Obligations Not Waived. To the fullest extent permitted by applicable Law, each Subsidiary Guarantor waives presentment to, demand of payment from and protest to the Borrower or any other Person of any of the Obligations, and also waives notice of acceptance of its guarantee, notice of protest for nonpayment and all other formalities. To the fullest extent permitted by applicable law, the guarantee of each Subsidiary Guarantor hereunder shall not be affected by (a) the failure of any Person to assert any claim or demand or to enforce or exercise any right or remedy against the Borrower, any Subsidiary Guarantor or any other Person under the provisions of the Credit Agreement, any other Loan Document or otherwise in connection therewith; (b) any extension, renewal or increase of or in any of the Obligations; (c) any rescission, waiver, amendment or modification of, or any release from, any of the terms or provisions of this Agreement, the Credit Agreement, any other Loan Document, any guarantee or any other agreement or instrument, including with respect to any guarantor under the Loan Documents; (d) the failure or delay of any Guaranteed Party to assert any claim or demand, or exercise any right or remedy against any Loan Party, any other guarantor of the Obligations or any other Person; or (e) any default, failure or delay, willful or otherwise, in the performance of the Obligations, or by any other act, omission or delay to do any other act that may or might in any manner or to any extent vary the risk of any guarantor or that would otherwise operate as a discharge of any Subsidiary Guarantor as a matter of law or equity (other than the payment in full in cash of all the Obligations (other than contingent indemnification obligations for which no claim has been asserted) and the termination of all Commitments) or which would impair or eliminate any right of any Subsidiary Guarantor to subrogation.
Appears in 2 contracts
Samples: Subsidiary Guarantee Agreement (Ansys Inc), Subsidiary Guarantee Agreement (Ansys Inc)
Obligations Not Waived. (a) To the fullest extent permitted by applicable Lawlaw, each Subsidiary Revolving Guarantor waives presentment to, demand of payment from and protest to the applicable Borrower or and any other Person guarantor of any of the Revolving Credit Obligations, and also waives notice of acceptance of its guarantee, guarantee and notice of protest for nonpayment and all other formalitiesnonpayment. To the fullest extent permitted by applicable law, the guarantee obligations of each Subsidiary Revolving Guarantor hereunder shall not be affected by, and each Revolving Guarantor hereby waives any defense arising by reason of, (ai) the failure of the Administrative Agent or any Person other Revolving Credit Guaranteed Party to assert any claim or demand or to enforce or exercise any right or remedy against the Borrower, any Subsidiary Guarantor applicable Borrower or any other Person guarantor under the provisions of the Credit Agreement, any other Loan Document or otherwise in connection therewith; otherwise, (b) any extension, renewal or increase of or in any of the Obligations; (cii) any rescission, waiver, amendment or modification of, or any release from, from any of the terms or provisions of this Agreement, any other Loan Document, any Guarantee or any other agreement, including with respect to any other Guarantor under this Agreement, or (iii) the failure to take or perfect any security interest in, or the release of, any collateral security held by or on behalf of any Revolving Credit Guaranteed Party.
(b) To the fullest extent permitted by applicable law, each Term Loan Guarantor waives presentment to, demand of payment from and protest to ROC and any other guarantor of any of the Term Loan Obligations, and also waives notice of acceptance of its guarantee and notice of protest for nonpayment. To the fullest extent permitted by applicable law, the obligations of each Term Loan Guarantor hereunder shall not be affected by, and each Term Loan Guarantor hereby waives any defense arising by reason of, (i) the failure of the Administrative Agent or any other Term Loan Guaranteed Party to assert any claim or demand or to enforce or exercise any right or remedy against ROC or any other guarantor under the provisions of the Credit Agreement, any other Loan Document or otherwise, (ii) any rescission, waiver, amendment or modification of, or any release from any of the terms or provisions of this Agreement, any other Loan Document, any guarantee Guarantee or any other agreement or instrumentagreement, including with respect to any guarantor other Term Loan Guarantor under the Loan Documents; this Agreement, or (diii) the failure to take or delay perfect any security interest in, or the release of, any collateral security held by or on behalf of any Term Loan Guaranteed Party to assert any claim or demand, or exercise any right or remedy against any Loan Party, any other guarantor of the Obligations or any other Person; or (e) any default, failure or delay, willful or otherwise, in the performance of the Obligations, or by any other act, omission or delay to do any other act that may or might in any manner or to any extent vary the risk of any guarantor or that would otherwise operate as a discharge of any Subsidiary Guarantor as a matter of law or equity (other than the payment in full in cash of all the Obligations (other than contingent indemnification obligations for which no claim has been asserted) and the termination of all Commitments) or which would impair or eliminate any right of any Subsidiary Guarantor to subrogation.
