Xxxxxxxx's Right to Possession. Regardless of whether Landlord terminates this lease or only terminates the Tenant's right of possession without terminating this lease, Landlord shall be immediately entitled to possession of the Premises and the Tenant shall peacefully surrender possession of the Premises to Landlord immediately upon Xxxxxxxx's demand. In the event Tenant shall fail or refuse to surrender possession of the Premises , Landlord shall, in compliance with Article 2A of Chapter 42 of the General Statutes of North Carolina, reenter and retake possession of the Premises only through a summary ejectment proceeding.
Xxxxxxxx's Right to Possession. Until default under the Notes or the default in any other of the Obligations, Borrower may have possession of the tangible assets and beneficial use of all the Collateral and may use it in any lawful manner not inconsistent with this Security Agreement, provided that Borrower’s right to possession and beneficial use shall not apply to any Collateral where possession of the Collateral by the Secured Parties is required by law to perfect the Secured Parties’ security interest in such Collateral. The Secured Parties shall not be required to take any steps necessary to preserve any rights in the Collateral against prior parties, neither to protect nor to preserve nor to maintain any security interest given to secure the indebtedness.
