Premier Certified Lenders Program Security Agreement - U. S. Small Business Administration
including instructions to the bank not to follow instructions from
Premier CDC with respect to any Collateral maintained at such bank;
and
(v)
take any other action necessary to enforce its rights under this
Agreement.
(b)
Before or after default, SBA may waive any of its rights (including rights
upon Premier CDC’s default) under this Agreement, but such waiver must be
in writing and signed by an authorized SBA official.
(c) All rights conferred on SBA hereby are in addition to those granted to it by
any state or local law or any other law. SBA’s failure or repeated failure to
enforce, or waiver of, any rights hereunder shall not impair SBA’s rights to
exercise such rights accruing prior or subsequent thereto.
9.
PAYMENT OF FEES; COSTS AND EXPENSES:
In no event will SBA be liable to a Bank or to Premier CDC for any costs or
expenses incurred under this Agreement or in connection with the Collateral.
10. AMENDMENTS
AND WAIVERS:
All amendments to this Agreement must be in writing and executed by an
authorized official of the Premier CDC and SBA. No waiver of any provision of this
Agreement shall be binding against any party unless it is in writing and executed by an
authorized official of the party to be charged therewith. Any waiver of any provision of
this Agreement shall not impair the exercise of that provision by either party on a future
date. This Agreement may not be terminated without the prior written consent of SBA.
11. SEVERABILITY:
Any provision of this Agreement that is prohibited or invalid in any jurisdiction
shall be ineffective in that jurisdiction, but such provisions shall have no effect on the
validity of the remaining provisions of this Agreement. Any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render unenforceable such
provision in any other jurisdiction.
12. INCONSISTENCIES:
(a) If any provision of this Agreement is inconsistent with any provision in any
control agreement made pursuant to this Agreement between a bank, the
Premier CDC and SBA, the provision of such control agreement shall govern.
SBA Form 2229 (4/03)
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