UCC REMEDIES definition

UCC REMEDIES. With respect to all or any part of the Personal Property, Lender shall have all the rights and remedies of a secured party under the Uniform Commercial Code.
UCC REMEDIES. With respect to all or any part of the Personal Property, Lender shall have all the rights and remedies of a secured party under the Uniform Commercial Code. COLLECT RENTS. Lender shall have the right, without notice to Grantor, to take possession of an manage the Property and collect the Rents, including the amounts past due and unpaid, and apply the net proceeds, over and above Lender's costs, against the Indebtedness. In furtherance of this right, Lender may require any tenant or other user of the Property to make payments of rent or use fees directly to Lender. If the Rents are collected by Lender, then Grantor irrevocably designates Lender as Grantor's attorney in fact to endorse instruments received in payment thereof in the name of Grantor and to negotiate the same and collect the proceeds. Payments by tenants or other users to Lender in response to Lender's demand shall satisfy the obligations for which the payments are made, whether or not any proper grounds for the demand existed. Lender may exercise its rights under this subparagraph either in person, by agent, or through a receiver. APPOINT RECEIVER. Lender shall have the right to have a receiver appointed to take possession of all or any part of the Property, with the power to protect and preserve the 13 Loan No. (Continued) Property, to operate the Property preceding foreclosure or sale, and to collect the Rents from the Property and apply the proceeds, over and above the cost of the receivership, against the indebtedness. The receiver may serve without bond if permitted by law. Lender's right to the appointment of a receiver shall exist whether or not the apparent value of the Property exceeds the Indebtedness by a substantial amount. Employment by Lender shall not disqualify a person from serving as a receiver.

Examples of UCC REMEDIES in a sentence

  • Remedies for Breach: Common Law versus UCC Remedies (Read: R.E. Davis Chemical Corp.

  • UCC Remedies: Seller’s Remedies When the Buyer is in Breach.Class 13Warkentine, Chapter 14Sales ProblemsExploring Article 2.Class 14ReviewSales Problems (cont’d) EXAMINATIONS AND GRADING:1.

  • UCC Remedies for Breach of Contract for the Sale of GoodsThe Uniform Commercial Code provides special rules for breaches of contracts involving the sale of goods.

  • UCC Remedies: Seller’s Remedies When the Buyer is in Breach.Week 13Warkentine, Chapter 14Sales ProblemsExploring Article 2.Week 14ReviewSales Problems (cont’d) EXAMINATIONS AND GRADING:1.

  • Washington Square Press 738Key Concepts 738Supplements Online 738Questions for Review 739Problem Solving and Analysis 739 31 UCC Remedies 743A.

  • Section 10.1 Events of Default 35 Section 10.2 Acceleration of Term Loan 37 Section 10.3 UCC Remedies 37 Section 10.4 Default Rate of Interest 38 Section 10.5 Application of Proceeds.

  • All of the elements of Va and all of the bias vectors were initialized to zero.

Related to UCC REMEDIES

  • Permitted Remedies means, with respect to any securities, one or more of the following remedies:

  • Remedies means actions designed to restore or preserve the complainant’s equal access to education after a respondent is found responsible. Remedies may include the same individualized services that constitute supportive measures, but need not be non-punitive or non-disciplinary, nor must they avoid burdening the respondent.

  • Required Percentage-Remedies shall be 66-2/3% of the aggregate Voting Rights.

  • Exercise of Secured Creditor Remedies means, except as otherwise provided in the final sentence of this definition:

  • Forbearance Default means: (A) the failure of the Company to provide the Noteholder Group and its financial advisors with reasonable access, as determined by the Noteholder Group in its reasonable discretion, to its Chief Executive Officer, other senior executives and outside advisors, including representatives of Xxxxx Xxxxx Xxxxxx that are working with the Company, and to provide the Noteholder Group and its legal and financial advisors with any and all due diligence information they may reasonably request, including, without limitation, the Company’s current 13-week cash flow schedule, and all updates thereto as soon as reasonably practicable after they are prepared, but in no event no later than two (2) business days thereafter; (B) the failure of the Company to engage in good faith negotiations with the Noteholder Group regarding a potential restructuring transaction, which determination shall be made by the Noteholder Group in its reasonable discretion; (C) the failure of the Company to promptly notify the Noteholder Group of the occurrence of a Forbearance Default (as defined in the DDJ Third Amended Forbearance Agreement) under the DDJ Third Amended Forbearance Agreement or any amendment or modification to the DDJ Third Amended Forbearance Agreement; (D) termination of the DDJ Third Amended Forbearance Agreement; (E) the execution of any amendment or modification to the DDJ Third Amended Forbearance Agreement, which amendment or modification has a material adverse effect on the Noteholder Group as determined by the Noteholder Group in its reasonable discretion; (F) termination by the Company of the Xxxxxx Engagement Letter or the failure of the Company to pay Xxxxxx’x fees, expenses and indemnity in accordance with the terms of the Xxxxxx Engagement Letter; (G) the occurrence of any Event of Default that is not a Specified Existing Default; (H) the failure of the Company to comply with any term, condition, covenant or agreement set forth in this Third Amended Forbearance Agreement; (I) the failure of any representation or warranty made by the Company under this Third Amended Forbearance Agreement to be true and correct in all material respects as of the date when made; (J) the commencement by or against the Company or any of the Subsidiaries of a case under title 11 of the United States Code; or (K) the commencement of any action or proceeding by any creditor of the Company or any of the Subsidiaries seeking to attach or take similar action against the assets of the Company or the Subsidiaries. Any Forbearance Default shall constitute an immediate Event of Default under the Indenture.

  • Remedy means any remedial right to which an aggrieved party is entitled with or without resort to a tribunal.

  • Exercise Any Secured Creditor Remedies or “Exercise of Secured Creditor Remedies” shall mean, except as otherwise provided in the final sentence of this definition:

  • Breach of trust means a breach of any duty imposed on a trustee by this Act or by the terms of the trust;

  • Events of Default has the meaning specified in Section 6.01.

  • Event of Eminent Domain means, with respect to any property, (a) any compulsory transfer or taking by condemnation, seizure, eminent domain or exercise of a similar power, or transfer under threat of such compulsory transfer or taking or confiscation of such property or the requisition of the use of such property, by any agency, department, authority, commission, board, instrumentality or political subdivision of any state, the United States or another Governmental Authority having jurisdiction or (b) any settlement in lieu of any of the actions described in clause (a) above.

  • Breach of Agreement provisions of Section 5(a)(ii) will apply to Party A and will not apply to Party B.

  • Customer Default shall have the meaning set forth in Section 11.1.

  • Specified Event of Default means an Event of Default under Section 7.01(a), (b), (h) or (i).

  • PTC Event of Default means, with respect to each Trust Agreement, the failure to pay within 10 Business Days after the due date thereof: (i) the outstanding Pool Balance of the applicable Class of Certificates on the Final Legal Distribution Date for such Class or (ii) interest due on such Certificates on any Distribution Date (unless the Subordination Agent shall have made an Interest Drawing or a withdrawal from the Cash Collateral Account relating to a Liquidity Facility for such Class, with respect thereto in an aggregate amount sufficient to pay such interest and shall have distributed such amount to the Trustee entitled thereto).

  • Owner Event of Default shall have the meaning set forth in Section 12.3 hereof

  • Default Rights has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable.

  • Note Event of Default means any “Event of Default” specified in Section 5.1 of the Indenture.

  • Perfection Representations means the representations, warranties and covenants set forth in Schedule 1 attached hereto.

  • Collateral Event of Default has the meaning set forth in Section 13.01(b).

  • Bond Event of Default means the occurrence of any of the following (or such event or condition which with notice or lapse of time or both would constitute any of the following):

  • Bankruptcy Event of Default means any Event of Default under Section 8.01(f) of the Credit Agreement.

  • Landlord Default shall have the meaning given such term in Article 14.

  • Event of Default has the meaning specified in Section 8.01.