Common use of Preservation of Collateral Clause in Contracts

Preservation of Collateral. Following the occurrence of a Default or Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ owned or leased property. Each Borrower shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 11 contracts

Samples: Credit and Security Agreement (ARKO Corp.), Credit and Security Agreement (ARKO Corp.), Credit and Security Agreement (Green Plains Inc.)

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Preservation of Collateral. Following the occurrence of a Default or an Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) subject to the rights of the applicable landlords, may employ and maintain at any of any BorrowerLoan Party’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) subject to the rights of the applicable lessors, may use any BorrowerLoan Party’s owned or leased lifts, hoists, trucks and other facilities or equipment Equipment for handling or removing the Collateral; and (e) subject to the rights of the applicable landlords, shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowersthe Loan Parties’ owned or leased property; and (f) pay or discharge taxes and Liens levied or placed on or threatened against the Collateral, effect any repairs or purchase any insurance called for by the terms of this Agreement or the Other Documents and pay all or any part of the premiums therefor and the costs thereof. Each Borrower Loan Party shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the ObligationsObligations or, at Agent’s option, shall be paid by the Borrowers to Agent for its benefit and for the ratable benefit of Lenders not later than ten (10) Business Days after written demand.

Appears in 4 contracts

Samples: Security Agreement (Quantum Corp /De/), Revolving Credit and Security Agreement (Quantum Corp /De/), Credit and Security Agreement (Quantum Corp /De/)

Preservation of Collateral. Following the occurrence of a Default or Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any BorrowerLoan Party’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any BorrowerLoan Party’s owned or leased lifts, hoists, trucks and other facilities or equipment Equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Real Property owned or leased propertyby any Loan Party. Each Borrower Loan Party shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 4 contracts

Samples: Security Agreement (Williams Industrial Services Group Inc.), Revolving Credit and Security Agreement (Williams Industrial Services Group Inc.), Security Agreement (Williams Industrial Services Group Inc.)

Preservation of Collateral. Following the occurrence of a Default or Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ owned or leased property. Each Borrower shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 4 contracts

Samples: Security Agreement (PHI Group, Inc./De), Loan and Security Agreement (PHI Group, Inc./De), Loan and Security Agreement (PHI Group, Inc./De)

Preservation of Collateral. Following the occurrence of a Default or Event of Default, in In addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s 's interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s 's premises a custodian who shall have full authority to do all acts necessary to protect Agent’s 's interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s 's owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Borrower's owned or leased property. Each Borrower shall cooperate fully with all of Agent’s 's efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s 's expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers' Account as a Revolving Advance maintained as of a Domestic Rate Loan and added to the Obligations.

Appears in 4 contracts

Samples: Revolving Credit and Security Agreement (Lesco Inc/Oh), Security Agreement (Lesco Inc/Oh), Security Agreement (Lesco Inc/Oh)

Preservation of Collateral. Following Each Credit Party will safeguard and protect all Collateral for Agent’s and the occurrence of a Default or Event of Default, in other Secured Parties’ general account. In addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary in the exercise of its Permitted Discretion to protect Agent’s interest in and to preserve the Collateral, including upon the occurrence and during the continuance of an Event of Default, the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) upon the occurrence and during the continuance of an Event of Default, may employ and maintain at any of any Borrowereach Credit Party’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) upon the occurrence and during the continuance of an Event of Default, may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) upon the occurrence and during the continuance of an Event of Default, may use any BorrowerCredit Party’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) subject to Section 4.9 hereof, shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of BorrowersCredit Parties’ owned or leased property, subject to the rights of the landlords of any leased Real Property. Each Borrower Subject to the other provisions of this Agreement regarding Credit Parties’ maintenance of Collateral, each Credit Party shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may directdirect in its Permitted Discretion. All Subject to Section 16.9, all of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 4 contracts

Samples: Credit and Security Agreement, Revolving Credit and Security Agreement (Emerge Energy Services LP), Credit and Security Agreement (Emerge Energy Services LP)

Preservation of Collateral. Following the occurrence of a Default or Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof11.1, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s owned or leased lifts, hoists, trucks and other facilities or equipment Equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ owned or leased property. Each Borrower shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All Subject to Section 17.9, all of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 3 contracts

Samples: Guaranty and Security Agreement (Innovex Downhole Solutions, Inc.), Security Agreement (Innovex Downhole Solutions, Inc.), Guaranty and Security Agreement (Innovex Downhole Solutions, Inc.)

Preservation of Collateral. Following the occurrence of a Default or Event of Default, in In addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Borrower’s owned or leased property. Each Borrower shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 3 contracts

Samples: Security Agreement (Geokinetics Inc), Security Agreement (Geokinetics Inc), Security Agreement (Geokinetics Inc)

Preservation of Collateral. Following the occurrence of a Default or Event of Default, in In addition to the rights and remedies set forth in Section 11.1 hereof11.1, AgentAgent may following the occurrence and during the continuation of an Event of Default: (a) may at any time take such steps as Agent deems necessary in its reasonable credit judgment to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any BorrowerLoan Party’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; and (d) may use any BorrowerLoan Party’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; . In addition, following the occurrence and (e) during the continuation of an Event of Default or in connection with any inspections or field examinations performed by or on behalf of Agent, Agent shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Loan Party’s owned or leased property. Each Borrower Loan Party shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate paid by the Loan and added to the ObligationsParties in accordance with Section 15.9 of this Agreement.

Appears in 3 contracts

Samples: Loan and Security Agreement (Veeco Instruments Inc), Loan and Security Agreement (Marketwise, Inc.), Loan and Security Agreement (Marketwise, Inc.)

Preservation of Collateral. Following Each Credit Party will safeguard and protect all Collateral for Agent’s and the occurrence of a Default or Event of Default, in other Secured Parties’ general account. In addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary in the exercise of its Permitted Discretion to protect Agent’s interest in and to preserve the Collateral, including upon the occurrence and during the continuance of an Event of Default, the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) upon the occurrence and during the continuance of an Event of Default, may employ and maintain at any of any Borrowereach Credit Party’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) upon the occurrence and during the continuance of an Event of Default, may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) upon the occurrence and during the continuance of an Event of Default, may use any BorrowerCredit Party’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of BorrowersCredit Parties’ owned or leased property, subject to the rights of the landlords of any leased Real Property. Each Borrower Subject to the other provisions of this Agreement regarding Credit Parties’ maintenance of Collateral, each Credit Party shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may directdirect in its Permitted Discretion. All Subject to Section 16.9, all of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 3 contracts

Samples: Credit and Security Agreement (Emerge Energy Services LP), Credit and Security Agreement (Emerge Energy Services LP), Credit and Security Agreement (Emerge Energy Services LP)

Preservation of Collateral. Following the occurrence of a Default or Event of Default, Default that is continuing in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any BorrowerCredit Party’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any BorrowerCredit Party’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ any Credit Party’s owned or leased property. Each Borrower Credit Party shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Borrower’s Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 3 contracts

Samples: Security Agreement (Perma Fix Environmental Services Inc), Security Agreement (Perma Fix Environmental Services Inc), Security Agreement (Perma Fix Environmental Services Inc)

Preservation of Collateral. Following the occurrence and during the continuance of a Default or an Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems may be reasonably necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriatemeasures; (b) may employ and maintain at any of any BorrowerNote Party’s premises a custodian who shall have full authority to do all acts reasonably necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any BorrowerNote Party’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowersthe Note Parties’ owned or leased property. Each Borrower Note Party shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may reasonably direct. All of Agent’s actual, reasonable expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the ObligationsIssuer.

Appears in 3 contracts

Samples: Note Purchase Agreement (Keane Group, Inc.), Note Purchase Agreement (Keane Group, Inc.), Note Purchase Agreement (Keane Group, Inc.)

