Common use of No Impairment of Remedies Clause in Contracts

No Impairment of Remedies. If under applicable law, Secured Party proceeds by either judicial foreclosure or by non-judicial sale or enforcement, Secured Party may, at its sole option, determine which of its remedies or rights to pursue without affecting any of its respective rights and remedies under this Agreement. If, by exercising any right and remedy, Secured Party forfeits any of its other rights or remedies, including any right to enter a deficiency judgment against Company or any third party (whether because of any applicable law pertaining to “election of remedies” or the like), Company nevertheless hereby consents to such action by Secured Party. To the extent permitted by applicable law, Company also waives any claim based upon such action, even if such action by Secured Party results in a full or partial loss of any rights of subrogation, indemnification or reimbursement which Company might otherwise have had but for such action by Secured Party or the terms herein. Any election of remedies which results in the denial or impairment of the right of Secured Party to seek a deficiency judgment against any third party shall not, to the extent permitted by applicable law, impair Company’s obligations hereunder. If Secured Party bids at any foreclosure or trustee’s sale or at any private sale permitted by law or this Agreement, Secured Party may bid all or less than the amount of the Obligations. To the extent permitted by applicable law, the amount of the successful bid at any such sale, whether Secured Party or any other party is the successful bidder, shall be conclusively deemed to be the fair market value of the Collateral and any deficiency between such bid amount and the remaining balance of the Obligations shall be conclusively deemed to be the amount of the Obligations.

Appears in 9 contracts

Samples: Security Agreement (CrowdGather, Inc.), Security Agreement (CrowdGather, Inc.), Security Agreement (Sur Ventures, Inc.)

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No Impairment of Remedies. If If, under applicable law, Secured Party proceeds by either judicial foreclosure or by non-judicial sale or enforcement, such Secured Party may, at its sole option, determine which of its remedies or rights to pursue without affecting any of its respective rights and remedies under this Agreement. If, by exercising any right and remedy, Secured Party forfeits any of its other rights or remedies, including any right to enter a deficiency judgment against Company Sutura or any third party (whether because of any applicable law pertaining to “election of remedies” or the like), Company Sutura nevertheless hereby consents to such action by Secured Party. To the extent permitted by applicable law, Company Sutura also waives any claim based upon such action, even if such action by Secured Party results in a full or partial loss of any rights of subrogation, indemnification or reimbursement which Company Sutura might otherwise have had but for such action by Secured Party or the terms herein. Any election of remedies which results in the denial or impairment of the right of Secured Party to seek a deficiency judgment against any third party shall not, to the extent permitted by applicable law, impair CompanySutura’s obligations hereunder. If Secured Party bids at any foreclosure or trustee’s sale or at any private sale permitted by law or this Agreement, Secured Party may bid all or less than the amount of the Obligations. To the extent permitted by applicable law, the amount of the successful bid at any such sale, whether Secured Party or any other party is the successful bidder, shall be conclusively deemed to be the fair market value of the Collateral and any deficiency the difference between such bid amount and the remaining balance of the Obligations shall be conclusively deemed to be the amount of the Obligations.

Appears in 5 contracts

Samples: Fifth Amended Security Agreement (Sutura, Inc.), Fourth Amended Security Agreement (Sutura, Inc.), Fourth Amended Security Agreement (Sutura, Inc.)

No Impairment of Remedies. If under applicable law, Secured Party proceeds by either judicial foreclosure or by non-judicial sale or enforcement, Secured Party may, at its sole option, determine which of its remedies or rights to pursue without affecting any of its respective rights and remedies under this Agreement. If, by exercising any right and remedy, Secured Party forfeits any of its other rights or remedies, including any right to enter a deficiency judgment against Company or any third party (whether because of any applicable law pertaining to "election of remedies" or the like), Company nevertheless hereby consents to such action by Secured Party. To the extent permitted by applicable law, Company also waives any claim based upon such action, even if such action by Secured Party results in a full or partial loss of any rights of subrogation, indemnification or reimbursement which Company might otherwise have had but for such action by Secured Party or the terms herein. Any election of remedies which results in the denial or impairment of the right of Secured Party to seek a deficiency judgment against any third party shall not, to the extent permitted by applicable law, impair Company’s 's obligations hereunder. If Secured Party bids at any foreclosure or trustee’s 's sale or at any private sale permitted by law or this Agreement, Secured Party may bid all or less than the amount of the Obligations. To the extent permitted by applicable law, the amount of the successful bid at any such sale, whether Secured Party or any other party is the successful bidder, shall be conclusively deemed to be the fair market value of the Collateral and any deficiency between such bid amount and the remaining balance of the Obligations shall be conclusively deemed to be the amount of the Obligations.

