Common use of Intent of Waivers Clause in Contracts

Intent of Waivers. The waivers and other provisions of this Article 15 are made by the Secondary Obligor solely for itself and not on behalf of the Primary Obligor. Furthermore, the waivers and other provisions of this Article 15 are made by the Secondary Obligor solely in its capacity as a Secondary Obligor and not in its capacity as a Primary Obligor. Nothing herein is intended to, or shall, modify, or constitute a waiver or surrender by the Secondary Obligor of, any right, remedy or defense that would otherwise be available to the Secondary Obligor on account of its Obligations in its capacity as a Primary Obligor.

Intent of Waivers. The waivers and other provisions of this Article 15 XI are made by the each Secondary Obligor solely for itself and not on behalf of the any Primary Obligor. Furthermore, the waivers and other provisions of this Article 15 XI are made by the each Secondary Obligor solely in its capacity as a Secondary Obligor and not in its capacity as a Primary Obligor. Nothing herein is intended to, or shall, modify, or constitute a waiver or surrender by the Secondary Obligor of, any right, remedy or defense that would otherwise be available to the Secondary Obligor on account of its Obligations in its capacity as a Primary Obligor.