Collection of Collateral. Secured Party may collect any accounts or obligations constituting a part of the Collateral and settle or compromise with any obligor thereof in Secured Party’s discretion. All payments made by Debtor or any Obligor may be applied by Secured Party to any of the obligations, matured or unmatured, as Secured Party may determine in its sole but reasonable discretion, unless otherwise required by applicable law.
Appears in 3 contracts
Sources: Personal Property Security Agreement, Personal Property Security Agreement, Personal Property Security Agreement