Purchased Assets or from any other election of remedies. Seller recognizes that non-judicial remedies are consistent with the usages of the trade, are responsive to commercial necessity and are the result of a bargain at arm’s length.
Seller shall cause all sums received by it with respect to the Purchased Assets to be deposited in the appropriate Collection Account promptly upon receipt thereof but in no event later than twenty-four (24) hours thereafter. Seller shall be liable to Agent for the amount of all losses, costs and/or expenses (plus interest thereon at a rate equal to the Default Rate) which Agent may sustain or incur in connection with hedging transactions relating to the Purchased Assets, conduit advances and payments for mortgage insurance.
Without limiting the rights of Agent hereto to pursue all other legal and equitable rights available to Agent for Seller’s failure to perform its obligations under this Agreement, Seller acknowledges and agrees that the remedy at law for any failure to perform obligations hereunder would be inadequate and Agent shall be entitled to specific performance, injunctive relief, or other equitable remedies in the event of any such failure. The availability of these remedies shall not prohibit Agent from pursuing any other remedies for such breach, including the recovery of monetary damages.
DELAY NOT WAIVER; REMEDIES ARE CUMULATIVE
No failure on the part of Agent to exercise, and no delay by Agent in exercising, any right, power or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise by Agent of any right, power or remedy hereunder preclude any other or further exercise thereof or the exercise of any other right, power or remedy. All rights and remedies of Agent provided for herein are cumulative and in addition to any and all other rights and remedies provided by law, the Program Documents and the other instruments and agreements contemplated hereby and thereby, and are not conditional or contingent on any attempt by Agent to exercise any of its rights under any other related document. Agent may exercise at any time after the occurrence of an Event of Default one or more remedies permitted hereunder, as it so desires, and may thereafter at any time and from time to time exercise any other remedy or remedies permitted hereunder.
USE OF EMPLOYEE PLAN ASSETS
No assets of an employee benefit plan subject to any provision of ERISA shall be used by any party hereto in a Transaction.
(a) Seller agrees to indemnify and hold harmless each Purchaser, Agent and their Affiliates and their respective officers, directors, employees, agents and advisors (each, an