Common use of Marshaling of Assets Clause in Contracts

Marshaling of Assets. Lender has no obligation whatsoever to proceed first against any of the Collateral or any Guarantor before proceeding against any other of the Collateral, other Guarantor or other collateral for the Debt. It is expressly understood and agreed that all of the Collateral stands as equal security for the Debt and that Lender has the right to proceed against or dispose of any/or all of the Collateral or other collateral in any order as Lender, in its sole discretion, determines.

Appears in 2 contracts

Samples: Revolving Loan and Security Agreement (K Tronik International Corp), Revolving Loan and Security Agreement (Integrated Biopharma Inc)

AutoNDA by SimpleDocs

Marshaling of Assets. Lender has no obligation whatsoever to proceed first against any of the Collateral or any Guarantor guarantor before proceeding against any other of the Collateral, other Guarantor or other collateral for the Debt. It is expressly understood and agreed that all of the such Collateral stands as equal security for the Debt and that Lender has the right to proceed against or dispose of sell any/or all of the Collateral or other collateral in any order as Lender, in its sole discretion, determines.

Appears in 1 contract

Samples: Loan and Security Agreement (Osteotech Inc)

AutoNDA by SimpleDocs

Marshaling of Assets. Lender has no obligation whatsoever to proceed first against any of the Collateral or any Guarantor before proceeding against any other of the Collateral, other Guarantor Collateral or other collateral for the Debt. It is expressly understood and agreed that all of the Collateral stands as equal security for the Debt and that Lender has the right to proceed against or dispose of any/or all of the Collateral or other collateral in any order as Lender, in its sole discretion, determines. (35) Section 11.4 is hereby amended to read as follows:

Appears in 1 contract

Samples: Loan and Security Agreement (Osteotech Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!