Appears in 4 contracts

Samples: Security Agreement (CrowdGather, Inc.), Security Agreement (CrowdGather, Inc.), Security Agreement (CrowdGather, Inc.)

No Impairment of Remedies. If under applicable law, Secured Party proceeds Parties proceed by either judicial foreclosure or by non-judicial sale or enforcement, Secured Party Parties may, at its their sole option, determine which of its their remedies or rights to pursue without affecting any of its respective rights and remedies under this Agreement. If, by exercising any right and remedy, Secured Party forfeits Parties forfeit any of its their other rights or remedies, including any right to enter a deficiency judgment against Company Equitex or any third party (whether because of any applicable law pertaining to "election of remedies" or the like), Company Ventures and Equitex nevertheless hereby consents consent to such action by Secured PartyParties. To the extent permitted by applicable law, Company Ventures and Equitex also waives waive any claim based upon such action, even if such action by Secured Party Parties results in a full or partial loss of any rights of subrogation, indemnification or reimbursement which Company Ventures or Equitex might otherwise have had but for such action by Secured Party Parties or the terms herein. Any election of remedies which results in the denial or impairment of the right of Secured Party Parties to seek a deficiency judgment against any third party shall not, to the extent permitted by applicable law, impair Company’s Ventures' or Equitex's obligations hereunder. If Secured Party bids Parties bid at any foreclosure or trustee’s 's sale or at any private sale permitted by law or this Agreement, Secured Party Parties may bid all or less than the amount of the Obligations. To the extent permitted by applicable law, the amount of the successful bid at any such sale, whether Secured Party Parties or any other party is the successful bidder, shall be conclusively deemed to be the fair market value of the Collateral and any deficiency the difference between such bid amount and the remaining balance of the Obligations shall be conclusively deemed to be the amount of the Obligations.

Appears in 2 contracts

Samples: Security Agreement (Seven Ventures Inc), Security Agreement (Equitex Inc)

No Impairment of Remedies. If under applicable law, Secured Party Equitex proceeds by either judicial foreclosure or by non-judicial sale or enforcement, Secured Party Equitex may, at its sole option, determine which of its remedies or rights to pursue without affecting any of its respective rights and remedies under this Agreement. If, by exercising any right and remedy, Secured Party Equitex forfeits any of its other rights or remedies, including any right to enter a deficiency judgment against Company Chex or any third party (whether because of any applicable law pertaining to "election of remedies" or the like), Company Chex nevertheless hereby consents to such action by Secured PartyEquitex. To the extent permitted by applicable law, Company Equitex also waives any claim based upon such action, even if such action by Secured Party Equitex results in a full or partial loss of any rights of subrogation, indemnification or reimbursement which Company Chex might otherwise have had but for such action by Secured Party Equitex or the terms herein. Any election of remedies which results in the denial or impairment of the right of Secured Party Equitex to seek a deficiency judgment against any third party shall not, to the extent permitted by applicable law, impair Company’s Chex's obligations hereunder. If Secured Party Equitex bids at any foreclosure or trustee’s 's sale or at any private sale permitted by law or this Agreement, Secured Party Equitex may bid all or less than the amount of the Obligations. To the extent permitted by applicable law, the amount of the successful bid at any such sale, whether Secured Party Equitex or any other party is the successful bidder, shall be conclusively deemed to be the fair market value of the Collateral and any deficiency the difference between such bid amount and the remaining balance of the Obligations shall be conclusively deemed to be the amount of the Obligations.

Appears in 2 contracts

Samples: Chex Note Security Agreement (Seven Ventures Inc), 16 Chex Note Security Agreement (Equitex Inc)

