Common use of Acknowledgment of Waivers and Loss of Defenses Clause in Contracts

Acknowledgment of Waivers and Loss of Defenses. 13.1 Guarantor acknowledges that certain provisions of this Guaranty operate as waivers of rights that Guarantor would otherwise have under applicable law. Other provisions permit Lender to take actions that Lender would otherwise not have a right to take, to fail to take actions that Lender would otherwise have an obligation to take, or to take actions that may prejudice Guarantor's rights and obligations under this Guaranty and against the Borrower. In the absence of these provisions Guarantor might have defenses against Guarantor's obligations under this Guaranty. These defenses might permit Guarantor to avoid some or all of Guarantor's obligations under this Guaranty. 13.2 Guarantor intends by the waivers and other provisions of this Guaranty, including the acknowledgement set forth in this section, to be liable to the greatest extent permitted by law for all of Borrower's obligations to Lender. Guarantor intends to have this liability even if the terms of the Loan Documents change or if Guarantor does not have any rights against Borrower. 13.3 Guarantor acknowledges that (i) Guarantor understands the seriousness of the provisions of this Guaranty; (ii) Guarantor has had a full opportunity to consult with counsel of Guarantor's choice; and (iii) Guarantor has consulted with counsel of Guarantor's choice or has decided not to consult with counsel.

Acknowledgment of Waivers and Loss of Defenses. 13.1 12.1 Guarantor acknowledges that certain provisions of this Guaranty operate as waivers of rights that Guarantor would otherwise have under applicable law. Other provisions permit Lender Factor to take actions that Lender Factor would otherwise not have a right to take, to fail to take actions that Lender Factor would otherwise have an obligation to take, or to take actions that may prejudice Guarantor's rights and obligations under this Guaranty and against the BorrowerClient. In the absence of these provisions Guarantor might have defenses against Guarantor's obligations under this Guaranty. These defenses might permit Guarantor to avoid some or all of Guarantor's obligations under this Guaranty. 13.2 12.2 Guarantor intends by the waivers and other provisions of this Guaranty, including the acknowledgement set forth in this section, to be liable to the greatest extent permitted by law for all of BorrowerClient's obligations to LenderFactor. Guarantor intends to have this liability even if the terms of the Loan Factoring Documents change or if Guarantor does not have any rights against BorrowerClient. 13.3 12.3 Guarantor acknowledges that (i) Guarantor understands the seriousness of the provisions of this Guaranty; (ii) Guarantor has had a full opportunity to consult with counsel of Guarantor's choice; and (iii) Guarantor has consulted with counsel of Guarantor's choice or has decided not to consult with counsel.

Acknowledgment of Waivers and Loss of Defenses. 13.1 a. Guarantor acknowledges that certain provisions of this Guaranty operate as waivers of rights that Guarantor would otherwise have under applicable law. Other provisions permit Lender TMCC (i) to take actions that Lender TMCC would otherwise not have a right to take, (ii) to fail to take actions that Lender it would otherwise have an obligation to take, or (iii) to take actions that may prejudice Guarantor's ’s rights and obligations under this Guaranty and against the Borrower. In the absence of these provisions Guarantor might have defenses against Guarantor's its obligations under this Guaranty. These defenses might permit Guarantor to avoid some or all of Guarantor's its obligations under this Guaranty. 13.2 b. Guarantor intends by the waivers and other provisions of this Guaranty, including the acknowledgement acknowledgment set forth in this section, to be liable to the greatest extent permitted by law for all of Borrower's obligations to Lenderthe Guarantied Obligations. Guarantor intends to have this liability even if the terms of the Loan Documents change or if Guarantor does not have any rights against Borrower. 13.3 c. Guarantor acknowledges that (i) Guarantor it understands the seriousness of the provisions of this Guaranty; (ii) Guarantor it has had a full opportunity to consult with counsel of Guarantor's its choice; and (iii) Guarantor it has consulted with counsel of Guarantor's its choice or has decided not to consult with counselavail itself of that opportunity.

Acknowledgment of Waivers and Loss of Defenses. 13.1 11.1 Guarantor acknowledges that certain provisions of this Guaranty operate as waivers of rights that Guarantor would otherwise have under applicable law. Other provisions permit Lender OSP to take actions that Lender OSP would otherwise not have a right to take, to fail to take actions that Lender OSP would otherwise have an obligation to take, or to take actions that may prejudice Guarantor's rights and obligations under this Guaranty and against the BorrowerCompany. In the absence of these provisions Guarantor might have defenses against Guarantor's obligations under this Guaranty. These defenses might permit Guarantor to avoid some or all of Guarantor's obligations under this Guaranty. 13.2 11.2 Guarantor intends by the waivers and other provisions of this Guaranty, including the acknowledgement set forth in this section, to be liable to the greatest extent permitted by law for all of BorrowerCompany's obligations to Lender. Guarantor intends to have this liability even if OSP under the terms of the Loan Documents change or if Guarantor does not have any rights against BorrowerPromissory Note. 13.3 11.3 Guarantor acknowledges that (i) Guarantor understands the seriousness of the provisions of this Guaranty; (ii) Guarantor has had a full opportunity to consult with counsel of Guarantor's choice; and (iii) Guarantor has consulted with counsel of Guarantor's choice or has decided not to consult with counsel.