Common use of Unconditional Character of Obligations of Guarantor Clause in Contracts

Unconditional Character of Obligations of Guarantor. (a) The obligations of Guarantor hereunder shall be irrevocable, absolute and unconditional, irrespective of the validity, regularity or enforceability, in whole or in part, of the Note, the Loan Agreement, the Mortgages or the other Loan Documents or any provision thereof, or the absence of any action to enforce the same, any waiver or consent with respect to any provision thereof, the recovery of any judgment against any Borrower, Guarantor or any other Person or any action to enforce the same, any failure or delay in the enforcement of the obligations of Borrowers under the Note, the Loan Agreement, the Mortgages or any other Loan Documents or Guarantor under this Guaranty, or any setoff, counterclaim, and irrespective of any other circumstances which might otherwise limit recourse against Guarantor by Lender or constitute a legal or equitable discharge or defense of a guarantor or surety. Lender may enforce the obligations of Guarantor under this Guaranty by a proceeding at law, in equity or otherwise, independent of any loan foreclosure or similar proceeding or any deficiency action against Borrowers or any other Person at any time, either before or after an action against the Properties or any of them or any part thereof, Borrowers or any other Person. THIS GUARANTY IS A GUARANTY OF PAYMENT AND PERFORMANCE AND NOT MERELY A GUARANTY OF COLLECTION. Guarantor waives diligence, notice of acceptance of this Guaranty, filing of claims with any court, any proceeding to enforce any provision of the Note, the Loan Agreement, the Mortgages or any other Loan Documents, against Guarantor, Borrowers or any other Person, any right to require a proceeding first against Borrowers or any other Person, or to exhaust any security (including, without limitation, the Properties or any of them or any part thereof) for the performance of the Guaranteed Obligations or any other obligations of Borrowers or any other Person, or any protest, presentment, notice of default (except as may be expressly required under the Loan Documents) or other notice or demand whatsoever, and Guarantor hereby covenants and agrees that Guarantor shall not be discharged of its obligations hereunder.

Unconditional Character of Obligations of Guarantor. (a) The obligations of Guarantor hereunder shall be irrevocable, absolute and unconditional, irrespective of the validity, regularity or enforceability, in whole or in part, of the Note, the Loan Agreement, the Mortgages or the other Loan Documents or any provision thereof, or the absence of any action to enforce the same, any waiver or consent with respect to any provision thereof, the recovery of any judgment against any Borrower, a Guarantor or any other Person or any action to enforce the same, any failure or delay in the enforcement of the obligations of Borrowers Borrower under the Note, the Loan Agreement, the Mortgages or any other Loan Documents or Guarantor under this Guaranty, or any setoff, counterclaim, and irrespective of any other circumstances which might otherwise limit recourse against a Guarantor by Lender or constitute a legal or equitable discharge or defense of a guarantor or surety. Lender may enforce the obligations of Guarantor under this Guaranty by a proceeding at law, in equity or otherwise, independent of any loan foreclosure or similar proceeding or any deficiency action against Borrowers Borrower or any other Person at any time, either before or after an action against the Properties or any of them Property or any part thereof, Borrowers Borrower or any other Person. THIS GUARANTY IS A GUARANTY OF PAYMENT AND PERFORMANCE AND NOT MERELY A GUARANTY OF COLLECTION. Guarantor waives diligence, notice of acceptance of this Guaranty, filing of claims with any court, any proceeding to enforce any provision of the Note, the Loan Agreement, the Mortgages or any other Loan DocumentsDocument, against Guarantor, Borrowers Borrower or any other Person, any right to require a proceeding first against Borrowers Borrower or any other Person, or to exhaust any security (including, without limitation, the Properties or any of them or any part thereofProperty) for the performance of the Guaranteed Obligations or any other obligations of Borrowers Borrower or any other Person, or any protest, presentment, notice of default (except as may be expressly required under the Loan Documents) or other notice or demand whatsoever, and Guarantor hereby covenants and agrees that Guarantor shall not be discharged of its obligations hereunderwhatsoever (except to the extent expressly provided to the contrary in this Guaranty).

