A slide latch assembly having a keyless toggle lock capability and capable of being unlocked by either a low level security key or a master key. When a user lifts up on the front grip piece or the rear grip piece of the latch assembly, a dual pawl rotary latch is opened so that the latch assemble can then be latched to a keeper. The lock cylinder can be provided with either a master annular ring on the front of the lock plug which can only be opened by a master key or a low level security annular ring which permits the lock cylinder to be opened by either the master key or the low level security key.