Recourse to Security. Recourse to security shall not be required for any Obligation hereunder and each Borrower hereby waives any requirement that the Lender exhaust any right or take any action against any of the Collateral before proceeding to enforce the Obligations against such Borrower.
Appears in 3 contracts
Sources: Loan and Security Agreement (Del Global Technologies Corp), Loan and Security Agreement (Del Global Technologies Corp), Loan and Security Agreement (Del Global Technologies Corp)
Recourse to Security. Recourse to security shall not be required for any Obligation hereunder and each the Borrower hereby waives any requirement that the Lender exhaust any right or take any action against any of the Collateral before proceeding to enforce the Obligations against such the Borrower.
Appears in 3 contracts
Sources: Loan and Security Agreement (Grand Toys International LTD), Loan and Security Agreement (SLM Holdings, Inc.), Loan and Security Agreement (Chi Energy Inc)
Recourse to Security. Recourse to security shall not be required for any Obligation hereunder and each the Borrower hereby waives any requirement that the Lender Agent or the Lenders exhaust any right or take any action against any of the Collateral before proceeding to enforce the Obligations against such the Borrower.
Appears in 3 contracts
Sources: Loan and Security Agreement (American Railcar Industries, Inc.), Loan and Security Agreement (American Railcar Industries, Inc./De), Loan and Security Agreement (American Railcar Industries, Inc./De)