Common use of Impairment of Subrogation Rights; Waivers of Rights Under the Anti-Deficiency Rules Clause in Contracts

Impairment of Subrogation Rights; Waivers of Rights Under the Anti-Deficiency Rules. (a) Guarantor agrees that upon an Event of Default under the Loan Documents, Lender may elect to foreclose either nonjudicially or judicially against any real or personal property security (including, without limitation, the Mortgaged Property) it holds for the obligations evidenced by the Note or any Guaranteed Obligations, or any part thereof, or accept an assignment of any such security in lieu of foreclosure, or compromise or adjust any part of such obligations, or make any other accommodation with Borrower or Guarantor, or exercise any other remedy against Borrower or any collateral or security. No such action by Lender will release or limit the liability of Guarantor to Lender, who shall remain liable under this Guaranty after the action, even if the effect of that action is to deprive Guarantor of the right to collect reimbursement from Borrower or any other person for any sums paid to Lender or Guarantor’s rights of subrogation, contribution, or indemnity against Borrower or any other person. Without limiting the foregoing, it is understood and agreed that on any foreclosure or assignment in lieu of foreclosure of any collateral or security held by Lender, such security will no longer exist and that any right that Guarantor might otherwise have, on full payment of the Guaranteed Obligations by Guarantor to Lender, to participate in any such security or to be subrogated to any rights of Lender with respect to any such security will be nonexistent; nor shall Guarantor be deemed to have any right, title, interest or claim under any circumstances in or to any real or personal property held by Lender or any third party following any foreclosure or assignment in lieu of foreclosure of any such security.

Impairment of Subrogation Rights; Waivers of Rights Under the Anti-Deficiency Rules. (a) Guarantor agrees that upon the occurrence and during the continuance of an Event of Default under the Loan Documents, Lender in its sole discretion, without prior notice to or consent of Guarantor, may elect to (i) foreclose either nonjudicially or judicially against any real or personal property security (including, without limitation, the Mortgaged Property) it holds for the obligations evidenced by the Note or any Guaranteed Obligations, or any part thereof, (ii) accept any transfer or accept an assignment of any such security in lieu of foreclosure, or (iii) compromise or adjust any part of such obligations, or (iv) make any other accommodation with Borrower or Guarantor, or exercise any other remedy against Borrower or any collateral or security. No such action by Lender will release or limit the liability of Guarantor to Lender, who shall remain liable under this Guaranty after the action, even if the effect of that action is to deprive Guarantor of the right to collect reimbursement from Borrower or any other person for any sums paid to Lender or Guarantor’s rights of subrogation, contribution, or indemnity against Borrower or any other person. Without limiting the foregoing, it is understood and agreed that on any foreclosure or assignment in lieu of foreclosure of any collateral or security held by Lender, such security will no longer exist and that any right that Guarantor might otherwise have, on full payment of the Guaranteed Obligations by Guarantor to Lender, to participate in any such security or to be subrogated to any rights of Lender with respect to any such security will be nonexistent; nor shall Guarantor be deemed to have any right, title, interest or claim under any circumstances in or to any real or personal property held by Lender or any third party following any foreclosure or assignment in lieu of foreclosure of any such security.

Impairment of Subrogation Rights; Waivers of Rights Under the Anti-Deficiency Rules. (a) Guarantor agrees that upon an Event of Default under the Loan Documents, Lender may elect to foreclose either nonjudicially non-judicially or judicially against any real or personal property security (including, without limitation, the Mortgaged PropertyCollateral) it holds for the obligations evidenced by the Note or any Guaranteed Secured Obligations, or any part thereof, or accept an assignment of any such security in lieu of foreclosure, or compromise or adjust any part of such obligations, or make any other accommodation with Borrower or Guarantorthe Borrowers, or exercise any other remedy against Borrower Borrowers or any collateral or security. No such action by any Lender will release or limit the liability of Guarantor to Lenderthe Lenders, who shall remain liable under this Guaranty Guarantee after the action, even if the effect of that action is to deprive Guarantor of the right to collect reimbursement from Borrower Borrowers or any other person for any sums paid to Lender or Guarantor’s rights of subrogation, contribution, contribution or indemnity against Borrower Borrowers or any other person. Without limiting the foregoing, it is understood and agreed that on any foreclosure or assignment in lieu of foreclosure of any collateral or security held by Lenderthe Lenders, such security will no longer exist and that any right that Guarantor might otherwise have, on full payment of the Guaranteed Secured Obligations by Guarantor to Lenderthe Lenders, to participate in any such security or to be subrogated to any rights of Lender the Lenders with respect to any such security will be nonexistent; nor shall Guarantor be deemed to have any right, title, interest or claim under any circumstances in or to any real or personal property held by any Lender or any third party following any foreclosure or assignment in lieu of foreclosure of any such security.

