Amendments, etc. with respect to the Secured Obligations. The Pledgors shall remain obligated hereunder, and the Collateral shall remain subject to the Lien granted hereby, notwithstanding that, without any reservation of rights against the Pledgors, and without notice to or further assent by the Pledgors, any demand for payment of any of the Secured Obligations made by the Bridge Collateral Agent or any Bridge Lender may be rescinded by the Bridge Collateral Agent or such Bridge Lender, and any of the Secured Obligations continued, and the Secured Obligations, or the liability of the Pledgors or any other Person upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered, or released by the Bridge Collateral Agent or any Bridge Lender, and the Bridge Agreement, the Rollover Loans, any other Loan Documents and any other documents executed and delivered in connection therewith may be amended, modified, supplemented or terminated, in whole or part, as the Bridge Lenders may deem advisable from time to time, and any guarantee, right of offset or other collateral security at any time held by the Bridge Collateral Agent or any Bridge Lender for the payment of the Secured Obligations may be sold, exchanged, waived, surrendered or released. Neither the Bridge Collateral Agent nor any Bridge Lender, shall have any obligation to protect, secure, perfect or insure any other Lien at any time held by it as security for the Secured Obligations or any property subject thereto. The Pledgors waive any and all notice of the creation, renewal, extension or accrual of any of the Secured Obligations and notice of or proof of reliance by the Bridge Collateral Agent or any Bridge Lender upon this Bridge Pledge Agreement; the Secured Obligations, and any of them, shall conclusively be deemed to have been created, contracted or incurred in reliance upon this Bridge Pledge Agreement; and all dealings between the Pledgors, on the one hand, and the Bridge Collateral Agent and the Bridge Lenders, on the other, shall likewise be conclusively presumed to have been had or consummated in reliance upon this Bridge Pledge Agreement. The Pledgors waive diligence, presentment, protest, demand for payment and notice of default or nonpayment to or upon the Pledgors with respect to any of the Secured Obligations.
Appears in 1 contract
Samples: Bridge Pledge Agreement (Choice One Communications Inc)
Amendments, etc. with respect to the Secured Obligations. The Pledgors Each Guarantor shall remain obligated hereunder, and the Collateral shall remain subject to the Lien granted hereby, notwithstanding that, without any reservation of rights against the Pledgors, any Guarantor and without notice to or further assent by any Guarantor, notwithstanding the Pledgors, fact that: (a) any demand for payment of any of the Secured Obligations made by the Bridge Collateral Agent or any Bridge Lender Lenders may be rescinded by the Bridge Collateral Agent or such Bridge Lender, Lenders and any of the Secured Obligations continued, and (b) the Secured Obligations, or the liability of the Pledgors or any other Person upon or for any part thereof, or any collateral security or guarantee guaranty therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered, surrendered or released by Lenders, or (c) the Bridge Collateral Agent or any Bridge Lender, Facility Agreement and the Bridge Agreement, the Rollover Loans, any other Loan Documents and any other documents executed and delivered in connection therewith may be amended, modified, supplemented or terminated, in whole or in part, as the Bridge Lenders may deem advisable from time to time, and any guarantee, right of offset or other collateral security at any time held by the Bridge Collateral Agent or any Bridge Lender for the payment of the Secured Obligations may be sold, exchanged, waived, surrendered or released. Neither the Bridge Collateral Agent nor any Bridge Lender, Lenders shall have any no obligation to protect, secure, perfect or insure any other Lien at any time held by it as security for the Secured Obligations or for the guaranty contained in this Section 2 or any property subject thereto. The Pledgors waive Lenders may, from time to time, in their reasonable discretion and without notice to the Guarantors (or any and of them), take any or all notice of the creationfollowing actions: (a) retain or obtain a security interest in any personal property of the Grantors constituting Collateral to secure any of the Secured Obligations or any obligation hereunder, renewal(b) retain or obtain the primary or secondary obligation of any obligor or obligors, extension in addition to the undersigned, with respect to any of the Secured Obligations, (c) extend or accrual renew any of the Secured Obligations for one or more periods (whether or not longer than the original period), alter or exchange any of the Secured Obligations, or release or compromise any obligation of any of the undersigned hereunder or any obligation of any nature of any other obligor with respect to any of the Secured Obligations, (d) release any guaranty or right of offset or their security interest in, or surrender, release or permit any substitution or exchange for, all or any part of any personal property securing any of the Secured Obligations or any obligation hereunder, or extend or renew for one or more periods (whether or not longer than the original period) or release, compromise, alter or exchange any obligations of any nature of any obligor with respect to any such personal property, and (e) resort to the undersigned (or any of them) for payment of any of the Secured Obligations and notice when due, whether or not Lenders shall have resorted to any personal property securing any of or proof of reliance by the Bridge Collateral Agent Secured Obligations or any Bridge Lender upon this Bridge Pledge Agreement; obligation hereunder or shall have proceeded against any other of the Secured Obligations, and undersigned or any of them, shall conclusively be deemed to have been created, contracted other obligor primarily or incurred in reliance upon this Bridge Pledge Agreement; and all dealings between the Pledgors, on the one hand, and the Bridge Collateral Agent and the Bridge Lenders, on the other, shall likewise be conclusively presumed to have been had or consummated in reliance upon this Bridge Pledge Agreement. The Pledgors waive diligence, presentment, protest, demand for payment and notice of default or nonpayment to or upon the Pledgors secondarily obligated with respect to any of the Secured Obligations.
