Common use of Xxxxxxx and Delays Clause in Contracts

Xxxxxxx and Delays. To the fullest extent Indemnitor may do so under Laws, Indemnitor makes the waivers and agrees to be bound by the provisions of Section 6.06 and Section 6.07 of the Instrument, and, for the purpose of this covenant, all references in Section 6.06 and Section 6.07 to “Borrower” shall be deemed to refer to “Indemnitor”. In addition, Indemnitor waives and relinquishes all rights and remedies under Laws for the benefit of Indemnitor or guarantors except any rights of subrogation which any Indemnitor may have; provided, however, that the indemnity in this Agreement is not (a) contingent upon the existence of any such rights of subrogation or (b) subject to any claims or defenses which may be asserted in connection with the enforcement of such subrogation rights including any claim that such rights were abrogated by any acts of Lender. Notwithstanding the foregoing, Indemnitor agrees to postpone the exercise of any rights of subrogation with respect to the Property and any other collateral securing the Loan until the Loan shall have been paid in full. No delay by Xxxxxx in exercising any right, power or privilege under this Agreement shall operate as a waiver of any such privilege, power or right.