Lessor’s Right to Amend; Assignment of Lessor’s Rights in Guaranty Sample Clauses
This clause grants the lessor the authority to modify the terms of the lease or to transfer their rights under a guaranty to another party. In practice, this means the lessor can make changes to the agreement, such as updating payment terms or other conditions, and can assign their rights to receive payments or enforce obligations under a guaranty to a third party, such as a lender or successor. The core function of this clause is to provide the lessor with flexibility in managing the lease and associated guarantees, ensuring they can adapt to changing circumstances or facilitate transactions like sales or financing.
Lessor’s Right to Amend; Assignment of Lessor’s Rights in Guaranty. The Guarantor authorizes the Lessor, at any time and from time to time without notice and without affecting the liability of the Guarantor under this Guaranty, to: (a) accept new or additional instruments, documents, agreements, security or guaranties in connection with all or any part of the Guaranteed Obligations; (b) accept partial payments on the Guaranteed Obligations; (c) release any Lessee, any guarantor or any other Person from any personal liability with respect to all or any part of the Guaranteed Obligations; and (d) assign its rights under this Guaranty in whole or in part to the Collateral Agent and the Trustee.
Lessor’s Right to Amend; Assignment of Lessor’s Rights in Guaranty. 30 11.4. Waiver of Certain Rights by Guarantor 30 11.5. Guarantor to Pay Lessor’s Expenses 31 11.6. Reinstatement 31 11.7. Third-Party Beneficiaries 31 12. ADDITIONAL ▇▇▇▇▇▇▇ ▇▇ ▇▇. LIENS AND ASSIGNMENTS 33 13.1. Rights of Lessor Assigned to Trustee 33 13.2. Right of the Lessor to Assign this Agreement 33 13.3. Limitations on the Right of the Lessees to Assign this Agreement 33 13.4. Liens 34 14. NON-LIABILITY OF LESSOR 34 15. NO ▇▇▇▇▇▇▇▇ ▇▇ ▇▇. SUBMISSION TO JURISDICTION 35 17. GOVERNING LAW 35 18. JURY TRIAL 35 19. NOTICES 36 20. ENTIRE AGREEMENT 36 21. MODIFICATION AND SEVERABILITY 37 22. SURVIVABILITY 37 23. HEADINGS 37 WEIL:\95390749\1\99910.6247 24. EXECUTION IN COUNTERPARTS 37 25. ELECTRONIC EXECUTION 37 26. LESSEE TERMINATION AND RESIGNATION 37 27. THIRD-PARTY BENEFICIARIES 38 Annex A--Form of Affiliate Joinder Exhibit A Form of Lease Resignation Notice WEIL:\95390749\1\99910.6247 This Third Amended and Restated Master Motor Vehicle Lease and Servicing Agreement (Group VII) (as amended, modified or supplemented from time to time in accordance with the provisions hereof, this “Agreement”), dated as of June 17, 2015, by and among: Rental Car Finance Corp., an Oklahoma corporation (“RCFC”), as lessor (in such capacity, the “Lessor”); DTG OPERATIONS, INC., an Oklahoma corporation (“DTG”), as a lessee and servicer (in such capacity, the “Servicer”);