Common use of Protection of Secured Party’s Interest Clause in Contracts

Protection of Secured Party’s Interest. Borrower will defend the property against any other claim. Borrower agrees to take such reasonable action as may be necessary to protect Lender’s security interest and to keep its claim in the property ahead of the claims of other creditors. Borrower will not affirmatively do anything to harm Lender’s position. Borrower will keep books, records, and accounts about its business and the property. Lender may examine these and make copies at any reasonable time. Borrower will prepare any reasonable report or accounting of the property as requested by Lender. Lender will maintain the confidentiality of any information provided or made available to Lender under this paragraph, unless and until such information is publicly disclosed by Borrower.