Preservation of Collateral. Following the occurrence of a Default or an Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: Agent (acting at the direction of the Required Lenders): (a) may at any time take such steps as Agent deems or the Required Lenders deem necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent or the Required Lenders may deem appropriate; (b) subject to the rights of the applicable landlords, may employ and maintain at any of any BorrowerLoan Party’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) subject to the rights of the applicable lessors, may use any BorrowerLoan Party’s owned or leased lifts, hoists, trucks and other facilities or equipment Equipment for handling or removing the Collateral; and (e) subject to the rights of the applicable landlords, shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowersthe Loan Parties’ owned or leased property; and (f) pay or discharge taxes and Liens levied or placed on or threatened against the Collateral, effect any repairs or purchase any insurance called for by the terms of this Agreement or the Other Documents and pay all or any part of the premiums therefor and the costs thereof. Each Borrower Loan Party shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may directdirect (acting at the direction of the Required Lenders). All of Agent’s and Lenders’ expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged at the sole expense of the Borrowers and payable by the Borrowers to Borrowers’ Account Agent or Lenders, as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligationscase may be, for its or their benefit not later than ten (10) Business Days after written demand.

Appears in 3 contracts

Samples: Security Agreement (Quantum Corp /De/), Security Agreement (Quantum Corp /De/), Term Loan Credit and Security Agreement (Quantum Corp /De/)

Preservation of Collateral. Following the occurrence of a Default or Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Borrower’s owned or leased property. Each Borrower shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Borrower’s Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 3 contracts

Samples: Security Agreement (Research Pharmaceutical Services, Inc.), Security Agreement (Research Pharmaceutical Services, Inc.), Security Agreement (Research Pharmaceutical Services, Inc.)

Preservation of Collateral. Following the occurrence and during the continuance of a Default or an Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof11.1, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Borrower’s owned or leased property. Each Borrower shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may reasonably direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall may be immediately charged to Borrowers’ Account as a Revolving Advance maintained as of a Domestic Rate Loan and added to the Obligations, or, at Agent’s option, shall be paid to Agent for its benefit and for the ratable benefit of Lenders within five (5) days after demand. Each such charge to Borrowers’ Account or demand shall be accompanied by a reasonable description of such charge to Borrowing Agent.

Appears in 3 contracts

Samples: Guaranty, and Security Agreement (Rocky Brands, Inc.), Revolving Credit, Guaranty, and Security Agreement (Rocky Brands, Inc.), , and Security Agreement (Rocky Brands, Inc.)

Preservation of Collateral. Following the occurrence of a Default or Event of Default, in In addition to the rights and remedies set forth in Section 11.1 hereof, upon the occurrence and during the continuance of an Event of Default, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any BorrowerGrantor’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any BorrowerGrantor’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ any Grantor’s owned or leased property; and (f) appoint by instrument in writing a receiver (which term shall include a receiver and manager or agent) of any Grantor and of all or any part of the Collateral and remove or replace such receiver from time to time or may institute proceedings in any court of competent jurisdiction for the appointment of a receiver (any such receiver appointed by the Agent, with respect to responsibility for its acts, shall, to the extent permitted by Applicable Law, be deemed the agent of such Grantor and not of the Agent). Each Borrower Grantor shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Borrower’s Account as a Revolving an Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 2 contracts

Samples: Revolving Credit and Security Agreement (Horsehead Holding Corp), Revolving Credit and Security Agreement (Horsehead Holding Corp)

Preservation of Collateral. Following the occurrence of a Default or Event of Default, in In addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s 's security interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s 's premises a custodian who shall have full authority to do all acts necessary to protect Agent’s 's security interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s 's owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Borrower's owned or leased property. Each Borrower shall cooperate fully with all of Agent’s 's efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s 's expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account ' account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 2 contracts

Samples: Revolving Credit and Security Agreement (E Com Ventures Inc), Revolving Credit and Security Agreement (E Com Ventures Inc)

Preservation of Collateral. Following the occurrence of a Default or Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s or Guarantor’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s or Guarantor’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ or Guarantors’ owned or leased property; and (f) may direct any Canadian Loan Party to assign the last day of the term of any lease or agreement for lease of real property that is included in the Collateral to Agent, its nominee or any other Person in connection with the enforcement of Agent’s rights and remedies set forth in Section 11.1 hereof. Each Borrower and each Guarantor shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 2 contracts

Samples: Revolving Credit and Security Agreement (Build a Bear Workshop Inc), Revolving Credit and Security Agreement (Build-a-Bear Workshop Inc)

Preservation of Collateral. Following the occurrence of a Default or Event of Default, in In addition to the rights and remedies set forth in Section 11.1 hereof11.1, after the occurrence and during the continuance of an Event of Default (but without limiting the rights of Agent and Lenders and Term Lender under Section 4.10) Agent: (a) may at any time take such steps as Agent deems in good xxxxx xxxxx necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrowereach Loan Party’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any BorrowerLoan Party’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Loan Party’s owned or leased property. Each Borrower Loan Parties shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Borrower’s Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 2 contracts

Samples: Financing Agreement (Rafaella Apparel Group,inc.), Financing Agreement (Rafaella Apparel Group,inc.)

Preservation of Collateral. Following the occurrence and during the continuance of a Default or an Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent reasonably deems necessary to protect Agent’s 's interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s Borrowers' premises a custodian who shall have full authority to do all acts necessary to protect Agent’s 's interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s Borrowers' owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers' owned or leased property. Each Borrower Borrowers shall cooperate fully with all of Agent’s 's efforts to preserve the Collateral and will take such reasonable actions to preserve the Collateral as Agent may direct. All of Agent’s 's expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers' Account as a Revolving Advance maintained as of a Domestic Rate Loan and added to the Obligations, or, at Agent's option, shall be paid to Agent for the ratable benefit of Lenders upon demand.

Appears in 2 contracts

Samples: Security Agreement (Richton International Corp), Security Agreement (Richton International Corp)

Preservation of Collateral. Following the occurrence and during the continuance of a Default or an Event of DefaultDefault and the demand by Agent for payment of all Obligations due and owing, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriatenecessary; (b) may employ and maintain at any of any BorrowerBorrowing Base Party’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any BorrowerBorrowing Base Party’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Borrowing Base Party’s owned or leased propertyproperty (subject to the terms of the applicable lease and the rights of the parties thereunder), in each case, in accordance with, and subject to the other terms of, this Article IV. Each Borrower shall, and shall cause each Borrowing Base Party to, cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall constitute Obligations and shall be charged payable pursuant to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the ObligationsSection 15.9.

Appears in 2 contracts

Samples: Credit Agreement (Boot Barn Holdings, Inc.), Credit Agreement (Boot Barn Holdings, Inc.)

Preservation of Collateral. Following the occurrence of a Default or Event of Default, in Each Borrower will safeguard and protect all Collateral for Agent’s general account. In addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary in the exercise of its Permitted Discretion to protect Agent’s interest in and to preserve the Collateral, including after the occurrence and during the continuance of an Event of Default, the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) after the occurrence and during the continuance of an Event of Default, may employ and maintain at any of any each Borrower’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) after the occurrence and during the continuance of a Default or Event of Default, may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) after the occurrence and during the continuance of an Event of Default, may use any Borrower’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) subject to Section 4.10 hereof, shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ owned or leased property, subject to the rights of the landlords of any leased Real Property and, if applicable, the terms of any applicable Lien Waiver Agreement. Each Subject to the other provisions of this Agreement regarding Borrowers’ maintenance of Collateral, each Borrower shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may directdirect in its Permitted Discretion. All Subject to Section 16.9, all of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 2 contracts

Samples: Security Agreement, Security Agreement (Emerge Energy Services LP)

Preservation of Collateral. Following the occurrence of a Default or Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Borrower’s owned or leased property. Each Borrower shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 2 contracts

Samples: Revolving Credit and Security Agreement (Image Entertainment Inc), Security Agreement (Integrated Biopharma Inc)

