Collect the Collateral Sample Clauses
The 'Collect the Collateral' clause establishes the right and process for a secured party, such as a lender, to take possession of collateral if the borrower defaults on their obligations. In practice, this clause outlines the steps the secured party may take to seize, manage, or sell the collateral, which could include assets like equipment, inventory, or real estate, depending on the agreement. Its core function is to provide a clear mechanism for the lender to recover value and mitigate losses in the event of non-payment or breach by the borrower.
Collect the Collateral. Collect any of the Collateral and, at Lender's option and to the extent permitted by applicable law, retain possession of the Collateral while suing on the Indebtedness.
Collect the Collateral. Collect any of the Collateral and, at ▇▇▇▇▇▇’s option and to the extent permitted by applicable law, retain possession of the Collateral while suing on the Indebtedness.
Collect the Collateral. Collect any of the Collateral and, at Lender's option and to the extent permitted by applicable law, retain possession of the Collateral while suing on the indebtedness. COMMERCIAL PLEDGE AGREEMENT LOAN NO: 67 (CONTINUED) PAGE 3 ================================================================================