Common use of Waivers by Maker Clause in Contracts

Waivers by Maker. Maker (i) waives grace, demand, notice of intent to accelerate maturity, notice that the Holder will not or will no longer accept late payments, notice of acceleration of maturity, presentment for acceleration, presentment for payment, protest, notice of protest and of dishonor, and diligence in taking any action with respect to any security or the collection of any sums owing hereon and any right to require Holder to marshal assets; and (ii) consents to any and all renewals, extensions, modifications, and rearrangements hereof and to the release of any person or entity liable hereon or herefor (whether by guaranty or otherwise) under any terms deemed by the then Holder, in its sole discretion, to be adequate. Any such renewal, extension, modification, or rearrangement, or the release of any such person or entity, may be made without notice to Maker and without affecting the liabilities and obligations of Maker. The exercise of any right or remedy conferred upon the Holder in this Note, or in any instrument, document, or other writing now or hereafter pertaining to this Note, or pertaining to any other indebtedness now or hereafter owing by Maker to the Holder, shall be wholly discretionary with the Holder, and the exercise of, or failure to exercise, any such right or remedy shall not in any manner affect, impair, or diminish the obligations and liabilities of Maker, or constitute a waiver of any such right or remedy or Note A 3. Exhibit 3.2 any other past, present, or future right or remedy of the Holder. Without limiting the foregoing, the acceptance of late payments or the failure to give notice of the occurrence of an Event of Default or to exercise the option to accelerate the maturity of this Note upon any Event of Default shall not constitute a waiver of the right to exercise the option to accelerate the maturity of this Note upon the failure to promptly pay any subsequent payment or in the event there exists or thereafter occurs any other or subsequent Event of Default, and no waiver shall be enforceable against any Holder unless such waiver is expressly set forth in writing and duly executed by the Holder.

Waivers by Maker. Maker (i) waives grace, demand, notice of intent to accelerate maturity, notice that the Holder will not or will no longer accept late payments, notice of acceleration of maturity, presentment for acceleration, presentment for payment, protest, notice of protest and of dishonor, and diligence in taking any action with respect to any security or the collection of any sums owing hereon and any right to require Holder to marshal assets; and (ii) consents to any and all renewals, extensions, modifications, and rearrangements hereof and to the release of any person or entity liable hereon or herefor (whether by guaranty or otherwise) under any terms deemed by the then Holder, in its sole discretion, to be adequate. Any such renewal, extension, modification, or rearrangement, or the release of any such person or entity, may be made without notice to Maker and without affecting the liabilities and obligations of Maker. The exercise of any right or remedy conferred upon the Holder in this Note, or in any instrument, document, or other writing now or hereafter pertaining to this Note, or pertaining to any other indebtedness now or hereafter owing by Maker to the Holder, shall be wholly discretionary with the Holder, and the exercise of, or failure to exercise, any such right or remedy shall not in any manner affect, impair, or diminish the obligations and liabilities of Maker, or constitute a waiver of any such right or remedy or Note A 3. Exhibit 3.2 any other past, present, or future right or remedy of the Holder. Without limiting the foregoing, the acceptance of late payments or the failure to give notice of the occurrence of an Event of Default or to exercise the option to accelerate the maturity of this Note upon any Event of Default shall not constitute a waiver of the right to exercise the option to accelerate the maturity of this Note upon the failure to promptly pay any subsequent payment or in the event there exists or thereafter occurs any other or subsequent Event of Default, and no waiver shall be enforceable against any Holder unless such waiver is expressly set forth in writing and duly executed by the Holder.