Common use of Lien Absolute Clause in Contracts

Lien Absolute. (a) All rights of Secured Party hereunder, and all obligations of Pledgor hereunder, shall be absolute and unconditional and shall remain in full force and effect without regard to, and shall not be impaired or affected by, or deemed to be satisfied by, nor shall Pledgor or any Pledged Collateral be exonerated, discharged or released by, any of the following events: Secured Party's exercise or enforcement of or failure or delay in exercising or enforcing any legal proceedings to collect the Secured Obligations or any power, right or remedy with respect to the Secured Obligations, the Pledged Collateral or any other collateral held by Secured Party, including any action or inaction of Secured Party to perfect, protect or enforce any security interest in the Pledged Collateral or any other collateral, any impairment or suspension of the Pledged Collateral or any other collateral, Secured Party's compromise, exchange, release, settlement, amendment or waiver with or of any other Person, or the Pledged Collateral or any other collateral, or any change in the time, manner or place of payment of, or in any other term of, all or any part of the Secured Obligations, or any other amendment, impairment, renunciation, cancellation, surrender, suspension or waiver of the Note or any other agreement or instrument governing or evidencing any of the Secured Obligations; (b) Any insolvency, bankruptcy, reorganization, arrangement, adjustment, composition or assignment for the benefit of creditors of Secured Party or Pledgor, appointment of a receiver or trustee for all or any part of Secured Party's or Pledgor's assets or liquidation, winding up or dissolution of the Pledgor; (c) Any invalidity, voidability, unenforceability or irregularity, or future change to or amendment of, in whole or in part, the Secured Obligations, the Letter Agreement, this Agreement or any other agreements, documents or instruments evidencing any Secured Obligations; (d) Any merger, acquisition, consolidation or change in structure of Pledgor, or any sale, lease, transfer or other disposition of any or all of the assets of Pledgor; (e) Any assignment, endorsement or other transfer, in whole or in part, of Secured Party's interest in the Secured Obligations, the Pledged Collateral or any other collateral; (f) Any claim, defense, counterclaim or set-off, other than that of prior performance, that Pledgor may have or assert, including, but not limited to, any defense of incapacity, disability or lack of corporate or other authority to execute any documents relating to the Secured Obligations, the Pledged Collateral or any other collateral; (g) Secured Party's vote, claim, distribution, election, acceptance, action or inaction in any bankruptcy or reorganization case related to the Pledged Collateral or the Secured Obligations; or (h) Any cancellation, renunciation or surrender of any pledge or any other debt instrument evidencing the Secured Obligations.

Lien Absolute. (a) All rights Borrower acknowledges that this Security Instrument and a number of Secured Party hereunderother Loan Documents and those documents required by the Loan Documents together secure the Indebtedness. Borrower agrees that, to the extent permitted by law, the lien of this Security Instrument and all obligations of Pledgor hereunder, Borrower hereunder shall be absolute and unconditional and shall remain not in full force and effect without regard to, and shall not any manner be affected or impaired by: (a) any lack of validity or affected by, or deemed to be satisfied by, nor shall Pledgor enforceability of the Loan Agreement or any Pledged Collateral be exoneratedother Loan Document, discharged or released by, any agreement with respect to any of the following events: Secured Party's exercise Indebtedness or enforcement of or failure or delay in exercising or enforcing any legal proceedings to collect the Secured Obligations or any powerother agreement or instrument relating to any of the foregoing; (b) any acceptance by Lender of any security for or guarantees of any of the Indebtedness; MORTGAGE, right ASSIGNMENT OF RENTS AND LEASES, COLLATERAL ASSIGNMENT OF PROPERTY AGREEMENTS, (c) any failure, neglect or remedy with respect omission on the part of Lender to realize upon or protect any of the Secured Obligations, the Pledged Collateral Indebtedness or any other of the collateral held by Secured Partysecurity therefor, including the Loan Documents, or due to any action other circumstance which might otherwise constitute a defense available to, or inaction a discharge of, Borrower in respect of Secured Party to perfect, protect or enforce any security interest in the Pledged Collateral Indebtedness and Obligations hereby secured or any collateral security therefor, including the Loan Documents, or due to any other collateralcircumstance that might otherwise constitute a defense available to, any impairment or suspension a discharge of, Borrower in respect of the Pledged Collateral Indebtedness or any Obligations or this Security Instrument (other collateral, Secured