Common use of Pledgor’s Obligations Absolute Clause in Contracts

Pledgor’s Obligations Absolute. The obligations of the Pledgors under this Agreement shall be direct and immediate and not conditional or contingent upon the pursuit of any remedies against any other Person, nor against other security or Liens available to the Trustee or any Noteholder. Each Pledgor hereby waives any right to require that an action be brought against any other Person or to require that resort be had to any security or to any balance of any deposit account or credit on the books of the Trustee in favor of any other Person prior to the exercise of remedies hereunder, or to require action hereunder prior to resort by the Trustee to any other security or collateral for the Secured Obligations.

Pledgor’s Obligations Absolute. The obligations of the Pledgors under this Agreement shall be direct and immediate and not conditional or contingent upon the pursuit of any remedies against any other Person, nor against other security or Liens available to the Trustee or any NoteholderLender. Each Pledgor hereby waives any right to require that an action be brought against any other Person or to require that resort be had with respect to any security or to any balance of any deposit account or credit on the books of the Trustee Lender in favor of any other Person prior to the exercise of remedies hereunder, or to require action hereunder prior to resort by the Trustee Lender to any other security or collateral for the Secured Obligations.