Common use of No Release of Obligations Clause in Contracts

No Release of Obligations. Neither Trustor, any other Borrower, nor any other Person now or hereafter obligated for the payment or performance of all or any part of the Obligations shall be relieved of any such obligation by reason of (a) the failure of Trustee or Beneficiary to comply with any request of Trustor, any other Borrower or any other Person so obligated to foreclose the Lien of this Deed of Trust to enforce any provision hereunder or under the Credit Agreement; (b) the release, regardless of consideration, of the Trust Property or any portion thereof or interest therein or the addition of any other property to the Trust Property; (c) any agreement or stipulation between any subsequent owner of the Trust Property and Beneficiary extending, renewing, rearranging or in any other way modifying the terms of this Deed of Trust without first having obtained the consent of, given notice to or paid any consideration to Trustor , any other Borrower or any other Person, and in any such event Trustor, all other Borrowers and all such other Persons shall continue to be liable to make payment according to the terms of any such extension or modification agreement unless expressly released and discharged in writing by Beneficiary; or (d) any other act or occurrence save and except the complete payment and performance of all of the Obligations.

Appears in 4 contracts

Samples: Lakes Entertainment Inc, Lakes Entertainment Inc, Lakes Entertainment Inc

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No Release of Obligations. Neither Trustor, any other Borrower, nor any other Person now or hereafter obligated for the payment or performance of all or any part of the Obligations shall be relieved of any such obligation by reason of (a) the failure of Trustee or Beneficiary to comply with any request of Trustor, any other Borrower or any other Person so obligated to foreclose the Lien of this Deed of Trust to enforce any provision hereunder or under the Credit Financing Agreement; (b) the release, regardless of consideration, of the Trust Property or any portion thereof or interest therein or the addition of any other property to the Trust Property; (c) any agreement or stipulation between any subsequent owner of the Trust Property and Beneficiary extending, renewing, rearranging or in any other way modifying the terms of this Deed of Trust without first having obtained the consent of, given notice to or paid any consideration to Trustor Trustor, any other Borrower or any other Person, and in any such event Trustor, all other Borrowers and all such other Persons shall continue to be liable to make payment according to the terms of any such extension or modification agreement unless expressly released and discharged in writing by Beneficiary; or (d) any other act or occurrence save and except the complete payment and performance of all of the Obligations.

Appears in 3 contracts

Samples: Lakes Entertainment Inc, Lakes Entertainment Inc, Lakes Entertainment Inc

No Release of Obligations. Neither To the extent permitted by law, neither Trustor, any other BorrowerGuarantor, nor any other Person now or hereafter obligated for the payment or performance of all or any part of the Obligations shall be relieved of any such obligation by reason of (a) the failure of Trustee or Beneficiary to comply with any request of Trustor, Beneficiary, any other Borrower Guarantors or any other Person so obligated to foreclose the Lien of this Deed of Trust to enforce any provision hereunder or under the Credit Financing Agreement; (b) the release, regardless of consideration, of the Trust Property or any portion thereof or interest therein or the addition of any other property to the Trust Property; (c) any agreement or stipulation between any subsequent owner of the Trust Property and Beneficiary extending, renewing, rearranging or in any other way modifying the terms of this Deed of Trust without first having obtained the consent of, given notice to or paid any consideration to Trustor Trustor, Beneficiary, any other Borrower Guarantor, or any other Person, and in any such event Trustor, Beneficiary, all other Borrowers Guarantors, and all such other Persons shall continue to be liable to make payment according to the terms of any such extension or modification agreement unless expressly released and discharged in writing by Beneficiary; or (d) any other act or occurrence save and except the complete payment and performance of all of the Obligations.

Appears in 2 contracts

Samples: Security Agreement and Fixture (Gsi Group Inc), Security Agreement and Fixture Filing (Gsi Group Inc)

No Release of Obligations. Neither the Trustor, any other Borrower, Credit Party nor any other Person now or person hereafter obligated for the payment or performance of all or any part of the Secured Obligations shall be relieved of any such obligation by reason of of: (a) the failure of the Trustee or Beneficiary to comply with any request of the Trustor, any other Borrower Credit Party or any other Person so obligated obligated, to foreclose the Lien of this Deed of Trust or to enforce any provision hereunder or under the Credit Agreement; (b) the release, regardless of consideration, of the Deed of Trust Property or any portion thereof or interest therein or the addition of any other property to the Deed of Trust Property; (c) any agreement or stipulation between any subsequent owner of the Deed of Trust Property and Beneficiary the Mortgagee extending, renewing, rearranging or in any other way modifying the terms of this Deed of Trust without first having obtained the consent of, given notice to or paid any consideration to Trustor the Trustor, any other Borrower Credit Party or any such other Person, and in any such event the Trustor, all such other Borrowers Credit Party and all such other Persons shall continue to be liable to make payment according to the terms of any such extension or modification agreement unless expressly released and discharged in writing by Beneficiarythe Mortgagee; or (d) by any other act or occurrence save and except the complete payment and performance of all of the Obligationsfor Facility Termination.

Appears in 1 contract

Samples: Credit Agreement (Chesapeake Energy Corp)

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No Release of Obligations. Neither Trustor, any other Borrower, Trustor nor any other Person now or hereafter obligated for the payment or performance of all or any part of the Obligations shall be relieved of any such obligation by reason of (a) the failure of Trustee or Beneficiary to comply with any request of Trustor, any other Borrower Trustor or any other Person so obligated to foreclose the Lien of this Deed of Trust or to enforce any provision hereunder or under the Credit Agreement; , (b) the release, regardless of consideration, of the Deed of Trust Property or the Collateral or any portion thereof or interest therein or the addition of any other property to the Deed of Trust Property; Property or the Collateral, (c) any agreement or stipulation between any subsequent owner of the Deed of Trust Property or the Collateral and Trustee and/or and Beneficiary extending, renewing, rearranging or in any other way modifying the terms of this Deed of Trust without first having obtained the consent of, given notice to or paid any consideration to Trustor , any other Borrower or any such other Person, and in any such event Trustor, all other Borrowers guarantor and all such other Persons shall continue to be liable to make payment according to the terms of any such extension or modification agreement unless expressly released and discharged in writing by Beneficiary; Trustee and/or Beneficiary or (d) by any other act or occurrence save and except the complete payment of the Obligations and performance the complete fulfilment of all of obligations hereunder or under the ObligationsCredit Agreement.

Appears in 1 contract

Samples: Option Agreement And

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