Preservation of Collateral. Following the occurrence of a Default or an Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: Agent (acting at the direction of the Required Lenders): (a) may at any time take such steps as Agent deems or the Required Lenders deem necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent or the Required Lenders may deem appropriate; (b) subject to the rights of the applicable landlords, may employ and maintain at any of any BorrowerLoan Party’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) subject to the rights of the applicable lessors, may use any BorrowerLoan Party’s owned or leased lifts, hoists, trucks and other facilities or equipment Equipment for handling or removing the Collateral; and (e) subject to the rights of the applicable landlords, shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowersthe Loan Parties’ owned or leased property; and (f) pay or discharge taxes and Liens levied or placed on or threatened against the Collateral, effect any repairs or purchase any insurance called for by the terms of this Agreement or the Other Documents and pay all or any part of the premiums therefor and the costs thereof. Each Borrower Loan Party shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may directdirect (acting at the direction of the Required Lenders). All of Agent’s and Xxxxxxx’ expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged at the sole expense of the Borrowers and payable by the Borrowers to Borrowers’ Account Agent or Lenders, as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligationscase may be, for its or their benefit not later than ten (10) Business Days after written demand.

Appears in 2 contracts

Samples: Term Loan Credit and Security Agreement (Quantum Corp /De/), Term Loan Credit and Security Agreement (Quantum Corp /De/)

Preservation of Collateral. Following the occurrence of a Default or Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any BorrowerLoan Party’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any BorrowerLoan Party’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of BorrowersLoan Parties’ owned or leased property. Each Borrower Loan Party shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to the Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 2 contracts

Samples: Security Agreement (PHI Group, Inc./De), Security Agreement (PHI Group, Inc./De)

Preservation of Collateral. Following the occurrence of a Default or Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed [PHI Group] Revolving Credit, Term Loan and Security Agreement over and through any of Borrowers’ owned or leased property. Each Borrower shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 2 contracts

Samples: Loan and Security Agreement (PHI Group, Inc./De), Loan and Security Agreement (PHI Group, Inc./De)

Preservation of Collateral. Following the occurrence of a Default or Event of Default, in In addition to the rights and remedies set forth in Section 11.1 hereofhereof but subject to the limitations therein, including, without limitation, providing ten (10) days prior written notice to the Borrower, Agent: (a) may at any time take such reasonable steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, Collateral including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s or any of its Subsidiaries’ premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s or any of its Subsidiaries’ owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of BorrowersBorrower’s or any of its Subsidiaries’ owned or leased property. Each Borrower and each of its Subsidiaries shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s reasonable expenses of preserving the Collateral, including any reasonable expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Borrower’s Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 2 contracts

Samples: Credit and Security Agreement (Pc Connection Inc), Credit and Security Agreement (Pc Connection Inc)

Preservation of Collateral. Following the occurrence and during the continuance of a Default or an Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof11.01, Agent: (a) may at any time take such steps as Agent deems necessary or appropriate to protect Agent’s interest Lien in and to preserve the Collateral, including including, without limitation, the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any BorrowerLoan Party’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any BorrowerLoan Party’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Loan Party’s owned or leased property; and (f) shall have a non-exclusive, royalty-free, license to use each Loan Party’s Intellectual Property for the purposes of the completion, processing and sale of such Loan Party’s Inventory and other assets. Each Borrower At such time, each Loan Party shall cooperate fully with all of Agent’s commercially reasonable efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may directdirect in connection therewith. All of Agent’s expenses (including fees, disbursements and expenses of counsel) of preserving the Collateral, including including, without limitation, any expenses relating to any actions by Agent described in this Section 4.03, may, at the bonding election of a custodianthe Agent, shall be charged to Borrowers’ the Borrower’s Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 2 contracts

Samples: Loan and Security Agreement (Forbes Energy Services Ltd.), Loan and Security Agreement (Forbes Energy Services Ltd.)

Preservation of Collateral. Following the occurrence of a Default or an Event of Default, Default in addition to the rights and remedies set forth in Section 11.1 Article 9 hereof, AgentLender: (a) may at any time take such steps as Agent Lender deems necessary to protect AgentLender’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent Lender may deem appropriate; (b) may employ and maintain at any of any Borrowera U.S. Loan Party’s premises a custodian who shall have full authority to do all acts necessary to protect AgentLender’s interests in the Collateral; (c) may lease warehouse facilities to which Agent Lender may move all or part of the Collateral; (d) may use any Borrowera U.S. Loan Party’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ a U.S. Loan Party’s owned or leased property. Each Borrower U.S. Loan Party shall cooperate fully with all of AgentLender’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent Lender may direct. All of AgentLender’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 2 contracts

Samples: Loan and Security Agreement (Orthopediatrics Corp), Loan and Security Agreement (Orthopediatrics Corp)

Preservation of Collateral. Following the occurrence of a Default or Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any BorrowerLoan Party’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any BorrowerLoan Party’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ any Loan Party’s owned or leased property. Each Borrower Loan Party shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Borrower's Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 2 contracts

Samples: Security Agreement (TCP International Holdings Ltd.), Security Agreement (TCP International Holdings Ltd.)

Preservation of Collateral. Following the occurrence of a Default or Event of DefaultDefault and the demand by Agent for payment of all Obligations due and owing, in addition to the rights and remedies set forth in Section 11.1 4.2 and Section 12.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any BorrowerLoan Party’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any BorrowerLoan Party’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Loan Party’s owned or leased propertyproperty to obtain such Collateral. Each Borrower Loan Party shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to BorrowersLoan Parties’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 2 contracts

Samples: Credit and Security Agreement (Manhattan Bridge Capital, Inc), Credit and Security Agreement (Sachem Capital Corp.)

Preservation of Collateral. Following the occurrence of a Default or Event of Default, in addition to the rights and remedies set forth in Section 11.1 8.2 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s 's interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s 's premises a custodian who shall have full authority to do all acts necessary to protect Agent’s 's interests in the Collateral; and (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby grantedgranted (to the same extent as the Borrower), a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Borrower's owned or leased property. Each Borrower shall cooperate fully with all of Agent’s 's efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s 's actual expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account Borrower's account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Credit Obligations.

Appears in 2 contracts

Samples: Credit Agreement (Kendle International Inc), Credit Agreement (Kendle International Inc)

Preservation of Collateral. Following the occurrence of a Default or Event of Default, in In addition to the rights and remedies set -------------------------- forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s 's security interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s 's premises a custodian who shall have full authority to do all acts necessary to protect Agent’s 's security interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s 's owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Borrower's owned or leased property. Each Borrower shall cooperate fully with all of Agent’s 's efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s 's expenses of preserving the Collateral, including any costs, fees and expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account Borrower's account as a Revolving Advance maintained as a Advance, shall bear interest at the Revolving Interest Rate applicable to Domestic Rate Loan Loans and shall be added to the Obligations. Agent shall, at Borrower's request from time to time, provide to Borrower documentation substantiating any costs, fees and expenses charged to Borrower's account under this Section 4.4.

Appears in 2 contracts

Samples: Security Agreement (Delta Mills Inc), Security Agreement (Delta Woodside Industries Inc /Sc/)

Preservation of Collateral. Following the occurrence of a Default or an Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any BorrowerLoan Party’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any BorrowerLoan Party’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of BorrowersLoan Parties’ owned or leased property. Each Borrower Loan Party shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the ObligationsObligations as provided for in Section 2.23; provided that, promptly following any such demand and/or charge (and in no event later than the next delivery of the statement of account provided for in Section 2.10 hereof), Agent shall provide Borrowers with a reasonable description of such charges, expenses and fees so demanded and/or charged.

