Guarantor Waivers. If and to the extent that Trustor (for the purposes of this Section 13.24, "Guarantor") would be deemed or construed to be a guarantor or surety under Applicable Law with respect to its obligations hereunder, Guarantor hereby agrees as follows: 13.38.1. Guarantor expressly agrees that until each and every term, covenant and condition of this Deed of Trust is fully performed, Guarantor shall not be released by any act or event which, except for this provision of this Deed of Trust might be deemed a legal or equitable discharge or exoneration of a surety, or because of any waiver, extension, modification, forbearance or delay or other act or omission of Beneficiary or its failure to proceed promptly or otherwise as against any Issuer or any other Guarantor, as the case may be (individually and collectively, in its or their capacity as the entity or entities the obligations of which are guaranteed hereunder by Guarantor, the "Principal") or Guarantor, or because of any action taken or omitted or circumstance which might vary the risk or affect the rights or remedies of Guarantor as against the Principal, or because of any further dealings between the Principal and Beneficiary, whether relating to this Deed of Trust or otherwise. Guarantor hereby expressly waives and surrenders any defense to Guarantor's liability under this Deed of Trust based upon any of the foregoing acts, omissions, things, agreements, waivers or any of them. It is the purpose and intent of this Deed of Trust that the obligations of Guarantor under it shall be absolute and unconditional under any and all circumstances, subject to and in accordance with the terms and conditions of this Deed of Trust. 13.38.2. Without in any way limiting the provisions of Section 13.24.1, Guarantor waives: 13.38.2.1. all statutes of limitations as a defense to any action or proceeding brought against Guarantor by Beneficiary, to the fullest extent permitted by Applicable Laws; 13.38.2.2. any right it may have to require Beneficiary to proceed against the Principal or pursue any other remedy in Beneficiary's power to pursue, it being acknowledged and agreed that the obligations of Guarantor hereunder are independent of the obligations of the Principal hereunder, and Beneficiary shall not be required to make any demand upon, exercise any right to declare a default by, or proceed against, the Principal prior to proceeding against Guarantor to the full extent of Guarantor's obligations hereunder; 13.38.2.3. any defense based on any legal disability of the Principal and any discharge, release or limitation of the liability of the Principal to Beneficiary, whether consensual or arising by operation of law or any bankruptcy, reorganization, receivership, insolvency, or debtor-relief proceeding, or from any other cause, or any claim that Guarantor's obligations exceed or are more burdensome than those of the Principal; 13.38.2.4. except as specifically provided herein or in the Indenture or any Security Document, all presentments, demands for performance, notices of nonperformance, protests, notices of protest, notices of dishonor, notices of acceptance of this Deed of Trust and of the existence, creation, or incurring of new or additional indebtedness, and demands and notices of every kind; 13.38.2.5. any defense based on or arising out of any defense that the Principal may have to the payment or performance of any obligation set forth in this Deed of Trust (other than payment or performance in full); and 13.38.2.6. until all obligations under this Deed of Trust have been paid and performed in full, all rights of subrogation and all rights to enforce any remedy that Guarantor may have against the Principal, all regardless of whether Guarantor may have made any payments to Beneficiary. 13.38.3. Guarantor assumes full responsibility for keeping informed of the financial condition and business operations of the Principal and all other circumstances affecting the Principal's ability to pay for and perform its obligations, and agrees that Beneficiary shall have no duty to disclose to Guarantor any information which Beneficiary may receive about the Principal's financial condition, business operations, or any other circumstances bearing on its ability to perform. 13.38.4. Notwithstanding anything to the contrary provided elsewhere herein, in no event shall Guarantor have any liability under this Deed of Trust beyond its interest in the portion of the Property that is owned by Guarantor, and in no event shall Guarantor's obligations hereunder be enforced against any property of Guarantor other than its interest in such portion of the Property.