Party's compromise, exchange, release, settlement, amendment or waiver with or than the indefeasible payment in full in cash of any other Person, or all the Pledged Collateral or any other collateral, or Indebtedness and Obligations hereby secured); (d) any change in the time, manner or place of payment of, or in any other term of, all or any part of the Secured Obligations, Indebtedness or any other amendment, impairment, renunciation, cancellation, surrender, suspension or waiver of the Note or any other agreement or instrument governing or evidencing any of the Secured Obligations; (be) Any insolvencyany release (except as to the property released), bankruptcysale, reorganizationpledge, arrangementsurrender, adjustmentcompromise, composition settlement, nonperfection, renewal, extension, indulgence, alteration, exchange, modification or assignment for the benefit disposition of creditors of Secured Party or Pledgor, appointment of a receiver or trustee for all or any part of Secured Party's or Pledgor's assets or liquidation, winding up or dissolution of the PledgorIndebtedness or Obligations hereby secured or of any of the collateral security therefor; (cf) Any invalidity, voidability, unenforceability any amendment or irregularity, waiver of or future change any consent to or amendment of, in whole or in part, any departure from the Secured Obligations, the Letter Agreement, this Loan Agreement or any other agreementsLoan Documents or of any guaranty thereof, documents or instruments evidencing if any, and Lender may in its discretion foreclose, exercise any Secured Obligations; (d) Any merger, acquisition, consolidation or change in structure power of Pledgorsale, or exercise any sale, lease, transfer or other disposition of remedy available to it under any or all of the assets Loan Documents without first exercising or enforcing any of Pledgor; (e) Any assignment, endorsement or other transfer, in whole or in part, of Secured Party's interest in the Secured Obligations, the Pledged Collateral or any other collateral; (f) Any claim, defense, counterclaim or set-off, other than that of prior performance, that Pledgor may have or assert, including, but not limited to, any defense of incapacity, disability or lack of corporate or other authority to execute any documents relating to the Secured Obligations, the Pledged Collateral or any other collateral;its rights and remedies hereunder; and (g) Secured Party's vote, claim, distribution, election, acceptance, action any exercise of the rights or inaction in remedies of Lender hereunder or under any bankruptcy or reorganization case related to all of the Pledged Collateral or the Secured Obligations; or (h) Any cancellation, renunciation or surrender of any pledge or any other debt instrument evidencing the Secured ObligationsLoan Documents.

Lien Absolute. (a) All rights ▇▇▇▇▇▇▇▇▇ acknowledges that this A&R Mortgage and a number of Secured Party hereunderother Loan Documents and those documents required by the Loan Documents together secure the Indebtedness. ▇▇▇▇▇▇▇▇▇ agrees that, to the extent permitted by law, the lien of this A&R Mortgage and all obligations of Pledgor hereunder, ▇▇▇▇▇▇▇▇▇ hereunder shall be absolute and unconditional and shall remain not in full force and effect without regard to, and shall not any manner be affected or impaired by: (a) any lack of validity or affected by, or deemed to be satisfied by, nor shall Pledgor enforceability of any portion of the Loan Agreement or any Pledged Collateral be exoneratedother Loan Document, discharged or released by, any agreement with respect to any of the following events: Secured Party's exercise Indebtedness or enforcement of or failure or delay in exercising or enforcing any legal proceedings to collect the Secured Obligations or any powerother agreement or instrument relating to any of the foregoing; (b) any acceptance by Mortgagee of any security for or guarantees of any of the Indebtedness; (c) any failure, right neglect or remedy with respect omission on the part of Mortgagee to realize upon or protect any of the Secured Obligations, the Pledged Collateral Indebtedness or any other of the collateral held by Secured Partysecurity therefor, including the Loan Documents, or due to any action other circumstance that might otherwise constitute a defense available to, or inaction a discharge of, Mortgagor in respect of Secured Party to perfect, protect or enforce any security interest in the Pledged Collateral Indebtedness and Obligations hereby secured or any collateral security therefor, including the Loan Documents, or due to any other collateralcircumstance that might otherwise constitute a defense available to, any impairment or suspension a discharge of, Mortgagor in respect of the Pledged Collateral Indebtedness or any Obligations or this A&R Mortgage (other collateral, Secured Party's compromise, exchange, release, settlement, amendment or waiver with or than the indefeasible payment in full in cash of any other Person, or all the Pledged Collateral or any other collateral, or Indebtedness and Obligations hereby secured); (d) any