Common use of WAIVERS OF GUARANTOR Clause in Contracts

WAIVERS OF GUARANTOR. (a) [Intentionally omitted.] (b) Guarantor waives any right to require Beneficiary to proceed against or exhaust any security held from Principal or any other party acting under a separate agreement. (c) Guarantor waives all of the rights and defenses described in subdivision (a) of Section 2856 of the California Civil Code, including any rights and defenses that are or may become available to the Guarantor by reason of Sections 2787 to 2855 thereof, inclusive. Without limiting the generality of the foregoing waiver: (i) The Guarantor waives all rights and defenses that the Guarantor may have because the Principal’s Obligations are secured by real property. This means, among other things: a. The Beneficiary may collect from the Guarantor without first foreclosing on any real or personal property collateral pledged by the Principal. b. If the Beneficiary forecloses on any real property collateral pledged by the Principal: (1) The amount of the Obligation may be reduced only by the price for which that collateral is sold at the foreclosure sale, even if the collateral is worth more than the sale price. (2) The Beneficiary may collect from the Guarantor even if the Beneficiary, by foreclosing on the real property collateral, has destroyed any right the Guarantor may have to collect from the Principal. This is an unconditional and irrevocable waiver of any rights and defenses the Guarantor may have because the Principal’s Obligations are secured by real property. These rights and defenses include, but are not limited to, any rights or defenses based upon Section 580a, 580b, 580d, or 726 of the California Code of Civil Procedure. (ii) The Guarantor waives all rights and defenses arising out of an election of remedies by the Principal, even though that election of remedies, such as a nonjudicial foreclosure with respect to security for an Obligation, has destroyed the Guarantor's rights of subrogation and reimbursement against the Principal by the operation of Section 580d of the Code of Civil Procedure or otherwise. (d) Guarantor assumes all responsibility for keeping itself informed of Principal’s financial condition and all other factors affecting the risks and liability assumed by Guarantor hereunder, and Beneficiary shall have no duty to advise Guarantor of information known to it regarding such risks. (e) Guarantor waives any defense arising by reason of the incapacity, lack of authority or any disability of the Principal, failure of consideration or any defense based on or arising out of the lack of validity or enforceability of the Obligations; (f) [Intentionally omitted] (g) Guarantor waives its right to raise any defenses based upon promptness, diligence, and any requirement that Beneficiary protect, secure, perfect or insure any security interest or lien or any property subject thereto; (h) Guarantor waives any other circumstances that limit the liability of or exonerate guarantors generally or provide any legal or equitable discharge of Guarantor's obligations hereunder; (i) Other than demand for payment, the Guarantor expressly waives all notices between the Beneficiary and the Principal including without limitation all notices with respect to the Agreement and this Guaranty, notice of acceptance of this Guaranty, any notice of credits extended and sales made by the Beneficiary to Principal, any information regarding Principal’s financial condition, and all other notices whatsoever; and (j) Guarantor waives filing of claims with a court in the event of the insolvency or bankruptcy of the Principal.

WAIVERS OF GUARANTOR. (a) [Intentionally omittedGuarantor waives, to the fullest extent permitted by law, the benefit of any statute of limitations affecting its liability under this agreement or the enforcement of this agreement.] (b) Guarantor waives any right to require Beneficiary to proceed against or exhaust any security held from Principal or any other party acting under a separate agreement. (c) Guarantor waives all of the rights and defenses described in subdivision (a) of Section 2856 of the California Civil Code, including any rights and defenses that are or may become available to the Guarantor by reason of Sections 2787 to 2855 thereof, inclusive. Without limiting the generality of the foregoing waiver:. (i) The Guarantor guarantor waives all rights and defenses that the Guarantor guarantor may have because the Principal’s Obligations are debtor's debt is secured by real property. This means, among other things: a. (a) The Beneficiary creditor may collect from the Guarantor guarantor without first foreclosing on any real or personal property collateral pledged by the Principal. b. debtor; (b) If the Beneficiary creditor forecloses on any real property collateral pledged by the Principal: debtor: (1) The amount of the Obligation debt may be reduced only by the price for which that collateral is sold at the foreclosure sale, even if the collateral is worth more than the sale price. ; (2) The Beneficiary creditor may collect from the Guarantor guarantor even if the Beneficiarycreditor, by foreclosing on the real property collateral, has destroyed any right the Guarantor guarantor may have to collect from the Principal. debtor. (ii) This is an unconditional and irrevocable waiver of any rights and defenses the Guarantor guarantor may have because the Principal’s Obligations are debtor's debt is secured by real property. These rights and defenses include, but are not limited to, any rights or defenses based upon Section 580a, 580b, 580d, or 726 of the California Code of Civil Procedure. (ii) . The Guarantor guarantor waives all rights and defenses arising out of an election of remedies by the Principalcreditor, even though that election of remedies, such as a nonjudicial foreclosure with respect to security for an Obligationa guaranteed obligation, has destroyed the Guarantorguarantor's rights of subrogation and reimbursement against the Principal principal by the operation of Section 580d of the Code of Civil Procedure or otherwise. (d) Guarantor assumes all responsibility for keeping itself informed of Principal’s financial condition and all other factors affecting the risks and liability assumed by Guarantor hereunder, and Beneficiary shall have no duty to advise Guarantor of information known to it regarding such risks. (e) Guarantor waives any defense arising by reason of the incapacity, lack of authority or any disability or other defense of the Principal, failure of consideration or including, without limitation, any defense based on or arising out of the lack of validity or enforceability of the ObligationsObligations or by reason of the cessation of liability of the Principal under the Agreement for any reason but full performance or payment; (f) [Intentionally omitted]Guarantor waives any defense based upon Beneficiary's errors or omissions in the administration of the Obligations; (g) Guarantor waives its right to raise any defenses based upon promptness, diligence, and any requirement that Beneficiary protect, secure, perfect or insure any security interest or lien or any property subject thereto; (h) Guarantor waives its right to raise any other circumstances principles of law, statutory or otherwise, that limit the liability of or exonerate guarantors generally or guarantors, provide any legal or equitable discharge of Guarantor's obligations hereunder, or which may conflict with the terms of this Guaranty; (i) Other than demand for payment, the Guarantor hereby expressly waives all notices between the Beneficiary and the Principal including without limitation all notices with respect to the Agreement and this Guaranty, notice of acceptance of this Guaranty, any notice of credits extended and sales made by the Beneficiary to Principal, any information regarding Principal’s financial condition, and all other notices whatsoever; and (j) Guarantor waives filing of claims with a court in the event of the insolvency or bankruptcy of the Principal.

