Example ContractsClausespreservation of collateralVariants
Preservation of Collateral
Preservation of Collateral contract clause examples

Preservation of Collateral. Following the occurrence and during the continuation of an Event of Default and in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: # may at any time take such steps as Agent deems necessary to protect Agent's interest in and to preserve the Collateral, including the hiring of security guards or the placing of other security protection measures as Agent may deem appropriate; # may employ and maintain at any of any Credit Party's premises a custodian who shall have full authority to do all acts necessary to protect Agent's interests in the Collateral; # may lease warehouse facilities to which Agent may move all or part of the Collateral; and # shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of Credit Parties' owned or leased property. Each Credit Party shall cooperate fully with all of Agent's efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent's expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers' Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Preservation of Collateral. 1">Following the occurrence and during the continuation of1">If an Event of Default 3">has occurred and5"> is continuing, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: # may at any time take such steps as Agent deems necessary to protect 7">Agent'7">Agent’s interest in and to preserve the Collateral, including the hiring of security guards or the placing of other security protection measures as Agent may deem 9">appropriate;9">appropriate in good faith; # may employ and maintain at any of any 11">Credit Party'11">Loan Party’s premises a custodian who shall have full authority to do all acts necessary to protect 13">Agent'13">Agent’s interests in the Collateral;15"> and # may lease warehouse facilities to which Agent may move all or part of17"> the Collateral; # may use any Loan Party’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and # shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any 19">of Credit Parties'19">Loan Party’s owned or leased 21">property.21">property where the Collateral is located. Each 23">Credit23">Loan Party shall cooperate fully with all of 25">Agent'25">Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of 27">Agent'27">Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to 29">Borrowers'29">Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Preservation of Collateral. Following the occurrence and 1">during the continuation1">continuance of an Event of Default and3"> the demand by Agent for payment of all Obligations due and owing, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: # may at any time take such steps as Agent deems necessary to protect 5">Agent'5">Agent’s interest in and to preserve the Collateral, including the hiring of security guards or the placing of other security protection measures as Agent may deem appropriate; # may employ and maintain at any of any 7">Credit Party'7">Borrower’s premises a custodian who shall have full authority to do all acts necessary to protect 9">Agent'9">Agent’s interests in the Collateral; # may lease warehouse facilities to which Agent may move all or part of11"> the Collateral; # may use any Borrower’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and # shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of 13">Credit Parties'13">Borrowers’ owned or leased property. Each 15">Credit Party15">Borrower shall cooperate fully with all of 17">Agent'17">Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of 19">Agent'19">Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to 21">Borrowers'21">Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.

Preservation of Collateral. Following the occurrence 1">and during the continuation of3"> a Default or an Event of 5">Default and5">Default, in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: # may at any time take such steps as Agent deems necessary to protect 7">Agent'7">Agent’s interest in and to preserve the Collateral, including the hiring of security guards or the placing of other security protection measures as Agent may deem appropriate; # may employ and maintain at any of any 9">Credit Party'9">Loan Party’s premises a custodian who shall have full authority to do all acts necessary to protect 11">Agent'11">Agent’s interests in the Collateral; # may lease warehouse facilities to which Agent may move all or part of13"> the Collateral; # may use any Loan Party’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and # shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of 15">Credit Parties'15">Loan Parties’ owned or leased property. Each 17">Credit17">Loan Party shall cooperate fully with all of 19">Agent'19">Agent’s efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of 21">Agent'21">Agent’s expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to 23">Borrowers'23">Borrowers’ Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the 25">Obligations.25">Obligations as provided for in [Section 2.23]; provided that, promptly following any such demand and/or charge (and in no event later than the next delivery of the statement of account provided for in [Section 2.10] hereof), Agent shall provide Borrowers with a reasonable description of such charges, expenses and fees so demanded and/or charged.

Preservation of Collateral. Following the occurrence and during the 1">continuation1">continuance of an Event of Default3"> and in addition to the rights and remedies set forth in Section 11.1 hereof, Agent: # may at any time take such steps as Agent deems necessary to protect 5">Agent'5">Agent’s interest in and to preserve the Collateral, including the hiring of7"> such security guards or the placing of other security protection measures as Agent may deem appropriate; # may employ and maintain at any of any 9">Credit Party'9">Borrower’s premises a custodian who shall have full authority to do all acts necessary to protect 11">Agent'11">Agent’s interests in the Collateral; # may lease warehouse facilities to which Agent may move all or part of13"> the Collateral; # may use any Borrower’s owned or leased lifts, hoists, trucks and other facilities or equipment for handling or removing the Collateral; and # shall have, and is hereby granted, a right of ingress and egress to the places where the Collateral is located, and may proceed over and through any of 15">Credit Parties'15">Borrowers’ owned or leased property. Each 17">Credit Party17">Borrower shall 19">cooperate fully with all of Agent's efforts to preserve the Collateral and will take such actions to preserve the Collateral as Agent may direct. All of Agent's expenses of preserving the Collateral, including any expenses relating to the bonding of a custodian, shall be charged to Borrowers' Account as a Revolving Advance maintained as a Domestic Rate Loan and added to the Obligations.19">074658.01845/123458281v.1

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