change in the time, manner or place of payment of, or in any other term of, all or any part of the Secured Obligations, Indebtedness or any other amendment, impairment, renunciation, cancellation, surrender, suspension or waiver of the Note or any other agreement or instrument governing or evidencing any of the Secured Obligations; (be) Any insolvencyany release (except as to the property released), bankruptcysale, reorganizationpledge, arrangementsurrender, adjustmentcompromise, composition settlement, nonperfection, renewal, extension, indulgence, alteration, exchange, modification or assignment for the benefit disposition of creditors of Secured Party or Pledgor, appointment of a receiver or trustee for all or any part of Secured Party's or Pledgor's assets or liquidation, winding up or dissolution of the PledgorIndebtedness or Obligations hereby secured or of any of the collateral security therefor; (cf) Any invalidity, voidability, unenforceability any amendment or irregularity, waiver of or future change any consent to or amendment of, in whole or in part, any departure from the Secured Obligations, the Letter Agreement, this Loan Agreement or any other agreementsLoan Documents or of any guaranty thereof, documents or instruments evidencing if any, and Mortgagee may in its discretion foreclose, exercise any Secured Obligations; (d) Any merger, acquisition, consolidation or change in structure power of Pledgorsale, or exercise any sale, lease, transfer or other disposition of remedy available to it under any or all of the assets Loan Documents without first exercising or enforcing any of Pledgor; (e) Any assignment, endorsement or other transfer, in whole or in part, of Secured Party's interest in the Secured Obligations, the Pledged Collateral or any other collateral; (f) Any claim, defense, counterclaim or set-off, other than that of prior performance, that Pledgor may have or assert, including, but not limited to, any defense of incapacity, disability or lack of corporate or other authority to execute any documents relating to the Secured Obligations, the Pledged Collateral or any other collateral;its rights and remedies hereunder; and (g) Secured Party's vote, claim, distribution, election, acceptance, action any exercise of the rights or inaction in remedies of Mortgagee hereunder or under any bankruptcy or reorganization case related to all of the Pledged Collateral or the Secured Obligations; or (h) Any cancellation, renunciation or surrender of any pledge or any other debt instrument evidencing the Secured ObligationsLoan Documents.

Lien Absolute. (a) All To the extent that the obligations secured under this Pledge Agreement constitute obligations other than those of Grantors, each Grantor agrees that this is a guaranty of payment and performance and not of collection, limited in recourse to Secured Party's rights in respect of the Collateral except with respect to the direct obligations of Grantors set forth herein. Each Grantor agrees that all rights of Secured Party hereunder, and all obligations of Pledgor such Grantor hereunder, shall be primary, absolute and unconditional and shall remain in full force and effect without regard to, and shall not be impaired irrespective of: (a) any lack of validity or affected byenforceability of, or deemed to be satisfied byany future amendment of, nor shall Pledgor or any Pledged Collateral be exonerated, discharged or released bychange in, any of the following events: Secured Party's exercise or enforcement of or failure or delay in exercising or enforcing any legal proceedings to collect the Secured Obligations or any power, right or remedy with respect to the Secured Obligations, the Pledged Collateral Loan Documents or any other collateral held by Secured Party, including agreement or instrument governing or evidencing any action or inaction of Secured Party to perfect, protect or enforce any security interest in the Pledged Collateral or any other collateral, any impairment or suspension of the Pledged Collateral or any other collateral, Secured Party's compromise, exchange, release, settlement, amendment or waiver with or of any other Person, or the Pledged Collateral or any other collateral, or Obligations; (b) any change in the time, manner or place of payment of, or in any other term of, all or any part of the Secured Obligations, or any other amendment, impairment, renunciation, cancellation, surrender, suspension amendment or waiver of or any consent to any departure from any of the Note Loan Documents or any other agreement or instrument governing or evidencing any Obligations; (c) any exchange, release or non-perfection of any Collateral, or any action, or the absence of any action, by Secured Party in respect thereof (including, without limitation, the release or amendment or waiver of or consent to departure from any guaranty, for all or any of the Obligations); (d) the insolvency of either Grantor; (e) the absence of any action to enforce this Pledge Agreement or the waiver or consent by Secured Party with respect to any of the provisions hereof; (f) any extension or waiver for the performance