Common use of Real Property Security Clause in Contracts

Real Property Security. Guarantor agrees that the Secured Parties, in their sole discretion, without notice or demand and without affecting the liability of Guarantor under this Guaranty, may foreclose pursuant to the terms of the Intercreditor Agreement or otherwise on the deeds of trust and mortgages securing the Indebtedness and the interests in real property secured thereby by nonjudicial sale. Guarantor understands that the exercise by the Secured Parties of certain rights and remedies contained in the Intercreditor Agreement and any such deed of trust or mortgage may affect or eliminate Guarantor's right of subrogation against Huntway and that Guarantor may therefore incur a partially or totally non-reimbursable liability hereunder. Nevertheless, Guarantor hereby authorizes and empowers the Secured Parties to exercise, in its sole discretion, any rights and remedies, or any combination thereof, which may then be available, since it is the intent and purpose of Guarantor that the obligations hereunder shall be absolute, independent and unconditional under any and all circumstances. Without limiting the generality of the foregoing, Guarantor waives all rights and defenses arising out of an election of remedies by the Secured Parties, even though that election of remedies, such as a nonjudicial foreclosure with respect to security for the Indebtedness, has destroyed the Guarantor's rights of subrogation and reimbursement against Huntway by the operation of Section 580d of the Code of Civil Procedure, or otherwise. Notwithstanding any foreclosure of the lien of any deed of trust or security agreement with respect to any or all of any deed of trust or security agreement with respect to any or all of any real or personal property secured thereby, whether by the exercise of the power of sale contained therein, by an action for judicial foreclosure or by an acceptance of a deed in lieu of foreclosure, Guarantor shall remain bound under this Guaranty including its obligation to pay any deficiency under a nonjudicial foreclosure.

Real Property Security. Guarantor agrees that Subsidiary Guarantors agree that, if all or a portion of the Secured PartiesGuarantied Obligations are at any time secured by a deed of trust or mortgage covering interests in real property, Administrative Agent or its designee, in their its sole discretion, without notice or demand and without affecting the liability of Guarantor the Subsidiary Guarantors under this Subsidiary Guaranty, may foreclose foreclose, pursuant to the terms of the Intercreditor Agreement Loan Documents or otherwise otherwise, on the deeds such deed of trust and mortgages securing the Indebtedness or mortgage and the interests in real property secured thereby by nonjudicial or other sale. Guarantor understands The Subsidiary Guarantors understand that the exercise by the Secured Parties Banks or Administrative Agent, or any of them, of certain rights and remedies contained in the Intercreditor Credit Agreement and any such deed of trust or mortgage may affect or eliminate Guarantor's Subsidiary Guarantors' right of subrogation against Huntway Borrower and that Guarantor the Subsidiary Guarantors may therefore incur a partially or totally non-reimbursable nonreimbursable liability hereunder. Nevertheless, Guarantor the Subsidiary Guarantors hereby authorizes authorize and empowers the Secured Parties empower Administrative Agent and any Bank to exercise, in its sole discretion, any rights and remedies, or any combination thereof, which may then be available, since it is the intent and purpose of Guarantor the Subsidiary Guarantors that the obligations hereunder shall be absolute, independent and unconditional under any and all circumstances. Without limiting the generality of the foregoing, Guarantor waives all rights and defenses arising out of an election of remedies by the Secured Parties, even though that election of remedies, such as a nonjudicial foreclosure with respect to security for the Indebtedness, has destroyed the Guarantor's rights of subrogation and reimbursement against Huntway by the operation of Section 580d of the Code of Civil Procedure, or otherwise. Notwithstanding any foreclosure of the lien of any such deed of trust or security agreement mortgage with respect to any or all of any deed of trust or security agreement with respect to any or all of any real or personal property secured thereby, whether by the exercise of the power of sale contained therein, by an action for judicial foreclosure or by an acceptance of a deed in lieu of foreclosure, Guarantor the Subsidiary Guarantors shall remain bound under this Guaranty Subsidiary Guaranty, including its obligation to pay any deficiency under after a nonjudicial foreclosure.

