AGAINST CUSTOMERS
OR OTHER PERSONS OBLIGATED ON COLLATERAL OR TO REMOVE LIENS ON OR ANY ADVERSE
CLAIMS AGAINST COLLATERAL, (IV) TO EXERCISE COLLECTION REMEDIES AGAINST
CUSTOMERS AND OTHER
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PERSONS OBLIGATED ON COLLATERAL DIRECTLY OR THROUGH THE USE OF COLLECTION
AGENCIES AND OTHER COLLECTION SPECIALISTS, (V) TO ADVERTISE DISPOSITIONS OF
COLLATERAL THROUGH PUBLICATIONS OR MEDIA OF GENERAL CIRCULATION, WHETHER OR NOT
THE COLLATERAL IS OF A SPECIALIZED NATURE, (VI) TO CONTACT OTHER PERSONS,
WHETHER OR NOT IN THE SAME BUSINESS AS ANY BORROWER, FOR EXPRESSIONS OF INTEREST
IN ACQUIRING ALL OR ANY PORTION OF SUCH COLLATERAL, (VII) TO HIRE ONE OR MORE
PROFESSIONAL AUCTIONEERS TO ASSIST IN THE DISPOSITION OF COLLATERAL, WHETHER OR
NOT THE COLLATERAL IS OF A SPECIALIZED NATURE, (VIII) TO DISPOSE OF COLLATERAL
BY UTILIZING INTERNET SITES THAT PROVIDE FOR THE AUCTION OF ASSETS OF THE TYPES
INCLUDED IN THE COLLATERAL OR THAT HAVE THE REASONABLE CAPACITY OF DOING SO, OR
THAT MATCH BUYERS AND SELLERS OF ASSETS, (IX) TO DISPOSE OF ASSETS IN WHOLESALE
RATHER THAN RETAIL MARKETS, (X) TO DISCLAIM DISPOSITION WARRANTIES, SUCH AS
TITLE, POSSESSION OR QUIET ENJOYMENT, (XI) TO PURCHASE INSURANCE OR CREDIT
ENHANCEMENTS TO INSURE THE AGENT AGAINST RISKS OF LOSS, COLLECTION OR
DISPOSITION OF COLLATERAL OR TO PROVIDE TO THE AGENT A GUARANTEED RETURN FROM
THE COLLECTION OR DISPOSITION OF COLLATERAL, OR (XII) TO THE EXTENT DEEMED
APPROPRIATE BY THE AGENT, TO OBTAIN THE SERVICES OF OTHER BROKERS, INVESTMENT
BANKERS, CONSULTANTS AND OTHER PROFESSIONALS TO ASSIST THE AGENT IN THE
COLLECTION OR DISPOSITION OF ANY OF THE COLLATERAL.
EACH BORROWER ACKNOWLEDGES
THAT THE PURPOSE OF THIS SECTION 11.1(B) IS TO PROVIDE NON-EXHAUSTIVE
INDICATIONS OF WHAT ACTIONS OR OMISSIONS BY THE AGENT WOULD NOT BE COMMERCIALLY
UNREASONABLE IN THE AGENT'S EXERCISE OF REMEDIES AGAINST THE COLLATERAL AND THAT
OTHER ACTIONS OR OMISSIONS BY THE AGENT SHALL NOT BE DEEMED COMMERCIALLY
UNREASONABLE SOLELY ON ACCOUNT OF NOT BEING INDICATED IN THIS SECTION 11.1(B).
WITHOUT LIMITATION UPON THE FOREGOING, NOTHING CONTAINED IN THIS SECTION 11.1(B)
SHALL BE CONSTRUED TO GRANT ANY RIGHTS TO ANY BORROWER OR TO IMPOSE ANY DUTIES
ON AGENT THAT WOULD NOT HAVE BEEN GRANTED OR IMPOSED BY THIS AGREEMENT OR BY
APPLICABLE LAW IN THE ABSENCE OF THIS SECTION 11.1(B).
(C)
WITH RESPECT TO EXPLORATION AND ANY COLLATERAL HELD OR OWNED BY IT, UPON
THE OCCURRENCE OF AND DURING THE CONTINUANCE OF ANY EVENT OF DEFAULT, AGENT MAY
APPOINT OR REAPPOINT BY INSTRUMENT IN WRITING, ANY PERSON OR PERSONS, WHETHER AN
OFFICER OR OFFICERS OR AN EMPLOYEE OR EMPLOYEES OF AGENT OR NOT, TO BE AN
INTERIM RECEIVER, RECEIVER OR RECEIVERS (HEREINAFTER CALLED A "RECEIVER", WHICH
TERM WHEN USED HEREIN SHALL INCLUDE A RECEIVER AND MANAGER) OF COLLATERAL
(INCLUDING ANY INTEREST, INCOME OR PROFITS THEREFROM) AND MAY REMOVE ANY
RECEIVER SO APPOINTED AND APPOINT ANOTHER IN HIS/HER/ITS STEAD.
ANY SUCH
RECEIVER SHALL, SO FAR AS CONCERNS RESPONSIBILITY FOR HIS/HER/ITS ACTS, BE
DEEMED THE AGENT OF EXPLORATION AND NOT AGENT AND AGENT SHALL NOT BE IN ANY WAY
RESPONSIBLE FOR