Common use of Exercise of rights by Secured Party Clause in Contracts

Exercise of rights by Secured Party. If the Secured Party exercises a right, power or remedy25 in connection with this document, that exercise is taken not to be an exercise of a right, power or remedy under the PPSA unless the Secured Party states otherwise at the time of exercise. However, this clause does not apply to a right, power or remedy which can only be exercised under the PPSA.

Exercise of rights by Secured Party. If the Secured Party exercises a right, power or remedy25 remedy in connection with this document, that exercise is taken not to be an exercise of a right, power or remedy under the PPSA unless the Secured Party states otherwise at the time of exercise. However, this clause does not apply to a right, power or remedy which can only be exercised under the PPSA.

Exercise of rights by Secured Party. If the Secured Party exercises a right, power or remedy25 remedy in connection with this documentagreement, that exercise is taken not to be an exercise of a right, power or remedy under the PPSA unless the Secured Party states otherwise at the time of exercise. However, this clause does not apply to a right, power or remedy which can only be exercised under the PPSA.

Exercise of rights by Secured Party. (1) If the Secured Party exercises a right, power or remedy25 remedy in connection with this document, that exercise is taken not to be an exercise of a right, power or remedy under the PPSA unless the Secured Party states otherwise at the time of exercise. However, this clause does not apply to a right, power or remedy which can only be exercised under the PPSA.