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Guarantor Waivers. If and to the extent that Trustor (for the purposes of this Section 13.2412.23, "Guarantor") would be deemed or construed to be a guarantor or surety under Applicable Law applicable law with respect to its obligations hereunder, Guarantor hereby agrees as follows:
13.38.112.23.1. Guarantor expressly agrees that until each and every term, covenant and condition of this Deed of Trust is fully performed, Guarantor shall not be released by any act or event which, except for this provision of this Deed of Trust might be deemed a legal or equitable discharge or exoneration of a surety, or because of any waiver, extension, modification, forbearance or delay or other act or omission of Beneficiary or its failure to proceed promptly or otherwise as against any Issuer Fitzgeralds or any other Guarantor, as the case may be (individually and collectively, in its or their capacity as the entity or entities the obligations of which are guaranteed hereunder by Guarantor, the "Principal") or Guarantor, or because of any action taken or omitted or circumstance which might vary the risk or affect the rights or remedies of Guarantor as against the Principal, or because of any further dealings between the Principal and Beneficiary, whether relating to this Deed of Trust or otherwise. Guarantor hereby expressly waives and surrenders any defense to Guarantor's liability under this Deed of Trust based upon any of the foregoing acts, omissions, things, agreements, waivers or any of them. It is the purpose and intent of this Deed of Trust that the obligations of Guarantor under it shall be absolute and unconditional under any and all circumstances, subject to and in accordance with the terms and conditions of this Deed of Trust.
13.38.2. Without in any way limiting the provisions of Section 13.24.1, Guarantor waives:
13.38.2.1. all statutes of limitations as a defense to any action or proceeding brought against Guarantor by Beneficiary, to the fullest extent permitted by Applicable Laws;
13.38.2.2. any right it may have to require Beneficiary to proceed against the Principal or pursue any other remedy in Beneficiary's power to pursue, it being acknowledged and agreed that the obligations of Guarantor hereunder are independent of the obligations of the Principal hereunder, and Beneficiary shall not be required to make any demand upon, exercise any right to declare a default by, or proceed against, the Principal prior to proceeding against Guarantor to the full extent of Guarantor's obligations hereunder;
13.38.2.3. any defense based on any legal disability of the Principal and any discharge, release or limitation of the liability of the Principal to Beneficiary, whether consensual or arising by operation of law or any bankruptcy, reorganization, receivership, insolvency, or debtor-relief proceeding, or from any other cause, or any claim that Guarantor's obligations exceed or are more burdensome than those of the Principal;
13.38.2.4. except as specifically provided herein or in the Indenture or any Security Document, all presentments, demands for performance, notices of nonperformance, protests, notices of protest, notices of dishonor, notices of acceptance of this Deed of Trust and of the existence, creation, or incurring of new or additional indebtedness, and demands and notices of every kind;
13.38.2.5. any defense based on or arising out of any defense that the Principal may have to the payment or performance of any obligation set forth in this Deed of Trust (other than payment or performance in full); and
13.38.2.6. until all obligations under this Deed of Trust have been paid and performed in full, all rights of subrogation and all rights to enforce any remedy that Guarantor may have against the Principal, all regardless of whether Guarantor may have made any payments to Beneficiary.
13.38.3. Guarantor assumes full responsibility for keeping informed of the financial condition and business operations of the Principal and all other circumstances affecting the Principal's ability to pay for and perform its obligations, and agrees that Beneficiary shall have no duty to disclose to Guarantor any information which Beneficiary may receive about the Principal's financial condition, business operations, or any other circumstances bearing on its ability to perform.
