Common use of Multiple Collateral Clause in Contracts

Multiple Collateral. (a) No recovery of any judgment by Trustee or Beneficiary and no levy of an execution under any judgment upon the Trust Property or upon any property of Trustor encumbered by any other Collateral Document shall affect in any manner or to any extent the lien of this Hyatt Gaming Deed of Trust upon the Trust Property or any part thereof, and any Liens, rights, powers and remedies of Trustee or Beneficiary shall continue unimpaired until all of the Obligations have been satisfied and indefeasibly paid in full. (b) Trustor agrees that it shall not at any time insist upon, plead, seek or in any manner whatever claim or take any benefit or advantage of a judgment, declaration or a determination that: (i) the Trust Property or any other property of Trustor encumbered by a Transaction Document represents, on an individual basis, an allocable portion of the then outstanding aggregate principal amount of the Subordinated Note or the Obligations; (ii) the lien of this Hyatt Gaming Deed of Trust or of any other Transaction Document has been released, unless the Obligations have been satisfied and indefeasibly paid in full; (iii) a deficiency judgment with respect to any action taken by Trustee or Beneficiary against the Trust Property or any other property of Trustor encumbered by a Transaction Document extinguishes all or any portion of the remaining Obligations, or precludes Trustee or Beneficiary from proceeding against the Trust Property or to satisfy such remaining Obligations; or (iv) Trustee's or Beneficiary's commencement, prosecution, or taking to judgment of any action (including without limitation Trustee's or Beneficiary's acceptance of a deed in lieu of foreclosure) or Trustee's or Beneficiary's application for or use of any remedy (including without limitation the appointment of a receiver for the Trust Property or any other property of Trustor encumbered by a Transaction Document) against the Trust Property or any other property of Trustor encumbered by a Transaction Document precludes or bars Trustee or Beneficiary (under a "single action" rule, "security first" rule or similar rule) from commencing, prosecuting or taking to judgment any other action or applying for or using any remedy against the Trust Property or any other property of Trustor encumbered by a Transaction Document. (v) Beneficiary may, at its option, in such order, and utilizing such combinations of remedies with respect to the Trust Property and/or any other property of Trustor encumbered by a Transaction Document as Beneficiary shall so elect, pursue its remedies against (i) the Trust Property, individually, or any other property of Trustor encumbered by a Transaction Document, individually; (ii) the Trust Property and any combination of any other property of Trustor encumbered by a Transaction Document; (iii) the Trust Property and all of the other property of Trustor encumbered by a Transaction Document; or (iv) all or any combination of any other property of Trustor encumbered by a Transaction Document, in separate proceedings or in one proceeding in any order which Beneficiary deems appropriate.

Multiple Collateral. (a) No recovery of any judgment by Trustee or Beneficiary and no levy of an execution under any judgment upon the Trust Property or upon any property of Trustor Trustors encumbered by any other Collateral Document shall affect in any manner or to any extent the lien of this Hyatt Gaming Deed of Trust upon the Trust Property or any part thereof, and any Liensliens, rights, powers and remedies of Trustee or Beneficiary shall continue unimpaired until all of the Obligations have been satisfied and indefeasibly paid in fullunimpaired. (b) Each Trustor agrees that it shall not at any time insist upon, plead, seek or in any manner whatever claim or take any benefit or advantage of a judgment, declaration or a determination that: (i) the Trust Property or any other property of either Trustor encumbered by a Transaction Document represents, on an individual basis, an allocable portion of the then outstanding aggregate principal amount of the Subordinated Note Notes or the Obligations; (ii) a surplus results from an action taken by Trustee or Beneficiary against the Trust Property or any other property of either Trustor encumbered by a Transaction Document to recover the Obligations or any portion thereof; (iii) the lien of this Hyatt Gaming Deed of Trust or of any other Transaction Document has been released, unless the Obligations have been satisfied and indefeasibly paid in full; (iiiiv) a deficiency judgment with respect to any action taken by Trustee or Beneficiary against the Trust Property or any other property of either Trustor encumbered by a Transaction Document extinguishes all or any portion of the remaining Obligations, or precludes Trustee or Beneficiary from proceeding against the Trust Property or to satisfy such remaining Obligations; or (ivv) Trustee's or Beneficiary's commencement, prosecution, or taking to judgment of any action (including including, without limitation limitation, Trustee's or Beneficiary's acceptance of a deed in lieu of foreclosure) or Trustee's or Beneficiary's application for or use of any remedy (including including, without limitation limitation, the appointment of a receiver for the Trust Property or any other property of either Trustor encumbered by a Transaction Document) against the Trust Property or any other property of either Trustor encumbered by a Transaction Document precludes or bars Trustee or Beneficiary (under a "single action" rule, "security first" rule or similar rule) from commencing, prosecuting or taking to judgment any other action or applying for or using any remedy against the Trust Property or any other property of either Trustor encumbered by a Transaction Document. (vc) Beneficiary may, at its option, in such order, and utilizing such combinations of remedies with respect to the Trust Property and/or any other property of Trustor Trustors encumbered by a Transaction Document as Beneficiary shall so elect, pursue its remedies against (i) the Trust Property, individually, or any other property of Trustor Trustors encumbered by a Transaction Document, individually; (ii) the Trust Property and any combination of any the other property of Trustor Trustors encumbered by a Transaction Document; (iii) the Trust Property and all of the other property of Trustor Trustors encumbered by a Transaction Document; or (iv) all or any combination of any the other property of Trustor Trustors encumbered by a Transaction Document, in separate proceedings or in one proceeding in any order which Beneficiary deems appropriate.

