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

Waivers of Subrogation and Other Rights. (a) Upon a default by a Borrower, the Guaranteed and Secured Parties, in their sole discretion, without prior notice to or consent of the Guarantors, may elect to: (i) foreclose either judicially or nonjudicially against any real or personal property security it may hold for the Guaranteed Obligations, (ii) accept a transfer of any such security in lieu of foreclosure, (iii) compromise or adjust the Guaranteed Obligations or any part thereof or make any other accommodation with a Borrower or any Guarantor, or (iv) exercise any other remedy against a Borrower, any Guarantor or any security. No such action by the Guaranteed and Secured Parties shall release or limit the liability of the Guarantors, who shall remain liable under this Guaranty after the action, even if the effect of the action is to deprive the Guarantors of any subrogation rights, rights of indemnity, or other rights to collect reimbursement from a Borrower or any Guarantor for any sums paid to the Guaranteed and Secured Parties, whether contractual or arising by operation of law or otherwise. Each 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 the Guaranteed and Secured Parties or any third party after any foreclosure or transfer in lieu of foreclosure of any security for the Guaranteed Obligations.

Waivers of Subrogation and Other Rights. (a) Upon a default by a BorrowerDuring the existence of an Event of Default, subject to the Guaranteed Intercreditor Agreement and Secured Partiesthe other Collateral Documents, in their sole discretionAdministrative Agent or any Lender (subject to Section 8.02 of the Credit Agreement), without prior notice to or consent of the Guarantorsany Guarantor, may elect to: (i) foreclose either judicially or nonjudicially against any real or personal property security it may hold for the Guaranteed ObligationsIndebtedness, (ii) accept a transfer of any such security in lieu of foreclosure, (iii) compromise or adjust the Guaranteed Obligations Indebtedness or any part thereof of it or make any other accommodation with a Borrower Borrowers or any GuarantorGuarantors, or (iv) exercise any other remedy against a Borrower, any Guarantor Borrowers or any security. No such action by the Guaranteed and Secured Parties Administrative Agent or any Lender shall release or limit the liability of the Guarantors, who shall remain liable under this Guaranty after the action, even if the effect of the action is to deprive the Guarantors of any subrogation rights, rights of indemnity, or other rights to collect reimbursement from a Borrower or any Guarantor Borrowers for any sums paid to the Guaranteed and Secured PartiesAdministrative Agent or any Lender, whether contractual or arising by operation of law or otherwise. Each 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 the Guaranteed and Secured Parties Administrative Agent or any Lender or any third party after any foreclosure or transfer in lieu of foreclosure of any security for the Guaranteed ObligationsIndebtedness.

Waivers of Subrogation and Other Rights. (a) Upon a default by a the Borrower, the Guaranteed and Secured Parties, in their sole discretion, without prior notice to or consent of the Guarantors, may elect to: (i) foreclose either judicially or nonjudicially against any real or personal property security it may hold for the Guaranteed Obligations, (ii) accept a transfer of any such security in lieu lien of foreclosure, (iii) compromise or adjust the Guaranteed Obligations or any part thereof or make any other accommodation with a the Borrower or any Guarantor, or (iv) exercise any other remedy against a the Borrower, any Guarantor or any security. No such action by the Guaranteed and Secured Parties shall release or limit the liability of the Guarantors, who shall remain liable under this Guaranty after the action, even if the effect of the action is to deprive the Guarantors of any subrogation rights, rights of indemnity, or other rights to collect reimbursement from a the Borrower or any Guarantor for any sums paid to the Guaranteed and Secured Parties, whether contractual or arising by operation of law or otherwise. Each 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 the Guaranteed and Secured Parties or any third party after any foreclosure or transfer in lieu of foreclosure of any security for the Guaranteed Obligations.

Waivers of Subrogation and Other Rights. (a) Upon a default by a BorrowerDuring the existence of an Event of Default, subject to the Guaranteed Intercreditor Agreement and Secured Partiesthe other Collateral Documents, in their sole discretionAdministrative Agent or any Lender (subject to SECTION 8.02 of the Credit Agreement), without prior notice to or consent of the Guarantorsany Guarantor, may elect to: (i) foreclose either judicially or nonjudicially against any real or personal property security it may hold for the Guaranteed ObligationsIndebtedness, (ii) accept a transfer of any such security in lieu of foreclosure, (iii) compromise or adjust the Guaranteed Obligations Indebtedness or any part thereof of it or make any other accommodation with a Borrower Borrowers or any GuarantorGuarantors, or (iv) exercise any other remedy against a Borrower, any Guarantor Borrowers or any security. No such action by the Guaranteed and Secured Parties Administrative Agent or any Lender shall release or limit the liability of the Guarantors, who shall remain liable under this Guaranty after the action, even if the effect of the action is to deprive the Guarantors of any subrogation rights, rights of indemnity, or other rights to collect reimbursement from a Borrower or any Guarantor Borrowers for any sums paid to the Guaranteed and Secured PartiesAdministrative Agent or any Lender, whether contractual or arising by operation of law or otherwise. Each 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 the Guaranteed and Secured Parties Administrative Agent or any Lender or any third party after any foreclosure or transfer in lieu of foreclosure of any security for the Guaranteed ObligationsIndebtedness.

