Common use of Guarantee Unconditional Clause in Contracts

Guarantee Unconditional. (a) This Guaranty is continuing in nature and shall be effective with respect to the full amount of all outstanding Obligations, now existing or hereafter made or extended, regardless of the amount. The Guarantor acknowledges and agrees that the number and amounts of outstanding Obligations may fluctuate from time to time hereafter, and that the Borrower may make payments to, and reborrow from, the Guaranteed Parties from time to time hereafter. The Guarantor expressly agrees that this Guaranty shall continue in full force and effect notwithstanding such fluctuations and payments, regardless of any invalidity of the underlying obligations and whether or not any Obligations are outstanding at any particular time, until the occurrence of the Facility Termination Date. (b) The Guarantor hereby waives notice of the Guaranteed Parties' acceptance of this Guaranty and the creation, extension or renewal of the Revolving Credit or Letter of Credit Commitments, or of any Loan, Letter of Credit, Reimbursement Obligation or other Obligation. The Guarantor hereby consents and agrees that, at any time or times, without notice to or further approval from any Guarantor, and without in any way affecting the obligations of the Guarantor hereunder, the Guaranteed Party may, with or without consideration (i) release, compromise with, or agree not to ▇▇▇, in whole or in part, the Borrower, the Guarantor or any other obligor, guarantor, endorser or surety on any Loan, Letter of Credit, Reimbursement Obligation or other Obligation, (ii) renew, extend, accelerate, or increase or decrease the principal amount of any Revolving Credit or Letter of Credit Commitment, Loan, Letter of Credit, Reimbursement Obligation or other Obligation, either in whole or in part, (iii) amend, waive, or otherwise modify any of the terms of any Revolving Credit or Letter of Credit Commitment, Loan, Letter of Credit, Reimbursement Obligation or other Obligation, or of any Security Instrument, Loan Document, mortgage, deed to secure debt, deed of trust, security agreement, or other undertaking of the Borrower or any other obligor, endorser, guarantor or surety in connection with any Revolving Credit or Letter of Credit Commitment, Loan, Letter of Credit, Reimbursement Obligation or other Obligation, and (iv) apply any payment received from the Borrower or from any other obligor, guarantor, endorser or surety on any Loan, Reimbursement Obligation or other Obligation to any of the liabilities of the Borrower or of such other obligor, guarantor, endorser, or surety which such Guaranteed Party may choose. (c) The Guarantor hereby consents and agrees that any Guaranteed Party may at any time or times, either with or without consideration, surrender, release or receive any property or other collateral of any kind or nature whatsoever held by it or for its account securing any Loan, Reimbursement Obligation or other Obligation, or substitute any collateral so held by such Guaranteed Party for other collateral of like or different kind, without notice to or further consent from the Guarantor, and such surrender, receipt, release or substitution shall not in any way affect the obligations of the Guarantor hereunder. Any Guaranteed Party shall have full authority to adjust, compromise, and receive less than the amount due upon any such collateral, and may enter into any accord and satisfaction agreement with respect to the same as such Guaranteed Party may deem advisable without affecting the obligations of the Guarantor hereunder. No Guaranteed Party shall be under any duty to undertake to collect upon such collateral or any part thereof, and the Guarantor's obligations hereunder shall not be affected by any Guaranteed Party's alleged negligence or mistake in judgment in handling, disposing of, obtaining, or failing to collect upon or perfect a security interest in, any such collateral.

