Common use of Indebtedness of Obligations Absolute Clause in Contracts

Indebtedness of Obligations Absolute. Nothing herein contained shall be construed as limiting the Beneficiary to the collection of any indebtedness of the Trustor to the Beneficiary only out of the income, revenue, rents, issues and profits from the Collateral or as obligating the Beneficiary to delay or withhold action upon any default which may be occasioned by failure of such income or revenue to be sufficient to retire the principal or interest when due on the indebtedness secured hereby. It is expressly understood between the Beneficiary and the Trustor that any indebtedness of the Trustor to the Beneficiary secured hereby shall constitute an absolute, unconditional obligation of the Trustor to pay as provided herein or therein in accordance with the terms of the instrument evidencing such indebtedness in the amount therein specified at the maturity date or at the respective maturity dates of the installments thereof, whether by acceleration or otherwise.

Indebtedness of Obligations Absolute. Nothing herein contained shall be construed as limiting the Beneficiary Lender to the collection of any indebtedness of the Trustor Grantor to the Beneficiary Lender only out of the income, revenue, rents, issues and profits from the Collateral or as obligating the Beneficiary Lender to delay or withhold action upon any default which may be occasioned by failure of such income or revenue to be sufficient to retire the principal or interest when due on the indebtedness secured hereby. It is expressly understood between the Beneficiary Lender and the Trustor Grantor that any indebtedness of the Trustor Grantor to the Beneficiary Lender secured hereby shall constitute an absolute, unconditional obligation of the Trustor Grantor to pay as provided herein or therein in accordance with the terms of the instrument evidencing such indebtedness in the amount therein specified at the maturity date or at the respective maturity dates of the installments thereof, whether by acceleration or otherwise.