Common use of RECOURSE AGAINST THE DEBTOR Clause in Contracts

RECOURSE AGAINST THE DEBTOR. If the Debtor of a claim defaults in the performance of his obligations and the Debtor does not prompty exercice the recourses and guarantees available to him in virtue of the law or of the acts relating to the claim, the Creditor shall be entitled to exercice such recourses and guarantees in his place. The Creditor may require that the sums collected be remitted to him to be imputed in accordance with the agreement.