Guarantee Unconditional. The Guarantors’ obligations hereunder are continuing, absolute and unconditional, regardless of any facts or circumstances which might otherwise constitute a legal or equitable discharge of, or a defense for, a Guarantor or surety. This absolute, continuing, unconditional, and unrestricted guaranty is a guaranty of payment and not a guaranty of collection. Upon Borrowers’ failure to pay the Guaranteed Obligations promptly when due, Bank, at its sole option, may proceed against the Guarantors to collect the Guaranteed Obligations, with or without proceeding against the Borrowers, any co-maker or co-surety or co-Guarantors, any indorser or any collateral held as security for the Guaranteed Obligations. Any and all payments upon the Guaranteed Obligations made by the Borrowers, the undersigned, or any other person, and the proceeds of any and all collateral securing the payment of the Guaranteed Obligations and this Guaranty, may be applied by Bank in whatever manner it may determine in its sole discretion. Without limiting the generality of the foregoing, the Guarantors agree that the Bank may take the following actions, without the knowledge or consent of the Guarantors and without affecting the liability of the Guarantors under this Guaranty: (a) This Guaranty is continuing in nature The Note or any other Loan Document may be modified or amended, and shall be effective with respect to the full amount all or any component of all outstanding Obligations, now existing or hereafter made or extended, regardless of the amount. The Guarantor acknowledges and agrees that the number and amounts of outstanding Guaranteed Obligations may fluctuate be renewed or the maturity may be extended from time to time hereafterat any rate or rates of interest; (b) Property now or hereafter held as security for or pertaining to the Guaranteed Obligations may be sold, exchanged, surrendered or otherwise dealt with by the Bank; and (c) Settlements, compromises, compositions, accounts stated and that agreed balances pertaining to the Borrower Guaranteed Obligations may make payments to, be affected in good faith between the Bank and reborrow fromthe Borrowers. In addition, the Guaranteed Parties from time to time hereafter. The Guarantor expressly agrees Guarantors agree that this Guaranty their obligations hereunder shall continue remain in full force and effect notwithstanding such fluctuations and payments, regardless of any invalidity of the underlying obligations and whether or not any Obligations are outstanding at any particular time, until the occurrence of the Facility Termination Date. (b) The Guarantor hereby waives notice of the Guaranteed Parties' acceptance of this Guaranty and the creation, extension or renewal of the Revolving Credit or Letter of Credit Commitments, or of any Loan, Letter of Credit, Reimbursement Obligation or other Obligation. The Guarantor hereby consents and agrees that, at any time or times, without notice to or further approval from any Guarantorregard to, and without in any way affecting the obligations of the Guarantor hereundershall not be released, the Guaranteed Party may, with discharged or without consideration affected by: (i) release, compromise withany exercise or nonexercise, or agree not to ▇▇▇delay in exercising, in whole any right, power or remedy under or in partrespect of the Note, the Borrower, the Guarantor this Guaranty or any other obligorLoan Document, guarantoror any waiver, endorser or surety on any Loanconsent, Letter of Credit, Reimbursement Obligation indulgence or other Obligation, action (or inaction) in respect of any of the same; (ii) renewany bankruptcy, extendinsolvency, acceleratearrangement, composition or increase similar proceedings commenced by or decrease the principal amount of any Revolving Credit or Letter of Credit Commitment, Loan, Letter of Credit, Reimbursement Obligation or other Obligation, against either in whole or in part, Borrower; (iii) amend, waiveany failure to perfect, or otherwise modify any of release or waiver of, any rights or security furnished to the terms of any Revolving Credit or Letter of Credit Commitment, Loan, Letter of Credit, Reimbursement Obligation or other Obligation, or of any Security Instrument, Loan Document, mortgage, deed to secure debt, deed of trust, security agreement, or other undertaking of the Borrower or any other obligor, endorser, guarantor or surety in connection Bank with any Revolving Credit or Letter of Credit Commitment, Loan, Letter of Credit, Reimbursement Obligation or other Obligation, and (iv) apply any payment received from the Borrower or from any other obligor, guarantor, endorser or surety on any Loan, Reimbursement Obligation or other Obligation respect to any of the liabilities Guaranteed Obligations; (iv) the genuineness, validity or enforceability of any of the Borrower or Loan Documents; (v) any limitations of such other obligor, guarantor, endorser, or surety liability of the Borrowers which such Guaranteed Party may choose. (c) The Guarantor hereby consents and agrees that any Guaranteed Party may at any time or times, either with or without consideration, surrender, release or receive any property or other collateral of any kind or nature whatsoever held by it or for its account securing any Loan, Reimbursement Obligation or other Obligation, or substitute any collateral so held by such Guaranteed Party for other collateral of like or different kind, without notice to or further consent from the Guarantor, and such surrender, receipt, release or substitution shall not be provided in any way affect the obligations Loan Document; or (vi) any other circumstances which might otherwise constitute a legal or equitable discharge of the a Guarantor hereunder. Any Guaranteed Party shall have full authority to adjust, compromise, and receive less than the amount due upon any such collateral, and may enter into any accord and satisfaction agreement with respect to the same as such Guaranteed Party may deem advisable without affecting the obligations of the Guarantor hereunder. No Guaranteed Party shall be under any duty to undertake to collect upon such collateral or any part thereof, and the Guarantor's obligations hereunder shall not be affected by any Guaranteed Party's alleged negligence or mistake in judgment in handling, disposing of, obtaining, or failing to collect upon or perfect a security interest in, any such collateralsurety.

