Secured Lender Remedies

Secured Lender Remedies. Shall mean any action which results in the sale, foreclosure, realization upon, or a liquidation of any of the Collateral including, without limitation, the exercise or any of the rights or remedies of a "secured party" under Article 9 of the Uniform Commercial Code, such as, without limitation, the notification of account debtors.

Secured Lender Remedies. Shall mean any action which results in the sale, foreclosure, realization upon, or a liquidation of any of the Collateral including, without limitation, the exercise of any of the rights or remedies of a "secured party" under Article 9 of the Uniform Commercial Code, such as, without limitation, the notification of account debtors; provided that "Secured Lender Remedies" shall not include the delivery of reservation of rights letters and the like, the imposition of default interest in... accordance with the Subordinated Agreements and the taking of steps to preserve and protect the security interests in the Collateral granted in favor, or for the benefit, of the Subordinated Lender (or any agent, representative or trustee on behalf thereof). View More