Unconditional Character of Obligations of Guarantor. (a) The obligations of Guarantor hereunder shall be irrevocable, absolute and unconditional, irrespective of the validity, regularity or enforceability, in whole or in part, of the Note, the Loan Agreement, the Mortgages or the other Loan Documents or any provision thereof, or the absence of any action to enforce the same, any waiver or consent with respect to any provision thereof, the recovery of any judgment against any Borrower, Guarantor or any other Person or any action to enforce the same, any failure or delay in the enforcement of the obligations of Borrowers Borrower under the Note, the Loan Agreement, the Mortgages or any other Loan Documents or Guarantor under this Guaranty, or any setoff, counterclaim, and irrespective of any other circumstances which might otherwise limit recourse against Guarantor by Lender or constitute a legal or equitable discharge or defense of a guarantor or surety. Lender may enforce the obligations of Guarantor under this Guaranty by a proceeding at law, in equity or otherwise, independent of any loan foreclosure or similar proceeding or any deficiency action against Borrowers Borrower or any other Person at any time, either before or after an action against the Properties or any of them Property or any part thereof, Borrowers Borrower or any other Person. THIS GUARANTY IS A GUARANTY OF PAYMENT AND PERFORMANCE AND NOT MERELY A GUARANTY OF COLLECTIONThis Guaranty is a guaranty of payment and performance and not merely a guaranty of collection. Except as otherwise provided herein or in any of the other Loan Documents and to the extent permitted by law, Guarantor waives diligence, notice of acceptance of this Guaranty, filing of claims with any court, any proceeding to enforce any provision of the Note, the Loan Agreement, the Mortgages or any other Loan DocumentsDocument, against Guarantor, Borrowers Borrower or any other Person, any right to require a proceeding first against Borrowers Borrower or any other Person, or to exhaust any security (including, without limitation, the Properties or any of them or any part thereofProperty) for the performance of the Guaranteed Obligations or any other obligations of Borrowers Borrower, any Non-Recourse Guarantor or any other Person, or any protest, presentment, notice of default (except as may be expressly required under the Loan Documents) or other notice or demand whatsoeverwhatsoever (except to the extent expressly provided to the contrary in this Guaranty), and Guarantor hereby covenants and agrees that Guarantor shall not be discharged of its obligations hereunderhereunder except as set forth in Section 2(b) above.

Unconditional Character of Obligations of Guarantor. (a) The obligations of Guarantor hereunder shall be irrevocable, absolute and unconditional, irrespective of the validity, regularity or enforceability, in whole or in part, of the Note, the Loan Agreement, the Mortgages Deeds of Trust or the other Loan Documents or any provision thereof, or the absence of any action to enforce the same, any waiver or consent with respect to any provision thereof, the recovery of any judgment against any Borrower, Guarantor or any other Person or any action to enforce the same, any failure or delay in the enforcement of the obligations of Borrowers under the Note, the Loan Agreement, the Mortgages Deeds of Trust or any other Loan Documents or Guarantor under this Guaranty, or any setoff, counterclaim, and irrespective of any other circumstances which might otherwise limit recourse against Guarantor by Lender or constitute a legal or equitable discharge or defense of a guarantor or surety. Lender may enforce the obligations of Guarantor under this Guaranty by a proceeding at law, in equity or otherwise, independent of any loan foreclosure or similar proceeding or any deficiency action against Borrowers or any other Person at any time, either before or after an action against the Properties or any of them or any part thereof, Borrowers or any other Person. THIS GUARANTY IS A GUARANTY OF PAYMENT AND PERFORMANCE AND NOT MERELY A GUARANTY OF COLLECTION. Guarantor waives diligence, notice of acceptance of this Guaranty, filing of claims with any court, any proceeding to enforce any provision of the Note, the Loan Agreement, the Mortgages Deeds of Trust or any other Loan Documents, against Guarantor, Borrowers or any other Person, any right to require a proceeding first against Borrowers or any other Person, or to exhaust any security (including, without limitation, the Properties or any of them or any part thereof) for the performance of the Guaranteed Obligations or any other obligations of Borrowers or any other Person, or any protest, presentment, notice of default (except as may be expressly required under the Loan Documents) or other notice or demand whatsoever, and Guarantor hereby covenants and agrees that Guarantor shall not be discharged of its obligations hereunder.

