No Release of the Guarantors. Save and except for, and only upon the cancellation in full of the Facilities and the receipt by the Guaranteed Parties of the full, final and definitive amount of their claim against the Borrowers, with respect to the Obligations, the obligations of the Guarantors hereunder shall not be reduced, limited or terminated, nor shall the Guarantors be discharged from any obligation hereunder, for any reason whatsoever including, but not limited to (and whether or not the same shall have occurred or failed to occur once or more than once and, in the case of extensions of time for payment, observance or performance of obligations, whether such extensions or any of them are for periods longer than the respective periods then specified therefor and whether or not the Guarantors or any one thereof shall have received notice thereof or assented thereto): 2.9.1 any extension of the time for payment, observance or performance, or any other amendment or modification of any of the terms and conditions of the Guaranteed Obligations or the Operative Documents; 2.9.2 any composition or settlement (whether by way of release, acceptance of a plan of reorganization or otherwise) of the Guaranteed Obligations; 2.9.3 any failure to exercise, delay in the exercise of, exercise or waiver of, or forbearance or other indulgence with respect to any Rights, Remedies and/or Recourses available to the Guaranteed Parties, including but not limited to: 2.9.3.1 any exercise of or failure to exercise any right of set-off, compensation, recoupment or counterclaim; 2.9.3.2 any election of Rights, Remedies and/or Recourses effected by the Guaranteed Parties; 2.9.3.3 any subordination by operation of Law, whether present or future, of any or all of the Guaranteed Obligations; and 2.9.3.4 any other act or failure to act which varies the risks of the Guarantors hereunder or, but for the provisions hereof, under the terms of any Law, would operate to reduce, limit or terminate the obligations of the Guarantors from any obligation hereunder.
Appears in 1 contract
Samples: Credit Agreement (Cgi Group Inc)
No Release of the Guarantors. Save and except for, and only upon the cancellation in full of the Facilities and the receipt by the Guaranteed Parties of the full, final and definitive amount of their claim against the Borrowers, with respect to the Obligations, the obligations of the Guarantors hereunder shall not be reduced, limited or terminated, nor shall the Guarantors be discharged from any obligation hereunder, for any reason whatsoever including, but not limited to (and whether or not the same shall have occurred or failed to occur once or more than once and, in the case of extensions of time for payment, observance or performance of obligations, whether such extensions or any of them are for periods longer than the respective periods then specified therefor and whether or not the Guarantors or any one thereof shall have received notice thereof or assented thereto):
2.9.1 any extension of the time for payment, observance or performance, or any other amendment or modification of any of the terms and conditions of the Guaranteed Obligations or the Operative Loan Documents;
2.9.2 any composition or settlement (whether by way of release, acceptance of a plan of reorganization or otherwise) of the Guaranteed Obligations;
2.9.3 any failure to exercise, delay in the exercise of, exercise or waiver of, or forbearance or other indulgence with respect to any Rightsrights, Remedies remedies and/or Recourses recourses available to the Guaranteed Parties, including but not limited to:
2.9.3.1 any exercise of or failure to exercise any right of set-off, compensation, recoupment or counterclaim;
2.9.3.2 any election of Rightsrights, Remedies remedies and/or Recourses recourses effected by the Guaranteed Parties;
2.9.3.3 any subordination by operation of Applicable Law, whether present or future, of any or all of the Guaranteed Obligations; and
2.9.3.4 any other act or failure to act which varies the risks of the Guarantors hereunder or, but for the provisions hereof, under the terms of any Applicable Law, would operate to reduce, limit or terminate the obligations of the Guarantors from any obligation hereunder.
