Common use of Release of and Resort to Collateral Clause in Contracts

Release of and Resort to Collateral. The Mortgagee may release, regardless of consideration, any part of the Collateral without, as to the remainder, in any way impairing, affecting, subordinating or releasing the Lien created in or evidenced by this Mortgage or its stature as a first and prior Lien, in and to the Collateral, provided that Permitted Encumbrances may exist, and without in any way releasing or diminishing the liability of any Person liable for the repayment of the Obligations. For payment of the Obligations, the Mortgagee may resort to any other security therefor held by the Mortgagee in such order and manner as the Mortgagee may elect.

Appears in 4 contracts

Samples: Credit Agreement (Talos Energy Inc.), Credit Agreement (Talos Energy Inc.), Credit Agreement (MBOW Four Star, L.L.C.)

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Release of and Resort to Collateral. The Mortgagee may release, regardless of consideration, any part of the Collateral Mortgaged Property without, as to the remainder, in any way impairing, affecting, subordinating or releasing the Lien lien or security interest created in or evidenced by this Mortgage or its stature as a first and prior Lien, lien and security interest in and to the Collateral, provided that Permitted Encumbrances may existMortgaged Property, and without in any way releasing or diminishing the liability of any Person person or entity liable for the repayment of the ObligationsIndebtedness. For payment of the ObligationsIndebtedness, the Mortgagee may resort to any other security therefor held by the Mortgagee or Trustee in such order and manner as the Mortgagee may elect.

Appears in 4 contracts

Samples: Credit Agreement (Energy & Exploration Partners, Inc.), Credit Agreement (Brigham Exploration Co), Miller Exploration Co

Release of and Resort to Collateral. The Mortgagee may release, regardless of considerationconsideration and without the necessity for any notice to or consent by the holder of any subordinate lien on the Mortgaged Property, any part of the Collateral Mortgaged Property without, as to the remainder, in any way impairing, affecting, subordinating or releasing the Lien lien or security interest created in or evidenced by this Mortgage the Secured Obligation Agreements or its stature their status as a first priority lien and prior Lien, security interest in and to the CollateralMortgaged Property, provided that subject only to Permitted Encumbrances may exist, and without in any way releasing or diminishing the liability of any Person liable for the repayment of the ObligationsEncumbrances. For payment of the Secured Obligations, the Mortgagee may resort to any other security therefor held granted by the Mortgagee Mortgagor or any other Borrower in such order and manner as the Mortgagee may elect.

Appears in 2 contracts

Samples: Credit Agreement (Stonemor Partners Lp), Credit Agreement (Stonemor Partners Lp)

Release of and Resort to Collateral. The Mortgagee may release, regardless of consideration, any part of the Collateral Mortgaged Property without, as to the remainder, in any way impairing, affecting, subordinating or releasing the Lien lien or security interest created in or evidenced by this Mortgage or its stature as a first and prior Lien, lien and security interest in and to the Collateral, provided that Permitted Encumbrances may existMortgaged Property, and without in any way releasing or diminishing the liability of any Person person or entity liable for the repayment of the ObligationsIndebtedness. For payment of the ObligationsIndebtedness, the Mortgagee may resort to any other security therefor held by the Mortgagee in such order and manner as the Mortgagee may elect.

Appears in 2 contracts

Samples: Credit Agreement (Mach Natural Resources Lp), Credit Agreement (Mach Natural Resources Lp)

Release of and Resort to Collateral. The Mortgagee may release, regardless of consideration, any part of the Collateral without, as to the remainder, in any way impairing, affecting, subordinating or releasing the Lien created in or evidenced by this Mortgage or its stature as a first and prior Lien, in and to the Collateral, provided that Permitted Encumbrances or other Liens permitted by the Credit Agreement may exist, and without in any way releasing or diminishing the liability of any Person liable for the repayment of the Obligations. For payment of the Obligations, the Mortgagee may resort to any other security therefor held by the Mortgagee in such order and manner as the Mortgagee may elect.

Appears in 2 contracts

Samples: Credit Agreement (Vine Resources Inc.), Credit Agreement (Vine Resources Inc.)

Release of and Resort to Collateral. The Subject to and to the fullest extent permitted by law, Mortgagee may release, regardless of consideration, any part of the Collateral Mortgaged Property without, as to the remainder, in any way impairing, affecting, subordinating or releasing the Lien lien or security interest created in or evidenced by this Mortgage or its stature as a first and prior Lien, in and to the Collateral, provided that Permitted Encumbrances may exist, Loan Documents and without in any way releasing or diminishing the liability of any Person person or entity liable for the repayment of the Indebtedness or the performance of the Obligations. For payment of the ObligationsIndebtedness, the Mortgagee may resort to any other security therefor held by the Mortgagee in such order and manner as the Mortgagee may elect.

Appears in 2 contracts

Samples: Open End Mortgage, Security Agreement (Westway Group, Inc.), Open End Mortgage, Security Agreement (Westway Group, Inc.)

