Common use of GUARANTOR'S WAIVERS Clause in Contracts

GUARANTOR'S WAIVERS. Except as prohibited by applicable law, Guarantor waives any right to require Lender (A) to continue lending money or to extend other credit to Borrower; (B) to make any presentment, protest, demand, or notice of any kind, including notice of any nonpayment of the indebtedness or of any nonpayment related to any collateral, or notice of any action or nonaction on the part of Borrower, Lender, any surety, endorser, or other guarantor in connection with the indebtedness or in connection with the creation of new or additional loans or obligations; (C) to resort for payment or to proceed directly or at once against any person, including Borrower or any other guarantor; (D) to proceed directly against or exhaust any collateral held by Lender from Borrower, any other guarantor, or any other person; (E) to give notice of the terms, time, and place of any public or private sale of personal property security held by Lender from Borrower or to comply with any other applicable provisions of the Uniform Commercial Code; (F) to pursue any other remedy with Lender's power; or (G) to commit any act or omission of any kind, or at any time, with respect to any matter whatsoever. In addition to the waivers set forth above, if now or hereafter Borrower is or shall become insolvent and the indebtedness shall not at all times until paid be fully secured by collateral pledged by Borrower, Guarantor hereby forever waives and gives up in favor of Lender and Borrower, and Lender's and Borrower's respective successors, any claim or right to payment Guarantor may now have or hereafter have or acquire against Borrower, by subrogation or otherwise, so that at no time shall Guarantor be or become a "creditor" of Borrower within the meaning of 11 U.S.C. section 547(b), or any successor provision of the Federal bankruptcy laws. Guarantor also waives any and all rights or defenses arising by reason of (A) any "one action" or "anti-deficiency" law or any other law which may prevent Lender from bringing any action, including a claim for deficiency, against Guarantor, before or after Lender's commencement or completion of any foreclosure action, either judicially or by exercise of a power of sale; (B) any election of remedies by Lender which destroys or otherwise adversely affects Guarantor's subrogation rights or Guarantor's rights to proceed against Borrower for reimbursement, including without imitation, any loss of rights Guarantor may suffer by reason of any law limiting qualifying, or discharging the indebtedness; (C) any disability or other defense of Borrower, of any other guarantor, or of any other person, or by reason of the cessation of Borrower's liability from any cause whatsoever, other than payment in full in legal tender, of the indebtedness; (D) any right to claim discharge of the indebtedness on the basis of impairment of any collateral for the indebtedness; (E) any statute of limitations, if at any time any action or suit brought by Lender against Guarantor is commenced, there is outstanding indebtedness of Borrower to Lender which is not barred by any applicable statute of limitations; (F) any defense given to guarantors at law or in equity other than actual payment and performance of the indebtedness; or (G) by any failure, neglect, or omission by Lender to perfect in any manner the collection of the indebtedness or the security given therefor, including the failure or omission to seek a deficiency judgment against Borrower. If payment is made by Borrower, whether voluntarily or otherwise, or by any third party, on the indebtedness and thereafter Lender is forced to remit the amount of that payment to Borrower's trustee in bankruptcy or to any similar person under any federal or state bankruptcy law for the relief of debtors, the indebtedness shall be considered unpaid for the purpose of the enforcement of this Guaranty. Guarantor further waives and agrees not to assert or claim at any time any deductions to the amount guaranteed under this Guaranty for any claim of setoff, counterclaim, counter demand, recoupment or similar right, whether such claim, demand or right may be asserted by the Borrower, the Guarantor, or both.

