Common use of SURETY PROVISIONS Clause in Contracts

SURETY PROVISIONS. Debtor hereby: (a) waives (i) presentment, demand, notice of nonpayment, protest and notice of protest on the Secured Obligations; and (ii) notice of the creation or incurrence of the Secured Obligations; (b) agrees that Secured Party may from time to time, without notice to Debtor, which notice is hereby waived by Debtor, extend, renew or compromise the Secured Obligations, in whole or in part, without releasing, extinguishing or affecting in any manner whatsoever the security interest granted hereunder, the foregoing acts being hereby consented to by Debtor; (c) agrees that Secured Party shall not be required to first resort for payment to any other person, entity or corporation, their properties or estates, or any other right or remedy whatsoever, prior to enforcing this Security Agreement; (d) agrees that this Security Agreement shall be construed as a continuing, absolute and unconditional agreement without regard to (i) the validity, regularity or enforceability of the Secured Obligations, or the disaffirmance thereof in any insolvency or bankruptcy proceeding relating to the Debtor, or (ii) any event or any conduct or action of the Secured Party or any other party, which might otherwise constitute a legal or equitable discharge of a surety or of the security interest granted hereunder but for this provision; (e) agrees that this Security Agreement shall remain in full force and effect and be binding upon Debtor until the credit expires and the Secured Obligations are paid in full; (f) agrees that Secured Party is expressly authorized to renew, extend, compromise, exchange, release or surrender any or all collateral and security pledged by the Debtor or any other party to Secured Party to secure all or any part of the Secured Obligations, with or without consideration and without notice to Debtor and without in any manner affecting the security interest granted hereunder; and that the security interest granted hereunder shall not be affected or impaired by any failure, neglect or omission on the part of Secured Party to realize upon the Secured Obligations, or upon any collateral or security therefor, not by the taking by Secured Party of any other security agreement or guaranty to secure the Secured Obligations of any other indebtedness of the Debtor to Secured Party, nor by any act or failure to act whatsoever which but for this provision might or could in law or in equity act to release the security interest granted hereunder; (g) agrees that the security interest granted hereunder shall not be affected or impaired by the existence or creation from time to time, with or without notice to Debtor, which notice is hereby waived, of indebtedness from the Debtor to Secured Party in addition to the Secured Obligations, the creation or existence of such additional indebtedness being hereby consented to by Debtor; (h) agrees that the possession of this security interest by Secured Party shall be conclusive evidence of due execution and delivery hereof by Debtor; (i) agrees that Debtor may be joined in any action or proceeding commenced in connection with or based upon the Secured Obligations and this Security Agreement may be enforced in any such action or proceeding or in any independent action or proceeding against Debtor should the Debtor fail to duly and punctually pay any of the principal of or interest on the Secured Obligations, without any requirement that Secured Party first assert, prosecute or exhaust any remedy or claim against any other party; (j) agrees that no waiver by Secured Party of any Event of Default shall be a waiver of any other Event of Default or of the same Event of Default on a later occasion; no delay or failure by Secured Party to exercise any right or remedy hereunder or under applicable law shall be a waiver of such right or remedy; and no single or partial exercise by Secured Party of any such right or remedy shall preclude other or further exercise thereof or the exercise of any other right or remedy at any other time; and (k) agrees that each remedy of the Secured Party hereunder is distinct and cumulative to every other right or remedy under this Security Agreement, the documents related hereto, or afforded by law, and may be exercised concurrently or independently.