Impairment of Subrogation Rights; Waivers of Rights Under the Anti-Deficiency Rules. (a) Guarantor agrees that upon the occurrence and during the continuance of an Event of Default under the Loan Documents, Lender in its sole discretion, without prior notice to or consent of Guarantor, may elect to (i) foreclose either nonjudicially or judicially against any real or personal property security (including, without limitation, the Mortgaged Property) it holds for the obligations evidenced by the Note or any Guaranteed Obligations, or any part thereof, (ii) accept any transfer or accept an assignment of any such security in lieu of foreclosure, or (iii) compromise or adjust any part of such obligations, or (iv) make any other accommodation with Borrower or Guarantor, or exercise any other remedy against Borrower or any collateral or security. No such action by Lender will release or limit the liability of Guarantor to Lender, who shall remain liable under this Guaranty after the action, even if the effect of that action is to deprive Guarantor of the right to collect reimbursement from Borrower or any other person for any sums paid to Lender or Guarantor’s 's rights of subrogation, contribution, or indemnity against Borrower or any other person. Without limiting the foregoing, it is understood and agreed that on any foreclosure or assignment in lieu of foreclosure of any collateral or security held by Lender, such security will no longer exist and that any right that Guarantor might otherwise have, on full payment of the Guaranteed Obligations by Guarantor to Lender, to participate in any such security or to be subrogated to any rights of Lender with respect to any such security will be nonexistent; nor shall Guarantor be deemed to have any right, title, interest or claim under any circumstances in or to any real or personal property held by Lender or any third party following any foreclosure or assignment in lieu of foreclosure of any such security.

Impairment of Subrogation Rights; Waivers of Rights Under the Anti-Deficiency Rules. (a) Guarantor agrees that upon the occurrence and during the continuance of an Event of Default under the Loan Documents, the Lender in its sole discretion, without prior notice to or consent of Guarantor, may elect to (i) foreclose either nonjudicially or judicially against any real or personal property security (including, without limitation, the Mortgaged Property) it holds for the obligations evidenced by the Note or any Guaranteed Obligations, or any part thereof, (ii) accept any transfer or accept an assignment of any such security in lieu of foreclosure, or (iii) compromise or adjust any part of such obligations, or (iv) make any other accommodation with Borrower or Guarantor, or exercise any other remedy against Borrower or any collateral or security. No such action by the Lender will release or limit the liability of Guarantor to the Lender, who shall remain liable under this Guaranty after the action, even if the effect of that action is to deprive Guarantor of the right to collect reimbursement from Borrower or any other person for any sums paid to the Lender or Guarantor’s rights of subrogation, contribution, or indemnity against Borrower or any other person. Without limiting the foregoing, it is understood and agreed that on any foreclosure or assignment in lieu of foreclosure of any collateral or security held by the Lender, such security will no longer exist and that any right that Guarantor might otherwise have, on full payment of the Guaranteed Obligations by Guarantor to the Lender, to participate in any such security or to be subrogated to any rights of the Lender with respect to any such security will be nonexistent; nor shall Guarantor be deemed to have any right, title, interest or claim under any circumstances in or to any real or personal property held by the Lender or any third party following any foreclosure or assignment in lieu of foreclosure of any such security.

Impairment of Subrogation Rights; Waivers of Rights Under the Anti-Deficiency Rules. (a) Guarantor agrees that upon an Event of Default under the Loan Transaction Documents, Lender may elect to foreclose either nonjudicially or judicially against any real or personal property Collateral or security (including, without limitation, the Mortgaged Property) it holds for the obligations Indebtedness and Obligations evidenced by the Note or any Guaranteed Obligations, or any part thereof, or accept an assignment of any such Collateral or security in lieu of foreclosure, or compromise or adjust any part of such obligationsObligations, or make any other accommodation with Borrower or Guarantor, or exercise any other remedy against Borrower or any collateral Collateral or security. No such action by Lender will release or limit the liability of Guarantor to Lender, who and Guarantor shall remain liable under this Guaranty after the action, even if the effect of that action is to deprive Guarantor of the right to collect reimbursement from Borrower or any other person for any sums paid to Lender or Guarantor’s rights of subrogation, contribution, or indemnity against Borrower or any other person. Without limiting the foregoing, it is understood and agreed that on any foreclosure or assignment in lieu of foreclosure of any collateral Collateral or security held by Lender, such Collateral or security will no longer exist and that any right that Guarantor might otherwise have, on full payment of the Guaranteed Obligations by Guarantor to Lender, to participate in any such Collateral or security or to be subrogated to any rights of Lender with respect to any such Collateral or security will be nonexistent; nor shall Guarantor be deemed to have any right, title, interest or claim under any circumstances in or to any real or personal property held by Lender or any third party following any foreclosure or assignment in lieu of foreclosure of any such Collateral or security.