Common use of Security for Guaranty Clause in Contracts

Security for Guaranty. Each Guarantor party hereto authorizes the Collateral Agent in accordance with the terms and subject to the conditions set forth in the Collateral Documents, (i) to take and hold security for the payment of the Guaranteed Obligations and its obligations under this Agreement and to exchange, enforce, waive and release any such security, (ii) to apply such security and direct the order or manner of sale thereof in accordance with the Collateral Documents and (iii) to release or substitute any one or more endorsees, other Guarantors or Other Loan Parties. The Collateral Agent may, at its election, in accordance with the terms and subject to the conditions set forth in the Collateral 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 any Loan Party, or any security, without affecting or impairing in any way the liability of any Guarantor hereunder.

Security for Guaranty. Each Guarantor party hereto authorizes the Collateral Agent in accordance with the terms and subject to the conditions set forth in the Collateral Documents, (i) to take and hold security for the payment of the Guaranteed Obligations and its obligations under this Agreement and to exchange, enforce, waive and release any such security, (ii) to apply such security and direct the order or manner of sale thereof in accordance with as the Collateral Documents Agent in its sole discretion may determine and (iii) to release or substitute any one or more endorsees, other Guarantors or Other Loan Credit Parties. The Collateral Agent may, at its election, in accordance with the terms and subject to the conditions set forth in the Collateral 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 any Loan Credit Party, or any security, without affecting or impairing in any way the liability of any Guarantor hereunder.

Security for Guaranty. Each Guarantor party hereto of the Guarantors authorizes the Collateral Agent Agent, in accordance with the terms and subject to the conditions set forth in the Collateral DocumentsDocuments and applicable Law, to (i) to take and hold security for the payment of this Agreement and the Guaranteed Obligations and its obligations under this Agreement and to exchange, enforce, waive and release any such security, (ii) to apply such security and direct the order or manner of sale thereof in accordance with as the Collateral Documents Agent in its sole discretion may determine and (iii) to release or substitute any one or more endorsees, other Guarantors guarantors or Other Loan Partiesother obligors. The Collateral Agent may, at its election, in accordance with the terms and subject to the conditions set forth in the Collateral DocumentsDocuments and applicable Law, 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 any Loan Party, or any security, without affecting or impairing in any way the liability of any Guarantor of the Guarantors hereunder, except to the extent the Guaranteed Obligations have been indefeasibly paid in full in cash.