Common use of Protective Sections Clause in Contracts

Protective Sections. Without limiting Sections 4.1 and 24.1, none of the obligations or liabilities of the Mortgagor, the validity or enforceability of this Deed and the security hereby constituted or the rights of the Mortgagee under this Deed shall be discharged, impaired, prejudiced or in any way be affected by:- 24.2.1 the granting of any time, indulgence, concession, compromise, waiver or consent whatsoever at any time given to any Loan Party or any other Person; 24.2.2 any amendment, modification or variation of any Loan Document or any other agreement; 24.2.3 the illegality, invalidity or unenforceability of any obligation or liability of any Loan Party or any other Person; 24.2.4 the invalidity or irregularity in the execution of any Loan Document or any other agreement; 24.2.5 any lack of or deficiency in the powers of any Loan Party or any other Person to enter into or perform any of its obligations or liabilities under any Loan Document or any other agreement or any irregularity in the exercise thereof or any lack of or deficiency in authority by any Person purporting to act on behalf of any Loan Party or any other Person; 24.2.6 the insolvency, liquidation, incapacity, disability, limitation, change of constitution or status, death, or bankruptcy of any Loan Party or any other Person; 24.2.7 any other Loan Document, Lien, guarantee or other security or right or remedy being or becoming held by or available to the Mortgagee or by any of the same being or becoming wholly or partly void, voidable, unenforceable or impaired or by the Mortgagee at any time exercising or non-exercising, releasing, refraining from enforcing, varying or in any other way dealing with any of the same or any power, right, remedy or security the Mortgagee may now or hereafter have from or against any Loan Party or any other Person; 24.2.8 any release, waiver, exercise, omission to exercise or renewal of any rights against any Loan Party or any other Person or any compromise, arrangement or settlement with any of the same; 24.2.9 any taking, exchange, application, release, sale, disposition or non-perfection of any other Collateral; 24.2.10 any defence based on applicable statutes of limitations, or any existence or reliance on any representation by the Mortgagee, or any other circumstance that might otherwise constitute a defence available to, or a discharge of any Loan Party or any other Person; and/or 24.2.11 any act, omission, matter, circumstance or event which would or may but for the provisions of this Section 24.2 operate to impair, prejudice, discharge or otherwise affect this Deed or the obligations or liabilities of the Mortgagor hereunder.

Protective Sections. Without limiting Sections 4.1 5.1 and 24.1, none of the obligations or liabilities of the MortgagorChargor, the validity or enforceability of this Deed and the security hereby constituted or the rights of the Mortgagee Chargee under this Deed shall be discharged, impaired, prejudiced or in any way be affected by:- 24.2.1 the granting of any time, indulgence, concession, compromise, waiver or consent whatsoever at any time given to any Loan Party or any other Person; 24.2.2 any amendment, modification or variation of any Loan Document or any other agreement; 24.2.3 the illegality, invalidity or unenforceability of any obligation or liability of any Loan Party or any other Person; 24.2.4 the invalidity or irregularity in the execution of any Loan Document or any other agreement; 24.2.5 any lack of or deficiency in the powers of any Loan Party or any other Person to enter into or perform any of its obligations or liabilities under any Loan Document or any other agreement or any irregularity in the exercise thereof or any lack of or deficiency in authority by any Person purporting to act on behalf of any Loan Party or any other Person; 24.2.6 the insolvency, liquidation, incapacity, disability, limitation, change of constitution or status, death, or bankruptcy of any Loan Party or any other Person; 24.2.7 any other Loan Document, Lien, guarantee or other security or right or remedy being or becoming held by or available to the Mortgagee Chargee or by any of the same being or becoming wholly or partly void, voidable, unenforceable or impaired or by the Mortgagee Chargee at any time exercising or non-exercising, releasing, refraining from enforcing, varying or in any other way dealing with any of the same or any power, right, remedy or security the Mortgagee Chargee may now or hereafter have from or against any Loan Party or any other Person; 24.2.8 any release, waiver, exercise, omission to exercise or renewal of any rights against any Loan Party or any other Person or any compromise, arrangement or settlement with any of the same; 24.2.9 any taking, exchange, application, release, sale, disposition or non-perfection of any other Collateral; 24.2.10 any defence based on applicable statutes of limitations, or any existence or reliance on any representation by the MortgageeChargee, or any other circumstance that might otherwise constitute a defence available to, or a discharge of any Loan Party or any other Person; and/or 24.2.11 any act, omission, matter, circumstance or event which would or may but for the provisions of this Section 24.2 operate to impair, prejudice, discharge or otherwise affect this Deed or the obligations or liabilities of the Mortgagor Chargor hereunder.