Common use of Status of Liens Clause in Contracts

Status of Liens. The fact that any collateral, security, security interest or Lien contemplated or intended to be given, created or granted as security for the repayment of any portion of the Indebtedness shall not be properly perfected or created, or shall prove to be unenforceable or subordinate to any other security interest or Lien, it being recognized and agreed by the Guarantor that he is not entering into this Guaranty Agreement in reliance on, or in contemplation of the benefits of, the validity, enforceability, collectibility or value of any of the collateral for any portion of the Indebtedness. Notwithstanding the foregoing, the Guarantor does not hereby waive or release (expressly or impliedly) any right to be subrogated to the rights of the Bank in any collateral or security for any portion of the Indebtedness, after payment in full of the Indebtedness. The Guarantor’s rights of subrogation are, however, subordinate to the rights, claims, Liens and security interests of the Bank;

Status of Liens. The fact that any collateral, security, security interest interest, or Lien lien contemplated or intended to be given, created created, or granted as security for the repayment of any portion of the Indebtedness Guaranteed Debt shall not be properly perfected or created, or shall prove to be unenforceable or subordinate to any other security interest or Lienlien, it being recognized and agreed by the Guarantor Guarantors that he is Guarantors are not entering into this Guaranty Agreement in reliance on, or in contemplation of the benefits of, the validity, enforceability, collectibility collectibility, or value of any of the collateral for any portion of the Indebtedness. Notwithstanding Guaranteed Debt; notwithstanding the foregoing, the Guarantor does Guarantors do not hereby waive or release (expressly or impliedly) any right to be subrogated to the rights of the Bank Credit Parties in any collateral or security for any portion of the Indebtedness, Guaranteed Debt after payment in full of the Indebtedness. The Guarantor’s Guaranteed Debt; Guarantors’ rights of subrogation are, however, subordinate to the rights, claims, Liens liens, and security interests of the BankCredit Parties;

Status of Liens. The fact that any collateral, security, security interest or Lien lien contemplated or intended to be given, created or granted as security for the repayment of any portion of the Indebtedness Guaranteed Debt shall not be properly perfected or created, or shall prove to be unenforceable or subordinate to any other security interest or Lienlien, it being recognized and agreed by the Guarantor Guarantors that he is Guarantors are not entering into this Guaranty Agreement in reliance on, or in contemplation of the benefits of, the validity, enforceability, collectibility or value of any of the collateral for any portion of the Indebtedness. Notwithstanding Guaranteed Debt; notwithstanding the foregoing, the neither Guarantor does not hereby waive waives or release releases (expressly or impliedly) any right to be subrogated to the rights of the Bank Credit Parties or any other Person in any collateral or security for any portion of the Indebtedness, Guaranteed Debt after payment in full in cash of the Indebtedness. The Guaranteed Debt; such Guarantor’s rights of subrogation are, however, subordinate to the rights, claims, Liens liens and security interests of the Bank;Credit Parties.

Status of Liens. The fact that any collateral, security, security interest or Lien lien contemplated or intended to be given, created or granted as security for the repayment of any portion of the Indebtedness Guaranteed Obligations shall not be properly perfected or created, or shall prove to be unenforceable or subordinate to any other security interest or Lienlien, it being recognized and agreed by the Guarantor Guarantors that he is Guarantors are not entering into this Guaranty Agreement in reliance on, or in contemplation of the benefits of, the validity, enforceability, collectibility or value of any of the collateral for any portion of the Indebtedness. Notwithstanding Guaranteed Obligations; notwithstanding the foregoing, the Guarantor does Guarantors do not hereby waive or release (expressly or impliedly) any right to be subrogated to the rights of the Bank Guaranteed Credit Parties in any collateral or security for any portion of the Indebtedness, Guaranteed Obligations after payment in full of the Indebtedness. The Guarantor’s Guaranteed Obligations; provided that Guarantors’ rights of subrogation are, however, are subordinate to the rights, claims, Liens liens, and security interests of the BankGuaranteed Credit Parties until the payment in full of the Guaranteed Obligations (other than Contingent Indemnification Obligations);