Common use of Possession and Sale of Collateral, Etc Clause in Contracts

Possession and Sale of Collateral, Etc. Secured Party may exercise in respect of the Collateral all rights and remedies hereunder and under the Loan Documents, all the rights and remedies of a secured party under the Code and all rights and remedies otherwise available to it. In addition, Secured Party may notify any and all account debtors of the Debtor to make all further payments to Secured Party, and enter upon each premises of wherever the Collateral may be and take possession of the Collateral and demand and receive such possession from any Person who has possession thereof; and take such measures as it may deem necessary or proper for the care or protection thereof, including the right to remove all or any portion of the Collateral (but Secured Party shall not be obligated to do so). With or without taking such possession, Secured Party may sell or cause to be sold, whenever Secured Party shall decide, in one or more sales or parcels, and at such price or prices and upon such other terms as may be commercially reasonable (irrespective of the impact of any such sales on the market price of such assets), and for cash or on credit or for future delivery, without assumption of any credit risk, all or any portion of the Collateral at any broker's board or at public or private sale. Secured Party may be the purchaser at any public or private sale to the extent permitted by law and provided such sale is conducted in accordance with the Code of any or all of the Collateral so sold and shall be entitled, for the purpose of bidding and making settlement or payment of the purchase price for all or any portion of such assets sold at any such public or private sale, to use and apply any or all of the Secured Obligations as a credit on account of the purchase price payable by Secured Party at such sale. Each purchaser (including the Secured Party) at any such sales shall thereafter hold the Collateral purchased absolutely free from any claim or right of whatever kind, including any equity of redemption of the Debtor, any such demand, notice, claim, right and equity being hereby expressly waived and released. Debtor agree that, to the extent notice of sale shall be required by law, at least ten (10) days' notice of sale to the Debtor 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. Secured Party shall not be obligated to make any sale of the Collateral regardless of notice of sale having been given. 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 time and place to which it was so adjourned. Debtor hereby waive any claims against Secured Party arising by reason of the fact that the price at which any Collateral may have been sold at such a private sale was less than the price which might have been obtained at a public sale, even if Secured Party accepts the first offer received and does not offer such Collateral to more than one offeree, provided such private sale is conducted in a commercially reasonable manner.

Possession and Sale of Collateral, Etc. Secured Party may exercise in respect of the Collateral all rights and remedies hereunder and under the Loan Documents, all the rights and remedies of a secured party under the Code and all rights and remedies otherwise available to it. In addition, Secured Party may notify any and all account debtors of the Debtor to make all further payments to Secured Party, and enter upon each premises of wherever the Collateral may be and take possession of the Collateral and demand and receive such possession from any Person who has possession thereof; and take such measures as it may deem necessary or proper for the care or protection thereof, including the right to remove all or any portion of the Collateral (but Secured Party shall not be obligated to do so). With or without taking such possession, Secured Party may sell or cause to be sold, whenever Secured Party shall decide, in one or more sales or parcels, and at such price or prices and upon such other terms as may be commercially reasonable (irrespective of the impact of any such sales on the market price of such assets), and for cash or on credit or for future delivery, without assumption of any credit risk, all or any portion of the Collateral at any broker's board or at public or private sale. Secured Party may be the purchaser at any public or private sale to the extent permitted by law and provided such sale is conducted in accordance with the Code of any or all of the Collateral so sold and shall be entitled, for the purpose of bidding and making settlement or payment of the purchase price for all or any portion of such assets sold at any such public or private sale, to use and apply any or all of the Secured Obligations Note as a credit on account of the purchase price payable by Secured Party at such sale. Each purchaser (including the Secured Party) at any such sales shall thereafter hold the Collateral purchased absolutely free from any claim or right of whatever kind, including any equity of redemption of the Debtor, any such demand, notice, claim, right and equity being hereby expressly waived and released. Debtor agree that, to the extent notice of sale shall be required by law, at least ten (10) days' notice of sale to the Debtor 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. Secured Party shall not be obligated to make any sale of the Collateral regardless of notice of sale having been given. Secured Party may adjourn any public or private sale from time to time by announcement at the time and place fixed therefortherefore, and such sale may, without further notice be made at the time and place to which it was so adjourned. Debtor hereby waive any claims against Secured Party arising by reason of the fact that the price at which any Collateral may have been sold at such a private sale was less than the price which might have been obtained at a public sale, even if Secured Party accepts the first offer received and does not offer such Collateral to more than one offeree, provided such private sale is conducted in a commercially reasonable manner.

