Common use of Dealing with Security Clause in Contracts

Dealing with Security. The Lenders may grant extensions, take and give up any Security, accept compositions, grant releases and discharges of any Security in whole or in part and otherwise deal with the Borrower, any Guarantor or any other Persons, sureties or Security, as the Lenders may see fit, all without prejudice to the liability of the Borrower or any Guarantor or the Lenders' rights under this Agreement or under any Security. The taking of any Security under this Agreement shall not operate by way of merger of any of the Obligations, the Operating Obligations or the Lender Risk Management Obligations.