Common use of Rights of Guarantee Beneficiaries Clause in Contracts

Rights of Guarantee Beneficiaries. The Guarantor consents and agrees that each Guarantee Beneficiary may, at any time and from time to time, without notice or demand, and without affecting the enforceability or continuing effectiveness hereof: (a) amend, extend, renew, compromise, discharge, accelerate or otherwise change the time for payment or the terms of the Guaranteed Obligations or any part thereof; (b) take, hold, exchange, enforce, waive, release, fail to perfect, sell, or otherwise dispose of any security for the payment of this Guaranty or any Guaranteed Obligations; (c) apply such security and direct the order or manner of sale thereof as any Guarantee Beneficiary in its sole discretion may determine; and (d) release or substitute one or more of any endorsers or other guarantors of or obligors in respect of any of the Guaranteed Obligations. The Guarantor hereby consents and agrees that (i) additional Borrowers may become party to the Credit Agreement after the date hereof, and this Guaranty shall remain in full force in effect (including with respect to Guaranteed Obligations incurred by such additional Borrowers), notwithstanding such addition and (ii) other guarantors may guarantee the Guaranteed Obligations, or any subset thereof, from time to time, and this Guaranty shall remain in full force and effect, notwithstanding any addition or release of such guarantors in any manner whatsoever. Without limiting the generality of the provisions set forth in this paragraph, the Guarantor consents to the taking of, or failure to take, any action which might in any manner or to any extent vary the risks of the Guarantor under this Guaranty or which, but for this provision, might operate as a discharge of the Guarantor.

Rights of Guarantee Beneficiaries. The Each Guarantor consents and agrees that each any Guarantee Beneficiary may, at any time and from time to time, without notice or demand, and without affecting the enforceability or continuing effectiveness hereof: (a) amend, extend, renew, compromise, discharge, accelerate or otherwise change the time for payment or the terms of the Guaranteed Obligations or any part thereof; (b) take, hold, exchange, enforce, waive, release, fail to perfect, sell, or otherwise dispose of any security for the payment of this Guaranty or any Guaranteed Obligations; (c) apply such security and direct the order or manner of sale thereof as any Guarantee Beneficiary in its sole discretion may determine; and (d) release or substitute one or more of any endorsers or of, other Guarantors of, other guarantors of or other obligors in respect of any of the Guaranteed Obligations. The Each Guarantor hereby consents and agrees that (i) additional Borrowers may become party to the Credit Agreement after the date hereof, and this Guaranty shall remain in full force in effect (including with respect to Guaranteed Obligations incurred by such additional Borrowers), notwithstanding such addition and (ii) other guarantors or Guarantors may guarantee the Guaranteed Obligations, or any subset thereof, from time to time, and this Guaranty shall remain in full force and effect, notwithstanding any addition or release of such other guarantors or Guarantors in any manner whatsoever. Without limiting the generality of the provisions set forth in this paragraph, the each Guarantor consents to the taking of, or failure to take, any action which might in any manner or to any extent vary the risks of the such Guarantor under this Guaranty or which, but for this provision, might operate as a discharge of the such Guarantor.