Obligations Not Impaired. (a) Guarantor agrees that its obligations hereunder shall not be released, diminished, impaired, reduced or affected by the occurrence of any one or more of the following events: (i) the death, disability or lack of corporate power of Borrower, Guarantor (except as provided in Paragraph 10 herein) or any other ------------ guarantor of all or any part of the Guaranteed Indebtedness, (ii) any receivership, insolvency, bankruptcy or other proceedings affecting Borrower, Guarantor or any other guarantor of all or any part of the Guaranteed Indebtedness, or any of their respective property; (iii) the partial or total release or discharge of Borrower or any other guarantor of all or any part of the Guaranteed Indebtedness, or any other person or entity from the performance of any obligation contained in any instrument or agreement evidencing, governing or securing all or any part of the Guaranteed Indebtedness, whether occurring by reason of law or otherwise; (iv) the taking or accepting of any collateral for all or any part of the Guaranteed Indebtedness or this Guaranty; (v) the taking or accepting of any other guaranty for all or any part of the Guaranteed Indebtedness; (vi) any failure by Lender to acquire, perfect or continue any lien or security interest on collateral securing all or any part of the Guaranteed Indebtedness or this Guaranty; (vii) the impairment of any collateral securing all or any part of the Guaranteed Indebtedness or this Guaranty; (viii) any failure by Lender to sell any collateral securing all or any part of the Guaranteed Indebtedness or this Guaranty in a commercially reasonable manner or as otherwise required by law; (ix) any invalidity or unenforceability of or defect or deficiency in any of the Loan Documents; or (x) any other circumstance which might otherwise constitute a defense available to, or discharge of, Borrower or any other guarantor of all or any part of the Guaranteed Indebtedness.
(b) This Guaranty shall continue to be effective or be reinstated, as the case may be, if at any time any payment of all or any part of the Guaranteed Indebtedness is rescinded or must otherwise be returned by Lender upon the insolvency, bankruptcy or reorganization of Borrower, Guarantor, any other guarantor of all or any part of the Guaranteed Indebtedness, or otherwise, all as though such payment had not been made.
(c) In the event Borrower is a corporation, joint stock association or partnership, or is hereafter incorporated, none of t...
Obligations Not Impaired. The obligations of Guarantors under this Guaranty shall not be released or impaired without the express prior written consent of Creditor. Without limiting the generality of the foregoing, the obligations of Guarantors shall not be released or impaired on account of the following events:
(a) the voluntary or involuntary liquidation, sale or other disposition of all or substantially all of the assets of debtor, or any receivership, insolvency, bankruptcy, reorganization or other similar proceedings affecting Debtor or any of its assets:
(b) the addition of a new Guarantor or Guarantors:
(c) any impairment, modification, release or limitation of liability of, or stay of lien enforcement proceedings against, Debtor, its property, or its estate in bankruptcy or any modification, discharge or extension of the Indebtedness resulting from the operation of any present or future provision of the Federal Bankruptcy Code or any other similar federal or state statute, or from the decision of any court, it being the intention hereof that Guarantors shall remain liable on the Indebtedness, notwithstanding any act, omission or thing which might, but for the provisions hereof, otherwise operate as a legal or equitable discharge of Guarantors;
(d) Creditor's failure to use diligence in preserving the liability of any person on the Indebtedness, or in bringing suit to enforce collection of the Indebtedness;
(e) the substitution or withdrawal of collateral or release of security, and the exercise or failure to exercise by Creditor of any right conferred upon it herein or in any collateral agreement;
(f) if Debtor is not liable because the act of creating the Indebtedness is ultra vires or the officers or persons creating the Indebtedness xxxxd in excess of their authority, or for any reason the Indebtedness cannot be enforced against Debtor;
(g) any payment by Debtor to Creditor if such payment is held to constitute a preference under the bankruptcy laws, or if for any other reason Creditor is required to refund such payment to Debtor or pay the amount thereof to any other party;
(h) if guarantors are or become liable for any Indebtedness owing by Debtor to Creditor, by endorsement or otherwise, other than under this Guaranty; or
(i) if this Guaranty is ever deemed invalid or unenforceable as to any of the Guarantors.
Obligations Not Impaired. No reference herein to the Fiscal Agency Agreement and no provision of this Note or of the Fiscal Agency Agreement shall alter or impair the obligation of the Issuer, subject to the Payment Restrictions, to pay the principal of and interest on this Note at the times, place and rate, and in the coin or currency, herein prescribed.
