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 mortgage, charge or other instruments creating or granting Liens on any interests in real property or land, the Guarantor authorizes the Bank, upon the occurrence of and during the continuance of any Event of Default, at its sole option, without notice or demand and without affecting any Guarantied Obligations of the Guarantor, the enforceability of this Subsidiary Guaranty, or the validity or enforceability of any Liens of the Bank on any collateral, to foreclose or enforce any or all mortgages, charges or other instruments by judicial or nonjudicial sale or by otherwise selling the relevant real property or land under the terms of such mortgage, charge or other instrument. The Guarantor expressly waives all rights and defenses that the Guarantor may have because the obligations of the Borrower under the Loan Documents to which it is a party are secured by real property. This means, among other things, that the Bank may collect from the Guarantor without first foreclosing on any personal or real property collateral pledged by Borrower. If the Bank forecloses or enforces on any real property collateral pledged by the Borrower, the amount of the obligations of the Borrower under the Loan Documents to which it is a party 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, and the Bank may collect from the Guarantor even if the Bank, by foreclosing on the real property collateral, has destroyed any right that the Guarantor may have to collect from the Borrower. This is an unconditional and irrevocable waiver of any rights and defenses the Guarantor may have because the obligations of the Borrower under the Loan Documents to which it is a party are secured by real property. These rights and defenses include, but are not limited to, any rights or defenses based upon Section 580a, 580b, 580d, or 726 of the California Code of Civil Procedure (and any similar laws enacted and in effect in any other jurisdiction). The Guarantor further waives all rights and defenses arising out of an election of remedies by the Bank, even though that election of remedies, such as a nonjudicial foreclosure with respect to security for a Guarantied Obligation, has destroyed the Guarantor's rights of subrogation and reimbursement against the Borrower by the operation of Section 580d of the California Code of Civil Procedure or otherwise. The 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 the Guarantor's or any other Person's failure to receive any such notice shall not impair or affect the Guarantor's Obligations or the enforceability of this Subsidiary Guaranty or any rights of the Bank created or granted hereby.

Liens on Real Property. In the event that all or any part of the Guarantied Obligations at any time are secured by any mortgage, charge one or more deeds of trust or mortgages or other instruments creating or granting Liens on any interests in real property or landProperty, the Guarantor authorizes the BankLender, upon the occurrence of and during the continuance of any Event of Default, at its sole option, without notice or demand and without affecting any Guarantied Obligations of the Guarantor, the enforceability of this Subsidiary Guaranty, or the validity or enforceability of any Liens of the Bank Lender on any collateral, to foreclose or enforce any or all mortgages, charges of such deeds of trust or mortgages or other instruments by judicial or nonjudicial sale or by otherwise selling the relevant real property or land under the terms of such mortgage, charge or other instrumentsale. The Guarantor expressly waives all rights and defenses that to the enforcement of this Guaranty or any rights of Lender created or granted hereby or to the recovery by Lender against Borrowers, or any of them, Guarantor may have or any other Person liable therefor of any deficiency after a judicial or nonjudicial foreclosure or sale because the obligations all or any part of the Borrower under the Loan Documents to which it Guarantied Obligations is a party are secured by real propertyProperty. This means, among other things, that the Bank : (1) Lender may collect from the any Guarantor without first foreclosing on any real or personal or real property Property collateral pledged by Borrower. If Borrowers and (2) if the Bank Lender forecloses or enforces on any real property Property collateral pledged by the Borrower, the Borrowers: (A) The amount of the obligations of the Borrower under the Loan Documents to which it is a party Guarantied Obligations 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, price and (B) the Bank Lender may collect from the any Guarantor even if the BankLender, by foreclosing on the real property Property collateral, has destroyed any right that the any Guarantor may have to collect from the BorrowerBorrowers. This is an unconditional and irrevocable waiver of any rights and defenses the any Guarantor may have because the obligations all or any part of the Borrower under the Loan Documents to which it Guarantied Obligations is