Common use of Obligations of Borrower Not Affected Clause in Contracts

Obligations of Borrower Not Affected. The Subordinated Party hereby agrees that at any time and from time to time, without notice to or the consent of the Subordinated Party, without incurring responsibility to the Subordinated Party, and without impairing or releasing the subordination provided for herein or otherwise impairing the rights of Senior Lender hereunder: (i) the time for Borrower’s performance of or compliance with any of its agreements contained in the Loan Documents may be extended or such performance or compliance may be waived by Senior Lender; (ii) the agreements of Borrower, under the Loan Documents may from time to time be modified by Borrower and Senior Lender for the purpose of adding any requirements thereto or changing in any manner the rights and obligations of the Borrower and Senior Lender thereunder; (iii) the manner, place, or terms for payment of Senior Debt or any portion thereof may be altered or the terms for payment extended, or the Senior Debt may be renewed in whole or in part, all in accordance with the terms of the Loan Documents; (iv) the maturity of the Senior Debt may be accelerated in accordance with the terms of any present or future agreement by the Borrower and Senior Lender; (v) any Collateral may be sold, exchanged, released, or substituted and any Lien in favor of Senior Lender may be terminated, subordinated, or fail to be perfected or become unperfected; (vi) any Person liable in any manner for Senior Debt may be discharged, released, or substituted; and (vii) all other rights against the Borrower, any other Person, or with respect to any Collateral may be exercised by Senior Lender (or Senior Lender may waive or refrain from exercising such rights).

Obligations of Borrower Not Affected. The Subordinated Party hereby agrees that at any time and from time to time, without notice to or the consent of the Subordinated Party, without incurring responsibility to the Subordinated Party, and without impairing or releasing the subordination provided for herein or otherwise impairing the rights of Senior Lender hereunder: (i) the time for Borrower’s performance of or compliance with any of its agreements contained in the Loan Documents may be extended or such performance or compliance may be waived by Senior Lender; (ii) the agreements of Borrower, under the Loan Documents may from time to time be modified by Borrower and Senior Lender for the purpose of adding any requirements thereto or changing in any manner the rights and obligations of the Borrower and Senior Lender thereunder; (iii) the manner, place, or terms for payment of Senior Debt or any portion thereof may be altered or the terms for payment extended, or the Senior Debt may be renewed in whole or in part, all in accordance with the terms of the Loan Documents; (iv) the maturity of the Senior Debt may be accelerated in accordance with the terms of any present or future agreement by the Borrower and Senior Lender; (v) any Collateral may be sold, exchanged, released, or substituted and any Lien in favor of Senior Lender may be terminated, subordinated, or fail to be perfected or become unperfected; (vi) any Person liable in any manner for Senior Debt may be discharged, released, or substituted; and (vii) all other rights against the Borrower, any other Person, or with respect to any Collateral may be exercised by Senior Lender (or Senior Lender may waive or refrain from exercising such rights).

Obligations of Borrower Not Affected. The Subordinated Party Each Subordinating Creditor hereby agrees that at any time and from time to time, without notice to or the consent of the Subordinated Partyany Subordinating Creditor, without incurring any responsibility or obligation to the Subordinated Partyany Subordinating Creditor, and without impairing or releasing the subordination provided for herein or otherwise impairing the rights of the Senior Lender Lenders hereunder: (i) the time for Borrower’s performance of or compliance with any of its agreements contained in the Loan Senior Debt Documents may be extended or such performance or compliance may be waived by the Senior LenderLenders; (ii) the agreements of Borrower, Borrower under the Loan Senior Debt Documents may from time to time be modified by the Senior Lenders and the Borrower and Senior Lender for the purpose of adding any requirements thereto or changing in any manner the rights and obligations of the Borrower and Senior Lender respective parties thereunder; (iii) the manner, place, or terms for payment of the Senior Debt or any portion thereof may be altered or the terms for payment extended, or the Senior Debt may be renewed increased, renewed, modified or amended, in whole or in part, all in accordance with the terms of the Loan Senior Debt Documents; (iv) the maturity of the Senior Debt may be accelerated in accordance with the terms of any present or future agreement by between the Borrower and the Senior LenderLenders; (v) any Collateral may be sold, exchanged, released, or substituted and any Lien in favor of Senior Lender the Security Interests may be terminated, subordinated, or fail to be perfected or become unperfected; (vi) any guarantor or obligor or other Person liable in any manner for Senior Debt may be discharged, released, or substituted; and (vii) all other rights against the Borrower, any other Personparty, or with respect to any Collateral Collateral, may be exercised by the Senior Lender Lenders (or the Senior Lender Lenders may waive or refrain from exercising such rights); provided, however, notwithstanding the foregoing to the contrary, the Senior Lenders agree that, without the prior written consent of the Subordinating Creditors (such consent not to be unreasonably withheld, conditioned or delayed): (y) the Senior Lenders shall not increase the principal amount of the Senior Debt beyond the current $1,000,000 credit limit; and (z) the Senior Lenders shall not further subordinate the Senior Debt to other debt obligations incurred by the Borrower in a manner that would, as a result of this Agreement, push the Subordinating Creditors Liens to a third position.