Realization upon Collateral Sample Clauses
Realization upon Collateral. During the continuance of an Event of Default, Administrative Agent, without notice or demand, but subject to any limitations or restrictions imposed by applicable Law, may exercise any Right of a secured party under the Uniform Commercial Code of Texas or any other applicable jurisdiction ("UCC"), this Agreement, any other Loan Papers, or otherwise and also may (i) require Pledgor to, and Pledgor hereby agrees that it will at its expense and upon request of Administrative Agent forthwith, assemble all or part of the Collateral as directed by Administrative Agent and make it available to Administrative Agent at a place to be designated by Administrative Agent which is reasonably convenient to both parties or (ii) without notice, except as specified below, sell the Collateral or any portion thereof in one or more parcels at public or private sale, at any of Administrative Agent's offices or elsewhere, for cash, on credit or for future delivery, and upon such other terms as Administrative Agent may deem commercially reasonable. Unless the Collateral is of a type customarily sold on a recognized market, Administrative Agent shall give Pledgor reasonable written notice of the time and place of any public sale thereof or of the time after which any private sale or other intended disposition thereof is to be made. Pledgor agrees that ten days advance written notice thereof shall constitute reasonable notice. Administrative Agent shall not be obligated to make any sale of Collateral, regardless of notice of sale having been given. Administrative Agent may adjourn any public or private sale from time to time by announcement at the time and place fixed therefor, and such sale may, without further notice, be made at the time and place to which it was so adjourned. Expenses of retaking, holding, preparing for sale, selling, or the like shall include Administrative Agent's reasonable attorneys' fees and legal expenses, and constitute a portion of the Obligations. During the continuance of an Event of Default, Administrative Agent shall be entitled to immediate possession of all books and records maintained by Pledgor with respect to the Collateral, and shall have the authority to enter upon any premises upon which any of the same may be situated and remove the same therefrom without liability. Upon disposition of Collateral during an Event of Default, Pledgor shall be entitled to any surplus with respect to the Collateral following payment in full of the Obligations a...
Realization upon Collateral. If the Debtor shall fail to perform any of its obligations under the Note when due (an "Event of Default"), the Secured Party shall have all of the rights of a secured party under the Uniform Commercial Code as in effect in the State of New Jersey (the "UCC"), including, without limitation, the right to sell the Collateral at public or private sale for cash or credit and on such terms as the Secured Party deems reasonable. The Secured Party shall apply the proceeds of any realization on the whole or any part of the Collateral after deducting all of its reasonable expenses and costs incurred in collection and realization (including, without limitation, reasonable counsel's fees and expenses) to the payment of the Debtor's obligations under the Note; the balance, if any, of such proceeds shall be paid to Debtor.
Realization upon Collateral. If an Event of Default hereunder shall have occurred and shall remain uncured past any cure period provided by Section 10.5, the Lender, or its agents, may do any or all of the following:
(a) sell, or cause the applicable Collateral Agent to sell, to the extent not prohibited by law, in a commercially reasonable manner, the Collateral and all right, title, interest, claim and demand therein, and right of redemption thereof, at one or more public or private sales, as an entirety or otherwise, and at such time and place and upon such terms as the Lender may fix and specify in the notice of sale to be given to the Borrower, or as may be required by law;
(b) take any action which is appropriate to enforce the rights and remedies of the Lender under any instrument included in the Collateral, to the extent not prohibited thereby or by law;
(c) take all other steps to protect and enforce the rights and remedies of the Lender whether by proceedings (for the specific performance of any provision of the Notes or this Agreement or any other Program Document, or in aid of the exercise of any right or remedy herein granted, or for any foreclosure hereunder or for the enforcement of any other appropriate legal or equitable remedy) or otherwise as the Lender shall deem most effectual to protect and enforce the same; or
(d) exercise all of the rights of a secured party under the UCC.
Realization upon Collateral. If the Debtor shall fail to perform any of its obligations under the Guaranty when due under the terms of the Guaranty (an "Event of Default"), the Secured Parties shall have all of the rights of a secured party under the Uniform Commercial Code as in effect in the State of New York, including, without limitation, the right to sell the Collateral at public or private sale for cash or credit and on such terms as the Secured Parties deem reasonable. The Secured Parties shall, subject to the terms of this Agreement and the Securities Purchase Agreement of even date herewith between the Secured Parties and Flour City International, Inc. (the "Purchase Agreement"), apply the proceeds of any realization on the whole or any part of the Collateral after deducting all of their reasonable expenses and costs incurred in collection and realization (including, without limitation, reasonable counsel's fees and expenses) to the payment of the Debtor's obligations to the Secured Parties under the Guaranty; the balance, if any, of such proceeds shall be paid to Debtor.
Realization upon Collateral. In the event an "event of default" shall occur under the terms of the Debentures (an "Event of Default"), the Secured Parties shall, subject to the terms of this Agreement and the Securities Purchase Agreement of even date herewith (the "Purchase Agreement"), have all of the rights of a secured party under the Uniform Commercial Code as in effect in the State of New York, including, without limitation, the right to sell the Collateral at public or private sale for cash or credit and on such terms as the Secured Parties deem reasonable. The Secured Parties shall apply the proceeds of any realization on the whole or any part of the Collateral after deducting all of their reasonable expenses and costs incurred in collection and realization (including, without limitation, reasonable counsel's fees and expenses) to the payment of the Debtor's obligations to the Secured Parties under the Debentures; the balance, if any, of such proceeds shall be paid to Debtor.