Appears in 2 contracts
Samples: Credit Agreement (Rayonier Inc), Credit Agreement (Rayonier Inc)
Obligations Not Waived. To the fullest extent permitted by applicable Lawlaw, each Subsidiary Guarantor waives diligence, presentment to, demand of payment from and protest to from, filing of claims with a court in the event of receivership or bankruptcy of the Borrower or any other Person of any guarantor of the Obligations, all setoffs and also waives notice counterclaims and all presentments, demands for performance, notices of nonperformance, protests, notices of protest, notices of dishonor and notices of acceptance of its guarantee, notice the benefits of protest for nonpayment all statutes of limitations, and all other formalitiesdemands whatsoever except as specifically provided herein. To the fullest extent permitted by applicable law, the guarantee obligations of each Subsidiary Guarantor hereunder shall not be affected by affected, irrespective of:
(ai) the failure of any Person the Secured Party to assert any claim or demand or to enforce or exercise any right or remedy against the Borrower, any Subsidiary Guarantor Borrower or any other Person guarantor under the provisions of the Credit Agreement, any other Loan Related Document or otherwise in connection therewith; otherwise;
(bii) any extension, extension or renewal or increase of any other indulgence in relation to any provision hereof or in any of the Obligations; thereof;
(ciii) any rescission, waiver, compromise, acceleration, amendment or modification of, or any release from, from any of the terms or provisions of of, this Agreement, the Credit Agreement, any other Loan Related Document, any guarantee or any other agreement or instrumentagreement, including with respect to any guarantor other Guarantor under this Agreement;
(iv) the Loan Documents; release, exchange, waiver or foreclosure of any of the security held by or on behalf of the Secured Party;
(dv) the failure or delay of any Guaranteed the Secured Party to assert take any claim or demandsteps to perfect and maintain its security interest in, or exercise to preserve its rights to, any right of the security or remedy against any Loan collateral held by or on behalf of the Secured Party for the Obligations;
(vi) the election by, or on behalf of the Secured Party, in any other guarantor proceeding instituted with respect to the Borrower or any Guarantor under Chapter 11 of Title 11 of the Obligations United States Code (11 U.S.C. 101 et seq.) (the “Bankruptcy Code”), of the application of Section 1111(b)(2) of the Bankruptcy Code;
(vii) any borrowing or grant of a security interest by the Borrower, as debtor-in-possession, under Section 364 of the Bankruptcy Code; and
(viii) the disallowance, under Section 502 of the Bankruptcy Code, of all or any other Person; portion of the claims of the Secured Party for repayment of all or (e) any default, failure or delay, willful or otherwise, in the performance part of the Obligations, or by any other act, omission or delay to do any other act that may or might in any manner or to any extent vary the risk of any guarantor or that would otherwise operate as a discharge of any Subsidiary Guarantor as a matter of law or equity (other than the payment in full in cash of all the Obligations (other than contingent indemnification obligations for which no claim has been asserted) and the termination of all Commitments) or which would impair or eliminate any right of any Subsidiary Guarantor to subrogation.
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Samples: Subsidiary Guarantee Agreement (Luminent Mortgage Capital Inc)
Obligations Not Waived. To the fullest extent permitted by applicable Law, each Subsidiary Guarantor waives presentment to, demand of payment from and protest to the Borrower or any other Person of any of the Obligations, and also waives notice of acceptance of its guarantee, notice of protest for nonpayment and all other formalities. To the fullest extent permitted by applicable law, the guarantee of each Subsidiary Guarantor hereunder shall not be affected by (a) the failure of any Person to assert any claim or demand or to enforce or exercise any right or remedy against the Borrower, any Subsidiary Guarantor or any other Person under the provisions of the Credit this Agreement, any other Loan Document or otherwise in connection therewith; (b) any extension, renewal or increase of or in any of the Obligations; (c) any rescission, waiver, amendment or modification of, or any release from, any of the terms or provisions of this Agreement, the Credit Agreement, any other Loan Document, any guarantee or any other agreement or instrument, including with respect to any guarantor under the Loan Documents; (d) the failure or delay of any Guaranteed Party to assert any claim or demand, or exercise any right or remedy against any Loan Party, any other guarantor of the Obligations or any other Person; or (e) any default, failure or delay, willful or otherwise, in the performance of the Obligations, or by any other act, omission or delay to do any other act that may or might in any manner or to any extent vary the risk of any guarantor or that would otherwise operate as a discharge of any Subsidiary Guarantor as a matter of law or equity (other than the payment in full in cash of all the Obligations (other than contingent indemnification obligations for which no claim has been asserted) and the termination of all Commitments) or which would impair or eliminate any right of any Subsidiary Guarantor to subrogation.
