Common use of Absolute Rights and Obligations Clause in Contracts

Absolute Rights and Obligations. All rights of the Agent and the other Secured Parties, and all obligations of the Pledgors hereunder, shall be absolute and unconditional irrespective of: 8.1 any lack of validity or enforceability of the Term Loan Agreement, the Guaranty, any other Loan Document or any other agreement or instrument relating to any of the Secured Obligations; 8.2 any change in the time, manner or place of payment of, or in any other term of, all or any of the Obligations, or any other amendment or waiver of or any consent to any departure from the Term Loan Agreement, the Guaranty, any other Loan Document or any other agreement or instrument relating to any of the Secured Obligations; 8.3 any exchange, release or non-perfection of any other collateral, or any release or amendment or waiver of or consent to departure from the Guaranty, any guaranty, or any other security for all or any of the Secured Obligations; or 8.4 any other circumstances which might otherwise constitute a defense available to, or a discharge of, any Pledgor in respect of the Secured Obligations or of this Agreement.

Appears in 1 contract

Samples: Pledge Agreement (Salton Inc)

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Absolute Rights and Obligations. All rights of the Agent and the other Secured Parties, and all obligations of the Pledgors hereunder, shall be absolute and unconditional irrespective of: 8.1 8.1. any lack of validity or enforceability of the Term Loan Credit Agreement, the Guaranty, any other Loan Document or any other agreement or instrument relating to any of the Secured Obligations; 8.2 8.2. any change in the time, manner or place of payment of, or in any other term of, all or any of the Obligations, or any other amendment or waiver of or any consent to any departure from the Term Loan Credit Agreement, the Guaranty, any other Loan Document or any other agreement or instrument relating to any of the Secured Obligations; 8.3 8.3. any exchange, release or non-perfection of any other collateral, or any release or amendment or waiver of or consent to departure from the Guaranty, any guaranty, or any other security for all or any of the Secured Obligations; or 8.4 8.4. any other circumstances which might otherwise constitute a defense available to, or a discharge of, any Pledgor in respect of the Secured Obligations or of this Agreement.

Appears in 1 contract

Samples: Stock Pledge Agreement (Salton Inc)

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Absolute Rights and Obligations. All rights of the Agent and the other Secured Parties, and all obligations of the Pledgors hereunder, shall be absolute and unconditional irrespective of: 8.1 8.1. any lack of validity or enforceability of the Term Loan Second Amended Credit Agreement, the Subsidiary Guaranty, any other Loan Document or any other agreement or instrument relating to any of the Secured Obligations; 8.2 8.2. any change in the time, manner or place of payment of, or in any other term of, all or any of the Obligations, or any other amendment or waiver of or any consent to any departure from the Term Loan Second Amended Credit Agreement, the Subsidiary Guaranty, any other Loan Document or any other agreement or instrument relating to any of the Secured Obligations; 8.3 8.3. any exchange, release or non-perfection of any other collateral, or any release or amendment or waiver of or consent to departure from the Subsidiary Guaranty, any guaranty, or any other security for all or any of the Secured Obligations; or 8.4 8.4. any other circumstances which might otherwise constitute a defense available to, or a discharge of, any Pledgor in respect of the Secured Obligations or of this Agreement.

Appears in 1 contract

Samples: Stock Pledge Agreement (Applica Inc)

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