No Impairment of Remedies. If under applicable law, Secured Party proceeds Parties proceed by either judicial foreclosure or by non-judicial sale or enforcement, Secured Party Parties may, at its their sole option, determine which of its their remedies or rights to pursue without affecting any of its respective their rights and remedies under this Agreement. If, by exercising any right and remedy, Secured Party forfeits Parties forfeit any of its their other rights or remedies, including any right to enter a deficiency judgment against Company Chex or any third party (whether because of any applicable law pertaining to "election of remedies" or the like), Company Chex nevertheless hereby consents to such action by Secured PartyParties. To the extent permitted by applicable law, Company Secured Parties also waives waive any claim based upon such action, even if such action by Secured Party Parties results in a full or partial loss of any rights of subrogation, indemnification or reimbursement which Company Chex might otherwise have had but for such action by Secured Party Parties or the terms herein. Any election of remedies which results in the denial or impairment of the right of Secured Party Parties to seek a deficiency judgment against any third party shall not, to the extent permitted by applicable law, impair Company’s Chex's obligations hereunder. If Secured Party bids Parties bid at any foreclosure or trustee’s 's sale or at any private sale permitted by law or this Agreement, Secured Party Parties may bid all or less than the amount of the Obligations. To the extent permitted by applicable law, the amount of the successful bid at any such sale, whether Secured Party Parties or any other party is the successful bidder, shall be conclusively deemed to be the fair market value of the Collateral and any deficiency the difference between such bid amount and the remaining balance of the Obligations shall be conclusively deemed to be the amount of the Obligations.

Appears in 2 contracts

Samples: Chex Guarantee Security Agreement (Seven Ventures Inc), Chex Guarantee Security Agreement (Equitex Inc)

No Impairment of Remedies. If under applicable law, Secured Party proceeds by either judicial foreclosure or by non-judicial sale or enforcement, Secured Party may, at its sole option, determine which of its remedies or rights to pursue without affecting any of its respective rights and remedies under this Agreement. If, by exercising any right and remedy, Secured Party forfeits any of its other rights or remedies, including any right to enter a deficiency judgment against Company El Capitan - Delaware or any third party (whether because of any applicable law pertaining to "election of remedies" or the like), Company El Capitan - Delaware nevertheless hereby consents to such action by Secured Party. To the extent permitted by applicable law, Company El Capitan - Delaware also waives any claim based upon such action, even if such action by Secured Party results in a full or partial loss of any rights of subrogation, indemnification or reimbursement which Company El Capitan - Delaware might otherwise have had but for such action by Secured Party or the terms herein. Any election of remedies which results in the denial or impairment of the right of Secured Party to seek a deficiency judgment against any third party shall not, to the extent permitted by applicable law, impair Company’s El Capitan - Delaware's obligations hereunder. If Secured Party bids at any foreclosure or trustee’s 's sale or at any private sale permitted by law or this Agreement, Secured Party may bid all or less than the amount of the Obligations. To the extent permitted by applicable law, the amount of the successful bid at any such sale, whether Secured Party or any other party is the successful bidder, shall be conclusively deemed to be the fair market value of the Collateral and any deficiency the difference between such bid amount and the remaining balance of the Obligations shall be conclusively deemed to be the amount of the Obligations.

Appears in 1 contract

Samples: Security Agreement (El Capitan Precious Metals Inc)

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No Impairment of Remedies. If If, under applicable law, Secured Party proceeds by either judicial foreclosure or by non-judicial sale or enforcement, such Secured Party may, at its sole option, determine which of its remedies or rights to pursue without affecting any of its respective rights and remedies under this Agreement. If, by exercising any right and remedy, Secured Party forfeits any of its other rights or remedies, including any right to enter a deficiency judgment against the Company or any third party (whether because of any applicable law pertaining to “election of remedies” or the like), the Company nevertheless hereby consents to such action by Secured Party. To the extent permitted by applicable law, The Company also waives any claim based upon such action, even if such action by Secured Party results in a full or partial loss of any rights of subrogation, indemnification or reimbursement which The Company might otherwise have had but for such action by Secured Party or the terms herein. Any election of remedies which results in the denial or impairment of the right of Secured Party to seek a deficiency judgment against any third party shall not, to the extent permitted by applicable law, impair the Company’s obligations hereunder. If Secured Party bids at any foreclosure or trustee’s sale or at any private sale permitted by law or this Agreement, Secured Party may bid all or less than the amount of the Obligations. To the extent permitted by applicable law, the amount of the successful bid at any such sale, whether Secured Party or any other party is the successful bidder, shall be conclusively deemed to be the fair market value of the Collateral and any deficiency the difference between such bid amount and the remaining balance of the Obligations shall be conclusively deemed to be the amount of the Obligations.

