Guarantor’s Authorizations. Guarantor authorizes Lender, without notice or demand and without lessening Guarantor’s liability under this Guaranty, from time to time: (a) to make one or more additional secured or unsecured loans to Borrower, to lease equipment or other goods to Borrower, or otherwise to extend additional credit to Borrower; (b) to alter, compromise, renew, extend, accelerate, or otherwise change one or more times the time for payment or other terms of the Indebtedness or any part of the Indebtedness, including increases and decreases of the rate of interest on the Indebtedness; extensions may be repeated and may be for longer than the original loan term; (c) to take and hold security for the payment of this Guaranty or the Indebtedness, and exchange, enforce, waive, subordinate, fail or decide not to perfect, and release any such security, with or without the substitution of new collateral; (d) to release, substitute, agree not to xxx, or deal with any one or more of Borrower’s sureties, endorsers, or other guarantors on any terms or in any manner Lender may choose; (e) to determine how, when and what application of payments and credits shall be made on the Indebtedness; (f) to apply such security and direct the order or manner of sale thereof, including without limitation, any nonjudicial sale permitted by the terms of the controlling security agreement or mortgage, as Lender in its discretion may determine; (g) to sell, transfer, assign or grant participations in all or any part of the Indebtedness; and (h) to assign or transfer this Guaranty in whole or in part.
Guarantor’s Authorizations. Each Guarantor authorizes CompuDyne without notice or demand and without affecting such Guarantor’s liability hereunder, from time to time, to: (a) renew, compromise, extend, or change the terms of the Obligations or any part thereof upon a written agreement by the parties to the Agreement; (b) compromise disputes with Purchaser, or with anyone acting on behalf of either of them, including, without limitation, a trustee in bankruptcy, liquidation, or reorganization of either of them, other trustees, receivers, administrators, assignees for the benefit of creditors, or agents of it; and (c) apply any payments, as CompuDyne in its discretion, may determine. CompuDyne may, without notice, assign this Guaranty in whole or in part to any of its affiliates.
Guarantor’s Authorizations. The Agent, on behalf of the Lenders, shall have received the following, certified by the Secretary of each Guarantor on or near the Effective Date: (i) resolutions of the Board of Directors (or equivalent managing body) of such Guarantor which authorize such Guarantor to execute, deliver and perform the terms of the Guaranty, as the same is amended and restated, the Loan Documents and the Inter-creditor and Collateral Sharing Agreement, each as amended through the date hereof, (ii) such Guarantor’s Articles of Incorporation and Bylaws (or equivalent organizational documents), together with any and all amendments thereto, pursuant to which such Guarantor was constituted and is existing, and (iii) an incumbency certificate of each Guarantor setting forth the name(s) and specimen signature(s) of each representative of such Guarantor authorized by said resolutions to execute the Guaranty, as amended and restated, the Security Agreement, as amended, the Mortgage, as amended, and the Inter-creditor and Collateral Sharing Agreement, as amended on behalf of such Guarantor, in each case, in form and substance satisfactory to the Agent, on behalf of the Lenders.
Guarantor’s Authorizations. Guarantor authorizes Xxxxx Star, without notice or demand and without affecting Guarantor's liability hereunder, from time to time, to (a) renew, compromise, extend, or change the terms of the Indebtedness or any part thereof, or enter into additional or different agreements with IC One; (b) compromise disputes with IC One, any other Guarantor, or with anyone acting on behalf of IC One, including, without limitation, a trustee in bankruptcy, liquidation, or reorganization of IC One, other trustees, receivers, assignees for the benefit of creditors, or agents of IC One; (c) take and hold security for the payment of this Guaranty or the Indebtedness and exchange, enforce, waive, impair or release any or all such security; and (d) apply any payments received and the proceeds of any security, and direct the order or manner of sale of such security, as Xxxxx Star, in its discretion, may determine. Xxxxx Star may, without notice, assign this Guaranty in whole or in part.
