Preservation of Lender’s Rights. 5.1 This Guarantee and Indemnity is in addition to any other security, guarantee or indemnity now or in the future held by the Lender in respect of the Indebtedness, whether from the Borrower, the Guarantor or any other person, and shall not merge with, prejudice or be prejudiced by, any such security, guarantee or indemnity or any contractual or legal right of the Lender.
5.2 Any release, settlement, discharge or arrangement relating to the Guarantor’s Liabilities shall be conditional on no payment, assurance or security received by the Lender in respect of the Indebtedness being avoided or reduced under any law (whether English or foreign) in force from time to time relating to bankruptcy, insolvency or any (in the opinion of the Lender) analogous circumstance, and, after any such avoidance or reduction, the Lender shall be entitled to exercise all of its rights, powers, discretions and remedies under or pursuant to this Guarantee and Indemnity and/or any other rights, powers, discretions or remedies which it would otherwise have been entitled to exercise, as if no release, settlement, discharge or arrangement had taken place.
5.3 Following the full payment of the Indebtedness, the Lender shall be entitled to retain this Guarantee and Indemnity and any security which it may hold for the Guarantor’s Liabilities until the Lender is satisfied in its discretion that it will not have to make any payment under any law referred to in Clause 5.2.
5.4 Until the expiry of the Facility Period the Guarantor shall not:
5.4.1 be entitled to participate in any sums received by the Lender in respect of any of the Indebtedness; nor
5.4.2 be entitled to participate in any security held by the Lender in respect of any of the Indebtedness nor stand in the place of, or be subrogated for, the Lender in respect of any such security; nor
5.4.3 take any step to enforce any claim against any of the other Security Parties (or their respective estates or effects), nor claim or exercise any right of set off or counterclaim against any of the other Security Parties, nor make any claim in the bankruptcy or liquidation of any of the other Security Parties, in respect of any sums paid by the Guarantor to the Lender or in respect of any sum which includes the proceeds of realisation of any security at any time held by the Lender in respect of any of the Guarantor’s Liabilities; nor
5.4.4 take any steps to enforce any other claim which it may have against any of the other Security Parties...
Preservation of Lender’s Rights. To the extent allowed by law, neither Lender nor any of its officers, directors, employees or agents shall be liable or responsible in any way for the safekeeping of any Collateral or for any act or failure to act with respect to the Collateral, or for any loss or damage thereto or any diminution in the value thereof, or for any act by any other Person. In the case of any instruments and chattel paper included within the Collateral, Lender shall have no duty or obligation to preserve rights against prior parties. The Obligations shall not be affected by any failure of Lender to take any steps to perfect its security interests or to collect or realize upon the Collateral, nor shall loss of or damage to the Collateral release Borrower from any of the Obligations.
Preservation of Lender’s Rights. To the extent allowed by law, neither Lender nor any of its officers, directors, employees, and agents shall be liable or responsible in any way for the safekeeping of any Collateral or for any act or failure to act with respect to the Collateral, or for any loss or damage thereto or any diminution in the value thereof, or for any act by any other Person. In the case of any instruments and chattel paper included within the Collateral, Lender shall have no duty or obligation to preserve rights against prior parties. The Secured Obligations shall not be affected by any failure of Lender to take any steps to perfect its security interests or to collect or realize upon the Collateral, nor shall loss of or damage to the Collateral release Borrower from any of the Secured Obligations. Lender may extend the time for payment of the Secured Obligations or modify or amend the terms of any of the Loan Documents, or compromise or grant other indulgences, renewals, extensions or releases, and take or omit to take any other action with respect to the Secured Obligations or the Collateral, or any Person directly or indirectly obligated in connection therewith, without impairing Lender's security interests in the Collateral or any of Lender's rights under the Loan Documents.
Preservation of Lender’s Rights. To the extent allowed by Applicable Law, none of Lender, its Affiliates nor any of its officers, directors, stockholders, members, managers, employees or agents shall be liable or responsible in any way for the safekeeping of any Collateral or for any act or failure to act with respect to the Collateral, or for any loss or damage thereto or any diminution in the value thereof, or for any act by any other Person, except to the extent of gross negligence or willful misconduct on the part of Lender (as determined by a final non-appealable judgment of a court of competent jurisdiction). In the case of any Instruments and Chattel Paper included within the Collateral, Lender shall have no duty or obligation to preserve rights against prior parties. The Obligations shall not be affected by any failure of Lender to take any steps to perfect its security interests or to collect or realize upon the Collateral, nor shall loss of or damage to the Collateral release any Credit Party or Guarantor from any of the Obligations.
