Common use of Waiver of Certain Defenses Clause in Contracts

Waiver of Certain Defenses. The Guarantor waives any defense arising by reason of any claim that the Guarantor's obligations exceed or are more burdensome than those of the Company. The Guarantor waives all rights and defenses arising out of an election of remedies by the Bank, even though that election of remedies, such as a nonjudicial foreclosure with respect to security for the Obligations, has destroyed the Guarantor's rights of subrogation and reimbursement against the Company by operation of Section 580d of the California Code of Civil Procedure (if applicable) or otherwise. The Guarantor waives any benefit of, and any right to participate in, any security or other guaranty now or hereafter held by the Bank securing the Obligations.

Waiver of Certain Defenses. The Guarantor waives any defense arising by reason of any claim that the Guarantor's obligations exceed or are more burdensome than those of the Company. The Guarantor waives all rights and defenses arising out of an election of remedies by the Agent or any Bank, even though that election of remedies, such as a nonjudicial foreclosure with respect to security for the Obligations, has destroyed the Guarantor's rights of subrogation and reimbursement against the Company by operation of Section 580d of the California Code of Civil Procedure (if applicable) or otherwise. The Guarantor waives any benefit of, and any right to participate in, any security or other guaranty now or hereafter held by the Agent or any Bank securing the Obligations.

Waiver of Certain Defenses. The Guarantor waives any defense arising by reason of any claim that the Guarantor's obligations exceed or are more burdensome than those of the Company. The Guarantor waives all rights fights and defenses arising out of an election of remedies by the Agent or any Bank, even though that election of remedies, such as a nonjudicial foreclosure with respect to security for the Obligations, has destroyed the Guarantor's rights of subrogation and reimbursement against the Company by operation of Section 580d of the California Code of Civil Procedure (if applicable) or otherwise. The Guarantor waives any benefit of, and any right to participate in, any security or other guaranty now or hereafter held by the Agent or any Bank securing the Obligations.