Discharge Liens. Secured Party, for the benefit of the holders of the Indebtedness, in its sole and absolute discretion, without waiving or releasing any obligation, liability or duty of Debtor under this Security Agreement or otherwise, may at any time or times hereafter after the occurrence and during the continuation of an Event of Default, but shall be under no obligation to pay, acquire and/or accept an assignment of any security interest, lien, encumbrance or claim asserted by a person against the Collateral. All sums paid by Secured Party in respect thereof and all reasonable costs, fees and expenses, including reasonable attorneys’ fees, court costs, expenses and other charges relating thereto incurred by Secured Party on account thereof shall be payable by the Debtors to Secured Party.
Appears in 3 contracts
Samples: Security Agreement (Malibu Boats, Inc.), Security Agreement (Malibu Boats, Inc.), Security Agreement (Malibu Boats, Inc.)
Discharge Liens. Secured Party, for the benefit of the holders of the Indebtedness, in its sole and absolute discretion, without waiving or releasing any obligation, liability or duty of any Debtor under this Security Agreement or otherwise, may at any time or times hereafter after the occurrence and during the continuation of an Event of Default, but shall be under no obligation to pay, acquire and/or accept an assignment of any security interest, lien, encumbrance or claim asserted by a person against the Collateral. All sums paid by Secured Party in respect thereof and all reasonable costs, fees and expenses, including reasonable attorneys’ fees, court costs, expenses and other charges relating thereto incurred by Secured Party on account thereof shall be payable by the Debtors to Secured Party.
Appears in 2 contracts
Samples: Security Agreement (Malibu Boats, Inc.), Security Agreement (Malibu Boats, Inc.)
