Common use of Waivers by Co-Maker Clause in Contracts

Waivers by Co-Maker. Each Co-Maker hereby waives, for the benefit of Obligee: (a) any right to require Obligee, as a condition of payment or performance by such Co-Maker, to (i) proceed against Company, any Subsidiary or any guarantor of the Secured Obligations or any other Person, (ii) proceed against or exhaust any security held from Company, any other Subsidiary or any guarantor of the Secured Obligations or any other Person, (iii) proceed against or have resort to any balance of any deposit account or credit on the books of Obligee in favor of Company or any other Person, or (iv) pursue any other remedy in the power of Obligee whatsoever; (b) any defense arising by reason of the incapac- ity, lack of authority or any disability or other defense of any Co-Maker including any defense based on or arising out of the lack of validity or the unenforceability of the Secured Obligations or any agreement or instrument relating thereto or by reason of the cessation of the liability of any Co-Maker from any cause other than indefeasible payment in full of the Secured Obligations; (c) any defense based upon any statute or rule of law which provides that the obligation of a co-maker must be neither larger in amount nor in other respects more burdensome than that of any other obligor; (d) any defense based upon Obligee's errors or omissions in the administration xx xxx Secured Obligations, except behavior which amounts to bad faith; (i) any principles or provisions of law, statu- tory or otherwise, which are or might be in conflict with the terms of this Agreement or which result or might result in any legal or equitable discharge of such Co-Maker's obligations hereunder, (ii) the benefit of any statute of limitations af- fecting such Co-Maker's liability hereunder or the enforcement hereof, (iii) any rights to setoffs, recoupments and counter- claims, and (iv) promptness, diligence and any requirement that Obligee protect, secure, perfect or insure any security interest or lien or any property subject thereto; (f) notices, demands, presentments, protests, no- tices of protest, notices of dishonor and notices of any action or inaction, including acceptance of this Agreement, notices of default under this Agreement or any agreement or instrument related thereto, notices of any renewal, extension or modifica- tion of the Secured Obligations or any agreement related thereto, notices of any extension of credit to any other Co- Maker and notices of any of the matters referred to in subsec- tion 11.4 and any right to consent to any thereof; and (g) any defenses or benefits that may be derived from or afforded by law which limit the liability of or exoner- ate co-makers, guarantors or sureties, or which may conflict with the terms of this Agreement.

Waivers by Co-Maker. Each Co-Maker hereby waives, for the benefit of Obligee: (a) any right to require Obligee, as a condition of payment or performance by such Co-Maker, to (i) proceed against Company, any Subsidiary or any guarantor of the Secured Obligations or any other Person, (ii) proceed against or exhaust any security held from Company, any other Subsidiary or any guarantor of the Secured Obligations or any other Person, (iii) proceed against or have resort to any balance of any deposit account or credit on the books of Obligee in favor of Company or any other Person, or (iv) pursue any other remedy in the power of Obligee whatsoever; (b) any defense arising by reason of the incapac- ityincapacity, lack of authority or any disability or other defense of any Co-Maker including any defense based on or arising out of the lack of validity or the unenforceability of the Secured Obligations or any agreement or instrument relating thereto or by reason of the cessation of the liability of any Co-Maker from any cause other than indefeasible payment in full of the Secured Obligations; (c) any defense based upon any statute or rule of law which provides that the obligation of a co-maker must be neither larger in amount nor in other respects more burdensome than that of any other obligor; (d) any defense based upon ObligeeXxxxxxx's errors or omissions in the administration xx xxx of the Secured Obligations, except behavior which amounts to bad faith; (i) any principles or provisions of law, statu- tory statutory or otherwise, which are or might be in conflict with the terms of this Agreement or which result or might result in any legal or equitable discharge of such Co-Maker's obligations hereunder, (ii) the benefit of any statute of limitations af- fecting affecting such Co-Maker's liability hereunder or the enforcement hereof, (iii) any rights to setoffs, recoupments and counter- claimscounterclaims, and (iv) promptness, diligence and any requirement that Obligee protect, secure, perfect or insure any security interest or lien or any property subject thereto; (f) notices, demands, presentments, protests, no- tices notices of protest, notices of dishonor and notices of any action or inaction, including acceptance of this Agreement, notices of default under this Agreement or any agreement or instrument related thereto, notices of any renewal, extension or modifica- tion modification of the Secured Obligations or any agreement related thereto, notices of any extension of credit to any other Co- Co-Maker and notices of any of the matters referred to in subsec- tion subsection 11.4 and any right to consent to any thereof; and (g) any defenses or benefits that may be derived from or afforded by law which limit the liability of or exoner- ate exonerate co-makers, guarantors or sureties, or which may conflict with the terms of this Agreement.

Waivers by Co-Maker. Each Co-Maker hereby waives, for the benefit of ObligeeLender: (a) any right to require ObligeeLender, as a condition of payment or performance by such Co-Maker, to (i) proceed against Company, any Mortgagor Subsidiary or any guarantor of the Secured Obligations or any other Person, (ii) proceed against or exhaust any security held from Company, any other Mortgagor Subsidiary or any guarantor of the Secured Obligations or any other Person, (iii) proceed against or have resort to any balance of any deposit account or credit on the books of Obligee Lender -93- 101 in favor of Company or any other Person, or (iv) pursue any other remedy in the power of Obligee Lender whatsoever; (b) any defense arising by reason of the incapac- ityincapacity, lack of authority or any disability or other defense of any Co-Maker including any defense based on or arising out of the lack of validity or the unenforceability of the Secured Obligations or any agreement or instrument relating thereto or by reason of the cessation of the liability of any Co-Maker from any cause other than indefeasible payment in full of the Secured Obligations; (c) any defense based upon any statute or rule of law which provides that the obligation of a co-maker must be neither larger in amount nor in other respects more burdensome than that of any other obligor; (d) any defense based upon ObligeeLender's errors or omissions in the administration xx xxx of the Secured Obligations, except behavior which amounts to bad faith; (i) any principles or provisions of law, statu- tory statutory or otherwise, which are or might be in conflict with the terms of this Agreement or which result or might result in any legal or equitable discharge of such Co-Maker's obligations hereunder, (ii) the benefit of any statute of limitations af- fecting affecting such Co-Maker's liability hereunder or the enforcement hereof, (iii) any rights to setoffs, recoupments and counter- claimscounterclaims, and (iv) promptness, diligence and any requirement that Obligee Lender protect, secure, perfect or insure any security interest or lien or any property subject thereto; (f) notices, demands, presentments, protests, no- tices notices of protest, notices of dishonor and notices of any action or inaction, including acceptance of this Agreement, notices of default under this Agreement or any agreement or instrument related thereto, notices of any renewal, extension or modifica- tion modification of the Secured Obligations or any agreement related thereto, notices of any extension of credit to any other Co- Co-Maker and notices of any of the matters referred to in subsec- tion subsection 11.4 and any right to consent to any thereof; and (g) any defenses or benefits that may be derived from or afforded by law which limit the liability of or exoner- ate exonerate co-makers, guarantors or sureties, or which may conflict with the terms of this Agreement.