Common use of Consents, Waivers and Renewals Clause in Contracts

Consents, Waivers and Renewals. The Guarantor agrees that the Beneficiary may at any time and from time to time, either before or after maturity thereof, without notice to or further consent of the Guarantor, extend the time of payment of any of NPT’s obligations under the Agreement, or accept, exchange or surrender any collateral therefor, or renew the Agreement, and may also make any agreement with NPT or with any other party to, or Person liable for any of the obligations contemplated in, the Agreement, or interested therein, for the extension, renewal, payment, compromise, discharge or release thereof, in whole or in part, or for any modification of the terms thereof or of any agreement between the Beneficiary and NPT or any such other party or Person, without in any way impairing or affecting this Guaranty. The obligations of the Guarantor hereunder are independent of the obligations of NPT, and the Guarantor agrees that the Beneficiary may resort to the Guarantor for payment of the Guaranteed Obligations, whether or not the Beneficiary shall have resorted to any collateral security, or shall have proceeded against any other obligor principally or secondarily obligated with respect to any of the Guaranteed Obligations, and whether or not NPT is joined in an action or proceeding against the Guarantor or a separate action or actions are brought against NPT.

Consents, Waivers and Renewals. The Guarantor agrees that the Beneficiary may at any time and from time to time, either before or after maturity thereof, without notice to or further consent of the Guarantor, extend the time of payment of any of NPTHQSub’s obligations under the Agreement, or accept, exchange or surrender any collateral therefor, or renew the Agreement, and may also make any agreement with NPT HQSub or with any other party to, or Person liable for any of the obligations contemplated in, the Agreement, or interested therein, for the extension, renewal, payment, compromise, discharge or release thereof, in whole or in part, or for any modification of the terms thereof or of any agreement between the Beneficiary and NPT HQSub or any such other party or Person, without in any way impairing or affecting this Guaranty. The obligations of the Guarantor hereunder are independent of the obligations of NPTHQSub, and the Guarantor agrees that the Beneficiary may resort to the Guarantor for payment of the Guaranteed Obligations, whether or not the Beneficiary shall have resorted to any collateral security, or shall have proceeded against any other obligor principally or secondarily obligated with respect to any of the Guaranteed Obligations, and whether or not NPT HQSub is joined in an action or proceeding against the Guarantor or a separate action or actions are brought against NPTHQSub.

Consents, Waivers and Renewals. The Guarantor agrees that the Beneficiary BeneficiaryBeneficiaries may at any time and from time to time, either before or after maturity thereof, without notice to or further consent of the Guarantor, extend the time of payment of any of NPT’s payment obligations under the Agreement, or acceptAgreements, exchange or surrender any collateral therefor, or renew the AgreementAgreementAgreements, and may also make any agreement with NPT HQUS or with any other party to, or Person person liable for for, on any of the obligations contemplated in, in the AgreementAgreementAgreements, or interested therein, for the extension, renewal, payment, compromise, discharge or release thereof, in whole or in part, or for any modification of the terms thereof or of any agreement between the Beneficiary BeneficiaryBeneficiaries and NPT HQUS or any such other party or Personperson, without in any way impairing or affecting this Guaranty. The obligations of the Guarantor hereunder are independent of the obligations of NPT, and the Guarantor agrees that the Beneficiary BeneficiaryBeneficiaries may resort to the Guarantor for payment in virtue of the Guaranteed ObligationsAgreementAgreements, whether or not the Beneficiary BeneficiaryBeneficiaries shall have resorted to any collateral security, or shall have proceeded against any other obligor principally or secondarily obligated with respect to any of the Guaranteed Obligations, and whether or not NPT is joined obligations in an action or proceeding against virtue of the Guarantor or a separate action or actions are brought against NPTAgreementAgreements.