Guarantee Unconditional. (The SXL Guarantee shall be unconditional and absolute and, without limiting the generality of the foregoing, shall not be release, discharged or otherwise affected by: a) This Guaranty is continuing any extension, renewal, settlement, compromise, waiver or release in nature and shall be effective with respect to the full amount of all outstanding Obligations, now existing or hereafter made or extended, regardless any obligation of the amount. The Guarantor acknowledges Partnership and agrees Regency Finance under the Indenture or the Outstanding Notes, by operation of law or otherwise; b) any modification or amendment of, or supplement to, the Indenture or the Outstanding Notes (other than a modification, amendment or supplement effected in accordance with the terms of the Indenture that expressly releases, discharges or otherwise affects the SXL Guarantee); c) any change in the corporate existence, structure or ownership of the Partnership and Regency Finance, or any insolvency, bankruptcy, reorganization or other similar proceeding affecting the Partnership and Regency Finance or their respective assets or any resulting release or discharge of any obligation of the Partnership and Regency Finance contained in the Indenture or the Outstanding Notes; d) the existence of any claim, set-off or other right that the number and amounts of outstanding Obligations SXL Guarantor may fluctuate from time to time hereafter, and that the Borrower may make payments to, and reborrow from, the Guaranteed Parties from time to time hereafter. The Guarantor expressly agrees that this Guaranty shall continue in full force and effect notwithstanding such fluctuations and payments, regardless of any invalidity of the underlying obligations and whether or not any Obligations are outstanding at any particular time, until the occurrence of the Facility Termination Date. (b) The Guarantor hereby waives notice of the Guaranteed Parties' acceptance of this Guaranty and the creation, extension or renewal of the Revolving Credit or Letter of Credit Commitments, or of any Loan, Letter of Credit, Reimbursement Obligation or other Obligation. The Guarantor hereby consents and agrees that, have at any time or times, without notice to or further approval from any Guarantor, against the Partnership and without in any way affecting the obligations of the Guarantor hereunderRegency Finance, the Guaranteed Party may, with or without consideration (i) release, compromise with, or agree not to ▇▇▇, in whole or in part, the Borrower, the Guarantor Trustee or any other obligorPerson, guarantorwhether in connection with the Indenture or an unrelated transaction, endorser provided that nothing herein prevents the assertion of any such claim by separate suit or surety on compulsory counterclaim; e) any Loaninvalidity, Letter of Credit, Reimbursement Obligation irregularity or other Obligation, (ii) renew, extend, accelerateunenforceability relating to, or increase against the Partnership and Regency Finance for any reason of, the Indenture or decrease the Outstanding Notes, or any provision of applicable law or regulation purporting to prohibit the payment by the Partnership and Regency Finance of the principal amount of any Revolving Credit or Letter of Credit Commitment, Loan, Letter of Credit, Reimbursement Obligation or other Obligation, either in whole or in part, (iii) amend, waive, or otherwise modify any of interest on the terms of any Revolving Credit or Letter of Credit Commitment, Loan, Letter of Credit, Reimbursement Obligation or other Obligation, or of any Security Instrument, Loan Document, mortgage, deed to secure debt, deed of trust, security agreement, or other undertaking of the Borrower Outstanding Notes or any other obligor, endorser, guarantor or surety in connection with any Revolving Credit or Letter of Credit Commitment, Loan, Letter of Credit, Reimbursement Obligation or other Obligation, amount payable by the Partnership and (ivRegency Finance under the Indenture; or f) apply any payment received from the Borrower or from any other obligor, guarantor, endorser act or