Neiman Marcus 2008 Annual Report Download - page 487

calendar quarter of 2006 and (ii) any account established in connection with the establishment of the applicable Permitted
Replacement Credit Card Program prior to the establishment thereof or as promptly thereafter as is reasonably practicable.
ARTICLE V
REMEDIES
Section 5.1. Remedies.
(a) Upon the occurrence and during the continuance of an Event of Default, the Agent may
exercise any or all of the following rights and remedies:
(i) those rights and remedies provided in this Agreement, the Term Loan Credit
Agreement, the Existing Notes Indenture or any other Term Loan/Note Document; provided that this Section 5.1(a) shall not
be understood to limit any rights available to the Agent, the Term Loan Lenders or the Existing Noteholders prior to an Event
of Default;
(ii) those rights and remedies available to a secured party under the UCC (whether or
not the UCC applies to the affected Collateral) or under any other applicable law (including, without limitation, any law
governing the exercise of a bank's right of setoff or bankers' Lien) when a debtor is in default under a security agreement;
(iii) give notice of sole control or any other instruction under any securities account
control agreement and take any action provided therein with respect to the applicable Collateral;
(iv) without notice (except as specifically provided in Section 11.2 or elsewhere herein),
demand or advertisement of any kind to any Grantor or any other Person, enter the premises of any Grantor where any
Collateral is located (through self-help and without judicial process) to collect, receive, assemble, process, appropriate, sell,
lease, assign, grant an option or options to purchase or otherwise dispose of, deliver, or realize upon, the Collateral or any
part thereof in one or more parcels at public or private sale or sales (which sales may be adjourned or continued from time to
time with or without notice and may take place at such Grantor's premises or elsewhere), for cash, on credit or for future
delivery without assumption of any credit risk, and upon such other terms as the Agent may deem commercially reasonable;
and
(v) concurrently with written notice to the Grantors, transfer and register in its name or
in the name of its nominee the whole or any part of the Pledged Collateral, to exchange certificates or instruments
representing or evidencing Pledged Collateral for certificates or instruments of smaller or larger denominations, to exercise
the voting and all other rights as a holder with respect thereto, to collect and receive all cash dividends, interest, principal and
other distributions made thereon and to otherwise act with respect to the Pledged Collateral as though the Agent was the
outright owner thereof.
(b) Each Grantor acknowledges and agrees that the compliance by the Agent, on behalf of the
Secured Parties, with any applicable state or federal law requirements in connection with
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