Common use of Collateral Instruments Clause in Contracts

Collateral Instruments. None of the Beneficiaries shall be obliged to make any claim or demand on the Obligors or to resort to any Collateral Instrument or other means of payment now or hereafter held by or available to them or it before enforcing this Deed and no action taken or omitted by the Beneficiaries in connection with any such Collateral Instrument or other means of payment shall discharge, reduce, prejudice or affect the liability of the Subordinated Creditor under this Deed nor (until sufficient money has been received by the Beneficiaries (whether or not credited to a suspense account), to discharge irrevocably the Secured Obligations in full and no Beneficiary is under any commitment to permit any Secured Obligations to become outstanding) shall any of the Beneficiaries be obliged to account for any money or other property received or recovered in consequence of any enforcement or realisation of any such Collateral Instrument or other means of payment.