Appears in 1 contract

Samples: Amended Security Agreement (Equitex Inc)

No Impairment of Remedies. If under applicable law, Secured Party proceeds proceed by either judicial foreclosure or by non-judicial sale or enforcement, Secured Party may, at its sole option, determine which of its remedies or rights to pursue without affecting any of its respective their rights and remedies under this Agreement. If, by exercising any right and remedy, Secured Party forfeits any of its other rights or remedies, including any right to enter a deficiency judgment against Company Wits Basin or any third party (whether because of any applicable law pertaining to “election of remedies” or the like), Company Wits Basin nevertheless hereby consents to such action by Secured Party. To the extent permitted by applicable law, Company Wits Basin also waives any claim based upon such action, even if such action by Secured Party results in a full or partial loss of any rights of subrogation, indemnification or reimbursement which Company Wits Basin might otherwise have had but for such action by Secured Party or the terms herein. Any election of remedies which results in the denial or impairment of the right of Secured Party to seek a deficiency judgment against any third party shall not, to the extent permitted by applicable law, impair CompanyWits Basin’s obligations hereunder. If Secured Party bids at any foreclosure or trustee’s sale or at any private sale permitted by law or this Agreement, Secured Party may bid all or less than the amount of the Obligations. To the extent permitted by applicable law, the amount of the successful bid at any such sale, whether Secured Party or any other party is the successful bidder, shall be conclusively deemed to be the fair market value of the Collateral and any deficiency the difference between such bid amount and the remaining balance of the Obligations shall be conclusively deemed to be the amount of the Obligations.

Appears in 1 contract

Samples: Security Agreement (Wits Basin Precious Minerals Inc)

No Impairment of Remedies. If under applicable law, Secured Party proceeds Parties proceed by either judicial foreclosure or by non-judicial sale or enforcement, Secured Party Parties may, at its their sole option, determine which of its their remedies or rights to pursue without affecting any of its respective rights and remedies under this Agreement. If, by exercising any right and remedy, Secured Party forfeits Parties forfeit any of its their other rights or remedies, including any right to enter a deficiency judgment against Company Equitex or any third party (whether because of any applicable law pertaining to "election of remedies" or the like), Company Equitex nevertheless hereby consents to such action by Secured PartyParties. To the extent permitted by applicable law, Company Secured Parties also waives waive any claim based upon such action, even if such action by Secured Party Parties results in a full or partial loss of any rights of subrogation, indemnification or reimbursement which Company Equitex might otherwise have had but for such action by Secured Party Parties or the terms herein. Any election of remedies which results in the denial or impairment of the right of Secured Party Parties to seek a deficiency judgment against any third party shall not, to the extent permitted by applicable law, impair Company’s Equitex's obligations hereunder. If Secured Party bids Parties bid at any foreclosure or trustee’s 's sale or at any private sale permitted by law or this Agreement, Secured Party Parties may bid all or less than the amount of the Obligations. To the extent permitted by applicable law, the amount of the successful bid at any such sale, whether Secured Party Parties or any other party is the successful bidder, shall be conclusively deemed to be the fair market value of the Collateral and any deficiency the difference between such bid amount and the remaining balance of the Obligations shall be conclusively deemed to be the amount of the Obligations.

Appears in 1 contract

Samples: Equitex Security Agreement (Equitex Inc)

No Impairment of Remedies. If under applicable law, Secured Party proceeds proceed by either judicial foreclosure or by non-judicial sale or enforcement, Secured Party may, at its sole option, determine which of its remedies or rights to pursue without affecting any of its respective their rights and remedies under this Agreement. If, by exercising any right and remedy, Secured Party forfeits any of its other rights or remedies, including any right to enter a deficiency judgment against Company El Capitan or any third party (whether because of any applicable law pertaining to "election of remedies" or the like), Company El Capitan nevertheless hereby consents to such action by Secured Party. To the extent permitted by applicable law, Company El Capitan also waives any claim based upon such action, even if such action by Secured Party results in a full or partial loss of any rights of subrogation, indemnification or reimbursement which Company El Capitan might otherwise have had but for such action by Secured Party or the terms herein. Any election of remedies which results in the denial or impairment of the right of Secured Party to seek a deficiency judgment against any third party shall not, to the extent permitted by applicable law, impair Company’s El Capitan's obligations hereunder. If Secured Party bids at any foreclosure or trustee’s 's sale or at any private sale permitted by law or this Agreement, Secured Party may bid all or less than the amount of the Obligations. To the extent permitted by applicable law, the amount of the successful bid at any such sale, whether Secured Party or any other party is the successful bidder, shall be conclusively deemed to be the fair market value of the Collateral and any deficiency the difference between such bid amount and the remaining balance of the Obligations shall be conclusively deemed to be the amount of the Obligations.

Appears in 1 contract

Samples: Security Agreement (El Capitan Precious Metals Inc)

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