13.38.4. Notwithstanding anything to the contrary provided elsewhere herein, in no event shall Guarantor have any liability under this Deed of Trust beyond its interest in the portion of the Property that is owned by Guarantor, and in no event shall Guarantor's obligations hereunder be enforced against any property of Guarantor other than its interest in such portion of the Property.of
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Guarantor Waivers. If and to the extent that any Trustor (for the purposes of this Section 13.2412.23, "“Guarantor"”) would be deemed or construed to be a guarantor or surety under Applicable Law applicable law with respect to its obligations hereunder, Guarantor hereby agrees as follows:
13.38.112.23.1. Guarantor expressly agrees that until each and every term, covenant and condition of this Deed of Trust is fully performed, Guarantor shall not be released by any act or event which, except for this provision of this Deed of Trust might be deemed a legal or equitable discharge or exoneration of a surety, or because of any waiver, extension, modification, forbearance or delay or other act or omission of Beneficiary or its failure to proceed promptly or otherwise as against any Issuer Issuers or any other Guarantor, as the case may be (individually and collectively, in its or their capacity as the entity or entities the obligations of which are guaranteed hereunder by Guarantor, the "“Principal"”) or Guarantor, or because of any action taken or omitted or circumstance which might vary the risk or affect the rights or remedies of Guarantor as against the Principal, or because of any further dealings between the Principal and Beneficiary, whether relating to this Deed of Trust or otherwise. Guarantor hereby expressly waives and surrenders any defense to Guarantor's ’s liability under this Deed of Trust based upon any of the foregoing acts, omissions, things, agreements, waivers or any of them. It is the purpose and intent of this Deed of Trust that the obligations of Guarantor under it shall be absolute and unconditional under any and all circumstances, subject to and in accordance with the terms and conditions of this Deed of Trust.
13.38.212.23.2. Without in any way limiting the provisions of Section 13.24.112.23.1, to the extent provided under NRS Section 40.495, Guarantor waives the applicable provisions of NRS Section 40.430 and Guarantor further waives:
13.38.2.112.23.2.1. all statutes of limitations as a defense to any action or proceeding brought against Guarantor by Beneficiary, to the fullest extent permitted by Applicable Lawslaw;
13.38.2.212.23.2.2. any right it may have to require Beneficiary to proceed against the Principal or pursue any other remedy in Beneficiary's ’s power to pursue, it being acknowledged and agreed that the obligations of Guarantor hereunder are independent of the obligations of the Principal hereunder, and Beneficiary shall not be required to make any demand upon, exercise any right to declare a default by, or proceed against, the Principal prior to proceeding against Guarantor to the full extent of Guarantor's ’s obligations hereunder;
13.38.2.312.23.2.3. any defense based on any legal disability of the Principal and any discharge, release or limitation of the liability of the Principal to Beneficiary, whether consensual or arising by operation of law or any bankruptcy, reorganization, receivership, insolvency, or debtor-relief proceeding, or from any other cause, or any claim that Guarantor's ’s obligations exceed or are more burdensome than those of the Principal;
13.38.2.412.23.2.4. except as specifically provided herein or in the Indenture or any Security Document, all presentments, demands for performance, notices of nonperformance, protests, notices of protest, notices of dishonor, notices of acceptance of this Deed of Trust and of the existence, creation, or incurring of new or additional indebtedness, and demands and notices of every kind;
13.38.2.512.23.2.5. any defense based on or arising out of any defense that the Principal may have to the payment or performance of any obligation set forth in this Deed of Trust (other than payment or performance in full)Trust; and
13.38.2.612.23.2.6. until all obligations under this Deed of Trust have been paid and performed in full, all rights of subrogation and all rights to enforce any remedy that Guarantor may have against the Principal, all regardless of whether Guarantor may have made any payments to Beneficiary.
13.38.312.23.3. Guarantor assumes full responsibility for keeping informed of the financial condition and business operations of the Principal and all other circumstances affecting the Principal's ’s ability to pay for and perform its obligations, and agrees that Beneficiary shall have no duty to disclose to Guarantor any information which Beneficiary may receive about the Principal's ’s financial condition, business operations, or any other circumstances bearing on its ability to perform.
13.38.412.23.4. Notwithstanding anything to the contrary provided elsewhere herein, in no event shall Guarantor have any liability under this Deed of Trust beyond its interest in the portion of the Property that is owned by Guarantor, and in no event shall Guarantor's ’s obligations hereunder be enforced against any property of Guarantor other than its interest in such portion of the Property.
