Common use of Waiver of Priority of Collection Clause in Contracts

Waiver of Priority of Collection. Each El Paso Settling Party hereby waives all rights under California Civil Code Sections 2845 or 2849 to require the Settlement Fund or its designee(s) first to proceed against the Collateral, against another El Paso Settling Party or El Paso Pledgor, or to exercise in any particular order any right provided for herein or in any other document delivered by or on behalf of any El Paso Settling Party or El Paso Pledgor under or in connection with this Agreement (including any of the Security Documents). All rights and remedies of the Settlement Fund and their designee(s) under this Paragraph 9 and in the other documents delivered by or on behalf of any El Paso Settling Party under or in connection with this Agreement (including any of the Security Documents), shall be cumulative and may be exercised singularly or concurrently.

Waiver of Priority of Collection. Each El Paso Settling Party hereby waives all rights under California Civil Code Sections §§ 2845 or 2849 to require the Settlement Fund or its designee(s) first to proceed against the Collateral, against another El Paso Settling Party or El Paso Pledgor, or to exercise in any particular order any right provided for herein or in any other document delivered by or on behalf of any El Paso Settling Party or El Paso Pledgor under or in connection with this Agreement (including any of the Security Documents). All rights and remedies of the Settlement Fund and their designee(s) under this Paragraph 9 and in the other documents delivered by or on behalf of any El Paso Settling Party under or in connection with this Agreement (including any of the Security Documents), shall be cumulative and may be exercised singularly or concurrently.