of, or compliance with, any term, covenant or agreement on its part to be performed or observed under the Loan Documents or any other agreement or instrument governing or evidencing any of the Secured Obligations; (b) Any insolvency, bankruptcy, reorganization, arrangement, adjustment, composition or assignment for the benefit of creditors of Secured Party or Pledgor, appointment of a receiver or trustee for all or any part of Secured Party's or Pledgor's assets or liquidation, winding up or dissolution of the Pledgor; (c) Any invalidity, voidability, unenforceability or irregularity, or future change to or amendment of, in whole or in part, the Secured Obligations, the Letter Agreement, this Agreement or any other agreements, documents or instruments evidencing any Secured Obligations; (d) Any merger, acquisition, consolidation or change in structure of Pledgor, or any salewaiver of such performance or compliance or consent to a failure of, leaseor departure from, transfer or other disposition such performance of compliance, for any or all obligor under any of the assets of Pledgor; (e) Any assignment, endorsement or other transfer, in whole or in part, of Secured Party's interest in the Secured Obligations, the Pledged Collateral or any other collateral; (f) Any claim, defense, counterclaim or set-off, other than that of prior performance, that Pledgor may have or assert, including, but not limited to, any defense of incapacity, disability or lack of corporate or other authority to execute any documents relating to the Secured Obligations, the Pledged Collateral or any other collateralforegoing; (g) Secured Party's vote, claim, distribution, election, acceptance, action or inaction the release of anyone who may be liable in any bankruptcy or reorganization case related to manner for the Pledged Collateral or payment of any of the Secured Obligations; orand (h) Any cancellation, renunciation or surrender of any pledge or any other debt instrument evidencing the Secured Obligationscircumstance which might otherwise constitute a legal or equitable discharge or defense available to, or a discharge of a surety or guarantor.

Lien Absolute. (a) All rights of Secured Party hereunder, and all obligations of Pledgor hereunder, shall be absolute and unconditional and shall remain in full force and effect without regard to, and shall not be impaired or affected by, or deemed to be satisfied by, nor shall Pledgor or any Pledged Collateral be exonerated, discharged or released by, any of the following events: : (a) Secured Party's exercise or enforcement of or failure or delay in exercising or enforcing any legal proceedings to collect the Secured Obligations or any power, right or remedy with respect to the Secured Obligations, the Pledged Collateral or any other collateral held by Secured Party, including any action or inaction of Secured Party to perfect, protect or enforce any security interest in the Pledged Collateral or any other collateral, any impairment or suspension of the Pledged Collateral or any other collateral, Secured Party's compromise, exchange, release, settlement, amendment or waiver with or of any other Person, or the Pledged Collateral or any other collateral, or any change in the time, manner or place of payment of, or in any other term of, all or any part of the Secured Obligations, or any other amendment, impairment, renunciation, cancellation, surrender, suspension or waiver of the Note or any other agreement or instrument governing or evidencing any of the Secured Obligations; (b) Any insolvency, bankruptcy, reorganization, arrangement, adjustment, composition or assignment for the benefit of creditors of Secured Party or Pledgor, appointment of a receiver or trustee for all or any part of Secured Party's or Pledgor's assets or liquidation, winding up or dissolution of the Pledgor; (c) Any invalidity, voidability, unenforceability or irregularity, or future change to or amendment of, in whole or in part, the Secured Obligations, the Letter AgreementNote, this Agreement or any other agreements, documents or instruments evidencing any Secured Obligations; (d) Any merger, acquisition, consolidation or change in structure of Pledgor, or any sale, lease, transfer or other disposition of any or all of the assets of Pledgor; (e) Any assignment, endorsement or other transfer, in whole or in part, of Secured Party's interest in the Secured Obligations, the Pledged Collateral or any other collateral; (f) Any claim, defense, counterclaim or set-off, other than that of prior performance, that Pledgor may have or assert, including, but not limited to, any defense of incapacity, disability or lack of corporate or other authority to execute any documents relating to the Secured Obligations, the Pledged Collateral or any other collateral; (g) Secured Party's vote, claim, distribution, election, acceptance, action or inaction in any bankruptcy or reorganization case related to the Pledged Collateral or the Secured Obligations; or (h) Any cancellation, renunciation or surrender of any pledge or any other debt instrument evidencing the Secured Obligations.

