Waiver of Subrogation and Other Rights. (i) Upon the occurrence and during the continuance of any Event of Default, in its sole discretion, without prior notice to or consent of Pledgor, Lender may elect to: (A) foreclose against any collateral for the Secured Obligations, (B) accept a transfer of any such collateral for the Secured Obligations in lieu of foreclosure, (C) compromise or adjust the Secured Obligations or any part thereof or make any other accommodation with Pledgor or any other Person, or (D) exercise any other remedy against Pledgor or any other Person or any collateral for the Secured Obligations. No such action by Lender shall release or limit Lender’s rights hereunder or under the other Related Documents, even if the effect of the action is to deprive Pledgor of any subrogation rights, rights of indemnity, or other rights to collect reimbursement from any other Person for any sums paid to Lender, whether contractual or arising by operation of law or otherwise. Pledgor expressly agrees that under no circumstances shall Pledgor be deemed to have any right, title, interest or claim in or to any Collateral to be held by Lender or any third party after any foreclosure or transfer in lieu of foreclosure of the Collateral. Regardless of whether Pledgor may have made any payments to Lender, until repayment in full of all of the Secured Obligations, Pledgor waives: (A) upon the occurrence and during the continuance of an Event of Default all rights of subrogation, all rights of indemnity, and any other rights to collect reimbursement from any other Person on account of the Collateral encumbered by this Pledge Agreement, whether contractual or arising by operation of law (including the United States Bankruptcy Code or any successor or similar statute) or otherwise; (B) all rights to enforce any remedy that Lender may have against any Person granting collateral for the Secured Obligations; and (C) all rights to participate in any Collateral now or later to be held by Lender.
Waiver of Subrogation and Other Rights. Buyer shall not be -------------------------------------- required to proceed against any particular Indemnifying Party for indemnification or otherwise in respect of any losses before enforcing its rights hereunder against any other Indemnifying Party, and Stockholder expressly waives all rights he may have, now or in the future, under any statute, or at common law, or at law or in equity, or otherwise, to compel Buyer to proceed against any one of them in respect of any losses before proceeding against, or as a condition to proceeding against, any other of them.
Waiver of Subrogation and Other Rights. An Indemnitee will not be required to proceed against any particular Indemnitor for indemnification or otherwise in respect of any Losses before enforcing its rights hereunder against any other Indemnitor, and each Indemnitor expressly waives all rights it may have, now or in the future, under any statute, at common law, or at law or in equity, or otherwise, to compel an Indemnitee to proceed against any Indemnitor in respect of any Losses before proceeding against, or as a condition to proceeding against, any other Indemnitor.
Waiver of Subrogation and Other Rights. With respect to each Borrower's Secured Obligations arising as a result of the joint and several liability of the Borrowers hereunder with respect to Advances or other extensions of credit made to any of the other Borrowers hereunder, each Borrower waives, until the Secured Obligations shall have been paid in full and the Agreement and the other Loan Documents shall have been terminated, any right to enforce any right of subrogation or any remedy which the Agent and/or any Lender now has or may hereafter have against such Borrower, any endorser or any guarantor of all or any part of the Secured Obligations, and any benefit of, and any right to participate in, any security or collateral given to the Agent and/or any Lender to secure payment of the Secured Obligations or any other liability of the Borrowers to the Agent and/or any Lender.
Waiver of Subrogation and Other Rights. (a) Upon the occurrence and during the continuance of any Event of Default, in its sole discretion, without prior notice to or consent of any Pledgor, Secured Party may elect to (but subject to the terms of this Agreement and the Note or the Guaranty): (i) foreclose against any Collateral for the Secured Obligations, (ii) accept a transfer of any such Collateral for the Secured Obligations in lieu of foreclosure, (iii) compromise or adjust the Secured Obligations or any part thereof or make any other accommodation with Company or any person or entity, or (iv) exercise any other remedy against Company or any person or entity or any Collateral for the Secured Obligations. No such action by Secured Party shall release or limit Secured Party’s rights hereunder or under the Note or the Guaranty, even if the effect of the action is to deprive such Pledgor of any subrogation rights, rights of indemnity, or other rights to collect reimbursement from such Pledgor or any other person or entity for any sums paid to Secured Party, whether contractual or arising by operation of law or otherwise. Each Pledgor expressly agrees that under no circumstances shall any Pledgor be deemed to have any right, title, interest or claim in or to any real or personal property to be held by Secured Party or any third party after any foreclosure or transfer in lieu of foreclosure of any security for the Secured Obligations.
