Common use of Enforcement of Guaranty Clause in Contracts

Enforcement of Guaranty. In no event shall (i) Borrower have any obligation (although it is entitled at its option) to proceed against TASL or any other Person or any real or personal property pledged to secure the Obligations, or (ii) Lender have any obligation (although it is entitled, at its option) to proceed against Borrower or TASL or any other Person or any real or personal property pledged to secure the Obligations, before seeking satisfaction from Guarantor. A Beneficiary may proceed, prior or subsequent to, or simultaneously with, the enforcement of such Beneficiary's rights hereunder, to exercise any right or remedy which it may have against any property, real or personal, as a result of any lien it may have as security for all or any portion of the Obligations.