surety on any Loan, Reimbursement Obligation omission to act or other Obligation to any of the liabilities of the Borrower or of such other obligor, guarantor, endorser, or surety which such Guaranteed Party may choose. (c) The Guarantor hereby consents and agrees that any Guaranteed Party may at any time or times, either with or without consideration, surrender, release or receive any property or other collateral delay of any kind by the Partnership and Regency Finance, the Trustee or nature any other Person or any other circumstance whatsoever held by it which might, but for the provisions of this Section 2.02, constitute a legal or for its account securing any Loan, Reimbursement Obligation equitable discharge of or other Obligation, or substitute any collateral so held by such Guaranteed Party for other collateral of like or different kind, without notice to or further consent from the Guarantor, and such surrender, receipt, release or substitution shall not in any way affect the obligations of the Guarantor hereunder. Any Guaranteed Party shall have full authority to adjust, compromise, and receive less than the amount due upon any such collateral, and may enter into any accord and satisfaction agreement with respect defense to the same as such Guaranteed Party may deem advisable without affecting the obligations of the Guarantor hereunder. No Guaranteed Party shall be under any duty to undertake to collect upon such collateral or any part thereof, and the SXL Guarantor's ’s obligations hereunder shall not be affected (other than an act contemplated by any Guaranteed Party's alleged negligence or mistake the parenthetical in judgment in handling, disposing of, obtaining, or failing to collect upon or perfect a security interest in, any such collateralSection 2.02(b) above).

Guarantee Unconditional. The Guarantor’s obligations hereunder are continuing, absolute and unconditional, regardless of any facts or circumstances which might otherwise constitute a legal or equitable discharge of, or a defense for, a guarantor or surety. This absolute, continuing, unconditional, and unrestricted guaranty is a guaranty of payment and not a guaranty of collection. Upon Borrower’s failure to pay the Guaranteed Obligations promptly when due, Bank, at its sole option, may proceed against the Guarantor, jointly and severally, to collect the Guaranteed Obligations, with or without proceeding against the Borrower, any co-maker or co-surety or co-Guarantor, any indorser or any collateral held as security for the Guaranteed Obligations. Any and all payments upon the Guaranteed Obligations made by the Borrower, the undersigned, or any other person, and the proceeds of any and all collateral securing the payment of the Guaranteed Obligations and this guaranty, may be applied by Bank in whatever manner it may determine in its sole discretion. Without limiting the generality of the foregoing, the Guarantor agrees that the Bank may take the following actions, without the knowledge or consent of the Guarantor and without affecting the liability of the Guarantor under this Guaranty: (a) This Guaranty is continuing in nature The Note or any other Loan Document may be modified or amended, and shall be effective with respect to the full amount all or any component of all outstanding Obligations, now existing or hereafter made or extended, regardless of the amount. The Guarantor acknowledges and agrees that the number and amounts of outstanding Guaranteed Obligations may fluctuate be renewed or the maturity may be extended from time to time hereafterat any rate or rates of interest; (b) Property now or hereafter held as security for or pertaining to the Guaranteed Obligations may be sold, exchanged, surrendered or otherwise dealt with by the Bank; and (c) Settlements, compromises, compositions, accounts stated and that agreed balances pertaining to the Borrower Guaranteed Obligations may make payments to, be affected in good faith between the Bank and reborrow fromthe Borrower. In addition, the Guaranteed Parties from time to time hereafter. The Guarantor expressly agrees that this Guaranty their obligations