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

Remedies; Disposition of the Collateral. Any Collateral of which the Agent has taken possession under or pursuant to Section 6.1 and any other Collateral, whether or not so possessed by the Agent, may, upon the occurrence and during the continuation of an Event of Default, to the extent permitted by applicable law, 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 as the Agent may, in compliance with any requirements of applicable law, determine to be commercially reasonable. Any such disposition shall be made upon not less than ten (10) days' written notice to the Borrower 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. Any of the Collateral may be sold, leased or otherwise disposed of, in the condition in which the same existed when taken by the Agent or after any overhaul or repair which the Agent shall determine to be commercially reasonable. To the extent permitted by applicable law, the Agent or any Secured Party may itself bid for and become the purchaser of the Collateral or any item thereof offered for sale at a public auction without accountability to the Borrower (except to the extent of any surplus money in excess of the aggregate outstanding amount of the Secured Obligations).

Remedies; Disposition of the Collateral. Any Upon the occurrence and continuance of a Noticed Event of Default, any Collateral of which repossessed by the Collateral Agent has taken possession under or pursuant to Section 6.1 7.1 and any other Collateral, Collateral whether or not so possessed repossessed by the Collateral Agent, may, upon the occurrence and during the continuation of an Event of Default, to the extent permitted by applicable law, may be sold, assigned, 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 as the Collateral Agent may, in compliance with any mandatory requirements of applicable law, determine to be commercially reasonable. Any such disposition shall be made upon not less than ten (10) days' written notice to the Borrower 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. Any of the Collateral may be sold, leased or otherwise disposed of, in the condition in which the same existed when taken by the Collateral Agent or after any overhaul or repair which the Collateral Agent shall determine to be commercially reasonable. To the extent Any such disposition which shall be a private sale or other private proceedings permitted by applicable lawsuch requirements shall be made upon not less than ten (10) days' written notice to the relevant Assignor specifying the time at which such disposition is to be made and the intended sale price or other consideration therefor, and shall be subject, for the Agent ten (10) days after the giving of such notice, to the right of the relevant Assignor or any Secured Party may itself bid for and become the purchaser nominee of such Assignor to acquire the Collateral or any item thereof offered for sale involved at a public auction without accountability price or for such other consideration at least equal to the Borrower (except to the extent of any surplus money in excess of the aggregate outstanding amount of the Secured Obligations).intended sale price or other consideration so specified. Any such disposition which

Remedies; Disposition of the Collateral. Any Collateral of which repossessed by the Security Agent has taken possession under or pursuant to Section 6.1 7.l and any other Collateral, whether or not so possessed repossessed by the Security Agent, may, upon the occurrence and during the continuation of an Event of Default, to the extent permitted by applicable lawany 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 any applicable requirements of applicable lawLaw, 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 ten (10) 10 days' written notice to the Borrower 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. Any of the Collateral may be sold, leased or otherwise disposed of, in the condition in which the same existed when taken by the Agent or after any overhaul or repair which the Agent shall determine to be commercially reasonable. To the extent permitted by applicable lawrequirements of Law, the Security Agent (or any Secured Party the Owner Trustee or GE Capital) may itself bid for and become the purchaser buyer of the Collateral or any item thereof offered for sale at a public auction without accountability to the Borrower Partnership (except to the extent of any surplus money received as provided in excess of the aggregate outstanding amount of the Secured ObligationsSection 7.4).