Appears in 1 contract
Samples: Credit Agreement (Ansys Inc)
Obligations Not Waived. To the fullest extent permitted by applicable Lawlaw, each Subsidiary Guarantor waives presentment to, demand of payment from and protest to the Borrower or any other Person person of any of the Obligations, and also waives notice of acceptance of its guarantee, notice of protest for nonpayment nonpayment, and all other formalities. To the fullest extent permitted by applicable law, the guarantee obligations of each Subsidiary Guarantor hereunder shall not be affected by (a) the failure of any Person Loan Party to assert any claim or demand or to enforce or exercise any right or remedy against the Borrower, any Subsidiary Guarantor Borrower or any other Person Subsidiary Guarantor under the provisions of the Credit Agreement, any other Loan Document or otherwise in connection therewith; otherwise, (b) any extension, renewal or increase of or in any of the Obligations; , (c) any rescission, waiver, amendment or modification of, or any release from, any of the terms or provisions of this Agreement, the Credit Agreement, any other Loan Document, any guarantee or any other agreement or instrument, including with respect to any guarantor other Subsidiary Guarantor under the Loan Documents; this Agreement, (d) the release of (or the failure to perfect a security interest in) any of the security held by or on behalf of the Collateral Agent or any other Secured Party or (e) the failure or delay of any Guaranteed Secured Party to assert any claim or demand, or exercise any right or remedy against any Loan Party, any other guarantor of the Obligations Obligations; provided, in any action or proceeding involving any state corporate law, or any state, federal or foreign bankruptcy, insolvency, reorganization or other Person; or (e) any defaultlaw affecting the rights of creditors generally, failure or delay, willful or otherwise, in if the performance of the Obligations, or by any other act, omission or delay to do any other act that may or might in any manner or to any extent vary the risk of any guarantor or that would otherwise operate as a discharge obligations of any Subsidiary Guarantor as a matter of law hereunder would otherwise be held or equity (other than determined to be void, voidable, invalid or unenforceable, or subordinated to the payment in full in cash of all the Obligations (other than contingent indemnification obligations for which no claim has been asserted) and the termination of all Commitments) or which would impair or eliminate any right claims of any other creditors, on account of the amount of its liability hereunder, then, notwithstanding any other provision to the contrary, the amount of such liability shall, without any further action by such Subsidiary Guarantor Guarantor, any Lender, any Agent or any other person, be automatically limited and reduced to subrogationthe highest amount that is valid and enforceable and not subordinated to the claims of other creditors as determined in such action or proceeding.
