Common use of Release of Collateral, etc Clause in Contracts

Release of Collateral, etc. The obligations of Debtor shall not be affected by the release or substitution of any collateral or by the release of or any renewal or extensions of time to any party to any instrument, obligation or liability secured hereby or to which Debtor is a party. Secured Party shall not be bound to resort to or exhaust its recourse or to take any action against other parties or other collateral. Debtor hereby waives presentment, demand, protest, notice of protest and notice of non-acceptance or non-payment with respect to any indebtedness, obligation or liability secured hereby.