Laserfiche WebLink
collateral under this agn•eement, assignment for the benefit of creditors, or the commencement of <br />proceedings under a bankruptcy or insolvency law by or against the debtor or a guarantor or <br />surety for the debtor; <br />f. If the secured party in good faith deems itself insecure, either because the <br />prospect of payment is impaired, the prospect of performance of any covenant or agreement is <br />impaired or the value or priority of the secured party's security interest is impaired. <br />ARTICLE VIII <br />Remedy <br />Section 8.1. Rights and Remedies of Secured Party <br />Upon the occurrence of any event of default, and at any time thereafter, such default not <br />having previously been cured, the Secured Party may declare the obligations secured hereunder <br />immediately due and payable, and the Secured Party shall have, in addition to all other rights and <br />remedies, the remedies of a Secured Party under ~ 9.1-601, et seq. Such remedies shall include, <br />without limitation: <br />a. The right of the Secw•ed Party to require the Debtor to assemble the collateral and <br />make it available to the secured party at a place designated by the Secured Party that is <br />reasonably convenient to both parties; <br />b. If the Secured Party elects to sell or lease the collateral, and the collateral is not <br />perishable or does not threaten to decline speedily in value or is not of a type customarily sold on <br />a recognized market, the Secured Party, on giving the Debtor not less than five days' written <br />notice of the time and place of any public sale or collateral or of the time after which any private <br />sale or any other intended disposition is to be made, shall have the right to sell or otherwise <br />dispose of the collateral at public or private sale. For the purpose of taking possession of the <br />collateral, the Secured Party shall have the ri~~ht to enter upon, with or without legal process, any <br />premises on which the collateral or any part thereof may be situated, and remove the same <br />therefrom. <br />c. Debtor shall pay to the secured party on demand all expenses, including legal <br />expenses and reasonable attorney's fees, incurred by the Secured Party in protecting or enforcing <br />the obligations and other rights of the Secured Party under this agreement, including its right to <br />take possession of the collateral and proceeds and expenses of holding, preparing for sale, or <br />selling the collateral. <br />Section 8.2. Acceleration Upon Attachment, Levv or Garnishment Upon Debtor's <br />Interest. In the event that any attachment, levy, garnishment or other judicial process be made <br />or directed against the collateral hereunder, the Secured Party may, notwithstanding any other <br />provision or provisions hereof, at its option and without notice, declare to be forthwith due and <br />payable, all unpaid installments of principal or interest. <br />Section 8.3. Remedies Generally; Po~~~er of Sale. Upon the occurrence of any Default <br />and at any time thereafter. the Secured Party shall have all rights and remedies available at law or <br />in equity including, without limitation, the rights and remedies of a secured party under the <br />]0 <br />