Common use of First Recourse Enforcement Clause in Contracts

First Recourse Enforcement. Each of the Securities or any part thereof may be enforced without the Lender first being obligated or having to take recourse to any other security or right or taking any other steps or proceedings against the Borrower(s), the SecurityProviders or any other Person, or may be enforced for any balance due after resorting to any one or more means of obtaining payment or discharge of the obligations owed under the Transaction Documents.

First Recourse Enforcement. Each of the Securities or any part thereof may be enforced without the Lender first first being obligated or having to take recourse to any other security or right or taking any other steps or proceedings against the Borrower(s), the SecurityProviders Security Providers or any other Person, or may be enforced for any balance due after resorting to any one or more means of obtaining payment or discharge of the obligations owed under the Transaction Documents.