Common use of Waivers of the Subordinate Lender Clause in Contracts

Waivers of the Subordinate Lender. The Subordinate Lender agrees that: (i) the Senior Creditors have made no representations or warranties with respect to the due execution, legality, validity, completeness or enforceability of any agreement or instrument relating to the Intercreditor Agreement, the Credit Agreement, the Shell Energy Agreements, the Other Commodity Supply Agreements, the Guarantees, the Senior Security or the Senior Debt or the collectability of the Senior Debt; (ii) each Senior Creditor shall be entitled to manage and supervise its loans and other financial accommodations to the Borrowers and the Debtor in accordance with Applicable Law and its usual practices, modified from time to time as it deems appropriate under the circumstances, or otherwise, without regard to the existence of any rights that the Subordinate Lender may now or hereafter have in or to any of the assets of the Debtor; and (iii) each Senior Creditor shall have no liability to the Subordinate Lenders for, and, to the extent permitted by Applicable Law, the Subordinate Lender hereby waives any claims which the Subordinate Lender may now or hereafter have against the Senior Creditors out of, any and all actions which the Senior Creditors take or omit to take (including, without limitation, actions with respect to the creation, perfection or continuation of liens or security interest in any assets at any time securing payment of the Senior Debt, actions with respect to the occurrence of any default under any agreement or instrument relating to the Senior Debt, actions with respect to the release or depreciation of, or failure to realize upon, any assets securing payment of the Senior Debt and actions with respect to the collection of any claims or all or any part of the Senior Debt from any account debtor, guarantor or any other Person) with respect to the Senior Debt and any agreement or instrument related thereto or with respect to the collection of the Senior Debt or the valuation, use, protection or release of any assets securing payment of the Senior Debt.

Waivers of the Subordinate Lender. The Subordinate Lender agrees that: (i) the Senior Creditors have Lender has made no representations or warranties with respect to the due execution, legality, validity, completeness or enforceability of any agreement or instrument relating to the Intercreditor Agreement, the Credit Agreement, the Shell Energy Agreements, the Other Commodity Supply Agreements, the Guaranteesother Margin Loan Documentation, the Senior Security or the Senior Debt or the collectability of the Senior Debt; (ii) each the Senior Creditor Lender shall be entitled to manage and supervise its loans and other financial accommodations to the Borrowers and indebtedness of the Debtor in accordance with Applicable applicable Law and its usual practices, modified from time to time as it deems appropriate under the circumstances, or otherwise, without regard to the existence of any rights that the Subordinate Lender may now or hereafter have in or to any of the assets of the Debtorhave; and (iii) each the Senior Creditor Lender shall have no liability to the Debtor or the Subordinate Lenders Lender for, and, to the extent permitted by Applicable applicable Law, the Subordinate Lender hereby waives any claims which the Subordinate Lender it may now or hereafter have against the Senior Creditors Lender arising out of, any and all actions which the Senior Creditors take Lender takes or omit omits to take (including, without limitation, actions with respect to the creation, perfection or continuation of liens or security interest Liens in any assets at any time securing payment of the Senior Debt, actions with respect to the occurrence of any default under any agreement or instrument relating to the Senior Debt, actions with respect to the release or depreciation of, of or failure to realize upon, any assets securing payment of the Senior Debt and actions with respect to the collection of any claims or all or any part of the Senior Debt from any account debtor, guarantor or any other Person) with respect to the Senior Debt and any agreement or instrument related thereto or with respect to the collection of the Senior Debt or the valuation, use, protection or release of any assets securing payment of the Senior DebtDebt other than resulting from gross negligence or willful misconduct.