Common use of Liens on Real Property Clause in Contracts

Liens on Real Property. In the event that all or any part of the Guarantied Obligations at any time are secured by any one or more deeds of trust or mortgages or other instruments creating or granting Liens on any interests in real Property, each Guarantor authorizes Secured Party, upon the occurrence of and during the continuance of any Event of Default and subject to compliance with the requirements of any applicable Gaming Laws, at its sole option, without notice or demand and without affecting any Guarantied Obligations of any Guarantor, the enforceability of this Guaranty, or the validity or enforceability of any Liens of Secured Party on any Collateral, to foreclose any or all of such deeds of trust or mortgages or other instruments by judicial or nonjudicial sale. To the extent permitted by applicable Laws, each Guarantor expressly waives any right to receive notice of any judicial or nonjudicial foreclosure or sale of any real Property or interest therein subject to any such deeds of trust or mortgages or other instruments and any Guarantor’s or any other Person’s failure to receive any such notice shall not impair or affect Guarantors’ Obligations or the enforceability of this Guaranty or any rights of Secured Party created or granted hereby. Each Guarantor expressly waives any defenses or benefits that may be derived from California Code of Civil Procedure §§ 580a, 580b, 580d or 726, NRS Section 40.430 and judicial decisions relating thereto, and NRS Sections 40.451, 40.455, 40.457 and 40.459, or comparable provisions of the Laws of any other jurisdiction, and all other similar defenses it otherwise might or would have under California Law or other applicable Law. Without limiting the foregoing, each Guarantor waives all rights and defenses that it may have because any of the Guarantied Obligations of any other Party are secured by real property. This means, among other things: (1) Secured Party may collect from such Guarantor without first foreclosing on any real or personal property collateral pledged by any other Party, (2) If Secured Party forecloses on any real property collateral pledged by any other Party: (A) The amount of the debt may be reduced only by the price for which that collateral is sold at the foreclosure sale, even if the collateral is worth more than the sale price, (B) Secured Party may collect from such Guarantor even if Secured Party, by foreclosing on the real property collateral, has destroyed any right such Guarantor may have to collect from such other Party. This is an unconditional and irrevocable waiver of any rights and defenses any Guarantor may have because any such other Party’s debt is secured by real property.

Liens on Real Property. In the event that all or any part of the Guarantied Obligations at any time are secured by any one or more deeds of trust or mortgages or other instruments creating or granting Liens on any interests in real Propertyproperty, each Guarantor Grantor authorizes Secured Party, upon the occurrence of and during the continuance of any Event of Default and subject to compliance with the requirements of any applicable Gaming LawsDefault, at its sole option, without notice or demand and without affecting any Guarantied Obligations of any GuarantorObligations, the enforceability of this GuarantyAgreement, or the validity or enforceability of any Liens of any Secured Party on any Collateralcollateral, to foreclose any or all of such deeds of trust or mortgages or other instruments by judicial or nonjudicial sale. To Insofar as the extent permitted Liens created herein secure the obligations of other Persons, (i) each Grantor expressly waives any defenses to the enforcement of this Agreement or any Liens created or granted hereby or to the recovery by Secured Party against the Borrowers or any other Person liable therefor of any deficiency after a judicial or nonjudicial foreclosure or sale, even though such a foreclosure or sale may impair the subrogation rights of such Grantor and may preclude such Grantor from obtaining reimbursement or contribution from any other Person and (ii) each Grantor expressly waives any defenses or benefits that may be derived from California Code of Civil Procedure - 580a, 580b, 580d or 726, or comparable provisions of the Laws of any other jurisdiction and all other suretyship defenses it otherwise might or would have under California Law or other applicable Laws, each Guarantor Law. Each Grantor expressly waives any right to receive notice of any judicial or nonjudicial foreclosure or sale of any real Property property or interest therein subject to any such deeds of trust or mortgages or other instruments and any Guarantor’s or any other Person’s such Grantor's failure to receive any such notice shall not impair or affect Guarantors’ Obligations such Grantor's obligations hereunder or the enforceability of this Guaranty Agreement or any rights of Secured Party Liens created or granted hereby. Each Guarantor expressly waives any defenses or benefits that may be derived from California Code of Civil Procedure §§ 580a, 580b, 580d or 726, NRS Section 40.430 and judicial decisions relating thereto, and NRS Sections 40.451, 40.455, 40.457 and 40.459, or comparable provisions of the Laws of any other jurisdiction, and all other similar defenses it otherwise might or would have under California Law or other applicable Law. Without limiting the foregoing, each Guarantor waives all rights and defenses that it may have because any of the Guarantied Obligations of any other Party are secured by real property. This means, among other things: (1) Secured Party may collect from such Guarantor without first foreclosing on any real or personal property collateral pledged by any other Party, (2) If Secured Party forecloses on any real property collateral pledged by any other Party: (A) The amount of the debt may be reduced only by the price for which that collateral is sold at the foreclosure sale, even if the collateral is worth more than the sale price, (B) Secured Party may collect from such Guarantor even if Secured Party, by foreclosing on the real property collateral, has destroyed any right such Guarantor may have to collect from such other Party. This is an unconditional and irrevocable waiver of any rights and defenses any Guarantor may have because any such other Party’s debt is secured by real property.

