Common use of Waivers of Subrogation and Other Rights Clause in Contracts

Waivers of Subrogation and Other Rights. During the existence of an Event of Default, Agent or any Lender in its sole discretion, without prior notice to or consent of Indemnitor, may elect to: (i) foreclose either judicially or nonjudicially against any real or personal property security it may hold for the Facility, (ii) accept a transfer of any such security in lieu of foreclosure, (iii) compromise or adjust the Facility or any part of it or make any other accommodation with Company or Indemnitor, or (iv) exercise any other remedy against Company or any security. No such action by Agent or any Lender shall release or limit the liability of Indemnitor, who shall remain liable under this Agreement after the action, even if the effect of the action is to deprive Indemnitor of any subrogation rights, rights of indemnity, or other rights to collect reimbursement from Company for any sums paid to Agent or any Lender, whether contractual or arising by operation of law or otherwise. Indemnitor expressly agrees that under no circumstances shall it be deemed to have any right, title, interest or claim in or to any real or personal property to be held by Agent or any Lender or any third party after any foreclosure or transfer in lieu of foreclosure of any security for the Facility.

Waivers of Subrogation and Other Rights. (a) During the existence of an Event of DefaultDefault by Borrower, Agent or any Lender in its sole discretionLender, without prior notice to or consent of IndemnitorGuarantor, may elect to: (i) foreclose either judicially or nonjudicially against any real or personal property security it may hold for the FacilityIndebtedness, (ii) accept a transfer of any such security in lieu of foreclosure, (iii) compromise or adjust the Facility Indebtedness or any part of it or make any other accommodation with Company Borrower or IndemnitorGuarantor, or (iv) exercise any other remedy against Company Borrower or any security. No such action by Agent or any Lender shall release or limit the liability of IndemnitorGuarantor, who shall remain liable under this Agreement Guaranty after the action, even if the effect of the action is to deprive Indemnitor Guarantor of any subrogation rights, rights of indemnity, or other rights to collect reimbursement from Company Borrower for any sums paid to Agent or any Lender, whether contractual or arising by operation of law or otherwise. Indemnitor Guarantor expressly agrees that under no circumstances shall it be deemed to have any right, title, interest or claim in or to any real or personal property to be held by Agent or any Lender or any third party after any foreclosure or transfer in lieu of foreclosure of any security for the FacilityIndebtedness.

Waivers of Subrogation and Other Rights. During the existence of an Event of DefaultDefault by Company, Agent or any Lender in its sole discretionLender, without prior notice to or consent of IndemnitorGuarantor, may elect to: (i) foreclose either judicially or nonjudicially against any real or personal property security it may hold for the FacilityIndebtedness, (ii) accept a transfer of any such security in lieu of foreclosure, (iii) compromise or adjust the Facility Indebtedness or any part of it or make any other accommodation with Company or IndemnitorGuarantor, or (iv) exercise any other remedy against Company or any security. No such action by Agent or any Lender shall release or limit the liability of IndemnitorGuarantor, who shall remain liable under this Agreement Guaranty after the action, even if the effect of the action is to deprive Indemnitor Guarantor of any subrogation rights, rights of indemnity, or other rights to collect reimbursement from Company for any sums paid to Agent or any Lender, whether contractual or arising by operation of law or otherwise. Indemnitor Guarantor expressly agrees that under no circumstances shall it be deemed to have any right, title, interest or claim in or to any real or personal property to be held by Agent or any Lender or any third party after any foreclosure or transfer in lieu of foreclosure of any security for the FacilityIndebtedness.