Appears in 2 contracts

Samples: Guaranty and Security Agreement (Dasan Zhone Solutions Inc), Guaranty and Security Agreement (Dasan Zhone Solutions Inc)

Preservation of Collateral. Following the occurrence of a Default or Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) subject to the rights of the applicable landlords, may employ and maintain at any of any BorrowerLoan Party’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) subject to the rights of the applicable lessors, may use any BorrowerLoan Party’s owned or leased lifts, hoists, trucks and other facilities or equipment Equipment for handling or removing the Collateral; and (e) subject to the rights of the applicable landlords, shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowersthe Loan Parties’ owned or leased property. Each Borrower Loan Party shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged at the sole expense of the Borrowers and payable by the Borrowers to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan Agent for its benefit and added to for the Obligationsratable benefit of Lenders not later than ten (10) Business Days after written demand.

Appears in 2 contracts

Samples: Term Loan Credit and Security Agreement (Quantum Corp /De/), Assignment Agreement (Quantum Corp /De/)

Preservation of Collateral. Following the occurrence of a Default or Event of Default, Default in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ owned or leased property. Each Borrower shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 2 contracts

Samples: Security Agreement (Fairchild Corp), Security Agreement (Fairchild Corp)

Preservation of Collateral. Following the occurrence of a Default or Event of Default, in In addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as , to the extent the Agent deems it reasonably necessary to protect the Agent’s 's interest in and to preserve the Collateral, including the hiring : (a) may hire of such security guards or the placing of place other security protection measures as Agent may deem reasonably appropriate; (b) may employ and maintain at any of any Borrower’s Obligor's premises a custodian who shall have full authority to do all acts necessary to protect Agent’s 's interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s Obligor's owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Obligor's owned or leased property. Each Borrower Obligor shall cooperate fully with all of Agent’s 's efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may reasonably direct. All of Agent’s 's expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Obligor's Account as a Revolving Advance maintained as of a Domestic Rate Loan and added to the Obligations.

Appears in 2 contracts

Samples: Loan and Security Agreement (Philipp Brothers Chemicals Inc), Philipp Brothers Chemicals Inc

Preservation of Collateral. Following the occurrence and during the continuation of a Default or an Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ owned or leased property. Each Borrower shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 2 contracts

Samples: Security Agreement (Aventine Renewable Energy Holdings Inc), Security Agreement (Aventine Renewable Energy Holdings Inc)

Preservation of Collateral. Following the occurrence of a Default or Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof, Administrative Agent: (a) may at any time take such steps as any Agent deems necessary to protect Administrative Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as any Agent may deem appropriate; (b) may employ and maintain at any of any BorrowerLoan Party’s premises a custodian who shall have full authority to do all acts necessary to protect Administrative Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Administrative Agent may move all or part of the Collateral; (d) may use any BorrowerLoan Party’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of BorrowersLoan Parties’ owned or leased property. Each Borrower Loan Party shall cooperate fully with all of Administrative Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Administrative Agent may direct. All of Administrative Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 2 contracts

Samples: Security Agreement (A.S.V., LLC), Security Agreement (Manitex International, Inc.)

Preservation of Collateral. Following the occurrence and during the continuance of a Default or Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof11.1, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any BorrowerCredit Party’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any BorrowerCredit Party’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Credit Party’s owned or leased property. Each Borrower Credit Party shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s reasonable and documented out of pocket expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 2 contracts

Samples: Security Agreement (Virco MFG Corporation), Revolving Credit and Security Agreement (Virco MFG Corporation)

Preservation of Collateral. Following the occurrence of a Default or Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s 's interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s 's premises a custodian who shall have full authority to do all acts necessary to protect Agent’s 's interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s 's owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Borrower's owned or leased property. Each Borrower shall cooperate fully with all of Agent’s 's efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s 's expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers' Account as a Revolving Advance maintained as of a Domestic Rate Loan and added to the Obligations.

Appears in 2 contracts

Samples: Security Agreement (Bentley Systems Inc), Security Agreement (Semx Corp)

Preservation of Collateral. Following the occurrence and during the continuation of a Default or an Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof11.1, Agent: (a) the Agent may at any time take such steps as the Agent deems necessary to protect the Agent’s interest in and to preserve the Collateral, including including: (a) the hiring of such security guards or the placing of other security protection measures as the Agent may deem appropriate; (b) may employ appropriate and maintain the employing and maintaining at any of any BorrowerObligor’s premises a custodian who shall have full authority to do all acts necessary to protect the Agent’s interests in the Collateral; , (cb) may lease leasing warehouse facilities to which the Agent may move all or part of the Collateral; , and (dc) may use using any Borrowerof each Obligor’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) . The Agent shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ each Obligor’s owned or leased property. Each Borrower Obligor shall cooperate fully with all of the Agent’s efforts to preserve the Collateral as permitted in the foregoing sentence and will take such actions to preserve the Collateral as the Agent may direct. All of the Agent’s expenses of preserving the CollateralCollateral in accordance with the foregoing, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ the Loan Account as a Revolving Advance maintained as a Domestic of an Alternate Base Rate Loan and added to the Obligations.

Appears in 2 contracts

Samples: Credit and Security Agreement (Stoneridge Inc), Credit and Security Agreement (Stoneridge Inc)

Preservation of Collateral. Following the occurrence and during the continuance of a Default or an Event of DefaultDefault and the demand by Agent for payment of all Obligations due and owing, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriatenecessary; (b) may employ and maintain at any of any BorrowerBorrowing Base Party’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any BorrowerBorrowing Base Party’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ any Borrowing Base Party’s owned or leased propertyproperty (subject to the terms of the applicable lease and the rights of the parties thereunder), in each case, in accordance with, and subject to the other terms of, this Article IV. Each Borrower shall, and shall cause each Borrowing Base Party to, cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Borrower’s Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 2 contracts

Samples: Joinder Agreement (Boot Barn Holdings, Inc.), Joinder Agreement (Boot Barn Holdings, Inc.)

Preservation of Collateral. Following the occurrence of a Default or Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s 's interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s 's premises a custodian who shall have full authority to do all acts necessary to protect Agent’s 's interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any of Borrower’s 's owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Borrower's owned or leased property. Each Borrower shall cooperate fully with all of Agent’s 's efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s 's expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Borrower's Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 2 contracts

Samples: Security Agreement (Fonda Group Inc), Security Agreement (Fonda Group Inc)

Preservation of Collateral. Following the occurrence of a Default or Event of DefaultDefault and the demand by Lender for payment of all Obligations due and owing, in addition to the rights and remedies set forth in Section 11.1 12.1 hereof, AgentLender: (a) may at any time take such steps as Agent Lender deems necessary to protect Agent’s Lender's interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent Lender may deem appropriate; (b) may employ and maintain at any of any Borrower’s 's premises a custodian who shall have full authority to do all acts necessary to protect Agent’s Lender's interests in the Collateral; (c) may lease warehouse facilities to which Agent Lender may move all or part of the Collateral; (d) may use any Borrower’s 's owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Borrower's owned or leased propertyproperty to obtain such Collateral. Each Borrower shall cooperate fully with all of Agent’s Lender's efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent Lender may in its Credit Judgment, direct. All of Agent’s expenses Lender's expenses, to the extent incurred in its Credit Judgment, of preserving the Collateral, including any such expenses relating to the bonding of a custodian, shall be charged to Borrowers' Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 2 contracts

Samples: Credit and Security Agreement (Omni Energy Services Corp), Credit and Security Agreement (Omni Energy Services Corp)

Preservation of Collateral. Following the occurrence of a Default or Event of Default, in In addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems reasonably necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Borrower’s owned or leased property. Each Borrower shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may reasonably direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 2 contracts

Samples: Credit and Security Agreement (Akrion, Inc.), Credit and Security Agreement (Akrion, Inc.)

