Common use of Remedial Provisions Clause in Contracts

Remedial Provisions. (a) Following the occurrence and during the continuance of an Event of Default, the Agent or its attorneys shall have the right without notice or demand or legal process (unless the same shall be required by applicable law), personally, or by an agent, (i) to enter upon, occupy and use any premises owned or leased by any Debtor or where the Collateral is located (or is believed to be located) until the Obligations are paid in full without any obligation to pay rent to any Debtor, to render the Collateral useable or saleable and to remove the Collateral or any part thereof to the premises of the Agent for such time as the Agent may desire in order to effectively collect or liquidate the Collateral and use in connection with such removal any and all services, supplies and other facilities of any Debtor; (ii) to take possession of any Debtor’s original books and records, to obtain access to any Debtor’s data processing equipment, computer hardware and Software relating to the Collateral and to use all of the foregoing and the information contained therein in any manner the Agent deems appropriate; and (iii) to notify postal authorities to change the address for delivery of each Debtor’s mail to an address designated by the Agent and to receive, open and dispose of all mail addressed to any Debtor. If any Debtor’s books and records are prepared or maintained by an accounting service, contractor or other third-party agent, such Debtor hereby irrevocably authorizes such service, contractor or other agent, upon notice by the Agent to such Person that an Event of Default has occurred and is continuing, to deliver to the Agent or its designees such books and records, and to follow the Agent’s instructions with respect to further services to be rendered.

Appears in 1 contract

Samples: Security Agreement (1847 Holdings LLC)

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Remedial Provisions. (a) Following Upon the occurrence and during the continuance of an Event of a Default, the Agent Lender or its attorneys shall have the right without notice or demand or legal process (unless the same shall be required by applicable law), personally, or by an agent, (i) to enter upon, occupy and use any premises owned or leased by any Debtor each Grantor or where the Collateral is located (or is believed to be located) until the Obligations are paid in full without any obligation to pay rent to any Debtorsuch Grantor, to render the Collateral useable or saleable and to remove the Collateral or any part thereof to the premises of the Agent Lender for such time as the Agent Lender may desire in order to effectively collect or liquidate the Collateral and use in connection with such removal any and all services, supplies and other facilities of any Debtorsuch Grantor; (ii) to take possession of any Debtor’s each Grantor's original books and records, to obtain access to any Debtor’s each Grantor's data processing equipment, computer hardware and Software relating to the Collateral and to use all of the foregoing and the information contained therein in any manner the Agent Lender deems appropriate; and (iii) to notify postal authorities to change the address for delivery of each Debtor’s Grantor's mail to an address designated by the Agent Lender and to receive, open and dispose of all mail addressed to any Debtoreach Grantor. If any Debtor’s of Grantor's books and records are prepared or maintained by an accounting service, contractor or other third-third party agent, such Debtor Grantor hereby irrevocably authorizes such service, contractor or other agent, upon notice by the Agent Lender to such Person that an Event of a Default has occurred and is continuing, to deliver to the Agent Lender or its designees such books and records, and to follow the Agent’s Lender's instructions with respect to further services to be rendered.

Appears in 1 contract

Samples: Security Agreement (Nord Resources Corp)

Remedial Provisions. (a) Following Upon the occurrence and during the continuance of an Event of Default, the Agent or its attorneys shall have the right without notice or demand or legal process (unless the same shall be required by applicable law), personally, or by an agent, (i) to enter upon, occupy and use any premises owned or leased by any the Debtor or where the Collateral is located (or is believed to be located) until the Obligations are paid in full without any obligation to pay rent to any the Debtor, to render the Collateral useable or saleable and to remove the Collateral or any part thereof to the premises of the Agent for such time as the Agent may desire in order to effectively collect or liquidate the Collateral and use in connection with such removal any and all services, supplies and other facilities of any the Debtor; (ii) to take possession of any the Debtor’s 's original books and records, to obtain access to any the Debtor’s 's data processing equipment, computer hardware and Software relating to the Collateral and to use all of the foregoing and the information contained therein in any manner the Agent deems appropriate; and (iii) to notify postal authorities to change the address for delivery of each the Debtor’s 's mail to an address designated by the Agent and to receive, open and dispose of all mail addressed to any the Debtor. If any the Debtor’s 's books and records are prepared or maintained by an accounting service, contractor or other third-third party agent, such the Debtor hereby irrevocably authorizes such service, contractor or other agent, upon notice by the Agent to such Person that an Event of Default has occurred and is continuing, to deliver to the Agent or its designees such books and records, and to follow the Agent’s 's instructions with respect to further services to be rendered.