Unconditional Character of Obligations of Guarantor. (a) The obligations of Guarantor hereunder shall be irrevocable, absolute and unconditional, irrespective of the validity, regularity or enforceability, in whole or in part, of the Note, the Loan Agreement, the Mortgages or the other Loan Documents or any provision thereof, or the absence of any action to enforce the same, any waiver or consent with respect to any provision thereof, the existence in the Loan Documents of any so-called non-recourse provision or any other provision therein purporting to limit in whole or in part the recourse available against the Borrower, the recovery of any judgment against any Borrower, Guarantor or any other Person or any action to enforce the same, any failure or delay in the enforcement of the obligations of Borrowers Borrower under the Note, the Loan Agreement, the Mortgages or any other Loan Documents or Guarantor under this Guaranty, or any setoff, counterclaim, and irrespective of any other circumstances which might otherwise limit recourse against Guarantor by Lender or constitute a legal or equitable discharge or defense of a guarantor or surety. Lender may enforce the obligations of Guarantor under this Guaranty by a proceeding at law, in equity or otherwise, independent of any loan foreclosure or similar proceeding or any deficiency action against Borrowers Borrower or any other Person at any time, either before or after an action against the Properties or any of them Property or any part thereof, Borrowers Borrower or any other Person. THIS GUARANTY IS A GUARANTY OF PAYMENT AND PERFORMANCE AND NOT MERELY A GUARANTY OF COLLECTIONThis Guaranty is a guaranty of payment and performance and not merely a guaranty of collection. Guarantor waives diligence, notice of acceptance of this Guaranty, filing of claims with any court, any proceeding to enforce any provision of the Note, the Loan Agreement, the Mortgages or any other Loan DocumentsDocument, against Guarantor, Borrowers Borrower or any other Person, any right to require a proceeding first against Borrowers Borrower or any other Person, or to exhaust any security (including, without limitation, the Properties or any of them or any part thereofProperty) for the performance of the Guaranteed Obligations or any other obligations of Borrowers Borrower or any other Person, or any protest, presentment, notice of default (except as may be expressly required under the Loan Documents) or other notice or demand whatsoever, and Guarantor hereby covenants and agrees that Guarantor shall not be discharged of its obligations hereunderwhatsoever (except to the extent expressly provided to the contrary in this Guaranty).

