Whenever an Event of Default exists the Borrower shall and shall cause each of its Subsidiaries to, at its expense and upon the Lender's request, provide the Lender with appraisals or updates thereof of any or all of the Collateral from an appraiser, and prepared on a basis, satisfactory to the Lender.
Whenever an Event of Default exists the Lender is hereby authorized at any time and from time to time, to set off and apply any and all deposits (general or special, time or demand, provisional or final) at any time held and other indebtedness at any time owing by the Lender or any affiliate of such Lender to or for the credit or the account of any Borrower against any and all of the Obligations, whether or not then due and payable.
Whenever an Event of Default exists the Secured Party may, without notice to or demand upon the Assignor, declare this Agreement to be in default, and the Secured Party shall thereafter have in any jurisdiction in which enforcement hereof is sought, in addition to all other rights and remedies, the rights and remedies of a secured party under the Uniform Commercial Code of the State or of any other jurisdiction in which Collateral is located, including, without limitation, the right to take possession of the Collateral, and for that purpose the Secured Party may, so far as the Assignor can give authority therefor, enter upon any premises on which the Collateral may be situated and remove the same therefrom. The Secured Party may in its discretion require the Assignor to assemble all or any part of the Collateral at such location or locations within the jurisdiction(s) of the Assignor's principal office(s) or at such other locations as the Secured Party may reasonably designate. Unless the Collateral is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market, the Secured Party shall give to the Assignor at least thirty days prior written notice of the time and place of any public sale of Collateral or of the time after which any private sale or any other intended disposition is to be made. The Assignor hereby acknowledges that thirty days prior written notice of such sale or sales shall be reasonable notice. In addition, the Assignor waives any and all rights that it may have to a judicial hearing in advance of the enforcement of any of the Secured Party's rights hereunder, including, without limitation, Secured Party's right following an Event of Default to take immediate possession of the Collateral and to exercise its rights with respect thereto.
Whenever an Event of Default exists the Borrower shall, at its expense and upon the Agent's request, provide the Agent with appraisals or updates thereof of any or all of the Collateral from an appraiser reasonably acceptable to Agent. Notwithstanding the foregoing, the Agent may obtain once, at the Lenders' expense, and promptly upon the Agent's request, appraisals or updates thereof of any or all of the Collateral owned by the Borrower.
Whenever an Event of Default exists the Borrower shall, at its expense and upon the Lender's request, provide the Lender with appraisals or updates thereof of any or all of the Collateral and Guarantor Collateral from an appraiser reasonably acceptable to Lender. Notwithstanding the foregoing, the Lender may obtain once during each calendar year, at Lender's expense, appraisals or updates thereof of any or all of the Collateral owned by the Borrower.
