Receiver. In addition to any other remedy available to it, Bank shall have the absolute right, upon the occurrence of an Event of Default, to seek and obtain the appointment of a receiver to take possession of and operate and/or dispose of the business and assets of Borrower and any costs and expenses incurred by Bank in connection with such receivership shall bear interest at the Default Rate, at Bank’s option, and shall be secured by all Collateral.
Appears in 8 contracts
Samples: Credit and Security Agreement (Sancilio Pharmaceuticals Company, Inc.), Credit and Security Agreement (Sancilio Pharmaceuticals Company, Inc.), Loan and Security Agreement (Primo Water Corp)
Receiver. In addition to any other remedy available to it, the Bank shall have the absolute right, upon the occurrence of an Event of Default, to seek and obtain the appointment of a receiver to take possession of and operate and/or dispose of the business and assets of the Borrower and any costs and expenses incurred by the Bank in connection with such receivership shall bear interest at the Default Rate, at Bank’s option, Rate and shall be secured by all Collateral.
Appears in 5 contracts
Samples: And Security Agreement (Continucare Corp), Credit Agreement (Boca Research Inc), Revolving Credit and Security Agreement (Nstor Technologies Inc)
Receiver. In addition to any other remedy available to it, Bank shall have the absolute right, upon the occurrence of an Event of Default, to seek and obtain the appointment of a receiver to take possession of and operate and/or dispose of the business and assets of Borrower and any costs and expenses incurred by Bank in connection with such receivership shall bear interest at the Default Rate, at Bank’s option, and shall be secured by all Collateral.
Appears in 3 contracts
Samples: Non Revolving Credit and Security Agreement (Unilife Corp), Loan and Security Agreement (Video Display Corp), Credit Agreement (Sri Surgical Express Inc)
Receiver. In addition to any other remedy available to it, Bank shall have the absolute right, upon the occurrence of an Event of Default, to seek and obtain the appointment of a receiver to take possession of and operate and/or dispose of the business and assets of Borrower and any costs and expenses incurred by Bank in connection with such receivership shall bear interest at the Default Rate, at Bank’s 's option, and shall be secured by all Collateral.
Appears in 2 contracts
Samples: Loan Credit Agreement (Farrel Corp), Revolving Credit Agreement (Imrglobal Corp)
Receiver. In addition to any other remedy available to it, the Bank shall have the absolute right, upon the occurrence of an Event of Default, to seek and obtain the appointment of a receiver to take possession of and operate and/or dispose of the business and assets of Borrower the Obligors and any costs and expenses incurred by the Bank in connection with such receivership shall bear interest at the Default Rate, at Bank’s option, Rate and shall be secured by all Collateral.
Appears in 2 contracts
Samples: Term Loan and Security Agreement (Able Telcom Holding Corp), Credit and Security Agreement (Able Telcom Holding Corp)
Receiver. In addition to any other remedy available to it, Bank shall have the absolute right, upon the occurrence of an Event of DefaultDefault (after the expiration of Borrower's right to cure, if any), to seek and obtain the appointment of a receiver to take possession of and operate and/or dispose of the business and assets of Borrower and any costs and expenses incurred by Bank in connection with such receivership shall bear interest at the Default Rate, at Bank’s 's option, and shall be secured by all Collateral.
Appears in 2 contracts
Samples: Credit and Security Agreement (SFBC International Inc), Credit and Security Agreement (SFBC International Inc)
Receiver. In addition to any other remedy available to it, Bank shall have the absolute right, upon the occurrence of an Event of Default, to seek and obtain the appointment of a receiver to take possession of and operate and/or dispose of the business and assets of Borrower and each Guarantor and any reasonable costs and expenses incurred by Bank in connection with such receivership shall bear interest at the Default Rate, at Bank’s 's option, and shall be secured by all Collateral.
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Receiver. In addition to any other remedy available to it, Bank shall have the absolute right, upon the occurrence of an Event of Default, to seek and obtain the appointment of a receiver to take possession of and operate and/or dispose of the business and assets of Borrower Borrowers and any costs and expenses incurred by Bank in connection with such receivership shall bear interest at the Default Rate, at Bank’s option, and shall be secured by all Collateral.
