Common use of Guaranty Independent; Waivers Clause in Contracts

Guaranty Independent; Waivers. (a) Guarantor agrees that (i) the obligations hereunder are independent of and in addition to the undertakings of the Borrower pursuant to the Loan Documents, any evidence of indebtedness issued in connection therewith, any mortgage or security agreement given to secure the same, any other guaranties given in connection with the Loan and any other obligations of Guarantor to Lender, (ii) a separate action may be brought to enforce the provisions hereof whether any Borrower is a party in any such action or not, (iii) Lender may at any time, or from time to time, in its sole discretion (A) extend or change the time of payment and/or performance and/or the manner, place or terms of payment and/or performance of all or any of the Guaranteed Liabilities; (B) exchange, release and/or surrender all or any of the collateral security, or any part thereof, by whomsoever deposited, which is now or may hereafter be held by Lender in connection with all or any of the Guaranteed Liabilities; (C) sell and/or purchase all or any such collateral at public or private sale, or at any broker’s board, in the manner permitted by law and after giving any notice which may be required, and after deducting all actual out of pocket costs and expenses of every kind for collection, sale or delivery, the net proceeds of any such sale may be applied by Lender upon all or any of the Guaranteed Liabilities to the extent of such Guaranteed Liabilities; and (D) settle or compromise with the Borrower, and/or any other person liable thereon, any and all of the Guaranteed Liabilities, and/or subordinate the payment of same, or any part thereof, to the payment of any other debts or claims, which may at any time be due or owing to Lender and/or any other person or corporation, and (iv) Lender shall be under no obligation to marshal any assets in favor of Guarantor or in payment of any or all of the Guaranteed Liabilities.

Guaranty Independent; Waivers. (a) a. The Guarantor agrees that (i) the obligations hereunder are independent of and in addition to the undertakings of the AD&C Borrower and the Guarantor, as and to the extent applicable, pursuant to the Hazardous Substances, Remediation and Indemnification Agreement and the other AD&C Loan Documents, any evidence of indebtedness issued in connection therewith, any mortgage deed of trust or security agreement given to secure the same, any other guaranties given in connection with the AD&C Loan and any other obligations of the Guarantor to the Lender, (ii) a separate action may be brought to enforce the provisions hereof whether any the AD&C Borrower is a party in any such action or not, (iii) the Lender may at any time, or from time to time, in its sole discretion discretion, without any notice to or consent from the Guarantor, (A) modify the Hazardous Substances, Remediation and Indemnification Agreement and the other AD&C Loan Documents to extend or change the time of payment and/or performance and/or the manner, place or terms of payment and/or performance of all or any of the Guaranteed LiabilitiesIndebtedness, and/or to include additional Projects, AD&C Borrowers and/or Project Owners; (B) exchange, release or compromise any of the Indebtedness; (C) exchange, release and/or surrender all or any of the collateral security, or any part thereof, by whomsoever deposited, which is now or may hereafter be held by the Lender in connection with all or any of the Guaranteed LiabilitiesIndebtedness; (CD) if and as permitted by the AD&C Loan Documents, sell and/or purchase all or any such collateral at public or private sale, or at any broker’s 's board, in the manner permitted by law and after giving any notice which may be required, and after deducting all actual out of pocket costs and expenses of every kind for collection, sale or delivery, the net proceeds of any such sale may be applied by the Lender upon all or any of the Guaranteed Liabilities to the extent of such Guaranteed LiabilitiesIndebtedness; and (DE) settle or compromise with the AD&C Borrower, and/or any other person liable thereon, any and all of the Guaranteed LiabilitiesIndebtedness, and/or subordinate the payment of same, or any part thereof, to the payment of any other debts or claims, which may at any time be due or owing to the Lender and/or any other person or corporation, and (iv) the Lender shall be under no obligation to marshal any assets in favor of the Guarantor or in payment of the Indebtedness. The Guarantor agrees that the Lender may without notice to the Guarantor sell, assign, or transfer all or any or all portion of the Guaranteed Liabilitiesindebtedness, obligations, and liabilities of the AD&C Borrower, and, in that event, each and every successive assignee, transferee, or holder of all or any part of said indebtedness, obligations, or liabilities shall have the right to enforce this Guaranty by suit or other remedy as fully as if such assignee, transferee, or holder were herein by name specifically given such rights, powers, and benefits; provided, however, that the Lender shall have an unimpaired right to enforce this Guaranty for any of its liabilities that it has not sold, assigned, or transferred.

Guaranty Independent; Waivers. (a) a. The Guarantor agrees that (i) the obligations hereunder are independent of and in addition to the undertakings of the Borrower and the Guarantor, as and to the extent applicable, pursuant to the Hazardous Substances, Remediation and Indemnification Agreement and the other Loan Documents, any evidence of indebtedness issued in connection therewith, any mortgage deed of trust or security agreement given to secure the same, any other guaranties given in connection with the Loan and any other obligations of the Guarantor to the Lender, (ii) a separate action may be brought to enforce the provisions hereof whether any the Borrower is a party in any such action or not, (iii) the Lender may at any time, or from time to time, in its sole discretion discretion, without any notice to or consent from the Guarantor, (A) modify the Hazardous Substances, Remediation and Indemnification Agreement and the other Loan Documents to extend or change the time of payment and/or performance and/or the manner, place or terms of payment and/or performance of all or any of the Guaranteed LiabilitiesIndebtedness, and/or to include additional Projects, Borrowers and/or Project Owners; (B) exchange, release or compromise any of the Indebtedness; (C) exchange, release and/or surrender all or any of the collateral security, or any part thereof, by whomsoever deposited, which is now or may hereafter be held by the Lender in connection with all or any of the Guaranteed LiabilitiesIndebtedness; (CD) if and as permitted by the Loan Documents, sell and/or purchase all or any such collateral at public or private sale, or at any broker’s 's board, in the manner permitted by law and after giving any notice which may be required, and after deducting all actual out of pocket costs and expenses of every kind for collection, sale or delivery, the net proceeds of any such sale may be applied by the Lender upon all or any of the Guaranteed Liabilities to the extent of such Guaranteed LiabilitiesIndebtedness; and (DE) settle or compromise with the Borrower, and/or any other person liable thereon, any and all of the Guaranteed LiabilitiesIndebtedness, and/or subordinate the payment of same, or any part thereof, to the payment of any other debts or claims, which may at any time be due or owing to the Lender and/or any other person or corporation, and (iv) the Lender shall be under no obligation to marshal any assets in favor of the Guarantor or in payment of the Indebtedness. The Guarantor agrees that the Lender may without notice to the Guarantor sell, assign, or transfer all or any or all portion of the Guaranteed Liabilitiesindebtedness, obligations, and liabilities of the Borrower, and, in that event, each and every successive assignee, transferee, or holder of all or any part of said indebtedness, obligations, or liabilities shall have the right to enforce this Guaranty by suit or other remedy as fully as if such assignee, transferee, or holder were herein by name specifically given such rights, powers, and benefits; provided, however, that the Lender shall have an unimpaired right to enforce this Guaranty for any of its liabilities that it has not sold, assigned, or transferred.