Unconditional Character of Obligations of Guarantor. (a) The obligations of Guarantor hereunder shall be irrevocable, absolute and unconditional, irrespective of the validity, regularity or enforceability, in whole or in part, of the Note, the Mezzanine Loan Agreement, the Mortgages Pledge Agreement or the other Loan Documents or any provision thereof, or the absence of any action to enforce the same, any waiver or consent with respect to any provision thereof, the recovery of any judgment against any Mezzanine Borrower, Guarantor or any other Person or any action to enforce the same, any failure or delay in the enforcement of the obligations of Borrowers Mezzanine Borrower under the Note, the Mezzanine Loan Agreement, the Mortgages Pledge Agreement or any other Loan Documents Document or Guarantor under this Guaranty, or any setoff, counterclaim, and irrespective of any other circumstances which might otherwise limit recourse against Guarantor by Mezzanine Lender or constitute a legal or equitable discharge or defense of a guarantor or surety. Mezzanine Lender may enforce the obligations of Guarantor under this Guaranty by a proceeding at law, in equity or otherwise, independent of any loan foreclosure or similar proceeding or any deficiency action against Borrowers Mezzanine Borrower or any other Person at any time, either before or after an action against the Properties or any of them or any part thereof, Borrowers Mezzanine Borrower or any other Person. THIS GUARANTY IS A GUARANTY OF PAYMENT AND PERFORMANCE AND NOT MERELY A GUARANTY OF COLLECTION. Guarantor waives diligence, notice of acceptance of this Guaranty, filing of claims with any court, any proceeding to enforce any provision of the Note, the Mezzanine Loan Agreement, the Mortgages Pledge Agreement or any other Loan DocumentsDocument, against Guarantor, Borrowers Mezzanine Borrower or any other Person, any right to require a proceeding first against Borrowers Mezzanine Borrower or any other Person, or to exhaust any security (including, without limitation, the Collateral or Properties or any of them or any part thereof) for the performance of the Guaranteed Obligations or any other obligations of Borrowers Mezzanine Borrower or any other Person, or any protest, presentment, notice of default (except as may be expressly required under the Loan Documents) or other notice or demand whatsoever, and Guarantor hereby covenants and agrees that Guarantor shall not be discharged of its obligations hereunder.

Unconditional Character of Obligations of Guarantor. (a) The obligations of Guarantor hereunder shall be irrevocable, absolute and unconditional, irrespective of the validity, regularity or enforceability, in whole or in part, of the Note, the Loan Agreement, the Mortgages or the other Loan Documents or any provision thereof, or the absence of any action to enforce the same, any waiver or consent with respect to any provision thereof, the recovery of any judgment against any Borrower, Guarantor or any other Person or any action to enforce the same, any failure or delay in the enforcement of the obligations of Borrowers Borrower under the Note, the Loan Agreement, the Mortgages or any other Loan Documents or Guarantor under this Guaranty, or any setoff, counterclaim, and irrespective of any other circumstances which might otherwise limit recourse against Guarantor by Lender or constitute a legal or equitable discharge or defense of a guarantor or surety. Lender may enforce the obligations of Guarantor under this Guaranty by a proceeding at law, in equity or otherwise, independent of any loan foreclosure or similar proceeding or any deficiency action against Borrowers Borrower or any other Person at any time, either before or after an action against the Properties or any of them Property or any part thereof, Borrowers Borrower or any other Person. THIS GUARANTY IS A GUARANTY OF PAYMENT AND PERFORMANCE AND NOT MERELY A GUARANTY OF COLLECTIONThis Guaranty is a guaranty of payment and performance and not merely a guaranty of collection. Guarantor waives diligence, notice of acceptance of this Guaranty, filing of claims with any court, any proceeding to enforce any provision of the Note, the Loan Agreement, the Mortgages or any other Loan DocumentsDocument, against Guarantor, Borrowers Borrower or any other Person, any right to require a proceeding first against Borrowers Borrower or any other Person, or to exhaust any security (including, without limitation, the Properties or any of them or any part thereofProperty) for the performance of the Guaranteed Obligations or any other obligations of Borrowers Borrower or any other Person, or any protest, presentment, notice of default (except as may be expressly required under the Loan Documents) or other notice or demand whatsoeverwhatsoever (except to the extent expressly provided to the contrary in this Guaranty). The obligations of Guarantor under this Guaranty, and Guarantor hereby covenants and agrees that Guarantor the rights of Lender to enforce the same by proceedings, whether by action at law, suit in equity or otherwise, shall not be discharged in any way affected by any of its obligations hereunder.the following:

Unconditional Character of Obligations of Guarantor. (a) The Subject to Section 3 above, the obligations of Guarantor hereunder shall be irrevocable, absolute and unconditional, irrespective of the validity, regularity or enforceability, in whole or in part, of the Note, the Loan Agreement, the Mortgages or the other Loan Documents or any provision thereof, or the absence of any action to enforce the same, any waiver or consent with respect to any provision thereof, the recovery of any judgment against any Borrower, Manager, Guarantor or any other Person or any action to enforce the same, any failure or delay in the enforcement of the obligations of Borrowers Borrower or Manager under the Note, the Loan Agreement, the Mortgages or any other Loan Documents or Guarantor under this Guaranty, or any setoff, counterclaim, and irrespective of any other circumstances which might otherwise limit recourse against Guarantor by Lender or constitute a legal or equitable discharge or defense of a guarantor or surety. Lender may enforce the obligations of Guarantor under this Guaranty by a proceeding at law, in equity or otherwise, independent of any loan foreclosure or similar proceeding or any deficiency action against Borrowers Borrower, Manager, or any other Person at any time, either before or after an action against the Properties or any of them Property or any part thereof, Borrowers Borrower, Manager, or any other Person. THIS GUARANTY IS A GUARANTY OF PAYMENT AND PERFORMANCE AND NOT MERELY A GUARANTY OF COLLECTIONThis Guaranty is a guaranty of payment and performance and not a guaranty of collection. Except as otherwise provided herein or in any of the other Loan Documents or the Intercreditor Agreement, and to the extent permitted by law, Guarantor waives diligence, notice of acceptance of this Guaranty, filing of claims with any court, any proceeding to enforce any provision of the Note, the Loan Agreement, the Mortgages or any other Loan DocumentsDocument, against Guarantor, Borrowers Borrower, Manager, or any other Person, any right to require a proceeding first against Borrowers Borrower, Manager or any other Person, or to exhaust any security (including, without limitation, the Properties or any of them or any part thereofProperty) for the performance of the Guaranteed Guarantied Obligations or any other obligations of Borrowers Borrower, Manager or any other Person, or any protest, presentment, notice of default (except as may be expressly required under the Loan Documents) or other notice or demand whatsoeverwhatsoever (except to the extent expressly provided to the contrary in this Guaranty or elsewhere in the Loan Documents), and Guarantor hereby covenants and agrees that Guarantor shall not be discharged of its obligations hereunderhereunder except as set forth in Section 2(f) above.

Unconditional Character of Obligations of Guarantor. (a) The Subject to Section 4, the obligations of Guarantor hereunder shall be irrevocable, absolute and unconditional, irrespective of the validity, regularity or enforceability, in whole or in part, of the Note, the Loan Agreement, the Mortgages or the other Loan Documents or any provision thereof, or the absence of any action to enforce the same, any waiver or consent with respect to any provision thereof, the recovery of any judgment against any BorrowerBuyer, Guarantor or any other Person or any action to enforce the same, any failure or delay in the enforcement of the obligations of Borrowers Buyer under the Note, the Loan Agreement, the Mortgages or any other Loan Documents Purchase Agreement or Guarantor under this Guaranty, or any setoff, counterclaim, and irrespective of any other circumstances which might otherwise limit recourse against Guarantor by Lender Seller or constitute a legal or equitable discharge or defense of a guarantor or surety. Lender Seller may enforce the obligations of Guarantor under this Guaranty by a proceeding at law, in equity or otherwise, independent of any loan foreclosure or similar proceeding or any deficiency action against Borrowers Buyer or any other Person at any time, either before or after an action against the Properties or any . This Guaranty is a guaranty of them or any part thereof, Borrowers or any other Person. THIS GUARANTY IS A GUARANTY OF PAYMENT AND PERFORMANCE AND NOT MERELY A GUARANTY OF COLLECTIONpayment and performance and not a guaranty of collection. Guarantor waives diligence, notice of acceptance of this Guaranty, filing of claims with any court, any proceeding to enforce any provision of the Note, the Loan Agreement, the Mortgages or any other Loan Documentsthis Guaranty, against Guarantor, Borrowers Buyer or any other Person, any right to require a proceeding first against Borrowers Buyer or any other Person, or to exhaust any security (including, without limitation, the Properties or any of them or any part thereof) Person for the performance of the Guaranteed Obligations or any other obligations of Borrowers Buyer or any other Person, or any protest, presentment, notice of default (except as may be expressly required under the Loan Documents) or other notice or demand whatsoever, and Guarantor hereby covenants and agrees that Guarantor shall not be discharged of its obligations hereunderwhatsoever (except to the extent expressly provided to the contrary in this Guaranty).

