Common use of Additional Security, Etc Clause in Contracts

Additional Security, Etc. Without notice to or consent of the Borrower, and without impairment of the liens and rights created by this Security Agreement, Secured Party may accept from the Borrower, or any other Person, additional security for the Secured Obligations. Neither the giving of this Security Agreement nor the acceptance of any such additional security shall prevent Secured Party from resorting first to any such additional security, or first to the liens created by this Security Agreement, without affecting the liens and rights of Secured Party under this Security Agreement.

Appears in 1 contract

Sources: Security Agreement (VelaTel Global Communications, Inc.)

Additional Security, Etc. Without notice to or consent of the Borrower, and without impairment of the liens and rights created by this Security Agreement, Secured Party may accept from the Borrower, or any other Person, additional security for the Secured Obligations. Neither the giving of this Security Agreement nor the acceptance of any such additional security shall prevent Secured Party from resorting first to any such additional security, or first to the liens created by this Security Agreement, without affecting the liens and rights of Secured Party under this Security Agreement.

Appears in 1 contract

Sources: Security Agreement (Varitek Industries Inc)

Additional Security, Etc. Without notice to or consent of the Borrower, and without impairment of the liens and rights created by this Security Agreement, Secured Party may accept from the Borrower, or any other Person, additional security for the Secured Obligations. Neither the giving of this Security Agreement nor the acceptance of any such additional security shall prevent Secured Party from resorting first to any such additional security, or first to the liens created by this Security Agreement, without affecting the liens and rights of Secured Party under this Security Agreement.

Appears in 1 contract

Sources: Security Agreement (Varitek Industries Inc)