Appears in 1 contract
Guarantor Waivers. If and to the extent that Trustor (for the purposes of this Section 13.2412.23, "Guarantor") would be deemed or construed to be a guarantor or surety under Applicable Law applicable law with respect to its obligations hereunder, Guarantor hereby agrees as follows:
13.38.112.23.1. Guarantor expressly agrees that until each and every term, covenant and condition of this Deed of Trust is fully performed, Guarantor shall not be released by any act or event which, except for this provision of this Deed of Trust might be deemed a legal or equitable discharge or exoneration of a surety, or because of any waiver, extension, modification, forbearance or delay or other act or omission of Beneficiary or its failure to proceed promptly or otherwise as against any Issuer Fitzgeralds or any other Guarantor, as the case may be (individually and collectively, in its or their capacity as the entity or entities the obligations of which are guaranteed hereunder by Guarantor, the "Principal") or Guarantor, or because of any action taken or omitted or circumstance which might vary the risk or affect the rights or remedies of Guarantor as against the Principal, or because of any further dealings between the Principal and Beneficiary, whether relating to this Deed of Trust or otherwise. Guarantor hereby expressly waives and surrenders any defense to Guarantor's liability under this Deed of Trust based upon any of the foregoing acts, omissions, things, agreements, waivers or any of them. It is the purpose and intent of this Deed of Trust that the obligations of Guarantor under it shall be absolute and unconditional under any and all circumstances, subject to and in accordance with the terms and conditions of this Deed of Trust.
13.38.212.23.2. Without in any way limiting the provisions of Section 13.24.112.23.1, to the extent provided under NRS Section 40.495, Guarantor waives the applicable provisions of NRS Section 40.430 and further Guarantor waives:
13.38.2.112.23.2.1. all statutes of limitations as a defense to any action or proceeding brought against Guarantor by Beneficiary, to the fullest extent permitted by Applicable Lawslaw;
13.38.2.212.23.2.2. any right it may have to require Beneficiary to proceed against the Principal or pursue any other remedy in Beneficiary's power to pursue, it being acknowledged and agreed that the obligations of Guarantor hereunder are independent of the obligations of the Principal hereunder, and Beneficiary shall not be required to make any demand upon, exercise any right to declare a default by, or proceed against, the Principal prior to proceeding against Guarantor to the full extent of Guarantor's obligations hereunder;
13.38.2.312.23.2.3. any defense based on any legal disability of the Principal and any discharge, release or limitation of the liability of the Principal to Beneficiary, whether consensual or arising by operation of law or any bankruptcy, reorganization, receivership, insolvency, or debtor-relief proceeding, or from any other cause, or any claim that Guarantor's obligations exceed or are more burdensome than those of the Principal;
13.38.2.412.23.2.4. except as specifically provided herein or in the Indenture or any Security Document, all presentments, demands for performance, notices of nonperformance, protests, notices of protest, notices of dishonor, notices of acceptance of this Deed of Trust and of the existence, creation, or incurring of new or additional indebtedness, and demands and notices of every kind;
13.38.2.512.23.2.5. any defense based on or arising out of any defense that the Principal may have to the payment or performance of any obligation set forth in this Deed of Trust (other than payment or performance in full)Trust; and
13.38.2.612.23.2.6. until all obligations under this Deed of Trust have been paid and performed in full, all rights of subrogation and all rights to enforce any remedy that Guarantor may have against the Principal, all regardless of whether Guarantor may have made any payments to Beneficiary.
13.38.312.23.3. Guarantor assumes full responsibility for keeping informed of the financial condition and business operations of the Principal and all other circumstances affecting the Principal's ability to pay for and perform its obligations, and agrees that Beneficiary shall have no duty to disclose to Guarantor any information which Beneficiary may receive about the Principal's financial condition, business operations, or any other circumstances bearing on its ability to perform.
13.38.412.23.4. Notwithstanding anything to the contrary provided elsewhere herein, in no event shall Guarantor have any liability under this Deed of Trust beyond its interest in the portion of the Property that is owned by Guarantor, and in no event shall 54 55 Guarantor's obligations hereunder be enforced against any property of Guarantor other than its interest in such portion of the Property.