a party are secured by real propertyProperty. These rights and Guarantor expressly waives any defenses include, but are not limited to, any rights or defenses based upon Section 580a, 580b, 580d, or 726 of the benefits that may be derived from California Code of Civil Procedure (and any similar laws enacted and in effect in xx.xx. 580a, 580b, 580d or 726, or comparable provisions of the Laws of any other jurisdiction). The Guarantor further waives all rights and defenses arising out of an election of remedies by the Bank, even though that election of remediesincluding, such as a nonjudicial foreclosure with respect to security for a Guarantied Obligationwithout limitation, has destroyed the Guarantor's rights of subrogation and reimbursement against the Borrower by the operation of Section 580d of the California Code of Civil Procedure or otherwise. The 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 the Guarantor's or any other Person's failure to receive any such notice shall not impair or affect the Guarantor's Obligations or the enforceability of this Subsidiary Guaranty or any rights of the Bank created or granted hereby.NRS

Liens on Real Property. In the event that all or any part of the Guarantied Obligations are at any time are secured by any mortgage, charge one or more deeds of trust or mortgages or other instruments creating or granting Liens on any interests in real property or landProperty, Obligor authorizes Administrative Agent, for the Guarantor authorizes the Bankbenefit of Creditors, upon the occurrence of and during the continuance of any Event of Default, at its sole option, without notice or demand and without affecting any Guarantied Obligations of the GuarantorObligations, the enforceability of this Subsidiary GuarantyAgreement, or the validity or enforceability of any Liens of Administrative Agent or the Bank Creditors on any collateralCollateral, to foreclose or enforce any or all mortgages, charges of such deeds of trust or mortgages or other instruments by judicial or nonjudicial sale or by otherwise selling the relevant real property or land under the terms of such mortgage, charge or other instrumentsale. The Guarantor Obligor expressly waives all any defenses to the enforcement of this Agreement or any rights and defenses that the Guarantor may have because the obligations of the Borrower under Administrative Agent or the Loan Documents Creditors created or granted hereby or to which it is the recovery by Administrative Agent or the Creditors against Borrower, Obligor or any other Person liable therefor of any deficiency after a party judicial or nonjudicial foreclosure or sale because all or any part of the Obligations are secured by real propertyProperty. This means, among other things: (1) Administrative Agent, that for the Bank benefit of Creditors, may collect from the Guarantor Obligor without first foreclosing on any real or personal or real property collateral pledged by Borrower. If the Bank forecloses or enforces on any real property Property collateral pledged by the Borrower; (2) if the Administrative Agent, for the benefit of Creditors, forecloses on any real Property collateral pledged by the Borrower: (A) the amount of the obligations of the Borrower under the Loan Documents to which it is a party Obligations 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, and (B) the Bank Administrative Agent, for the benefit of Creditors, may collect from the Guarantor Obligor even if the BankAdministrative Agent, by foreclosing on the real property Property collateral, has destroyed any right that the Guarantor Obligor may have to collect from the Borrower. This is an unconditional and irrevocable waiver of any rights and defenses the Guarantor Obligor may have because the obligations all or any part of the Borrower under the Loan Documents to which it is a party Obligations are secured by real propertyProperty. These rights and Obligor expressly waives any defenses include, but are not limited to, any rights or defenses based upon Section 580a, 580b, 580d, or 726 of the benefits that may be derived from California Code of Civil Procedure (and any similar laws enacted and in effect in §§ 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 Law. The Guarantor further waives all rights and defenses arising out of an election of remedies by the Bank, even though that election of remedies, such as a nonjudicial foreclosure with respect to security for a Guarantied Obligation, has destroyed the Guarantor's rights of subrogation and reimbursement against the Borrower by the operation of Section 580d of the California Code of Civil Procedure or otherwise. The Guarantor Obligor 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 the Guarantorinstruments. Obligor's or any other Person's failure to receive any such notice shall not impair or affect the GuarantorObligor's Obligations obligations hereunder or the enforceability of this Subsidiary Guaranty Agreement or any rights of the Bank Administrative Agent or Creditors created or granted herebygranted.

