Waivers by Company. The Company hereby waives, to the extent the same may be waived under applicable law: (i) notice of acceptance of this Agreement; (ii) all rights of redemption of the Company with respect to the Collateral; (iii) presentment, demand for payment, protest and notice of non-payment and all exemptions applicable to any of the Collateral or the Company; (iv) settlement, compromise or release of the obligations of any Person primarily or secondarily liable upon any of the Obligations; (v) all rights of the Company to demand that Secured Party release account debtors or other Persons liable on any of the Collateral from further obligation to Secured Party; and (vi) substitution, impairment, exchange or release of any Collateral for any of the Obligations. The Company agrees that Secured Party may exercise any or all of its rights and/or remedies hereunder, under the Purchase Agreement, the other Transaction Documents and under applicable law without resorting to and without regard to any Collateral or sources of liability with respect to any of the Obligations. Upon termination of this Agreement and Secured Party’s security interest hereunder and payment of all Obligations, within five (5) Business Days following the Company’s request to Secured Party, Secured Party shall release control of any security interest in the Collateral perfected by control and Secured Party shall send Company a statement terminating any financing statement filed against the Collateral.
Appears in 9 contracts
Samples: Security Agreement (NovAccess Global Inc.), Security Agreement (EzFill Holdings Inc), Security Agreement (Growlife, Inc.)
