Common use of Continuing Collateral Clause in Contracts

Continuing Collateral. Lender shall be under no obligation to proceed first against any part of the Collateral before proceeding against any other part of the Collateral. It is expressly agreed that all of the Collateral stands as equal security for all Liabilities and Lender shall have the right to proceed against or sell any and/or all of the Collateral in any order, or simultaneously, as it, in its sole discretion, shall determine.

Appears in 2 contracts

Sources: Loan and Security Agreement (Teardrop Golf Co), Loan and Security Agreement (Congoleum Corp)

Continuing Collateral. Lender shall be under no obligation to proceed first against any part of the Collateral before proceeding against any other part of the Collateral. It is expressly agreed that all of the Collateral stands as equal security for all of the Liabilities and after an Event of Default and so long as such continues Lender shall have the right to proceed against or sell any and/or all of the Collateral in any order, or simultaneously, as it, in its sole discretion, shall determine.

Appears in 1 contract

Sources: Loan and Security Agreement (Cca Industries Inc)

Continuing Collateral. Lender The Agent and the Lenders shall be under no obligation to proceed first against any part of the Collateral before proceeding against any other part of the Collateral. It is expressly agreed that all of the Collateral stands as equal security for all of the Liabilities and Lender the Agent and the Lenders shall have the right to proceed against or sell any and/or all of the Collateral in any order, or simultaneously, as it, in its sole discretion, the Majority Lenders shall determine.

Appears in 1 contract

Sources: Note Purchase Agreement (Biosante Pharmaceuticals Inc)

Continuing Collateral. Lender Creditor shall be under no obligation to proceed first against any part of the Collateral before proceeding against any other part of the Collateral. It is expressly agreed that all of the Collateral stands as equal security for all Liabilities and Lender Creditor shall have the right to proceed against or sell any and/or all of the Collateral in any order, or simultaneously, as it, in its sole discretion, shall determine.

Appears in 1 contract

Sources: Credit and Security Agreement (Northwestern Corp)

Continuing Collateral. Lender The Purchaser shall be under no obligation to proceed first against any part of the Collateral before proceeding against any other part of the Collateral. It is expressly agreed that all of the Collateral stands as equal security for all Liabilities of the Obligations and Lender the Purchaser shall have the right right, after the occurrence and during the continuance of an Event of Default, to proceed against or sell any and/or or all of the Collateral in any order, or simultaneously, as it, in its sole discretion, shall determine.

Appears in 1 contract

Sources: Securities Purchase Agreement (Cornerstone OnDemand Inc)

Continuing Collateral. The Lender shall be under no obligation to proceed first against any part of the Collateral before proceeding against any other part of the Collateral. It is expressly agreed that all of the Collateral stands as equal security for all Liabilities Obligations under the Loan, and the Lender shall have the right to proceed against or sell any and/or all of the Collateral in any order, or simultaneously, as it, in its sole discretion, shall determine.

Appears in 1 contract

Sources: Security Agreement (Performance Health Technologies Inc)