Liens on Real Property. In the event that all or any part of the Guarantied Obligations at any time are secured by any one or more deeds of trust or mortgages or other instruments creating or granting Liens on any interests in real Property, each Guarantor authorizes Secured Party, upon the occurrence of and during the continuance of any Event of Default and subject to compliance with the requirements of any applicable Gaming Laws, at its sole option, without notice or demand and without affecting any Guarantied Obligations of any Guarantor, the enforceability of this Guaranty, or the validity or enforceability of any Liens of Secured Party on any Collateral, to foreclose any or all of such deeds of trust or mortgages or other instruments by judicial or nonjudicial sale. To the extent permitted by applicable Laws, each Guarantor expressly waives any right to receive notice of any judicial or nonjudicial foreclosure or sale of any real Property or interest therein subject to any such deeds of trust or mortgages or other instruments and any Guarantor’s or any other Person’s failure to receive any such notice shall not impair or affect Guarantors’ Obligations or the enforceability of this Guaranty or any rights of Secured Party created or granted hereby. Each Guarantor expressly waives any defenses or benefits that may be derived from California Code of Civil Procedure §§ 580a, 580b, 580d or 726, NRS Section 40.430 and judicial decisions relating thereto, and NRS Sections 40.451, 40.455, 40.457 and 40.459, or comparable provisions of the Laws of any other jurisdiction, and all other similar defenses it otherwise might or would have under California Law or other applicable Law. Without limiting the foregoing, each Guarantor waives all rights and defenses that it may have because any of the Guarantied Obligations of any other Party party are secured by real property. This means, among other things: (1) Secured Party may collect from such Guarantor without first foreclosing on any real or personal property collateral pledged by any other Partyparty, (2) If if Secured Party forecloses on any real property collateral pledged by any other Partyparty: (A) The the amount of the debt may be reduced only by the price for which that collateral is sold at the foreclosure sale, even if the collateral is worth more than the sale price, (B) Secured Party may collect from such Guarantor even if Secured Party, by foreclosing on the real property collateral, has destroyed any right such Guarantor may have to collect from such other Partyparty. This is an unconditional and irrevocable waiver of any rights and defenses any Guarantor may have because any such other Partyparty’s debt is secured by real property.