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Guarantor Waivers. If and to the extent that Trustor (for the purposes of this Section 13.2412.23, "Guarantor") would be deemed or construed to be a guarantor or surety under Applicable Law applicable law with respect to its obligations hereunder, Guarantor hereby agrees as follows:
13.38.112.23.1. Guarantor expressly agrees that until each and every term, covenant and condition of this Deed of Trust is fully performed, Guarantor shall not be released by any act or event which, except for this provision of this Deed of Trust might be deemed a legal or equitable discharge or exoneration of a surety, or because of any waiver, extension, modification, forbearance or delay or other act or omission of Beneficiary or its failure to proceed promptly or otherwise as against any Issuer Fitzgeralds or any other Guarantor, as the case may be (individually and collectively, in its or their capacity as the entity or entities the obligations of which are guaranteed hereunder by Guarantor, the "Principal") or Guarantor, or because of any action taken or omitted or circumstance which might vary the risk or affect the rights or remedies of Guarantor as against the Principal, or because of any further dealings between the Principal and Beneficiary, whether relating to this Deed of Trust or otherwise. Guarantor hereby expressly waives and surrenders any defense to Guarantor's liability under this Deed of Trust based upon any of the foregoing acts, omissions, things, agreements, waivers or any of them. It is the purpose and intent of this Deed of Trust that the obligations of Guarantor under it shall be absolute and unconditional under any and all circumstances, subject to and in accordance with the terms and conditions of this Deed of Trust.
13.38.2. Without in any way limiting the provisions of Section 13.24.1, Guarantor waives:
13.38.2.1. all statutes of limitations as a defense to any action or proceeding brought against Guarantor by Beneficiary, to the fullest extent permitted by Applicable Laws;
13.38.2.2. any right it may have to require Beneficiary to proceed against the Principal or pursue any other remedy in Beneficiary's power to pursue, it being acknowledged and agreed that the obligations of Guarantor hereunder are independent of the obligations of the Principal hereunder, and Beneficiary shall not be required to make any demand upon, exercise any right to declare a default by, or proceed against, the Principal prior to proceeding against Guarantor to the full extent of Guarantor's obligations hereunder;
13.38.2.3. any defense based on any legal disability of the Principal and any discharge, release or limitation of the liability of the Principal to Beneficiary, whether consensual or arising by operation of law or any bankruptcy, reorganization, receivership, insolvency, or debtor-relief proceeding, or from any other cause, or any claim that Guarantor's obligations exceed or are more burdensome than those of the Principal;
13.38.2.4. except as specifically provided herein or in the Indenture or any Security Document, all presentments, demands for performance, notices of nonperformance, protests, notices of protest, notices of dishonor, notices of acceptance of this Deed of Trust and of the existence, creation, or incurring of new or additional indebtedness, and demands and notices of every kind;
13.38.2.5. any defense based on or arising out of any defense that the Principal may have to the payment or performance of any obligation set forth in this Deed of Trust (other than payment or performance in full); and
13.38.2.6. until all obligations under this Deed of Trust have been paid and performed in full, all rights of subrogation and all rights to enforce any remedy that Guarantor may have against the Principal, all regardless of whether Guarantor may have made any payments to Beneficiary.
13.38.3. Guarantor assumes full responsibility for keeping informed of the financial condition and business operations of the Principal and all other circumstances affecting the Principal's ability to pay for and perform its obligations, and agrees that Beneficiary shall have no duty to disclose to Guarantor any information which Beneficiary may receive about the Principal's financial condition, business operations, or any other circumstances bearing on its ability to perform.
