Common use of Certain Waivers; etc Clause in Contracts

Certain Waivers; etc. (a) No delay on the part of Brooke in exercising any power of sale, lien, option or other right hereunder, and no notice or demand which may be given to or made upon NVC with respect to any power of sale, lien, option or other right hereunder, shall constitute a waiver thereof, or limit or impair the right of Brooke to take any action or to exercise any power of sale, lien, option or any other right under this Agreement or otherwise, nor shall any single or partial exercise thereof, or the exercise of any power, lien, option or any other right under this Agreement, or otherwise, preclude any other or further exercise thereof all without notice or demand, nor shall any of the same prejudice Brooke's rights against NVC in any respect. (b) Each and every remedy of Brooke shall, to the extent permitted by law, be cumulative and shall be in addition to any other remedy given hereunder or now or hereafter existing at law or in equity or by statute. (c) Brooke shall have no duty or obligation to satisfy the indebtedness secured hereby out of any other property, or pursuant to any other pledge, undertaking or security relating to such indebtedness and may realize on the Collateral and/or any other security available to it in such order or concurrently as it may see fit and Brooke will not be required to take any recourse against NVC or any other person or persons before realizing on the Collateral.

Appears in 1 contract

Sources: Pledge Agreement (New Valley Corp)

Certain Waivers; etc. (a) No delay on the part of Brooke Apollo in exercising any power of sale, lien, option or other right hereunder, and no notice or demand which may be given to or made upon NVC the Delaware LLC with respect to any power of sale, lien, option or other right hereunder, shall constitute a waiver thereof, or limit or impair the right of Brooke Apollo to take any action or to exercise any power of sale, lien, option or any other right under this Agreement or otherwise, nor shall any single or partial exercise thereof, or the exercise of any power, lien, option or any other right under this Agreement, or otherwise, preclude any other or further exercise thereof all without notice or demand, nor shall any of the same prejudice BrookeApollo's rights against NVC the Delaware LLC in any respect. (b) Each and every remedy of Brooke Apollo shall, to the extent permitted by law, be cumulative and shall be in addition to any other remedy given hereunder or now or hereafter existing at law or in equity or by statute. (c) Brooke Apollo shall have no duty or obligation to satisfy the indebtedness secured hereby out of any other property, or pursuant to any other pledge, undertaking or security relating to such indebtedness and may realize on the Collateral and/or any other security available to it in such order or concurrently as it may see fit and Brooke Apollo will not be required to take any recourse against NVC the Delaware LLC or any other person or persons before realizing on the Collateral.

Appears in 1 contract

Sources: Pledge Agreement (New Valley Corp)