Changes Regarding Collateral Clause Samples

Changes Regarding Collateral. Any disposition, impairment, acceptance, substitution, release (by operation of law or otherwise), transfer or waiver of, or any other action relating to, any collateral security for the Guaranteed Liabilities or any guaranty thereof; any termination, release, modification, subordination or change of rights to or liens in such collateral security or failures to obtain or perfect (or continue to obtain and perfect) any liens or rights to such collateral security; any sale, foreclosure or other action taken with respect to any such collateral security, including any use, transfer or release of any proceeds thereof, except to the extent that the proceeds are applied to, and reduce, the Guaranteed Liabilities; any consent to the transfer of any such collateral security to any person or entity whomsoever or any sale or disposition of such collateral security; or any other action which affects, alters or impairs any of Lender’s, Guarantor’s, Borrower’s, any other Obligor’s or any other party’s rights in and to such collateral security or any proceeds;