Appears in 1 contract

Samples: Commercial Guaranty (Flotek Industries Inc/Cn/)

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GUARANTOR'S WAIVERS. Except as prohibited by applicable law, Guarantor waives any right to require Lender (A) to continue lending money or to extend other credit to Borrower; (B) to make any presentment, protest, demand, or notice of any kind, including notice of any nonpayment of the indebtedness Indebtedness or of any nonpayment related to any collateral, or notice of any action or nonaction non-action on the part of the Borrower, Lender, any surety, endorser, or other guarantor in connection with the indebtedness Indebtedness or in connection with the creation of new or additional loans or obligations; (C) to resort for payment or to proceed directly or at once against any person, including Borrower or any other guarantor; (D) to proceed directly against or exhaust any collateral held by Lender from Borrower, any other guarantor, or any other person; (E) to give notice of the terms, time, and place of any public or private sale of personal property security held by Lender from Borrower or to comply with any other applicable provisions of the Uniform Commercial Code; (F) to pursue any other remedy with within Lender's power; or (G) to commit any act or omission of any kind, or at any time, with respect to any matter whatsoever. In addition to the waivers set forth aboveherein, if now or hereafter Borrower is or shall become insolvent and the indebtedness Indebtedness shall not at all times until paid be fully secured by collateral pledged by Borrower, Guarantor hereby forever waives and gives up in favor of Lender and Borrower, and Lender's and Borrower's respective successors, any claim or right to payment Guarantor may now have or hereafter have or acquire against Borrower, by subrogation or otherwise, so that at no time shall Guarantor be or become a "creditor" of Borrower within the meaning of 11 U.S.C. section 547(b), or any successor provision of the Federal bankruptcy laws. Guarantor also waives any and all rights or defenses arising by reason of (A) any "one action" or "anti-deficiency" law or any other law which may prevent Lender from bringing any action, including a claim for deficiency, against Guarantor, before or after Lender's commencement or completion of any foreclosure action, either judicially or by exercise of a power of sale; (B) any election of remedies by Lender which destroys or otherwise adversely affects Guarantor's subrogation rights or Guarantor's rights to proceed against Borrower for reimbursement, including without imitationlimitation, any loss of rights Guarantor may suffer by reason of any law limiting limiting, qualifying, or discharging the indebtednessIndebtedness; (C) any disability or other defense of Borrower, of or any other guarantor, or of any other person, or by reason of the cessation of Borrower's liability from any cause whatsoever, other than payment in full in legal tender, of the indebtednessIndebtedness; (D) any right to claim discharge of the indebtedness Indebtedness on the basis of unjustified impairment of any collateral for the indebtednessIndebtedness; (E) any statute of limitations, if at any time any action or suit brought by Lender against Guarantor is commenced, there is outstanding indebtedness Indebtedness of Borrower to Lender which is not barred by any applicable statute of limitations; or (F) any defense defenses given to guarantors at law or in equity other than actual payment and performance of the indebtedness; or (G) by any failure, neglect, or omission by Lender to perfect in any manner the collection of the indebtedness or the security given therefor, including the failure or omission to seek a deficiency judgment against BorrowerIndebtedness. If payment is made by Borrower, whether voluntarily or otherwise, or by any third party, on the indebtedness Indebtedness and thereafter Lender is forced to remit the amount of that payment to Borrower's trustee in bankruptcy or to any similar person under any federal or state bankruptcy law of law for the relief of debtors, the indebtedness Indebtedness shall be considered unpaid for the purpose of the enforcement of this Guaranty. In addition to the waivers set forth above, Guarantor expressly waives, to the extent permitted by Arizona law, all of Guarantor's rights under sections 12-1641, 12-1642, 12-1643, 12-1644, 44-142, and 47-3606 if the Arizona Revised Statutes, and Rule 17f of the Arizona Revised Statutes Rules of Civil Procedure. Guarantor further waives and agrees not to assert or claim at any time any deductions to the amount guaranteed under this Guaranty for any claim of setoff, counterclaim, counter demand, recoupment or similar right, whether such claim, demand or right may be asserted by the Borrower, the Guarantor, or both.

Appears in 1 contract

Samples: Commercial Guaranty (Nationwide Financial Solutions, Inc.)

