Acquired Collateral definition
Examples of Acquired Collateral in a sentence
In order to exercise its rights under this Section, Participant shall give notice in writing to the Company, setting forth the date by which the remaining Loans and Acquired Collateral are to be liquidated by the Company, which date shall be no less than 150 calendar days after the date of such notice.
The Company shall proceed expeditiously to cause to be commenced the liquidation of the remaining Loans and Acquired Collateral by means of sealed bid sales to Persons other than Affiliates of the Company, the Servicer or any Subservicer, or Affiliates of the Servicer or any Subservicer.
The Servicer shall be entitled to retain or withdraw any interest income paid on funds deposited in the Acquired Collateral Account.
The Collateral and the After Acquired Collateral shall not be released from the Security Interests created hereunder and no Assets shall be substituted for any of the Collateral except in accordance with the provisions of Article V of the Purchase Agreement, which provisions are hereby incorporated herein by reference.
Any of the Collateral or After Acquired Collateral may be sold, leased or otherwise disposed of, in the condition in which the same existed when taken by the Holders or after any overhaul or repair that the Holders shall determine to be commercially reasonable.
Upon consummation of any such sale, the Holders shall have the right to assign, transfer, endorse and deliver to the purchaser or purchasers thereof the Collateral or After Acquired Collateral so sold.
To the extent the Acquired Collateral was subject to the UCC, Servicer may exercise all of Owner’s rights and remedies as a secured creditor under the UCC, and under the Asset Documents, including selling the Acquired Collateral at public or private sale, in the entirety or in separate parts, as the Servicer may determine.
The Company Parties hereby agree to indemnify each Holder for, and hold each of them harmless against, any present or future claim for liability for any stamp or other similar tax and any penalties or interest with respect thereto, which may be assessed, levied or collected by any jurisdiction in connection with this Security Agreement or any Collateral or After Acquired Collateral.
The Holders shall administer the Collateral and the After Acquired Collateral in accordance with the provisions hereof.
Upon payment in full and satisfaction of all of the Obligations, this Security Agreement shall terminate and the Holders shall reassign and redeliver to each Company Party all Collateral and After Acquired Collateral hereunder that has not been sold, disposed of, retained or applied by the Holders in accordance with the terms hereof and the Notes.