Common use of Dealing with Security Clause in Contracts

Dealing with Security. (a) The Holder may grant renewals, extensions of time and other indulgences, take, release and give up securities, accept compositions, grant releases and discharges, perfect or fail to perfect any securities, release the Mortgaged Property to third parties and otherwise deal or fail to deal with the Debtor, debtors of the Debtor, guarantors, sureties and others and with the Mortgaged Property and other securities as the Holder may see fit, all without prejudice to the liability of the Debtor to the Holder or the Holder’s rights and powers under this Debenture. (b) Nothing in this Debenture shall be construed as requiring the Holder to exercise all or any of its possession or realization rights hereunder in respect of all or any particular part of the Debtor’s property as the Holder may determine in its sole discretion, and the Holder may specifically elect not to take possession or control over, or appoint a Receiver in respect of, any such assets while exercising any or all remedies available to it in respect of any other Mortgaged Property. Without limiting the generality of the foregoing, the Holder may elect to exercise its possession and realization rights against the Debtor’s personal property and not its real property, or any particular portion of such real property, without prejudice to its ability to subsequently assert such rights. The Holder may also, of its own volition, release or discharge from the lien hereof any Mortgaged Property that it desires to release to the Debtor, and the Debtor covenants to accept such release and execute any acknowledgments as the Holder may require in respect thereof.

Dealing with Security. (a) The Holder may grant renewals, extensions of time and other indulgences, take, release and give up securities, accept compositions, grant releases and discharges, perfect or fail to perfect any securities, release the Mortgaged Property to third parties and otherwise deal or fail to deal with the Debtor, debtors of the Debtor, guarantors, sureties and others and with the Mortgaged Property and other securities as the Holder may see fit, all without prejudice to the liability of the Debtor to the Holder or the Holder’s 's rights and powers under this Debenture. (b) Nothing in this Debenture shall be construed as requiring the Holder to exercise all or any of its possession or realization rights hereunder in respect of all or any particular part of the Debtor’s 's property as the Holder may determine in its sole discretion, and the Holder may specifically elect not to take possession or control over, or appoint a Receiver in respect of, any such assets while exercising any or all remedies available to it in respect of any other Mortgaged Property. Without limiting the generality of the foregoing, the Holder may elect to exercise its possession and realization rights against the Debtor’s 's personal property and not its real property, or any particular portion of such real property, without prejudice to its ability to subsequently assert such rights. The Holder may also, of its own volition, release or discharge from the lien hereof any Mortgaged Property that it desires to release to the Debtor, and the Debtor covenants to accept such release and execute any acknowledgments acknowledgements as the Holder may require in respect thereof.