GUARANTOR'S WAIVERS. Except as prohibited by applicable law, Guarantor waives any right to require Lender (A) to continue lending money or to extend other credit to Borrower; (B) to make any presentment, protest, demand, or notice of any kind, including notice of any nonpayment of the indebtedness Indebtedness or of any nonpayment related to any collateral, or notice of any action or nonaction on the part of Borrower, Lender, any surety, endorser, or other guarantor in connection with the indebtedness Indebtedness or in connection with the creation of new or additional loans or obligations; (C) to resort for payment or to proceed directly or at once against any person, including Borrower or any other guarantor; (D) to proceed directly against or exhaust any collateral held by Lender from Borrower, any other guarantorGuarantor, or any other person; (E) to give notice of the terms, time, and place of any public or private sale of personal property security held by Lender Xxxxxx from Borrower or to comply with any other applicable provisions of the Uniform Commercial Code; (F) to pursue any other remedy with within Lender's ’s power; or (G) to commit any act or omission of any kind, or at any time, with respect to any matter whatsoever. In addition to the waivers set forth aboveherein, if now or hereafter Borrower is or shall become insolvent and the indebtedness Indebtedness shall not at all times until paid be fully secured by collateral pledged by BorrowerXxxxxxxx, Guarantor hereby forever waives and gives up in favor of Lender Xxxxxx and BorrowerXxxxxxxx, and Lender's Xxxxxx’s and Borrower's Xxxxxxxx’s respective successors, any claim or right to payment Guarantor may now have or hereafter have or acquire against Borrower, by subrogation or otherwise, so that at no time shall Guarantor be or become a "creditor" of Borrower within the meaning of 11 U.S.C. section 547(b547 (b), or any successor provision of the Federal bankruptcy laws. Guarantor also waives any and all rights or defenses arising by reason of (A) any "one action" or "anti-deficiency" law or any other law which may prevent Lender from bringing any action, including a claim for deficiency, against Guarantor, before or after Lender's ’s commencement or completion of any foreclosure action, either judicially or by exercise of a power of for sale; (B) any election of remedies by Lender which destroys or otherwise adversely affects Guarantor's ’s subrogation rights or Guarantor's ’s rights to proceed against Borrower for reimbursement, including without imitationlimitation, any loss of rights Guarantor may suffer by reason of any law limiting limiting, qualifying, or discharging the indebtednessIndebtedness; (C) any disability or other defense of Borrower, of any other guarantor, or of any other person, or by reason of the cessation of Borrower's ’s liability from any cause whatsoever, other than payment in full in legal tender, of the indebtednessIndebtedness; (D) any right to claim discharge of the indebtedness Indebtedness on the basis of unjustified impairment of any collateral for the indebtednessIndebtedness; (E) any statute of limitations, if at any time any action or suit brought by Lender against Guarantor is commenced, there is outstanding indebtedness Indebtedness of Borrower to Lender which is not barred by any applicable statute of limitations; or (F) any defense defenses given to guarantors at law or in equity other than actual payment and performance of the indebtedness; or (G) by any failure, neglect, or omission by Lender to perfect in any manner the collection of the indebtedness or the security given therefor, including the failure or omission to seek a deficiency judgment against BorrowerIndebtedness. If payment is made by BorrowerXxxxxxxx, whether voluntarily or otherwise, or by any third party, on the indebtedness Indebtedness and thereafter Lender Xxxxxx is forced to remit the amount of that payment to Borrower's trustee ’s trustees in bankruptcy or to any similar person under any federal or state bankruptcy law or law for the relief of debtors, the indebtedness Indebtedness shall be considered unpaid for the purpose of the enforcement of this Guaranty. Guarantor further waives and agrees not to assert or claim at any time any deductions to the amount guaranteed under this Guaranty for any claim of setoff, counterclaim, counter demand, recoupment or similar right, whether such claim, demand or right may be asserted by the Borrower, the Guarantor, or both.

Appears in 1 contract

Samples: Guaranty Agreement (At&s Holdings Inc)

