REMEDIES IN CASE OF EVENT OF DEFAULT. In case an Event of Default shall have occurred and be continuing, the Pledgee shall be entitled to exercise all of its rights, powers and remedies (whether vested in it by this Agreement, by any other Credit Document, by any Senior Note Document or, to the extent then in effect and secured hereby, by any Secured Hedging Agreement (with all of the documents listed above being herein collectively called the “Secured Debt Agreements”) 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 (provided; however the Pledgee shall not be entitled to exercise any such rights, power or remedies in respect of ULC Shares without prior notice of an Event of Default provided to the issuer of such ULC Shares):
Appears in 3 contracts
Samples: Pledge and Security Agreement (Host Hotels & Resorts, Inc.), Pledge and Security Agreement (Host Marriott Corp/), Pledge and Security Agreement (Host Marriott L P)
