Common use of Resort to Any Security Clause in Contracts

Resort to Any Security. The Collateral Agent may resort to any security given by this Deed or to any other security now existing or hereafter given to secure the payment of the Secured Indebtedness, in whole or in part, and in such portions and in such order as may seem best to the Collateral Agent in its sole and uncontrolled discretion, and any such action shall not in anywise be considered as a waiver of any of the rights, benefits, liens or security interests evidenced by this Deed, except as may be provided to the contrary under Applicable Laws.

Appears in 2 contracts

Samples: Term Credit Agreement (Pillowtex Corp), Credit Agreement (Pillowtex Corp)

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Resort to Any Security. The Collateral Agent may resort to any security given by this Deed of Trust or to any other security now existing or hereafter given to secure the payment of the Secured Indebtedness, in whole or in part, and in such portions and in such order as may seem best to the Collateral Agent in its sole and uncontrolled discretion, and any such action shall not in anywise be considered as a waiver of any of the rights, benefits, liens or security interests evidenced by this DeedDeed of Trust, except as may be provided to the contrary under Applicable Lawsapplicable law.

Appears in 2 contracts

Samples: Credit Agreement (Pillowtex Corp), Term Credit Agreement (Pillowtex Corp)

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Resort to Any Security. The Collateral Agent may resort to any security given by this Deed of Trust or to any other security now existing or hereafter given to secure the payment of the Secured Indebtedness, in whole or in part, and in such portions and in such order as may seem best to the Collateral Agent in its sole and uncontrolled absolute discretion, and any such action shall not in anywise any way be considered as a waiver of any of the rights, benefits, liens or security interests evidenced by this Deed, except as may be provided to the contrary under Applicable LawsDeed of Trust.

Appears in 1 contract

Samples: Term Loan and Revolving Credit Facility Agreement (Stolt Nielsen S A)

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