Additional Rights of the Bank. The Bank is authorized to take any action necessary to protect its rights in the security provided hereunder (whether or not a drawing, claim or demand for payment has been made under the Credit) including but not limited to segregating all or any part of the balance of any deposit account referred to in paragraph 10(A) or other security to be applied to the Applicant's obligations to the Bank as provided in paragraph 11.
Appears in 3 contracts
Sources: Standby or Performance Letter of Credit (Rent a Wreck of America Inc), Credit Agreement (Univision Communications Inc), Standby or Performance Letter of Credit Application and Agreement (Rent a Wreck of America Inc)