Multiple Collateral. (a) No recovery of any judgment by Trustee or Beneficiary and no levy of an execution under any judgment upon the Trust Property or upon any property of Trustor encumbered by any other Collateral Document shall affect in any manner or to any extent the lien of this Hyatt Gaming Deed of Trust upon the Trust Property or any part thereof, and any Liens, rights, powers and remedies of Trustee or Beneficiary shall continue unimpaired until all of the Obligations have been satisfied and indefeasibly paid in full. (b) Trustor agrees that it shall not at any time insist upon, plead, seek or in any manner whatever claim or take any benefit or advantage of a judgment, declaration or a determination that: (i) the Trust Property or any other property of Trustor encumbered by a Transaction Document represents, on an individual basis, an allocable portion of the then outstanding aggregate principal amount of the Subordinated Note or the Obligations; (ii) the lien of this Hyatt Gaming Deed of Trust or of any other Transaction Document has been released, unless the Obligations have been satisfied and indefeasibly paid in full; (iii) a deficiency judgment with respect to any action taken by Trustee or Beneficiary against the Trust Property or any other property of Trustor encumbered by a Transaction Document extinguishes all or any portion of the remaining Obligations, or precludes Trustee or Beneficiary from proceeding against the Trust Property or to satisfy such remaining Obligations; or (iv) Trustee's or Beneficiary's commencement, prosecution, or taking to judgment of any action (including without limitation Trustee's or Beneficiary's acceptance of a deed in lieu of foreclosure) or Trustee's or Beneficiary's application for or use of any remedy (including without limitation the appointment of a receiver for the Trust Property or any other property of Trustor encumbered by a Transaction Document) against the Trust Property or any other property of Trustor encumbered by a Transaction Document precludes or bars Trustee or Beneficiary (under a "single action" rule, "security first" rule or similar rule) from commencing, prosecuting or taking to judgment any other action or applying for or using any remedy against the Trust Property or any other property of Trustor encumbered by a Transaction Document. (vc) Beneficiary may, at its option, in such order, and utilizing such combinations of remedies with respect to the Trust Property and/or any other property of Trustor encumbered by a Transaction Document as Beneficiary shall so elect, pursue its remedies against (i) the Trust Property, individually, or any other property of Trustor encumbered by a Transaction Document, individually; (ii) the Trust Property and any combination of any other property of Trustor encumbered by a Transaction Document; (iii) the Trust Property and all of the other property of Trustor encumbered by a Transaction Document; or (iv) all or any combination of any other property of Trustor encumbered by a Transaction Document, in separate proceedings or in one proceeding in any order which Beneficiary deems appropriate.

