Section 7.07 UDC Rights. The creditor may exercise all the rights and remedies of a party secured under the UCC. Except as expressly provided in the Loan Documents or UCC, the Lender may enforce its rights under this Agreement without notice and without complying with any other condition precedent imposed now or hereunder by law, the rule of law or otherwise (which the Borrower expressly waives to the fullest extent permitted by law). The Lender may purchase the Guarantee in whole or in part at a public sale conducted in accordance with the CDU and as set forth herein. Section 8.06 Strict Seizure. The Lender may, at its discretion, negotiate a strict foreclosure agreement with the Borrower or submit a strict foreclosure proposal to the Borrower to retain security for the full or partial settlement of the Obligations in accordance with the procedures set forth in Sections 9-620 of the UCC. The borrower and each pledged entity shall cooperate fully, at their own expense, on all matters that the creditor reasonably deems necessary to facilitate the transfer of ownership of the relevant pledged entity`s records in accordance with the applicable requirements of the relevant documents or mortgage loan documents of that pledged entity under a strict enforcement agreement or strict enforcement proposal. Such cooperation includes all efforts made by the borrower to assist the lender in obtaining the necessary verifications, approvals and other administrative actions from the secured entity or mortgage lender. Such assistance shall include, at the request of the lender, (i) participation in all meetings with such third parties and the provision of all related financial and operational documents and materials, and (ii) the provision of such assurances and the signing of documentation as may be required by such third parties or the creditor to effect such transfer. The Lender shall have no obligation to manage any assets for the benefit of the Borrower or any other party or against or for the payment of all or part of the Borrower`s obligations under this Agreement, the Loan Agreement, the Debenture or any other lending document.
To the extent that the Borrower makes one or more payments to the Lender to the Borrower, the payment or proceeds of which or any part thereof must subsequently be declared invalid, fraudulent or promoted, cancelled or refunded to a trustee, receiver or other party under bankruptcy, federal or state law, a common law or a fair cause; Then, to the extent of the payment or product received, the borrower`s obligations (or part thereof) to be fulfilled will be reinstated and will remain in full force and effect, as if such payment or product had not been received by the lender. (d) Borrower hereby expressly waives the right to receive communications from Lender regarding matters for which this Agreement does not expressly and expressly provide notice from Lender to Borrower. No release of security for the loan or one or more extensions of time for payment of the Debenture or any instalment payment, and no modification, supplement or waiver of any provision of this Agreement, the Debenture or any other lending document entered into by agreement between the Lender or any other person shall be released, modified, supplemented, to the responsibility of the borrower or any other person. waive, extend, modify, release, terminate or influence any person who may be liable for payment of all or part of the loan under the Debenture, this Agreement or the other loan documents. Section 3.10 Security right against third parties. On the effective date of this Agreement, the Lender shall have a valid, perfect and continuous first lien and security interest in the Guarantee in respect of all security held by the Borrower at the Closing Date and shall have a valid, perfect and continuous first lien and security interest in the Guarantee in respect of any other property acquired by the Borrower and pledged to the Lender as warranty. All deeds of assignment are properly executed and give the lender the authority to: A security arrangement may also be used if there are two different types of pledges; Security interests and movable property. This type of arrangement can occur when the pledged object has value but tends not to be easily liquidated. If someone needs money quickly, they could opt for this type of loan as opposed to a standard installment loan because they have nothing worth taking out a loan at the moment. (a) sell, assign, pledge, grant, except as expressly permitted under the loan documents, transfer, dispose of or otherwise encumber the Guarantee or any part thereof, including the conclusion of a hold or other arrangement with respect to the Guarantee; 4. No Liability.
All pledged equity has been duly approved and validly issued and is fully paid and non-taxable and is not subject to any call option or similar rights of anyone. The Borrower is not and will not become a party to any agreement other than this Agreement that in any way restricts the rights of any present or future holder of the pledged equity in this regard. Section 3.12 Securitized Securities. The borrower represents and warrants that all holdings will be issued in the form of securitized securities and will constitute a “security” within the meaning of Article 8 of the UCC. The Borrower further undertakes and agrees that it will not authorize any pledged entity to convert existing interests or issue new interests, except as securitized securities. Notwithstanding the foregoing, the Borrower shall promptly notify the Lender if an interest in a pledged entity (whether now owned by the Borrower or subsequently acquired by the Borrower) is not demonstrated by a securitized security and shall immediately thereafter take all necessary steps to safeguard the Lender`s interest in such interest in accordance with applicable law. development, as required herein. The Borrower further agrees to take such additional steps as the Lender deems necessary or desirable to achieve the foregoing and to allow the Lender to exercise its rights and remedies hereunder and agrees to promptly issue such advice from legal counsel at the request of the Lender as may be appropriate for the Lender with respect to such pledge of interest, which are not securitized securities, is satisfactory. (d) enter into or influence any renewal, subordination, reorganization, deposit, merger or consolidation agreement or any other arrangement relating to, in connection with and in connection with the Guarantee to deposit or relinquish control of such Guarantee, and accept other property in exchange for and retain such property or monies so obtained in accordance with the terms of this Agreement; and apply; and All collateral provided to the Lender at any time under this Agreement shall be held by the Lender in accordance with the terms, obligations and terms set forth in the loan documents. Neither the lender nor the directors, officers, agents, employees or attorneys of the lender shall be liable for any action taken or omitted by such party or parties with respect to any of the guarantees, except for their own gross negligence or willful misconduct of such party or parties.