Appears in 1 contract
Amendments, etc. with respect to the Secured Obligations. The Pledgors To the maximum extent permitted by applicable law, the Guarantor shall remain obligated hereunder, and the Collateral shall remain subject to the Lien granted hereby, hereunder notwithstanding that, without any reservation of rights against the Pledgors, Guarantor and without notice to or further assent by the PledgorsGuarantor, any demand for payment of any of the Secured Obligations made by the Bridge Administrative Agent, the Pari Passu Collateral Agent or any Bridge Lender other Secured Party may be rescinded by the Bridge Administrative Agent, the Pari Passu Collateral Agent or such Bridge Lender, other Secured Party and any of the Secured Obligations continued, and the Secured Obligations, or the liability of the Pledgors or any other Person upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered, surrendered or released by the Bridge Administrative Agent, the Pari Passu Collateral LEGAL_US_E # 147952510.6 Agent or any Bridge Lenderother Secured Party, and the Bridge Agreement, Credit Agreement and the Rollover Loans, any other Loan Documents Documents, and in each case any other documents executed and delivered in connection therewith therewith, may be amended, modified, supplemented or terminated, in whole or in part, as the Bridge Administrative Agent (or the Applicable Required Lenders, or all Lenders, or all Lenders directly and adversely affected thereby, as the case may be) may deem advisable from time to time, and any guaranteecollateral security, guarantee or right of offset or other collateral security set-off at any time held by the Bridge Administrative Agent, the Pari Passu Collateral Agent or any Bridge Lender other Secured Party for the payment of the Secured Obligations may be sold, exchanged, waived, surrendered or released. Neither the Bridge Administrative Agent, the Pari Passu Collateral Agent nor any Bridge Lender, other Secured Party shall have any obligation to protect, secure, perfect or insure any other Lien at any time held by it as security for the Secured Obligations or for the guarantee contained in this Section 2 or any property subject thereto. The Pledgors waive any and all notice of the creation, renewal, extension or accrual of any of the Secured Obligations and notice of or proof of reliance by the Bridge Collateral Agent or any Bridge Lender upon this Bridge Pledge Agreement; the Secured Obligations, and any of them, shall conclusively be deemed to have been created, contracted or incurred in reliance upon this Bridge Pledge Agreement; and all dealings between the Pledgors, on the one hand, and the Bridge Collateral Agent and the Bridge Lenders, on the other, shall likewise be conclusively presumed to have been had or consummated in reliance upon this Bridge Pledge Agreement. The Pledgors waive diligence, presentment, protest, demand for payment and notice of default or nonpayment to or upon the Pledgors with respect to any of the Secured Obligations.
Appears in 1 contract
Samples: Holdings Term Loan Guarantee and Pledge Agreement (Revlon Inc /De/)
Amendments, etc. with respect to the Secured Obligations. The Pledgors Each Guarantor shall remain obligated hereunder, and the Collateral shall remain subject to the Lien granted hereby, hereunder notwithstanding that, without any reservation of rights against the Pledgors, any Guarantor and without notice to or further assent by the Pledgorsany Guarantor, any demand for payment of any of the Secured Obligations made by the Bridge Collateral Agent or any Bridge Lender Secured Creditor may be rescinded by the Bridge Collateral Agent or such Bridge Lender, Secured Creditor and any of the Secured Obligations continued, and the Secured Obligations, or the liability of the Pledgors or any other Person upon or for any part thereof, or any collateral security or guarantee guaranty therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered, surrendered or released by the Bridge Collateral Agent or any Bridge LenderSecured Creditor, and the Bridge Agreement, Promissory Note and the Rollover Loans, any other Loan Collateral Documents and any other documents executed and delivered in connection therewith may be amended, modified, supplemented or terminated, in whole or in part, as the Bridge Lenders Secured Creditor may deem advisable from time to time, and any guarantee, right of offset or other collateral security at any time held by the Bridge Collateral Agent or any Bridge Lender for the payment of the . Secured Obligations may be sold, exchanged, waived, surrendered or released. Neither the Bridge Collateral Agent nor any Bridge Lender, Creditor shall have any no obligation to protect, secure, perfect or insure any other Lien at any time held by it them as security for the Secured Obligations or for the guaranty contained in this Section 2 or any property subject thereto. The Pledgors waive Secured Creditor may, from time to time, in their reasonable discretion and without notice to the Guarantors (or any and of them), take any or all notice of the creationfollowing actions: (a) retain or obtain a security interest in any personal property to secure any of the Secured Obligations or any obligation hereunder, renewal(b) retain or obtain the primary or secondary obligation of any obligor or obligors, extension in addition to the undersigned, with respect to any of the Secured Obligations, (c) extend or accrual renew any of the Secured Obligations for one or more periods (whether or not longer than the original period), alter or exchange any of the Secured Obligations, or release or compromise any obligation of any of the undersigned hereunder or any obligation of any nature of any other obligor with respect to any of the Secured Obligations, (d) release any guaranty or right of offset or its security interest in, or surrender, release or permit any substitution or exchange for, all or any part of any personal property securing any of the Secured Obligations or any obligation hereunder, or extend or renew for one or more periods (whether or not longer than the original period) or release, compromise, alter or exchange any obligations of any nature of any obligor with respect to any such personal property, and (e) resort to the undersigned (or any of them) for payment of any of the Secured Obligations and notice when due, whether or not Secured Creditor shall have resorted to any personal property securing any of or proof of reliance by the Bridge Collateral Agent Secured Obligations or any Bridge Lender upon this Bridge Pledge Agreement; obligation hereunder or shall have proceeded against any other of the Secured Obligations, and undersigned or any of them, shall conclusively be deemed to have been created, contracted other obligor primarily or incurred in reliance upon this Bridge Pledge Agreement; and all dealings between the Pledgors, on the one hand, and the Bridge Collateral Agent and the Bridge Lenders, on the other, shall likewise be conclusively presumed to have been had or consummated in reliance upon this Bridge Pledge Agreement. The Pledgors waive diligence, presentment, protest, demand for payment and notice of default or nonpayment to or upon the Pledgors secondarily obligated with respect to any of the Secured Obligations.
