Common use of No Novation or Mutual Departure Clause in Contracts

No Novation or Mutual Departure. The Obligors expressly acknowledge and agree that: (a) there has not been, and this Agreement does not constitute or establish, a novation with respect to the Note or any of the Loan Documents, or a mutual departure from the strict terms, provisions and conditions thereof, other than as specifically specified in Section 2 hereof; and (b) nothing in this Waiver shall affect or limit the Lender's right to demand payment of liabilities owing from the Obligors under, or to demand strict performance of the terms, provisions and conditions of, the other Loan Document, to exercise any and all rights, powers and remedies under the Loan Documents or at law or in equity, or to do any and all of the foregoing, immediately at any time after (a) the occurrence of an Event of Default, other than arising from an Acknowledged Event of Default during the Forbearance Period or (b) the occurrence of any Event of Default after the Forbearance Period.