Common use of Pledgor's Obligations Not Affected Clause in Contracts

Pledgor's Obligations Not Affected. The obligations of the Pledgor and ---------------------------------- each of the Pledgor's Permitted Transferees under this Stock Pledge Agreement shall remain in full force and effect without regard to, and shall not be impaired or affected by: (a) any subordination, amendment or modification of or addition or supplement to the Employment Agreement, the Shareholders' Agreement, or the Indebtedness or any assignment or transfer thereof; (b) any exercise or non-exercise by Holding of any right, remedy, power or privilege under or in respect of this Stock Pledge Agreement, the Shareholders' Agreement or any instrument evidencing any Indebtedness, or any waiver of any such right, remedy, power or privilege; (c) any waiver, consent, extension indulgence or other action or inaction in respect of this Stock Pledge Agreement, the Employment Agreement, the Shareholders' Agreement or any instrument evidencing any Indebtedness, or any assignment or transfer of any thereof; or (d) any bankruptcy, insolvency, reorganization arrangement, readjustment, composition, liquidation or the like, of Holding, whether or not the Pledgor and the Pledgor's Permitted Transferees shall have notice or knowledge of any of the foregoing.

Pledgor's Obligations Not Affected. The obligations of the Pledgor ---------------------------------- and ---------------------------------- each of the Pledgor's Permitted Transferees under this Stock Pledge Agreement shall remain in full force and effect without regard to, and shall not be impaired or affected by: (a) any subordination, amendment or modification of or addition or supplement to the Employment Agreement, the Shareholders' Agreement, or the Indebtedness or any assignment or transfer thereof; (b) any exercise or non-exercise by Holding of any right, remedy, power or privilege under or in respect of this Stock Pledge Agreement, the Shareholders' Agreement or any instrument evidencing any Indebtedness, or any waiver of any such right, remedy, power or privilege; (c) any waiver, consent, extension indulgence or other action or inaction in respect of this Stock Pledge Agreement, the Employment Agreement, the Shareholders' Agreement or any instrument evidencing any Indebtedness, or any assignment or transfer of any thereof; or (d) any bankruptcy, insolvency, reorganization arrangement, readjustment, composition, liquidation or the like, of Holding, whether or not the Pledgor and the Pledgor's Permitted Transferees shall have notice or knowledge of any of the foregoing.

Pledgor's Obligations Not Affected. The Except as provided in Section 10(b), the obligations of the Pledgor and ---------------------------------- each of the Pledgor's Permitted Transferees under this Stock Pledge Agreement shall remain in full force and effect without regard to, and shall not be impaired or affected by: by (a) any subordination, amendment or modification of or addition or supplement to the Employment this Agreement, the Shareholders' Noncompetition Agreement, or the Indebtedness Shareholder Pledge Agreement, the Plan or any assignment or transfer thereof; (b) any exercise or non-exercise by Holding GS Inc. of any right, remedy, power or privilege under or in respect of this Stock Agreement, the Noncompetition Agreement, the Shareholder Pledge Agreement, the Shareholders' Agreement or any instrument evidencing any Indebtedness, Plan or any waiver of any such right, remedy, power or privilege; (c) any waiver, consent, extension extension, indulgence or other action or inaction in respect of this Stock Agreement, the Noncompetition Agreement, the Shareholder Pledge Agreement, the Employment Agreement, the Shareholders' Agreement or any instrument evidencing any Indebtedness, Plan or any assignment or transfer of any thereof; or (d) any bankruptcy, insolvency, reorganization reorganization, arrangement, readjustment, composition, liquidation or the like, of HoldingGS Inc., whether or not the Pledgor and the Pledgor's Permitted Transferees shall have notice or knowledge of any of the foregoing; (e) any substitution of collateral pursuant to Sections 2(b) or 2(c); -6- <PAGE> or (f) any other act or omission to act or delay of any kind by Pledgor, GS Inc. or any other person or any other circumstance whatsoever which might, but for the provisions of this clause (f), constitute a legal and equitable discharge of Pledgor's obligations hereunder.

Pledgor's Obligations Not Affected. The obligations of the Pledgor and ---------------------------------- each of the Pledgor's Permitted Transferees under this Stock Pledge Agreement shall remain in full force and effect without regard to, and shall not be impaired or affected by: (a) any subordination, amendment or modification of or addition or supplement to the Employment Agreement, the Shareholders' Agreement, or the Indebtedness or any assignment or transfer thereof; (b) any b)any exercise or non-exercise by Holding of any right, remedy, power or privilege under or in respect of this Stock Pledge Agreement, the Shareholders' Agreement or any instrument evidencing any Indebtedness, or any waiver of any such right, remedy, power or privilege; (c) any waiver, consent, extension indulgence or other action or inaction in respect of this Stock Pledge Agreement, the Employment Agreement, the Shareholders' Agreement or any instrument evidencing any Indebtedness, or any assignment or transfer of any thereof; or (d) any bankruptcy, insolvency, reorganization arrangement, readjustment, composition, liquidation or the like, of Holding, whether or not the Pledgor and the Pledgor's Permitted Transferees shall have notice or knowledge of any of the foregoing.