Common use of Suretyship Waivers Clause in Contracts

Suretyship Waivers. Each Borrower hereby waives and agrees not to assert: (i) any right to require Administrative Agent or any Lending Party to proceed against any other Borrower, any Guarantor or any other Person, or to pursue any other right, remedy, power or privilege of Administrative Agent or any Lending Party whatsoever; (ii) any defense arising by reason of any lack of corporate or other authority or any other defense of any other Borrower, any Guarantor or any other Person; (iii) without limiting the generality of the foregoing, to the fullest extent permitted by law, any defenses or benefits that may be derived from or afforded by applicable law limiting the liability of or exonerating guarantors or sureties, or that may conflict with the terms of this Section 10.16; and (iv) any notice of the acceptance of its joint and several liability under this Agreement and the other Loan Documents. The Obligations will conclusively be deemed to have been created, contracted, incurred and permitted to exist in reliance upon this Section 10.16.

Suretyship Waivers. Each Borrower hereby waives and agrees not to assert: (i) any right to require Administrative Agent or any Lending Party Lender to proceed against any other Borrower, any Guarantor or any other Person, or to pursue any other right, remedy, power or privilege of Administrative Agent or any Lending Party Lender whatsoever; (ii) any defense arising by reason of any lack of corporate or other authority or any other defense of any other Borrower, any Guarantor or any other Person; (iii) without limiting the generality of the foregoing, to the fullest extent permitted by law, any defenses or benefits that may be derived from or afforded by applicable law limiting the liability of or exonerating guarantors or sureties, or that may conflict with the terms of this Section 10.1615.2; and (iv) any notice of the acceptance of its joint and several liability under this Agreement and the other Loan Other Documents. The Obligations will conclusively be deemed to have been created, contracted, incurred and permitted to exist in reliance upon this Section 10.1615.2.