No Marshaling. (a) The Collateral Agent need not, and the Grantor irrevocably waives and agrees that it will not invoke or assert any law requiring the Collateral Agent to: (i) attempt to satisfy the Secured Liabilities by collecting them from any other person liable for them; or (ii) marshal any security or guarantee securing payment or performance of the Secured Liabilities or any particular asset of the Grantor. (b) The Collateral Agent may release, modify or waive any collateral or guarantee provided by any other person to secure any of the Secured Liabilities, without affecting the Collateral Agent’s rights against the Grantor.
Appears in 2 contracts
Samples: Security Agreement (Vector Group LTD), Security Agreement (Vector Group LTD)
No Marshaling. (a) The Collateral Agent need not, and the Grantor Grantors irrevocably waives waive and agrees agree that it they will not invoke or assert any law requiring the Collateral Agent to:
(i) attempt to satisfy the Secured Liabilities by collecting them from any other person liable for them; or
(ii) marshal any security or guarantee securing payment or performance of the Secured Liabilities or any particular asset of the any Grantor.
(b) The Collateral Agent may release, modify or waive any collateral or guarantee provided by any other person to secure any of the Secured Liabilities, without affecting the Collateral Agent’s rights against the GrantorGrantors.
Appears in 2 contracts
Samples: Security Agreement (Vector Group LTD), Security Agreement (Vector Group LTD)
No Marshaling. (a) The Collateral Agent need not, and the Grantor irrevocably waives and agrees that it will not invoke or assert any law requiring the Collateral Agent to:
(i) attempt to satisfy the Secured Liabilities by collecting them from any other person liable for them; or
(ii) marshal any security or guarantee securing payment or performance of the Secured Liabilities or any particular asset of the Grantor.
(b) The Collateral Agent may release, modify or waive any collateral or guarantee provided by any other person to secure any of the Secured Liabilities, without affecting the Collateral Agent’s 's rights against the Grantor.
Appears in 1 contract
No Marshaling. (a) The Collateral Agent need not, and the Grantor irrevocably waives and agrees that it will shall not invoke or assert any law requiring the Collateral Agent to:
(i) attempt to satisfy the Secured Liabilities by collecting them from any other person Person liable for them; or
(ii) marshal any security or guarantee securing payment or performance of the Secured Liabilities or any particular asset of the Grantor.
(b) The Collateral Agent may release, modify or waive any collateral or guarantee provided by any other person Person to secure any of the Secured Liabilities, without affecting the Collateral Agent’s rights against the Grantor.
Appears in 1 contract
No Marshaling. (a) The Collateral Agent need not, and the Grantor Grantors irrevocably waives waive and agrees agree that it they will not invoke or assert any law requiring the Collateral Agent to:
(i) attempt to satisfy the Secured Liabilities by collecting them from any other person Person liable for them; or
(ii) marshal any security or guarantee securing payment or performance of the Secured Liabilities or any particular asset of the any Grantor.
(b) The Collateral Agent may release, modify or waive any collateral or guarantee provided by any other person Person to secure any of the Secured Liabilities, without affecting the Collateral Agent’s rights against the GrantorGrantors.
Appears in 1 contract
No Marshaling. (a) The Collateral Agent need not, and the Grantor Grantors irrevocably waives waive and agrees agree that it will they shall not invoke or assert any law requiring the Collateral Agent to:
(i) attempt to satisfy the Secured Liabilities by collecting them from any other person Person liable for them; or
(ii) marshal any security or guarantee securing payment or performance of the Secured Liabilities or any particular asset of the any Grantor.
(b) The Collateral Agent may release, modify or waive any collateral or guarantee provided by any other person Person to secure any of the Secured Liabilities, without affecting the Collateral Agent’s rights against the GrantorGrantors.
Appears in 1 contract
No Marshaling. (a) The Collateral Agent need not, and the Grantor irrevocably waives and agrees that it will not invoke or assert any law requiring the Collateral Agent to:
(i) attempt to satisfy the Secured Liabilities by collecting them from any other person Person liable for them; or
(ii) marshal any security or guarantee securing payment or performance of the Secured Liabilities or any particular asset of the Grantor.
(b) The Collateral Agent may release, modify or waive any collateral or guarantee provided by any other person Person to secure any of the Secured Liabilities, without affecting the Collateral Agent’s rights against the Grantor.
Appears in 1 contract