Appears in 1 contract
Amendments, etc. with respect to the Secured Obligations. The Pledgors Borrower shall remain obligated hereunder, and the Collateral shall remain subject to the Lien granted hereby, notwithstanding that, without any reservation of rights against the PledgorsBorrower, and without notice to or further assent by the PledgorsBorrower, any demand for payment of any of the Secured Obligations made by the Bridge Collateral Agent or any Bridge Lender may be rescinded by the Bridge Collateral Agent or such Bridge Lender, and any of the Secured Obligations continued, and the Secured Obligations, or the liability of the Pledgors any Issuer or any other Person upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered, surrendered or released by the Bridge Collateral Agent or any Bridge Lender, and the Bridge Agreement, the Rollover Loans, any other Loan Documents and any other documents executed and delivered in connection therewith may be amended, modified, supplemented or terminated, in whole or part, as the Bridge Lenders may deem advisable from time to time, and any guarantee, right of offset or other collateral security at any time held by the Bridge Collateral Agent or any Bridge Lender for the payment of the Secured Obligations may be sold, exchanged, waived, surrendered or released. Neither the Bridge Collateral Agent nor any Bridge Lender, The Lender shall have any no obligation to protect, secure, perfect or insure any other Lien at any time held by it as security for the Secured Obligations or any property subject thereto. The Pledgors waive Borrower waives any and all notice of the creation, renewal, extension or accrual of any of the Secured Obligations and notice of or proof of reliance by the Bridge Collateral Agent or any Bridge Lender upon this Bridge Pledge Agreement; the Secured Obligations, and any of them, shall conclusively be deemed to have been created, contracted or incurred in reliance upon this Bridge Pledge Agreement; and all dealings between among any one or more of the PledgorsIssuers, on the one hand, and Borrower or the Bridge Collateral Agent and the Bridge Lenders, on the other, Lender shall likewise be conclusively presumed to have been had or consummated in reliance upon this Bridge Pledge Agreement. The Pledgors waive Borrower waives diligence, presentment, protest, demand for payment presentment and notice of default or nonpayment protest to or upon any Issuer or the Pledgors Borrower with respect to any of the Secured Obligations.
Appears in 1 contract
Samples: Master Loan and Security Agreement (New Century Financial Corp)
Amendments, etc. with respect to the Secured Obligations. The Pledgors Each Guarantor shall remain obligated hereunder, and the Collateral shall remain subject to the Lien granted hereby, hereunder notwithstanding that, without any reservation of rights against the Pledgors, any Guarantor and without notice to or further assent by the Pledgorsany Guarantor, any demand for payment of any of the Secured Obligations made by the Bridge Collateral Agent or any Bridge Lender Lenders may be rescinded by the Bridge Collateral Agent or such Bridge Lender, Lenders and any of the Secured Obligations continued, and the Secured Obligations, or the liability of the Pledgors or any other Person upon or for any part thereof, or any collateral security or guarantee guaranty therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered, surrendered or released by the Bridge Collateral Agent or any Bridge LenderLenders, and the Bridge Agreement, Facility Agreement and the Rollover Loans, any other Loan Transaction Documents and any other documents executed and delivered in connection therewith may be amended, modified, supplemented or terminated, in whole or in part, as the Bridge Lenders may deem advisable from time to time, and any guarantee, right of offset or other collateral security at any time held by the Bridge Collateral Agent or any Bridge Lender for the payment of the Secured Obligations may be sold, exchanged, waived, surrendered or released. Neither the Bridge Collateral Agent nor any Bridge Lender, Lenders shall have any no obligation to protect, secure, perfect or insure any other Lien at any time held by it as security for the Secured Obligations or for the guaranty contained in this Section 2 or any property subject thereto. The Pledgors waive Lenders may, from time to time, in their reasonable discretion and without notice to the Guarantors (or any and of them), take any or all notice of the creationfollowing actions: (a) retain or obtain a security interest in any personal property to secure any of the Secured Obligations or any obligation hereunder, renewal(b) retain or obtain the primary or secondary obligation of any obligor or obligors, extension in addition to the undersigned, with respect to any of the Secured Obligations, (c) extend or accrual renew any of the Secured Obligations for one or more periods (whether or not longer than the original period), alter or exchange any of the Secured Obligations, or release or compromise any obligation of any of the undersigned hereunder or any obligation of any nature of any other obligor with respect to any of the Secured Obligations, (d) release any guaranty or right of offset or its security interest in, or surrender, release or permit any substitution or exchange for, all or any part of any personal property securing any of the Secured Obligations or any obligation hereunder, or extend or renew for one or more periods (whether or not longer than the original period) or release, compromise, alter or exchange any obligations of any nature of any obligor with respect to any such personal property, and (e) resort to the undersigned (or any of them) for payment of any of the Secured Obligations and notice when due, whether or not Lenders shall have resorted to any personal property securing any of or proof of reliance by the Bridge Collateral Agent Secured Obligations or any Bridge Lender upon this Bridge Pledge Agreement; obligation hereunder or shall have proceeded against any other of the Secured Obligations, and undersigned or any of them, shall conclusively be deemed to have been created, contracted other obligor primarily or incurred in reliance upon this Bridge Pledge Agreement; and all dealings between the Pledgors, on the one hand, and the Bridge Collateral Agent and the Bridge Lenders, on the other, shall likewise be conclusively presumed to have been had or consummated in reliance upon this Bridge Pledge Agreement. The Pledgors waive diligence, presentment, protest, demand for payment and notice of default or nonpayment to or upon the Pledgors secondarily obligated with respect to any of the Secured Obligations.