Preservation of Lender’s Rights. No failure on the part of Lender to exercise any right or remedy hereunder, whether before or after the happening of an Event of Default shall constitute a waiver thereof, and no waiver of any past Event of Default shall constitute waiver of any future default or of any other Event of Default. No failure to accelerate the indebtedness evidenced by this Note by reason of any Event of Default, or acceptance of a past due payment, or indulgence granted from time to time, shall be construed to be a waiver of the right to insist upon prompt payment thereafter, or shall be deemed to be a novation of this Note or as a reinstatement of the indebtedness evidenced hereby or as a waiver of such right or acceleration or any other right, or be construed so as to preclude the exercise of any right that Lender may have, whether by the laws of the State of Maryland, by agreement, or otherwise. Borrower hereby expressly waives the benefit of any statute or rule of law or equity that would produce a result contrary to or in conflict with the preceding sentences of this Section.
Preservation of Lender’s Rights. To the extent allowed by law, other than the exercise of reasonable care to assure the safe custody of the Collateral while being held by Lender, neither Lender nor any of its officers, directors, employees or agents shall be liable or responsible in any way for the safekeeping of any Collateral or for any act or failure to act with respect to the Collateral, or for any loss or damage thereto or any diminution in the value thereof, or for any act by any other Person. Lender shall be deemed to have exercised reasonable care in the custody and preservation of the Collateral in its possession if the Collateral is accorded treatment substantially equal to that which Lender accords its own property, which shall be no less than the treatment employed by a reasonable and prudent lender in the industry, it being understood that Lender shall not have responsibility for taking any necessary steps to preserve rights against any parties with respect to any of the Collateral. In the case of any instruments and chattel paper included within the Collateral, Lender shall have no duty or obligation to preserve rights against prior parties. The Obligations shall not be affected by any failure of Lender to take any steps to perfect its security interests or to collect or realize upon the Collateral, nor shall loss of or damage to the Collateral release any Loan Party from any of the Obligations.
Preservation of Lender’s Rights. In the performance of the Contract, if Borrower’s late performance of the obligations or extension granted to Borrower for any breach or delay performance of the Contract, shall not be deemed as permit or approval from Lender to waive damage.
Preservation of Lender’s Rights. Upon the conversion or merger of each Shipco, Genmar Trader (Liberia) Ltd., Genmar Malta Ltd. and GMM into either a Xxxxxxxx Islands or Liberian limited liability company, the surviving or resulting limited liability company shall assume the obligations of its predecessor corporation. The limited liability company interests of each limited liability company shall be pledged to Nordea, as collateral agent, upon the terms and conditions of a pledge and security agreement executed pursuant to the credit agreement dated June 27, 2001 (the “June 27 Credit Agreement”) or the credit agreement dated June 12, 2001 (the “June 12 Credit Agreement”), as the case may be (collectively the “Pledge and Security Agreements”). The parties to the Pledge and Security Agreements and the limited liability companies formed or to be formed in connection with the transactions contemplated herein shall execute such other documents, certificates or agreements as Nordea may reasonably require to preserve its presently existing rights under the Pledge and Security Agreements.
Preservation of Lender’s Rights. 6.1 Any indulgence given by the Lender shall not constitute or be deemed to operate as a waiver of or prejudice the Lender's rights against the Borrower in respect of any breach by the Borrower of its obligations hereunder.
Preservation of Lender’s Rights. To the extent allowed by law, neither Lender nor any of its officers, directors, employees, and agents shall be liable or responsible in any way for the safekeeping of any Collateral or for any act or failure to act with respect to the Collateral, or for any loss or damage thereto or any diminution in the value thereof, or for any act by any other Person, in the case of any instruments and chattel paper included within the Collateral, Lender shall have no duty or obligation to preserve rights against prior parties. The Obligations shall not be affected by any failure of Lender to take any steps to perfect its security interests or to collect or realize upon the Collateral, nor shall loss of or damage to the Collateral release any Borrower from any of the Obligations. Lender may extend the time for payment of the Obligations or modify or amend the terms of any of the Loan Documents, or compromise or grant other indulgences, renewals, extensions or releases, and take or omit to take any other action with respect to the Obligations or the Collateral, or any Person directly or indirectly obligated in connection therewith, without impairing Lender's security interests
