Common use of Permitted Changes in Senior Liabilities Clause in Contracts

Permitted Changes in Senior Liabilities. The Bank may, from time to time, whether before or after any discontinuance of this Agreement, at its sole discretion and without notice to the Subordinate Lender, take any or all of the following actions: (i) retain or obtain a security interest in any property to secure any of the Senior Liabilities; (ii) retain or obtain the primary or secondary obligation of any other Obligor or Obligors with respect to any of the Senior Liabilities; (iii) extend, renew (whether or not longer than the original period), alter or exchange any of the Senior Liabilities; (iv) release or compromise any obligation of any nature of any Obligor with respect to any of the Senior Liabilities; and, (v) release its security interest or lien in, allows its security interest or lien to be unperfected, surrender, release or permit any substitution or exchange for, all or any part of any property securing any of the Senior Liabilities, or extend or renew for one or more periods (whether or not longer than the original period) or release, compromise, alter or exchange any obligations of any nature of any Obligor with respect to any such property.

Permitted Changes in Senior Liabilities. The Bank Noteholders may, from time to time, whether before or after any discontinuance of this Agreement, at its sole discretion and without notice to the Subordinate Lender, take any or all of the following actionsactions without affecting the subordination set forth in this Agreement: (i) retain or obtain a security interest in any property to secure any of the Senior Liabilities; (ii) retain or obtain the primary or secondary obligation of any other Obligor or Obligors with respect to any of the Senior Liabilities; (iii) extend, renew (whether or not longer than the original period)renew, alter or exchange any of the Senior Liabilities; (iv) release or compromise any obligation of any nature of any Obligor with respect to any of the Senior Liabilities; and, and (v) release its any security interest or lien in, allows its allow a security interest or lien to be unperfected, surrender, release or permit any substitution or exchange for, all or any part of any property securing any of the Senior Liabilities, or extend or extend, renew for one or more periods (whether or not longer than the original period) or release, compromise, alter or exchange any obligations of any nature of any Obligor with respect to any such property.

Permitted Changes in Senior Liabilities. The Bank Agent or any Lender may, from time to time, whether before or after any discontinuance of this Agreement, at its sole discretion and without notice to the Subordinate LenderCreditors, take any action permitted under applicable law with respect to the Senior Liabilities and the Senior Loan Documents, including, without limitation, any or all of the following actions: (i) retain or obtain a security interest in any property to secure any of the Senior Liabilities; (ii) retain or obtain the primary or secondary obligation of any other the Obligor or Obligors with respect to any of the Senior Liabilities; (iii) extend, renew (whether or not longer than the original period), increase, alter or exchange any of the Senior Liabilities; (iv) release or compromise any obligation of any nature of any the Obligor with respect to any of the Senior Liabilities; and, and (v) release its security interest or lien in, allows allow its security interest or lien to be unperfected, surrender, release or permit any substitution or exchange for, all or any part of any property securing any of the Senior Liabilities, or extend or renew for one or more periods (whether or not longer than the original period) or release, compromise, alter or exchange any obligations of any nature of any the Obligor with respect to any such property.