Common use of Administrative Agent not Bound to Exhaust Recourse Clause in Contracts

Administrative Agent not Bound to Exhaust Recourse. The Administrative Agent shall not be bound to pursue or exhaust its recourse against any particular Obligor or others or any security or other guarantees it may at any time hold before being entitled to payment hereunder from the Borrower to enforce its rights against the Borrower under the Security Documents to which the Borrower is a party.

Administrative Agent not Bound to Exhaust Recourse. The Administrative Agent shall not be bound to pursue or exhaust its recourse against any particular Obligor or others or any security or other guarantees it may at any time hold before being entitled to payment hereunder from the Parent or any Borrower to enforce its rights against the Parent or any Borrower under the Security Documents to which the Parent or any Borrower is a party.