Real Property Security. Guarantor agrees that the Secured Parties, in their sole discretion, without notice or demand and without affecting the liability of Guarantor under this Guaranty, may foreclose pursuant to the terms of the Intercreditor Agreement or otherwise on the deeds of trust and mortgages securing the Indebtedness and the interests in real property secured thereby by nonjudicial sale. Guarantor understands that the exercise by the Secured Parties of certain rights and remedies contained in the Intercreditor Agreement and any such deed of trust or mortgage may affect or eliminate Guarantor's right of subrogation against Huntway and that Guarantor may therefore incur a partially or totally non-reimbursable liability hereunder. Nevertheless, Guarantor hereby authorizes and empowers the Secured Parties Collateral Agent to exercise, in its sole discretion, any rights and remedies, or any combination thereof, which may then be available, since it is the intent and purpose of Guarantor that the obligations hereunder shall be absolute, independent and unconditional under any and all circumstances. Without limiting the generality of the foregoing, Guarantor waives all rights and defenses arising out of an election of remedies by the Secured Parties, even though that election of remedies, such as a nonjudicial foreclosure with respect to security for the Indebtedness, has destroyed the Guarantor's rights of subrogation and reimbursement against Huntway by the operation of Section 580d of the Code of Civil Procedure, or otherwise. Notwithstanding any foreclosure of the lien of any deed of trust or security agreement with respect to any or all of any deed of trust or security agreement with respect to any or all of any real or personal property secured thereby, whether by the exercise of the power of sale contained therein, by an action for judicial foreclosure or by an acceptance of a deed in lieu of foreclosure, Guarantor shall remain bound under this Guaranty including its obligation to pay any deficiency under a nonjudicial foreclosure.

Real Property Security. The Guarantor agrees that that, if all or a portion of the Secured PartiesGuarantied Obligations are at any time secured by a deed of trust or mortgage covering interests in real property, the Bank or its designee, in their its sole discretion, without notice or demand and without affecting the liability of the Guarantor under this Guaranty, may foreclose foreclose, pursuant to the terms of the Intercreditor Agreement Loan Documents or otherwise otherwise, on the deeds such deed of trust and mortgages securing the Indebtedness or mortgage and the interests in real property secured thereby by nonjudicial or other sale. The Guarantor understands that the exercise by the Secured Parties Bank of certain rights and remedies contained in the Intercreditor Credit Agreement and any such deed of trust or mortgage may affect or eliminate the Guarantor's right of subrogation against Huntway a Borrower and that the Guarantor may therefore incur a partially or totally non-reimbursable nonreimbursable liability hereunder. Nevertheless, the Guarantor hereby authorizes and empowers the Secured Parties Bank to exercise, in its sole discretion, any rights and remedies, or any combination thereof, which may then be available, since it is the intent and purpose of the Guarantor that the obligations hereunder shall be absolute, independent and unconditional under any and all circumstances. Without limiting the generality of the foregoing, Guarantor waives all rights and defenses arising out of an election of remedies by the Secured Parties, even though that election of remedies, such as a nonjudicial foreclosure with respect to security for the Indebtedness, has destroyed the Guarantor's rights of subrogation and reimbursement against Huntway by the operation of Section 580d of the Code of Civil Procedure, or otherwise. Notwithstanding any foreclosure of the lien of any such deed of trust or security agreement mortgage with respect to any or all of any deed of trust or security agreement with respect to any or all of any real or personal property secured thereby, whether by the exercise of the power of sale contained therein, by an action for judicial foreclosure or by an acceptance of a deed in lieu of foreclosure, the Guarantor shall remain bound under this Guaranty Guaranty, including its obligation to pay any deficiency under after a nonjudicial foreclosure.

