Common use of Right to Defend Action Affecting Security Clause in Contracts

Right to Defend Action Affecting Security. Agent may, at Borrower's expense, appear in and defend any action or proceeding at law or in equity which Agent in good faith believes may affect the security interests granted under this Agreement, including without limitation, with respect to Pledged Notes Receivable or Mortgages, the value of the Collateral or each Lender's rights under any of the Loan Documents.

Appears in 3 contracts

Samples: Loan, Security and Agency Agreement (Silverleaf Resorts Inc), Acquisition, Construction and Receivable Loan, Security and Agency Agreement (Bluegreen Corp), Loan, Security and Agency Agreement (Silverleaf Resorts Inc)

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Right to Defend Action Affecting Security. Agent may, at Borrower's ’s expense, appear in and defend any action or proceeding at law or in equity which Agent in good faith believes may affect the security interests granted under this Agreement, including without limitation, with respect to Pledged Notes Receivable the Collateral or Mortgages, the value of the Collateral thereof or each Lender's ’s rights under any of the Loan Documents.

Appears in 3 contracts

Samples: Loan and Security Agreement (Silverleaf Resorts Inc), Loan and Security Agreement (Silverleaf Resorts Inc), Loan and Security Agreement (Silverleaf Resorts Inc)

Right to Defend Action Affecting Security. Agent may, at Borrower's expense, appear in and defend any action or proceeding at law or in equity which Agent in good faith believes may affect the security interests granted under this Agreement, including without limitation, with respect to Pledged Notes Receivable the Collateral or Mortgages, the value of the Collateral thereof or each Lender's rights under any of the Loan Documents.

Appears in 1 contract

Samples: Loan and Security Agreement (Silverleaf Resorts Inc)

Right to Defend Action Affecting Security. Agent may, at Borrower's ’s expense, appear in and defend any action or proceeding at law or in equity which Agent in good faith believes may affect the security interests granted under this Agreement, including without limitation, with respect to Pledged Notes Receivable or Mortgages, the value of the Collateral or each Lender's ’s rights under any of the Loan Documents.

Appears in 1 contract

Samples: Loan Agreement (Silverleaf Resorts Inc)

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Right to Defend Action Affecting Security. Agent may, at Borrower's expense, appear in and defend any action or proceeding at law or in equity which Agent in good faith believes may affect the security interests granted under this Agreement, including without limitation, with respect to Pledged Notes Receivable Receivables or Mortgages, the value of the Collateral or each Lender's rights under any of the Loan Documents.

Appears in 1 contract

Samples: Loan, Security and Agency Agreement (Silverleaf Resorts Inc)

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