Common use of Rights and Remedies Upon an Event of Default Clause in Contracts

Rights and Remedies Upon an Event of Default. If an Event of Default shall occur under this Agreement, in addition to any other rights and remedies which may be available to the Banks and without limiting any other rights and remedies granted to the Banks in this Agreement, the other Loan Documents and at law and in equity, including, without limitation, the rights and remedies provided to the Banks under the Code, which rights and remedies are fully exercisable by each Bank as and when provided herein and therein, the Banks shall have the rights and remedies set forth below in this Section 9.1, any and all of which any Bank may exercise at its election, without notice to Borrower of its election and without demand, but subject to the rights of each other Bank under the Intercreditor Agreement, and with immediate written notice to each other Bank of the exercise of any such right or remedy.