Multiple Collateral. (a) No recovery of any judgment by Trustee or Beneficiary and no levy of an execution under any judgment upon the Trust Property or upon any property of Trustor encumbered by any other Collateral Document shall affect in any manner or to any extent the lien of this Hyatt Gaming Deed of Trust upon the Trust Property or any part thereof, and any Liens, rights, powers and remedies of Trustee or Beneficiary shall continue unimpaired until all of the Obligations have been satisfied and indefeasibly paid in full. (b) Trustor agrees that it shall not at any time insist upon, plead, seek or in any manner whatever claim or take any benefit or advantage of a judgment, declaration or a determination that: (i) the Trust Property or any other property of Trustor encumbered by a Transaction Document represents, on an individual basis, an allocable portion of the then outstanding aggregate principal amount of the Subordinated Note Notes or the Obligations; (ii) the lien of this Hyatt Gaming Deed of Trust or of any other Transaction Document has been released, unless the Obligations have been satisfied and indefeasibly paid in full; (iii) a deficiency judgment with respect to any action taken by Trustee or Beneficiary against the Trust Property or any other property of Trustor encumbered by a Transaction Document extinguishes all or any portion of the remaining Obligations, or precludes Trustee or Beneficiary from proceeding against the Trust Property or to satisfy such remaining Obligations; or (iv) Trustee's or Beneficiary's commencement, prosecution, or taking to judgment of any action (including without limitation Trustee's or Beneficiary's acceptance of a deed in lieu of foreclosure) or Trustee's or Beneficiary's application for or use of any remedy (including without limitation the appointment of a receiver for the Trust Property or any other property of Trustor encumbered by a Transaction Document) against the Trust Property or any other property of Trustor encumbered by a Transaction Document precludes or bars Trustee or Beneficiary (under a "single action" rule, "security first" rule or similar rule) from commencing, prosecuting or taking to judgment any other action or applying for or using any remedy against the Trust Property or any other property of Trustor encumbered by a Transaction Document. (vc) Beneficiary may, at its option, in such order, and utilizing such combinations of remedies with respect to the Trust Property and/or any other property of Trustor encumbered by a Transaction Document as Beneficiary shall so elect, pursue its remedies against (i) the Trust Property, individually, or any other property of Trustor encumbered by a Transaction Document, individually; (ii) the Trust Property and any combination of any other property of Trustor encumbered by a Transaction Document; (iii) the Trust Property and all of the other property of Trustor encumbered by a Transaction Document; or (iv) all or any combination of any other property of Trustor encumbered by a Transaction Document, in separate proceedings or in one proceeding in any order which Beneficiary deems appropriate.

Multiple Collateral. (a) No recovery of any judgment by Trustee or Beneficiary and no levy of an execution under any judgment upon the Trust Property or upon any property of Trustor encumbered by any other Collateral Document shall affect in any manner or to any extent the lien of this Hyatt Gaming Deed of Trust upon the Trust Property or any part thereof, and any Liens, rights, powers and remedies of Trustee or -24- -------------------------------------------------------------------------------- Beneficiary shall continue unimpaired until all of the Obligations have been satisfied and indefeasibly paid in full. (b) Trustor agrees that it shall not at any time insist upon, plead, seek or in any manner whatever claim or take any benefit or advantage of a judgment, declaration or a determination that: (i) the Trust Property or any other property of Trustor encumbered by a Transaction Document represents, on an individual basis, an allocable portion of the then outstanding aggregate principal amount of the Subordinated Note Notes or the Obligations; (ii) the lien of this Hyatt Gaming Deed of Trust or of any other Transaction Document has been released, unless the Obligations have been satisfied and indefeasibly paid in full; (iii) a deficiency judgment with respect to any action taken by Trustee or Beneficiary against the Trust Property or any other property of Trustor encumbered by a Transaction Document extinguishes all or any portion of the remaining Obligations, or precludes Trustee or Beneficiary from proceeding against the Trust Property or to satisfy such remaining Obligations; or (iv) Trustee's or Beneficiary's commencement, prosecution, or taking to judgment of any action (including without limitation Trustee's or Beneficiary's acceptance of a deed in lieu of foreclosure) or Trustee's or Beneficiary's application for or use of any remedy (including without limitation the appointment of a receiver for the Trust Property or any other property of Trustor encumbered by a Transaction Document) against the Trust Property or any other property of Trustor encumbered by a Transaction Document precludes or bars Trustee or Beneficiary (under a "single action" rule, "security first" rule or similar rule) from commencing, prosecuting or taking to judgment any other action or applying for or using any remedy against the Trust Property or any other property of Trustor encumbered by a Transaction Document. (vc) Beneficiary may, at its option, in such order, and utilizing such combinations of remedies with respect to the Trust Property and/or any other property of Trustor encumbered by a Transaction Document as Beneficiary shall so elect, pursue its remedies against (i) the Trust Property, individually, or any other property of Trustor encumbered by a Transaction Document, individually; (ii) the Trust Property and any combination of any other property of Trustor encumbered by a Transaction Document; (iii) the Trust Property and all of the other property of Trustor encumbered by a Transaction Document; or (iv) all or any combination of any other property of Trustor encumbered by a Transaction Document, in separate proceedings or in one proceeding in any order which Beneficiary deems appropriate.