Unconditional Character of Obligations of Guarantor. (a) The Subject to Section 3 above, the obligations of Guarantor hereunder shall be irrevocable, absolute and unconditional, irrespective of the validity, regularity or enforceability, in whole or in part, of the Note, the Loan Agreement, the Mortgages or the other Loan Documents or any provision thereof, or the absence of any action to enforce the same, any waiver or consent with respect to any provision thereof, the recovery of any judgment against any Borrower, Guarantor Guarantor, or any other Person or any action to enforce the same, any failure or delay in the enforcement of the obligations of Borrowers Borrower under the Note, the Loan Agreement, the Mortgages or any other Loan Documents or Guarantor under this Guaranty, or any setoff, counterclaim, and irrespective of any other circumstances which might otherwise limit recourse against Guarantor by Lender or constitute a legal or equitable discharge or defense of a guarantor or surety. Lender may enforce the obligations of Guarantor under this Guaranty by a proceeding at law, in equity or otherwise, independent of any loan foreclosure or similar proceeding or any deficiency action against Borrowers Borrower, or any other Person at any time, either before . This Guaranty is a guaranty of payment and performance and not a guaranty of collection. Except as otherwise provided herein or after an action against the Properties or in any of them the other Loan Documents or any part thereofthe Intercreditor Agreement, Borrowers or any other Person. THIS GUARANTY IS A GUARANTY OF PAYMENT AND PERFORMANCE AND NOT MERELY A GUARANTY OF COLLECTION. and to the extent permitted by law, Guarantor waives diligence, notice of acceptance of this Guaranty, filing of claims with any court, any proceeding to enforce any provision of the Note, the Loan Agreement, the Mortgages or any other Loan DocumentsDocument, against Guarantor, Borrowers Borrower, or any other Person, any right to require a proceeding first against Borrowers Borrower, or any other Person, or to exhaust any security (including, without limitation, the Properties or any of them or any part thereof) for the performance of the Guaranteed Guarantied Obligations or any other obligations of Borrowers Borrower, or any other Person, or any protest, presentment, notice of default (except as may be expressly required under the Loan Documents) or other notice or demand whatsoeverwhatsoever (except to the extent expressly provided to the contrary in this Guaranty or elsewhere in the Loan Documents), and Guarantor hereby covenants and agrees that Guarantor shall not be discharged of its obligations hereunderhereunder except as set forth in Section 2(f) above.

Unconditional Character of Obligations of Guarantor. (a) The obligations of Guarantor hereunder shall be irrevocable, absolute and unconditional, irrespective of the validity, regularity or enforceability, in whole or in part, of the Note, the Loan Agreement, the Mortgages or the other Loan Documents or any provision thereof, or the absence of any action to enforce the same, any waiver or consent with respect to any provision thereof, the recovery of any judgment against any Borrower, Guarantor or any other Person or any action to enforce the same, any failure or delay in the enforcement of the obligations of Borrowers Borrower under the Note, the Loan Agreement, the Mortgages or any other Loan Documents or Guarantor under this Guaranty, or any setoff, counterclaim, and irrespective of any other circumstances which might otherwise limit recourse against Guarantor by Lender or constitute a legal or equitable discharge or defense of a guarantor or surety. Lender may enforce the obligations of Guarantor under this Guaranty by a proceeding at law, in equity or otherwise, independent of any loan foreclosure or similar proceeding or any deficiency action against Borrowers Borrower or any other Person at any time, either before or after an action against the Properties or any of them Property or any part thereof, Borrowers Borrower or any other Person. THIS GUARANTY IS A GUARANTY OF PAYMENT AND PERFORMANCE AND NOT MERELY A GUARANTY OF COLLECTION. Guarantor waives diligence, notice of acceptance of this Guaranty, filing of claims with any court, any proceeding to enforce any provision of the Note, the Loan Agreement, the Mortgages or any other Loan DocumentsDocument, against Guarantor, Borrowers Borrower or any other Person, any right to require a proceeding first against Borrowers Borrower or any other Person, or to exhaust any security (including, without limitation, the Properties or any of them or any part thereofProperty) for the performance of the Guaranteed Obligations or any other obligations of Borrowers Borrower or any other Person, or any protest, presentment, notice of default (except as may be expressly required under the Loan Documents) or other notice or demand whatsoever, and Guarantor hereby covenants and agrees that Guarantor shall not be discharged of its obligations hereunderwhatsoever (except to the extent expressly provided to the contrary in this Guaranty).