Appears in 1 contract
Amendments, etc. with respect to the Secured Obligations. The Pledgors Each Loan Guarantor shall remain obligated hereunder, and the Collateral shall remain subject to the Lien granted hereby, hereunder notwithstanding that, without any reservation of rights against the Pledgors, any Loan Guarantor and without notice to or further assent by the Pledgorsany Loan Guarantor, any demand for payment of any of the Secured Obligations made by the Bridge Collateral Agent or any Bridge Lender may be rescinded by the Bridge Collateral Agent or such Bridge Lender, Lender and any of the Secured Obligations continued, and the Secured Obligations, or the liability of the Pledgors or any other Person upon or for any part thereof, or any collateral security or guarantee guaranty therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered, surrendered or released by the Bridge Collateral Agent or any Bridge Lender, and this Agreement and the Bridge Agreement, the Rollover Loans, any other Loan Documents and any other documents executed and delivered in connection herewith and therewith may be amended, modified, supplemented or terminated, in whole or in part, as the Bridge Lenders Lender may deem advisable from time to time, and any guarantee, right of offset or other collateral security at any time held by the Bridge Collateral Agent or any Bridge . Lender for the payment of the Secured Obligations may be sold, exchanged, waived, surrendered or released. Neither the Bridge Collateral Agent nor any Bridge Lender, shall have any no obligation to protect, secure, perfect or insure any other Lien at any time held by it as security for the Secured Obligations or for the guaranty contained in this Section 15 or any property subject thereto. The Pledgors waive Lender may, from time to time, at its sole discretion and without notice to any and Loan Guarantor, take any or all notice of the creationfollowing actions: (a) retain or obtain a security interest in any property to secure any of the Secured Obligations or any obligation hereunder, renewal(b) retain or obtain the primary or secondary obligation of any obligor or obligors, extension in addition to the undersigned, with respect to any of the Secured Obligations, (c) extend or accrual renew any of the Secured Obligations for one or more periods (whether or not longer than the original period), alter or exchange any of the Secured Obligations, or release or compromise any obligation of any of the undersigned hereunder or any obligation of any nature of any other obligor with respect to any of the Secured Obligations, (d) release any guaranty or right of offset or its security interest in, or surrender, release or permit any substitution or exchange for, all or any part of any property securing any of the Secured Obligations or any obligation hereunder, or extend or renew for one or more periods (whether or not longer than the original period) or release, compromise, alter or exchange any obligations of any nature of any obligor with respect to any such property, and (e) resort to the undersigned (or any of them) for payment of any of the Secured Obligations and notice when due, whether or not Lender shall have resorted to any property securing any of or proof of reliance by the Bridge Collateral Agent Secured Obligations or any Bridge Lender upon this Bridge Pledge Agreement; obligation hereunder or shall have proceeded against any other of the Secured Obligations, and undersigned or any of them, shall conclusively be deemed to have been created, contracted other obligor primarily or incurred in reliance upon this Bridge Pledge Agreement; and all dealings between the Pledgors, on the one hand, and the Bridge Collateral Agent and the Bridge Lenders, on the other, shall likewise be conclusively presumed to have been had or consummated in reliance upon this Bridge Pledge Agreement. The Pledgors waive diligence, presentment, protest, demand for payment and notice of default or nonpayment to or upon the Pledgors secondarily obligated with respect to any of the Secured Obligations.
Appears in 1 contract
Samples: Loan and Security Agreement (Camping World Holdings, Inc.)
Amendments, etc. with respect to the Secured Obligations. The Pledgors Each Guarantor shall remain obligated hereunder, and the Collateral shall remain subject to the Lien granted hereby, hereunder notwithstanding that, without any reservation of rights against the Pledgors, any Guarantor and without notice to or further assent by the Pledgorsany Guarantor, any demand for payment of any of the Secured Obligations made by the Bridge Collateral Administrative Agent, the Australian Administrative Agent or any Bridge Lender may be rescinded by the Bridge Collateral Administrative Agent, the Australian Administrative Agent or such Bridge Lender, Lender and any of the Secured Obligations continued, and the Secured Obligations, or the liability of the Pledgors or any other Person upon or for any part thereof, or any collateral security or guarantee guaranty therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered, surrendered or released by the Bridge Collateral Administrative Agent, the Australian Administrative Agent or any Bridge Lender, and the Bridge Agreement, Credit Agreement and the Rollover Loans, any other Loan Documents and any other documents executed and delivered in connection therewith may be amended, modified, supplemented or terminated, in whole or in part, as the Bridge Administrative Agent (or the Required Lenders or all the Lenders, as the case may be) may deem advisable from time to time, and any guarantee, right of offset or other collateral security at any time held by the Bridge Collateral Agent or any Bridge Lender for the payment of the Secured Obligations may be sold, exchanged, waived, surrendered or released. Neither the Bridge Collateral Administrative Agent, the Australian Administrative Agent nor any Bridge Lender, Lender shall have any obligation to protect, secure, perfect or insure any other Lien at any time held by it as security for the Secured Obligations or for the guaranty contained in this Section 2 or any property subject thereto. The Pledgors waive Administrative Agent, the Australian Administrative Agent or any Lender may, from time to time, at its sole discretion and without notice to any Guarantor (or any of them), take any or all notice of the creationfollowing actions: (a) retain or obtain a security interest in any personal property to secure any of the Secured Obligations or any obligation hereunder, renewal(b) retain or obtain the primary or secondary obligation of any obligor or obligors, extension in addition to the undersigned, with respect to any of the Secured Obligations, (c) extend or accrual renew any of the Secured Obligations for one or more periods (whether or not longer than the original period), alter or exchange any of the Secured Obligations, or release or compromise any obligation of any of the undersigned hereunder or any obligation of any nature of any other obligor with respect to any of the Secured Obligations, (d) release any guaranty or right of offset or its security interest in, or surrender, release or permit any substitution or exchange for, all or any part of any property securing any of the Secured Obligations or any obligation hereunder, or extend or renew for one or more periods (whether or not longer than the original period) or release, compromise, alter or exchange any obligations of any nature of any obligor with respect to any such property, and (e) resort to the undersigned (or any of them) for payment of any of the Secured Obligations and notice of when due, whether or proof of reliance by not the Bridge Collateral Administrative Agent, the Australian Administrative Agent or such Lender shall have resorted to any Bridge Lender upon this Bridge Pledge Agreement; property securing any of the Secured Obligations, and Obligations or any obligation hereunder or shall have proceeded against any other of them, shall conclusively be deemed to have been created, contracted the undersigned or incurred in reliance upon this Bridge Pledge Agreement; and all dealings between the Pledgors, on the one hand, and the Bridge Collateral Agent and the Bridge Lenders, on the other, shall likewise be conclusively presumed to have been had any other obligor primarily or consummated in reliance upon this Bridge Pledge Agreement. The Pledgors waive diligence, presentment, protest, demand for payment and notice of default or nonpayment to or upon the Pledgors secondarily obligated with respect to any of the Secured Obligations.