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Receiver. In addition to any other remedy available to it, Bank shall have the absolute right, upon the occurrence of an Event of Default, to seek and obtain the appointment of a receiver to take possession of and operate and/or dispose of the business and assets of Borrower and any costs and expenses incurred by Bank in connection with such receivership shall bear interest at the Default Rate, at Bank’s 's option, and shall be secured by all Collateral.
Appears in 1 contract
Receiver. In addition to any other remedy available to it, Bank shall have the absolute right, upon the occurrence of an Event of Default, to seek and obtain the appointment of a receiver to take possession of and operate and/or dispose of the business and assets of Borrower any Obligor and any costs and expenses incurred by Bank in connection with such receivership shall bear interest at the Default Rate, at Bank’s option, and shall be secured by all Collateral.
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Receiver. In addition to any other remedy available to it, Bank shall have the absolute right, upon the occurrence of an Event of Default, to seek and obtain the appointment of a receiver to take possession of and operate and/or dispose of the business and assets of each Borrower and any costs and expenses incurred by Bank in connection with such receivership shall bear interest at the Default Rate, at Bank’s option, and shall be secured by all Collateral.
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Receiver. In addition to any other remedy available to it, Bank -------- shall have the absolute right, upon the occurrence of an Event of Default, to seek and obtain the appointment of a receiver to take possession of and operate and/or dispose of the business and assets of Borrower and any costs and expenses incurred by Bank in connection with such receivership shall bear interest at the Default Rate, at Bank’s 's option, and shall be secured by all Collateral.
Appears in 1 contract
Samples: Loan and Security Agreement (Bradley Pharmaceuticals Inc)
Receiver. In addition to any other remedy available to it, Bank shall have the absolute right, upon the occurrence of an Event of Default, to seek and obtain the appointment of a receiver to take possession of and operate and/or dispose of the business and assets of Borrower and any costs and expenses incurred by Bank in connection with such receivership shall bear interest at the Default Rate, at Bank’s option, 's option and shall be secured by all Collateral.
Appears in 1 contract
Samples: Credit and Security Agreement (Digital Lightwave Inc)
Receiver. In addition to any other remedy available to it, the Bank shall have the absolute right, upon the occurrence of an Event of Default, to seek and obtain the appointment of a receiver to take possession of and operate and/or dispose of the business and assets of the Borrower and any costs and expenses incurred by the Bank in connection with such receivership shall bear interest at the Default Rate, at Bank’s option, Rate and shall be secured by all Collateralcollateral.
Appears in 1 contract
Samples: Credit and Security Agreement (Prestige Cosmetics Corp)
Receiver. In addition to any other remedy available to it, Bank shall have the absolute right, upon the occurrence of an Event of Default, to seek and obtain the appointment of a receiver to take possession of and operate and/or dispose of the business and assets of any Borrower and any costs and expenses incurred by Bank in connection with such receivership shall bear interest at the Default Rate, at Bank’s 's option, and shall be secured by all Collateral.
Appears in 1 contract
Samples: Loan and Security Agreement (Proxymed Inc /Ft Lauderdale/)
Receiver. In addition to any other remedy available to it, if -------- an Event of Default shall occur and be continuing, Bank shall have the absolute right, upon the occurrence of an Event of Default, right to seek and obtain the appointment of a receiver to take possession of and operate and/or dispose of the business and assets of Borrower and any costs and expenses incurred by Bank in connection with such receivership shall bear interest at the Default Rate, at Bank’s option, Rate and shall be secured by all Collateral.
Appears in 1 contract
Samples: Credit and Security Agreement (Pra International Inc)
Receiver. In addition to any other remedy available to it, Bank shall have the absolute right, upon the occurrence and during the continuation of an Event of Default, to seek and obtain the appointment of a receiver to take possession of and operate and/or dispose of the business and assets of Borrower and any costs and expenses incurred by Bank in connection with such receivership shall bear interest at the Default Rate, at Bank’s 's option, and shall be secured by all Collateral.
Appears in 1 contract
Samples: Revolving Credit and Security Agreement (Intelligroup Inc)
Receiver. In addition to any other remedy available to it, Bank shall have the absolute right, upon the occurrence of an Event of Default, to seek and obtain the appointment of a receiver to take possession of and operate and/or dispose of the business and assets of Borrower Borrowers and any costs and expenses incurred by Bank in connection with such receivership shall bear interest at the Default Rate, at Bank’s 's option, and shall be secured by all Collateral.
Appears in 1 contract
