Common use of Exhaustion of Other Remedies Not Required Clause in Contracts

Exhaustion of Other Remedies Not Required. The obligations of DeVry in respect of this guaranty are those of primary obligor, and not merely as surety, and are independent of the Guaranteed Obligations. DeVry waives diligence by the Lenders and action on delinquency in respect of the Guaranteed Obligations or any part thereof, including, without limitation any provisions of law requiring the Lenders to exhaust any right or remedy or to take any action against GEI, or any other person, entity or property before enforcing this guaranty against DeVry.

Exhaustion of Other Remedies Not Required. The obligations of DeVry in respect of this guaranty are those of primary obligor, and not merely as surety, and are independent of the Guaranteed Obligations. DeVry waives diligence by the Lenders and action on delinquency in respect of the Guaranteed Obligations or any part thereof, including, without limitation any provisions of law requiring the Lenders to exhaust any right or remedy or to take any action against GEIany Designated Borrower, or any other person, entity or property before enforcing this guaranty against DeVry.