Common use of Waivers by Grantor Clause in Contracts

Waivers by Grantor. Without affecting any of Grantor's obligations under the Loan Documents, Grantor waives the following: (a) Any right to require Beneficiary to proceed against any specific party liable for sums due under the Loan Documents or to proceed against or exhaust any specific security for sums due under the Loan Documents. (b) Diligence, demand for performance, notice of nonperformance, presentment, protest and notice of dishonor and notice of new or additional indebtedness of any Grantor, any Borrower or any other party liable for sums due under the Loan Documents to Beneficiary. (c) Any defense arising out of Beneficiary entering into additional financing or other arrangements with any Grantor, any Borrower or any party liable for sums due under the Loan Documents not relating to the Property and any action taken by Beneficiary in connection with any such financing or other arrangements or any pending financing or other arrangements not related to the Property. (d) Any defense arising out of the absence, impairment, or loss of any or all rights of recourse, reimbursement, contribution or subrogation or any other rights or remedies of Beneficiary against any Grantor, any Borrower or any other party liable for sums due under the Loan Documents or any Collateral. (e) Any obligation of Beneficiary to see to the proper use and application of any proceeds advanced pursuant to the Loan Documents.

Waivers by Grantor. Without affecting any of Grantor's obligations under the Loan Documents, Grantor waives the following: (a) Any right to require Beneficiary to proceed against any specific party liable for sums due under the Loan Documents or to proceed against or exhaust any specific security for sums due under the Loan Documents. (b) Diligence, demand for performance, notice of nonperformance, presentment, protest and notice of dishonor and notice of new or additional indebtedness of any Grantor, any Borrower Grantor or any other party liable for sums due under the Loan Documents to Beneficiary. (c) Any defense arising out of Beneficiary entering into additional financing or other arrangements with any Grantor, any Borrower Grantor or any party liable for sums due under the Loan Documents not relating to the Property and any action taken by Beneficiary in connection with any such financing or other arrangements or any pending financing or other arrangements not related to the Property. (d) Any defense arising out of the absence, impairment, or loss of any or all rights of recourse, reimbursement, contribution or subrogation or any other rights or remedies of Beneficiary against any Grantor, any Borrower Grantor or any other party liable for sums due under the Loan Documents or any Collateral. (e) Any obligation of Beneficiary to see to the proper use and application of any proceeds advanced pursuant to the Loan Documents.