Common use of Rights of Secured Party Clause in Contracts

Rights of Secured Party. Secured Party shall have all of the rights and remedies of a secured party under the Code and all other rights and remedies accorded to Secured Party at equity or law, including, without limitation, the right to apply for and have a receiver appointed by a court of competent jurisdiction to manage, protect and preserve the Collateral, to continue operating the business of Debtor and to collect all revenues and profits thereof. Any notice of sale or other disposition of Collateral given not less than 10 Business Days' prior to such proposed action shall constitute reasonable and fair notice of such action. To the extent permitted by applicable law, Secured Party may postpone or adjourn any such sale from time to time by announcement at the time and place of sale stated in the notice of sale or by announcement of any adjourned sale, without being required to give a further notice of sale. Any such sale may be for cash or, unless prohibited by applicable law, upon such credit or installment terms as Secured Party shall determine. To the extent permitted by applicable law, Debtor shall be credited with the net proceeds of such sale only when such proceeds actually are received by Secured Party. Despite the consummation of any such sale, Debtor shall remain liable for any deficiency on Issuer's Obligations which remains outstanding following any such sale. All net proceeds received pursuant to a sale shall be applied in the manner set forth in Section 5.10 of the Indenture.

Appears in 2 contracts

Samples: Security Agreement (Scott Cable Communications Inc), Security Agreement (Scott Cable Communications Inc)

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Rights of Secured Party. Secured Party shall have all of the rights and remedies of a secured party under the New York Uniform Commercial Code (the "UCC") and under the applicable laws of any other jurisdiction, including without limitation any jurisdiction where any of the Collateral is located, and all other rights and remedies accorded to Secured Party at equity or law, including, without limitation, the right to apply for and have a receiver appointed by a court of competent jurisdiction to manage, protect and preserve the Collateral, to continue operating the business of Debtor and to collect all revenues and profits thereof. Any notice of sale or other disposition of Collateral given not less than 10 Business Days' days prior to such proposed action shall constitute reasonable and fair notice of such action. To the extent permitted by applicable law, Secured Party may postpone or adjourn any such sale from time to time by announcement at the time and place of sale stated in the notice of sale or by announcement of any adjourned sale, without being required to give a further notice of sale. Any such sale may be for cash or, unless prohibited by applicable law, upon such credit or installment terms as Secured Party shall determine. To the extent permitted by applicable law, Debtor shall be credited with the net proceeds of such sale only when such proceeds actually are received by Secured Party. Despite the consummation of any such sale, Debtor shall remain liable for any deficiency on Issuer's the Obligations which remains outstanding following any such sale. All net proceeds received pursuant to a sale shall be applied in the manner set forth in Section 5.10 of the Indenture.

Appears in 1 contract

Samples: Stock Purchase Agreement (Group Long Distance Inc)

Rights of Secured Party. Secured Party shall have all of the rights and remedies of a secured party under the Code and all other rights and remedies accorded to Secured Party at equity or law, including, without limitation, the right to apply for and have a receiver appointed by a court of competent jurisdiction to manage, protect and preserve the Collateral, to continue operating the business of Debtor and to collect all revenues and profits thereof. Any notice of sale or other disposition of Collateral given not less than 10 Business Days' prior to such proposed action shall constitute reasonable and fair notice of such action. To the extent permitted by applicable law, Secured Party may postpone or adjourn any such sale from time to time by announcement at the time and place of sale stated in the notice of sale or by announcement of any adjourned sale, without being required to give a further notice of sale. Any such sale may be for cash or, unless prohibited by applicable law, upon such credit or installment terms as Secured Party shall determine. To the extent permitted by applicable law, Debtor shall be credited with the net proceeds of such sale only when such proceeds actually are received by Secured PartyParty in Good Funds. Despite the consummation of any such sale, Debtor shall remain liable for any deficiency on IssuerBorrower's Obligations which remains outstanding following any such sale. All net proceeds received pursuant to a sale shall be applied in the manner set forth in Section 5.10 8.4 of the IndentureLoan Agreement.

Appears in 1 contract

Samples: Security Agreement (Scott Cable Communications Inc)

Rights of Secured Party. Secured Party shall have all of the rights and remedies of a secured party under the Code and the Federal Aviation Act and all other rights and remedies accorded to Secured Party at equity or lawlaw with respect to the Collateral, including, without limitation, the right to apply for and have a receiver appointed by a court of competent jurisdiction to manage, protect and preserve the Collateral, Collateral and to continue operating and using the business of Debtor and to collect all revenues and profits thereofCollateral. Any notice of sale or other disposition of Collateral given not less than 10 Business Days' Days prior to such proposed action shall constitute reasonable and fair notice of such action. To the extent permitted by applicable law, Secured Party may postpone or adjourn any such sale from time to time by announcement at the time and place of sale stated in the notice of sale or by announcement of any adjourned sale, without being required to give a further notice of sale. Any such sale may be for cash or, unless prohibited by applicable law, upon such credit or installment terms as Secured Party shall determine. To the extent permitted by applicable law, Debtor shall be credited with the net proceeds of such sale only when such proceeds actually are received by Secured Party. Despite the consummation of any such sale, Debtor shall remain liable for any deficiency on Issuer's Obligations the Liabilities which remains outstanding following any such sale. All net proceeds received pursuant to a sale shall be applied in the manner set forth in Section 5.10 7.3 of the IndentureCredit Agreement.