13.38.4. Notwithstanding anything to the contrary provided elsewhere herein, in no event shall Guarantor have any liability under this Deed of Trust beyond its interest in the portion of the Property that is owned by Guarantor, and in no event shall Guarantor's obligations hereunder be enforced against any property of Guarantor other than its interest in such portion of the Property.Deed
Appears in 1 contract
Guarantor Waivers. If and to the extent that Trustor (for the purposes of this Section 13.2412.23, "Guarantor") would be deemed or construed to be a guarantor or surety under Applicable Law applicable law with respect to its obligations hereunder, Guarantor hereby agrees as follows:
13.38.112.23.1. Guarantor expressly agrees that until each and every term, covenant and condition of this Deed of Trust is fully performed, Guarantor shall not be released by any act or event which, except for this provision of this Deed of Trust might be deemed a legal or equitable discharge or exoneration of a surety, or because of any waiver, extension, modification, forbearance or delay or other act or omission of Beneficiary or its failure to proceed promptly or otherwise as against any Issuer Fitzgeralds or any other Guarantor, as the case may be (individually and collectively, in its or their capacity as the entity or entities the obligations of which are guaranteed hereunder by Guarantor, the "Principal") or Guarantor, or because of any action taken or omitted or circumstance which might vary the risk or affect the rights or remedies of Guarantor as against the Principal, or because of any further dealings between the Principal and Beneficiary, whether relating to this Deed of Trust or otherwise. Guarantor hereby expressly waives and surrenders any defense to Guarantor's liability under this Deed of Trust based upon any of the foregoing acts, omissions, things, agreements, waivers or any of them. It is the purpose and intent of this Deed of Trust that the obligations of Guarantor under it shall be absolute and unconditional under any and all circumstances, subject to and in accordance with the terms and conditions of this Deed of Trust.
13.38.212.23.2. Without in any way limiting the provisions of Section 13.24.112.23.1, Guarantor waives:
13.38.2.112.23.2.1. all statutes of limitations as a defense to any action or proceeding brought against Guarantor by Beneficiary, to the fullest extent permitted by Applicable Lawslaw;
13.38.2.212.23.2.2. any right it may have to require Beneficiary to proceed against the Principal or pursue any other remedy in Beneficiary's power to pursue, it being acknowledged and agreed that the obligations of Guarantor hereunder are independent of the obligations of the Principal hereunder, and Beneficiary shall not be required to make any demand upon, exercise any right to declare a default by, or proceed against, the Principal prior to proceeding against Guarantor to the full extent of Guarantor's obligations hereunder;
13.38.2.3. any defense based on any legal disability of the Principal and any discharge, release or limitation of the liability of the Principal to Beneficiary, whether consensual or arising by operation of law or any bankruptcy, reorganization, receivership, insolvency, or debtor-relief proceeding, or from any other cause, or any claim that Guarantor's obligations exceed or are more burdensome than those of the Principal;
13.38.2.4. except as specifically provided herein or in the Indenture or any Security Document, all presentments, demands for performance, notices of nonperformance, protests, notices of protest, notices of dishonor, notices of acceptance of this Deed of Trust and of the existence, creation, or incurring of new or additional indebtedness, and demands and notices of every kind;
13.38.2.5. any defense based on or arising out of any defense that the Principal may have to the payment or performance of any obligation set forth in this Deed of Trust (other than payment or performance in full); and
13.38.2.6. until all obligations under this Deed of Trust have been paid and performed in full, all rights of subrogation and all rights to enforce any remedy that Guarantor may have against the Principal, all regardless of whether Guarantor may have made any payments to Beneficiary.
13.38.3. Guarantor assumes full responsibility for keeping informed of the financial condition and business operations of the Principal and all other circumstances affecting the Principal's ability to pay for and perform its obligations, and agrees that Beneficiary shall have no duty to disclose to Guarantor any information which Beneficiary may receive about the Principal's financial condition, business operations, or any other circumstances bearing on its ability to perform.