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Obligations Not Waived. To the fullest extent permitted by applicable Lawlaw, each Subsidiary Guarantor waives presentment to, demand of payment from and protest to the Borrower or any other Person of any of the Obligations, and also waives notice of acceptance of its guarantee, guarantee and notice of protest for nonpayment and all other formalitiesnonpayment. To the fullest extent permitted by applicable law, the guarantee obligations of each Subsidiary Guarantor hereunder shall not be affected by by, and shall remain unconditional, irrevocable and absolute irrespective of: (a) the failure of the Administrative Agent or any Person other Finance Party (i) to assert any claim or demand or to enforce or exercise any right or remedy against the Borrower, any Subsidiary Guarantor Borrower or any other Person Guarantor under the provisions of the Credit Agreement, any other Loan Document or any Platinum Lease or otherwise in connection therewith; or (ii) to exercise any right or remedy against any other Guarantor of, or collateral securing, any Obligations, (b) any extension, renewal or increase of or in any of the Obligations; (c) any rescission, waiverwaiver (except the effect of any waiver obtained pursuant to Section 11(b)), amendment or modification of, or any release from, from any of the terms or provisions of this Agreement, the Credit Agreementany other Loan Document or Platinum Lease, any other Loan Document, any guarantee Guarantee or any other agreement or instrument(in each case pursuant to the terms thereof), including with respect to any guarantor other Guarantor under the Loan Documents; this Agreement, or (dc) the failure any addition, exchange or delay release of any Guaranteed Party to assert collateral or of any claim Person that is (or demand, or exercise any right or remedy against any Loan Party, any other will become) a guarantor of the Obligations or any other Person; or (eincluding a Guarantor hereunder) any default, failure or delay, willful or otherwise, in the performance of the Obligations, or any surrender or non-perfection of any collateral, or any amendment to, or waiver or release of, or addition to, or consent to or departure from, any other guaranty held by any other actFinance Party securing any of the Obligations, omission or delay to do (d) any other act that may circumstance which might otherwise constitute a defense available to, or might in a legal or equitable discharge of, any manner or to any extent vary the risk of any guarantor or that would otherwise operate as a discharge of any Subsidiary Guarantor as a matter of law or equity (other than the payment in full in cash of all the Obligations (other than contingent indemnification obligations for which no claim has been asserted) and the termination of all Commitments) or which would impair or eliminate any right of any Subsidiary Guarantor to subrogationGuarantor.
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Obligations Not Waived. To the fullest extent permitted by applicable Lawlaw, each Subsidiary Guarantor waives presentment to, demand of payment from and protest to the each Borrower (or if such Guarantor is a Borrower, each other Borrower) or any other Person person of any of the Obligations, and also waives notice of acceptance of its guarantee, guarantee and notice of protest for nonpayment and all other formalitiesany requirement that the Collateral Agent or any Secured Party protect, secure, perfect or insure any Lien or any property subject thereto. To the fullest extent permitted by applicable law, the guarantee obligations of each Subsidiary Guarantor hereunder shall not be affected by (a) the failure of the Collateral Agent or any Person other Secured Party to assert any claim or demand or to enforce or exercise any right or remedy against the any Borrower, any Subsidiary other Guarantor or any other Person guarantor under the provisions of the Credit Agreement, any other Loan Document or otherwise in connection therewith; for any reason, (b) any extension, renewal or increase of or in any of the Obligations; (c) any rescission, waiverwaiver (except the effect of any waiver obtained pursuant to Section 12(b)), amendment or modification of, or any release from, of any of the Borrower or any other Guarantor from any terms or provisions of this Agreement, the Credit Agreement, any other Loan Document, any guarantee other Guaranty or any other agreement or instrumentagreement, including with respect to any guarantor other Guarantor under this Agreement, (c) the Loan Documents; failure to perfect any security interest in, or the release of, any of the security held by or on behalf of the Collateral Agent or any other Secured Party, (d) the failure or delay of any Guaranteed Party to assert any claim or demand, or exercise any right that any Guarantor may now or remedy against any Loan Party, any other guarantor hereafter have under Section 3-606 of the Obligations UCC or any other Person; otherwise to unimpaired collateral or (e) any default, failure or delay, willful or otherwise, in the performance of the Obligations, or by any other act, omission or delay to do any other act circumstance that may or might in any manner or to any extent otherwise constitute a defense available to, vary the risk of any guarantor of, or that would otherwise operate as a discharge of any Subsidiary of, such Guarantor as a matter of law or equity (other than the payment in full in cash of all the Obligations (other than contingent indemnification obligations for which no claim has been asserted) and the termination of all Commitments) or which would impair or eliminate any right of any Subsidiary Guarantor to subrogationequity.