Release of and Resort to Collateral. The Mortgagee may release, regardless of consideration, any part of the Collateral Mortgaged Property without, as to the remainder, in any way impairing, affecting, subordinating or releasing the Lien or security interest created in or evidenced by this Mortgage or its stature as a first and prior Lien, Lien and security interest in and to the Collateral, provided that Permitted Encumbrances may existMortgaged Property, and without in any way releasing or diminishing the liability of any Person liable for the repayment payment or performance of the Obligations. For payment of the ObligationsSubject to applicable Governmental Requirements, the Mortgagee may resort to any other security therefor for the payment and performance of Obligations held by the Mortgagee in such manner and order and manner as the Mortgagee may elect.

Appears in 1 contract

Samples: Intercreditor Agreement (Angiotech Pharmaceuticals Inc)

Release of and Resort to Collateral. The Mortgagee may release, regardless of consideration, any part of the Collateral Mortgaged Property without, as to the remainder, in any way impairing, affecting, subordinating or releasing the Lien lien or security interest created in or evidenced by this Mortgage or its stature as a first and prior Lien, lien and security interest in and to the Collateral, provided that Permitted Encumbrances may existMortgaged Property, and without in any way releasing or diminishing the liability of any Person person or entity liable for the repayment of the ObligationsIndebtedness. For payment of the ObligationsIndebtedness, the Mortgagee may resort to any other security therefor held by the Mortgagee or Trustee in such order and manner as the Mortgagee may elect.

Appears in 1 contract

Samples: Eex Corp

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Release of and Resort to Collateral. The Mortgagee may release, regardless of consideration, any part of the Collateral Deed of Trust Property without, as to the remainder, in any way impairing, affecting, subordinating or releasing the Lien lien or security interest created in or evidenced by this Mortgage Deed of Trust or its stature as a first and prior Lien, lien and security interest in and to the Collateral, provided that Permitted Encumbrances may existDeed of Trust Property, and without in any way releasing or diminishing the liability of any Person person or entity liable for the repayment of the ObligationsIndebtedness. For payment of the ObligationsIndebtedness, the Mortgagee may resort to any other security therefor held by the Mortgagee or Trustee in such order and manner as the Mortgagee may elect.

Appears in 1 contract

Samples: Collateral Security Agreement and Financing (Energy Hunter Resources, Inc.)

Release of and Resort to Collateral. The Mortgagee may release, regardless of consideration, any part of the Collateral without, as to the remainder, in any way impairing, affecting, subordinating or releasing the Lien created in or evidenced by this Mortgage Deed of Trust or its stature as a first and prior Lien, Lien in and to the Collateral, provided that Permitted Encumbrances may existCollateral (to the extent contemplated by this Deed of Trust), and without in any way releasing or diminishing the liability of any Person liable for the repayment of the Secured Obligations. For payment of the Secured Obligations, the Mortgagee may resort to any other security therefor held by the Mortgagee or the Trustee in such order and manner as the Mortgagee may elect.

Appears in 1 contract

Samples: Credit Agreement (Chesapeake Energy Corp)

Release of and Resort to Collateral. The Mortgagee may release, regardless of consideration, any part of the Collateral Mortgaged Property without, as to the remainder, in any way impairing, affecting, subordinating or releasing the Lien lien or security interest created in or evidenced by this Mortgage or its stature as a first and prior Lien, lien and security interest in and to the Collateral, provided that Permitted Encumbrances may existMortgaged Property, and without in any way releasing or diminishing the liability of any Person person or entity liable for the repayment of the ObligationsIndebtedness. For payment of the ObligationsIndebtedness, the Mortgagee may resort to any other security therefor held by the Mortgagee in such order and manner as the Mortgagee may elect.

Appears in 1 contract

Samples: Eex Corp

Release of and Resort to Collateral. The Mortgagee may release, regardless of consideration, any part of the Collateral Mortgage Property without, as to the remainder, in any way impairing, affecting, subordinating or releasing the Lien lien or security interest created in or evidenced by this Mortgage or its stature as a first and prior Lien, lien and security interest in and to the Collateral, provided that Permitted Encumbrances may existMortgage Property, and without in any way releasing or diminishing the liability of any Person person or entity liable for the repayment of the ObligationsIndebtedness. For payment of the ObligationsIndebtedness, the Mortgagee may resort to any other security therefor held by the Mortgagee or Trustee in such order and manner as the Mortgagee may elect.

Appears in 1 contract

Samples: Loan Agreement

Release of and Resort to Collateral. The Mortgagee may release, regardless of consideration, any part of the Collateral Mortgaged Property without, as to the remainder, in any way impairing, affecting, subordinating or releasing the Lien or security interest created in or evidenced by this Mortgage or its stature as a first and prior Lien, Lien and security interest in and to the Collateral, provided that Permitted Encumbrances may existMortgaged Property, and without in any way releasing or diminishing the liability of any Person person or entity liable for the repayment of the ObligationsIndebtedness. For payment of the ObligationsIndebtedness, the Mortgagee may resort to any other security therefor held by the Mortgagee or Trustee in such order and manner as the Mortgagee may elect.

Appears in 1 contract

Samples: Miller Exploration Co

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