Common use of Borrower Waivers Clause in Contracts

Borrower Waivers. To the full extent permitted by law, Borrower hereby waives (i) presentment, demand and protest and notice of presentment, protest, default, non payment, maturity, release, compromise, settlement, extension or renewal of any or all commercial paper, accounts, contract rights, documents, instruments, chattel paper and guaranties at any time held by Lender on which Borrower may in any way be liable and hereby ratifies and confirms whatever Lender may do in this regard; (ii) notice prior to taking possession or control of the Collateral or any bond or security which might be required by any court prior to allowing Lender to exercise any of Lender's remedies, including the issuance of an immediate writ of possession, except as expressly required in any of the Loan Documents; (iii) any marshalling of assets, or any right to compel Lender to resort first to any Collateral or other Persons before pursuing Borrower for payment of the Obligations and any defenses based on suretyship or impairment of Collateral; (iv) the benefit of all valuation, appraisement and exemption laws; (v) any right to require Lender to terminate its security interest in the Collateral or in any other property of Borrower until termination of this Agreement and the execution by Borrower and by any person whose loans to Borrower are used in whole or in part to satisfy the Obligations, of an agreement indemnifying Lender from any loss or damage Lender may incur as the result of dishonored or unsatisfied items of any account debtor applied to the Obligations; and (vi) notice of acceptance hereof. Borrower acknowledges that the foregoing waivers are a material inducement to Lender's entering into this Agreement and that Lender is relying upon the foregoing waivers in its future dealings with Borrower.

Borrower Waivers. To the full extent permitted by law, The Borrower hereby waives (i) presentment, demand and protest and notice of presentmentdemand, notice, protest, defaultnotice of acceptance of this Agreement, non paymentnotice of loans made, maturitycredit extended, releasecollateral received or delivered or other action taken in reliance hereon and all other demands and notices of any description. With respect to Obligations, compromisethe Loan Documents and the Collateral, the Borrower assents to any extension or postponement of the time of payment or any other indulgence, to any substitution, exchange or release of Collateral, to the addition or release of any party or person primarily or secondarily liable, to the acceptance of partial payments thereon and the settlement, extension compromising or renewal adjusting of any thereof, all in such manner and at such time or all commercial papertimes as the Collateral Agent may deem advisable. Except as may be required by the Code, accountsthe Collateral Agent shall have no duty to the Borrower as to the collection or protection of Collateral or any income thereon, contract rightsnor as to the preservation of rights against prior parties, documentsnor as to the preservation of any rights pertaining thereto beyond the safe custody thereof. The Collateral Agent shall not, instruments, chattel paper and guaranties at under any time held by Lender on which Borrower may circumstances or in any way be liable and hereby ratifies and confirms whatever Lender may do event whatsoever, have any liability to the Borrower for any error or omission or delay of any kind occurring in this regard; (ii) notice prior to taking possession the liquidation of or control realization upon any of the Collateral, including any instrument received in payment thereof, or any damage resulting therefrom. Without limiting any indemnity or other rights of the Collateral Agent or any bond or security which might be required by any court prior to allowing Lender to exercise any of Lender's remedies, including the issuance of an immediate writ of possession, except as expressly required in any of the Lenders hereunder or under the Loan Documents; , the Borrower shall indemnify and hold harmless (iiion an after tax basis) the Collateral Agent and the Lenders against any marshalling of assetsclaim, loss, expense or any right to compel Lender to resort first to any Collateral or other Persons before pursuing Borrower for payment damage arising out of the Obligations and liquidation of or realization upon any defenses based on suretyship or impairment of the Collateral; (iv) the benefit of all valuation, appraisement and exemption laws; (v) including, without limitation, any right to require Lender to terminate its security interest instrument received in the Collateral or in any other property of Borrower until termination of this Agreement and the execution by Borrower and by any person whose loans to Borrower are used in whole or in part to satisfy the Obligationspayment thereof. THE BORROWER ACKNOWLEDGES THAT THE TRANSACTION OF WHICH THIS AGREEMENT IS A PART IS A COMMERCIAL TRANSACTION, of an agreement indemnifying Lender from any loss or damage Lender may incur as the result of dishonored or unsatisfied items of any account debtor applied to the Obligations; and (vi) notice of acceptance hereof. Borrower acknowledges that the foregoing waivers are a material inducement to Lender's entering into this Agreement and that Lender is relying upon the foregoing waivers in its future dealings with BorrowerAND HEREBY VOLUNTARILY AND KNOWINGLY WAIVES ITS RIGHTS TO NOTICE AND HEARING AS ALLOWED UNDER DELAWARE LAW, OR OTHERWISE UNDER ANY STATE OR FEDERAL LAW WITH RESPECT TO ANY PREJUDGMENT REMEDY WHICH THE COLLATERAL AGENT MAY DESIRE TO USE.