Common use of Waiver of Rights Under Anti-Deficiency Rules Clause in Contracts

Waiver of Rights Under Anti-Deficiency Rules. Without limiting any other provision of this §36, each Credit Party understands and acknowledges that, if the Agent forecloses judicially or nonjudicially against any real property that may be security for the Obligations, such foreclosure could impair or destroy any right or ability that such Credit Party may have to seek reimbursement, contribution, or indemnification for any amounts paid by such Credit Party under this Agreement. Each Credit Party further understands and acknowledges that in the absence of this waiver such potential impairment or destruction of such Credit Party’s rights, if any, may entitle such Credit Party to assert a defense to this Agreement based on California Code of Civil Procedure §580d as interpreted in Union Bank ▇. ▇▇▇▇▇▇▇, (1968) 265 CA 2d 40, 71 CR 64, on the grounds, among others, that the Agent or the Lenders should be estopped from pursuing such Credit Party because their election to foreclose may have impaired or destroyed such subrogation, reimbursement, contribution, or indemnification rights of such Credit Party. By execution of this Agreement, each Credit Party intentionally, freely, irrevocably, and unconditionally: (i) waives and relinquishes that defense and agrees that such Credit Party will be liable under this Agreement even though the Agent has foreclosed judicially or nonjudicially against any real or personal property that is security for the Obligations; (ii) agrees that such Credit Party will not assert that defense in any action or proceeding which the Agent or the Lenders may bring to enforce this Agreement; and (iii) acknowledges and agrees that until the Obligations have been indefeasibly paid in full, the rights and defenses waived by such Credit Party in this Agreement include any right or defense that such Borrower may have or be entitled to assert based on or arising out of California Civil Code §2848, to the extent now or hereafter applicable.

Waiver of Rights Under Anti-Deficiency Rules. Without limiting any other provision of this §36, each Credit Party Borrower and Subsidiary Guarantor understands and acknowledges that, if the Agent forecloses judicially or nonjudicially against any real property that may be security Collateral for the Obligations, such foreclosure could impair or destroy any right or ability that such Credit Party Borrower or Subsidiary Guarantor may have to seek reimbursement, contribution, or indemnification for any amounts paid by such Credit Party Borrower or Subsidiary Guarantor under this Agreement. Each Credit Party Borrower and Subsidiary Guarantor further understands and acknowledges that in the absence of this waiver such potential impairment or destruction of such Credit PartyBorrower’s or Subsidiary Guarantor’s rights, if any, may entitle such Credit Party Borrower or Subsidiary Guarantor to assert a defense to this Agreement based on California Code of Civil Procedure §580d as interpreted in Union Bank ▇. ▇▇▇▇▇▇▇, (1968) 265 CA 2d 40, 71 CR 64, on the grounds, among others, that the Agent or the Lenders should be estopped from pursuing such Credit Party Borrower or Subsidiary Guarantor because their election to foreclose may have impaired or destroyed such subrogation, reimbursement, contribution, or indemnification rights of such Credit PartyBorrower or Subsidiary Guarantor. By execution of this Agreement, each Credit Party Borrower and Subsidiary Guarantor intentionally, freely, irrevocably, and unconditionally: (i) waives and relinquishes that defense and agrees that such Credit Party Borrower and Subsidiary Guarantor will be liable under this Agreement even though the Agent has foreclosed judicially or nonjudicially against any real or personal property that is security Collateral for the Obligations; (ii) agrees that such Credit Party Borrower and Subsidiary Guarantor will not assert that defense in any action or proceeding which the Agent or the Lenders may bring to enforce this Agreement; and (iii) acknowledges and agrees that until the Obligations have been indefeasibly paid in full, the rights and defenses waived by such Credit Party Borrower and Subsidiary Guarantor in this Agreement include any right or defense that such Borrower may have or be entitled to assert based on or arising out of California Civil Code §2848, to the extent now or hereafter applicable.

