Common use of Collections; Modifications of Terms Clause in Contracts

Collections; Modifications of Terms. Upon the occurrence and continuance of any Event of Default, Lender may demand, ▇▇▇ for, collect and give receipts for any money, instruments or property payable or receivable on account for or in exchange for any of the Collateral, or make any compromises it deems necessary or proper, including without limitation extended 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 Borrower and without otherwise discharging or affecting the Obligations, the Collateral or the security interest granted under this Agreement or any of the Relevant Documents.

Collections; Modifications of Terms. Upon the occurrence and continuance of any Event of Default, Lender may demand, ▇▇▇ for, collect and give receipts for any money, instruments or property payable or receivable on account for or in exchange for any of the Collateral, or make any compromises it deems necessary or proper, including without limitation extended 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 Borrower and without otherwise discharging or affecting the Obligations, the Collateral or the security interest granted under this Agreement or any of the Relevant Documents.