Concerning the Secured Party Sample Clauses
The "Concerning the Secured Party" clause defines the rights, responsibilities, and protections afforded to the party holding a security interest in collateral under an agreement. Typically, this clause outlines the secured party's authority to enforce its interest, such as the right to take possession of collateral or to receive notice of certain events affecting the security. Its core function is to clarify the legal standing and powers of the secured party, ensuring that their interests are protected and that both parties understand the mechanisms for enforcing security in the event of default or other triggering circumstances.
Concerning the Secured Party. To the extent that the rights, protections and immunities of the Secured Party are not explicitly stated herein, the Secured Party shall enjoy the same rights, protections and immunities afforded to it in the Indenture.
Concerning the Secured Party. To the extent that the rights, protections and immunities of the Secured Party are not explicitly stated herein, the Secured Party shall enjoy the same rights, protections and immunities afforded to it in the PSA.
Concerning the Secured Party. Section 7.01. Duties; Conduct; Protections..............................................................30 Section 7.02. Special Rights............................................................................32 Section 7.03. Release of Certain Security Property......................................................32 Article VIII
Concerning the Secured Party. Section 5.1...
Concerning the Secured Party. (a) The Secured Party may employ agents and attorneys-in-fact in connection herewith and shall not be liable for the negligence or misconduct of any such agents or attorneys-in-fact selected by it in good faith.
(b) The Secured Party shall be entitled to rely upon any written notice, statement, certificate, order or other document or any telephone message believed by it to be genuine and correct and to have been signed, sent or made by the proper person, and, with respect to all matters pertaining to this Security Agreement and its duties hereunder, upon advice of counsel selected by it.
(c) In the event of any conflict between the provisions hereof and the provisions of any other deed of trust, mortgage, security agreement, pledge or instrument of any type in respect of the Collateral, the Secured Party, in its sole discretion, shall select which provision or provisions shall control.
Concerning the Secured Party. (a) The Secured Party shall be deemed to have exercised reasonable care in the custody and preservation of the Pledged Interest in its possession if such Pledged Interest is accorded treatment substantially equivalent to that which the Secured Party, in its individual capacity, accords its own property consisting of similar instruments or interests, it being understood that the Secured Party shall not have responsibility for (i) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relating to any Pledged Interest, whether or not the Secured Party has or is deemed to have knowledge of such matters or (ii) taking any necessary steps to preserve rights against any person with respect to any Pledged Interest.
(b) The Secured Party shall be entitled to rely upon any written notice, statement, certificate, order or other document or any telephone message believed by it to be genuine and correct and to have been signed, sent or made by the proper person, and, with respect to all matters pertaining to this Agreement and its duties hereunder, upon advice of counsel selected by it.
Concerning the Secured Party