Waiver of Rights Under Anti-Deficiency Rules. Without limiting any other provision of this §36, each Credit Party Borrower understands and acknowledges that, if the Agent forecloses judicially or nonjudicially against any real property that may be security Collateral for the Obligations, such foreclosure could impair or destroy any right or ability that such Credit Party Borrower may have to seek reimbursement, contribution, or indemnification for any amounts paid by such Credit Party Borrower under this Agreement. Each Credit Party Borrower further understands and acknowledges that in the absence of this waiver such potential impairment or destruction of such Credit PartyBorrower’s rights, if any, may entitle such Credit Party Borrower to assert a defense to this Agreement based on California Code of Civil Procedure §580d as interpreted in Union Bank ▇. ▇▇▇▇▇▇▇, (1968) 265 CA 2d 40, 71 CR 64, on the grounds, among others, that the Agent or the Lenders should be estopped from pursuing such Credit Party Borrower because their election to foreclose may have impaired or destroyed such subrogation, reimbursement, contribution, or indemnification rights of such Credit PartyBorrower. By execution of this Agreement, each Credit Party Borrower intentionally, freely, irrevocably, and unconditionally: (i) waives and relinquishes that defense and agrees that such Credit Party Borrower will be liable under this Agreement even though the Agent has foreclosed judicially or nonjudicially against any real or personal property that is security Collateral for the Obligations; (ii) agrees that such Credit Party Borrower will not assert that defense in any action or proceeding which the Agent or the Lenders may bring to enforce this Agreement; and (iii) acknowledges and agrees that until the Obligations have been indefeasibly paid in full, the rights and defenses waived by such Credit Party Borrower in this Agreement include any right or defense that such Borrower may have or be entitled to assert based on or arising out of California Civil Code §2848, to the extent now or hereafter applicable.

Waiver of Rights Under Anti-Deficiency Rules. Without limiting any other provision of this §36, each Credit Party understands and acknowledges that, if the Agent forecloses judicially or nonjudicially against any real property that may be security Collateral for the Obligations, such foreclosure could impair or destroy any right or ability that such Credit Party may have to seek reimbursement, contribution, or indemnification for any amounts paid by such Credit Party under this Agreement. Each Credit Party further understands and acknowledges that in the absence of this waiver such potential impairment or destruction of such Credit Party’s 's rights, if any, may entitle such Credit Party to assert a defense to this Agreement based on California Code of Civil Procedure §580d as interpreted in Union Bank ▇. ▇▇▇▇▇▇▇, (1968) 265 CA 2d 40, 71 CR 64, on the grounds, among others, that the Agent or the Lenders should be estopped from pursuing such Credit Party because their election to foreclose may have impaired or destroyed such subrogation, reimbursement, contribution, or indemnification rights of such Credit Party. By execution of this Agreement, each Credit Party intentionally, freely, irrevocably, and unconditionally: (i) waives and relinquishes that defense and agrees that such Credit Party will be liable under this Agreement even though the Agent has foreclosed judicially or nonjudicially against any real or personal property that is security Collateral for the Obligations; (ii) agrees that such Credit Party will not assert that defense in any action or proceeding which the Agent or the Lenders may bring to enforce this Agreement; and (iii) acknowledges and agrees that until the Obligations have been indefeasibly paid in full, the rights and defenses waived by such Credit Party in this Agreement include any right or defense that such Borrower Credit Party may have or be entitled to assert based on or arising out of California Civil Code §2848, to the extent now or hereafter applicable.