13.38.4. Notwithstanding anything to the contrary provided elsewhere herein, in no event shall Guarantor have any liability under this Deed of Trust beyond its interest in the portion of the Property that is owned by Guarantor, and in no event shall Guarantor's obligations hereunder be enforced against any property of Guarantor other than its interest in such portion of the Property.inde-
Appears in 1 contract
Guarantor Waivers. If and to the extent that Trustor (for the purposes of this Section 13.2412.23, "Guarantor") would be deemed or construed to be a guarantor or surety under Applicable Law applicable law with respect to its obligations hereunder, Guarantor hereby agrees as follows:
13.38.112.23.1. Guarantor expressly agrees that until each and every term, covenant and condition of this Deed of Trust is fully performed, Guarantor shall not be released by any act or event which, except for this provision of this Deed of Trust might be deemed a legal or equitable discharge or exoneration of a surety, or because of any waiver, extension, modification, forbearance or delay or other act or omission of Beneficiary or its failure to proceed promptly or otherwise as against any Issuer Fitzgeralds or any other Guarantor, as the case may be (individually and collectively, in its or their capacity as the entity or entities the obligations of which are guaranteed hereunder by Guarantor, the "Principal") or Guarantor, or because of any action taken or omitted or circumstance which might vary the risk or affect the rights or remedies of Guarantor as against the Principal, or because of any further dealings between the Principal and Beneficiary, whether relating to this Deed of Trust or otherwise. Guarantor hereby expressly waives and surrenders any defense to Guarantor's liability under this Deed of Trust based upon any of the foregoing acts, omissions, things, agreements, waivers or any of them. It is the purpose and intent of this Deed of Trust that the obligations of Guarantor under it shall be absolute and unconditional under any and all circumstances, subject to and in accordance with the terms and conditions of this Deed of Trust.
13.38.212.23.2. Without in any way limiting the provisions of Section 13.24.112.23.1, to the extent provided under NRS Section 40.495, Guarantor waives the applicable provisions of NRS Section 40.430 and further Guarantor waives:
13.38.2.112.23.2.1. all statutes of limitations as a defense to any action or proceeding brought against Guarantor by Beneficiary, to the fullest extent permitted by Applicable Lawslaw;
13.38.2.212.23.2.2. any right it may have to require Beneficiary to proceed against the Principal or pursue any other remedy in Beneficiary's power to pursue, it being acknowledged and agreed that the obligations of Guarantor hereunder are independent of the obligations of the Principal hereunder, and Beneficiary shall not be required to make any demand upon, exercise any right to declare a default by, or proceed against, the Principal prior to proceeding against Guarantor to the full extent of Guarantor's obligations hereunder;
13.38.2.312.23.2.3. any defense based on any legal disability of the Principal and any discharge, release or limitation of the liability of the Principal to Beneficiary, whether consensual or arising by operation of law or any bankruptcy, reorganization, receivership, insolvency, or debtor-relief proceeding, or from any other cause, or any claim that Guarantor's obligations exceed or are more burdensome than those of the Principal;
13.38.2.412.23.2.4. except as specifically provided herein or in the Indenture or any Security Document, all presentments, demands for performance, notices of nonperformance, protests, notices of protest, notices of dishonor, notices of acceptance of this Deed of Trust and of the existence, creation, or incurring of new or additional indebtedness, and demands and notices of every kind;
13.38.2.512.23.2.5. any defense based on or arising out of any defense that the Principal may have to the payment or performance of any obligation set forth in this Deed of Trust (other than payment or performance in full)Trust; and
13.38.2.612.23.2.6. until all obligations under this Deed of Trust have been paid and performed in full, all rights of subrogation and all rights to enforce any remedy that Guarantor may have against the Principal, all regardless of whether Guarantor may have made any payments to Beneficiary.
13.38.312.23.3. Guarantor assumes full responsibility for keeping informed of the financial condition and business operations of the Principal and all other circumstances affecting the Principal's ability to pay for and perform its obligations, and agrees that Beneficiary shall have no duty to disclose to Guarantor any information which Beneficiary may receive about the Principal's financial condition, business operations, or any other circumstances bearing on its ability to perform.
13.38.412.23.4. Notwithstanding anything to the contrary provided elsewhere herein, in no event shall Guarantor have any liability under this Deed of Trust beyond its interest in the portion of the Property that is owned by Guarantor, and in no event shall Guarantor's obligations hereunder be enforced against any property of Guarantor other than its interest in such portion of the Property.shall
Appears in 1 contract
