Common use of Other Security Interests Clause in Contracts

Other Security Interests. If you are in default under this facility agreement and there is a security interest given to another person which is ranking in priority before our security on any security property, we may pay out that security interest and add the cost of doing that to the total amount owing.

Other Security Interests. If you are in default under this facility agreement and there is a security interest given to another person which is ranking in priority before our security on any security property, we may may, where reasonably necessary to protect our legitimate business interests, pay out that security interest and add the cost of doing that to the total amount owing.

Other Security Interests. If you are in default under this facility agreement and there is a security interest given to another person which is ranking in rankingin priority before our security on any security property, we may may, where reasonably necessary to protect our legitimate business interests, pay out that security interest and add the cost of doing that to the total amount owing.

Other Security Interests. If you are in default under this facility agreement and there is a security interest given to another person which is ranking in priority before our security on any security property, we may pay out that security interest and add the cost of doing that to the total amount owingowing on any of your accounts held with us, as determined by us. (a) must not exercise your powers or discretions under the trust unless we have consented in writing; and (b) must not exercise your right to be paid from the assets of the trust on demand.