Common use of Waivers and Amendments; Remedies Clause in Contracts

Waivers and Amendments; Remedies. Notwithstanding any -------------------------------- provisions to the contrary herein, any term of this Agreement may be amended with the written consent of the Pledgor; provided that no amendment, modification or waiver of any provision of this Agreement or consent to any departure herefrom by the Pledgor or other party thereto shall in any event be effective unless the same shall be in writing and signed by the Secured Party, and then such amendment, modification, waiver or consent shall be effective only in the specific instance and for the purpose for which given. The Security Interest can be released, only explicitly in a writing signed by the Secured Party. A waiver so signed shall be effective only in the specific instance and for the specific purpose given. Mere delay or failure to act shall not preclude the exercise or enforcement of any rights and remedies available to the Secured Party. All rights and remedies of the Secured Party shall be cumulative and may be exercised singly in any order or sequence, or concurrently, at the Secured Party's option, and the exercise or enforcement of any such right or remedy shall neither be a condition to nor bar the exercise or enforcement of any other.