GUARANTOR'S WAIVERS. Except as prohibited by applicable law, Guarantor waives any right to require Lender Creditor (Aa) to continue lending money any lease, make advances, or to extend other credit or financial accommodations to BorrowerDebtor; (Bb) to make any presentment, protest, demand, or notice of any kind, including notice of any nonpayment or failure of performance of the indebtedness Obligations or of any nonpayment or failure of performance related to any collateral, or notice of any action or nonaction inaction on the part of BorrowerDebtor, LenderCreditor, any surety, endorser, or other guarantor in connection with the indebtedness Obligations or in connection with the creation of new changes or additional loans or obligationsadvances; (Cc) to resort for payment or to proceed directly or at once against any person, including Borrower or any other guarantor; (D) to proceed directly against or exhaust any collateral held by Lender Creditor from BorrowerDebtor, any other guarantor, or any other person; (Ee) to give notice of the terms, time, and place of any public or private sale of personal property security held by Lender Creditor from Borrower Debtor or to strictly comply with any other applicable provisions of the Uniform Commercial Code, Guarantor agreeing that good faith substantial compliance shall be sufficient; or (Ff) to pursue any other remedy with Lender's within Creditor’s power; . 9.1. If now or (G) later Debtor shall be or become insolvent subject to commit any act insolvency or omission bankruptcy proceeding, Guarantor now and forever waives and relinquishes in favor of any kindCreditor and Debtor, and their respective successors, unless and until all the Obligations have been satisfied, and the Creditor has released, transferred, or at disposed of all of its rights, title, and interest in any time, collateral or security or guaranty or other rights (other than with respect to any matter whatsoever. In addition the assignment or transfer of the Obligations to the waivers set forth above, if now or hereafter Borrower is or shall become insolvent and the indebtedness shall not at all times until paid be fully secured by collateral pledged by Borrower, Guarantor hereby forever waives and gives up a successor in favor of Lender and Borrower, and Lender's and Borrower's respective successorsinterest), any claim or right to payment which Guarantor may now have or hereafter later have or acquire against BorrowerDebtor by subrogation, by subrogation indemnification, or reimbursement of any kind, or otherwise, so that at no time shall Guarantor be or become a "creditor" of Borrower Debtor within the meaning of 11 U.S.C. section U .S.C. Section 547(b), or any successor provision of the Federal bankruptcy lawsUnited States Bankruptcy Code. 9.2. The Guarantor also waives further agrees that, to the extent the waiver of its rights of subrogation and similar rights (such as indemnification or reimbursement) is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation or similar rights the Guarantor may have against the Debtor or against any collateral or security shall be junior and subordinate to any right the Creditor may have against the Debtor and to all rights right, title, and interest the Creditor may have in any collateral or defenses arising by reason of (A) any "one action" security . The Creditor may use, sell, or "anti-deficiency" law or any other law which may prevent Lender from bringing any action, including a claim for deficiency, against Guarantor, before or after Lender's commencement or completion dispose of any foreclosure actionitem of collateral or security as it sees fit without regard to any subrogation or similar right the Guarantor may have, either judicially and upon disposition or by exercise of a power of sale; (B) any election of remedies by Lender which destroys or otherwise adversely affects Guarantor's subrogation rights or Guarantor's rights to proceed against Borrower for reimbursement, including without imitation, any loss right of rights subrogation or similar right the Guarantor may suffer by reason of any law limiting qualifying, or discharging the indebtedness; (C) any disability or other defense of Borrower, of any other guarantor, or of any other person, or by reason of the cessation of Borrower's liability from any cause whatsoever, other than payment in full in legal tender, of the indebtedness; (D) any right have with respect to claim discharge of the indebtedness on the basis of impairment of any collateral for the indebtedness; (E) any statute of limitations, if at any time any action or suit brought by Lender against Guarantor is commenced, there is outstanding indebtedness of Borrower to Lender which is not barred by any applicable statute of limitations; (F) any defense given to guarantors at law or in equity other than actual payment and performance of the indebtedness; or (G) by any failure, neglect, or omission by Lender to perfect in any manner the collection of the indebtedness or the security given therefor, including the failure or omission to seek a deficiency judgment against Borrowersuch item shall terminate. 9.3. If payment is made by Borrower, whether voluntarily or otherwise, or by any third party, on the indebtedness and thereafter Lender is forced to remit the amount of that payment to Borrower's trustee in bankruptcy or to any similar person under any federal or state bankruptcy law for the relief of debtors, the indebtedness shall be considered unpaid for the purpose of the enforcement of this Guaranty. 9.4. Guarantor further waives and agrees not to assert or claim at any time any deductions to the amount guaranteed under this Guaranty for any claim of setoff, counterclaim, counter demand, recoupment recoupment, or similar right, whether such claim, demand demand, or right may be asserted by the BorrowerDebtor, the Guarantor, or bothboth . Separate claims by Guarantor which do not in any way affect or reduce or delay any payments or performance due under this Guaranty are not prohibited.