Waiver of Rights Under Anti-Deficiency Rules. Without limiting any other provision of this §36, each Credit Party Borrower understands and acknowledges that, if the Agent forecloses judicially or nonjudicially against any real property that may be security Collateral for the Obligations, such foreclosure could impair or destroy any right or ability that such Credit Party Borrower may have to seek reimbursement, contribution, or indemnification for any amounts paid by such Credit Party Borrower under this Agreement. Each Credit Party Borrower further understands and acknowledges that in the absence of this waiver such potential impairment or destruction of such Credit PartyBorrower’s rights, if any, may entitle such Credit Party Borrower to assert a defense to this Agreement based on California Code of Civil Procedure §580d as interpreted in Union Bank ▇. ▇▇▇▇▇▇▇, (1968) 265 CA 2d 40, 71 CR 64, on the grounds, among others, that the Agent or the Lenders should be estopped from pursuing such Credit Party Borrower because their election to foreclose may have impaired or destroyed such subrogation, reimbursement, contribution, or indemnification rights of such Credit PartyBorrower. By execution of this Agreement, each Credit Party Borrower intentionally, freely, irrevocably, and unconditionally: (i) waives and relinquishes that defense and agrees that such Credit Party Borrower will be liable under this Agreement even though the Agent has foreclosed judicially or nonjudicially against any real or personal property that is security Collateral for the Obligations; (ii) agrees that such Credit Party Borrower will not assert that defense in any action or proceeding which the Agent or the Lenders may bring to enforce this Agreement; and (iii) acknowledges and agrees that until the Obligations have been indefeasibly paid in fullfull in cash, the rights and defenses waived by such Credit Party Borrower in this Agreement include any right or defense that such Borrower may have or be entitled to assert based on or arising out of California Civil Code §2848, to the extent now or hereafter applicable.

Waiver of Rights Under Anti-Deficiency Rules. Without limiting any other provision of this §36, each Credit Party Borrower understands and acknowledges that, that if the Agent forecloses judicially or nonjudicially against any real property that may be security Collateral for the Obligations, such foreclosure could impair or destroy any right or ability that such Credit Party Borrower may have to seek reimbursement, contribution, or indemnification for any amounts paid by such Credit Party Borrower under this Agreement. Each Credit Party Borrower further understands and acknowledges that in the absence of this waiver such potential impairment or destruction of such Credit PartyBorrower’s rights, if any, may entitle such Credit Party Borrower to assert a defense to this Agreement based on California Code of Civil Procedure §580d as interpreted in Union Bank ▇. v. ▇▇▇▇▇▇▇, (1968) 265 CA 2d 40, 71 CR 64, on the grounds, among others, that the Agent or the Lenders should be estopped from pursuing such Credit Party Borrower because their election to foreclose may have impaired or destroyed such subrogation, reimbursement, contribution, or indemnification rights of such Credit PartyBorrower. By execution of this Agreement, each Credit Party Borrower intentionally, freely, irrevocably, and unconditionally: (i) waives and relinquishes that defense and agrees that such Credit Party Borrower will be liable under this Agreement even though the Agent has foreclosed judicially or nonjudicially against any real or personal property that is security Collateral for the Obligations; (ii) agrees that such Credit Party Borrower will not assert that defense in any action or proceeding which the Agent or the Lenders may bring to enforce this Agreement; and (iii) acknowledges and agrees that until the Obligations have been indefeasibly paid in full, the rights and defenses waived by such Credit Party Borrower in this Agreement include any right or defense that such Borrower may have or be entitled to assert based on or arising out of California Civil Code §2848, to the extent now or hereafter applicable.

Waiver of Rights Under Anti-Deficiency Rules. Without limiting any other provision of this §36, each Credit Party understands and acknowledges that, if the Agent forecloses judicially or nonjudicially against any real property that may be security Collateral for the Obligations, such foreclosure could impair or destroy any right or ability that such Credit Party may have to seek reimbursement, contribution, or indemnification for any amounts paid by such Credit Party under this Agreement. Each Credit Party further understands and acknowledges that in the absence of this waiver such potential impairment or destruction of such Credit Party’s rights, if any, may entitle such Credit Party to assert a defense to this Agreement based on California Code of Civil Procedure §580d as interpreted in Union Bank ▇. ▇▇▇▇▇▇▇, (1968) 265 CA 2d 40, 71 CR 64, on the grounds, among others, that the Agent or the Lenders should be estopped from pursuing such Credit Party because their election to foreclose may have impaired or destroyed such subrogation, reimbursement, contribution, or indemnification rights of such Credit Party. By execution of this Agreement, each Credit Party intentionally, freely, irrevocably, and unconditionally: (i) waives and relinquishes that defense and agrees that such Credit Party will be liable under this Agreement even though the Agent has foreclosed judicially or nonjudicially against any real or personal property that is security Collateral for the Obligations; (ii) agrees that such Credit Party will not assert that defense in any action or proceeding which the Agent or the Lenders may bring to enforce this Agreement; and (iii) acknowledges and agrees that until the Obligations have been indefeasibly paid in full, the rights and defenses waived by such Credit Party in this Agreement include any right or defense that such Borrower Credit Party may have or be entitled to assert based on or arising out of California Civil Code §2848, to the extent now or hereafter applicable.