Appears in 1 contract
Samples: Guaranty and Collateral Agreement (Multi Color Corp)
Amendments, etc. with respect to the Secured Obligations. The Pledgors Each Grantor shall remain obligated hereunder, and the Collateral shall remain subject pursuant to the Lien granted hereby, this Agreement notwithstanding that, without any reservation of rights against the Pledgors, any Grantor and without notice to or further assent by the Pledgorsany Grantor, any demand for payment of any of the Secured Obligations made by the Bridge Collateral Agent, the Advance Lender, the Purchase Money Notes Guarantor or the NGPMN Agent or any Bridge Lender may be rescinded by the Bridge Collateral Agent or such Bridge Lender, Person and any of the Secured Obligations continued, and the Secured Obligations, or the liability of the Pledgors or any other Person upon or for any part thereof, or any collateral security or guarantee guaranty therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered, surrendered or released by the Bridge Collateral Agent Agent, the Advance Lender, the Purchase Money Notes Guarantor or any Bridge Lenderthe NGPMN Agent, as the case might be, and the Bridge Advance Facility Agreement, the Rollover Loansany Purchase Money Notes Guaranty, any Purchase Money Notes and the other Loan Transaction Documents and any other documents executed and delivered in connection therewith may be amended, modified, supplemented or terminated, in whole or in part, as the Bridge Lenders may Collateral Agent, the Advance Lender, the Purchase Money Notes Guarantor or the NGPMN Agent might deem reasonably advisable from time to time, and any guaranteecollateral security, guaranty or right of offset or other collateral security at any time held by the Bridge Collateral Agent or any Bridge Lender for the payment of the Secured Obligations may be soldsold (in the case of any such collateral security), exchanged, waived, surrendered or released. Neither the Bridge The Collateral Agent nor any Bridge Lender, shall not have any obligation to protect, secure, perfect or insure any other Lien at any time held by it as security for the Secured Obligations or for the guaranty contained in this Article VI or any property subject thereto. The Pledgors waive any and all notice of the creation, renewal, extension or accrual of any of the Secured Obligations and notice of or proof of reliance by the Bridge Collateral Agent or any Bridge Lender upon this Bridge Pledge Agreement; the Secured Obligations, and any of them, shall conclusively be deemed to have been created, contracted or incurred in reliance upon this Bridge Pledge Agreement; and all dealings between the Pledgors, on the one hand, and the Bridge Collateral Agent and the Bridge Lenders, on the other, shall likewise be conclusively presumed to have been had or consummated in reliance upon this Bridge Pledge Agreement. The Pledgors waive diligence, presentment, protest, demand for payment and notice of default or nonpayment to or upon the Pledgors with respect to any of the Secured Obligations.
Appears in 1 contract
Amendments, etc. with respect to the Secured Obligations. The Pledgors Guarantor shall remain obligated hereunder, and the Collateral shall remain subject to the Lien granted hereby, hereunder notwithstanding that, without any reservation of rights against the Pledgors, Guarantor and without notice to or further assent by the PledgorsGuarantor, any demand for payment of any of the Secured Obligations made by the Bridge Collateral Agent or any Bridge Lender Holder may be rescinded by the Bridge Collateral Agent or such Bridge Lender, Holder and any of the Secured Obligations continued, and the Secured Obligations, or the liability of the Pledgors or any other Person upon or for any part thereof, or any collateral security or guarantee guaranty therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered, surrendered or released by the Bridge Collateral Agent or any Bridge Lender, Holder and the Bridge Agreement, the Rollover Loans, any other Loan Documents and any other documents executed and delivered in connection therewith may be amended, modified, supplemented or terminated, in whole or in part, as the Bridge Lenders Holder may deem advisable from time to time, and any guarantee, right of offset or other collateral security at any time held by the Bridge Collateral Agent or any Bridge Lender for the payment of the Secured Obligations may be sold, exchanged, waived, surrendered or released. Neither the Bridge Collateral Agent nor any Bridge Lender, The Holder shall have any no obligation to protect, secure, perfect or insure any other Lien at any time held by it as security for the Secured Obligations or for the guaranty contained in this Section 2 or any property subject thereto. The Pledgors waive Holder may, from time to time, at its sole and absolute discretion and without notice to the Guarantor, take any and or all notice of the creationfollowing actions: (a) retain or obtain a security interest in any property to secure any of the Secured Obligations or any obligation hereunder, renewal(b) retain or obtain the primary or secondary obligation of any obligor or obligors, extension in addition to the Grantors, with respect to any of the Secured Obligations, (c) extend or accrual renew any of the Secured Obligations for one or more periods (whether or not longer than the original period), alter or exchange any of the Secured Obligations, or release or compromise any obligation of any of the Grantors hereunder or any obligation of any nature of any other obligor with respect to any of the Secured Obligations, (d) release any guaranty or right of offset or its security interest in, or surrender, release or permit any substitution or exchange for, all or any part of any property securing any of the Secured Obligations or any obligation hereunder, or extend or renew for one or more periods (whether or not longer than the original period) or release, compromise, alter or exchange any obligations of any nature of any obligor with respect to any such property, and (e) resort to the Grantors (or any of them) for payment of any of the Secured Obligations and notice when due, whether or not the Holder shall have resorted to any property securing any of or proof of reliance by the Bridge Collateral Agent Secured Obligations or any Bridge Lender upon this Bridge Pledge Agreement; obligation hereunder or shall have proceeded against any other of the Secured Obligations, and Grantors or any of them, shall conclusively be deemed to have been created, contracted other obligor primarily or incurred in reliance upon this Bridge Pledge Agreement; and all dealings between the Pledgors, on the one hand, and the Bridge Collateral Agent and the Bridge Lenders, on the other, shall likewise be conclusively presumed to have been had or consummated in reliance upon this Bridge Pledge Agreement. The Pledgors waive diligence, presentment, protest, demand for payment and notice of default or nonpayment to or upon the Pledgors secondarily obligated with respect to any of the Secured Obligations.
Appears in 1 contract
Samples: Guaranty and Collateral Agreement (Investview, Inc.)