Appears in 1 contract
No Release of the Guarantors. Save and except for, and only upon the cancellation in full of the Facilities and the receipt by the Guaranteed Parties of the full, final and definitive amount of their claim against the Borrowers, with respect Subject to the ObligationsSection 6.10, the obligations of the Guarantors hereunder shall not be reduced, limited or terminated, nor shall the Guarantors be discharged from any obligation hereunder, for any reason whatsoever including, but not limited to (and whether or not the same shall have occurred or failed to occur once or more than once and, in the case of extensions of time for payment, observance or performance of obligations, whether such extensions or any of them are for periods longer than the respective periods then specified therefor and whether or not the Guarantors or any one thereof shall have received notice thereof or assented thereto):
2.9.1 any extension of the time for payment, observance or performance, or any other amendment or modification of any of the terms and conditions of the Guaranteed Obligations or the Operative Loan Documents;
2.9.2 any composition or settlement (whether by way of release, acceptance of a plan of reorganization or otherwise) of the Guaranteed Obligations;
2.9.3 the release of any or all of the Guarantee and Subordination Agreement or any release, compromise, settlement, or extension of the time for payment, observance or performance of any obligations created by the Guarantee and Subordination Agreement;
2.9.4 any election not or failure to exercise, delay in the exercise of, exercise or waiver of, or forbearance or other indulgence with respect to any RightsRight, Remedies and/or Recourses Remedy or Recourse available to the Guaranteed PartiesLenders, including but not limited to:
2.9.3.1 2.9.4.1 any election not or failure to protect or preserve any collateral or protect, perfect or continue the perfection of any Lien upon any collateral now or hereafter securing any or all of the Guaranteed Obligations;
2.9.4.2 any exercise of or failure to exercise any right of set-off, compensation, recoupment or counterclaim;
2.9.3.2 2.9.4.3 any election of Rights, Remedies and/or or Recourses effected by the Guaranteed PartiesAgent or the Lenders;
2.9.3.3 2.9.4.4 any subordination by operation of Law, whether present or future, of any or all of the Guaranteed Obligations;
2.9.4.5 any disallowance, invalidity, illegality, voidness or unenforceability of any or all Liens securing any or all of the Guaranteed Obligations; and
2.9.3.4 2.9.4.6 any other act or failure to act which varies the risks of the Guarantors hereunder or, but for the provisions hereof, under the terms of any Law, would operate to reduce, limit or terminate the obligations of the Guarantors from any obligation hereunderhereunder save and except for the receipt by the Agent and the Lenders of the full, final and definitive amount of their claim against the Borrower with respect to the Guaranteed Obligations.
Appears in 1 contract
No Release of the Guarantors. Save Subject to the provisions of Section 10.2 of the Credit Agreement, save and except for, and only upon the cancellation in full of the Facilities and the receipt by the Guaranteed Parties of the full, final and definitive amount of their claim against the Borrowers, with respect to the Obligations, the obligations of the Guarantors hereunder shall not be reduced, limited or terminated, nor shall the Guarantors be discharged from any obligation hereunder, for any reason whatsoever including, but not limited to (and whether or not the same shall have occurred or failed to occur once or more than once and, in the case of extensions of time for payment, observance or performance of obligations, whether such extensions or any of them are for periods longer than the respective periods then specified therefor and whether or not the Guarantors or any one thereof shall have received notice thereof or assented thereto):
2.9.1 any extension of the time for payment, observance or performance, or any other amendment or modification of any of the terms and conditions of the Guaranteed Obligations or the Operative Documents;
2.9.2 any composition or settlement (whether by way of release, acceptance of a plan of reorganization or otherwise) of the Guaranteed Obligations;
2.9.3 any failure to exercise, delay in the exercise of, exercise or waiver of, or forbearance or other indulgence with respect to any Rights, Remedies and/or Recourses available to the Guaranteed Parties, including but not limited to:
2.9.3.1 any exercise of or failure to exercise any right of set-off, compensation, recoupment or counterclaim;
2.9.3.2 any election of Rights, Remedies and/or Recourses effected by the Guaranteed Parties;
2.9.3.3 any subordination by operation of Law, whether present or future, of any or all of the Guaranteed Obligations; and
2.9.3.4 any other act or failure to act which varies the risks of the Guarantors hereunder or, but for the provisions hereof, under the terms of any Law, would operate to reduce, limit or terminate the obligations of the Guarantors from any obligation hereunder.
Appears in 1 contract
Samples: Credit Agreement (Cgi Group Inc)
