Sell the Collateral definition

Sell the Collateral. Lender shall have full power to sell, lease, transfer, or otherwise deal with the Collateral or proceeds thereof in Lender's own name or that of Borrower and/or Guarantor. Lender may sell the Collateral at public auction or private sale. Unless the Collateral threatens to decline speedily in value or is of a type customarily sold on a recognized market, Lender will give Borrower, Guarantor and other persons as required by law, reasonable notice of the time and place of any public sale, or the time after which any private sale or any other disposition of the Collateral is to be made. However, no notice need be provided to any person who, after an Event of Default occurs, enters into and authenticates an agreement waiving that person's right to notification of sale. The requirements of reasonable notice shall be met if such notice is given at least 10 days before the time of the sale or disposition. All expenses relating to the disposition of the Collateral, including without limitation the expenses of retaking, holding, insuring, preparing for sale and selling the Collateral, shall become a part of the Obligations secured by this Agreement. To the extent permitted by applicable law, all such expenses will become a part of the Obligations and, at Lenders option, will: (i) be payable on demand; (ii) be added to the balance of the Loan and be apportioned among and be payable with any installment payments to become due during either (a) the term of any applicable insurance policy or (b) the remaining term of the Loan; or (iii) be treated as a balloon payment that will be due and payable at the Loan's maturity.
View Source

Examples of Sell the Collateral in a sentence

  • Sell the Collateral, at Lender's discretion, as a unit or in parcels, at one or more public or private sales.

  • Sell the Collateral, at Lender’s discretion, as a unit or in parcels, at one or more public or private sales.

  • Sell the Collateral, at ▇▇▇▇▇▇’s discretion, as a unit or in parcels, at one or more public or private sales.

  • Sell the Collateral, at ▇▇▇▇▇▇'s discretion, as a unit or in parcels, at one or more public or private sales.

  • Sell the Collateral at either a public or private sale, or both, by way of one or more contracts or transactions, for cash or on terms.

  • Sell the Collateral at one or more commercially reasonable public sales, in one or several lots, with or without having such property at the sale, after giving Practice reasonable notice of the time and place of any public sale or of the time after which any private sale is to be made.

  • Sell the Collateral, at Lenders’ discretion, as a unit or in parcels, at one or more public or private sales.

  • Sell the Collateral, at L▇▇▇▇▇'s discretion, as a unit or In parcels, at one or more public or private sales, or through any exchange or broker, at such prices and on such terms as Lender may deem best, for cash or on credit or future delivery, without assumption of any credit risk, without any further demand or notice upon Grantor for performance, without appraisal, without the intervention of any court and without any formalities other than those provided herein.

  • Sell the Collateral, at L▇▇▇▇▇’s discretion, as a unit or in parcels, at one or more public or private sales.

  • Sell the Collateral, at Lenders' discretion, as a unit or in parcels, at one or more public or private sales or distribute the Collateral as otherwise provided in this Agreement or the Loan Agreement.

Related to Sell the Collateral

  • Mortgage Collateral the “Collateral” as defined in the Mortgage Loan Agreement.

  • First Priority Collateral means all assets, whether now owned or hereafter acquired by the Borrower or any other Loan Party, in which a Lien is granted or purported to be granted to any First Priority Secured Party as security for any First Priority Obligation.

  • Possessory Collateral means any Shared Collateral in the possession of a Collateral Agent (or its agents or bailees), to the extent that possession thereof perfects a Lien thereon under the Uniform Commercial Code of any jurisdiction. Possessory Collateral includes, without limitation, any Certificated Securities, Promissory Notes, Instruments, and Chattel Paper, in each case, delivered to or in the possession of the Collateral Agent under the terms of the First-Lien Security Documents.

  • Permitted Security Interest means any Security Interest:

  • Primary Collateral With respect to any Cross-Collateralized Mortgage Loan, any Mortgaged Property (or portion thereof) designated as directly securing such Cross-Collateralized Mortgage Loan and excluding any Mortgaged Property (or portion thereof) as to which the related lien may only be foreclosed upon by exercise of the cross-collateralization provisions of such Cross-Collateralized Mortgage Loan.