Waivers of Subrogation and Other Rights. (a) Upon a default by a Borrower, the Guaranteed and Secured Parties, in their sole discretion, without prior notice to or consent of the Guarantors, may elect to: (i) foreclose either judicially or nonjudicially against any real or personal property security it may hold for the Guaranteed Obligations, (ii) accept a transfer of any such security in lieu lien of foreclosure, (iii) compromise or adjust the Guaranteed Obligations or any part thereof or make any other accommodation with a Borrower or any Guarantor, or (iv) exercise any other remedy against a Borrower, any Guarantor or any security. No such action by the Guaranteed and Secured Parties shall release or limit the liability of the Guarantors, who shall remain liable under this Guaranty after the action, even if the effect of the action is to deprive the Guarantors of any subrogation rights, rights of indemnity, or other rights to collect reimbursement from a Borrower or any Guarantor for any sums paid to the Guaranteed and Secured Parties, whether contractual or arising by operation of law or otherwise. Each 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 the Guaranteed and Secured Parties or any third party after any foreclosure or transfer in lieu of foreclosure of any security for the Guaranteed Obligations.

Waivers of Subrogation and Other Rights. (a) Upon a default by a BorrowerDuring the existence of an Event of Default, subject to the Guaranteed Intercreditor Agreement and Secured Partiesthe other Collateral Documents, in their sole discretionAdministrative Agent or any Lender (subject to Section 8.02 of the Credit Agreement), without prior notice to or consent of the Guarantorsany Guarantor, may elect to: (i) foreclose either judicially or nonjudicially against any real or personal property security it may hold for the Guaranteed ObligationsIndebtedness, (ii) accept a transfer of any such security in lieu of foreclosure, (iii) compromise or adjust the Guaranteed Obligations Indebtedness or any part thereof of it or make any other accommodation with a Borrower Borrowers or any GuarantorGuarantors, or (iv) exercise any other remedy against a Borrower, any Guarantor Borrowers or any security. No such action by the Guaranteed and Secured Parties Administrative Agent or any Lender shall release or limit the liability of the Guarantors, who shall remain liable under this Guaranty after the action, even if the effect of the action is to deprive the Guarantors of any subrogation rights, rights of indemnity, or other rights to collect reimbursement from a Borrower or any Guarantor Borrowers for any sums paid to the Guaranteed and Secured PartiesCollateral Agent, Administrative Agent or any Lender, whether contractual or arising by operation of law or otherwise. Each 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 the Guaranteed and Secured Parties Collateral Agent, Administrative Agent or any Lender or any third party after any foreclosure or transfer in lieu of foreclosure of any security for the Guaranteed ObligationsIndebtedness.

Waivers of Subrogation and Other Rights. (a) Upon a default by a the Borrower, the Guaranteed Administrative Agent and Secured Parties, the Lenders in their sole discretion, without prior notice to or consent of the GuarantorsGuarantor, may elect to: (i) foreclose either judicially or nonjudicially against any real or personal property security it may hold for the Guaranteed Obligations, (ii) accept a transfer of any such security in lieu lien of foreclosure, (iii) compromise or adjust the Guaranteed Obligations or any part thereof or make any other accommodation with a the Borrower or any Guarantor, or (iv) exercise any other remedy against a Borrower, any Guarantor or any security. No such action by the Guaranteed and Secured Parties Administrative Agent or any Lender shall release or limit the liability of the GuarantorsGuarantor, who shall remain liable under this Guaranty after the action, even if the effect of the action is to deprive the Guarantors Guarantor of any subrogation rights, rights of indemnity, or other rights to collect reimbursement from a Borrower or any Guarantor for any sums paid to the Guaranteed and Secured PartiesAdministrative Agent or any Lender, whether contractual or arising by operation of law or otherwise. Each The 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 the Guaranteed and Secured Parties Administrative Agent or any Lender or any third party after any foreclosure or transfer in lieu of foreclosure of any security for the Guaranteed Obligations.