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

Release of and Resort to Collateral. Mortgagee may release, regardless of consideration, any part of the 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 and security interest in and to the Mortgaged Property, and without in any way releasing or diminishing the liability of any person or entity liable for the repayment of the Indebtedness. For payment of the Indebtedness, Mortgagee may resort to any other security therefor held by Mortgagee or Trustee in such order and manner as Mortgagee may elect.

Appears in 4 contracts

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

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Release of and Resort to Collateral. The Mortgagee may release, regardless of consideration, any part of the Mortgaged Property Collateral without, as to the remainder, in any way impairing, affecting, subordinating or releasing the lien or security interest Lien created in or evidenced by this Mortgage or its stature as a first and prior lien and security interest Lien, in and to the Mortgaged PropertyCollateral, provided that Permitted Encumbrances may exist, and without in any way releasing or diminishing the liability of any person or entity Person liable for the repayment of the IndebtednessObligations. For payment of the IndebtednessObligations, 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 (Talos Energy Inc.), Credit Agreement (Talos Energy Inc.), Credit Agreement (MBOW Four Star, L.L.C.)

Release of and Resort to Collateral. The Mortgagee may release, regardless of consideration, any part of the Mortgaged Property Collateral without, as to the remainder, in any way impairing, affecting, subordinating or releasing the lien or security interest Lien created in or evidenced by this Mortgage or its stature as a first and prior lien and security interest Lien in and to the Mortgaged Property, Collateral and without in any way releasing or diminishing the liability of any person or entity Person liable for the repayment of the IndebtednessSecured Obligations. For payment of the IndebtednessSecured Obligations, 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 2 contracts

Samples: Mortgage and Security Agreement (SandRidge Mississippian Trust II), Mortgage and Security Agreement (SandRidge Mississippian Trust II)

Release of and Resort to Collateral. The Mortgagee may release, regardless of consideration, any part of the Mortgaged Property Collateral without, as to the remainder, in any way impairing, affecting, subordinating or releasing the lien or security interest Lien created in or evidenced by this Mortgage or its stature as a first and prior lien and security interest Lien, in and to the Mortgaged PropertyCollateral, 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 or entity Person liable for the repayment of the IndebtednessObligations. For payment of the IndebtednessObligations, 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 2 contracts

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

Release of and Resort to Collateral. 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 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 the Secured Obligation Agreements or its stature their status as a first and prior priority lien and security interest in and to the Mortgaged Property, and without in any way releasing or diminishing the liability of any person or entity liable for the repayment of the Indebtednesssubject only to Permitted Encumbrances. For payment of the IndebtednessSecured Obligations, Mortgagee may resort to any other security therefor held granted by Mortgagee Mortgagor or Trustee any other Borrower in such order and manner as Mortgagee may elect.

Appears in 2 contracts

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

Release of and Resort to Collateral. Mortgagee may release, regardless of consideration, any part of the 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 and security interest in and to the Mortgaged Property, and without in any way releasing or diminishing the liability of any person or entity liable for the repayment of the Indebtedness. For payment of the Indebtedness, Mortgagee may resort to any other security therefor held by Mortgagee or Trustee in such order and manner as 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. Subject to and to the fullest extent permitted by law, Mortgagee may release, regardless of consideration, any part of the 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 and security interest in and to the Mortgaged Property, Loan Documents and without in any way releasing or diminishing the liability of any person or entity liable for the repayment of the IndebtednessIndebtedness or the performance of the Obligations. For payment of the Indebtedness, Mortgagee may resort to any other security therefor held by Mortgagee or Trustee in such order and manner as 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 Mortgaged Property Collateral 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 second lien and prior lien and security interest in and to the Mortgaged PropertyCollateral, and without in any way releasing or diminishing the liability of any person or entity Person liable for the repayment of the IndebtednessSecured Obligations. For payment of the IndebtednessSecured Obligations, 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: Second Lien Security Agreement

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Release of and Resort to Collateral. Mortgagee may release, regardless of consideration, any part of the Mortgaged Mortgage 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 and security interest in and to the Mortgaged Mortgage Property, and without in any way releasing or diminishing the liability of any person or entity liable for the repayment of the Indebtedness. For payment of the Indebtedness, Mortgagee may resort to any other security therefor held by Mortgagee or Trustee in such order and manner as 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 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 and security interest in and to the Mortgaged Property, and without in any way releasing or diminishing the liability of any person or entity liable for the repayment of the Indebtedness. For payment of the Indebtedness, 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

Release of and Resort to Collateral. The Mortgagee may release, regardless of consideration, any part of the 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 and security interest in and to the Mortgaged Property, and without in any way releasing or diminishing the liability of any person or entity liable for the repayment of the Indebtedness. For payment of the Indebtedness, 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

Release of and Resort to Collateral. The Mortgagee may release, regardless of consideration, any part of the Mortgaged Property Collateral without, as to the remainder, in any way impairing, affecting, subordinating or releasing the lien or security interest Lien created in or evidenced by this Mortgage Deed of Trust or its stature as a first and prior lien and security interest Lien in and to the Mortgaged PropertyCollateral (to the extent contemplated by this Deed of Trust), and without in any way releasing or diminishing the liability of any person or entity Person liable for the repayment of the IndebtednessSecured Obligations. For payment of the IndebtednessSecured 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. Mortgagee may release, regardless of consideration, any part of the 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 Mortgaged Property, and without in any way releasing or diminishing the liability of any person or entity Person liable for the repayment payment or performance of the IndebtednessObligations. For payment of the IndebtednessSubject to applicable Governmental Requirements, Mortgagee may resort to any other security therefor for the payment and performance of Obligations held by Mortgagee or Trustee in such manner and order and manner as Mortgagee may elect.

Appears in 1 contract

Samples: Intercreditor Agreement (Angiotech Pharmaceuticals Inc)

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