Common use of Retention of Collateral Clause in Contracts

Retention of Collateral. In addition to the rights and remedies hereunder, the Lender may, in compliance with Sections 9-620 and 9-621 of the UCC or otherwise complying with the requirements of applicable Law of the relevant jurisdiction, accept or retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Lender shall have provided such notices, however, the Lender shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason.

Appears in 4 contracts

Samples: Security and Pledge Agreement (Bowman Consulting Group Ltd.), Security and Pledge Agreement (Resources Connection Inc), Security and Pledge Agreement (Inseego Corp.)

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Retention of Collateral. In addition to the rights and remedies hereunder, the Lender may, in compliance with Sections 9-620 679.620 and 9-621 679.621 of the UCC or otherwise complying with the requirements of applicable Law of the relevant jurisdiction, accept or retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Lender shall have provided such notices, however, the Lender shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason.

Appears in 3 contracts

Samples: Amended and Restated Security and Pledge Agreement (HCI Group, Inc.), Security and Pledge Agreement (HCI Group, Inc.), Security and Pledge Agreement (HCI Group, Inc.)

Retention of Collateral. In addition to the rights and remedies hereunder, the Lender may, in compliance with Sections 9-620 and 9-621 of the UCC or otherwise complying with the requirements of applicable Law of the relevant jurisdiction, accept or retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Lender shall have provided such notices, however, the Lender shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason.

Appears in 2 contracts

Samples: Security and Pledge Agreement (Sciquest Inc), Security Agreement (American Woodmark Corp)

Retention of Collateral. In addition to the rights and remedies hereunder, the Lender may, in compliance with Sections 9-620 and 9-621 of the UCC or otherwise complying with the requirements of applicable Law of the relevant jurisdiction, accept or retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Lender shall have provided complied with such noticesrequirements, however, the Lender shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason.

Appears in 2 contracts

Samples: Security and Pledge Agreement (AstroNova, Inc.), Security and Pledge Agreement (AstroNova, Inc.)

Retention of Collateral. In addition to the rights and remedies hereunder, the Lender may, in compliance with Sections 9-620 and 9-621 (including notices given thereunder) of the UCC or otherwise complying with the requirements of applicable Law laws of the relevant jurisdiction, accept or retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Lender shall have provided such notices, however, the Lender shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason.

Appears in 1 contract

Samples: Security Agreement (BBX Capital, Inc.)

Retention of Collateral. In addition to the rights and remedies hereunder, the Lender may, in compliance with Sections 9-620 9.620 and 9-621 9.621 of the UCC or otherwise complying with the requirements of applicable Law of the relevant jurisdiction, accept or retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Lender shall have provided such notices, however, the Lender shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason.

Appears in 1 contract

Samples: Security and Pledge Agreement (Omega Protein Corp)

Retention of Collateral. In addition to the rights and remedies hereunder, the The Lender may, in compliance with Sections after providing the notices required by Section 9-620 and 9-621 of the UCC or otherwise complying with the requirements of applicable Law law of the relevant jurisdiction, accept or retain the Collateral in full or partial satisfaction of the Secured ObligationsIndebtedness. Unless and until the Lender shall have provided such notices, however, the Lender shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations Indebtedness for any reason.

Appears in 1 contract

Samples: Security Agreement (Metretek Technologies Inc)

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Retention of Collateral. In addition to the rights and remedies hereunder, the Lender may, in compliance with Sections 9-620 and 9-621 of the UCC or otherwise complying with the requirements of applicable Law law of the relevant jurisdiction, accept or retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Lender shall have provided such notices, however, the Lender shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason.

Appears in 1 contract

Samples: Form of Security and Pledge Agreement (Advanced Energy Industries Inc)

Retention of Collateral. In addition to the rights and remedies hereunder, Xxxxxx may, following the Lender mayoccurrence of an Event of Default, in compliance with Sections 9-620 104.9620 and 9-621 104.9621 of the UCC or otherwise complying with the requirements of applicable Law of the relevant jurisdiction, accept or retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Lender shall have provided such notices, however, the Lender shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason.

Appears in 1 contract

Samples: Loan, Security and Pledge Agreement (Greenlane Holdings, Inc.)

Retention of Collateral. In addition to the rights and remedies hereunder, the Lender may, in compliance with Sections 9-620 and 9-621 of the UCC or otherwise complying with the requirements of applicable Law of the relevant jurisdiction, accept or retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Lender shall have provided such notices, however, the Lender shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason.. (i)

Appears in 1 contract

Samples: Active 696107325v8 Security and Pledge Agreement (Lifevantage Corp)

Retention of Collateral. In addition to the rights and remedies hereunder, the Lender may, in compliance with Sections 9-620 and 9-621 of the UCC or otherwise complying in compliance with the requirements of applicable any Applicable Law of the relevant jurisdiction, accept or retain the Collateral in satisfaction of the Secured Obligations. Unless and until the Lender shall have provided such notices, however, the Lender shall not be deemed to have retained any Collateral in satisfaction of any Secured Obligations for any reason.

Appears in 1 contract

Samples: Pledge and Security Agreement (Citizens, Inc.)

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