Common use of Dealing with Clause in Contracts

Dealing with. SECURITY INTEREST any part thereof; We may take and give up any of the security interest (b) you or any other person liable for the Obligations is in or modify or abstain from perfecting or taking advantage default under any other loan, debt or obligation owed to of any of the security interest and otherwise deal with any anyone else; of the security interest as we shall see fit without (c) you fail to perform any of the terms or conditions of this prejudice to your liability or to our rights under this Agreement; Agreement or at law. (d) you become insolvent or the subject of bankruptcy or insolvency proceedings, or commit an act of bankruptcy; 14. PAYMENTS (e) any statement made by you to induce us to extend credit to We shall have the right to appropriate any payment made you was false in any material respect when made, or becomes by you to any of your Obligations as we see fit, and to false; revoke or alter any such appropriation. (f) anyone takes possession of or applies to any court for possession of the Collateral, or anyone claims to have rights 15. DEFINITIONS in the Collateral superior to our rights; In this agreement "you", "your" and "yours" refer to the (g) you are declared incompetent by a court, or you die, or, Customer named above. "We", "our", "ours" and "us" refer if you are a partnership, a partner dies; to The Toronto-Dominion Bank. The "Schedule" means the (h) we believe, on reasonable grounds, that the Collateral, Schedule set out below or attached to this Agreement. The or any part thereof, will decline speedily in value; or terms "accounts", "goods", "instrument", "intangible", (i) any other event occurs which causes us in good faith, to "security", and "future advance" as used herein shall have deem ourselves insecure, or to believe that the Collateral, the same meaning given to those terms in the Personal or any part thereof, or the value thereof, is or is about to Property Security Act. be placed in jeopardy. 16.