Preservation of Collateral. Following the occurrence of At any time when a Default or Event of DefaultDefault has occurred and is continuing, in addition to the rights and remedies set forth in Section 11.1 hereofthe Purchase Agreement (but subject to the Senior Subordination Agreement), the Agent: (a) may at any time take such steps as the Agent deems necessary to protect the Agent’s 's and the Purchasers' interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as the Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s the Corporations' premises a custodian who shall have full authority to do all acts necessary to protect the Agent’s 's and the Purchasers' interests in the Collateral; (c) may lease warehouse facilities to which the Agent may move all or part of the Collateral; (d) may use any Borrower’s the Corporations' owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ the Corporations' owned or leased property, except as otherwise disclosed on Schedule C-2.4. Each Borrower Subject to the Senior Lender's prior rights under the penultimate sentence of Section 4.4 of the Senior Loan Agreement, the Corporations shall cooperate fully with all of the Agent’s 's efforts to preserve the Collateral and will take such actions to preserve the Collateral as the Agent may direct. All of the Agent’s 's and the Purchasers' expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan the Company and added to the Obligations.

Appears in 1 contract

Samples: Warrant Agreement (Us Home & Garden Inc)

Preservation of Collateral. Following the occurrence and during -------------------------- the continuance of a Default or an Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s 's and Lenders' interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s 's premises a custodian who shall have full authority to do all acts necessary to protect Agent’s 's and Lenders' interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s 's owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Borrower's owned or leased property. Each Borrower and General Partner shall cooperate fully with all of Agent’s 's efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s 's expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to the Borrowers’ Account ' accounts as a Revolving Advance maintained in such manner as a Domestic Rate Loan Agent deems appropriate and added to the Obligations.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Styrochem International LTD)

Preservation of Collateral. Following the occurrence and during the continuance of a Default or an Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ owned or leased property. Each Borrower shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may directdeem necessary or appropriate in its reasonable judgment to preserve the Collateral. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 1 contract

Samples: Term Loan Credit and Security Agreement (EVINE Live Inc.)

Preservation of Collateral. Following the occurrence of a Default or Event of Default, in In addition to the rights and remedies set forth in Section 11.1 hereof11.1, after the occurrence and during the continuance of an Event of Default (but without limiting the rights of Agent and Lenders under Section 4.10) Agent: (a) may at any time take such steps as Agent deems in good xxxxx xxxxx necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrowereach Loan Party’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any BorrowerLoan Party’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Loan Party’s owned or leased property. Each Borrower Loan Parties shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Borrower’s Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 1 contract

Samples: Financing Agreement (Verrazano,inc.)

Preservation of Collateral. Following During the occurrence continuance of a Default or an Event of Default, Default in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s 's interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s 's premises a custodian who shall have full authority to do all acts necessary to protect Agent’s 's interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s 's owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Borrower's owned or leased property. Each Borrower shall cooperate fully with all of Agent’s 's efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s 's reasonable expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Borrower's Account as a Revolving Advance maintained as of a Domestic Rate Loan and added to the Obligations.

Appears in 1 contract

Samples: Revolving Credit, Equipment Loan and Security Agreement (McMS Inc)

Preservation of Collateral. Following the occurrence of a Default or Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof11.1, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest Lien in and to preserve the Collateral, including including, without limitation, the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any BorrowerLoan Party’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any BorrowerLoan Party’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Loan Party’s owned or leased property; and (f) shall have a non-exclusive, royalty-free, license to use each Loan Party’s Intellectual Property for the purposes of the completion, processing and sale of such Loan Party’s Inventory and other assets. Each Borrower Loan Party shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including including, without limitation, any expenses relating to any actions by Agent described in this Section 4.4, may, at the bonding election of a custodianthe Agent, shall be charged to Borrowers’ Borrower’s Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 1 contract

Samples: Loan and Security Agreement (Winnebago Industries Inc)

Preservation of Collateral. Following the occurrence of a Default or Event of Default, Default in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Borrower’s owned or leased property. Each Borrower shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as of a Domestic Rate Loan and added to the Obligations.

Appears in 1 contract

Samples: Security Agreement (Bio Reference Laboratories Inc)

Preservation of Collateral. Following the occurrence and during the continuance of a Default or Event of Default, Default in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any BorrowerLoan Party’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any BorrowerLoan Party’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ any Loan Party’s owned or leased property. Each Borrower Loan Party shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 1 contract

Samples: Security Agreement (Dri Corp)

Preservation of Collateral. Following the occurrence of a Default or Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any each Borrower’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ each Borrower’s owned or leased property. Each Borrower Borrowers shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 1 contract

Samples: Security Agreement (Dreams Inc)

Preservation of Collateral. Following the occurrence of a Default or an Event of Default, and provided Agent elects to exercise its remedies under this Agreement, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (dc) may use any Borrower’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (ed) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Borrower’s owned or leased property. Each Borrower shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Borrower’s Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 1 contract

Samples: Security Agreement (Apac Customer Service Inc)

Preservation of Collateral. Following the occurrence of a Default or Event of Default, in In addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary in its Permitted Discretion to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Borrower’s owned or leased property. Each Borrower shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Borrower’s Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Johnson Outdoors Inc)

Preservation of Collateral. Following the occurrence of a Default or Event of Default, in In addition to the rights and remedies set forth in Section 11.1 hereof, upon the occurrence and during the continuance of an Event of Default, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any BorrowerGrantor’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any BorrowerGrantor’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ any Grantor’s owned or leased property. Each Borrower Grantor shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Borrower’s Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Horsehead Holding Corp)

Preservation of Collateral. Following the occurrence of a Default or At any time an Event of DefaultDefault has occurred and is continuing, in addition to the rights and remedies set forth in Section 11.1 10.1 hereof, Agent, in its Permitted Discretion: (a) may at any time take such steps as Agent deems necessary to protect Agent’s 's interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s 's premises a custodian who shall have full authority to do all acts necessary to protect Agent’s 's interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s 's owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Borrower's owned or leased property. Each Borrower shall cooperate fully with all of Agent’s 's reasonable efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may directdirect in its Permitted Discretion. All of Agent’s 's expenses of preserving the CollateralCollateral during the continuation of an Event of Default, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ the Loan Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 1 contract

Samples: Loan and Security Agreement (Banyan Acquisition Corp)

Preservation of Collateral. Following the occurrence of a Default or Event of Default, in In addition to the rights and remedies set forth in Section 11.1 hereof, Agentthe Lender: (a) may at any time take such steps as Agent the Lender deems necessary to protect Agent’s the Lender's interest in and to preserve the Collateral, including after the occurrence of an Event of Default and during its continuance, the hiring of such security guards or for the placing of other such security protection measures as Agent the Lender may deem appropriate; (b) may employ and maintain at any of any Borrower’s the Borrowers' premises a custodian who shall have full authority to do all acts necessary in Lender's good faith judgment to protect Agent’s the Lender's interests in the Collateral; (c) after the occurrence of an Event of Default and during its continuance, may lease warehouse facilities to which Agent the Lender may move all or part of the Collateral; (d) after the occurrence of an Event of Default and during its continuance, may use any Borrower’s of the Borrowers' owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of the Borrowers' owned or leased property. Each Borrower The Borrowers shall cooperate fully with all of Agent’s the Lender's efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent the Lender may direct. All of Agent’s the Lender's expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to the Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan ' account and added to the Obligations.

