collateral Agent may, however, in its discretion, resort to judicial process.

Non-Judicial Remedies. In granting to the Collateral Agent the power to enforce its rights hereunder without prior judicial process or judicial hearing, to the extent permitted by applicable Law, each Grantor expressly waives, renounces and knowingly relinquishes any legal right that which might otherwise require the Collateral Agent to enforce its rights by judicial process process. In so providing for non judicial remedies, each Grantor recognizes and confirms concedes that such remedies are consistent with the usage of trade, are responsive to commercial necessity necessity, and are the result of a bargain at arm’s length. The Collateral Agent mayNothing herein is intended, however, in its discretion, resort to prevent the Collateral Agent or any Grantor from resorting to judicial processprocess at its option.