Unconditional Character of Obligations of Guarantor. (a) The obligations of Guarantor hereunder shall be irrevocable, absolute and unconditional, irrespective of the validity, regularity or enforceability, in whole or in part, of the NoteNotes, the Loan Agreement, the Mortgages Indenture or the other Loan Transaction Documents or any provision thereof, or the absence of any action to enforce the same, any waiver or consent with respect to any provision thereof, the recovery of any judgment against any BorrowerIssuer, Guarantor or any other Person or any action to enforce the same, any failure or delay in the enforcement of the obligations of Borrowers the Issuers under the NoteNotes, the Loan Agreement, the Mortgages Indenture or any other Loan Transaction Documents or Guarantor under this GuarantyGuaranty or the Pledge Agreement, or any setoff, counterclaim, and irrespective of any other circumstances which might otherwise limit recourse against Guarantor by Lender the Indenture Trustee or constitute a legal or equitable discharge or defense of a guarantor or surety. Lender The Indenture Trustee may enforce the obligations of Guarantor under this Guaranty by a proceeding at law, in equity or otherwise, independent of any loan foreclosure or similar proceeding under the Notes or any deficiency action against Borrowers the Issuers or any other Person at any time, either before or after an action against the Properties or any of them or any part thereof, Borrowers Issuer or any other Person. THIS GUARANTY IS A GUARANTY OF PAYMENT AND PERFORMANCE AND NOT MERELY A GUARANTY OF COLLECTIONThis Guaranty is a guaranty of payment and performance and not merely a guaranty of collection. Guarantor waives diligence, notice of acceptance of this Guaranty, filing of claims with any court, any proceeding to enforce any provision of the NoteNotes, the Loan Agreement, the Mortgages Indenture or any other Loan Transaction Documents, against Guarantor, Borrowers the Issuers or any other Person, any right to require a proceeding first against Borrowers the Issuers or any other Person, or to exhaust any security (including, without limitation, the Properties or any of them or any part thereof) for the performance of the Guaranteed Obligations or any other obligations of Borrowers the Issuers or any other Person, or any protest, presentment, notice of default (except as may be expressly required under the Loan Transaction Documents) or other notice or demand whatsoever, and Guarantor hereby covenants and agrees that Guarantor it shall not be discharged of its obligations hereunder.

