Examples of Gainesville Collateral in a sentence
Notwithstanding the foregoing, Lender acknowledges and agrees that Borrower leases the premises on and in which the Gainesville Facility and the Gainesville Collateral are located and Borrower’s possession and control of such collateral is limited to the extent of such leasehold interest.
The Gainesville Collateral consists of all assets described in Section 1.2(g) hereof.
In the event that, prior to the Effective Foreclosure Date, any recipient of a Notification objects to the proposal set forth in the Notification, Lender may proceed with a foreclosure sale of the Gainesville Collateral upon any notice required by the UCC, and shall retain the right to bid at any foreclosure sale and/or to retain any proceeds of any such sale up to the amount of the Secured Obligations.
Borrower and its officers, employees, directors, shareholders, agents, attorneys, successors and assigns, shall not interfere with and shall reasonably cooperate with Lender to effectuate (i) exclusive access to the Gainesville Collateral by Lender or its designee, receiver or keeper, (ii) any sale or other disposal of the Gainesville Collateral by Lender, and (iii) all other acts by Lender contemplated under this Agreement or authorized or consented to by Borrower.
Commencing on the Effective Foreclosure Date, Borrower authorizes Lender to take dominion and control of all documents and materials relating to the ownership, use and operation of the Gainesville Collateral (to the extent that such materials are not included as Collateral), wherever located.
Commencing on the Effective Foreclosure Date, Borrower authorizes Lender to maintain the location of all or any portion of the Gainesville Collateral located on premises occupied, leased by, or controlled by Borrower where such Gainesville Collateral may now or hereafter be situated, or such other location selected by Lender, and to conduct a sale or sales of the Gainesville Collateral from any such premises.
Borrower consents to the acceptance by Lender of the Gainesville Collateral in full satisfaction of the Secured Obligations and waives any right to Notification, any right to notification of disposition of the Gainesville Collateral under Section 9-611 (to the extent applicable) and any right to redeem the Gainesville Collateral under Section 9-623.
In light of the Existing Event of Default, and in order to facilitate an orderly liquidation of the Gainesville Collateral, Borrower hereby reaffirms its obligations under the Transaction Documents and, so long as Borrower has possession and control of the Gainesville Factory, agrees to provide to Lender such access to the Gainesville Facility and the Gainesville Collateral that Borrower possesses and, in any event, agrees not to take any steps to prevent Lender’s access thereto.
Upon the Effective Foreclosure Date, upon Lender’s request, Borrower shall execute any and all documents reasonably requested by Lender to evidence the transfer of the Gainesville Collateral, including but not limited to Bills of Sale, and Assignments in form and substance reasonably satisfactory to Lender.
Conditioned upon Borrower’s compliance with all of the terms of this Agreement, and upon the Effective Foreclosure Date, Lender agrees to accept the Gainesville Collateral in full satisfaction of the Secured Obligations and Lender thereupon waives any right to (i) a deficiency claim against Borrower upon disposition of the Gainesville Collateral, (ii) convert the Debentures, and (iii) exercise the Warrants.