Rights of the Secured Party. The Debtor agrees that the Secured --------------------------- Party may at any time, whether before or after the occurrence of an Event of Default and without notice or demand of any kind, (i) notify the obligor on or issuer of any Collateral to make payment to the Secured Party of any amounts due or distributable thereon; (ii) in the Debtor's name or the Secured Party's name enforce collection of any Collateral by suit or otherwise, or surrender, release or exchange all or any part of it, or compromise, extend or renew for any period any obligation evidenced by the Collateral; (iii) receive all proceeds of the Collateral; and (iv) hold any increase or profits received from the Collateral as additional security for the Obligations, except that any money received from the Collateral shall, at the Secured Party's option, be applied in reduction of the Obligations, in such order of application as the Secured Party may determine, or be remitted to the Debtor.
Rights of the Secured Party. (a) If an Event of Default shall occur and be continuing, the Secured Party shall have the right to receive any and all cash dividends paid in respect of the Pledged Stock and make application thereof to the Special Secured Obligations in such order as the Secured Party may determine. If an Event of Default shall occur and be continuing and the Secured Party shall give notice of its intent to exercise such rights to the Pledgor, all shares of the Pledged Stock shall be registered in the name of the Secured Party or its nominee, and the Secured Party or its nominee may thereafter exercise (i) all voting, corporate and other rights pertaining to such shares of the Pledged Stock at any meeting of shareholders of the Issuer or otherwise and (ii) any and all rights of conversion, exchange, subscription and any other rights, privileges or options pertaining to such shares of the Pledged Stock as if it were the absolute owned thereof (including, without limitation, the right to exchange at its discretion any and all of the Pledged Stock upon the merger, consolidation, reorganization, recapitalization or other fundamental change in the corporate structure of the Issuer, or upon the exercise by the Pledgor or the Secured Party of any right, privilege or option pertaining to such shares of the Pledged Stock, and in connection therewith, the right to deposit and deliver any and all of the Pledged Stock with any committee, depositary, transfer agent, registrar or other designated agency upon such terms and conditions as it may determine), all without liability except to account for property actually received by it, but the Secured Party shall have no duty to the Pledgor to exercise any such right, privilege or option and shall not be responsible for any failure to do so or delay in so doing.
Rights of the Secured Party. 19. The Secured Party may pay and satisfy the whole or any part of any taxes, rates, liens, charges, mortgages, security interests or other encumbrances now or hereafter existing in respect of any of the Collateral and such payments together with all costs, charges and expenses which may be incurred in connection with making such payments shall form part of the Obligations and shall be secured by the security interests granted herein. In the event of the Secured Party satisfying any such lien, charge, mortgage, security interest or encumbrance, it shall be entitled to all the equities and securities of the person or persons so paid and is hereby authorized to obtain any discharge thereof and hold such discharge without registration for so long as it may deem advisable to do so.
Rights of the Secured Party. (a) If an Event of Default shall occur and be continuing, the Secured Party shall be entitled to exercise upon the pledge, lien and security interest granted hereby with respect to the Collateral in the manner permitted by law.