Appears in 1 contract

Samples: Ground Lease Agreement

GUARANTOR'S WAIVERS. Except as prohibited by applicable law, Guarantor waives any right to require Lender (A) to continue lending money or to extend other credit to Borrower; (B) to make any presentment, protest, demand, or notice of any kind, including notice of any nonpayment of the indebtedness Indebtedness or of any nonpayment related to any collateral, or notice of any action or nonaction on the part of Borrower, Lender, any surety, endorser, or other guarantor in connection with the indebtedness Indebtedness or in connection with the creation of new or additional loans or obligations; (C) to resort for payment or to proceed directly or at once against any person, including Borrower or any other guarantor; (D) to proceed directly against or exhaust any collateral held by Lender Xxxxxx from Borrower, any other guarantor, or any other person; (E) to give notice of the terms, time, and place of any public or private sale of personal property security held by Lender Xxxxxx from Borrower or to comply with any other applicable provisions of the Uniform Commercial Code; (F) to pursue any other remedy with within Lender's ’s power; or (G) to commit any act or omission of any kind, or at any time, with respect to any matter whatsoever. In addition to the waivers set forth aboveherein, if now or hereafter Borrower is or shall become insolvent and the indebtedness Indebtedness shall not at all times until paid be fully secured by collateral pledged by BorrowerXxxxxxxx, Guarantor hereby forever waives and gives up in favor of Lender Xxxxxx and BorrowerXxxxxxxx, and Lender's Xxxxxx’s and Borrower's Xxxxxxxx’s respective successors, any claim or right to payment Guarantor may now have or hereafter have or acquire against Borrower, by subrogation or otherwise, so that at no time shall Guarantor be or become a "creditor" of Borrower within the meaning of 11 U.S.C. section 547(b), or any successor provision of the Federal bankruptcy laws. Guarantor also waives any and all rights or defenses arising by reason of (A) any "one action" or "anti-deficiency" law or any other law which may prevent Lender from bringing any action, including a claim for deficiency, against Guarantor, before or after Lender's ’s commencement or completion of any foreclosure action, either judicially or by exercise of a power of sale; (B) any election of remedies by Lender which destroys or otherwise adversely affects Guarantor's ’s subrogation rights or of Guarantor's ’s rights to proceed against Borrower for reimbursement, including without imitationlimitation, any loss of rights Guarantor may suffer by reason of any law limiting limiting, qualifying, or discharging the indebtednessIndebtedness; (C) any disability or other defense of Borrower, of any other guarantor, or of any other person, or by reason of the cessation of Borrower's ’s liability from any cause whatsoever, other than payment in full in legal tender, of the indebtednessIndebtedness; (D) any right to claim discharge of the indebtedness Indebtedness on the basis of unjustified impairment of any collateral for the indebtednessIndebtedness; (E) any statute of limitations, if at any time any action or suit brought by Lender against Guarantor is commenced, there is outstanding indebtedness Indebtedness of Borrower to Lender which is not barred by any applicable statute of limitations; or (F) any defense defenses given to guarantors at law or in equity other than actual payment and performance of the indebtedness; or (G) by any failure, neglect, or omission by Lender to perfect in any manner the collection of the indebtedness or the security given therefor, including the failure or omission to seek a deficiency judgment against BorrowerIndebtedness. If payment is made by BorrowerXxxxxxxx, whether voluntarily or otherwise, or by any third party, on the indebtedness Indebtedness and thereafter Lender Xxxxxx is forced to remit the amount of that payment to Borrower's Xxxxxxxx’s trustee in bankruptcy or to any similar person under any federal or state bankruptcy law or law for the relief of debtors, the indebtedness Indebtedness shall be considered unpaid for the purpose of the enforcement of this Guaranty. Guarantor further waives and agrees not to assert or claim at any time any deductions to the amount guaranteed under this Guaranty for any claim of setoff, counterclaim, counter demand, recoupment or similar right, whether such claim, demand or right may be asserted by the Borrower, the Guarantor, or both.