Obligations Not Impaired. Nothing contained in this Article 8 shall impair, as between the Company and any holder of Senior Subordinated Obligations, the obligation of the Company to pay to such holder the principal thereof and premium, if any, and interest thereon as and when the same shall become due and payable in accordance with the terms thereof, or prevent any holder of Senior Subordinated Obligations from exercising all rights, powers and remedies otherwise permitted by applicable law or under any agreement under which such Senior Subordinated Obligations were incurred, all subject to the rights of the holders of Senior Debt to receive cash, securities or other property otherwise payable or deliverable to the holders of Senior Subordinated Obligations.
Obligations Not Impaired. No present or future holder of any Senior Debt shall be prejudiced in the right to enforce subordination of Subordinated Debt by any act or failure to act on the part of the Company. Nothing contained in this Section 1 shall impair, as between the Company and any holder of Subordinated Debt, the obligation of the Company to pay to such holder the principal thereof and interest on the Subordinated Debt, as and when the same shall become due and payable in accordance with the terms thereof, or prevent any holder of any Subordinated Debt from exercising all rights, powers and remedies otherwise permitted by applicable law or under any agreement under which such Subordinated Debt was incurred, all subject to the rights of the holders of the Senior Debt to receive cash, securities or other property otherwise payable or deliverable to the holders of Subordinated Debt as provided in this Section 1.
Obligations Not Impaired. Except to the extent this Guaranty provides that (i) this Guaranty may not become due and payable or be paid, and (ii) the Holder may not commence or join in any proceeding under any Bankruptcy Law unless the holders of Senior Debt shall also join in bringing such proceeding, nothing contained in this Guaranty shall impair, as between Loral Space and the Holder, the obligation of Loral Space, which is absolute and unconditional, to pay to the Holder the principal hereof and interest hereon as and when the same shall become due and payable in accordance with the terms hereof.
Obligations Not Impaired. The Pledgor hereby waives diligence, presentment, demand, protest and notice of any kind whatsoever in respect to the Loan or the Pledged Stock, as well as any requirement that the Lender exhaust any right or remedy or take any action in connection therewith or in connection with this Agreement, or any other instrument evidencing, guaranteeing or securing the Loan. No right or remedy herein conferred upon or reserved to the Lender is intended to be exclusive of any other right or remedy, and the Lender may exercise all rights and remedies given hereunder or now or hereafter existing at law or in equity. The obligations of the Pledgor hereunder shall not be affected or impaired by reason of the happening from time to time of any of the following, although without notice to or the consent of the Pledgor:
(a) the waiver by the Lender of the performance or observance by any other person or entity with regard to the Loan;
(b) the voluntary or involuntary liquidation, dissolution, sale of all or substantially all of the assets, marshalling of assets and liabilities, receivership, conservatorship, insolvency, bankruptcy, assignment for the benefit of creditors, reorganization, arrangement, winding up, or other similar proceedings affecting the Pledgor, or any Company;
(c) the release by operation of law or any other person or entity from the performance or observance of any of the agreements, covenants, terms or conditions contained in the documents or instruments evidencing or securing the Loan.
Obligations Not Impaired. Nothing contained in this Note is intended to or will impair as between the Company, its creditors, and the Holder, the obligation of the Company, which is absolute and unconditional, to pay to the Holder as and when amounts become due and payable in accordance with the terms of this Note or affect the relative rights of the Holder and the creditors of the Company.
Obligations Not Impaired. Nothing contained in this Promise is intended to or will impair as between the Company, its creditors, and the Holder, the obligation of the Company, which is absolute and unconditional, to pay to the Holder as and when amounts become due and payable in accordance with the terms of this Promise or affect the relative rights of the Holder and the creditors of the Company.
Obligations Not Impaired. The obligations of the Guarantors are intended to be in addition to and independent of those of the Borrower under the Guarantied Obligations. In addition, each Guarantor acknowledges that the Guarantors' obligations under this Agreement are independent of and in addition to the obligations of any other guarantor(s) under any other guaranty agreement(s) related to all or any part of the Guarantied Obligations. To that end, the obligations, undertakings and conditions to be performed or observed by the Guarantors under this Agreement shall not be affected or impaired by reason of the happening from time to time and one or more times of any of the following with respect to the Notes, the Loan Agreement, or any assignment of the rights of the Agent Bank under this Agreement whether or not with notice to, or further consent of, the Guarantors:
5.01 Waiver by the Agent Bank or any other person(s) of the observance or performance by (a) the Borrower of any obligation, undertaking or condition contained in the Notes, the Loan Agreement or any other of the Loan Documents, or (b) any other guarantor of any liability or obligation contained in its guaranty agreement (except for the particular observance or performance so waived).
