Common use of Authorizations To Beneficiary Clause in Contracts

Authorizations To Beneficiary. The Guarantor hereby authorizes the Beneficiary without notice to or demand on the Guarantor and without affecting the Guarantor's liability hereunder, from time to time, to the extent permitted by and in accordance with the terms and provisions of the Operative Documents, to: (i) alter, compromise, renew, extend, accelerate or otherwise change the time for payment or performance of, or otherwise change the terms of the obligations guaranteed hereunder or any part thereof, including increase or decrease of any amount due or which may become due or is the rate of interest thereon; (ii) take and hold security for the payment of this Guaranty or the obligations guaranteed hereunder or any portion thereof, and exchange, enforce, waive and release any such security; (iii) apply such security and direct the order or manner of sale thereof, including, without limitation, a non-judicial sale permitted by the terms of the controlling agreement, as the Beneficiary in its discretion may determine; and (iv) release (without increasing the several obligations of any other party) or substitute any one or more of the endorsers or any other guarantors of the obligations guaranteed hereunder. The Beneficiary may not assign this Guaranty in whole or in part without the prior written consent of the Guarantor. The Guarantor agrees to provide to the Beneficiary upon request copies of the Guarantor's financial statements and a copy of any reports made available to shareholders by sending the same to such party's address as set forth in Section 5(g) hereof.

Authorizations To Beneficiary. The Guarantor hereby authorizes the ----------------------------- Beneficiary without notice to or demand on the Guarantor and without affecting the Guarantor's liability hereunder, from time to time, to the extent permitted by and in accordance with the terms and provisions of the Operative Documents, to: (i) alter, compromise, renew, extend, accelerate or otherwise change the time for payment or performance of, or otherwise change the terms of the obligations guaranteed hereunder or any part thereof, including increase or decrease of any amount due or which may become due or is the rate of interest thereon; (ii) take and hold security for the payment of this Guaranty or the obligations guaranteed hereunder or any portion thereof, and exchange, enforce, waive and release any such security; (iii) apply such security and direct the order or manner of sale thereof, including, without limitation, a non-judicial sale permitted by the terms of the controlling agreement, as the Beneficiary in its discretion may determine; and (iv) release (without increasing the several obligations of any other party) or substitute any one or more of the endorsers or any other guarantors of the obligations guaranteed hereunder. The Beneficiary may not assign this Guaranty in whole or in part without the prior written consent of the Guarantor. The Guarantor agrees to provide to the Beneficiary upon request copies of the Guarantor's financial statements and a copy of any reports made available to shareholders by sending the same to such party's address as set forth in Section 5(g) hereof.

Authorizations To Beneficiary. The Guarantor hereby authorizes the ----------------------------- Beneficiary without notice to or demand on the Guarantor and without affecting the Guarantor's liability hereunder, from time to time, to the extent permitted by and in accordance with the terms and provisions of the Operative Documents, to: (i) alter, compromise, renew, extend, accelerate or otherwise change the time for payment or performance of, or otherwise change the terms of the obligations guaranteed hereunder or any part thereof, including increase or decrease of any amount due or which may become due or is the rate of interest thereon; (ii) take and hold security for the payment of this Guaranty or the obligations guaranteed hereunder or any portion thereof, and exchange, enforce, waive and release any such security; (iii) apply such security and direct the order or manner of sale thereof, including, without limitationimitation, a non-judicial sale permitted by the terms of the controlling agreement, as the Beneficiary in its discretion may determine; and (iv) release (without increasing the several obligations of any other party) or substitute any one or more of the endorsers or any other guarantors of the obligations guaranteed hereunder. The Beneficiary may not assign this Guaranty in whole or in part without the prior written consent of the Guarantor. The Guarantor agrees to provide to the Beneficiary upon request copies of the Guarantor's financial statements and a copy of any reports made available to shareholders by sending the same to such party's address as set forth in Section 5(g) hereof.