Real Property Security. Subsidiary Guarantor agrees that that, if all or a portion of the Secured PartiesGuarantied Obligations are at any time secured by a deed of trust or mortgage covering interests in real property, Agent or its designee, in their its sole discretion, without notice or demand and without affecting the liability of Subsidiary Guarantor under this Subsidiary Guaranty, may foreclose foreclose, pursuant to the terms of the Intercreditor Agreement Loan Documents or otherwise otherwise, on the deeds such deed of trust and mortgages securing the Indebtedness or mortgage and the interests in real property secured thereby by nonjudicial or other sale. Subsidiary Guarantor understands that the exercise by the Secured Parties Banks or Agent, or any of them, of certain rights and remedies contained in the Intercreditor Credit Agreement and any such deed of trust or mortgage may affect or eliminate Subsidiary Guarantor's right of subrogation against Huntway Borrower and that Subsidiary Guarantor may therefore incur a partially or totally non-reimbursable nonreimbursable liability hereunder. Nevertheless, Subsidiary Guarantor hereby authorizes and empowers the Secured Parties Agent and any Bank to exercise, in its sole discretion, any rights and remedies, or any combination thereof, which may then be available, since it is the intent and purpose of Subsidiary Guarantor that the obligations hereunder shall be absolute, independent and unconditional under any and all circumstances. Without limiting the generality of the foregoing, Guarantor waives all rights and defenses arising out of an election of remedies by the Secured Parties, even though that election of remedies, such as a nonjudicial foreclosure with respect to security for the Indebtedness, has destroyed the Guarantor's rights of subrogation and reimbursement against Huntway by the operation of Section 580d of the Code of Civil Procedure, or otherwise. Notwithstanding any foreclosure of the lien of any such deed of trust or security agreement mortgage with respect to any or all of any deed of trust or security agreement with respect to any or all of any real or personal property secured thereby, whether by the exercise of the power of sale contained therein, by an action for judicial foreclosure or by an acceptance of a deed in lieu of foreclosure, Subsidiary Guarantor shall remain bound under this Guaranty Subsidiary Guaranty, including its obligation to pay any deficiency under after a nonjudicial foreclosure.

Real Property Security. The Guarantor agrees that the Secured PartiesAgent or its designee, in their its sole discretion, without notice or demand and without affecting the liability of the Guarantor under this GuarantyGuarantee, may foreclose foreclose, pursuant to the terms of the Intercreditor Agreement or otherwise Loan Documents and/or applicable law, on the deeds of trust and any mortgages securing the Indebtedness and the interests in real property secured thereby by nonjudicial or other sale. The Guarantor understands that the exercise by any Guaranteed Party or the Secured Parties Agent, or any of them, of certain rights and remedies contained in the Intercreditor Credit Agreement and any such deed of trust or mortgage may affect or eliminate the Guarantor's right of subrogation and reimbursement against Huntway the Borrowers and any other Obligors and that the Guarantor may therefore incur a partially or totally non-reimbursable nonreimbursable liability hereunder. Nevertheless, the Guarantor hereby authorizes and empowers the Secured Parties Agent, any Lender and the Letter of Credit Issuer to exercise, in its sole discretion, any rights and remedies, or any combination thereof, which may then be available, since it is the intent and purpose of the Guarantor that the obligations hereunder shall be absolute, independent and unconditional under any and all circumstances. Without limiting the generality of the foregoing, The Guarantor waives all rights and defenses arising out of an election of remedies by the Secured Guaranteed Parties, even though that election of remedies, such as a nonjudicial foreclosure with respect to security for the Indebtednessa Guaranteed Obligation, has destroyed the Guarantor's rights of subrogation and reimbursement against Huntway any Borrower or other Obligor by the operation of Section 580d of the Code of Civil Procedure, law or otherwise. Notwithstanding any foreclosure of the lien of any deed of trust or security agreement mortgage with respect to any or all of any deed of trust or security agreement with respect to any or all of any real or personal property secured thereby, whether by the exercise of the any power of sale contained therein, by an action for judicial foreclosure or by an acceptance of a deed in lieu of foreclosure, the Guarantor shall remain bound under this Guaranty Guarantee, including its obligation to pay any deficiency under after a nonjudicial foreclosure.