Waiver of Subrogation and Other Rights. (a) Upon a default by Obligor on any Note, Lender in its sole discretion, without prior notice to or consent of Guarantor, may elect to: (i) compromise or adjust any Notes or any part of it or make any other accommodation with Obligor or Guarantor, or (ii) exercise any other remedy against Obligor or any security. No such action by Lender shall release or limit the liability of Guarantor, whom shall remain liable under this Guaranty after the action, even if the effect of the action is to deprive Guarantor of any subrogation rights, rights of indemnity, or other rights to collect reimbursement from Obligor for any sums paid to Lender, whether contractual or arising by operation of law or otherwise.
Waiver of Subrogation and Other Rights. Each -------------------------------------- Shareholder hereby agrees that if, following the Closing, any payment is made or required to be made by it pursuant to the terms of this Agreement or the Company Documents (including, without limitation, this Article IX), none of the Shareholders shall have any rights against the Company, whether by reason of subrogation or otherwise, in respect of any such payments, and none of the Shareholders shall take any action against the Company with respect thereto. Any such rights which any Shareholder may, by operation of law or otherwise, have against the Company shall, effective at the time of the Closing, be deemed to be hereby expressly and knowingly waived.
Waiver of Subrogation and Other Rights. Each Indemnified Party shall not be required to proceed against any particular Indemnifying Party for indemnification or otherwise in respect of any Losses before enforcing its rights hereunder against any other Indemnifying Party, and each Party expressly waives all rights it may have, now or in the future, under any statute, at common law, or at law or in equity, or otherwise, to compel the Indemnified Party to proceed against any Indemnifying Party in respect of any Losses before proceeding against, or as a condition to proceeding against, any other Indemnifying Party.
Waiver of Subrogation and Other Rights. (a) Upon the occurrence and during the continuance of any Event of Default, without prior notice to or consent of Pledgor, Secured Party may elect to (subject to the terms of this Pledge Agreement): (i) foreclose against any Collateral for the Secured Obligations, (ii) accept a transfer of any such Collateral for the Secured Obligations in lieu of foreclosure, (iii) compromise or adjust the Secured Obligations or any part thereof or make any other accommodation with HEP, Buyer, Pledgor or any Person, or (iv) exercise any other remedy available under this Pledge Agreement, the Crude Supply Agreement, at law or in equity against HEP, Buyer, Pledgor or any other Person or any Collateral or any other collateral for the Secured Obligations.
Waiver of Subrogation and Other Rights. (i) Upon the occurrence and during the continuance of any Event of Default and subject to the terms hereof and of the other Loan Documents, in its sole discretion, without prior notice to or consent of Pledgor, Agent may elect to: (A) foreclose against any collateral for the Obligations, (B) accept a transfer of any such collateral for the Obligations in lieu of foreclosure, (C) compromise or adjust the Obligations or any part thereof or make any other accommodation with Pledgor or any other Person, or (D) exercise any other remedy against Pledgor or any other Person or any collateral for the Obligations. No such action by Agent shall release or limit Agent’s rights hereunder or under the other Loan Documents, even if the effect of the action is to deprive Pledgor of any subrogation rights, rights of indemnity, or other rights to collect reimbursement from any other Person for any sums paid to Agent, whether contractual or arising by operation of law or otherwise. Pledgor expressly agrees that under no circumstances shall Pledgor be deemed to have any right, title, interest or claim in or to any Collateral to be held by Agent or any third party after any foreclosure or transfer in lieu of foreclosure of the Collateral.
