Common use of Defenses of Borrowers Waived Clause in Contracts

Defenses of Borrowers Waived. To the fullest extent permitted by applicable law, the Guarantor waives any defense based on or arising out of any defense of a Borrower or the unenforceability of the Obligations or any part thereof from any cause, or the cessation from any cause of the liability of a Borrower, other than the payment in full in cash of the Obligations. The Administrative Agent and the other Guaranteed Parties may, at their election, compromise or adjust any part of the Obligations, make any other accommodation with the Borrowers or any other guarantor or exercise any other right or remedy available to them against the Borrowers or any other guarantor, without affecting or impairing in any way the liability of the Guarantor hereunder except to the extent the Obligations have been fully, finally paid in cash. To the fullest extent permitted by applicable law, the Guarantor waives any defense arising out of any such election even though such election operates, pursuant to applicable law, to impair or to extinguish any right of reimbursement or subrogation or other right or remedy of Guarantor against a Borrower or any other guarantor, as the case may be.

Defenses of Borrowers Waived. To the fullest extent permitted by applicable law, each of the Guarantor Guarantors waives any defense based on or arising out of any defense of a Borrower any Loan Party or the unenforceability of the Guaranteed Obligations or any part thereof from any cause, or the cessation from any cause of the liability of a Borrowerany Loan Party, other than the payment in full in cash of the ObligationsGuaranteed Obligations (other than contingent indemnification obligations). The Administrative Subject to the terms of the Security Documents, the Collateral Agent and the other Guaranteed Secured Parties may, at their election, foreclose on any security held by one or more of them by one or more judicial or nonjudicial sales, accept an assignment of any such security in lieu of foreclosure, compromise or adjust any part of the Guaranteed Obligations, make any other accommodation with the Borrowers any Loan Party or any other guarantor or exercise any other right or remedy available to them against the Borrowers any Loan Party or any other guarantor, without affecting or impairing in any way the liability of the any Guarantor hereunder except to the extent the Guaranteed Obligations have been fully, finally fully paid in cashcash (other than contingent indemnification obligations). To the fullest extent permitted by applicable law, each of the Guarantor Guarantors waives any defense arising out of any such election even though such election operates, pursuant to applicable law, to impair or to extinguish any right of reimbursement or subrogation or other right or remedy of such Guarantor against a Borrower any Loan Party or any other Guarantor or guarantor, as the case may be, or any security.