Civil Code Section 2822 Waiver Sample Clauses

Civil Code Section 2822 Waiver. If, at any time, any surety exists that is liable for only a portion of Borrower obligations under the Loan Documents and Borrower provides partial satisfaction of Borrower obligations, to the extent California law is ever applied to the transaction notwithstanding the parties choice of law, Borrower waives any right they would otherwise have under California Civil Code Section 2822, or under any similar law or otherwise, to designate the portion of Borrower obligations to be satisfied. The designation of the portion of Borrower obligations to be satisfied will, to the extent not expressly made by the terms of the Loan Documents, be made by Bank rather than by Borrower.