Common use of Resort to Any Security Clause in Contracts

Resort to Any Security. Collateral Agent may resort to any security given by this Deed of Trust or to any other security now existing or hereafter given to secure the payment of the Secured Indebtedness, in whole or in part, and in such portions and in such order as may seem best to Collateral Agent in its sole and uncontrolled discretion, and any such action shall not be considered as a waiver of any of the rights, benefits, liens or security interests evidenced by this Deed of Trust, except as may be provided under applicable law.

Appears in 2 contracts

Samples: Security Agreement (Pillowtex Corp), Security Agreement (Pillowtex Corp)

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Resort to Any Security. The Collateral Agent may resort to any security given by this Deed of Trust or to any other security now existing or hereafter given to secure the payment of the Secured Indebtedness, in whole or in part, and in such portions and in such order as may seem best to the Collateral Agent in its sole and uncontrolled discretion, and any such action shall not in anywise be considered as a waiver of any of the rights, benefits, liens or security interests evidenced by this Deed of TrustDeed, except as may be provided to the contrary under applicable lawApplicable Laws.

Appears in 2 contracts

Samples: Security Agreement (Pillowtex Corp), Security Agreement (Pillowtex Corp)

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Resort to Any Security. The Collateral Agent may resort to any security given by this Deed of Trust or to any other security now existing or hereafter given to secure the payment of the Secured Indebtedness, in whole or in part, and in such portions and in such order as may seem best to the Collateral Agent in its sole and uncontrolled absolute discretion, and any such action shall not in any way be considered as a waiver of any of the rights, benefits, liens or security interests evidenced by this Deed of Trust, except as may be provided under applicable law.

Appears in 1 contract

Samples: Pledge Agreement (Stolt Nielsen S A)

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