Rights of the Secured Party. If an Event of Default shall occur and be continuing and the Secured Party shall give notice to the Pledgor of its intent to exercise such rights, (i) the Secured Party shall have the right to receive any and all cash dividends paid in respect of the Units and make application thereof to the Convertible Promissory Note in such order as the Secured Party may determine and (ii) the Secured Party shall have the right to cause all of the Units to be registered in the name of the Secured Party or its nominee, and the Secured Party or its nominee may thereafter exercise (x) all voting and other rights pertaining to such Units at any meeting of Equity Holders of the Issuer or otherwise and (y) any and all rights of conversion, exchange, subscription and any other rights, privileges or options pertaining to such Units as if it were the absolute owner thereof (including, without limitation, the right to exchange at its discretion any and all of the Units upon the merger, consolidation,
Rights of the Secured Party. If a Default shall occur and be continuing and the Secured Party shall give notice of its intent to exercise such rights to the Pledgor, (i) the Secured Party shall have the right to receive any and all cash dividends paid in respect of the partnership or ownership distributions made in respect of the LLC Interests and apply such amounts to the Obligations in the manner determined by the Secured Party and (ii) all the LLC Interests shall be registered in the name of the Secured Party and the Secured Party may thereafter exercise (A) all voting, partnership, ownership, membership and other rights pertaining to such LLC Interests at any meeting of partners or members of the Company or otherwise and (B) any and all rights, privileges or options pertaining to such LLC Interests as if it were the absolute owner thereof, all without liability except to account for property actually received by it, but the Secured Party shall have no duty to the Pledgor to exercise any such right, privilege or option and shall not be responsible for any failure to do so or delay in so doing. The LLC Agreement is amended by this Section 7A to permit Pledgor to pledge all of its LLC Interests to and grant and collaterally assign to M&T Bank and the Secured Party a lien and security interest in its LLC Interests without any further consent, approval or action by any other party, including, without limitation, any other party to the LLC Agreement or otherwise. The rights, powers and benefits granted pursuant to this Section 7A shall inure to the benefit of the Secured Party and its successors and assigns and designated agents, as intended third party beneficiaries.
Rights of the Secured Party. The Secured Party shall not be liable for failure to collect or realize upon the Pledged Collateral, or any part thereof, or for any delay in so doing, nor shall it be under any obligation to take any action whatsoever with regard thereto. If a default under the Note has occurred and is continuing, the Secured Party may, without notice except for notice of sale as provided in Section 6, exercise all rights, privileges or options pertaining to any Pledged Collateral as if it were the absolute owner thereof, upon such terms and conditions as it may determine, all without liability except to account for property actually received by the Secured Party, but the Secured Party shall have no duty to exercise any of the aforesaid rights, privileges or options and shall not be responsible for any failure to do so or delay in so doing.
Rights of the Secured Party. Notwithstanding anything to the contrary in this Agreement, the Secured Party shall have the right to reject or direct the return of any Security transferred to any Collateral Account to the extent that it has determined, with the advice of its counsel (which may be in-house counsel), that acceptance of such Security as Collateral or otherwise would violate or conflict with any law, treaty, rule or regulation or determination of any Governmental Authority or other Requirements of Law binding upon the Secured Party.
Rights of the Secured Party. The Lender may pay and satisfy the whole or any part of any liens, taxes, rates, charges or encumbrances now or hereafter existing in respect of any of the Collateral and such payments together with all costs, charges and expenses which may be incurred in connection with making such payments shall form part of the Liabilities and shall be secured by the security interests granted herein. In the event of the Lender satisfying any such lien, charge or encumbrance, it shall be entitled to all the equities and securities of the person or persons so paid and are hereby authorized to obtain any discharge thereof and hold such discharge without registration for so long as it may deem advisable to do so. The Lender, without exonerating in whole or in part the Borrower, may grant time, renewals, extensions, indulgences, releases and discharges to, may take securities from and give the same and any or all existing securities up to, may abstain from taking securities from or from perfecting securities of, may accept compositions from, and may otherwise deal with the Borrower and all other persons and securities as the Lender may see fit. Nothing herein shall obligate the Lender to extend or amend any credit to the Borrower or to any other Person.
Rights of the Secured Party. If a Security Agreement Event of Default shall have occurred and be continuing, the Secured Party may, subject to Section 4.02, exercise, at its option and in addition to any other rights and remedies the Secured Party may have at law or in equity, any one or more or all, and in any order, any of the following remedies, it being expressly understood that no remedy herein conferred is intended to be exclusive of any other remedy or remedies, but that each and every remedy is cumulative and is in addition to every other remedy given herein or now or hereafter existing at law or in equity or by statute:
