Common use of EFFECT OF WAIVERS Clause in Contracts

EFFECT OF WAIVERS. Grantor has waived, and/or does by these presents waive, presentment for payment, protest, notice of protest and notice of nonpayment under all of the Indebtedness secured by this Agreement. Grantor has further waived, and/or does by these presents waive, all pleas of division and discussion, and all similar rights with regard to the Indebtedness, and agrees that Grantor shall remain liable, together with any and all Guarantors of the Indebtedness, on a "solidary" or "joint and several" basis. Grantor further agrees that discharge or release of any party who is, may, or will be liable to Lender under any of the Indebtedness, or the release of the Collateral or any other collateral directly or indirectly securing repayment of the same, shall not have the effect of releasing or otherwise diminishing or reducing the actual or potential liability of Grantor and/or any other party or parties guaranteeing payment of the Indebtedness, who shall remain liable to Lender, and/or remain liable to Lender, and/or of releasing any Collateral or other collateral that is not expressly released by Lender. Grantor additionally agrees that Lxxxxx's acceptance of payments other than in accordance with the terms of any agreement, or agreements governing repayment of the Indebtedness, or Lxxxxx's subsequent agreement to extend or modify such repayment terms, shall likewise not have the effect of releasing Grantor, and/or any other party or parties guaranteeing payment of the Indebtedness, from their respective obligations to Lender, and/or of releasing any of the Collateral or other collateral directly or indirectly securing repayment of the Indebtedness. In addition, no course of dealing between Grantor and Lender, nor any failure or delay on the part of Lender to exercise any of the rights and remedies granted to Lender under this Agreement, or under any other agreement or agreements by and between Grantor and Lender, shall have the effect of waiving any of Lender's rights and remedies. Any partial exercise of any rights and remedies granted to Lender shall furthermore not constitute a waiver of any of Lxxxxx's other rights and remedies, it being Grantor's intent and agreement that Lxxxxx's rights and remedies shall be cumulative in nature. Gxxxxxx further agrees that, upon the occurrence of any Event of Default under this Agreement, any waiver or forbearance on the part of Lender to pursue the rights and remedies available to Lender, shall be binding upon Lender only to the extent that Lxxxxx specifically agrees to any such waiver or forbearance in writing. A waiver or forbearance as to one Event of Default shall not constitute a waiver or forbearance as to any other Event of Default. None of the warranties, conditions, provisions and terms contained in this Agreement or any other agreement, document, or instrument now or hereafter executed by Grantor and delivered to Lender, shall be deemed to have been waived by any act or knowledge of Lender, Lxxxxx's agents, officers or employees; but only by an instrument in writing specifying such waiver, signed by a duly authorized officer of Lender and delivered to Grantor.

Appears in 3 contracts

Samples: Pledge Agreement (Premier Financial Bancorp Inc), Pledge Agreement (Premier Financial Bancorp Inc), Pledge Agreement (Premier Financial Bancorp Inc)

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EFFECT OF WAIVERS. Grantor has Guarantor hereby recognizes, acknowledges and agrees, as to each provision of this Agreement that sets forth any waiver, relinquishment and/or release by Guarantor of any claim, defense or other right of Guarantor, or that sets forth any other waiver, relinquishment and/or release by Guarantor: that, as a result of such provision, at the date of this Agreement or thereafter, Guarantor may have waived, relinquished or released one or more claims, defenses or other rights of partial or complete exoneration of Guarantor's liability under this Agreement which could arise as a result of events that might materially prejudice Guarantor and/or does by these presents waiverights of reimbursement or other recovery Guarantor might otherwise enjoy; that, presentment but for paymentsuch waiver, protestrelinquishment and/or release, notice of protest and notice of nonpayment Guarantor might have a partial or complete defense to liability under all of the Indebtedness secured by this Agreement. Grantor has further waived; and that, as a result of such waiver, relinquishment and/or does by these presents waiverelease, all pleas of division and discussionGuarantor might incur liability under this Agreement that Guarantor might not otherwise have incurred, and all similar might lose rights with regard against other Persons and/or property that Guarantor might otherwise have enjoyed. Guarantor hereby further recognizes, acknowledges and agrees: that Guarantor has been advised by legal counsel as to the Indebtedness, significance and agrees that Grantor shall remain liable, together with any and all Guarantors of the Indebtedness, on a "solidary" or "joint and several" basis. Grantor further agrees that discharge or release of any party who is, may, or will be liable to Lender under any of the Indebtedness, or the release of the Collateral or any other collateral directly or indirectly securing repayment of the same, shall not have the legal effect of releasing or otherwise diminishing or reducing the actual or potential liability each provision of Grantor and/or any other party or parties guaranteeing payment of the Indebtednessthis Agreement (including specifically, who shall remain liable to Lenderbut without limitation, and/or remain liable to Lendereach waiver, and/or of releasing any Collateral or other collateral that is not expressly released by Lender. Grantor additionally agrees that Lxxxxx's acceptance of payments other than in accordance with the terms of any agreement, or agreements governing repayment of the Indebtedness, or Lxxxxx's subsequent agreement to extend or modify such repayment terms, shall likewise not have the effect of releasing Grantor, and/or any other party or parties guaranteeing payment of the Indebtedness, from their respective obligations to Lender, and/or of releasing any of the Collateral or other collateral directly or indirectly securing repayment of the Indebtedness. In addition, no course of dealing between Grantor relinquishment and Lender, nor any failure or delay release on the part of Lender to exercise any Guarantor provided for herein and of the rights Guarantor would have had but for such waivers, relinquishments and remedies granted to Lender under releases), and that Guarantor has fully analyzed, with full advice and assistance of such counsel, every provision of this AgreementAgreement (including specifically, or under any other agreement or agreements by but without limitation, every waiver, release and between Grantor and Lender, shall have the effect of waiving any of Lender's rights and remedies. Any partial exercise of any rights and remedies granted to Lender shall furthermore not constitute a waiver of any of Lxxxxx's other rights and remedies, it being Grantor's intent and agreement that Lxxxxx's rights and remedies shall be cumulative in nature. Gxxxxxx further agrees that, upon the occurrence of any Event of Default under this Agreement, any waiver or forbearance relinquishment on the part of Lender Guarantor provided for herein) for the purpose of assessing the impact thereof upon Guarantor and upon Guarantor's obligations and liabilities under this Agreement; that Guarantor has made whatever investigations and inquiries it and/or its counsel have deemed necessary or advisable in connection with the subject matter of this Agreement and in connection with the Subject Agreements, and that, following such investigations and inquiries, Guarantor is willing to pursue enter into this Agreement (and make the rights guarantees and remedies available indemnities provided herein) and incur all the liabilities and risks attendant to LenderGuarantor's obligations under this Agreement. Guarantor recognizes, shall be binding acknowledges and agrees that Dyne is relying upon Lender only to the extent that Lxxxxx specifically agrees to any such waiver or forbearance in writing. A waiver or forbearance as to one Event making by Guarantor of Default shall not constitute a waiver or forbearance as to any other Event each of Default. None its covenants, agreements, representations and warranties hereunder (including specifically, but without limitation, each of the warrantieswaivers, conditionsrelinquishments and releases on the part of Guarantor provided for herein) in connection with the making of the Loan by Dyne, and is relying upon the full enforceability of each of the provisions and terms contained in of this Agreement or any other agreement(including specifically, documentbut without limitation, or instrument now or hereafter executed by Grantor and delivered to Lender, shall be deemed to have been waived by any act or knowledge of Lender, Lxxxxx's agents, officers or employees; but only by an instrument in writing specifying each such waiver, signed by a duly authorized officer of Lender relinquishment and delivered release) and that if Guarantor were not making such waivers, relinquishments and releases, Dyne would not be willing to Grantormake the Loan.

Appears in 3 contracts

Samples: Guaranty (Tag It Pacific Inc), Guaranty (Tag It Pacific Inc), Guaranty (Tag It Pacific Inc)

EFFECT OF WAIVERS. Grantor has Guarantor hereby recognizes, acknowledges and agrees, as to each provision of this Guaranty that sets forth any waiver, relinquishment and/or release by Guarantor of any claim, defense or other right of Guarantor, or that sets forth any other waiver, relinquishment and/or release by Guarantor: that, as a result of such provision, at the date of this Guaranty or thereafter, Guarantor may have waived, relinquished or released one or more claims, defenses or other rights of partial or complete exoneration of Guarantor's liability under this Guaranty which could arise as a result of events that might materially prejudice Guarantor and/or does by these presents waiverights of reimbursement or other recovery Guarantor might otherwise enjoy; that, presentment but for paymentsuch waiver, protestrelinquishment and/or release, notice Guarantor might have a partial or complete defense to liability under this Guaranty; and that, as a result of protest and notice of nonpayment such waiver, relinquishment and/or release, Guarantor might incur liability under all of the Indebtedness secured by this Agreement. Grantor has further waived, and/or does by these presents waive, all pleas of division and discussionGuaranty that Guarantor might not otherwise have incurred, and all similar might lose rights with regard against other Persons and/or property that Guarantor might otherwise have enjoyed. Guarantor hereby further recognizes, acknowledges and agrees: that Guarantor has been advised by legal counsel as to the Indebtedness, significance and agrees that Grantor shall remain liable, together with any and all Guarantors of the Indebtedness, on a "solidary" or "joint and several" basis. Grantor further agrees that discharge or release of any party who is, may, or will be liable to Lender under any of the Indebtedness, or the release of the Collateral or any other collateral directly or indirectly securing repayment of the same, shall not have the legal effect of releasing or otherwise diminishing or reducing the actual or potential liability each provision of Grantor and/or any other party or parties guaranteeing payment of the Indebtednessthis Guaranty (including specifically, who shall remain liable to Lenderbut without limitation, and/or remain liable to Lendereach waiver, and/or of releasing any Collateral or other collateral that is not expressly released by Lender. Grantor additionally agrees that Lxxxxx's acceptance of payments other than in accordance with the terms of any agreement, or agreements governing repayment of the Indebtedness, or Lxxxxx's subsequent agreement to extend or modify such repayment terms, shall likewise not have the effect of releasing Grantor, and/or any other party or parties guaranteeing payment of the Indebtedness, from their respective obligations to Lender, and/or of releasing any of the Collateral or other collateral directly or indirectly securing repayment of the Indebtedness. In addition, no course of dealing between Grantor relinquishment and Lender, nor any failure or delay release on the part of Lender to exercise any Guarantor provided for herein and of the rights Guarantor would have had but for such waivers, relinquishments and remedies granted to Lender under releases), and that Guarantor has fully analyzed, with full advice and assistance of such counsel, every provision of this AgreementGuaranty (including specifically, or under any other agreement or agreements by but without limitation, every waiver, release and between Grantor and Lender, shall have the effect of waiving any of Lender's rights and remedies. Any partial exercise of any rights and remedies granted to Lender shall furthermore not constitute a waiver of any of Lxxxxx's other rights and remedies, it being Grantor's intent and agreement that Lxxxxx's rights and remedies shall be cumulative in nature. Gxxxxxx further agrees that, upon the occurrence of any Event of Default under this Agreement, any waiver or forbearance relinquishment on the part of Lender Guarantor provided for herein) for the purpose of assessing the impact thereof upon Guarantor and upon Guarantor's obligations and liabilities under this Guaranty; that Guarantor has made whatever investigations and inquiries it and/or its counsel have deemed necessary or advisable in connection with the subject matter of this, and that, following such investigations and inquiries, Guarantor is willing to pursue enter into this Guaranty (and make the rights guarantees provided herein) and remedies available incur all the liabilities and risks attendant to LenderGuarantor's obligations under this Guaranty. Guarantor recognizes, shall be binding acknowledges and agrees that the Collateral Agent and the Secured Creditors are relying upon Lender only to the extent that Lxxxxx specifically agrees to any such waiver or forbearance in writing. A waiver or forbearance as to one Event making by Guarantor of Default shall not constitute a waiver or forbearance as to any other Event each of Default. None its covenants, agreements, representations and warranties hereunder (including specifically, but without limitation, each of the warrantieswaivers, conditionsrelinquishments and releases on the part of Guarantor provided for herein) in connection with the execution and delivery of the Restructuring Agreement by the Secured Creditors, and is relying upon the full enforceability of each of the provisions and terms contained in of this Agreement or any other agreementGuaranty (including specifically, documentbut without limitation, or instrument now or hereafter executed by Grantor and delivered to Lender, shall be deemed to have been waived by any act or knowledge of Lender, Lxxxxx's agents, officers or employees; but only by an instrument in writing specifying each such waiver, signed by a duly authorized officer of Lender relinquishment and delivered release) and that if Guarantor were not making such waivers, relinquishments and releases, the Secured Creditors would not be willing to Grantorenter into the Restructuring Agreement.

Appears in 2 contracts

Samples: National Golf Properties Inc, National Golf Properties Inc

EFFECT OF WAIVERS. Grantor has waived, and/or does by these presents waive, presentment for payment, protest, notice of protest and notice of nonpayment under all of the Indebtedness secured by this Agreement. Grantor has further waived, and/or does by these presents waive, all pleas of division and discussion, and all similar rights with regard to the Indebtedness, and agrees that Grantor shall remain liable, together with any and all Guarantors of the Indebtedness, on a "solidary" or "joint and several" basis. Grantor further agrees that discharge or release of any party who is, may, or will be liable to Lender under any of the Indebtedness, or the release of the Collateral or any other collateral Collateral directly or indirectly securing repayment of the same, shall not have the effect of releasing or otherwise diminishing or reducing the actual or potential liability of Grantor and/or any other party or parties guaranteeing payment of the Indebtedness, who shall remain liable to Lender, and/or remain liable to Lender, and/or of releasing any Collateral or other collateral Collateral that is not expressly released by Lender. Grantor additionally agrees that LxxxxxLender's acceptance of payments other than in accordance with the terms of any agreement, agreement or agreements governing repayment of the Indebtedness, or LxxxxxLender's subsequent agreement to extend or modify such repayment terms, shall likewise not have the effect of releasing Grantor, and/or any other party or parties guaranteeing payment of the Indebtedness, from their respective obligations to Lender, and/or of releasing any of the Collateral or other collateral Collateral directly or indirectly securing repayment of the Indebtedness. In addition, no course of dealing between Grantor and Lender, nor any failure or delay on the part of Lender to exercise any of the rights and remedies granted to Lender under this Agreement, or under any other agreement or agreements by and between Grantor and Lender, shall have the effect of waiving any of Lender's rights and remedies. Any partial exercise of any rights and remedies granted to Lender shall furthermore not constitute a waiver of any of LxxxxxLender's other rights and remedies, it being Grantor's intent and agreement that LxxxxxLender's rights and remedies shall be cumulative in nature. Gxxxxxx Grantor further agrees that, upon the occurrence of any Event of Default under this Agreement, any waiver or forbearance on the part of Lender to pursue the rights and remedies available to Lender, shall be binding upon Lender only to the extent that Lxxxxx specifically agrees to any such waiver or forbearance in writing. A waiver or forbearance as to one Event of Default shall not constitute a waiver or forbearance as to any other Event of Default. None of the warranties, conditions, provisions and terms contained in this Agreement or any other agreement, document, or instrument now or hereafter executed by Grantor and delivered to Lender, shall be deemed to have been waived by any act or knowledge of Lender, Lxxxxx's agents, officers or employees; but only by an instrument in writing specifying such waiver, signed by a duly authorized officer of Lender and delivered to Grantor.forbearance

Appears in 1 contract

Samples: Security Agreement (Fair Grounds Corp)

EFFECT OF WAIVERS. Grantor has Guarantor hereby recognizes, acknowledges and agrees, as to each provision of this Guaranty that sets forth any waiver, relinquishment and/or release by Guarantor of any claim, defense or other right of Guarantor, or that sets forth any other waiver, relinquishment and/or release by Guarantor: that, as a result of such provision, at the date of this Guaranty or thereafter, Guarantor may have waived, relinquished or released one or more claims, defenses or other rights of partial or complete exoneration of Guarantor's liability under this Guaranty which could arise as a result of events that might materially prejudice Guarantor and/or does by these presents waiverights of reimbursement or other recovery Guarantor might otherwise enjoy; that, presentment but for paymentsuch waiver, protestrelinquishment and/or release, notice Guarantor might have a partial or complete defense to liability under this Guaranty; and that, as a result of protest and notice of nonpayment such waiver, relinquishment and/or release, Guarantor might incur liability under all of the Indebtedness secured by this Agreement. Grantor has further waived, and/or does by these presents waive, all pleas of division and discussionGuaranty that Guarantor might not otherwise have incurred, and all similar might lose rights with regard against other Persons and/or property that Guarantor might otherwise have enjoyed. Guarantor hereby further recognizes, acknowledges and agrees: that Guarantor has been advised by legal counsel as to the Indebtedness, significance and agrees that Grantor shall remain liable, together with any and all Guarantors of the Indebtedness, on a "solidary" or "joint and several" basis. Grantor further agrees that discharge or release of any party who is, may, or will be liable to Lender under any of the Indebtedness, or the release of the Collateral or any other collateral directly or indirectly securing repayment of the same, shall not have the legal effect of releasing or otherwise diminishing or reducing the actual or potential liability each provision of Grantor and/or any other party or parties guaranteeing payment of the Indebtednessthis Guaranty (including specifically, who shall remain liable to Lenderbut without limitation, and/or remain liable to Lendereach waiver, and/or of releasing any Collateral or other collateral that is not expressly released by Lender. Grantor additionally agrees that Lxxxxx's acceptance of payments other than in accordance with the terms of any agreement, or agreements governing repayment of the Indebtedness, or Lxxxxx's subsequent agreement to extend or modify such repayment terms, shall likewise not have the effect of releasing Grantor, and/or any other party or parties guaranteeing payment of the Indebtedness, from their respective obligations to Lender, and/or of releasing any of the Collateral or other collateral directly or indirectly securing repayment of the Indebtedness. In addition, no course of dealing between Grantor relinquishment and Lender, nor any failure or delay release on the part of Lender to exercise any Guarantor provided for herein and of the rights Guarantor would have had but for such waivers, relinquishments and remedies granted to Lender under releases), and that Guarantor has fully analyzed, with full advice and assistance of such counsel, every provision of this AgreementGuaranty (including specifically, or under any other agreement or agreements by but without limitation, every waiver, release and between Grantor and Lender, shall have the effect of waiving any of Lender's rights and remedies. Any partial exercise of any rights and remedies granted to Lender shall furthermore not constitute a waiver of any of Lxxxxx's other rights and remedies, it being Grantor's intent and agreement that Lxxxxx's rights and remedies shall be cumulative in nature. Gxxxxxx further agrees that, upon the occurrence of any Event of Default under this Agreement, any waiver or forbearance relinquishment on the part of Lender Guarantor provided for herein) for the purpose of assessing the impact thereof upon Guarantor and upon Guarantor's obligations and liabilities under this Guaranty; that Guarantor has made whatever investigations and inquiries she and/or her counsel have deemed necessary or advisable in connection with the subject matter of this, and that, following such investigations and inquiries, Guarantor is willing to pursue enter into this Guaranty (and make the rights guarantees provided herein) and remedies available incur all the liabilities and risks attendant to LenderGuarantor's obligations under this Guaranty. Guarantor recognizes, shall be binding acknowledges and agrees that the Collateral Agent and the Secured Creditors are relying upon Lender only to the extent that Lxxxxx specifically agrees to any such waiver or forbearance in writing. A waiver or forbearance as to one Event making by Guarantor of Default shall not constitute a waiver or forbearance as to any other Event each of Default. None its covenants, agreements, representations and warranties hereunder (including specifically, but without limitation, each of the warrantieswaivers, conditionsrelinquishments and releases on the part of Guarantor provided for herein) in connection with the execution and delivery of the Extension Agreement by the Secured Creditors, and is relying upon the full enforceability of each of the provisions and terms contained in of this Agreement or any other agreementGuaranty (including specifically, documentbut without limitation, or instrument now or hereafter executed by Grantor and delivered to Lender, shall be deemed to have been waived by any act or knowledge of Lender, Lxxxxx's agents, officers or employees; but only by an instrument in writing specifying each such waiver, signed by a duly authorized officer of Lender relinquishment and delivered release) and that if Guarantor were not making such waivers, relinquishments and releases, the Secured Creditors would not be willing to Grantorenter into the Extension Agreement.

Appears in 1 contract

Samples: National Golf Properties Inc

EFFECT OF WAIVERS. Grantor has Guarantor hereby recognizes, acknowledges and agrees, as to each provision of this Guaranty that sets forth any waiver, relinquishment and/or release by Guarantor of any claim, defense or other right of Guarantor, or that sets forth any other waiver, relinquishment and/or release by Guarantor: that, as a result of such provision, at the date of this Guaranty or thereafter, Guarantor may have waived, relinquished or released one or more claims, defenses or other rights of partial or complete exoneration of Guarantor's liability under this Guaranty which could arise as a result of events that might materially prejudice Guarantor and/or does by these presents waiverights of reimbursement or other recovery Guarantor might otherwise enjoy; that, presentment but for paymentsuch waiver, protestrelinquishment and/or release, notice Guarantor might have a partial or complete defense to liability under this Guaranty; and that, as a result of protest and notice of nonpayment such waiver, relinquishment and/or release, Guarantor might incur liability under all of the Indebtedness secured by this Agreement. Grantor has further waived, and/or does by these presents waive, all pleas of division and discussionGuaranty that Guarantor might not otherwise have incurred, and all similar might lose rights with regard against other Persons and/or property that Guarantor might otherwise have enjoyed. Guarantor hereby further recognizes, acknowledges and agrees: that Guarantor has been advised by legal counsel as to the Indebtedness, significance and agrees that Grantor shall remain liable, together with any and all Guarantors of the Indebtedness, on a "solidary" or "joint and several" basis. Grantor further agrees that discharge or release of any party who is, may, or will be liable to Lender under any of the Indebtedness, or the release of the Collateral or any other collateral directly or indirectly securing repayment of the same, shall not have the legal effect of releasing or otherwise diminishing or reducing the actual or potential liability each provision of Grantor and/or any other party or parties guaranteeing payment of the Indebtednessthis Guaranty (including specifically, who shall remain liable to Lenderbut without limitation, and/or remain liable to Lendereach waiver, and/or of releasing any Collateral or other collateral that is not expressly released by Lender. Grantor additionally agrees that Lxxxxx's acceptance of payments other than in accordance with the terms of any agreement, or agreements governing repayment of the Indebtedness, or Lxxxxx's subsequent agreement to extend or modify such repayment terms, shall likewise not have the effect of releasing Grantor, and/or any other party or parties guaranteeing payment of the Indebtedness, from their respective obligations to Lender, and/or of releasing any of the Collateral or other collateral directly or indirectly securing repayment of the Indebtedness. In addition, no course of dealing between Grantor relinquishment and Lender, nor any failure or delay release on the part of Lender to exercise any Guarantor provided for herein and of the rights Guarantor would have had but for such waivers, relinquishments and remedies granted to Lender under releases), and that Guarantor has fully analyzed, with full advice and assistance of such counsel, every provision of this AgreementGuaranty (including specifically, or under any other agreement or agreements by but without limitation, every waiver, release and between Grantor and Lender, shall have the effect of waiving any of Lender's rights and remedies. Any partial exercise of any rights and remedies granted to Lender shall furthermore not constitute a waiver of any of Lxxxxx's other rights and remedies, it being Grantor's intent and agreement that Lxxxxx's rights and remedies shall be cumulative in nature. Gxxxxxx further agrees that, upon the occurrence of any Event of Default under this Agreement, any waiver or forbearance relinquishment on the part of Lender Guarantor provided for herein) for the purpose of assessing the impact thereof upon Guarantor and upon Guarantor's obligations and liabilities under this Guaranty; that Guarantor has made whatever investigations and inquiries it and/or its counsel have deemed necessary or advisable in connection with the subject matter of this, and that, following such investigations and inquiries, Guarantor is willing to pursue enter into this Guaranty (and make the rights guarantees provided herein) and remedies available incur all the liabilities and risks attendant to LenderGuarantor's obligations under this Guaranty. Guarantor recognizes, shall be binding acknowledges and agrees that the Collateral Agent and the Secured Parties are relying upon Lender only to the extent that Lxxxxx specifically agrees to any such waiver or forbearance in writing. A waiver or forbearance as to one Event making by Guarantor of Default shall not constitute a waiver or forbearance as to any other Event each of Default. None its covenants, agreements, representations and warranties hereunder (including specifically, but without limitation, each of the warrantieswaivers, conditionsrelinquishments and releases on the part of Guarantor provided for herein) in connection with the execution and delivery of the Restructuring Agreement by the Secured Parties, and is relying upon the full enforceability of each of the provisions and terms contained in of this Agreement or any other agreementGuaranty (including specifically, documentbut without limitation, or instrument now or hereafter executed by Grantor and delivered to Lender, shall be deemed to have been waived by any act or knowledge of Lender, Lxxxxx's agents, officers or employees; but only by an instrument in writing specifying each such waiver, signed by a duly authorized officer of Lender relinquishment and delivered release) and that if Guarantor were not making such waivers, relinquishments and releases, the Secured Parties would not be willing to Grantorenter into the Restructuring Agreement.

Appears in 1 contract

Samples: National Golf Properties Inc

EFFECT OF WAIVERS. Grantor has Guarantor hereby recognizes, acknowledges and agrees, as to each provision of this Guaranty that sets forth any waiver, relinquishment and/or release by Guarantor of any claim, defense or other right of Guarantor, or that sets forth any other waiver, relinquishment and/or release by Guarantor: that, as a result of such provision, at the date of this Guaranty or thereafter, Guarantor may have waived, relinquished or released one or more claims, defenses or other rights of partial or complete exoneration of Guarantor's liability under this Guaranty which could arise as a result of events that might materially prejudice Guarantor and/or does by these presents waiverights of reimbursement or other recovery Guarantor might otherwise enjoy; that, presentment but for paymentsuch waiver, protestrelinquishment and/or release, notice Guarantor might have a partial or complete defense to liability under this Guaranty; and that, as a result of protest and notice of nonpayment such waiver, relinquishment and/or release, Guarantor might incur liability under all of the Indebtedness secured by this Agreement. Grantor has further waived, and/or does by these presents waive, all pleas of division and discussionGuaranty that Guarantor might not otherwise have incurred, and all similar might lose rights with regard against other Persons and/or property that Guarantor might otherwise have enjoyed. Guarantor hereby further recognizes, acknowledges and agrees: that Guarantor has been advised by legal counsel as to the Indebtedness, significance and agrees that Grantor shall remain liable, together with any and all Guarantors of the Indebtedness, on a "solidary" or "joint and several" basis. Grantor further agrees that discharge or release of any party who is, may, or will be liable to Lender under any of the Indebtedness, or the release of the Collateral or any other collateral directly or indirectly securing repayment of the same, shall not have the legal effect of releasing or otherwise diminishing or reducing the actual or potential liability each provision of Grantor and/or any other party or parties guaranteeing payment of the Indebtednessthis Guaranty (including specifically, who shall remain liable to Lenderbut without limitation, and/or remain liable to Lendereach waiver, and/or of releasing any Collateral or other collateral that is not expressly released by Lender. Grantor additionally agrees that Lxxxxx's acceptance of payments other than in accordance with the terms of any agreement, or agreements governing repayment of the Indebtedness, or Lxxxxx's subsequent agreement to extend or modify such repayment terms, shall likewise not have the effect of releasing Grantor, and/or any other party or parties guaranteeing payment of the Indebtedness, from their respective obligations to Lender, and/or of releasing any of the Collateral or other collateral directly or indirectly securing repayment of the Indebtedness. In addition, no course of dealing between Grantor relinquishment and Lender, nor any failure or delay release on the part of Lender to exercise any Guarantor provided for herein and of the rights Guarantor would have had but for such waivers, relinquishments and remedies granted to Lender under releases), and that Guarantor has fully analyzed, with full advice and assistance of such counsel, every provision of this AgreementGuaranty (including specifically, or under any other agreement or agreements by but without limitation, every waiver, release and between Grantor and Lender, shall have the effect of waiving any of Lender's rights and remedies. Any partial exercise of any rights and remedies granted to Lender shall furthermore not constitute a waiver of any of Lxxxxx's other rights and remedies, it being Grantor's intent and agreement that Lxxxxx's rights and remedies shall be cumulative in nature. Gxxxxxx further agrees that, upon the occurrence of any Event of Default under this Agreement, any waiver or forbearance relinquishment on the part of Lender Guarantor provided for herein) for the purpose of assessing the impact thereof upon Guarantor and upon Guarantor's obligations and liabilities under this Guaranty; that Guarantor has made whatever investigations and inquiries he and/or his counsel have deemed necessary or advisable in connection with the subject matter of this, and that, following such investigations and inquiries, Guarantor is willing to pursue enter into this Guaranty (and make the rights guarantees provided herein) and remedies available incur all the liabilities and risks attendant to LenderGuarantor's obligations under this Guaranty. Guarantor recognizes, shall be binding acknowledges and agrees that the Collateral Agent and the Secured Parties are relying upon Lender only to the extent that Lxxxxx specifically agrees to any such waiver or forbearance in writing. A waiver or forbearance as to one Event making by Guarantor of Default shall not constitute a waiver or forbearance as to any other Event each of Default. None its covenants, agreements, representations and warranties hereunder (including specifically, but without limitation, each of the warrantieswaivers, conditionsrelinquishments and releases on the part of Guarantor provided for herein) in connection with the execution and delivery of the Restructuring Agreement by the Secured Parties, and is relying upon the full enforceability of each of the provisions and terms contained in of this Agreement or any other agreementGuaranty (including specifically, documentbut without limitation, or instrument now or hereafter executed by Grantor and delivered to Lender, shall be deemed to have been waived by any act or knowledge of Lender, Lxxxxx's agents, officers or employees; but only by an instrument in writing specifying each such waiver, signed by a duly authorized officer of Lender relinquishment and delivered release) and that if Guarantor were not making such waivers, relinquishments and releases, the Secured Parties would not be willing to Grantorenter into the Restructuring Agreement.

Appears in 1 contract

Samples: National Golf Properties Inc

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EFFECT OF WAIVERS. Grantor has waived, and/or does by these presents waive, presentment for tor payment, protest, notice of protest and notice of nonpayment under all of the Indebtedness secured by this Agreement. Grantor has further waived, and/or does by these presents waive, all pleas of division and discussion, and all similar rights with regard to the Indebtedness, and agrees that Grantor shall remain liable, together with any and all Guarantors of the Indebtedness, on a "solidary" or "joint and several" basis. Grantor further agrees that discharge or release of any party who is, may, or will w ill be liable to Lender under any of the Indebtedness, or the release of the Collateral or any other collateral directly or indirectly securing repayment of the same, shall not have the effect of releasing or otherwise diminishing or reducing the actual or potential liability of Grantor and/or any other party or parties guaranteeing payment of the Indebtedness, who shall remain liable to Lender, and/or remain liable to Lender, and/or of releasing any Collateral or other collateral that is not expressly released by Lender. Grantor additionally agrees that Lxxxxx's acceptance of payments other than in accordance with the terms of any agreement, or agreements governing repayment of the Indebtedness, or Lxxxxx's subsequent agreement to extend or modify such repayment terms, shall likewise not have the effect of releasing Grantor, and/or any other party or parties guaranteeing payment of the Indebtedness, from their respective obligations to Lender, and/or of releasing any of the Collateral or other collateral directly or indirectly securing repayment of the Indebtedness. In addition, no course of dealing between Grantor and Lender, nor any failure or delay on the part of Lender to exercise any of the rights and remedies granted to Lender under this Agreement, or under any other agreement or agreements by and between Grantor and Lender, shall have the effect of waiving any of LenderLender 's rights and remedies. Any partial exercise of any rights and remedies granted to Lender shall furthermore not constitute a waiver of any of Lxxxxx's other rights and remedies, it being Grantor's intent and agreement that Lxxxxx's rights and remedies shall be cumulative in nature. Gxxxxxx further agrees that, upon the occurrence of any Event of Default under this Agreement, any waiver or forbearance on the part of Lender to pursue the rights and remedies available to Lender, shall be binding upon Lender only to the extent that Lxxxxx specifically agrees to any such waiver or forbearance in writing. A waiver or forbearance as to one Event of Default shall not constitute a waiver or forbearance as to any other Event of Default. None of the warranties, conditions, provisions and terms contained in this Agreement or any other agreement, document, or instrument now or hereafter executed by Grantor and delivered to Lender, shall be deemed to have been waived by any act or knowledge of Lender, Lxxxxx's agents, officers or employees; but only by an instrument in writing specifying such waiver, signed by a duly authorized officer of Lender and delivered to Grantor.

Appears in 1 contract

Samples: Commercial Pledge Agreement (Premier Financial Bancorp Inc)

EFFECT OF WAIVERS. Grantor has waived, and/or does by these presents waive, presentment for payment, protest, notice of protest and notice of nonpayment under all of the Indebtedness secured by this Agreement. Grantor has further waived, and/or does by these presents waive, all pleas of division and discussion, and all similar rights with regard to the Indebtedness, and agrees that Grantor shall remain liable, together with any and all Guarantors of the Indebtedness, on a "solidary" or "joint Joint and several" basis. Grantor further agrees that discharge or release of any party who is, may, or will be liable to Lender under any of the Indebtedness, or the release of the Collateral or any other collateral directly or indirectly Indirectly securing repayment of the same, shall not have the effect of releasing or otherwise diminishing or reducing the actual or potential liability of Grantor and/or any other party or parties guaranteeing payment of the Indebtedness, who shall remain liable to Lender, and/or remain liable to Lender, and/or of releasing any Collateral or other collateral that is Is not expressly released by Lender. Grantor additionally agrees that Lxxxxx's Lenders acceptance of payments other than in In accordance with the terms of any agreement, or agreements governing repayment of the Indebtedness, or LxxxxxLender's subsequent agreement to extend or modify such repayment terms, shall likewise not have the effect of releasing Grantor, and/or any other party or parties guaranteeing payment of the Indebtedness, from their respective obligations to Lender, and/or of releasing any of the Collateral or other collateral directly or indirectly securing repayment of the Indebtedness. In addition, no course of dealing between Grantor and Lender, nor any failure or delay on the part of Lender to exercise any of the rights and remedies granted to Lender under this Agreement, or under any other agreement or agreements by and between Grantor and Lender, shall have the effect of waiving any of Lender's rights and remedies. Any partial exercise of any rights and remedies granted to Lender shall furthermore not constitute a waiver of any of LxxxxxLender's other rights and remedies, it It being Grantor's intent Intent and agreement that LxxxxxLender's rights and remedies shall be cumulative in In nature. Gxxxxxx Grantor further agrees that, upon the occurrence of any Event of Default under this Agreement, any waiver or forbearance on the part of Lender to pursue the rights and remedies available to Lender, shall be binding upon Lender only to the extent that Lxxxxx Lender specifically agrees to any such waiver or forbearance in In writing. A waiver or forbearance as to one Event of Default shall not constitute a waiver or forbearance as to any other Event of Default. None of the warranties, conditions, provisions and terms contained in In this Agreement or any other agreement, document, or instrument Instrument now or hereafter executed by Grantor and delivered to Lender, shall be deemed to have been waived by any act or knowledge of Lender, LxxxxxLender's agents, officers or employees; but only by an instrument Instrument in writing specifying such waiver, signed by a duly authorized officer of Lender and delivered to Grantor.

Appears in 1 contract

Samples: American Fire Retardant Corp

EFFECT OF WAIVERS. Grantor has Guarantor hereby recognizes, acknowledges and agrees, as to each provision of this Guaranty that sets forth any waiver, relinquishment and/or release by Guarantor of any claim, defense or other right of Guarantor, or that sets forth any other waiver, relinquishment and/or release by Guarantor: that, as a result of such provision, at the date of this Guaranty or thereafter, Guarantor may have waived, relinquished or released one or more claims, defenses or other rights of partial or complete exoneration of Guarantor's liability under this Guaranty which could arise as a result of events that might materially prejudice Guarantor and/or does by these presents waiverights of reimbursement or other recovery Guarantor might otherwise enjoy; that, presentment but for paymentsuch waiver, protestrelinquishment and/or release, notice Guarantor might have a partial or complete defense to liability under this Guaranty; and that, as a result of protest and notice of nonpayment such waiver, relinquishment and/or release, Guarantor might incur liability under all of the Indebtedness secured by this Agreement. Grantor has further waived, and/or does by these presents waive, all pleas of division and discussionGuaranty that Guarantor might not otherwise have incurred, and all similar might lose rights with regard against other Persons and/or property that Guarantor might otherwise have enjoyed. Guarantor hereby further recognizes, acknowledges and agrees: that Guarantor has been advised by legal counsel as to the Indebtedness, significance and agrees that Grantor shall remain liable, together with any and all Guarantors of the Indebtedness, on a "solidary" or "joint and several" basis. Grantor further agrees that discharge or release of any party who is, may, or will be liable to Lender under any of the Indebtedness, or the release of the Collateral or any other collateral directly or indirectly securing repayment of the same, shall not have the legal effect of releasing or otherwise diminishing or reducing the actual or potential liability each provision of Grantor and/or any other party or parties guaranteeing payment of the Indebtednessthis Guaranty (including specifically, who shall remain liable to Lenderbut without limitation, and/or remain liable to Lendereach waiver, and/or of releasing any Collateral or other collateral that is not expressly released by Lender. Grantor additionally agrees that Lxxxxx's acceptance of payments other than in accordance with the terms of any agreement, or agreements governing repayment of the Indebtedness, or Lxxxxx's subsequent agreement to extend or modify such repayment terms, shall likewise not have the effect of releasing Grantor, and/or any other party or parties guaranteeing payment of the Indebtedness, from their respective obligations to Lender, and/or of releasing any of the Collateral or other collateral directly or indirectly securing repayment of the Indebtedness. In addition, no course of dealing between Grantor relinquishment and Lender, nor any failure or delay release on the part of Lender to exercise any Guarantor provided for herein and of the rights Guarantor would have had but for such waivers, relinquishments and remedies granted to Lender under releases), and that Guarantor has fully analyzed, with full advice and assistance of such counsel, every provision of this AgreementGuaranty (including specifically, or under any other agreement or agreements by but without limitation, every waiver, release and between Grantor and Lender, shall have the effect of waiving any of Lender's rights and remedies. Any partial exercise of any rights and remedies granted to Lender shall furthermore not constitute a waiver of any of Lxxxxx's other rights and remedies, it being Grantor's intent and agreement that Lxxxxx's rights and remedies shall be cumulative in nature. Gxxxxxx further agrees that, upon the occurrence of any Event of Default under this Agreement, any waiver or forbearance relinquishment on the part of Lender Guarantor provided for herein) for the purpose of assessing the impact thereof upon Guarantor and upon Guarantor's obligations and liabilities under this Guaranty; that Guarantor has made whatever investigations and inquiries it and/or its counsel have deemed necessary or advisable in connection with the subject matter of this, and that, following such investigations and inquiries, Guarantor is willing to pursue enter into this Guaranty (and make the rights guarantees provided herein) and remedies available incur all the liabilities and risks attendant to LenderGuarantor's obligations under this Guaranty. Guarantor recognizes, shall be binding acknowledges and agrees that Beneficiary is relying upon Lender only the making by Guarantor of each of its covenants, agreements, representations and warranties hereunder (including specifically, but without limitation, each of the waivers, relinquishments and releases on the part of Guarantor provided for herein) in providing credit support to the extent that Lxxxxx specifically agrees to any such waiver or forbearance in writing. A waiver or forbearance as to one Event Borrowers and is relying upon the full enforceability of Default shall not constitute a waiver or forbearance as to any other Event of Default. None each of the warrantiesprovisions of this Guaranty (including specifically, conditionsbut without limitation, provisions and terms contained in this Agreement or any other agreement, document, or instrument now or hereafter executed by Grantor and delivered to Lender, shall be deemed to have been waived by any act or knowledge of Lender, Lxxxxx's agents, officers or employees; but only by an instrument in writing specifying each such waiver, signed by a duly authorized officer of Lender relinquishment and delivered release) and that if Guarantor were not making such waivers, relinquishments and releases, Beneficiary would not be willing to Grantorprovide such credit support to the Borrowers.

Appears in 1 contract

Samples: National Golf Properties Inc

EFFECT OF WAIVERS. Grantor has waived, and/or does by these presents waive, presentment for payment, protest, notice of protest protest, notice of nonpayment, notice of acceleration and notice of nonpayment intent to accelerate under all of the Indebtedness secured by this Agreement. Grantor has further waived, and/or does by these presents waive, all pleas of division and discussion, and all similar rights with regard to the Indebtedness, and agrees that Grantor shall remain liable, together with any and all Guarantors of the Indebtedness, on a "solidary" or "joint and several" basis. Grantor further agrees that discharge or release of any party who is, may, or will be liable to Lender under any of the Indebtedness, or the release of the Collateral or any other collateral directly or indirectly securing repayment of the same, shall not have the effect of releasing or otherwise diminishing or reducing the actual or potential liability of Grantor and/or any other party or parties guaranteeing payment of the Indebtedness, who shall remain liable to Lender, and/or remain liable to Lender, and/or of releasing any Collateral or other collateral that is not expressly released by Lender. Grantor additionally agrees that LxxxxxLender's acceptance of payments other than in accordance with the terms of any agreement, or agreements governing repayment of the Indebtedness, or LxxxxxLender's subsequent agreement to extend or modify such repayment terms, shall likewise not have the effect of releasing Grantor, and/or any other party or parties guaranteeing payment of the Indebtedness, from their respective obligations to Lender, and/or of releasing any of the Collateral or other collateral directly or indirectly securing repayment of the Indebtedness. In addition, no course of dealing between Grantor and Lender, nor any failure or delay on the part of Lender to exercise any of the rights and remedies granted to Lender under this Agreement, or under any other agreement or agreements by and between Grantor and Lender, shall have the effect of waiving any of Lender's rights and remedies. Any partial exercise of any rights and remedies granted to Lender shall furthermore not constitute a waiver of any of LxxxxxLender's other rights and remedies, it being Grantor's intent and agreement that LxxxxxLender's rights and remedies shall be cumulative in nature. Gxxxxxx Grantor further agrees that, upon the occurrence of any Event of Default under this Agreement, any waiver or forbearance on the part of Lender to pursue the rights and remedies available to Lender, shall be binding upon Lender only to the extent that Lxxxxx Lender specifically agrees to any such waiver or forbearance in writing. A waiver or forbearance as to one Event of Default shall not constitute a waiver or forbearance as to any other Event of Default. None of the warranties, conditions, provisions and terms contained in this Agreement or any other agreement, document, or instrument now or hereafter executed by Grantor and delivered to Lender, shall be deemed to have been waived by any act or knowledge of Lender, LxxxxxLender's agents, officers or employees; but only by an instrument in writing specifying such waiver, signed by a duly authorized officer of Lender and delivered to Grantor.. MISCELLANEOUS PROVISIONS. The following miscellaneous provisions are a part of this Agreement:

Appears in 1 contract

Samples: Commercial Security Agreement (Search Financial Services Inc)

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