Concerning Lender. In furtherance and not in derogation of the rights, privileges and immunities of the Lender set forth in the other Financing Documents: (a) The Lender is authorized to take all such action as is provided to be taken by the Lender under this Security Agreement and all other action reasonably incidental thereto. As to any matters not expressly provided for in this Security Agreement (including the timing and methods of realization upon the Collateral), the Lender shall act or refrain from acting in the Lender's sole discretion. (b) The Lender shall not be responsible for the existence, genuineness or value of any of the Collateral or for the validity, perfection, priority or enforceability of the Security Interests in any of the Collateral, whether impaired by operation of law or by reason of any action or omission to act on the Lender's part under this Security Agreement. The Lender shall have no duty to ascertain or inquire as to the performance or observance of any of the terms of this Security Agreement by the Company.
Appears in 2 contracts
Sources: Guarantor Security Agreement (Integrated Security Systems Inc), Guarantor Security Agreement (Integrated Security Systems Inc)