Common use of Security for Guarantee Clause in Contracts

Security for Guarantee. The Guarantor authorizes the Administrative Agent, in accordance with the terms and subject to the conditions set forth in the Credit Agreement and the Security Documents, (a) to take and hold security for the payment of this Guarantee Agreement and the Guaranteed Obligations and to exchange, enforce, waive and release any such security, (b) to apply such security and direct the order or manner of sale thereof as the Administrative Agent in its reasonable discretion may determine in accordance with the other Financing Documents and (c) to release or substitute any one or more endorsees, other guarantors or other obligors. The Administrative Agent may, at its election, in accordance with the terms and subject to the conditions set forth in the Credit Agreement and the Security Documents, foreclose on any security held by it by one or more judicial or nonjudicial sales, or exercise any other right or remedy available to it against the Borrower, any Other Credit Party or the Guarantor, or any security, without affecting or impairing in any way the liability of the Guarantor hereunder, except to the extent the Guaranteed Obligations have been indefeasibly paid in full in cash.

Security for Guarantee. The Guarantor Each of the Guarantors authorizes the Administrative Agent, in accordance with the terms and subject to the conditions set forth in the Credit Agreement and the Security OPMW Second Lien Documents, (a) to take and hold security for the payment of this Guarantee Agreement and the Guaranteed Obligations and to exchange, enforce, waive and release any such security, (b) to apply such security and direct the order or manner of sale thereof as the Administrative Agent in its reasonable discretion may determine in accordance with the other Financing Documents and (c) to release or substitute any one or more endorsees, other guarantors or other obligors. The Administrative Agent may, at its election, in accordance with the terms and subject to the conditions set forth in the Credit Agreement and the Security OPMW Second Lien Documents, foreclose on any security held by it by one or more judicial or nonjudicial sales, or exercise any other right or remedy available to it against the Borrower, Borrower or any Other Credit Party or of the GuarantorGuarantors, or any security, without affecting or impairing in any way the liability of any of the Guarantor Guarantors hereunder, except to the extent the Guaranteed Obligations have been indefeasibly paid in full in cash.

Security for Guarantee. The Guarantor authorizes the Administrative Agent, in accordance with the terms and subject to the conditions set forth in the Credit Agreement and the Security Documents, (a) to take and hold security for the payment of this Guarantee Agreement and the Guaranteed Obligations and to exchange, enforce, waive and release any such security, (b) to apply such security and direct the order or manner of sale thereof as the Administrative Agent in its reasonable discretion may determine in accordance with the other Financing Documents and (c) to release or substitute any one or more endorsees, other guarantors or other obligors. The Administrative Agent may, at its election, in accordance with the terms and subject to the conditions set forth in the Credit Agreement and the Security Documents, foreclose on any security held by it by one or more judicial or nonjudicial sales, or exercise any other right or remedy available to it against the Borrower, any Other Credit Party Borrower or the Guarantor, or any security, without affecting or impairing in any way the liability of the Guarantor hereunder, except to the extent the Guaranteed Obligations have been indefeasibly paid in full in cash.

Security for Guarantee. The Guarantor Each of the Guarantors authorizes the Administrative Agent, in accordance with the terms and subject to the conditions set forth in the Credit Agreement and the Security OPNY Second Lien Documents, (a) to take and hold security for the payment of this Guarantee Agreement and the Guaranteed Obligations and to exchange, enforce, waive and release any such security, (b) to apply such security and direct the order or manner of sale thereof as the Administrative Agent in its reasonable discretion may determine in accordance with the other Financing Documents and (c) to release or substitute any one or more endorsees, other guarantors or other obligors. The Administrative Agent may, at its election, in accordance with the terms and subject to the conditions set forth in the Credit Agreement and the Security OPNY Second Lien Documents, foreclose on any security held by it by one or more judicial or nonjudicial sales, or exercise any other right or remedy available to it against the Borrower, Borrower or any Other Credit Party or of the GuarantorGuarantors, or any security, without affecting or impairing in any way the liability of any of the Guarantor Guarantors hereunder, except to the extent the Guaranteed Obligations have been indefeasibly paid in full in cash.

Security for Guarantee. The Guarantor Each of the Guarantors authorizes the Administrative Agent, in accordance with the terms and subject to the conditions set forth in the Credit Agreement and the Security Documents, (a) to take and hold security for the payment of this Guarantee Agreement and the Guaranteed Obligations and to exchange, enforce, waive and release any such security, (b) to apply such security and direct the order or manner of sale thereof as the Administrative Agent in its reasonable discretion may determine in accordance with the other Financing Documents and (c) to release or substitute any one or more endorsees, other guarantors or other obligors. The Administrative Agent may, at its election, in accordance with the terms and subject to the conditions set forth in the Credit Agreement and the Security Documents, foreclose on any security held by it by one or more judicial or nonjudicial sales, or exercise any other right or remedy available to it against the Borrower, Borrower or any Other Credit Party or of the GuarantorGuarantors, or any security, without affecting or impairing in any way the liability of any of the Guarantor Guarantors hereunder, except to the extent the Guaranteed Obligations have been indefeasibly paid in full in cash.