Common use of Civil Code Section 2822 Clause in Contracts

Civil Code Section 2822. In the event that, at any time and for any ----------------------- reason, any Guarantor's liability with respect to any obligation guaranteed constitutes only a portion of the applicable obligation, each Guarantor hereby waives any right it might otherwise have under Section 2822 of the California Civil Code to have Borrower designate the portion of any such obligation to be satisfied in the event that Borrower provides partial satisfaction of such obligation. Each Guarantor acknowledges and agrees that Borrower may already have agreed with Lender, or may hereafter agree, that in any such event the designation of the portion of the obligation to be satisfied shall, to the extent not expressly made by the terms of the Loan Documents, be made by Lender rather than Borrower.