Common use of Impairment of Collateral; Release of Liable Parties Clause in Contracts

Impairment of Collateral; Release of Liable Parties. Lender may, in its reasonable discretion, with or without notice to or consent from Guarantor, and with or without consideration, take or fail to take or delay taking any action of any type whatsoever; grant extensions, indulgences, compromises, or forbearance, or release, compromise or settle with any party therefore; or waive any default or Event of Default or fail to take any action upon the occurrence of default, an Event of Default, or upon maturity. No action which Lender shall take or fail to take in connection with the Obligations or with any Loan Documents evidencing the Obligations, or any of them, or any mortgage assignment, pledge, security interest, or lien for the payment of the Obligations to Lender, or for the performance of any Obligations or undertakings of Borrower or any co-Borrower, endorser, Guarantor or any other guarantor, nor any course of dealing with Borrower or any other person or entity, shall release, limit, reduce or waive Guarantors Obligations hereunder, affect this Guaranty in any way, or afford Guarantor any recourse against Lender. The defenses of impairment of collateral and impairment of recourse and any requirement of diligence on Lender’s part in collecting the Obligations are hereby expressly waived by Guarantor.