Lien Absolute. (a) All To the extent that the obligations secured under this Pledge Agreement constitute obligations other than those of Grantor, Grantor agrees that this is a guaranty of payment and performance and not of collection. Grantor agrees that all rights of Secured Party hereunder, and all obligations of Pledgor Grantor hereunder, shall be primary, absolute and unconditional and shall remain in full force and effect without regard to, and shall not be impaired irrespective of: (a) any lack of validity or affected byenforceability of, or deemed to be satisfied byany future amendment of, nor shall Pledgor or change in, the Preferred Certificate, the 2003-1 Trust Agreement, the Fee Letter or any Pledged Collateral be exonerated, discharged other agreement or released by, instrument governing or evidencing any of the following events: Secured Party's exercise or enforcement of or failure or delay in exercising or enforcing any legal proceedings to collect the Secured Obligations or any power, right or remedy with respect to the Secured Obligations, the Pledged Collateral or any other collateral held by Secured Party, including any action or inaction of Secured Party to perfect, protect or enforce any security interest in the Pledged Collateral or any other collateral, any impairment or suspension of the Pledged Collateral or any other collateral, Secured Party's compromise, exchange, release, settlement, amendment or waiver with or of any other Person, or the Pledged Collateral or any other collateral, or ; (b) any change in the time, manner or place of payment of, or in any other term of, all or any part of the Secured Obligations, or any other amendment, impairment, renunciation, cancellation, surrender, suspension amendment or waiver of or any consent to any departure from the Note Preferred Certificate, the 2003-1 Trust Agreement, the Fee Letter, this Pledge Agreement or any other agreement or instrument governing or evidencing any Obligations; (c) any exchange, release or non-perfection of any Collateral, or any action, or the absence of any action, by Secured Party in respect thereof (including, without limitation, the release or amendment or waiver of or consent to departure from any guaranty, for all or any of the Obligations); (d) the insolvency of Grantor; (e) the absence of any action to enforce this Pledge Agreement or the waiver or consent by Secured Party with respect to any of the provisions hereof; (f) any extension or waiver for the performance of, or compliance with, any term, covenant or agreement on its part to be performed or observed under the Preferred Certificate, the 2003-1 Trust Agreement, the Fee Letter or any other agreement or instrument governing or evidencing any of the Secured Obligations; (b) Any insolvency, bankruptcy, reorganization, arrangement, adjustment, composition or assignment for the benefit of creditors of Secured Party or Pledgor, appointment of a receiver or trustee for all or any part of Secured Party's or Pledgor's assets or liquidation, winding up or dissolution of the Pledgor; (c) Any invalidity, voidability, unenforceability or irregularity, or future change to or amendment of, in whole or in part, the Secured Obligations, the Letter Agreement, this Agreement or any other agreements, documents or instruments evidencing any Secured Obligations; (d) Any merger, acquisition, consolidation or change in structure of Pledgor, or any salewaiver of such performance or compliance or consent to a failure of, leaseor departure from, transfer or other disposition such performance of compliance, for any or all obligor under any of the assets of Pledgor; (e) Any assignment, endorsement or other transfer, in whole or in part, of Secured Party's interest in the Secured Obligations, the Pledged Collateral or any other collateral; (f) Any claim, defense, counterclaim or set-off, other than that of prior performance, that Pledgor may have or assert, including, but not limited to, any defense of incapacity, disability or lack of corporate or other authority to execute any documents relating to the Secured Obligations, the Pledged Collateral or any other collateralforegoing; (g) release anyone who may be liable in any manner for the payment of any amounts owed by Grantor to Secured Party's vote, claim, distribution, election, acceptance, action or inaction in any bankruptcy or reorganization case related to the Pledged Collateral or the Secured Obligations; or; (h) Any cancellation, renunciation or surrender of any pledge or any other debt instrument evidencing the Secured Obligationscircumstance which might otherwise constitute a legal or equitable discharge or defense available to, or a discharge of a surety or guarantor.