Amendments, etc. with respect to the Secured Obligations. The Pledgors Each Loan Guarantor shall remain obligated hereunder, and the Collateral shall remain subject to the Lien granted hereby, hereunder notwithstanding that, without any reservation of rights against the Pledgors, any Loan Guarantor and without notice to or further assent by the Pledgorsany Loan Guarantor, any demand for payment of any of the Secured Obligations made by the Bridge Collateral Agent or any Bridge Lender may be rescinded by the Bridge Collateral Agent or such Bridge Lender, Lender and any of the Secured Obligations continued, and the Secured Obligations, or the liability of the Pledgors or any other Person upon or for any part thereof, or any collateral security or guarantee guaranty therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered, surrendered or released by the Bridge Collateral Agent or any Bridge Lender, and this Agreement and the Bridge Agreement, the Rollover Loans, any other Loan Documents and any other documents executed and delivered in connection herewith and therewith may be amended, modified, supplemented or terminated, in whole or in part, as the Bridge Lenders Lender may deem advisable from time to time, and any guarantee, right of offset or other collateral security at any time held by the Bridge Collateral Agent or any Bridge . Lender for the payment of the Secured Obligations may be sold, exchanged, waived, surrendered or released. Neither the Bridge Collateral Agent nor any Bridge Lender, shall have any no obligation to protect, secure, perfect or insure any other Lien at any time held by it as security for the Secured Obligations or for the guaranty contained in this Section 15 or any property subject thereto. The Pledgors waive Lender may, from time to time, at its sole discretion and without notice to any and Loan Guarantor (or any of them), take any or all notice of the creationfollowing actions: (a) retain or obtain a security interest in any property to secure any of the Secured Obligations or any obligation hereunder, renewal(b) retain or obtain the primary or secondary obligation of any obligor or obligors, extension in addition to the undersigned, with respect to any of the Secured Obligations, (c) extend or accrual renew any of the Secured Obligations for one or more periods (whether or not longer than the original period), alter or exchange any of the Secured Obligations, or release or compromise any obligation of any of the undersigned hereunder or any obligation of any nature of any other obligor with respect to any of the Secured Obligations, (d) release any guaranty or right of offset or its security interest in, or surrender, release or permit any substitution or exchange for, all or any part of any property securing any of the Secured Obligations or any obligation hereunder, or extend or renew for one or more periods (whether or not longer than the original period) or release, compromise, alter or exchange any obligations of any nature of any obligor with respect to any such property, and (e) resort to the undersigned (or any of them) for payment of any of the Secured Obligations and notice when due, whether or not Lender shall have resorted to any property securing any of or proof of reliance by the Bridge Collateral Agent Secured Obligations or any Bridge Lender upon this Bridge Pledge Agreement; obligation hereunder or shall have proceeded against any other of the Secured Obligations, and undersigned or any of them, shall conclusively be deemed to have been created, contracted other obligor primarily or incurred in reliance upon this Bridge Pledge Agreement; and all dealings between the Pledgors, on the one hand, and the Bridge Collateral Agent and the Bridge Lenders, on the other, shall likewise be conclusively presumed to have been had or consummated in reliance upon this Bridge Pledge Agreement. The Pledgors waive diligence, presentment, protest, demand for payment and notice of default or nonpayment to or upon the Pledgors secondarily obligated with respect to any of the Secured Obligations.
Appears in 1 contract
Samples: Loan and Security Agreement (Kingsway Financial Services Inc)
Amendments, etc. with respect to the Secured Obligations. The Pledgors Each Guarantor shall remain obligated hereunder, and the Collateral shall remain subject to the Lien granted hereby, notwithstanding that, without any reservation of rights against the Pledgors, any Guarantor and without notice to or further assent by any Guarantor, notwithstanding the Pledgors, fact that: (a) any demand for payment of any of the Secured Obligations made by the Bridge Collateral Agent or any Bridge Lender Lenders may be rescinded by the Bridge Collateral Agent or such Bridge Lender, Lenders and any of the Secured Obligations continued, and (b) the Secured Obligations, or the liability of the Pledgors or any other Person upon or for any part thereof, or any collateral security or guarantee guaranty therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered, surrendered or released by Lenders, or (c) the Bridge Collateral Agent or any Bridge Lender, Facility Agreement and the Bridge Agreement, the Rollover Loans, any other Loan Documents and any other documents executed and delivered in connection therewith may be amended, modified, supplemented or terminated, in whole or in part, as the Bridge Lenders may deem advisable from time to time, and any guarantee, right of offset or other collateral security at any time held by the Bridge Collateral Agent or any Bridge Lender for the payment of the Secured Obligations may be sold, exchanged, waived, surrendered or released. Neither the Bridge Collateral Agent nor any Bridge Lender, Lenders shall have any no obligation to protect, secure, perfect or insure any other Lien at any time held by it as security for the Secured Obligations or for the guaranty contained in this Section 2 or any property subject thereto. The Pledgors waive Lenders may, from time to time, in their reasonable discretion and without notice to the Guarantors (or any and of them), take any or all notice of the creationfollowing actions: (a) retain or obtain a security interest in any personal property of the Grantors constituting Collateral to secure any of the Secured Obligations or any obligation hereunder, renewal(b) retain or obtain the primary or secondary obligation of any obligor or obligors, extension in addition to the undersigned, with respect to any of the Secured Obligations, (c) extend or accrual renew any of the Secured Obligations for one or more periods (whether or not longer than the original period), alter or exchange any of the Secured Obligations, or release or compromise any obligation of any of the undersigned hereunder or any obligation of any nature of any other obligor with respect to any of the Secured Obligations, (d) release any guaranty or right of offset or its security interest in, or surrender, release or permit any substitution or exchange for, all or any part of any personal property securing any of the Secured Obligations or any obligation hereunder, or extend or renew for one or more periods (whether or not longer than the original period) or release, compromise, alter or exchange any obligations of any nature of any obligor with respect to any such personal property, and (e) resort to the undersigned (or any of them) for payment of any of the Secured Obligations and notice when due, whether or not Lenders shall have resorted to any personal property securing any of or proof of reliance by the Bridge Collateral Agent Secured Obligations or any Bridge Lender upon this Bridge Pledge Agreement; obligation hereunder or shall have proceeded against any other of the Secured Obligations, and undersigned or any of them, shall conclusively be deemed to have been created, contracted other obligor primarily or incurred in reliance upon this Bridge Pledge Agreement; and all dealings between the Pledgors, on the one hand, and the Bridge Collateral Agent and the Bridge Lenders, on the other, shall likewise be conclusively presumed to have been had or consummated in reliance upon this Bridge Pledge Agreement. The Pledgors waive diligence, presentment, protest, demand for payment and notice of default or nonpayment to or upon the Pledgors secondarily obligated with respect to any of the Secured Obligations.
