Additional Rights of Secured Party. Secured Party, in its discretion, and without notice to Debtor, may take any one or more of the following actions without liability except to account for property actually received by it: (a) after the occurrence of an Event of Default, unless such Event of Default has been waived in writing by Secured Party, renew, extend, or otherwise change the terms and conditions of any of the Collateral; (b) take or release any other collateral as security for any of the Collateral or the Secured Obligations; and (c) add or release any guarantor, endorser, surety or other party to any of the Collateral or Secured Obligations.
Appears in 3 contracts
Samples: Construction Loan Security Agreement (Ecoscience Corp/De), Term Loan Security Agreement (Ecoscience Corp/De), Line of Credit Security Agreement (Ecoscience Corp/De)
Additional Rights of Secured Party. Secured Party, in its discretion, and without notice to Debtor, may take any one or more of the following actions without liability except to account for property actually received by it: (a) after the occurrence of an Event of Default, unless such Event of Default has been waived in writing by Secured Party, renew, extend, or otherwise change the terms and conditions of any of the Collateral; (b) take or release any other collateral as security for any of the Collateral or the Secured Obligations; and (c) add or release any guarantor, endorser, surety or other party to any of the Collateral or Secured Obligations.
Appears in 2 contracts
Samples: Secured Super Priority Credit Agreement (Sco Group Inc), Secured Super Priority Credit Agreement (Sco Group Inc)