Lien Absolute. (a) All rights Grantor acknowledges that this Security Instrument and a number of Secured Party hereunderother Loan Documents and those documents required by the Loan Documents together secure the Indebtedness. Grantor agrees that, to the extent permitted by law, the lien of this Security Instrument and all obligations of Pledgor hereunder, Grantor hereunder shall be absolute and unconditional and shall remain not in full force and effect without regard to, and shall not any manner be affected or impaired by: (a) any lack of validity or affected by, or deemed to be satisfied by, nor shall Pledgor enforceability of the Loan Agreement or any Pledged Collateral be exoneratedother Loan Document, discharged or released by, any agreement with respect to any of the following events: Secured Party's exercise Indebtedness or enforcement of or failure or delay in exercising or enforcing any legal proceedings to collect the Secured Obligations or any powerother agreement or instrument relating to any of the foregoing; (b) any acceptance by Lender of any security for or guarantees of any of the Indebtedness; (c) any failure, right neglect or remedy with respect omission on the part of Lender to realize upon or protect any of the Secured Obligations, the Pledged Collateral Indebtedness or any other of the collateral held by Secured Partysecurity therefor, including the Loan Documents, or due to any action other circumstance which might otherwise constitute a defense available to, or inaction a discharge of, Grantor in respect of Secured Party to perfect, protect or enforce any security interest in the Pledged Collateral Indebtedness and Obligations hereby secured or any collateral security therefor, including the Loan Documents, or due to any other collateralcircumstance which might otherwise constitute a defense available to, any impairment or suspension a discharge of, Grantor in respect of the Pledged Collateral Indebtedness or any Obligations or this Security Instrument (other collateral, Secured Party's compromise, exchange, release, settlement, amendment or waiver with or than the indefeasible payment in full in cash of any other Person, or all the Pledged Collateral or any other collateral, or Indebtedness and Obligations hereby secured); (d) any change in the time, manner or place of payment of, or in any other term of, all or any part of the Secured Obligations, Indebtedness or any other amendment, impairment, renunciation, cancellation, surrender, suspension or waiver of the Note or any other agreement or instrument governing or evidencing any of the Secured Obligations; (be) Any insolvencyany release (except as to the property released), bankruptcysale, reorganizationpledge, arrangementsurrender, adjustmentcompromise, composition settlement, nonperfection, renewal, extension, indulgence, alteration, exchange, modification or assignment for the benefit disposition of creditors of Secured Party or Pledgor, appointment of a receiver or trustee for all or any part of Secured Party's or Pledgor's assets or liquidation, winding up or dissolution of the PledgorIndebtedness or Obligations hereby secured or of any of the collateral security therefor; (cf) Any invalidity, voidability, unenforceability any amendment or irregularity, waiver of or future change any consent to or amendment of, in whole or in part, any departure from the Secured Obligations, the Letter Agreement, this Loan Agreement or any other agreementsLoan Documents or of any guaranty thereof, documents or instruments evidencing if any, and Lender may in its discretion foreclose, exercise any Secured Obligations; (d) Any merger, acquisition, consolidation or change in structure power of Pledgorsale, or exercise any sale, lease, transfer or other disposition of remedy available to it under any or all of the assets Loan Documents without first exercising or enforcing any of Pledgor; (e) Any assignment, endorsement or other transfer, in whole or in part, of Secured Party's interest in the Secured Obligations, the Pledged Collateral or any other collateral; (f) Any claim, defense, counterclaim or set-off, other than that of prior performance, that Pledgor may have or assert, including, but not limited to, any defense of incapacity, disability or lack of corporate or other authority to execute any documents relating to the Secured Obligations, the Pledged Collateral or any other collateral;its rights and remedies hereunder; and (g) Secured Party's vote, claim, distribution, election, acceptance, action any exercise of the rights or inaction in remedies of Lender hereunder or under any bankruptcy or reorganization case related to all of the Pledged Collateral or the Secured Obligations; or (h) Any cancellation, renunciation or surrender of any pledge or any other debt instrument evidencing the Secured ObligationsLoan Documents.