Liens on Real Property. In the event that all or any part of the ---------------------- Guarantied Obligations at any time are secured by any mortgage, charge one or more deeds of trust or mortgages or other instruments creating or granting Liens on any interests in real property or landProperty, the each Guarantor authorizes the Bank, upon the occurrence of and during the continuance of any Event of Default, at its sole option, without notice or demand and without affecting any Guarantied Obligations of the Guarantor, the enforceability of this Subsidiary Guaranty, or the validity or enforceability of any Liens of the Bank on any collateral, to foreclose or enforce any or all mortgages, charges or other instruments by judicial or nonjudicial sale or by otherwise selling the relevant real property or land under the terms of such mortgage, charge or other instrument. The Guarantor expressly waives all rights and defenses that the Guarantor may have because the obligations of the Borrower under the Loan Documents to which it is a party are secured by real property. This means, among other things, that the Bank authorizes (1) Lender may collect from the any Guarantor without first foreclosing on any real or personal or real property collateral pledged by Borrower. If the Bank forecloses or enforces on any real property Property collateral pledged by the Borrower, any Co-Borrower or any other Party. (2) If Lender forecloses on any real Property collateral pledged by the Borrower, any Co-Borrower or any other Party: (A) The amount of the obligations of the Borrower under the Loan Documents to which it is a party Guarantied Obligations 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, and the Bank . (B) The Lender may collect from the any Guarantor even if the BankLender, by foreclosing on the real property Property collateral, has destroyed any right that the any Guarantor may have to collect from the Borrower, any Co-Borrower or any other Party. This is an unconditional and irrevocable waiver of any rights and defenses the any Guarantor may have because the obligations all or any part of the Borrower under the Loan Documents to which it Guarantied Obligations is a party are secured by real propertyProperty. These rights and Each Guarantor expressly waives any defenses include, but are not limited to, any rights or defenses based upon Section 580a, 580b, 580d, or 726 of the benefits that may be derived from California Code of Civil Procedure (and any similar laws enacted and in effect in SS 580a, 580b, 580d or 726, or comparable provisions of the Laws of any other jurisdiction), including, without limitation, NRS Section 40.430 and judicial decisions relating thereto, and NRS Sections 40.451,40.455,40.457 and 40.459, and all other suretyship defenses it otherwise might or would have under Nevada Law or other applicable Law. The Guarantor further waives all rights and defenses arising out of an election of remedies by the Bank, even though that election of remedies, such as a nonjudicial foreclosure with respect to security for a Guarantied Obligation, has destroyed the Guarantor's rights of subrogation and reimbursement against the Borrower by the operation of Section 580d of the California Code of Civil Procedure or otherwise. The Each Guarantor 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 the any Guarantor's or any other Person's failure to receive deceive any such notice shall not impair or affect the any Guarantor's Obligations or the enforceability of this Subsidiary Guaranty or any rights of the Bank Lender created or granted herebyherein.