hereunder shall continue remain in full force and effect notwithstanding such fluctuations and payments, regardless of any invalidity of the underlying obligations and whether or not any Obligations are outstanding at any particular time, until the occurrence of the Facility Termination Date. (b) The Guarantor hereby waives notice of the Guaranteed Parties' acceptance of this Guaranty and the creation, extension or renewal of the Revolving Credit or Letter of Credit Commitments, or of any Loan, Letter of Credit, Reimbursement Obligation or other Obligation. The Guarantor hereby consents and agrees that, at any time or times, without notice to or further approval from any Guarantorregard to, and without in any way affecting the obligations of the Guarantor hereundershall not be released, the Guaranteed Party may, with discharged or without consideration affected by: (i) release, compromise withany exercise or nonexercise, or agree not to ▇▇▇delay in exercising, in whole any right, power or remedy under or in partrespect of the Note, the Borrower, the Guarantor this Guaranty or any other obligorLoan Document, guarantoror any waiver, endorser or surety on any Loanconsent, Letter of Credit, Reimbursement Obligation indulgence or other Obligation, action (or inaction) in respect of any of the same; (ii) renewany bankruptcy, extendinsolvency, acceleratearrangement, composition or increase similar proceedings commenced by or decrease against the principal amount of any Revolving Credit or Letter of Credit Commitment, Loan, Letter of Credit, Reimbursement Obligation or other Obligation, either in whole or in part, Borrower; (iii) amend, waiveany failure to perfect, or otherwise modify any of release or waiver of, any rights or security furnished to the terms of any Revolving Credit or Letter of Credit Commitment, Loan, Letter of Credit, Reimbursement Obligation or other Obligation, or of any Security Instrument, Loan Document, mortgage, deed to secure debt, deed of trust, security agreement, or other undertaking of the Borrower or any other obligor, endorser, guarantor or surety in connection Bank with any Revolving Credit or Letter of Credit Commitment, Loan, Letter of Credit, Reimbursement Obligation or other Obligation, and (iv) apply any payment received from the Borrower or from any other obligor, guarantor, endorser or surety on any Loan, Reimbursement Obligation or other Obligation respect to any of the liabilities Guaranteed Obligations; (iv) the genuineness, validity or enforceability of any of the Loan Documents; (v) any limitations of liability of the Borrower or of such other obligor, guarantor, endorser, or surety which such Guaranteed Party may choose. (c) The Guarantor hereby consents and agrees that any Guaranteed Party may at any time or times, either with or without consideration, surrender, release or receive any property or other collateral of any kind or nature whatsoever held by it or for its account securing any Loan, Reimbursement Obligation or other Obligation, or substitute any collateral so held by such Guaranteed Party for other collateral of like or different kind, without notice to or further consent from the Guarantor, and such surrender, receipt, release or substitution shall not be provided in any way affect the obligations Loan Document; or (vi) any other circumstances which might otherwise constitute a legal or equitable discharge of the Guarantor hereunder. Any Guaranteed Party shall have full authority to adjust, compromise, and receive less than the amount due upon any such collateral, and may enter into any accord and satisfaction agreement with respect to the same as such Guaranteed Party may deem advisable without affecting the obligations of the Guarantor hereunder. No Guaranteed Party shall be under any duty to undertake to collect upon such collateral a guarantor or any part thereof, and the Guarantor's obligations hereunder shall not be affected by any Guaranteed Party's alleged negligence or mistake in judgment in handling, disposing of, obtaining, or failing to collect upon or perfect a security interest in, any such collateralsurety.