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Security Agreement (Tii Industries Inc)

Preservation of Collateral. Following the occurrence of a Default or Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof, Administrative Agent: (a) may at any time take such steps as Administrative Agent deems necessary to protect Administrative Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Administrative Agent may deem appropriate; (b) may employ and maintain at any of any BorrowerLoan Party’s premises a custodian who shall have full authority to do all acts necessary to protect Administrative Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Administrative Agent may move all or part of the Collateral; (d) may use any BorrowerLoan Party’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of BorrowersLoan Parties’ owned or leased property. Each Borrower Loan Party shall cooperate fully with all of Administrative Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Administrative Agent may direct. All of Administrative Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations. Ownership and Location of Collateral. With respect to the Collateral, at the time the Collateral becomes subject to Administrative Agent’s security interest: (i) each Loan Party shall be the sole owner of and fully authorized and able to sell, transfer, pledge and/or grant a first priority security interest in each and every item of its respective Collateral to Administrative Agent; and, except for Permitted Encumbrances the Collateral shall be free and clear of all Liens whatsoever; (ii) each document and agreement executed by each Loan Party or delivered to Administrative Agent or any Lender in connection with this Agreement shall be true and correct in all respects; (iii) all signatures and endorsements of each Loan Party that appear on such documents and agreements shall be genuine and each Loan Party shall have full capacity to execute same; and (iv) each Loan Party’s equipment and Inventory shall be located as set forth on Schedule 4.4, as such Schedule may be updated from time to time, and shall not be removed from such location(s) without the prior written consent of Administrative Agent except with respect to the sale of Inventory in the Ordinary Course of Business and equipment to the extent permitted in Section 7.1(b) hereof.

Appears in 1 contract

Samples: Security Agreement (Asv Holdings, Inc.)

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Preservation of Collateral. Following the occurrence and during the continuance of a Default or an Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ owned or leased property. Each Borrower shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may directdeem necessary or appropriate in its reasonable judgment to preserve the Collateral. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 1 contract

Samples: Security Agreement (Valuevision Media Inc)

Preservation of Collateral. Following the occurrence of a Default or Event of Default, Default in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s Borrowers’ owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ owned or leased property. Each Borrower shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 1 contract

Samples: Security Agreement (NYTEX Energy Holdings, Inc.)

Preservation of Collateral. Following During the occurrence continuance of a Default or an Event of Default, Default in addition to the rights and remedies set forth in Section 11.1 hereof, the Administrative Agent: (a) may at any time take such steps as the Administrative Agent deems necessary to protect the Administrative Agent’s 's interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as the Administrative Agent may deem appropriate; (b) may employ and maintain at any of the Borrower's or any Borrower’s Guarantor's premises a custodian who shall have full authority to do all acts necessary to protect the Administrative Agent’s 's interests in the Collateral; (c) may lease warehouse facilities to which the Administrative Agent may move all or part of the Collateral; (d) may use the Borrower's or any Borrower’s Guarantor's owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ the Borrower's or any Guarantor's owned or leased property. Each The Borrower and each Guarantor shall cooperate fully with all of the Administrative Agent’s 's efforts to preserve the Collateral and will take such actions to preserve the Collateral as the Administrative Agent may direct. All of the Administrative Agent’s 's reasonable expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ the Borrower's PNC Account as a Revolving Advance maintained as of a Domestic Rate Loan and added to the Obligations.

Appears in 1 contract

Samples: And Security Agreement (McMS Inc /De/)

Preservation of Collateral. Following the occurrence or continuance of a Default or an Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof11.1, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; and (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Borrower’s owned or leased property. Each Borrower shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Borrower’s Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the ObligationsObligations and Borrower shall be deemed to have requested such Revolving Advance and Revolving Credit Lenders shall be unconditionally obligated to fund their respective Ratable Shares of each such Revolving Advance regardless of whether the conditions under Section 8.2 hereof have been satisfied at such time.

Appears in 1 contract

Samples: Security Agreement (Absolute Life Solutions, Inc.)

Preservation of Collateral. Following the occurrence and during the continuance of a Default or Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ owned or leased property. Each Borrower shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations, and such charge shall be deemed authorized by Borrowers and Lenders shall be obliged to fund their respective Revolving Commitment Percentages of the same regardless of whether any of the conditions under Sections 8.2 or 2.2 shall not be satisfied at such time or whether the revolving credit commitments of the Lenders hereunder shall have otherwise been terminated at such time.

Appears in 1 contract

Samples: Security Agreement (UniTek Global Services, Inc.)

Preservation of Collateral. Following the occurrence of a Default or Event of DefaultDefault and the demand by Agent for payment of all Obligations due and owing, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s 's interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s 's premises a custodian who shall have full authority to do all acts necessary to protect Agent’s 's interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s 's owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Borrower's owned or leased property. Each Borrower shall cooperate fully with all of Agent’s 's efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s 's expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Borrower's Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 1 contract

Samples: Subordination Agreement (Obsidian Enterprises Inc)

Preservation of Collateral. Following During the occurrence continuance of a Default or an Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the US Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any BorrowerUS Loan Party’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the US Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the US Collateral; (d) may use any BorrowerUS Loan Party’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the US Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the US Collateral is located, and may proceed over and through any of BorrowersUS Loan Parties’ owned or leased property. Each Borrower US Loan Party shall cooperate fully with all of Agent’s efforts to preserve the US Collateral and will take such actions to preserve the US Collateral as Agent may direct. All of Agent’s expenses of preserving the US Collateral, including any expenses relating to the bonding of a custodian, shall be charged to the Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 1 contract

Samples: Credit and Security Agreement (Invacare Corp)

Preservation of Collateral. Following the occurrence of a an Incipient Event of Default or Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof, Agentthe Lender: (a) may at any time take such steps as Agent the Lender deems necessary to protect Agent’s the Lender's interest in and to preserve the Collateral, including the hiring of such security guards or for the placing of other such security protection measures as Agent the Lender may deem appropriate; (b) may employ and maintain at any of any the Borrower’s 's premises a custodian who shall have full authority to do all acts necessary to protect Agent’s the Lender's interests in the Collateral; (c) may lease warehouse facilities to which Agent the Lender may move all or part of the Collateral; (d) may use any of the Borrower’s 's owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ the Borrower's owned or leased property. Each The Borrower shall cooperate fully with all of Agent’s the Lender's efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent the Lender may direct. All of Agent’s the Lender's expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan the Borrower's account and added to the Obligations.

Appears in 1 contract

Samples: Tristar Corp

Preservation of Collateral. Following the occurrence of a Default or an Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any BorrowerLoan Party’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any BorrowerLoan Party’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of BorrowersLoan Parties’ owned or leased property. Each Borrower During an Event of Default, each Loan Party shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations. 4.4.

Appears in 1 contract

Samples: Guaranty and Security Agreement (Babcock & Wilcox Enterprises, Inc.)

Preservation of Collateral. Following the occurrence of a Default or an Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any BorrowerLoan Party’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any BorrowerLoan Party’s owned or leased lifts, hoists, trucks and other facilities or equipment Equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Real Property owned or leased propertyby any Loan Party. Each Borrower Loan Party shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 1 contract

Samples: Security Agreement (AutoWeb, Inc.)

Preservation of Collateral. Following the occurrence of a Default or Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Borrower’s owned or leased property. Each Borrower shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 1 contract

Samples: Security Agreement (Kitty Hawk Inc)

Preservation of Collateral. Following the occurrence of a Default or Event of Default, in In addition to the rights and remedies set forth in Section 11.1 hereof, upon the occurrence and during the continuance of an Event of Default, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s 's interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any the Borrower’s 's premises a custodian who shall have full authority to do all acts necessary to protect Agent’s 's interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any the Borrower’s 's owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ the Borrower's owned or leased property. Each The Borrower shall cooperate fully with all of Agent’s 's efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s 's expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Borrower's Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 1 contract

Samples: Security Agreement (Horsehead Holding Corp)

Preservation of Collateral. Following the occurrence and during the continuance of a Default or an Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof11.1, and subject to the terms of the Term Loan Intercreditor Agreement, Agent: (a) may at any time take such steps as Agent deems necessary or appropriate to protect Agent’s interest Lien in and to preserve the Collateral, including including, without limitation, the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any BorrowerLoan Party’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any BorrowerLoan Party’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Loan Party’s owned or leased property; and (f) shall have a non-exclusive, royalty-free, license to use each Loan Party’s Intellectual Property for the purposes of the completion, processing and sale of such Loan Party’s Inventory and other assets. Each Borrower At such time, each Loan Party shall cooperate fully with all of Agent’s commercially reasonable efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may directdirect in connection therewith. All of Agent’s expenses of preserving the Collateral, including including, without limitation, any expenses relating to any actions by Agent described in this Section 4.3, may, at the bonding election of a custodianthe Agent, shall be charged to the Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 1 contract