Liens on Real Property. In the event that all or any part of the Guarantied Obligations at any time are secured by any mortgage, charge one or more deeds of trust or mortgages or other instruments creating or granting Liens on any interests in real property or landProperty, the each Guarantor authorizes the BankCreditors, upon the occurrence of and during the continuance of any Event of Default, at its their sole option, without notice or demand and without affecting any Guarantied Obligations of the Guarantor, the enforceability of this Subsidiary Guaranty, or the validity or enforceability of any Liens of the Bank any Creditor on any collateralCollateral, to foreclose or enforce any or all mortgages, charges of such deeds of trust or mortgages or other instruments by judicial or nonjudicial sale or by otherwise selling the relevant real property or land under the terms of such mortgage, charge or other instrumentsale. The Guarantor expressly waives all rights and defenses that to the enforcement of this Guaranty or any rights of any Creditor created or granted hereby or to the recovery by the Creditors against Borrower, any Guarantor may have or any other Person liable therefor of any deficiency after a judicial or nonjudicial foreclosure or sale because the obligations all or any part of the Borrower under the Loan Documents to which it Guarantied Obligations is a party are secured by real propertyProperty. This means, among other things, that : (1) the Bank Creditor may collect from the any Guarantor without first foreclosing on any real or personal or real property collateral pledged by Borrower. If the Bank forecloses or enforces on any real property Property collateral pledged by the Borrower, ; and (2) if the Creditor forecloses on any real Property collateral pledged by the Borrower: (A) the amount of the obligations of the Borrower under the Loan Documents to which it is a party Guarantied Obligations 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, ; and (B) the Bank Creditor may collect from the any Guarantor even if the BankCreditor, by foreclosing on the real property Property collateral, has destroyed any right that the any Guarantor may have to collect from the Borrower. This is an unconditional and irrevocable waiver of any rights and defenses the Guarantor may have because the obligations all or any part of the Borrower under the Loan Documents to which it Guarantied Obligations is a party are secured by real propertyProperty. These rights and Guarantor expressly waives any defenses include, but are not limited to, any rights or defenses based upon Section 580a, 580b, 580d, or 726 of the benefits that may be derived from California Code of Civil Procedure (and any similar ‘‘ 580a, 580b, 580d or 726, or comparable provisions of the laws enacted and in effect in of any other jurisdiction), including, without limitation, NRS Section 40.430 and judicial decisions relating thereto, and NRS Sections 40.451, 40.455, 40.457 and 40.459, and all other suretyship defenses it otherwise might or would have under California Law or other applicable law. The Guarantor further waives all rights and defenses arising out of an election of remedies by the Bank, even though that election of remedies, such as a nonjudicial foreclosure with respect to security for a Guarantied Obligation, has destroyed the Guarantor's rights of subrogation and reimbursement against the Borrower by the operation of Section 580d of the California Code of Civil Procedure or otherwise. The Guarantor 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 the Guarantor's ’s or any other Person's ’s failure to receive any such notice shall not impair or affect the Guarantor's ’s Obligations or the enforceability of this Subsidiary Guaranty or any rights of the Bank any Creditor created or granted hereby.

Liens on Real Property. In the event that all or any part of the ---------------------- Guarantied Obligations at any time are secured by any mortgage, charge one or more deeds of trust or mortgages or other instruments creating or granting Liens on any interests in real property or landProperty, the each Guarantor authorizes the BankLender, upon the occurrence of and during the continuance of any Event of Default, at its sole option, without notice or demand and without affecting any Guarantied Obligations of the that Guarantor, the enforceability of this Subsidiary Guaranty, or the validity or enforceability of any Liens of the Bank Lender on any collateralCollateral, to foreclose or enforce any or all mortgages, charges of such deeds of trust or mortgages or other instruments by judicial or nonjudicial sale or by otherwise selling the relevant real property or land under the terms of such mortgage, charge or other instrumentsale. The Each Guarantor expressly waives all rights and defenses that the such Guarantor may have because the obligations Obligations of the Borrower under the Loan Documents to which it is a party are secured by real propertyProperty. This means, among other things, that the Bank Lender may collect from the any Guarantor without first foreclosing on any real or personal or real property Property collateral pledged by Borrower. If the Bank Lender forecloses or enforces on any real property Property collateral pledged by the Borrower, the amount of the obligations of the Borrower under the Loan Documents to which it is a party Obligations 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, and the Bank Lender may collect from the any Guarantor even if the BankLender, by foreclosing on the real property Property collateral, has destroyed any right that the such Guarantor may have to collect from the Borrower. This is an unconditional and irrevocable waiver of any rights and defenses the each Guarantor may have because the obligations Obligations of the Borrower under the Loan Documents to which it is a party are secured by real propertyProperty. These rights and defenses include, but are not limited to, any rights or defenses based upon Section 580a, 580b, 580d, or 726 of the California Code of Civil Procedure (and any similar laws enacted and in effect in any other jurisdiction)Procedure. The Each Guarantor further waives all rights and defenses arising out of an election of remedies by the BankLender, even though that election of remedies, such as a nonjudicial foreclosure with respect to security for a Guarantied Obligation, has destroyed the that Guarantor's rights of subrogation and reimbursement against the Borrower by the operation of Section 580d of the California Code of Civil Procedure or otherwise. The Each Guarantor 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 the that Guarantor's or any other Person's failure to receive any such notice shall not impair or affect the that Guarantor's Obligations or the enforceability of this Subsidiary Guaranty or any rights of the Bank Lender created or granted hereby.