WAIVERS OF GUARANTOR. (a) [Intentionally omittedGuarantor waives, to the fullest extent permitted by law, the benefit of any statute of limitations affecting its liability under this Guaranty or the enforcement of this Guaranty.] (b) Guarantor waives any right to require Beneficiary to proceed against or exhaust any security held from Principal or any other party acting under a separate agreementagreement and waives any right under Section 2849 of the California Civil Code and any other benefit of or right to participate in any security now or hereafter held by Beneficiary. (c) [SCE comment: Delete this Subsection (c) if real property is not applicable.] Guarantor unconditionally and irrevocably waives all of the rights and defenses described in subdivision (a) of Section 2856 of the California Civil Code, including without limitation: any rights and defenses that are or may become available to the Guarantor by reason of Sections 2787 to 2855 thereof, inclusive. Without limiting the generality of the foregoing waiver: (i) The Guarantor waives ; all rights and defenses that the Guarantor a guarantor may have because the Principal’s Obligations are debtor's debt is secured by real property. This means, among other things: a. The Beneficiary : (a) the creditor may collect from the Guarantor guarantor without first foreclosing on any real or personal property collateral pledged by the Principal. b. If debtor; (b) if the Beneficiary creditor forecloses on any real property collateral pledged by the Principal: debtor: (1) The the amount of the Obligation debt may be reduced only by the price for which that collateral is sold at the foreclosure sale, even if the collateral is worth more than the sale price. ; and (2) The Beneficiary the creditor may collect from the Guarantor guarantor even if the Beneficiarycreditor, by foreclosing on the real property collateral, has destroyed any right the Guarantor guarantor may have to collect from the Principal. This is an unconditional and irrevocable waiver of debtor; any rights and defenses the Guarantor a guarantor may have because the Principal’s Obligations are debtor's debt is secured by real propertyproperty or an estate for years. These rights and defenses include, but are not limited to, any rights or defenses based upon Section 580a, 580b, 580d, or 726 of the California Code of Civil Procedure. (ii) The Guarantor waives ; and all rights and defenses arising out of an election of remedies by the Principalcreditor, even though that election of remedies, such as a nonjudicial foreclosure with respect to security for an Obligationa guaranteed obligation, has destroyed the Guarantorguarantor's rights of subrogation and reimbursement against the Principal principal by the operation of Section 580d of the Code of Civil Procedure or otherwise. (d) Guarantor assumes all responsibility for keeping itself informed of Principal’s financial condition and all other factors affecting the risks and liability assumed by Guarantor hereunder, and Beneficiary shall have no duty to advise Guarantor of information known to it regarding such risks. (e) Guarantor waives any defense arising by reason of the incapacity, lack of authority or any disability or other defense of the Principal, failure of consideration or including, without limitation, any defense based on or arising out of the lack of validity or enforceability of the ObligationsObligations or by reason of the cessation of liability of Principal under the Agreement for any reason but full performance or payment; (f) [Intentionally omitted]Guarantor waives any defense based upon Beneficiary's errors or omissions in the administration of the Obligations; (g) Guarantor waives its right to raise any defenses based upon promptness, diligence, and any requirement that Beneficiary protect, secure, perfect or insure any security interest or lien or any property subject thereto; (h) Guarantor waives its right to raise any other circumstances principles of law, statutory or otherwise, that limit the liability of or exonerate guarantors generally sureties or guarantors, provide any legal or equitable discharge of Guarantor's obligations hereunder; (i) Other than demand for payment, or which may conflict with the Guarantor expressly waives all notices between the Beneficiary and the Principal including without limitation all notices with respect to the Agreement and this Guaranty, notice of acceptance terms of this Guaranty, any notice of credits extended and sales made by the Beneficiary to Principal, any information regarding Principal’s financial condition, and all other notices whatsoever; and (j) Guarantor waives filing presentment and demand concerning the liabilities of claims with a court in the event of the insolvency or bankruptcy of the Principal.Guarantor, except as expressly hereinabove set forth;