SURETY PROVISIONS. Debtor Mortgagor hereby: (a1) waives (i) presentment, demand, notice of nonpayment, protest and notice of protest on the Indebtedness Secured ObligationsHereby; and (ii) notice of the creation or incurrence of the Indebtedness Secured ObligationsHereby; (b2) agrees that Secured Party Mortgagee may from time to time, without notice to DebtorMortgagor, which notice is hereby waived by DebtorMortgagor, extend, renew review or compromise the Indebtedness Secured ObligationsHereby, in whole or in part, without releasing, extinguishing or affecting in any manner whatsoever the mortgage or security interest granted hereunder, the foregoing acts being hereby consented to by DebtorMortgagor; (c3) agrees that Secured Party Mortgagee shall not be required to first resort for payment to any other person, entity or corporation, their properties or estates, or any other right or to remedy whatsoever, prior to enforcing this Security AgreementMortgage; (d4) agrees that this Security Agreement Mortgage shall be and be construed as a continuing, absolute and unconditional agreement of Mortgagor without regard to (i) the validity, regularity or enforceability of the Indebtedness Secured Obligations, Hereby or the disaffirmance thereof in any insolvency or or, bankruptcy proceeding relating to the Debtorany Borrower or guarantor, or (ii) any event or any conduct or action of the Secured Party Mortgagee or any other party, party which might otherwise constitute a legal or equitable discharge of a surety or of the mortgage or security interest granted hereunder but for this provision; (e5) agrees that this Security Agreement Mortgage shall remain in full force and effect and be binding upon Debtor Mortgagor until the credit expires and the Indebtedness Secured Obligations are Hereby is paid in full; (f6) agrees that Secured Party Mortgagee is expressly authorized to renew, extend, compromise, exchange, release or surrender surrender, any or all collateral and security pledged by the Debtor Mortgagor or any other party to Secured Party Mortgagee to secure all or any part of the Indebtedness Secured ObligationsHereby, with or without consideration and without notice to Debtor Mortgagor and without in any manner affecting the mortgage and security interest granted hereunder; and that the mortgage and security interest granted hereunder shall not be affected or impaired by any failure, neglect or omission on the part of Secured Party Mortgagee to realize upon the Indebtedness Secured ObligationsHereby, or upon any collateral or security therefor, not nor by the taking by Secured Party Mortgagee of any other security agreement or guaranty to secure the Indebtedness Secured Obligations of Hereby or any other indebtedness of the Debtor each Borrower to Secured PartyMortgagee, nor by any act or failure to act whatsoever which but for this provision might or could in law or in equity act to release the mortgage or security interest granted hereunder; (g7) agrees that the security interest granted hereunder shall not be affected or impaired by the existence or creation from time to time, with or without notice to Debtor, which notice is hereby waived, of indebtedness from the Debtor to Secured Party in addition to the Secured Obligations, the creation or existence of such additional indebtedness being hereby consented to by Debtor; (h) agrees that the possession of this security interest by Secured Party shall be conclusive evidence of due execution and delivery hereof by Debtor; (i) agrees that Debtor Mortgagor may be joined in any action or proceeding commenced in connection with or based upon the Indebtedness Secured Obligations Hereby and this Security Agreement Mortgage may be enforced in any such action or proceeding or in any independent action or proceeding against Debtor should each Borrower or any guarantor, shall the Debtor Mortgagor fail to duly and punctually pay any of the principal of or interest interest, late charges or prepayment premium, if any, on Indebtedness under the Secured ObligationsLoan Agreement, without any requirement that Secured Party Mortgagee first assert, prosecute or or, exhaust any remedy or claim against any other party; (j) 8) agrees that no waiver by Secured Party Mortgagee of any Event of Default right or remedy shall be a waiver of any other Event of Default right or remedy or of the same Event of Default right or remedy on a later occasion; ; (9) agrees that no delay or failure by Secured Party Mortgagee to exercise any right or remedy hereunder or under applicable law shall be a waiver of such right or remedy; and no single or partial exercise by Secured Party Mortgagee of any such right or remedy shall preclude other or further exercise thereof or the exercise of any other right or remedy at any other another time; and (k10) agrees that each remedy of the Secured Party Mortgagee hereunder is distinct and cumulative to every each other right or remedy under this Security Agreement, the documents any other document related hereto, or afforded by law, and may be exercised concurrently or independently.