Possession and Sale of Collateral, Etc. Secured Party The Bank --------------------------------------- may exercise in respect of the Collateral and the New Collateral, all other rights and remedies hereunder and under the Loan Documents, all the rights and remedies of a secured party under the Code and all rights and remedies otherwise available to itCode. In addition, Secured Party the Bank may notify any and all account debtors of the Debtor Borrower to make all further payments License Payments to Secured Partythe Bank, and enter upon each premises of wherever the Collateral and/or the New Collateral may be and take possession of the Collateral and/or the New Collateral and demand and receive such possession from any Person who has possession thereof; and take such measures as it may deem necessary or proper for the care or protection thereof, including the right to remove all or any portion of the Collateral and the New Collateral (but Secured Party the Bank shall not be obligated to do so). With or without taking such possession, Secured Party the Bank may sell or cause to be sold, whenever Secured Party the Bank shall decide, in one or more sales or parcels, and at such price or prices and upon such other terms as the Bank may be deem commercially reasonable (irrespective of the impact of any such sales on the market price of such assets), and for cash or on credit or for future delivery, without assumption of any credit risk, all or any portion of the Collateral and the New Collateral at any broker's board or at public or private sale. Secured Party The Bank may be the purchaser at any public or private sale to the extent permitted by law and provided such sale is conducted in accordance with the Code of any or all of the Collateral and New Collateral so sold and shall be entitled, for the purpose of bidding and making settlement or payment of the purchase price for all or any portion of such assets sold at any such public or private sale, to use and apply any or all of the Secured Obligations as a credit on account of the purchase price payable by Secured Party the Bank at such sale. Each purchaser (including the Secured PartyBank) at any such sales shall thereafter hold the Collateral and/or the New Collateral purchased absolutely free from any claim or right of whatever kind, including any equity of redemption of the DebtorBorrower, any such demand, notice, claim, right and equity being hereby expressly waived and released. Debtor agree The Borrower agrees that, to the extent notice of sale shall be required by law, at least ten (10) daysBusiness Days' notice of sale to the Debtor Borrower 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. Secured Party The Bank shall not be obligated to make any sale of the Collateral or the New Collateral regardless of notice of sale having been given. Secured Party The Bank 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 has so adjourned. Debtor The Borrower hereby waive waives any claims against Secured Party the Bank arising by reason of the fact that the price at which any Collateral or New Collateral may have been sold at such a private sale was less than the price which might have been obtained at a public sale, even if Secured Party the Bank accepts the first offer received and does not offer such Collateral or New Collateral to more than one offeree, provided such private sale is conducted in a commercially reasonable manner.; and

Possession and Sale of Collateral, Etc. Secured Party The Bank may exercise in respect of the Collateral Collateral, all other rights and remedies hereunder and under the Loan Documents, all the rights and remedies of a secured party under the Code and all rights and remedies otherwise available to itCode. In addition, Secured Party the Bank may notify any and all account debtors of the Debtor Borrowers to make all further payments Product Payments to Secured Partythe Bank, and enter upon each premises of wherever the Collateral may be and take possession of the Collateral and demand and receive such possession from any Person who has possession thereof; and take such measures as it may deem necessary or proper for the care or protection thereof, including the right to remove all or any portion of the Collateral (but Secured Party the Bank shall not be obligated to do so). With or without taking such possession, Secured Party the Bank may sell or cause to be sold, whenever Secured Party the Bank shall decide, in one or more sales or parcels, and at such price or prices and upon such other terms as the Bank may be deem commercially reasonable (irrespective of the impact of any such sales on the market price of such assets), and for cash or on credit or for future delivery, without assumption of any credit risk, all or any portion of the Collateral at any broker's board or at public or private sale. Secured Party The Bank may be the purchaser at any public or private sale to the extent permitted by law and provided such sale is conducted in accordance with the Code of any or all of the Collateral so sold and shall be entitled, for the purpose of bidding and making settlement or payment of the purchase price for all or any portion of such assets sold at any such public or private sale, to use and apply any or all of the Secured Obligations as a credit on account of the purchase price payable by Secured Party the Bank at such sale. Each purchaser (including the Secured PartyBank) at any such sales shall thereafter hold the Collateral purchased absolutely free from any claim or right of whatever kind, including any equity of redemption of the DebtorBorrowers, any such demand, notice, claim, right and equity being hereby expressly waived and released. Debtor The Borrowers agree that, to the extent notice of sale shall be required by law, at least ten (10) daysBusiness Days' notice of sale to the Debtor Borrowers 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. Secured Party The Bank shall not be obligated to make any sale of the Collateral regardless of notice of sale having been given. Secured Party The Bank 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. Debtor The Borrowers hereby waive any claims against Secured Party the Bank arising by reason of the fact that the price at which any Collateral may have been sold at such a private sale was less than the price which might have been obtained at a public sale, even if Secured Party the Bank accepts the first offer received and does not offer such Collateral to more than one offeree, provided such private sale is conducted in a commercially reasonable manner.; and