Common use of Borrower as Co-Obligor Clause in Contracts

Borrower as Co-Obligor. The Borrower hereby acknowledges that it shall be deemed to be a co-obligor in respect of each New York Term Note. The liability of the Borrower for the obligations evidenced by each New York Term Note shall be absolute and unconditional irrespective of: (i) any lack of validity or enforceability of such New York Term Note, the related New York Mortgage, any other Credit Document, any participating lease for a Hotel Property or any other agreement or instrument relating thereto; (ii) any change in the time, manner, or place of payment of, or in any other term of, such New York Term Note or New York Mortgage, or any other amendment or waiver of or any consent to departure from any other Credit Document or any participating lease for a Hotel Property; (iii) any exchange, release, or nonperfection of any collateral, if applicable, or any release or amendment or waiver of or consent to departure from any other agreement or guaranty, relating to such New York Term Note or any related New York Mortgage; or (iv) any other circumstances which might otherwise constitute a defense available to, or a discharge of the Borrower in respect thereof.

Borrower as Co-Obligor. The Borrower hereby acknowledges that it shall be deemed to be a co-obligor in respect of each New York Term Note. The liability of the Borrower for the obligations evidenced by each New York Term Note shall be absolute and unconditional irrespective of: (i) any lack of validity or enforceability of such New York Term Note, the related New York Mortgage, any other Credit Loan Document, any participating lease for a Hotel Property Asset or any other agreement or instrument relating thereto; (ii) any change in the time, manner, or place of payment of, or in any other term of, such New York Term Note or New York Mortgage, or any other amendment or waiver of or any consent to departure from any other Credit Loan Document or any participating lease for a Hotel PropertyAsset; (iii) any exchange, release, or nonperfection of any collateral, if applicable, or any release or amendment or waiver of or consent to departure from any other agreement or guaranty, relating to such New York Term Note or any related New York Mortgage; or (iv) any other circumstances which might otherwise constitute a defense available to, or a discharge of the Borrower in respect thereof.

Borrower as Co-Obligor. The Borrower hereby acknowledges that it shall be deemed to be a co-obligor in respect of each New York Term Note. The liability of the Borrower for the obligations evidenced by each New York Term Note shall be absolute and unconditional irrespective of: (i) any lack of validity or enforceability of such New York Term Note, the related New York Mortgage, any other Credit Document, any participating lease for a Hotel Property or any other agreement or instrument relating thereto; (ii) any change in the time, manner, or place of payment of, or in any other term of, such New York Term Note or New York Mortgage, or any other amendment or waiver of or any consent to departure from the any other Credit Document or any participating lease for a Hotel Property; (iii) any exchange, release, or nonperfection of any collateral, if applicable, or any release or amendment or waiver of or consent to departure from any other agreement or guaranty, relating to such New York Term Note or any related New York Mortgage; or (iv) any other circumstances which might otherwise constitute a defense available to, or a discharge of the Borrower in respect thereof.