Common use of Remedies; Disposition of the Collateral Clause in Contracts

Remedies; Disposition of the Collateral. Any Collateral repossessed by the Security Agent under or pursuant to Section 7.l and any other Collateral, whether or not so repossessed by the Security Agent, may, to the extent permitted by any contract terms governing such Collateral, be sold, leased or otherwise disposed of under one or more contracts or as an entirety, and without the necessity of gathering at the place of sale the property to be sold, and in general in such manner, at such time or times, at such place or places and on such terms (whether cash or credit, and in the case of credit, without assumption of future credit risk) as the Security Agent may, in compliance with applicable requirements of Law, determine to be commercially reasonable. Any of the Collateral may be sold, leased or otherwise disposed of, in the condition in which the same existed when taken by the Security Agent or after any overhaul or repair which the Security Agent shall determine to be commercially reasonable. Any such disposition shall be made upon not less than 15 days written notice to the Steam Lessee specifying the time such disposition is to be made and, if such disposition shall be a public sale, specifying the place of such sale. Any such sale may be adjourned by announcement at the time and place fixed therefor, and such sale may, without further notice, be made at the and place to which it was so adjourned. To the extent permitted by applicable requirements of Law, the Security Agent (or the Owner Trustee or GE Capital) may bid for and become the buyer of the Collateral or any item thereof offered for sale at a public auction without accountability to the Steam Lessee (except to the extent of surplus money received as provided in Section 7.4)

Remedies; Disposition of the Collateral. Any Collateral repossessed by the Security Agent under or pursuant to Section 7.l 7.1 and any other Collateral, whether or not so repossessed by the Security Agent, may, to the extent permitted by any contract terms governing such Collateral, be sold, leased or otherwise disposed of under one or more contracts or as an entirety, and without the necessity of gathering at the place of sale the property to be sold, and in general in such manner, at such time or times, at such place or places and on such terms (whether cash or credit, and in the case of credit, without assumption of future credit risk) as the Security Agent may, in compliance with applicable requirements of Law, determine to be commercially reasonable. Any of the Collateral may be sold, leased or otherwise disposed of, in the condition in which the same existed when taken by the Security Agent or after any overhaul or repair which the Security Agent shall determine to be commercially reasonable. Any such disposition shall be made upon not less than 15 days 10 days' written notice to the Steam Lessee specifying Partnership specify ing the time such disposition is to be made and, if such disposition shall be a public sale, specifying the place of such sale. Any such sale may be adjourned 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. To the extent permitted by applicable requirements of Law, the Security Agent (or the Owner Trustee or Trustee, GE Capital, the Indenture Trustee, the Administrative Agent or any Loan Participant) may bid for and become the buyer of the Collateral or any item thereof offered for sale at a public auction without accountability to the Steam Lessee Partnership (except to the extent of surplus money received as provided in Section 7.4).

Remedies; Disposition of the Collateral. Any Collateral repossessed by the Security Agent under or pursuant to Section 7.l and any other Collateral, whether or not so repossessed by the Security Agent, may, to the extent permitted by any contract terms governing such Collateral, be sold, leased or otherwise disposed of under one or more contracts or as an entirety, and without the necessity of gathering at the place of sale the property to be sold, and in general in such manner, at such time or times, at such place or places and on such terms (whether cash or credit, and in the case of credit, without assumption of future credit risk) as the Security Agent may, in compliance with applicable requirements of Law, determine to be commercially reasonable. Any of the Collateral may be sold, leased or otherwise disposed of, in the condition in which the same existed when taken by the Security Agent or after any overhaul or repair which the Security Agent shall determine to be commercially reasonable. Any such disposition shall be made upon not less than 15 days 10 days' written notice to the Steam Lessee Partnership specifying the time such disposition is to be made and, if such disposition shall be a public sale, specifying the place of such sale. Any such sale may be adjourned 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. To the extent permitted by applicable requirements of Law, the Security Agent (or the Owner Trustee or GE Capital) may bid for and become the buyer of the Collateral or any item thereof offered for sale at a public auction without accountability to the Steam Lessee Partnership (except to the extent of surplus money received as provided in Section 7.4).

Remedies; Disposition of the Collateral. Any Collateral repossessed by the Security Agent under or pursuant to Section 7.l 7.1 and any other Collateral, whether or not so repossessed by the Security Agent, may, to the extent permitted by any contract terms governing such Collateral, be sold, leased or otherwise disposed of under one or more contracts or as an entirety, and without the necessity of gathering at the place of sale the property to be sold, and in general in such manner, at such time or times, at such place or places and on such terms (whether cash or credit, and in the case of credit, without assumption of future credit risk) as the Security Agent may, in compliance with applicable requirements of Law, determine to be commercially reasonable. Any of the Collateral may be sold, leased or otherwise disposed of, in the condition in which the same existed when taken by the Security Agent or after any overhaul or repair which the Security Agent shall determine to be commercially reasonable. Any such disposition shall be made upon not less than 15 days written notice to the Steam Lessee specifying the time such disposition is to be made and, if such disposition shall be a public sale, specifying the place of such sale. Any such sale may be adjourned 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. To the extent permitted by applicable requirements of Law, the Security Agent (or the Owner Trustee, GE Capital, the Administrative Agent, the Indenture Trustee or GE Capitalany Holder) may bid for and become the buyer of the Collateral or any item thereof offered for sale at a public auction without accountability to the Steam Lessee (except to the extent of surplus money received as provided in Section 7.4).