Appears in 1 contract

Samples: Commercial Guaranty (Granite City Food & Brewery LTD)

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GUARANTOR'S WAIVERS. Except as prohibited by applicable law, Guarantor waives any right to require Lender (A) to continue lending money or to extend other credit to Borrower; (B) to make any presentment, protest, demand, or notice of any kind, including notice of any nonpayment of the indebtedness Indebtedness or of any nonpayment related to any collateral, or notice of any action or nonaction on the part of Borrower, Lender, any surety, endorser, or other guarantor in connection with the indebtedness Indebtedness or in connection with the creation of new or additional loans or obligations; (C) to resort for payment or to proceed directly or at once against any person, including Borrower or any other guarantor; (D) to proceed directly against or exhaust any collateral held by Lender Lxxxxx from Borrower, any other guarantor, or any other person; (E) to give notice of the terms, time, and place of any public or private sale of personal property security held by Lender Lxxxxx from Borrower or to comply with any other applicable provisions of the Uniform Commercial Code; (F) to pursue any other remedy with within Lender's ’s power; or (G) to commit any act or omission of any kind, or at any time, with respect to any matter whatsoever. In addition to the waivers set forth aboveherein, if now or hereafter Borrower is or shall become insolvent and the indebtedness Indebtedness shall not at all times until paid be fully secured by collateral pledged by BorrowerBxxxxxxx, Guarantor hereby forever waives and gives up in favor of Lender Lxxxxx and BorrowerBxxxxxxx, and Lender's Lxxxxx’s and Borrower's Bxxxxxxx’s respective successors, any claim or right to payment Guarantor may now have or hereafter have or acquire against Borrower, by subrogation or otherwise, so that at no time shall Guarantor be or become a "creditor" of Borrower within the meaning of 11 U.S.C. section 547(b), or any successor provision of the Federal bankruptcy laws. Guarantor also waives any and all rights or defenses arising by reason of (( A) any "one action" or "anti-deficiency" law or any other law which may prevent Lender from bringing any action, including a claim for deficiency, against Guarantor, before or after Lender's ’s commencement or completion of any foreclosure action, either judicially or by exercise of a power of sale; (B) any election of remedies by Lender which destroys or otherwise adversely affects Guarantor's ’s subrogation rights or Guarantor's ’s rights to proceed against Borrower for reimbursement, including without imitationlimitation, any loss of rights Guarantor may suffer by reason of any law limiting limiting, qualifying, or discharging the indebtednessIndebtedness; (C) any disability or other defense of Borrower, of any other guarantor, or of any other person, or by reason of the cessation of Borrower's ’s liability from any cause whatsoever, other than payment in full in legal tender, of the indebtednessIndebtedness; (D) any right to claim discharge of the indebtedness Indebtedness on the basis of unjustified impairment of any collateral for the indebtednessIndebtedness; (E) any statute of limitations, if at any time any action or suit brought by Lender against Guarantor is commenced, there is outstanding indebtedness Indebtedness of Borrower to Lender which is not barred by any applicable statute of limitations; or (F) any defense defenses given to guarantors at law or in equity other than actual payment and performance of the indebtedness; or (G) by any failure, neglect, or omission by Lender to perfect in any manner the collection of the indebtedness or the security given therefor, including the failure or omission to seek a deficiency judgment against BorrowerIndebtedness. If payment is made by BorrowerBxxxxxxx, whether voluntarily or otherwise, or by any third party, on the indebtedness Indebtedness and thereafter Lender Lxxxxx is forced to remit the amount of that payment to Borrower's Bxxxxxxx’s trustee in bankruptcy or to any similar person under any federal or state bankruptcy law or law for the relief of debtors, the indebtedness Indebtedness shall be considered unpaid for the purpose of the enforcement of this Guaranty. Guarantor further waives and agrees not to assert or claim at any time any deductions to the amount guaranteed under this Guaranty for any claim of setoff, counterclaim, counter demand, recoupment or similar right, whether such claim, demand or right may be asserted by the Borrower, the Guarantor, or both.

