Common use of Dealing with the Collateral Clause in Contracts

Dealing with the Collateral. The Secured Party may, at the Secured --------------------------- Party's option, after any Default, demand, xxx for, collect or make any compromise or settlement the Secured Party deems necessary with reference to the Collateral. The Secured Party shall not be obligated to take any steps necessary to preserve any rights in the Collateral against prior parties, all which shall solely be the responsibility of the Debtor.

Dealing with the Collateral. The Secured Party may, at the Secured --------------------------- Party's option, after any Defaultwhether or not the Obligations are due, demand, xxx for, collect or make any compromise or settlement the Secured Party deems necessary with reference to the Collateral. The Secured Party shall not be obligated to take any steps necessary to preserve any rights in the Collateral against prior parties, all which shall solely be the responsibility of the Debtor.