Common use of Cumulative Remedies; No Prior Recourse to Collateral Clause in Contracts

Cumulative Remedies; No Prior Recourse to Collateral. The enumeration herein of the Agent's rights and remedies is not intended to be exclusive, and such rights and remedies are in addition to and not by way of limitation of any other rights or remedies that the Agent may have under the UCC or other applicable law. The Agent shall have the right, in its sole discretion, to determine which rights and remedies are to be exercised and in which order. The exercise of one right or remedy shall not preclude the exercise of any others, all of which shall be cumulative. The Agent may, without limitation, proceed directly against the Borrowers or either of them to collect the Obligations without any prior recourse to the Collateral.

Appears in 2 contracts

Samples: Loan and Security Agreement (Trend Lines Inc), Loan and Security Agreement (Trend Lines Inc)

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Cumulative Remedies; No Prior Recourse to Collateral. The enumeration herein of the Agent's rights and remedies is not intended to be exclusive, and such rights and remedies are in addition to and not by way of limitation of any other rights or remedies that the Agent may have under the UCC or other applicable law. The Agent shall have the right, in its sole discretion, to determine which rights and remedies are to be exercised and in which order. The exercise of one right or remedy shall not preclude the exercise of any others, all of which shall be cumulative. The Agent may, without limitation, proceed directly against the Borrowers or either of them Borrower to collect the Obligations without any prior recourse to the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Woodworkers Warehouse Inc)

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Cumulative Remedies; No Prior Recourse to Collateral. The enumeration herein of the Agent's and Lenders' rights and remedies is not intended to be exclusive, and such rights and remedies are in addition to and not by way of limitation of any other rights or remedies that the Agent and Lenders may have under the UCC or other applicable law. The Agent shall have the right, in its sole discretion, to determine which rights and remedies are to be exercised and in which order. The exercise of one right or remedy shall not preclude the exercise of any others, all of which shall be cumulative. The Agent and Lenders may, without limitation, proceed directly against the Borrowers or either of them Borrower to collect the Obligations without any prior recourse to the Collateral.

Appears in 1 contract

Samples: Loan and Security Agreement (Country Star Restaurants Inc)

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