Unconditional Character of Obligations of Guarantor. (a) The obligations of Guarantor hereunder shall be irrevocable, absolute and unconditional, irrespective of the validity, regularity or enforceability, in whole or in part, of (1) the Plan of Reorganization (including, without limitation, the Disbursing Agreement and the Liquidating Trust Agreement), (2) the Mortgage Loan or any of the Underlying Loan Documents or (3) the Note, the Loan Agreement, the Mortgages or the other Loan Documents or any provision thereofof (1), (2) or (3), or the absence of any action to enforce the same, any waiver or consent with respect to any provision thereof, the recovery of any judgment against any Borrower, Guarantor or any other Person or any action to enforce the same, any failure or delay in the enforcement of the obligations of Borrowers Borrower under the Note, the Loan Agreement, the Mortgages or any other Loan Documents or Guarantor under this Guaranty, or any setoff, counterclaim, and irrespective of any other circumstances which might otherwise limit recourse against Guarantor by Lender or constitute a legal or equitable discharge or defense of a guarantor or surety. Lender may enforce the obligations of Guarantor under this Guaranty by a proceeding at law, in equity or otherwise, independent of any loan foreclosure or similar proceeding or any deficiency action against Borrowers Borrower or any other Person at any timetime or, after Borrower takes title to the Mortgaged Property, either before or after an a foreclosure action against the Properties or any of them Mortgaged Property or any part thereof, Borrowers or any other Person. THIS GUARANTY IS A GUARANTY OF PAYMENT AND PERFORMANCE AND NOT MERELY A GUARANTY OF COLLECTIONThis Guaranty is a guaranty of payment and performance and not merely a guaranty of collection. Guarantor waives diligence, notice of acceptance of this Guaranty, filing of claims with any court, any proceeding to enforce any provision of the Note, the Loan Agreement, the Mortgages or any other Loan Documents, against Guarantor, Borrowers Borrower or any other Person, any right to require a proceeding first against Borrowers Borrower or any other Person, or to exhaust any security (including, without limitation, the Properties Collateral under each of the Security Agreement and the Stock Pledge Agreement, or any the Mortgaged Property after title of them or any part thereofsuch is transferred to Borrower) for the performance of the Guaranteed Obligations or any other obligations of Borrowers Borrower or any other Person, or any protest, presentment, notice of default (except as may be expressly required under the Loan Documents) or other notice or demand whatsoeverwhatsoever (except to the extent expressly provided to the contrary in this Guaranty), and Guarantor hereby covenants and agrees that Guarantor shall not be discharged of its obligations hereunder.

Unconditional Character of Obligations of Guarantor. (a) The obligations of Guarantor hereunder shall be joint, several, irrevocable, absolute and unconditional, irrespective of the validity, regularity or enforceability, in whole or in part, of the Note, the Loan Agreement, the Mortgages or the other Loan Documents or any provision thereof, or the absence of any action to enforce the same, any waiver or consent with respect to any provision thereof, the recovery of any judgment against any Borrower, Guarantor or any other Person or any action to enforce the same, any failure or delay in the enforcement of the obligations of Borrowers any Borrower under the Note, the Loan Agreement, the Mortgages or any other Loan Documents or Guarantor under this Guaranty, or any setoff, counterclaim, and irrespective of any other circumstances which might otherwise limit recourse against Guarantor by Lender Administrative Agent or constitute a legal or equitable discharge or defense of a guarantor or surety. Lender Administrative Agent may enforce the obligations of Guarantor under this Guaranty by a proceeding at law, in equity or otherwise, independent of any loan foreclosure or similar proceeding or any deficiency action against Borrowers any Borrower or any other Person at any time, either before or after an action against the Properties or any of them Property or any part thereof, Borrowers Borrower or any other Person. THIS GUARANTY IS A GUARANTY OF PAYMENT AND PERFORMANCE AND NOT MERELY A GUARANTY OF COLLECTIONThis Guaranty is a guaranty of payment and not merely a guaranty of collection. Guarantor waives diligence, notice of acceptance of this Guaranty, filing of claims with any court, any proceeding to enforce any provision of the Note, the Loan Agreement, the Mortgages or any other Loan DocumentsDocument, against Guarantor, Borrowers any Borrower or any other Person, any right to require a proceeding first against Borrowers any Borrower or any other Person, or to exhaust any security (including, without limitation, the Properties or any of them or any part thereofProperty) for the performance of the Guaranteed Obligations or any other obligations of Borrowers any Borrower or any other Person, or any protest, presentment, notice of default (except as may be expressly required under the Loan Documents) or other notice or demand whatsoever, and Guarantor hereby covenants and agrees that Guarantor shall not be discharged of its obligations hereunderwhatsoever (except to the extent expressly provided to the contrary in this Guaranty).