RIGHTS, DUTIES AND POWERS OF SECURED PARTY Clause Samples

The "Rights, Duties and Powers of Secured Party" clause defines the legal authority and responsibilities granted to the secured party in a secured transaction. It typically outlines the secured party's rights to enforce the security interest, such as collecting payments, taking possession of collateral, or initiating legal proceedings if the debtor defaults. Additionally, it may specify the duties owed to the debtor, like providing notices or acting in good faith when disposing of collateral. This clause ensures both parties understand the scope of the secured party's powers and obligations, thereby reducing disputes and clarifying the enforcement process in case of default.
RIGHTS, DUTIES AND POWERS OF SECURED PARTY. The following rights, duties and powers of Secured Party are applicable irrespective of whether an Event of Default occurs and is continuing:
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RIGHTS, DUTIES AND POWERS OF SECURED PARTY 
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RIGHTS, DUTIES AND POWERS OF SECURED PARTY 
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Related to RIGHTS, DUTIES AND POWERS OF SECURED PARTY

  • Rights of Secured Party Secured Party shall have the rights contained in this Section at all times during the period of time this Agreement is effective.

  • Duties and Powers The business and affairs of the Corporation shall be managed by or under the direction of the Board of Directors which may exercise all such powers of the Corporation and do all such lawful acts and things as are not by statute or by the Certificate of Incorporation or by these By-Laws required to be exercised or done by the stockholders.

  • Reaffirmation of Security Interests Each Loan Party (a) affirms that each of the Liens granted in or pursuant to the Loan Documents are valid and subsisting and (b) agrees that this Amendment does not in any manner impair or otherwise adversely affect any of the Liens granted in or pursuant to the Loan Documents.

  • Powers Duties and Rights of the Guarantee Trustee SECTION 3.01. Powers and Duties of the Guarantee Trustee .....................5 SECTION 3.02. Certain Rights of Guarantee Trustee.............................7 SECTION 3.03. Indemnity.......................................................9

  • Assignment of Security Interest If at any time any Grantor shall take a security interest in any property of an Account Debtor or any other person to secure payment and performance of an Account, such Grantor shall promptly assign such security interest to the Collateral Agent. Such assignment need not be filed of public record unless necessary to continue the perfected status of the security interest against creditors of and transferees from the Account Debtor or other person granting the security interest.