Appears in 1 contract
Samples: Guaranty and Security Agreement (Alphatec Holdings, Inc.)
Amendments, etc. with respect to the Secured Obligations. The Pledgors (a) Each Guarantor shall remain obligated hereunder, and the Collateral shall remain subject to the Lien granted hereby, hereunder notwithstanding that, without any reservation of rights against the Pledgors, any Guarantor and without notice to or further assent by the Pledgorsany Guarantor, any demand for payment of any of the Secured Obligations made by the Bridge Collateral Agent or any Bridge Lender the Required Purchasers may be rescinded by the Bridge Collateral Agent or such Bridge Lender, the Required Purchasers and any of the Secured Obligations continued, and the Secured Obligations, or the liability of the Pledgors or any other Person upon or for any part thereof, or any collateral security or guarantee guaranty therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered, surrendered or released by the Bridge Collateral Agent (or any Bridge Lenderthe Required Purchasers or all the Purchasers, as the case may be) and the Bridge Agreement, Note Purchase Agreement and the Rollover Loans, any other Loan Note Documents and any other documents executed and delivered in connection therewith may be amended, modified, supplemented or terminated, in whole or in part, as Collateral Agent (or the Bridge Lenders Required Purchasers or all the Purchasers, as the case may be) may deem advisable from time to time, time in accordance with the Note Purchase Agreement and any guarantee, right of offset or the other collateral security at any time held by the Bridge Collateral Agent or any Bridge Lender for the payment of the Secured Obligations may be sold, exchanged, waived, surrendered or releasedNote Documents. Neither the Bridge Collateral Agent nor any Bridge Lender, Purchaser shall have any obligation to protect, secure, perfect or insure any other Lien at any time held by it as security for the Secured Obligations or for the guaranty contained in this Section 2 or any property subject thereto. The Pledgors waive .
(b) Without discharging any Guarantor from any of its obligations hereunder Collateral Agent or any Purchaser may, from time to time, at its sole discretion and without notice to or the consent of any Guarantor, take any or all notice of the creation, renewal, extension following actions: (i) retain or accrual of obtain a security interest in any property to secure any of the Secured Obligations and notice of or proof of reliance by the Bridge Collateral Agent or any Bridge Lender upon this Bridge Pledge Agreement; obligation hereunder, (ii) retain or obtain the Secured Obligationsprimary or secondary obligation of any obligor or obligors, and any of themin addition to the undersigned, shall conclusively be deemed to have been created, contracted or incurred in reliance upon this Bridge Pledge Agreement; and all dealings between the Pledgors, on the one hand, and the Bridge Collateral Agent and the Bridge Lenders, on the other, shall likewise be conclusively presumed to have been had or consummated in reliance upon this Bridge Pledge Agreement. The Pledgors waive diligence, presentment, protest, demand for payment and notice of default or nonpayment to or upon the Pledgors with respect to any of the Secured Obligations, (iii) amend, modify, or supplement any terms of the Note Documents or extend or renew any of the Secured Obligations for one or more periods (whether or not longer than the original period), alter or exchange any of the Secured Obligations, or release or compromise any obligation of any of the undersigned hereunder or any obligation of any nature of any other obligor with respect to any of the Secured Obligations, (iv) release any guaranty or right of offset or its security interest in, or surrender, release or permit any substitution or exchange for, all or any part of any property securing any of the Secured Obligations or any obligation hereunder, or extend or renew for one or more periods (whether or not longer than the original period) or release, compromise, alter or exchange any obligations of any nature of any obligor with respect to any such property, and (v) resort to the undersigned (or any of them) for payment of any of the Secured Obligations when due, whether or not Collateral Agent or the Purchasers shall have resorted to any property securing any of the Secured Obligations or any obligation hereunder or shall have proceeded against any other of the undersigned or any other obligor primarily or secondarily obligated with respect to any of the Secured Obligations. This Guaranty includes any and all Secured Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Secured Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Secured Obligations after prior Secured Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, Guarantor hereby waives any right to revoke this Guaranty as to future Obligations. If such a revocation is effective notwithstanding the foregoing waiver, Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by Collateral Agent, (b) no such revocation shall apply to any Secured Obligations in existence on such date (including, but not limited to, any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Secured Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Collateral Agent or Purchasers in existence on the date of such revocation, (d) no payment by Guarantor, Grantor, or from any other source, prior to the date of such revocation shall reduce the maximum obligation of Guarantor hereunder, and (e) any payment by Borrower or from any source other than Guarantor, subsequent to the date of such revocation, shall first be applied to that portion of the Secured Obligations as to which the revocation is effective and which are not, therefore, guaranteed hereunder, and to the extent so applied shall not reduce the maximum obligation of Guarantor hereunder.
