Waivers of Sellers. Each Seller waives notice of acceptance hereof, creation of any of the Guaranteed Obligations, or nonpayment or default by Purchaser under any of the Guaranteed Obligations or any agreement now or hereafter existing between Purchaser and Lender, presentment, demand, notice of dishonor, protest and any other notices whatsoever. Each Seller, without affecting its liability hereunder, consents to and waives notice of all changes of terms of the Guaranteed Obligations, the withdrawal or extension of credit or time to pay, the release of the whole or any part of the Guaranteed Obligations, renewal, indulgence, settlement, compromise or failure to exercise due diligence in collection, the acceptance or release of security, extension of the time to pay for any period or periods whether or not longer than the original period, or any surrender, substitution or release of any other person or entity directly or indirectly liable for any of the Guaranteed Obligations or any collateral security given by Purchaser. Each Seller agrees that it shall not exercise any right of subrogation, reimbursement or indemnity whatsoever and that it shall not exercise any rights with respect to any “claim” against Purchaser in any proceeding under Title 11 of the United States Code, as amended, and that, except as otherwise provided in this Agreement, it shall not exercise any right of recourse to or with respect to any assets or property of Purchaser or to any collateral for the Guaranteed Obligations, in each case unless and until all of the Guaranteed Obligations have been paid in full in cash and all financing arrangements between Lender and Purchaser have been terminated. Lender may, without notice of any kind, sell, assign or transfer any or all of the Guaranteed Obligations and in such event each and every immediate and successive assignee, transferee or holder of any of the Guaranteed Obligations shall have the right to enforce this Guaranty, by suit or otherwise for the benefit of such assignee, transferee or holder, as fully as if such assignee, transferee or holder were herein by name specifically given such rights, powers and benefits.
