Gradsky, 265 Cal. App. 2d. 40 (1968). By executing this Agreement, Xxxxxxxxia Guarantor freely, irrevocably, and unconditionally: (i) waives and relinquishes that defense and agrees that California Guarantor will be fully liable under this Article even though Lender may foreclose, either by judicial foreclosure or by exercise of power of sale, any deed of trust securing the indebtedness; (ii) agrees that California Guarantor will not assert that defense in any action or proceeding which Lender may commence to enforce the guarantee set forth in this Article; (iii) acknowledges and agrees that the rights and defenses waived by California Guarantor in this Article include any right or defense that California Guarantor may have or be entitled to assert based upon or arising out of any one or more of Sections 580a, 580b, 580d, or 726 of the California Code of Civil Procedure or Section 2848 of the California Civil Code; and (iv) acknowledges and agrees that Lender is relying on this waiver in creating the indebtedness, and that this waiver is a material part of the consideration which Lender is receiving for creating the indebtedness.
Gradsky, 265 Cal. App.2d 40 (1968). By executing this Guaranty Agrxxxxxx, xxch Guarantor freely, irrevocably and unconditionally: (i) waives and relinquishes that defense and agrees that such Guarantor will be fully liable under this Guaranty Agreement even though the Administrative Agent may foreclose judicially or nonjudicially against any real property security for the Guaranteed Liabilities; (ii) agrees that such Guarantor will not assert that defense in any action or proceeding which any Secured Party may commence to enforce this Guaranty Agreement; (iii) acknowledges and agrees that the rights and defenses waived by such Guarantor under this Guaranty Agreement include any right or defense that such Guarantor may have or be entitled to assert based upon or arising out of any one or more of Sections 580a, 580b, 580d or 726 of the California Code of Civil Procedure or Section 2848 of the California Civil Code; and (iv) acknowledges and agrees that the Secured Parties are relying on this waiver in extending credit to the Borrower, and that this waiver is a material part of the consideration which the Secured Parties are receiving for such credit extensions. Without limiting the foregoing, each Guarantor hereby waives all rights and defenses arising out of an election of remedies by any of the Secured Parties, even though that election of remedies, such as a nonjudicial foreclosure with respect to the security held by the Administrative Agent for the Guaranteed Liabilities, has destroyed such Guarantor's rights of subrogation and reimbursement against the Borrower by the operation of Section 580d of the California Code of Civil Procedure. Without limiting the generality of the foregoing, to the fullest extent permitted by law, each Guarantor waives any and all other defenses or benefits that may be derived from or afforded by applicable law limiting the liability of or exonerating guarantors or sureties, or which may conflict with the terms of this Guaranty Agreement, including any rights and defenses available to each Guarantor by reason of Sections 2787 to 2855, inclusive, of the California Civil Code and any and all benefits that otherwise might be available to such Guarantor under California Civil Code Sections 1432, 2809, 2810, 2815, 2819, 2839, 2845, 2849, 2850, 2899 and 3433. Each Guarantor waives all rights and defenses that such Guarantor may have in the event that the Guaranteed Liabilities shall be secured by real property. This means, among other things:
Gradsky, 265 Cal. App.2d 40 (1968) or other --------------------- Applicable Law. With such understanding and without limitation on any of the foregoing provisions of this Section, by executing this Agreement, pursuant to AS 45.03.605(h) or other Applicable Law, the Guarantor freely, irrevocably and unconditionally (but subject to the Priority Agreement):
Gradsky, 265 Cal. App.2d 40 (1968). By executing this Agreexxxx, xxxx Borrower freely, irrevocably and unconditionally: (i) waives and relinquishes that defense and agrees that such Borrower will be fully liable hereunder and under the other Credit Documents even though the Agent may foreclose judicially or nonjudicially against any real property security for the Obligations; (ii) agrees that such Borrower will not assert that defense in any action or proceeding which the Agent or any of the Lenders may commence to enforce this Agreement; (iii) acknowledges and agrees that the rights and defenses waived by such Borrower hereunder include any right or defense that such Borrower may have or be entitled to assert based upon or arising out of any one or more of Sections 580a, 580b, 580d or 726 of the California Code of Civil Procedure or Section 2848 of the California Civil Code; and (iv) acknowledges and agrees that the Agent and each of the Lenders is relying on this waiver in making the Revolving Loans and other extensions of credit hereunder, and that this waiver is a material part of the consideration which the Agent and each Lender is receiving therefor.