Samples: Loan and Security Agreement (Primo Water Corp)

Preservation of Collateral. Following the occurrence of a Default or an Event of Default, Default in addition to the rights and remedies set forth in Section 11.1 hereof, Agentthe Lender: (a) may at any time take such steps as Agent the Lender deems necessary to protect Agent’s the Lender's interest in and to preserve the Collateral, including the hiring of such security guards or for the placing of other such security protection measures as Agent the Lender may deem appropriate; (b) may employ and maintain at any of any Borrower’s the Borrowers' premises a custodian who shall have full authority to do all acts necessary to protect Agent’s the Lender's interests in the Collateral; (c) may lease warehouse facilities to which Agent the Lender may move all or part of the Collateral; (d) may use any Borrower’s of the Borrowers' owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ owned the Borrowers'owned or leased property. Each Borrower The Borrowers shall cooperate fully with all of Agent’s the Lender's efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent the Lender may direct. All of Agent’s the Lender's expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to the Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan ' account and added to the Obligations.

Appears in 1 contract

Samples: Credit and Security Agreement (Canisco Resources Inc)

Preservation of Collateral. Following the occurrence of a Default or Event of Default, Default that is continuing in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any BorrowerCredit Party’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any BorrowerCredit Party’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ any Credit Party’s owned or leased property. Each Borrower Credit Party shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Bxxxxxxx’s Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 1 contract

Samples: Security Agreement (Perma Fix Environmental Services Inc)

Preservation of Collateral. Following the occurrence of a Default -------------------------- or Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s 's interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s 's premises a custodian who shall have full authority to do all acts necessary to protect Agent’s 's interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s 's owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby grantedgranted (to the extent it is in a Borrower's power to grant), a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Borrower's owned or leased property. Each Borrower shall cooperate fully with all of Agent’s 's efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s 's expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers' Account as a Revolving Advance maintained as of a Domestic Rate Loan and added to the Obligations.

Appears in 1 contract

Samples: Air Methods Corp

Preservation of Collateral. Following the occurrence of At any time when a Default or Event of DefaultDefault has occurred and is continuing, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s 's interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s the Credit Parties' premises a custodian who shall have full authority to do all acts necessary to protect Agent’s 's interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s the Credit Parties' owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ the Credit Parties' owned or leased property, except as otherwise disclosed on Schedule 4.4. Each Borrower The Credit Parties shall cooperate fully with all of Agent’s 's efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s 's expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Borrower's Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 1 contract

Samples: Security Agreement (Us Home & Garden Inc)

Preservation of Collateral. Following Each Credit Party will safeguard and protect all Collateral for Agent’s and the occurrence of a Default or Event of Default, in other Secured Parties’ general account. In addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary in the exercise of its Permitted Discretion to protect Agent’s the Secured Parties’ interest in and to preserve the Collateral, including upon the occurrence and during the continuance of an Event of Default, the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) upon the occurrence and during the continuance of an Event of Default, may employ and maintain at any of any Borrowereach Credit Party’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) upon the occurrence and during the continuance of an Event of Default, may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) upon the occurrence and during the continuance of an Event of Default, may use any BorrowerCredit Party’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of BorrowersCredit Parties’ owned or leased property, subject to the rights of the landlords of any leased Real Property. Each Borrower Subject to the other provisions of this Agreement regarding Credit Parties’ maintenance of Collateral, each Credit Party shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may directdirect in its Permitted Discretion. All Subject to Section 16.9, all of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 1 contract

Samples: Credit and Security Agreement (Emerge Energy Services LP)

Preservation of Collateral. Following the occurrence and during the continuance of a Default or Event of Default, Default in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Borrower’s owned or leased property. Each Borrower shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 1 contract

Samples: Security Agreement (Hybrook Resources Corp.)

Preservation of Collateral. Following the occurrence of a Default or an Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s 's interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s 's premises a custodian who shall have full authority to do all acts necessary to protect Agent’s 's interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s 's owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Borrower's owned or leased property. Each Borrower shall cooperate fully with all of Agent’s 's efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s 's expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Borrower's Account as a Revolving Advance maintained as of a Domestic Rate Loan and added to the Obligations.

Appears in 1 contract

Samples: Credit, Term Loan and Security Agreement (Aaf McQuay Inc)

Preservation of Collateral. Following the occurrence of a Default or Event of DefaultDefault and the demand by Agent for payment of all Obligations due and owing, in addition to the rights and remedies set forth in Section 11.1 4.2 and Section 12.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any BorrowerLoan Party’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any BorrowerLoan Party’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Loan Party’s owned or leased propertyproperty to obtain such Collateral. Each Borrower Loan Party shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Loan PartiesBorrower’s Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 1 contract

Samples: Credit and Security Agreement (Manhattan Bridge Capital, Inc)

Preservation of Collateral. Following the occurrence demand by Agent for payment of a Default or Event of Defaultall Obligations due and owing in accordance with Section 11.1 hereof, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s 's interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s Credit Party's premises a custodian who shall have full authority to do all acts necessary to protect Agent’s 's interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s Credit Party's owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Credit Party's owned or leased property. Each Borrower Credit Party shall cooperate fully with all of Agent’s 's efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s 's expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers' Account as a Revolving Advance maintained as of a Domestic Rate Loan and added to the Obligations.

Appears in 1 contract

Samples: Security Agreement (Sunsource Inc)

Preservation of Collateral. Following the occurrence of a Default or Event of Default, in In addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary in its Permitted Discretion to protect Agent’s 's interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may may, if a Default or an Event of Default shall have occurred and be continuing, employ and maintain at any of any Borrower’s 's premises a custodian who shall have full authority to do all acts necessary to protect Agent’s 's interests in the Collateral; (c) may may, if a Default or an Event of Default shall have occurred and be continuing, lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may may, if a Default or an Event of Default shall have occurred and be continuing, use any Borrower’s 's owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Borrower's owned or leased property. Each Borrower shall cooperate fully with all of Agent’s 's efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may directdirect in its Permitted Discretion. All of Agent’s 's expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers' Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 1 contract

Samples: Security Agreement (Union Drilling Inc)

Preservation of Collateral. Following the occurrence of a Default or -------------------------- Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s 's interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s 's premises a custodian who shall have full authority to do all acts necessary to protect Agent’s 's interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s 's owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Borrower's owned or leased property. Each Borrower shall cooperate fully with all of Agent’s 's efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s 's expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers' Account as a Revolving Advance maintained as of a Domestic Rate Loan and added to the Obligations.

Appears in 1 contract

Samples: Air Methods Corp

Preservation of Collateral. Following the occurrence of a Default or Event of Default, in In addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Borrower’s owned or leased property. Each Borrower shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 1 contract

Samples: Security Agreement (Sparton Corp)

Preservation of Collateral. Following the occurrence of a Default or Event of DefaultDefault and the demand by Agent for payment of all Obligations due and owing, in addition to the rights and remedies set forth in Section 11.1 hereof11.1, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ owned or leased property. Each Borrower shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 1 contract

Samples: Loan and Security Agreement (Boomerang Systems, Inc.)