Appears in 1 contract

Samples: Aircraft Mortgage and Security Agreement (General Housing Inc)

Rights of Secured Party. Secured Party shall have all of the rights and remedies of a secured party under the Code and all other rights and remedies accorded to Secured Party at equity or law, including, without limitation, the right to apply for and have a receiver appointed by a court of competent jurisdiction to manage, protect and preserve the Collateral, to continue operating the business Paging Business of Debtor and to collect all revenues and profits thereof. Any notice of sale or other disposition of Collateral given not less than 10 ten (10) Business Days' Days prior to such proposed action shall constitute reasonable and fair notice of such action. To the extent permitted by applicable law, Secured Party may postpone or adjourn any such sale from time to time by announcement at the time and place of sale stated in the notice of sale or by announcement of any adjourned sale, without being required to give a further notice of sale. Any such sale may be for cash or, unless prohibited by applicable law, upon such credit or installment terms as Secured Party shall determine. To the extent permitted by applicable law, Debtor shall be credited with the net proceeds of such sale only when such proceeds actually are received by Secured PartyParty in Good Funds. Despite the consummation of any such sale, Debtor shall remain liable for any deficiency on IssuerGuarantor's Obligations which remains outstanding following any such sale. All net proceeds received pursuant to a sale shall be applied in the manner set forth in Section 5.10 8.4 of the IndentureLoan Agreement.

Appears in 1 contract

Samples: Security Agreement (Paging Partners Corp)

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Rights of Secured Party. Secured Party shall have all of the rights and remedies of a secured party under the New York Uniform Commercial Code (the "UCC") and under the applicable law of any other jurisdiction, including without limitation any jurisdiction where any of the Collateral is located, and all other rights and remedies accorded to Secured Party at equity or law, including, without limitation, the right to apply for and have a receiver appointed by a court of competent jurisdiction to manage, protect and preserve the Collateral, to continue operating the business of Debtor and to collect all revenues and profits thereof. Any notice of sale or other disposition of Collateral given not less than 10 Business Days' days prior to such proposed action shall constitute reasonable and fair notice of such action. To the extent permitted by applicable law, Secured Party may postpone or adjourn any such sale from time to time by announcement at the time and place of sale stated in the notice of sale or by announcement of any adjourned sale, without being required to give a further notice of sale. Any such sale may be for cash or, unless prohibited by applicable law, upon such credit or installment terms as Secured Party shall determine. To the extent permitted by applicable law, Debtor shall be credited with the net proceeds of such sale only when such proceeds actually are received by Secured Party. Despite the consummation of any such sale, Debtor shall remain liable for any deficiency on Issuer's the Obligations which remains outstanding following any such sale. All net proceeds received pursuant to a sale shall be applied in the manner set forth in Section 5.10 of the Indenture.

Appears in 1 contract

Samples: Stock Purchase Agreement (Group Long Distance Inc)

Rights of Secured Party. Secured Party shall have all of the rights and remedies of a secured party under the Code and all other rights and remedies accorded to Secured Party Party, at equity or law, including, without limitation, the right to apply for and have a receiver appointed by a court of competent jurisdiction to manage, protect and preserve the Collateral, to continue operating the business of Debtor Collateral and to collect all revenues and profits thereof. Any notice of sale or other disposition of Collateral given not less than 10 Business Days' ten (10) business days prior to such proposed action shall constitute reasonable and fair notice of such action. To the extent permitted by applicable lawApplicable Law, Secured Party may postpone or adjourn any such sale from time to time by announcement at the time and place of sale stated in the notice of sale or by announcement of any adjourned sale, without being required to give a further notice of sale. Any such sale may be for cash or, unless prohibited by applicable lawApplicable Law, upon such credit or installment terms as Secured Party shall determine. To the extent permitted by applicable lawApplicable Law, Debtor shall be credited with the net proceeds of such sale only when such proceeds actually are received by Secured Party. Despite the consummation of any such sale, Debtor shall remain liable for any deficiency on Issuer's Obligations which remains outstanding following any such sale. All net proceeds received pursuant to a sale shall be applied in the manner set forth in Section 5.10 of the Indenture.Secured

Appears in 1 contract

Samples: Security Agreement (Electronic Designs Inc)

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