Common use of Subordination Rights Not Impaired Clause in Contracts

Subordination Rights Not Impaired. (a) No right of the Administrative Agent or any Lender to enforce the subordination provisions herein shall at any time or in any way be prejudiced or impaired by any act or failure to act on the part of Guarantor or any borrower under the Wachovia Credit Agreement or by any act or failure to act, in good faith, by the Administrative Agent or any such Lender, or by any noncompliance by Guarantor or any borrower under the Wachovia Credit Agreement with the terms of any Wachovia Loan Document, regardless of any knowledge thereof which any such Lender may have or be otherwise charged with. The Administrative Agent and the Lenders may extend, renew, modify or amend the terms of Senior Debt or any security therefor and release, sell or exchange such security and otherwise deal freely with the Guarantor or any borrower under the Wachovia Credit Agreement, all without affecting the liabilities and obligations of the Guarantor or any borrower under the Wachovia Credit Agreement or the rights of the Administrative Agent and the Lenders hereunder; provided, however, this Agreement does not extend to the refinancing of the Senior Debt unless such refinancing is arranged by the Administrative Agent. (b) All rights and interests hereunder of the Administrative Agent and the Lenders, and all agreements and obligations of CoBank under this Guaranty, shall remain in full force and effect irrespective of (i) any lack of validity or enforceability of the Wachovia Credit Agreement or any other Wachovia Loan Document, or of any provision of any thereof or (ii) any other circumstance that might otherwise constitute a defense available to, or a discharge of any borrower under the Wachovia Credit Agreement in respect of the Senior Debt.

Subordination Rights Not Impaired. (a) BY ACTS OR OMISSIONS OF COMPANY ----------------------------------------------------------------- OR HOLDERS OF SENIOR INDEBTEDNESS. --------------------------------- No right of the Administrative Agent any present or future holders of any Lender Senior Indebtedness to enforce the subordination provisions subordination, as herein provided, shall at any time or in any way be prejudiced or impaired by any act or failure to act on the part of Guarantor or any borrower under the Wachovia Credit Agreement Company or by any act or failure to act, in good faith, by the Administrative Agent or any such Lenderholder, or by any noncompliance non-compliance by Guarantor or any borrower under the Wachovia Credit Agreement Company with the terms terms, provisions and covenants of any Wachovia Loan Documentthis Indenture, regardless of any knowledge thereof which any such Lender holder may have or be otherwise charged with. The Administrative Agent and the Lenders holders of any Senior Indebtedness may extend, renew, modify or amend the terms of such Senior Debt Indebtedness or any security therefor and release, sell or exchange such security and otherwise deal freely with the Guarantor or any borrower under the Wachovia Credit AgreementCompany, all without affecting the liabilities and obligations of the Guarantor or any borrower under the Wachovia Credit Agreement parties to this Indenture or the rights Holders. No provision in any supplemental indenture which affects the superior position of the Administrative Agent and the Lenders hereunder; provided, however, this Agreement does not extend to the refinancing holders of the Senior Debt unless such refinancing is arranged by Indebtedness shall be effective against the Administrative Agent. (b) All rights and interests hereunder of the Administrative Agent and the Lenders, and all agreements and obligations of CoBank under this Guaranty, shall remain in full force and effect irrespective of (i) any lack of validity or enforceability of the Wachovia Credit Agreement or any other Wachovia Loan Document, or of any provision of any thereof or (ii) any other circumstance that might otherwise constitute a defense available to, or a discharge of any borrower under the Wachovia Credit Agreement in respect holders of the Senior DebtIndebtedness unless the holders of such Senior Indebtedness (required pursuant to the terms of such Senior Indebtedness to give such consent) have consented thereto.

Subordination Rights Not Impaired. (a) BY ACTS OR OMISSIONS OF THE ISSUERS OR ------------------------------------------------------------------------ HOLDERS OF SENIOR DEBT. ---------------------- No right of the Administrative Agent any present or future holders of any Lender Senior Debt to enforce the subordination provisions as provided herein shall at any time or in any way be prejudiced or impaired by any act or failure to act on the part of Guarantor or any borrower under the Wachovia Credit Agreement Issuers or by any act or failure to act, in good faith, by the Administrative Agent or any such Lenderholder, or by any noncompliance by Guarantor or any borrower under the Wachovia Credit Agreement Issuers with the terms of any Wachovia Loan Documentthis Indenture, regardless of any knowledge thereof which any such Lender holder may have or otherwise be otherwise charged with. The Administrative Agent and Without in any way limiting the Lenders may extendgenerality of the foregoing paragraph, renew, modify or amend the terms holders of Senior Debt may, at any time and from time to time, without the consent of or notice to the Trustee or any security therefor and releaseHolder of a Security, sell without incurring responsibility to the Trustee or exchange such security and otherwise deal freely with the Guarantor or any borrower under the Wachovia Credit Agreement, all without affecting the liabilities and obligations Holders of the Guarantor Securities and without impairing or any borrower under releasing the Wachovia Credit Agreement subordination provided in this Article Ten or the rights of the Administrative Agent and the Lenders hereunder; provided, however, this Agreement does not extend to the refinancing of the Senior Debt unless such refinancing is arranged by the Administrative Agent. (b) All rights and interests obligations hereunder of the Administrative Agent and the Lenders, and all agreements and obligations of CoBank under this Guaranty, shall remain in full force and effect irrespective of (i) any lack of validity or enforceability Holders of the Wachovia Credit Agreement or any other Wachovia Loan Document, or of any provision of any thereof or (ii) any other circumstance that might otherwise constitute a defense available to, or a discharge of any borrower under Securities to the Wachovia Credit Agreement in respect holders of the Senior Debt, do any one or more of the following: (i) change the manner, place or terms of payment or extend the time of payment of, or renew or alter, Senior Debt, or otherwise amend or supplement in any manner Senior Debt, or any instrument evidencing the same or any agreement under which Senior Debt is outstanding; (ii) sell, exchange, release or otherwise deal with any property pledged, mortgaged or otherwise securing Senior Debt; (iii) release any Person liable in any manner for the payment or collection of Senior Debt; and (iv) exercise or refrain from exercising any rights against the Issuers and any other Person.