Benefit of the Secured Parties Sample Clauses

The "Benefit of the Secured Parties" clause establishes that the rights, protections, and benefits provided under the agreement are intended specifically for the secured parties, such as lenders or creditors with a security interest. In practice, this means that any collateral, guarantees, or enforcement rights outlined in the agreement are enforceable by these secured parties and not by other unrelated third parties. This clause ensures that only those with a legitimate security interest can claim the benefits or protections under the agreement, thereby preventing unauthorized parties from asserting rights and maintaining the integrity of the security arrangement.