SURETY PROVISIONS. Debtor The Mortgagor hereby: (a1) waives Waives (i) presentment, demand, notice of nonpayment, protest and notice of protest on the Indebtedness Secured ObligationsHereby; and (ii) notice of the creation or incurrence of the Indebtedness Secured ObligationsHereby; (b2) agrees that Secured Party the Mortgagee may from time to time, without notice to Debtorthe Mortgagor, which notice is hereby waived by Debtorthe Mortgagor, extend, renew review or compromise the Indebtedness Secured ObligationsHereby, in whole or in part, without releasing, extinguishing or affecting in any manner whatsoever the mortgage or security interest granted hereunder, the foregoing acts being hereby consented to by Debtorthe Mortgagor; (c3) agrees that Secured Party the Mortgagee shall not be required to first resort for payment to any other person, entity or corporation, their properties or estates, or any other right or to remedy whatsoever, prior to enforcing this Security AgreementMortgage; (d4) agrees that this Security Agreement Mortgage shall be and be construed as a continuing, absolute and unconditional agreement of the Mortgagor without regard to (i) the validity, regularity or enforceability of the Indebtedness Secured Obligations, Hereby or the disaffirmance thereof in any insolvency or bankruptcy proceeding relating to the DebtorMortgagor, or (ii) any event or any conduct or action of the Secured Party Mortgagee or any other party, party which might otherwise constitute a legal or equitable discharge of a surety or of the mortgage or security interest granted hereunder but for this provision; (e5) agrees that this Security Agreement Mortgage shall remain in full force and effect and be binding upon Debtor the Mortgagor until the credit expires and the Indebtedness Secured Obligations are Hereby is paid in full; (f6) agrees that Secured Party the Mortgagee is expressly authorized to renew, extend, compromise, exchange, release or surrender surrender, any or all collateral and security pledged by the Debtor Mortgagor or any other party to Secured Party the Mortgagee to secure all or any part of the Indebtedness Secured ObligationsHereby, with or without consideration and without notice to Debtor the Mortgagor and without in any manner affecting the mortgage and security interest granted hereunder; and that the mortgage and security interest granted hereunder shall not be affected or impaired by any failure, neglect or omission on the part party of Secured Party the Mortgagee to realize upon the Indebtedness Secured ObligationsHereby, or upon any collateral or security therefor, not nor by the taking by Secured Party the Mortgagee of any other security agreement or guaranty to secure the Indebtedness Secured Obligations of Hereby or any other indebtedness of the Debtor Mortgagor to Secured Partythe Mortgagee, nor by any act or failure to act whatsoever which but for this provision might or could in law or in equity act to release the mortgage or security interest granted hereunder; (g7) agrees that the security interest granted hereunder shall not be affected or impaired by the existence or creation from time to time, with or without notice to Debtor, which notice is hereby waived, of indebtedness from the Debtor to Secured Party in addition to the Secured Obligations, the creation or existence of such additional indebtedness being hereby consented to by Debtor; (h) agrees that the possession of this security interest by Secured Party shall be conclusive evidence of due execution and delivery hereof by Debtor; (i) agrees that Debtor Mortgagor may be joined in any action or proceeding commenced in connection with or based upon the Indebtedness Secured Obligations Hereby and this Security Agreement Mortgage may be enforced in any such action or proceeding or in any independent action or proceeding against Debtor should the Debtor Mortgagor shall the Mortgagor fail to duly and punctually pay any of the principal of or interest interest, late charges or prepayment premium, if any, on the Secured ObligationsNote, without any requirement that Secured Party the Mortgagee first assert, prosecute or exhaust any remedy or claim against any other party; (j) 8) agrees that no waiver by Secured Party the Mortgagee of any Event of Default right or remedy shall be a waiver of any other Event of Default right or remedy or of the same Event of Default right or remedy on a later occasion; ; (9) agrees that no delay or failure by Secured Party the Mortgagee to exercise any right or remedy hereunder or under applicable law shall be a waiver of such right or remedy; and no single or partial exercise by Secured Party the Mortgagee of any such right or remedy shall preclude other or further exercise thereof or the exercise of any other right or remedy at any other another time; and (k10) agrees that each remedy of the Secured Party Mortgagee hereunder is distinct and cumulative to every each other right or remedy under this Security Agreement, the documents any other document related hereto, or afforded by law, and may be exercised concurrently or independently.