Appears in 1 contract
Samples: Guaranty and Collateral Agreement (Numerex Corp /Pa/)
Amendments, etc. with respect to the Secured Obligations. The Pledgors To the fullest extent permitted by applicable law, each party hereto shall remain obligated hereunder, and the Collateral shall remain subject to the Lien granted hereby, hereunder notwithstanding that, without any reservation of rights against the Pledgors, any party and without notice to or further assent by the Pledgorsany party, any demand for payment of any of the Secured Obligations made by the Bridge Collateral Agent or any Bridge Lender Secured Party may be rescinded by the Bridge Collateral Agent or such Bridge Lender, Secured Party and any of the Secured Obligations continued, and the Secured Obligations, or the liability of the Pledgors or any other Person upon or for any part thereof, or any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered, surrendered or released by the Bridge Collateral Agent or any Bridge LenderSecured Party, and the Bridge Agreement, the Rollover Loans, any other Loan Secured Debt Documents and any other documents executed and delivered in connection therewith may be amended, modified, supplemented or terminated, in whole or in part, as the Bridge Lenders may deem advisable from time to timetime in accordance with the respective terms thereof, and any guaranteecollateral security, guarantee or right of offset or other collateral security at any time held by the Bridge Collateral Agent or any Bridge Lender Secured Party for the payment of the Secured Obligations may be sold, exchanged, waived, surrendered or released. Neither the Bridge Collateral Agent nor any Bridge Lender, No Secured Party shall have any obligation to protect, secure, perfect or insure any other Lien at any time held by it as security for the Secured Obligations or for the guarantee contained in this Section 2 or any property subject thereto. The Pledgors waive Each party hereto waives any and all notice of the creation, renewal, extension or accrual of any of the Secured Obligations and notice of or proof of reliance by any Secured Party upon any right arising under this Agreement. To the Bridge Collateral Agent or any Bridge Lender upon this Bridge Pledge Agreement; fullest extent permitted by applicable law, each of the Secured Obligations, and any of them, Obligations shall conclusively be deemed to have been created, contracted or incurred incurred, or renewed, extended, amended or waived, in reliance upon the provisions of this Bridge Pledge Agreement; and all dealings between any of the Pledgors, on Grantors and any of the one hand, and the Bridge Collateral Agent and the Bridge Lenders, on the other, Secured Parties likewise shall likewise be conclusively presumed to have been had or consummated in reliance upon this Bridge Pledge Agreement. The Pledgors waive diligence, presentment, protest, demand for payment and notice of default or nonpayment to or upon the Pledgors with respect to any of the Secured Obligationssuch provisions.
Appears in 1 contract
Amendments, etc. with respect to the Secured Obligations. The Pledgors (a) Each Guarantor shall remain obligated hereunder, and the Collateral shall remain subject to the Lien granted hereby, hereunder notwithstanding that, without any reservation of rights against the Pledgors, any Guarantor and without notice to or further assent by the Pledgorsany Guarantor, any demand for payment of any of the Secured Obligations made by the Bridge Collateral Agent or any Bridge Lender Purchaser may be rescinded by the Bridge Collateral Agent or such Bridge Lender, Purchaser and any of the Secured Obligations continued, and the Secured Obligations, or the liability of the Pledgors or any other Person upon or for any part thereof, or any collateral security or guarantee guaranty therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered, surrendered or released by the Bridge Collateral Agent or any Bridge Lender, Purchaser and the Bridge Agreement, Note Purchase Agreement and the Rollover Loans, any other Loan Note Documents and any other documents executed and delivered in connection therewith may be amended, modified, supplemented or terminated, in whole or in part, as the Bridge Lenders Purchaser may deem advisable from time to time, time in accordance with the Note Purchase Agreement and any guarantee, right of offset or the other collateral security at any time held by the Bridge Collateral Agent or any Bridge Lender for the payment of the Secured Obligations may be sold, exchanged, waived, surrendered or releasedNote Documents. Neither the Bridge Collateral Agent nor any Bridge Lender, Purchaser shall not have any obligation to protect, secure, perfect or insure any other Lien at any time held by it as security for the Secured Obligations or for the guaranty contained in this Section 2 or any property subject thereto. The Pledgors waive .
(b) Without discharging any Guarantor from any of its obligations hereunder Purchaser may, from time to time, at its sole discretion and without notice to or the consent of any Guarantor, take any or all notice of the creation, renewal, extension following actions: (i) retain or accrual of obtain a security interest in any property to secure any of the Secured Obligations and notice of or proof of reliance by the Bridge Collateral Agent or any Bridge Lender upon this Bridge Pledge Agreement; obligation hereunder, (ii) retain or obtain the Secured Obligationsprimary or secondary obligation of any obligor or obligors, and any of themin addition to the undersigned, shall conclusively be deemed to have been created, contracted or incurred in reliance upon this Bridge Pledge Agreement; and all dealings between the Pledgors, on the one hand, and the Bridge Collateral Agent and the Bridge Lenders, on the other, shall likewise be conclusively presumed to have been had or consummated in reliance upon this Bridge Pledge Agreement. The Pledgors waive diligence, presentment, protest, demand for payment and notice of default or nonpayment to or upon the Pledgors with respect to any of the Secured Obligations, (iii) amend, modify, or supplement any terms of the Note Documents or extend or renew any of the Secured Obligations for one or more periods (whether or not longer than the original period), alter or exchange any of the Secured Obligations, or release or compromise any obligation of any of the undersigned hereunder or any obligation of any nature of any other obligor with respect to any of the Secured Obligations, (iv) release any guaranty or right of offset or its security interest in, or surrender, release or permit any substitution or exchange for, all or any part of any property securing any of the Secured Obligations or any obligation hereunder, or extend or renew for one or more periods (whether or not longer than the original period) or release, compromise, alter or exchange any obligations of any nature of any obligor with respect to any such property, and (v) resort to the undersigned (or any of them) for payment of any of the Secured Obligations when due, whether or not Purchaser shall have resorted to any property securing any of the Secured Obligations or any obligation hereunder or shall have proceeded against any other of the undersigned or any other obligor primarily or secondarily obligated with respect to any of the Secured Obligations. This Guaranty includes any and all Secured Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Secured Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Secured Obligations after prior Secured Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, Guarantor hereby waives any right to revoke this Guaranty as to future Obligations. If such a revocation is effective notwithstanding the foregoing waiver, Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by Purchaser, (b) no such revocation shall apply to any Secured Obligations in existence on such date (including, but not limited to, any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Secured Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Purchaser in existence on the date of such revocation, (d) no payment by Guarantor, Grantor, or from any other source, prior to the date of such revocation shall reduce the maximum obligation of Guarantor hereunder, and (e) any payment by Borrower or from any source other than Guarantor, subsequent to the date of such revocation, shall first be applied to that portion of the Secured Obligations as to which the revocation is effective and which are not, therefore, guaranteed hereunder, and to the extent so applied shall not reduce the maximum obligation of Guarantor hereunder.
Appears in 1 contract