Examples of Credit Agreement Event of Default in a sentence
If a Credit Agreement Event of Default shall occur, then in addition to having any other right or remedy available at law or in equity, the Agent may proceed under the applicable Uniform Commercial Code and exercise such rights and remedies as may be provided to a secured party by such Uniform Commercial Code with respect to all or any portion of the Trust Property which is personal property (including without limitation taking possession of and selling such property).
Lessee acknowledges and agrees that, upon the occurrence of a Credit Agreement Event of Default and subject to the terms of the Lease, the Agent on behalf of the Lenders shall have the right to exercise any and all of its remedies hereunder as against the Collateral.
The expenses of the Agent incurred in connection with actions undertaken as provided in this Section, together with interest thereon after a Credit Agreement Event of Default at the Overdue Rate from the date of payment by the Agent to the date reimbursed by the Borrower, shall be payable by the Borrower to the Agent on demand.
Guarantor acknowledges and agrees that Funding Corporation has assigned its interest in the Promissory Note to Collateral Agent and upon the occurrence of a Default or a Credit Agreement Event of Default, Collateral Agent may (but shall not be obligated to) take any and all actions which Funding Corporation may take under this Agreement.
If a Credit Agreement Event of Default shall occur and be continuing, the Agent, on behalf of the Lenders, may exercise, in addition to all other rights and remedies granted to them in this Agreement and in any other instrument or agreement securing, evidencing or relating to the Obligations, all rights and remedies of a secured party under the Code.