Common use of SECURITIES AS COLLATERAL Clause in Contracts

SECURITIES AS COLLATERAL. The Secured Party may at any time, at its option, transfer to itself or any nominee any securities constituting Collateral, receive any income thereon and hold such income as additional Collateral or apply it to the Obligations. Whether or not the Obligations are due, the Secured Party may demand, s▇▇ for, collect, or make any settlement or compromise it deems desirable with respect to the Collateral. Regardless of the adequacy of the Collateral or any other security for the Obligations, any deposits or other sums credited by or due from the Secured Party to the Company may at any time be applied to or set off against any of the Obligations. The Secured Party and all present and future holders of and participants in the Obligations hereby agree that the amount of any such setoff shall be applied as provided in Section 3 hereof.

SECURITIES AS COLLATERAL. The Secured Party may at any time, at its option, transfer to itself or any nominee any securities constituting Collateral, receive any income thereon and hold such income as additional Collateral or apply it to the Obligations. Whether or not the Obligations are due, the Secured Party may demand, s▇▇▇ for, collect, or make any settlement or compromise it deems desirable with respect to the Collateral. Regardless of the adequacy of the Collateral or any other security for the Obligations, any deposits or other sums credited by or due from the Secured Party to the Company may at any time be applied to or set off against any of the Obligations. The Secured Party and all present and future holders of and participants in the Obligations hereby agree that the amount of any such setoff shall be applied as provided in Section 3 hereof.