Preservation of Collateral. Following the occurrence and during the continuation of a Default or an Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof11.1, Agent: (a) the Agent may at any time take such steps as the Agent deems necessary to protect the Agent’s interest in and to preserve the Collateral, including including: (a) the hiring of such security guards or the placing of other security protection measures as the Agent may deem appropriate; (b) may employ appropriate and maintain the employing and maintaining at any of any BorrowerDomestic Obligor’s premises a custodian who shall have full authority to do all acts necessary to protect the Agent’s interests in the Collateral; , (cb) may lease leasing warehouse facilities to which the Agent may move all or part of the Collateral; , and (dc) may use using any Borrowerof each Domestic Obligor’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) . The Agent shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ each Domestic Obligor’s owned or leased property. Each Borrower Domestic Obligor shall cooperate fully with all of the Agent’s efforts to preserve the Collateral as permitted in the foregoing sentence and will take such actions to preserve the Collateral as the Agent may direct. All of the Agent’s expenses of preserving the CollateralCollateral in accordance with the foregoing, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ the Loan Account as a Revolving Advance maintained as a Domestic of an Alternate Base Rate Loan and added to the Obligations.

Appears in 1 contract

Samples: Credit and Security (Stoneridge Inc)

Preservation of Collateral. Following the occurrence and during the continuation of a Default or an Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s 's interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s 's premises a custodian who shall have full authority to do all acts necessary to protect Agent’s 's interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any of Borrower’s 's owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Borrower's owned or leased property. Each Borrower shall cooperate fully with all of Agent’s 's efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s 's expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account Borrower's account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 1 contract

Samples: Security Agreement (Allstate Financial Corp /Va/)

Preservation of Collateral. Following the occurrence and during the continuance of a Default or an Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any BorrowerLoan Party’s premises a custodian who shall have full authority to do all acts reasonably necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any BorrowerLoan Party’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowersthe Loan Parties’ owned or leased property. Each Borrower Loan Party shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may reasonably direct. All of Agent’s actual, reasonable expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 1 contract

Samples: Security Agreement (Keane Group, Inc.)

Preservation of Collateral. Following the occurrence of a Default or Event of Default, in In addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary reasonably requests to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Borrower’s owned or leased property. Each Borrower shall cooperate fully with all of Agent’s reasonable efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may reasonably direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 1 contract

Samples: Security Agreement (Intelligroup Inc)

Preservation of Collateral. Following the occurrence of a Default or Event of Default, in In addition to the rights and remedies set -------------------------- forth in Section 11.1 hereofhereof but subject to the limitations therein, including, without limitation, providing ten (10) days prior written notice to the Borrower, Agent: (a) may at any time take such reasonable steps as Agent deems necessary to protect Agent’s 's interest in and to preserve the Collateral, Collateral including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of Borrower's or any Borrower’s of its Subsidiaries' premises a custodian who shall have full authority to do all acts necessary to protect Agent’s 's interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use Borrower's or any Borrower’s of its Subsidiaries' owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Borrower's or any of its Subsidiaries' owned or leased property. Each Borrower and each of its Subsidiaries shall cooperate fully with all of Agent’s 's efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s 's reasonable expenses of preserving the Collateral, including any reasonable expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Borrower's Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 1 contract

Samples: Credit and Security Agreement (Pc Connection Inc)

Preservation of Collateral. Following the occurrence of a Default or Event of Default, in In addition to the rights and remedies set forth in Section 11.1 hereof, Agent, upon the occurrence of an Event of Default and during the continuation thereof: (a) may at any time take such steps as Agent reasonably deems necessary to protect Agent’s 's interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s 's premises a custodian who shall have full authority to do all acts necessary to protect Agent’s 's interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s 's owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Borrower's owned or leased property. Each Borrower shall cooperate fully with all of Agent’s 's reasonable efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may reasonably direct. All of Agent’s 's expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers' Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 1 contract

Samples: Revolving Credit (Graham Field Health Products Inc)

Preservation of Collateral. Following the occurrence of a Default or Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) subject to the rights of the applicable landlords, may employ and maintain at any of any BorrowerLoan Party’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) subject to the rights of the applicable lessors, may use any BorrowerLoan Party’s owned or leased lifts, hoists, trucks and other facilities or equipment Equipment for handling or removing the Collateral; and (e) subject to the rights of the applicable landlords, shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowersthe Loan Parties’ owned or leased property. Each Borrower Loan Party shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the ObligationsObligations or, at Agent’s option, shall be paid by the Borrowers to Agent for its benefit and for the ratable benefit of Lenders not later than ten (10) Business Days after written demand.

Appears in 1 contract

Samples: Security Agreement (Quantum Corp /De/)

Preservation of Collateral. Following the occurrence and during the continuance of a Default or an Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Borrower’s owned or leased property. Each Borrower shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s reasonable expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Secured Obligations.

Appears in 1 contract

Samples: Security Agreement (Hutchinson Technology Inc)

Preservation of Collateral. Following the occurrence of a Default or an Event of Default, in addition to the rights and remedies set forth in Section 11.1 Article IX hereof, Agentthe Lender: (a) may at any time take such steps as Agent the Lender deems necessary to protect Agent’s the Lender's interest in and to preserve the Collateral, including the hiring of such security guards or for the placing of other such security protection measures as Agent the Lender may deem appropriate; (b) may employ and maintain at any of any Borrower’s the Debtor's premises a custodian who shall have full authority to do all acts necessary to protect Agent’s the Lender's interests in the Collateral; (c) may lease warehouse facilities to which Agent the Lender may move all or part of the Collateral; (d) may use any Borrower’s of the Debtor's owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ the Debtor's owned or leased property. Each Borrower The Debtor shall cooperate fully with all of Agent’s the Lender's efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent the Lender may direct. All of Agent’s the Lender's expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan the Debtor's account and added to the Obligations.

Appears in 1 contract

Samples: Loan and Security Agreement (Cold Metal Products Inc)

Preservation of Collateral. Following the occurrence of a Default or an Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any BorrowerLoan Party’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any BorrowerLoan Party’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of BorrowersLoan Parties’ owned or leased property. Each Borrower During an Event of Default, each Loan Party shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged paid by Loan Parties to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan Agent for its benefit and added to for the Obligationsratable benefit of Cash Collateral Providers immediately upon demand.

Appears in 1 contract

Samples: And (Babcock & Wilcox Enterprises, Inc.)

Preservation of Collateral. Following the occurrence and during the continuance of a Default or Event of Default, Default and in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s 's interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s 's premises a custodian who shall have full authority to do all acts necessary to protect Agent’s 's interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s 's owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Borrower's owned or leased property. Each Borrower Borrowers shall cooperate fully with all of Agent’s 's efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may reasonably direct. All of Agent’s 's reasonable expenses of preserving the Collateral, including any reasonable expenses relating to the bonding of a custodian, shall be charged to Borrowers' Account as a Revolving Advance maintained as of a Domestic Rate Loan and added to the Obligations.

Appears in 1 contract

Samples: Security Agreement (HMG Worldwide Corp)

Preservation of Collateral. Following the occurrence of a Default or Event of Default, in In addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any Borrower’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) after the occurrence and during the continuation of a Default or an Event of Default, may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any Borrower’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowers’ Borrower’s owned or leased property. Each Borrower shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 1 contract

Samples: Security Agreement (Flotek Industries Inc/Cn/)

Preservation of Collateral. Following During the occurrence continuance of a Default or an Event of Default, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: (a) may at any time take such steps as Agent deems necessary to protect Agent’s interest in and to preserve the Collateral, including the hiring of such security guards or the placing of other security protection measures as Agent may deem appropriate; (b) may employ and maintain at any of any BorrowerCredit Party’s premises a custodian who shall have full authority to do all acts necessary to protect Agent’s interests in the Collateral; (c) may lease warehouse facilities to which Agent may move all or part of the Collateral; (d) may use any BorrowerCredit Party’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and (e) shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Borrowersthe Credit Parties’ owned or leased property. Each Borrower Credit Party shall cooperate fully with all of Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent’s expenses of preserving the CollateralCollateral under this Section 4.3, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers’ Account Account, as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Appears in 1 contract

Samples: Guaranty Agreement (ROC Energy Acquisition Corp.)

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