OR EXTENDING CREDIT TO OR FOR THE BENEFIT OF
BORROWER UNDER THIS AGREEMENT, UNDER ANY OF THE LOAN DOCUMENTS, OR UNDER ANY
OTHER AGREEMENT BETWEEN BORROWER AND LENDER;
(C)
TERMINATE THIS AGREEMENT AND ANY OF THE OTHER LOAN DOCUMENTS AS TO
ANY FUTURE LIABILITY OR OBLIGATION OF LENDER, BUT WITHOUT AFFECTING ANY OF THE
LENDER'S LIENS IN THE COLLATERAL AND WITHOUT AFFECTING THE OBLIGATIONS;
(D)
SETTLE OR ADJUST DISPUTES AND CLAIMS DIRECTLY WITH BORROWER'S
ACCOUNT DEBTORS FOR AMOUNTS AND UPON TERMS WHICH LENDER CONSIDERS ADVISABLE, AND
IN SUCH CASES, LENDER WILL CREDIT BORROWER'S LOAN ACCOUNT WITH ONLY THE NET
AMOUNTS RECEIVED BY LENDER IN PAYMENT OF SUCH DISPUTED ACCOUNTS AFTER DEDUCTING
ALL LENDER EXPENSES INCURRED OR EXPENDED IN CONNECTION THEREWITH;
(E)
WITHOUT NOTICE TO OR DEMAND UPON BORROWER, MAKE SUCH PAYMENTS AND
DO SUCH ACTS AS LENDER CONSIDERS NECESSARY OR REASONABLE TO PROTECT ITS SECURITY
INTERESTS IN THE BORROWER COLLATERAL.
BORROWER AGREES TO ASSEMBLE THE BORROWER
COLLATERAL IF LENDER SO REQUIRES, AND TO MAKE THE BORROWER COLLATERAL AVAILABLE
TO LENDER AT A PLACE THAT LENDER MAY DESIGNATE WHICH IS REASONABLY CONVENIENT TO
BOTH PARTIES.
BORROWER AUTHORIZES LENDER TO ENTER THE PREMISES WHERE THE
BORROWER COLLATERAL IS LOCATED, TO TAKE AND MAINTAIN POSSESSION OF THE BORROWER
COLLATERAL, OR ANY PART OF IT, AND TO PAY, PURCHASE, CONTEST, OR COMPROMISE ANY
LIEN THAT IN LENDER'S DETERMINATION APPEARS TO CONFLICT WITH THE LENDER'S LIENS
IN AND TO THE BORROWER COLLATERAL AND TO PAY ALL EXPENSES INCURRED IN CONNECTION
THEREWITH AND TO CHARGE BORROWER'S LOAN ACCOUNT THEREFOR.
WITH RESPECT TO ANY
OF BORROWER'S OWNED PREMISES, BORROWER HEREBY GRANTS LENDER A LICENSE TO ENTER
INTO POSSESSION OF SUCH PREMISES AND TO OCCUPY THE SAME, WITHOUT CHARGE, IN
ORDER TO EXERCISE ANY OF LENDER'S RIGHTS OR REMEDIES PROVIDED HEREIN, AT LAW, IN
EQUITY, OR OTHERWISE;
(F)
WITHOUT NOTICE TO BORROWER (SUCH NOTICE BEING EXPRESSLY WAIVED),
AND WITHOUT CONSTITUTING AN ACCEPTANCE OF ANY COLLATERAL IN FULL OR PARTIAL
SATISFACTION OF AN OBLIGATION (WITHIN THE MEANING OF THE CODE), SET OFF AND
APPLY TO THE OBLIGATIONS ANY AND ALL (I) BALANCES AND DEPOSITS OF BORROWER HELD
BY LENDER, OR (II) INDEBTEDNESS AT ANY TIME OWING TO OR FOR THE CREDIT OR THE
ACCOUNT OF BORROWER HELD BY LENDER;
(G)
HOLD, AS CASH COLLATERAL, ANY AND ALL BALANCES AND DEPOSITS OF
BORROWER HELD BY LENDER TO SECURE THE REPAYMENT IN FULL OF ALL OF THE
OBLIGATIONS;
(H)
SHIP, RECLAIM, RECOVER, STORE, FINISH, MAINTAIN, REPAIR, PREPARE FOR
SALE, ADVERTISE FOR SALE, AND SELL (IN THE MANNER PROVIDED FOR HEREIN) THE
BORROWER COLLATERAL.
BORROWER HEREBY GRANTS TO LENDER A LICENSE OR OTHER RIGHT
TO USE, WITHOUT CHARGE, BORROWER'S LABELS, PATENTS, COPYRIGHTS, TRADE SECRETS,
TRADE NAMES, TRADEMARKS, SERVICE MARKS, AND ADVERTISING MATTER, OR ANY PROPERTY
OF A SIMILAR NATURE, AS IT PERTAINS TO THE BORROWER COLLATERAL, IN COMPLETING
PRODUCTION OF, ADVERTISING FOR SALE, AND SELLING ANY BORROWER
62
COLLATERAL AND BORROWER'S RIGHTS UNDER ALL LICENSES AND ALL FRANCHISE AGREEMENTS
SHALL INURE TO LENDER'S BENEFIT;
(I)
SELL THE BORROWER COLLATERAL AT EITHER