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

Waivers of Subrogation and Other Rights. (a) Upon a default by Borrower, Bank in its sole discretion, without prior notice to or consent of Guarantor, may elect to: (i) foreclose either judicially or nonjudicially against any real or personal property security it may hold for the Loan, (ji) accept a transfer of any such security in lieu of foreclosure, (ill) compromise or adjust the Loan or any part of it or make any other accornmodation with Borrower or Guarantor, or