Guarantee Unconditional. (a) This Guaranty is continuing in nature and Upon failure of payment when due of any amount so guaranteed for whatever reason, Union will be obligated to pay the same immediately. Union hereby agrees that its obligations hereunder shall be effective with respect continuing, absolute and unconditional, irrespective of: any delays in obtaining or realizing upon or failure to obtain or realize upon Trust Property; the full amount of all outstanding Obligations, now existing or hereafter made or extended, regardless of the amount. The Guarantor acknowledges and agrees that the number and amounts of outstanding Obligations may fluctuate from time to time hereafter, and that the Borrower may make payments to, and reborrow from, the Guaranteed Parties from time to time hereafter. The Guarantor expressly agrees that this Guaranty shall continue in full force and effect notwithstanding such fluctuations and payments, regardless recovery of any invalidity judgment against Procor or Union; any extension, renewal settlement, compromise, waiver or release in respect of any obligation of Procor under this Pass Through Trust Agreement or the underlying obligations and whether Procor ETC, by operation of law or not otherwise; any Obligations are outstanding at modification or amendment of or supplement to this Pass Through Trust Agreement or the Procor ETC; any particular timechange in the corporate existence, until the occurrence structure or ownership of the Facility Termination Date. (b) The Guarantor hereby waives notice of the Guaranteed Parties' acceptance of this Guaranty and the creation, extension or renewal of the Revolving Credit or Letter of Credit CommitmentsProcor, or any insolvency, bankruptcy, reorganization or other similar proceeding affecting Procor or its assets or any resulting release or discharge of any Loanobligation of Procor contained in this Pass Through Trust Agreement or the Procor ETC; the existence of any claim, Letter of Credit, Reimbursement Obligation set-off or other Obligation. The Guarantor hereby consents and agrees that, rights which Union may have at any time or times, without notice to or further approval from any Guarantor, and without in any way affecting the obligations of the Guarantor hereunderagainst Procor, the Guaranteed Party mayPass Through Trustee, with or without consideration (i) release, compromise with, or agree not to ▇▇▇, in whole or in part, the Borrower, the Guarantor any Certificateholder or any other obligorPerson, guarantor, endorser whether in connection herewith or surety on any Loan, Letter unrelated transactions; provided that nothing herein shall prevent the assertion of Credit, Reimbursement Obligation any such claim by separate suit or other Obligation, (ii) renew, extend, acceleratecompulsory counterclaim; any invalidity or unenforceability relating to or against Procor for any reason of this Pass Through Trust Agreement or the Procor ETC, or increase any provision of applicable law or decrease regulation purporting to prohibit the payment by Procor of the principal amount of any Revolving Credit or Letter of Credit Commitment, Loan, Letter of Credit, Reimbursement Obligation or other Obligation, either in whole or in part, (iii) amend, waive, or otherwise modify any of interest on the terms of any Revolving Credit or Letter of Credit Commitment, Loan, Letter of Credit, Reimbursement Obligation or other Obligation, or of any Security Instrument, Loan Document, mortgage, deed to secure debt, deed of trust, security agreement, or other undertaking of the Borrower Procor ETC or any other obligoramount payable by Procor under this Pass Through Trust Agreement, endorser, guarantor or surety in connection with any Revolving Credit the Procor ETC; or Letter of Credit Commitment, Loan, Letter of Credit, Reimbursement Obligation or other Obligation, and (iv) apply any payment received from the Borrower or from any other obligor, guarantor, endorser act or surety on any Loan, Reimbursement Obligation omission to act or other Obligation to any of the liabilities of the Borrower or of such other obligor, guarantor, endorser, or surety which such Guaranteed Party may choose. (c) The Guarantor hereby consents and agrees that any Guaranteed Party may at any time or times, either with or without consideration, surrender, release or receive any property or other collateral delay of any kind or nature whatsoever held by it or for its account securing Procor, the Pass Through Trustee, any Loan, Reimbursement Obligation or other ObligationCertificateholder, or substitute any collateral so held by such Guaranteed Party other Person or any other circumstance whatsoever which might, but for other collateral the provisions of like this paragraph, constitute a legal or different kind, without notice to or further consent from the Guarantor, and such surrender, receipt, release or substitution shall not in any way affect the equitable discharge of Union's obligations of the Guarantor hereunder. Any Guaranteed Party shall have full authority to adjustUnion hereby waives diligence, compromisepresentment, and receive less than demand of payment, filing of claims with a court in the amount due upon any such collateral, and may enter into any accord and satisfaction agreement with respect to the same as such Guaranteed Party may deem advisable without affecting the obligations of the Guarantor hereunder. No Guaranteed Party shall be under any duty to undertake to collect upon such collateral or any part thereof, and the Guarantor's obligations hereunder shall not be affected by any Guaranteed Party's alleged negligence or mistake in judgment in handling, disposing event of, obtaining, or failing to collect upon or perfect a security interest in, any such collateral.

