Authority to Modify Obligations. The undersigned authorizes BANK, from time to time, without notice or demand, and without affecting any of the Obligations of the undersigned hereunder to: a. Renew, extend, amend, waive, restructure, refinance, release, accelerate, or otherwise change the terms of the Obligations and the Security Agreement; b. Consent to the change, restructure or termination of the corporate structure or existence, of the Company, and correspondingly restructure the Obligations; c. Accept partial payment of the Obligations; d. Take and hold security or additional guarantees for the Obligations, and amend, alter, exchange, substitute, transfer, enforce, waive, subordinate, terminate or release any such security or guarantees; e. Apply any security and direct the order and manner of sale thereof as BANK , in its sole and absolute discretion, may determine; and x. Xxxxxx, release on terms satisfactory to BANK or by operation of law or otherwise, compromise, collect, or otherwise liquidate the Obligations and/or security or guarantees therefor in any manner. 4.
Authority to Modify Obligations. Guarantor acknowledges ------------------------------- that the sum of the Obligations may significantly vary from time to time. Guarantor authorizes Agent, at any time and from time to time without notice and without affecting the liability of Guarantor hereunder, to alter the terms of all or any part of the Obligations and any security and guaranties therefor including modification of times for payment and rates of interest; provided that Agent shall not enter into any written amendment to the Revolving Loan Agreement, unless such an amendment is done as part of a workout or restructure occurring after an event of default under the Revolving Loan Agreement, that provides for an extension of the final maturity date or an increase in the principal amount of the loan in excess of Thirty Million Dollars ($30,000,000).
Authority to Modify Obligations. Guarantor authorizes Lender, at any time and from time to time without notice to Guarantor and without affecting the liability of Guarantor hereunder, to: (a) alter the terms of all or any part of the Obligations and any security and Guarantee therefor, including, without limitation, modification of times for payment and rates of interest; (b) accept new or additional instruments, documents, agreements, security or guaranties in connection with all or any part of the Obligations; (c) waive, release, reconvey, terminate, abandon, subordinate, exchange, substitute, transfer, compound, liquidate and enforce all or any part of the Obligations and any security or guaranties therefor, and apply any such security and direct the order or manner of sale thereof (and bid and purchase at any such sale), as Lender in its discretion may determine; (d) release Borrower, any guarantor or any other person from any personal liability with respect to all or any part of the Obligations; and (e) assign this Guarantee in whole or in part.
Authority to Modify Obligations. In accordance with the provisions of the Loan Agreement, each Loan, Note, Security Agreement, and Debt Document, and without causing a release of Guarantor from its obligations hereunder, Secured Party shall be authorized to renew, extend, accelerate or otherwise change the payment schedule or other terms of any Loan; accept partial payments from the Debtor; take and apply any security (if applicable) and exercise any remedy against the Debtor; amend, substitute, waive, subordinate or release any property or additional security or any obligations covered under any Loan; settle, release, compound, compromise, collect or otherwise liquidate the obligations covered under any Loan; and release Debtor from any obligations under any Loan. Secured Party shall not be required to notify Guarantor of any of the foregoing modifications made.
Authority to Modify Obligations. To the extent permitted under Section 4.4 of the Series A Reimbursement Agreement and Section 4.3 of the Series B Reimbursement Agreement, Guarantor authorizes Bank, without notice or demand and without affecting its liability hereunder, from time to time to: (a) renew, extend, accelerate or otherwise change the time for payment of, or otherwise change the terms of the Indebtedness or any part thereof, including increase or decrease of the rate of interest thereon; (b) accept partial payments on the Indebtedness; (c) accept new or additional documents, instruments or agreements relative to the Indebtedness; (d) take and hold security or additional guarantees for the payment of this Guaranty or the Indebtedness, and amend, alter, exchange, substitute, transfer, enforce, waive, subordinate, terminate, modify and release in any manner any such security or guarantees; (e) apply such security and direct the order or manner of sale thereof as Bank in its discretion may determine; (f) release or substitute any one or more of any other guarantors; and (g) settle, release on terms satis-
Authority to Modify Obligations. To the extent permitted under Section 4.6 of the Reimbursement Agreement, Guarantor authorizes Bank, without notice or demand and without affecting its liability hereunder; from time to time to: (a) renew, extend, accelerate or otherwise change the time for payment of, or otherwise change the terms of the Indebtedness or any part thereof, including increase or decrease of the rate of interest thereon; (b) accept partial payments on the Indebtedness; (c) accept new or additional documents, instruments or agreements relative to the Indebtedness; (d) take and hold security or additional guarantees for the payment of this Guaranty or the Indebtedness, and amend, alter, exchange, substitute, transfer, enforce, waive, subordinate, terminate, modify and release in any manner any such security or guarantees; (e) apply such security and direct the order or manner of sale thereof as Bank in its discretion may determine; (f) release or substitute any one or more of any other guarantors; and (g) settle, release on terms satisfactory to Bank or by operation of law or otherwise, compound, compromise, collect or otherwise liquidate any Indebtedness and/or security therefor in any manner, consent to the transfer of security and bid and purchase at any sale, without affecting or impairing the obligations of Guarantor hereunder. Bank may without notice assign this Guaranty in whole or in part.