Appears in 1 contract
Samples: Superpriority Debtor in Possession Credit Agreement (Great Atlantic & Pacific Tea Co Inc)
Obligations Not Waived. To the fullest extent permitted by applicable Lawlaw, each Subsidiary Guarantor waives presentment to, demand of payment from and protest to the Borrower or any other Person person of any of the Obligations, and also waives notice of acceptance of its guarantee, notice of protest for nonpayment nonpayment, and all other formalities. To the fullest extent permitted by applicable law, the guarantee obligations of each Subsidiary Guarantor hereunder shall not be affected by (a) the failure of any Person Loan Party to assert any claim or demand or to enforce or exercise any right or remedy against the Borrower, any Subsidiary Guarantor Borrower or any other Person Subsidiary Guarantor under the provisions of the Credit Agreement, any other Loan Document or otherwise in connection therewith; otherwise, (b) any extensionex tension, renewal or increase of or in any of the Obligations; , (c) any rescission, waiver, amendment or modification of, or any release from, any of the terms or provisions of this Agreement, the Credit Agreement, any other Loan Document, any guarantee or any other agreement or instrument, including with respect to any guarantor other Subsidiary Guarantor under the Loan Documents; this Agreement, (d) the release of (or the failure to perfect a security interest in) any of the security held by or on behalf of the Collateral Agent or any other Secured Party or (e) the failure or delay of any Guaranteed Secured Party to assert any claim or demand, or exercise any right or remedy against any Loan Party, any other guarantor of the Obligations Obligations; provided, in any action or proceeding involving any state corporate law, or any state, federal or foreign bankruptcy, insolvency, reorganization or other Person; or (e) any defaultlaw affecting the rights of creditors generally, failure or delay, willful or otherwise, in if the performance of the Obligations, or by any other act, omission or delay to do any other act that may or might in any manner or to any extent vary the risk of any guarantor or that would otherwise operate as a discharge obligations of any Subsidiary Guarantor as a matter of law hereunder would otherwise be held or equity (other than determined to be void, voidable, invalid or unenforceable, or subordinated to the payment in full in cash of all the Obligations (other than contingent indemnification obligations for which no claim has been asserted) and the termination of all Commitments) or which would impair or eliminate any right claims of any other creditors, on account of the amount of its liability hereunder, then, notwithstanding any other provision to the contrary, the amount of such liability shall, without any further action by such Subsidiary Guarantor Guarantor, any Lender, any Agent or any other person, be automatically limited and reduced to subrogationthe highest amount that is valid and enforceable and not subordinated to the claims of other creditors as determined in such action or proceeding.
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Obligations Not Waived. To the fullest extent permitted by applicable Lawlaw, each Subsidiary Guarantor waives presentment to, demand of payment from and protest to the Borrower or any other Person of any of the Obligations, and also waives notice of acceptance of its guarantee, guarantee and notice of protest for nonpayment and all other formalitiesnonpayment. To the fullest extent permitted by applicable law, the guarantee obligations of each Subsidiary Guarantor hereunder shall not be affected by by, and shall remain unconditional, irrevocable and absolute irrespective of: (a) the failure of the Administrative Agent or any Person other Secured Party (i) to assert any claim or demand or to enforce or exercise any right or remedy against the Borrower, any Subsidiary Guarantor Borrower or any other Person Guarantor under the provisions of the Credit Agreement, any other Loan Document or any Platinum Lease or otherwise in connection therewith; or (ii) to exercise any right or remedy against any other Guarantor of, or collateral securing, any Obligations, (b) any extension, renewal or increase of or in any of the Obligations; (c) any rescission, waiverwaiver (except the effect of any waiver obtained pursuant to Section 12(b)), amendment or modification of, or any release from, from any of the terms or provisions of this Agreement, the Credit Agreementany other Loan Document or Platinum Lease, any other Loan Document, any guarantee Guarantee or any other agreement or instrument(in each case pursuant to the terms thereof), including with respect to any guarantor other Guarantor under the Loan Documents; this Agreement, or (dc) the failure any addition, exchange or delay release of any Guaranteed Party to assert collateral or of any claim Person that is (or demand, or exercise any right or remedy against any Loan Party, any other will become) a guarantor of the Obligations or any other Person; or (eincluding a Guarantor hereunder) any default, failure or delay, willful or otherwise, in the performance of the Obligations, or any surrender or non-perfection of any collateral, or any amendment to, or waiver or release of, or addition to, or consent to or departure from, any other guaranty held by any other act, omission Secured Party securing any of the Obligations; or delay to do (d) any other act that may circumstance which might otherwise constitute a defense available to, or might in a legal or equitable discharge of, any manner or to any extent vary the risk of any guarantor or that would otherwise operate as a discharge of any Subsidiary Guarantor as a matter of law or equity (other than the payment in full in cash of all the Obligations (other than contingent indemnification obligations for which no claim has been asserted) and the termination of all Commitments) or which would impair or eliminate any right of any Subsidiary Guarantor to subrogationGuarantor.
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