Liens on Real Property. In the event that all or any part of the Guarantied Obligations at any time are secured by any one or more deeds of trust or mortgages or other instruments creating or granting Liens on any interests in real Propertyproperty, each Guarantor Grantor authorizes Secured Party, upon the occurrence of and during the continuance of any Event of Default and subject to compliance with the requirements of any applicable Gaming LawsDefault, at its sole option, without notice or demand and without affecting any Guarantied Obligations of any GuarantorObligations, the enforceability of this GuarantyAgreement, or the validity or enforceability of any Liens of any Secured Party on any Collateralcollateral, to foreclose any or all of such deeds of trust or mortgages or other instruments by judicial or nonjudicial sale. To the extent permitted by applicable Laws, each Guarantor Each Grantor expressly waives any right to receive notice of any judicial or nonjudicial foreclosure or sale of any real Property property or interest therein subject to any such deeds of trust or mortgages or other instruments and any Guarantor’s or any other Personsuch Grantor’s failure to receive any such notice shall not impair or affect Guarantors’ Obligations such Grantor’s obligations hereunder or the enforceability of this Guaranty Agreement or any rights of Secured Party Liens created or granted hereby. Each Guarantor Insofar as the Liens created herein secure the obligations of other Persons, (i) each Grantor expressly waives any defenses or benefits that may be derived from California Code of Civil Procedure §§ 580a, 580b, 580d or 726, NRS Section 40.430 and judicial decisions relating thereto, and NRS Sections 40.451, 40.455, 40.457 and 40.459, or comparable provisions of the Laws of any other jurisdiction, including, without limitation, NRS Section 40.430 and judicial decisions relating thereto, NRS Sections 40.451, 40.455, 40.457 and 40.459, and all other similar suretyship defenses it otherwise might or would have under California Law or other applicable Law. Without ; and (ii) without limiting the foregoing, each Guarantor Grantor waives all rights and defenses that it may have because any of the Guarantied Obligations of any other Party are Xxxxxxxx’s debt is secured by real property. This means, among other things: (1) Secured Party may collect from such Guarantor Grantor without first foreclosing on any real or personal property collateral pledged by any other Party, (2) If Secured Party forecloses on any real property collateral pledged by any other Party: (A) The amount of the debt may be reduced only by the price for which that collateral is sold at the foreclosure sale, even if the collateral is worth more than the sale price, (B) Secured Party may collect from such Guarantor even if Secured Party, by foreclosing on the real property collateral, has destroyed any right such Guarantor may have to collect from such other Party. This is an unconditional and irrevocable waiver of any rights and defenses any Guarantor may have because any such other Party’s debt is secured by real propertyBorrower.

Liens on Real Property. In the event that all or any part of the Guarantied Obligations at any time are secured by any one or more deeds of trust or mortgages or other instruments creating or granting Liens on any interests in real Property, each Guarantor authorizes Secured Party, upon the occurrence of and during the continuance of any Event of Default and subject to compliance with the requirements of any applicable Gaming Laws, at its sole option, without notice or demand and without affecting any Guarantied Obligations of any Guarantor, the enforceability of this Guaranty, or the validity or enforceability of any Liens of Secured Party on any Collateral, to foreclose any or all of such deeds of trust or mortgages or other instruments by judicial or nonjudicial sale. To the extent permitted by applicable Laws, each Guarantor expressly waives any right to receive notice of any judicial or nonjudicial foreclosure or sale of any real Property or interest therein subject to any such deeds of trust or mortgages or other instruments and any Guarantor’s or any other Person’s failure to receive any such notice shall not impair or affect Guarantors’ Obligations or the enforceability of this Guaranty or any rights of Secured Party created or granted hereby. Each Guarantor expressly waives any defenses or benefits that may be derived from California Code of Civil Procedure §§ 580a, 580b, 580d or 726, NRS Section 40.430 and judicial decisions relating thereto, and NRS Sections 40.451, 40.455, 40.457 and 40.459, or comparable provisions of the Laws of any other jurisdiction, and all other similar defenses it otherwise might or would have under California Law or other applicable Law. Without limiting the foregoing, each Guarantor waives all rights and defenses that it may have because any of the Guarantied Obligations of any other Party party are secured by real property. This means, among other things: (1) Secured Party may collect from such Guarantor without first foreclosing on any real or personal property collateral pledged by any other Partyparty, (2) If Secured Party forecloses on any real property collateral pledged by any other Partyparty: (A) The amount of the debt may be reduced only by the price for which that collateral is sold at the foreclosure sale, even if the collateral is worth more than the sale price, (B) Secured Party may collect from such Guarantor even if Secured Party, by foreclosing on the real property collateral, has destroyed any right such Guarantor may have to collect from such other Partyparty. This is an unconditional and irrevocable waiver of any rights and defenses any Guarantor may have because any such other Partyparty’s debt is secured by real property.