Common use of REMEDIES IN CASE OF EVENT OF DEFAULT Clause in Contracts

REMEDIES IN CASE OF EVENT OF DEFAULT. In case an Event of Default shall have occurred and be continuing, the Pledgee shall be entitled upon written notice to the Borrower to exercise all of its rights, powers and remedies (whether vested in it by this Agreement, by any other Credit Document, any Existing Pari Passu Document, any Additional Pari Passu Document or, to the extent then in effect and secured hereby, any Other Secured Document (with all of the documents listed above being herein collectively called the “Secured Debt Documents”) or by law) for the protection and enforcement of its rights in respect of the Collateral, and the Pledgee shall be entitled to exercise all the rights and remedies of a secured party under the UCC and also shall be entitled, without limitation, to exercise the following rights, which each Pledgor hereby agrees to be commercially reasonable: (i) following written request by the Pledgee, to receive all amounts payable in respect of the Collateral otherwise payable to such Pledgor under Section 5 hereof; (ii) to transfer all or any part of the Pledged Securities into the Pledgee’s name or the name of its nominee or nominees;

REMEDIES IN CASE OF EVENT OF DEFAULT. In case an Event of Default shall have occurred and be continuing, the Pledgee shall be entitled upon written notice to the Borrower to exercise all of its the rights, powers and remedies (whether vested in it by this Agreement, the Credit Agreement, by any Interest Rate Protection Agreement or by any other Credit Document, any Existing Pari Passu Document, any Additional Pari Passu Document or, to the extent then in effect and secured hereby, any Other Secured Document (with all of the documents listed above being herein collectively called the “Secured Debt Documents”) or by law) for the protection and enforcement of its rights in respect of the Collateral, and the Pledgee shall be entitled to exercise all the rights and remedies of a secured party under the UCC and also shall be entitled, without limitation, to exercise the following rights, which each Pledgor hereby agrees to be commercially reasonable: (ia) following written request by the Pledgee, to receive all amounts payable in respect of the Collateral otherwise payable to such Pledgor under Section 5 hereof; 6 hereof to the Pledgor; (iic) to transfer accelerate any Pledged Note which may be accelerated in accordance with its terms, and take any other action to collect upon any Pledged Note (including, without limitation, to make any demand for payment thereon); (d) to vote all or any part of the Pledged Securities Stock (whether or not transferred into the Pledgee’s name or the name of its nominee or nominees;the Pledgee) and give all consents, waivers and ratifications in respect of the Collateral and otherwise act with respect thereto as though it were the outright owner thereof (the Pledgor hereby irrevocably constituting and appointing the Pledgee the proxy and attorney-in-fact of the Pledgor, with full power of substitution to do so); and