Appears in 1 contract

Samples: Commercial Guaranty (Synergetics Usa Inc)

GUARANTOR'S WAIVERS. Except as prohibited by applicable law, Guarantor waives any right to require Lender (A) to continue lending money or to extend other credit to Borrower; (B) to make any presentment, protest, demand, or notice of any kind, including notice of any nonpayment of the indebtedness Indebtedness or of any nonpayment related to any collateral, or notice of any action or nonaction nonactton on the part of Borrower, Lender, any surety, endorser, endorser or other guarantor in connection with the indebtedness Indebtedness or in connection with the creation of new or additional loans or obligations; (C) to resort for payment or to proceed directly or at once against any person, including Borrower or any other guarantor; (D) to proceed directly against or exhaust any collateral held by Lender Xxxxxx from Borrower, any other guarantor, or any other person; (E) to give notice of the terms, time, and place of any public or private sale of personal property security held by Lender Xxxxxx from Borrower or to comply with any other applicable provisions of the Uniform Commercial Code; (F) to pursue any other remedy with within Lender's power; or (G) to commit any act or omission of any kind, or at any time, with respect to any matter whatsoever. In addition to the waivers set forth aboveherein, if now or hereafter Borrower is or shall become insolvent and the indebtedness Indebtedness shall not at all times until paid be fully secured by collateral pledged by BorrowerXxxxxxxx, Guarantor hereby forever waives and gives up in favor of Lender Xxxxxx and BorrowerXxxxxxxx, and LenderXxxxxx's and BorrowerXxxxxxxx's respective successors, any claim or right to payment Guarantor may now have or hereafter have or acquire against Borrower, Borrower by subrogation or otherwise, so that at no time shall Guarantor be or become a "creditor" of Borrower within the meaning of 11 U.S.C. U.8.C. section 547(b), ) or any successor provision of the Federal bankruptcy laws. Guarantor also waives any and all rights or defenses arising by reason of (A) any "one action" or "anti-deficiency" law or any other law which may prevent Lender from bringing any action, including a claim for deficiency, against Guarantor, before or after LenderXxxxxx's commencement or completion of any foreclosure action, either judicially or by exercise of a power of sale; (B) any election of remedies by Lender which destroys or otherwise adversely affects Guarantor's subrogation rights or Guarantor's rights to proceed against Borrower for reimbursement, including without imitationlimitation, any loss of rights Guarantor may suffer by reason of any law limiting limiting, qualifying, or discharging the indebtedness; Indebtedness: (C) any disability or other defense of Borrower, of any other guarantor, or of any other person, or by reason of the cessation of Borrower's liability from any cause whatsoever, other than payment in -------------------------------------------------------------------------------- COMMERCIAL GUARANTY Loan No: 4971209712 (Continued) Pag* 2 -------------------------------------------------------------------------------- full in legal tender, of the indebtednessIndebtedness; (D) any right to claim discharge of the indebtedness Indebtedness on the basis of unjustified impairment of any collateral for the indebtednessIndebtedness; (E) any statute of limitations, if at any time any action or suit brought by Lender against Guarantor is commenced, there is outstanding indebtedness Indebtedness of Borrower to Lender which is not barred by any applicable statute of limitations; or (F) any defense defenses given to guarantors at law or in equity other than actual payment and performance of the indebtedness; or (G) by any failure, neglect, or omission by Lender to perfect in any manner the collection of the indebtedness or the security given therefor, including the failure or omission to seek a deficiency judgment against BorrowerIndebtedness. If payment is made by BorrowerXxxxxxxx, whether voluntarily or otherwise, or by any third party, on the indebtedness Indebtedness and thereafter Lender Xxxxxx is forced to remit the amount of that payment to BorrowerXxxxxxxx's trustee in bankruptcy or to any similar person under any federal or state bankruptcy law or law for the relief of debtors, the indebtedness Indebtedness shall be considered unpaid for the purpose of the enforcement of this Guaranty. In addition to the waivers set forth above, Guarantor expressly waives, to the extent permitted by Arizona law, all of Guarantor's rights under sections 12-1641, 12-1842, 12-1643, 12-1644, 44-142, and 47-3606 of the Arizona Revised Statutes, and Rule 17f of the Arizona Revised Statutes Rules of Civil Procedure. Guarantor further waives and agrees not to assert or claim at any time any deductions to the amount guaranteed under this Guaranty for any claim of setoff, counterclaim, counter demand, recoupment or similar right, whether such claim, demand or right may be asserted by the Borrower, the Guarantor, or both.

