Common use of Realization Upon Default Clause in Contracts

Realization Upon Default. Whenever the Pledge has become enforceable, the Collateral Agent may at any time realize upon or otherwise dispose of the Debenture by sale, transfer and/or delivery and/or exercise and/or enforce any and all rights and remedies of a holder of the Debenture as if the Collateral Agent was the absolute owner thereof, without notice to or control by the Corporation (except as may be required by applicable Law) and any such remedy may be exercised separately or in combination and shall be in addition to and not in substitution for any rights the Collateral Agent may have, however created.