Common use of Personalty Collateral Clause in Contracts

Personalty Collateral. Upon the occurrence of an Event of Default, the Beneficiary may, without notice to Grantors, exercise its rights to declare all of the Obligations to be immediately due and payable, in which case the Beneficiary will have all rights and remedies granted by law, and particularly by the UCC, including, but not limited to, the right to take possession of any and all Collateral constituting personal property (the “Personalty Collateral”), and for this purpose the Beneficiary may enter upon any premises on which any or all of the Personalty Collateral is situated and take possession of and operate the Personalty Collateral or remove it therefrom. The Beneficiary may require Grantors to assemble the Personalty Collateral and make it available to the Beneficiary or the Trustee at a place to be designated by Beneficiary which is reasonably convenient to all parties. Unless the Personalty Collateral is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market, the Beneficiary will give Grantors reasonable notice of the time and place of any public sale or of the time after which any private sale or other disposition of the Personalty Collateral is to be made. This requirement of sending reasonable notice will be met if the notice is mailed, postage prepaid, to Grantors at the address designated above at least ten (10) days before the time of the sale or disposition.

Personalty Collateral. Upon the occurrence of an Event of Default, the Beneficiary or at any time thereafter, Lender may, without notice to GrantorsMortgagor, exercise its rights right to declare all of Obligations secured by the Obligations security interest created herein to be immediately due and payable, payable in which case the Beneficiary Lender will have all rights and remedies granted by law, law and particularly by the UCCCode, including, including but not limited to, the right to take possession of any and all Collateral constituting personal property (the “Personalty Collateral”), and for this purpose the Beneficiary Lender may enter upon any premises on which any or all of the Personalty Collateral is situated and take possession of and operate the Personalty Collateral or remove it therefrom. The Beneficiary Lender may require Grantors Mortgagor to assemble the Personalty Collateral and make it available to the Beneficiary or the Trustee Lender at a place to be designated by Beneficiary Lender which is reasonably convenient to all both parties. Unless the Personalty Collateral is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market, the Beneficiary Lender will give Grantors Mortgagor reasonable notice of the time and place of any public sale or of the time after which any private sale or other disposition of the Personalty Collateral is to be made. This requirement of sending reasonable notice will be met if the notice is mailed, postage prepaid, to Grantors Mortgagor at the address designated above at least ten (10) days before the time of the sale or disposition.

Personalty Collateral. Upon the occurrence of an Event of Default, the Beneficiary or at any time thereafter, Lender may, without notice to GrantorsMortgagor, exercise its rights right to declare all of Obligations secured by the Obligations security interest created herein to be immediately due and payable, payable in which case the Beneficiary Lender will have all rights and remedies granted by law, law and particularly by the UCCCode, including, including but not limited to, the right to take possession of any and all Collateral constituting personal property (the “Personalty Collateral”), and for this purpose the Beneficiary Lender may enter upon any premises on which any or all of the Personalty Collateral is situated and take possession of and operate the Personalty Collateral or remove it therefrom. The Beneficiary Lender may require Grantors Mortgagor to assemble the Personalty Collateral and make it available to the Beneficiary or the Trustee Lender at a place to be designated by Beneficiary Lender which is reasonably convenient to all both parties. Unless the Personalty Collateral is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market, the Beneficiary Lender will give Grantors Mortgagor reasonable notice of the time and place of any public sale or of the time after which any private sale or other disposition of the Personalty Collateral is to be made. This requirement of sending reasonable notice will be met if the notice is mailed, postage prepaid, to Grantors Mortgagor at the address designated above at least ten (10) five days before the time of the sale or disposition.

Personalty Collateral. Upon the occurrence of an Event of --------------------- Default, the or at any time thereafter, Beneficiary may, without notice to GrantorsTrustor, exercise its rights to declare all of the Obligations to be immediately due and payable, in which case the Beneficiary will have all rights and remedies granted by law, and particularly by the UCCUniform Commercial Code, including, but not limited to, the right to take possession of any and all Collateral constituting personal property (the “Personalty Collateral”), and for this purpose the Beneficiary may enter upon any premises on which any or all of the Personalty Collateral is situated and take possession of and operate the Personalty Collateral or remove it therefrom. The Beneficiary may require Grantors Trustor to assemble the Personalty Collateral and make it available to the Beneficiary or the Trustee at a place to be designated by Beneficiary which is reasonably convenient to all parties. Unless the Personalty Collateral is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market, the Beneficiary will give Grantors Trustor reasonable notice of the time and place of any public sale or of the time after which any private sale or other disposition of the Personalty Collateral is to be made. This requirement of sending reasonable notice will be met if the notice is mailed, postage prepaid, to Grantors Trustor at the address designated above at least ten (10) five days before the time of the sale or disposition.