Noninterference, etc. The Trust Depositor shall not (i) waive or alter any of its rights under the Collateral (or any agreement or instrument relating thereto) without the prior written consent of the Collateral Agent and the Secured Party; or (ii) fail to pay any tax, assessment, charge or fee levied or assessed against the Collateral, or to defend any action, if such failure to pay or defend may adversely affect the priority or enforceability of the Trust Depositor's right, title or interest in and to the Collateral or the Collateral Agent's lien on, and security interest in, the Collateral for the benefit of the Secured Party; or (iii) take any action, or fail to take any action, if such action or failure to take action will interfere with the enforcement of any rights under the Transaction Documents.
Appears in 3 contracts
Sources: Security Agreement (Eaglemark Inc), Security Agreement (Harley Davidson Customer Funding Corp), Security Agreement (Eaglemark Inc)