Waiver of Rights Under Anti-Deficiency Rules. Without limiting any other provision of this §36, each Credit Party Borrower understands and acknowledges that, that if the Agent forecloses judicially or nonjudicially against any real property that may be security Collateral for the Obligations, such foreclosure could impair or destroy any right or ability that such Credit Party Borrower may have to seek reimbursement, contribution, or indemnification for any amounts paid by such Credit Party Borrower under this Agreement. Each Credit Party Borrower further understands and acknowledges that in the absence of this waiver such potential impairment or destruction of such Credit PartyBorrower’s rights, if any, may entitle such Credit Party Borrower to assert a defense to this Agreement based on California Code of Civil Procedure §580d as interpreted in Union Bank ▇. ▇▇▇▇▇▇▇, (1968) 265 CA 2d 40, 71 CR 64, on the grounds, among others, that the Agent or the Lenders should be estopped from pursuing such Credit Party Borrower because their election to foreclose may have impaired or destroyed such subrogation, reimbursement, contribution, or indemnification rights of such Credit PartyBorrower. By execution of this Agreement, each Credit Party Borrower intentionally, freely, irrevocably, and unconditionally: (i) waives and relinquishes that defense and agrees that such Credit Party Borrower will be liable under this Agreement even though the Agent has foreclosed judicially or nonjudicially against any real or personal property that is security Collateral for the Obligations; (ii) agrees that such Credit Party Borrower will not assert that defense in any action or proceeding which the Agent or the Lenders may bring to enforce this Agreement; and (iii) acknowledges and agrees that until the Obligations have been indefeasibly paid in full, the rights and defenses waived by such Credit Party Borrower in this Agreement include any right or defense that such Borrower may have or be entitled to assert based on or arising out of California Civil Code §2848, to the extent now or hereafter applicable.

Waiver of Rights Under Anti-Deficiency Rules. Without limiting any other provision of this §36, each Credit Loan Party understands and acknowledges that, if the Agent forecloses judicially or nonjudicially against any real property that may be security Collateral for the Obligations, such foreclosure could impair or destroy any right or ability that such Credit Loan Party may have to seek reimbursement, contribution, or indemnification for any amounts paid by such Credit Loan Party under this Agreement. Each Credit Loan Party further understands and acknowledges that in the absence of this waiver such potential impairment or destruction of such Credit Loan Party’s rights, if any, may entitle such Credit Loan Party to assert a defense to this Agreement based on California Code of Civil Procedure §580d as interpreted in Union Bank ▇. ▇▇▇▇▇▇▇, (1968) 265 CA 2d 40, 71 CR 64, on the grounds, among others, that the Agent or the Lenders should be estopped from pursuing such Credit Loan Party because their election to foreclose may have impaired or destroyed such subrogation, reimbursement, contribution, or indemnification rights of such Credit Loan Party. By execution of this Agreement, each Credit Loan Party intentionally, freely, irrevocably, and unconditionally: (i) waives and relinquishes that defense and agrees that such Credit Loan Party will be liable under this Agreement even though the Agent has foreclosed judicially or nonjudicially against any real or personal property that is security Collateral for the Obligations; (ii) agrees that such Credit Loan Party will not assert that defense in any action or proceeding which the Agent or the Lenders may bring to enforce this Agreement; and (iii) acknowledges and agrees that until the Obligations have been indefeasibly paid in full, the rights and defenses waived by such Credit Loan Party in this Agreement include any right or defense that such Borrower Loan Party may have or be entitled to assert based on or arising out of California Civil Code §2848, to the extent now or hereafter applicable.