Common use of Release of Collateral, Parties Liable, etc Clause in Contracts

Release of Collateral, Parties Liable, etc. Each of the Guarantors ------------------------------------------- agrees that the time or place of payment of the Borrowers' Obligations may be changed or extended, in whole or in part, to a time certain or otherwise, and may be renewed or accelerated, in whole or in part; that the Borrowers may be granted indulgences generally; that any provisions of the Credit Documents or any other documents executed in connection with this transaction may be modified, amended or waived; that any party liable for the payment of the Borrowers' Obligations may be granted indulgences or released; and that any deposit balance for the credit of the Borrowers or any other party liable for the payment of the Borrowers' Obligations may be released, in whole or in part, at, before and/or after the stated, extended or accelerated maturity of the Borrowers' Obligations, all without notice to or further assent by the Guarantors, or any of them, who shall remain bound thereon, notwithstanding any such extension, renewal, acceleration, modification, indulgence or release.