Common use of Further Waivers Clause in Contracts

Further Waivers. Guarantor waives any right pursuant to any law, rule, arrangement or relationship now or hereafter existing, to require or compel Lessor to (a) proceed against Lessee or any other guarantor; (b) proceed against or exhaust any security for the Obligations; (c) pursue any other remedy in Lessor's power whatsoever; and failure of Lessor to do any of the foregoing shall not exonerate, release or discharge Guarantor from its absolute, unconditional and independent liability to Lessor hereunder, or (d) in the event that any property of Guarantor is or may be hypothecated with property of Lessee as security for any of the Obligations, have such property of Lessee first applied to the discharge of such Obligations.

Further Waivers. Guarantor waives any right pursuant to any law, rule, arrangement or relationship now or hereafter existing, to require or compel Lessor Lender to (a) proceed against Lessee Borrower or any other guarantor; (b) proceed against or exhaust any security for the Obligations; (c) pursue any other remedy in LessorLender's power whatsoever; and failure of Lessor Lender to do any of the foregoing shall not exonerate, release or discharge Guarantor from its absolute, unconditional and independent liability to Lessor Lender hereunder, or (d) in the event that any property of Guarantor is or may be hypothecated with property of Lessee Borrower as security for any of the Obligations, to have such property of Lessee Borrower first applied to the discharge of such Obligations.