OF THE COMPANY SHALL AUTOMATICALLY BECOME
DUE AND PAYABLE, WITHOUT PRESENTMENT FOR PAYMENT, DEMAND, NOTICE OF NON-PAYMENT,
PROTEST, NOTICE OF PROTEST, NOTICE OF INTENT TO ACCELERATE, NOTICE OF
ACCELERATION, MATURITY, OR ANY OTHER NOTICES OR REQUIREMENTS OF ANY KIND TO THE
COMPANY OR ANY OTHER PERSON LIABLE THEREON OR WITH RESPECT THERETO, ALL OF WHICH
ARE HEREBY EXPRESSLY WAIVED BY THE COMPANY.
(B)
UPON THE OCCURRENCE OF ANY EVENT OF DEFAULT, OTHER THAN THOSE
DESCRIBED IN SECTIONS 8.1(E), 8.1(F), 8.1(H) OR 8.1(K), THE LENDER MAY, BY
WRITTEN NOTICE TO THE COMPANY, TERMINATE THE COMMITMENT AND/OR DECLARE ALL
UNPAID AND ACCRUED OBLIGATIONS OF THE COMPANY TO BE IMMEDIATELY DUE AND PAYABLE,
WHEREUPON THE SAME SHALL FORTHWITH BECOME DUE AND PAYABLE, TOGETHER WITH ALL
ACCRUED AND UNPAID INTEREST THEREON, AND THE OBLIGATION OF THE LENDER TO MAKE
ANY ADVANCES SHALL THEREUPON TERMINATE.
(C)
UPON THE OCCURRENCE OF ANY EVENT OF DEFAULT, THE LENDER MAY ALSO
DO ANY OF THE FOLLOWING:
(1)
FORECLOSE UPON OR OTHERWISE ENFORCE ITS SECURITY INTEREST IN AND
LIEN ON THE COLLATERAL TO SECURE ALL PAYMENTS AND PERFORMANCE OF OBLIGATIONS OF
THE COMPANY IN ANY MANNER PERMITTED BY LAW OR PROVIDED FOR HEREUNDER.
(2)
NOTIFY ALL OBLIGORS, SERVICERS OR OTHER PERSONS IN RESPECT OF THE
COLLATERAL THAT THE COLLATERAL HAS BEEN ASSIGNED TO THE LENDER AND THAT ALL
PAYMENTS THEREON ARE TO BE MADE DIRECTLY TO THE LENDER OR SUCH OTHER PARTY AS
MAY BE DESIGNATED BY THE LENDER; SETTLE, COMPROMISE, OR RELEASE, IN WHOLE OR IN
PART, ANY AMOUNTS OWING ON THE COLLATERAL, ANY SUCH OBLIGOR OR ANY INVESTOR OR
ANY PORTION OF THE COLLATERAL, ON TERMS ACCEPTABLE TO THE LENDER; ENFORCE
PAYMENT AND PROSECUTE ANY ACTION OR PROCEEDING WITH RESPECT TO ANY AND ALL
COLLATERAL; AND WHERE ANY SUCH COLLATERAL IS IN DEFAULT, FORECLOSE ON AND
ENFORCE SECURITY INTERESTS IN, SUCH COLLATERAL BY ANY AVAILABLE JUDICIAL
PROCEDURE OR WITHOUT JUDICIAL PROCESS AND SELL PROPERTY ACQUIRED AS A RESULT OF
ANY SUCH FORECLOSURE.
(3)
ACT, OR CONTRACT WITH A THIRD PERSON TO ACT, AS SERVICER OR
SUBSERVICER OF EACH ITEM OF COLLATERAL REQUIRING SERVICING AND PERFORM ALL
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OBLIGATIONS REQUIRED IN CONNECTION WITH PURCHASE COMMITMENTS, SUCH THIRD PARTY'S
FEES TO BE PAID BY THE COMPANY.
(4)
REQUIRE THE COMPANY TO ASSEMBLE THE COLLATERAL AND/OR BOOKS AND
RECORDS RELATING THERETO AND MAKE SUCH AVAILABLE TO THE LENDER AT A PLACE TO BE
DESIGNATED BY THE LENDER.
(5)
ENTER ONTO PROPERTY WHERE ANY COLLATERAL OR BOOKS AND RECORDS
RELATING THERETO ARE LOCATED AND TAKE POSSESSION THEREOF WITH OR WITHOUT
JUDICIAL PROCESS.
(6)
PRIOR TO THE DISPOSITION OF THE COLLATERAL, PREPARE IT FOR
DISPOSITION IN ANY MANNER AND TO THE EXTENT THE LENDER DEEMS APPROPRIATE.
(7)
EXERCISE ALL RIGHTS AND REMEDIES OF A SECURED CREDITOR UNDER THE
UNIFORM COMMERCIAL CODE OF TEXAS OR OTHER APPLICABLE LAW, INCLUDING, BUT NOT
LIMITED TO, SELLING OR OTHERWISE DISPOSING OF THE COLLATERAL, OR ANY PART
THEREOF, AT ONE OR MORE PUBLIC OR PRIVATE SALES, WHETHER OR NOT SUCH COLLATERAL
IS PRESENT AT THE PLACE