Continuing Collateral. The Bank 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 Debtor's Obligations and Borrower's Obligations and the Bank shall have the right to proceed ▇▇▇▇▇▇▇ 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: Letter of Credit, Loan and Security Agreement (Gse Systems Inc)
Continuing Collateral. The Bank shall be under no obligation to proceed first against (a) any part of the Collateral before proceeding against any other part of the Collateral, (b) any Guarantor before any other Guarantor. It is expressly agreed that all of the Collateral stands as equal security for all Debtor's Obligations Guarantee Liabilities and Borrower's Obligations the other obligations of the Guarantors hereunder and the Bank 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: Guarantee Agreement (Edo Corp)