Appears in 1 contract

Samples: Commercial Guaranty (Us Global Aerospace Inc)

GUARANTOR'S WAIVERS. Except as prohibited by applicable law, Guarantor waives any right to require Lender (A) to continue lending money or to extend other credit to Borrower; (B) to make any presentment, protest, demand, or notice of any kind, including notice of any nonpayment of the indebtedness or of any nonpayment related to any collateral, or notice of any action or nonaction on the part of Borrower, Lender, any surety, endorser, or other guarantor in connection with the indebtedness or in connection with the creation of new or additional loans or obligations; (C) to resort for payment or to proceed directly or at once against any person, including Borrower or any other guarantor; (D) to proceed directly against or exhaust any collateral held by Lender from Borrower, any other guarantor, or any other person; (E) to give notice of the terms, time, and place of any public or private sale of personal property security held by Lender from Borrower or to comply with any other applicable provisions of the Uniform Commercial Code; (F) to pursue any other remedy with within Lender's power; or (G) to commit any act or of omission of any kind, or at any time, with respect to any matter whatsoever. In addition to the waivers set forth above, if now or hereafter Borrower is or shall become insolvent and the indebtedness shall not at all times until paid be fully secured by collateral pledged by Borrower, Guarantor hereby forever waives and gives up in favor of Lender and Borrower, and Lender's and Borrower's respective receptive successors, any claim or right to payment Guarantor may now have or hereafter have or acquire against Borrower, by subrogation or otherwise, so that at no time shall Guarantor be or become a "creditor" of Borrower within the meaning of 11 U.S.C. section 547(b547 (b), or any successor provision of the Federal bankruptcy laws. Guarantor also waives any and all rights or defenses arising by reason of (A) any "one action" or "anti-deficiency" law or any other law which may prevent Lender from bringing any action, including a claim for deficiency, against Guarantor, before or after Lender's commencement or completion of any foreclosure action, either judicially or by exercise of a power of sale; (B) any election of remedies by Lender which destroys or otherwise adversely affects Guarantor's subrogation rights or Guarantor's rights to proceed against Borrower for reimbursement, including without imitationlimitation, any loss of rights Guarantor may suffer by reason of any law limiting limiting, qualifying, or discharging the indebtedness; (C) any disability or other defense of Borrower, of any other guarantor, or of any other person, or by reason of the cessation of Borrower's liability from any cause whatsoever, other than payment in full in legal tender, of the indebtedness; (D) any right to claim discharge of the indebtedness on the basis of impairment of any collateral for the indebtedness; (E) any statute of limitations, if at any time any action or suit brought by Lender against Guarantor is commenced, there is outstanding indebtedness of Borrower to Lender which is not barred by any applicable statute of limitations; (F) any defense given to guarantors at law or in equity other than actual payment and performance of the indebtedness; or (G) by any failure, neglect, or omission by Lender to perfect in any manner the collection of the indebtedness or the security given therefor, including the failure or omission to seek a deficiency judgment against Borrower. If payment is made by Borrower, whether voluntarily or otherwise, or by any third party, on the indebtedness and thereafter Lender is forced to remit the amount of that payment to Borrower's trustee in bankruptcy or to any similar person under any federal or state bankruptcy law for the relief of debtors, the indebtedness shall be considered unpaid for the purpose of the enforcement of this Guaranty. Guarantor further waives and agrees not to assert or claim at any time any deductions to the amount guaranteed under this Guaranty for any claim of setoff, counterclaim, counter demand, recoupment or similar right, whether such claim, demand or right may be asserted by the Borrower, the Guarantor, or both.any

Appears in 1 contract

Samples: Commercial Guaranty (Lindseth Jon A)

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