Liens on Real Property. In the event that all or any part of the Guarantied Obligations at any time are secured by any mortgage, charge one or more deeds of trust or mortgages or other instruments creating or granting Liens on any interests in real property or landProperty, the Guarantor authorizes the BankLender, upon the occurrence of and during the continuance of any Event of Default, at its sole option, without notice or demand and without affecting any Guarantied Obligations of the Guarantor, the enforceability of this Subsidiary Guaranty, or the validity or enforceability of any Liens of the Bank Lender on any collateral, to foreclose or enforce any or all mortgages, charges of such deeds of trust or mortgages or other instruments by judicial or nonjudicial sale or by otherwise selling the relevant real property or land under the terms of such mortgage, charge or other instrumentsale. The Guarantor expressly waives all rights and defenses that to the enforcement of this Guaranty or any rights of Lender created or granted hereby or to the recovery by Lender against Borrowers, or any of them, Guarantor may have or any other Person liable therefor of any deficiency after a judicial or nonjudicial foreclosure or sale because the obligations all or any part of the Borrower under the Loan Documents to which it Guarantied Obligations is a party are secured by real propertyProperty. This means, among other things, that the Bank : (1) Lender may collect from the any Guarantor without first foreclosing on any real or personal or real property Property collateral pledged by Borrower. If Borrowers and (2) if the Bank Lender forecloses or enforces on any real property Property collateral pledged by the Borrower, the Borrowers: (A) The amount of the obligations of the Borrower under the Loan Documents to which it is a party Guarantied Obligations 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, price and (B) the Bank Lender may collect from the any Guarantor even if the BankLender, by foreclosing on the real property Property collateral, has destroyed any right that the any Guarantor may have to collect from the BorrowerBorrowers. This is an unconditional and irrevocable waiver of any rights and defenses the any Guarantor may have because the obligations all or any part of the Borrower under the Loan Documents to which it Guarantied Obligations is a party are secured by real propertyProperty. These rights and Guarantor expressly waives any defenses include, but are not limited to, any rights or defenses based upon Section 580a, 580b, 580d, or 726 of the benefits that may be derived from California Code of Civil Procedure (and any similar laws enacted and in effect in xx.xx. 580a, 580b, 580d or 726, or comparable provisions of the Laws of any other jurisdiction), including, without limitation, NRS Section 40.430 and judicial decisions relating thereto, and NRS Sections 40.451, 40.455, 40.457 and 40.459, and all other suretyship defenses it otherwise might or would have under California Law or other applicable Law. The Guarantor further waives all rights and defenses arising out of an election of remedies by the Bank, even though that election of remedies, such as a nonjudicial foreclosure with respect to security for a Guarantied Obligation, has destroyed the Guarantor's rights of subrogation and reimbursement against the Borrower by the operation of Section 580d of the California Code of Civil Procedure or otherwise. The Guarantor expressly waives any right to receive notice of any judicial or 364-Day Loan Agreement 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 the any Guarantor's or any other Person's failure to receive any such notice shall not impair or affect the Guarantor's Obligations or the enforceability of this Subsidiary Guaranty or any rights of the Bank Lender created or granted herebygranted.