Guarantee Unconditional. (a) This Guaranty is continuing in nature and shall be effective with respect to the full amount of all outstanding Obligations, now existing or hereafter made or extended, regardless of the amount. The Each Guarantor acknowledges and agrees that the number and amounts of outstanding Obligations may fluctuate from time to time hereafter, and that the Borrower may make payments to, and reborrow from, the Guaranteed Parties from time to time hereafter. The Each Guarantor expressly agrees that this Guaranty shall continue in full force and effect notwithstanding such fluctuations and payments, regardless of any invalidity of the underlying obligations and whether or not any Obligations are outstanding at any particular time, until the occurrence of the Facility Termination Date. (b) The Each Guarantor hereby waives notice of the Guaranteed Parties' acceptance of this Guaranty and the creation, extension or renewal of the Revolving Credit or and Letter of Credit Commitments, or of any Loan, Letter of Credit, Reimbursement Obligation or other Obligation. The Each Guarantor hereby consents and agrees that, at any time or times, without notice to or further approval from any Guarantor, and without in any way affecting the obligations of the any Guarantor hereunder, the Guaranteed Party may, with or without consideration (i) release, compromise with, or agree not to ▇▇▇, in whole or in part, the Borrower, the any Guarantor or any other obligor, guarantor, endorser or surety on any Loan, Letter of Credit, Reimbursement Obligation or other Obligation, (ii) renew, extend, accelerate, or increase or decrease the principal amount of any Revolving Credit or and Letter of Credit Commitment, Loan, Letter of Credit, Reimbursement Obligation or other Obligation, either in whole or in part, (iii) amend, waive, or otherwise modify any of the terms of any Revolving Credit or and Letter of Credit Commitment, Loan, Letter of Credit, Reimbursement Obligation or other Obligation, or of any Security Instrument, Loan Document, mortgage, deed to secure debt, deed of trust, security agreement, or other undertaking of the Borrower or any other obligor, endorser, guarantor or surety in connection with any Revolving Credit or and Letter of Credit Commitment, Loan, Letter of Credit, Reimbursement Obligation or other Obligation, and (iv) apply any payment received from the Borrower or from any other obligor, guarantor, endorser or surety on any Loan, Reimbursement Obligation or other Obligation to any of the liabilities of the Borrower or of such other obligor, guarantor, endorser, or surety which such Guaranteed Party may choose. (c) The Each Guarantor hereby consents and agrees that any Guaranteed Party may at any time or times, either with or without consideration, surrender, release or receive any property or other collateral of any kind or nature whatsoever held by it or for its account securing any Loan, Reimbursement Obligation or other Obligation, or substitute any collateral so held by such Guaranteed Party for other collateral of like or different kind, without notice to or further consent from the any Guarantor, and such surrender, receipt, release or substitution shall not in any way affect the obligations of the any Guarantor hereunder. Any Guaranteed Party shall have full authority to adjust, compromise, and receive less than the amount due upon any such collateral, and may enter into any accord and satisfaction agreement with respect to the same as such Guaranteed Party may deem advisable without affecting the obligations of the any Guarantor hereunder. No Guaranteed Party shall be under any duty to undertake to collect upon such collateral or any part thereof, and the each Guarantor's obligations hereunder shall not be affected by any Guaranteed Party's alleged negligence or mistake in judgment in handling, disposing of, obtaining, or failing to collect upon or perfect a security interest in, any such collateral.