Fillable Security Agreement Template (January 2014) (Page 9 of 11) in pdf

Security Agreement Template (January 2014) Page 9

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6.4

Applicable Law.

THE PARTIES AGREE THAT THIS AGREEMENT

SHALL

CONSTRUED

STRICT

ACCORDANCE

WITH

AND

GOVERNED

EXCLUSIVELY BY THE LAWS OF THE STATE OF NEW JERSEY WITHOUT REGARD TO

NEW JERSEY’S CONFLICT OF LAWS PROVISIONS WHICH MAY DEFEAT THE

APPLICATION OF NEW JERSEY’S SUBSTANTIVE LAWS.

6.5

No Waivers. No failure or delay of Secured Party or Grantor in exercising

any power or right hereunder shall operate as a waiver thereof. No single or partial exercise of any

right or power hereunder, or any abandonment or discontinuance of steps to enforce such right or

power, preclude any other or further exercise thereof or the exercise of any other right or power. The

respective rights and remedies of Secured Party and Grantor hereunder and under the Loan

Agreement are cumulative and do not exclude any rights or remedies that such Party would otherwise

have.

6.6

Waiver of Jury Trial. Each Party hereto hereby waives, to the fullest extent

permitted by law, any right it may have to a trial by jury in respect of any litigation or other action

directly or indirectly arising out of, under or in connection with this Agreement.

6.7

Severability. The invalidity or unenforceability of any provision in this

Agreement will not affect the validity or enforceability of any other provision.

6.8

Counterparts. This Agreement may be executed in two or more counterparts,

each of which shall constitute an original but all of which when taken together shall constitute but

one contract.

6.9

Headings. Section headings are for convenience of reference only, are not

part of this Agreement, have no independent substantive meaning and are not to affect the

construction of, or to be taken into consideration in interpreting, this Agreement.

(signatures appear on the following pages)

Security Agreement Template (January 2014) Page 9

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