Common use of Collections; Modification of Terms Clause in Contracts

Collections; Modification of Terms. The Bank may demand, ▇▇▇ for, collect, and give receipts for any money, instruments, or property payable or receivable on account of or in exchange for any of the Collateral, or make any compromises it deems necessary or proper, including without limitation extending the time of payment, permitting payment in installments, or otherwise modifying the terms or rights relating to any of the Collateral, all of which may be effected without notice to or consent by any Borrower and without otherwise discharging or affecting the obligations of Loan Party under this Agreement, the Collateral, or the security interest granted under this Agreement or any of the other Loan Documents.

Collections; Modification of Terms. The Bank Lender may demand, ▇▇▇ sue for, collect, collect and give receipts for any money, instruments, instruments or property pr▇▇▇rty payable or receivable on account of or in exchange for any of the Collateral, or make any compromises it deems necessary or proper, including without limitation extending the time of payment, permitting payment in installments, or otherwise modifying the terms or rights relating to any of the Collateral, all of which may be effected without notice to or consent by any Borrower and without otherwise discharging or affecting the obligations of Loan Party Borrower under this the Agreement, the Collateral, Collateral or the security interest granted under this Agreement or any of the other Loan Documents.