Appears in 1 contract

Samples: Security Agreement (Playboy Enterprises Inc)

Remedial Provisions. (a) Following Upon the occurrence and during the continuance of an Event of Default, the Agent or its attorneys shall have the right without notice or demand or legal process (unless the same shall be required by applicable law), personally, or by an agent, (i) to enter upon, occupy and use any premises owned or leased by any Debtor or where the Collateral is located (or is believed to be located) until the Obligations are paid in full without any obligation to pay rent to any such Debtor, to render the Collateral useable or saleable and to remove the Collateral or any part thereof to the premises of the Agent for such time as the Agent may desire in order to effectively collect or liquidate the Collateral and use in connection with such removal any and all services, supplies and other facilities of any such Debtor; (ii) to take possession of any Debtor’s 's original books and records, to obtain access to any Debtor’s 's data processing equipment, computer hardware and Software relating to the Collateral and to use all of the foregoing and the information contained therein in any manner the Agent deems appropriate; and (iii) to notify postal authorities to change the address for delivery of each any Debtor’s 's mail to an address designated by the Agent and to receive, open and dispose of all mail addressed to any such Debtor. If any Debtor’s 's books and records are prepared or maintained by an accounting service, contractor or other third-third party agent, such Debtor hereby irrevocably authorizes such service, contractor or other agent, upon notice by the Agent to such Person that an Event of Default has occurred and is continuing, to deliver to the Agent or its designees such books and records, and to follow the Agent’s 's instructions with respect to further services to be rendered.

Appears in 1 contract

Samples: Security Agreement (Playboy Enterprises Inc)

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Remedial Provisions. (a) Following Upon the occurrence and during the continuance of an Event of Default, the Administrative Agent or its attorneys shall have the right without notice or demand or legal process (unless the same shall be required by applicable law), personally, or by an agent, (i) to enter upon, occupy and use any premises owned or leased by each and any Debtor or where the Collateral is located (or is believed to be located) until the Discharge of All Obligations are paid in full without any obligation to pay rent to any the applicable Debtor, to render the Collateral useable or saleable and to remove the Collateral or any part thereof to the premises of the Administrative Agent for such time as the Administrative Agent may desire in order to effectively collect or liquidate the Collateral and use in connection with such removal any and all services, supplies and other facilities of each and any Debtor; (ii) to take possession of each and any Debtor’s original books and records, to obtain access to each and any Debtor’s data processing equipment, computer hardware and Software relating to the Collateral and to use all of the foregoing and the information contained therein in any manner the Agent deems appropriatetherein; and (iii) to notify postal authorities to change the address for delivery of each Debtor’s mail to an address designated by the Administrative Agent and to receive, open and dispose of all mail addressed to any such Debtor. If any Debtor’s books and records are prepared or maintained by an accounting service, contractor or other third-third party agent, such Debtor hereby irrevocably authorizes (until the Discharge of All Obligations) such service, contractor or other agent, upon notice by the Administrative Agent to such Person and such Debtor that an Event of Default has occurred and is continuing, to deliver to the Administrative Agent or its designees such books and records, and to follow the Agent’s instructions with respect to further services to be rendered.

Appears in 1 contract

Samples: Security Agreement (RealD Inc.)

Remedial Provisions. (a) Following Upon the occurrence and during the continuance of an Event of Default, the Agent Secured Party or its attorneys shall have the right without notice or demand or legal process (unless the same shall be required by applicable law), personally, or by an agent, (i) to enter upon, occupy and use any premises owned or leased by any Debtor or where the Collateral is located (or is believed to be located) until the Obligations are paid in full this Agreement is terminated pursuant to Section 22 without any obligation to pay rent to any Debtor, to render the Collateral useable or saleable and to remove the Collateral or any part thereof to the premises of the Agent Secured Party or its agents for such time as the Agent Secured Party may desire in order to effectively collect or liquidate the Collateral Collateral, and to use in connection with such removal any and all services, supplies and other facilities of any Debtor; (ii) to take possession of any Debtor’s original books and records, to obtain access to any Debtor’s data processing equipment, computer hardware and Software relating to the Collateral and to use or disclose all of the foregoing and the information contained therein in any manner the Agent Secured Party deems appropriate; and (iii) to notify postal authorities to change the address for delivery of each Debtor’s mail to an address designated by the Agent Secured Party and to receive, open and dispose of all mail addressed to Debtor (subject to any DebtorIntercreditor Agreement granting to any Senior Lender (or its agent) such right for the benefit of the Senior Lenders and Secured Party), in which event Debtor shall have the right to receive copies of all mail received by Secured Party. If any Debtor’s books and records are prepared or maintained by an accounting service, contractor or other third-third party agent, such Debtor hereby irrevocably authorizes such service, contractor or other agent, upon notice by the Agent Secured Party to such Person that an Event of Default has occurred and is continuing, to deliver to the Agent Secured Party or its designees such books and records, and to follow the AgentSecured Party’s instructions with respect to further services to be rendered.

Appears in 1 contract

Samples: Security Agreement (Axesstel Inc)

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