Common use of Waiver and Estoppel Clause in Contracts

Waiver and Estoppel. (1) The Borrower, to the extent it may lawfully do so, agrees that it will not at any time in any manner whatsoever claim or take the benefit or advantage of any appraisement, valuation, stay, extension, moratorium, turnover or redemption law, or any law now or hereafter in force permitting it to direct the order in which the Collateral shall be sold which may delay, prevent or otherwise affect the performance or enforcement of this Agreement and the Borrower hereby waives the benefits or advantage of all such laws, and covenants that it will not hinder, delay or impede the execution of any power granted to the Bank in this Agreement but will permit the execution of every such power as though no such law were in force; provided that nothing contained in this subsection (H) shall be construed as a waiver of any rights of the Borrower under any applicable federal bankruptcy law.

Appears in 5 contracts

Samples: Loan and Security Agreement (Widepoint Corp), Loan and Security Agreement (Versar Inc), Loan and Security Agreement (Versar Inc)

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Waiver and Estoppel. (1a) The BorrowerLessee, to the extent it may lawfully do so, agrees that it will not at any time in any manner whatsoever claim or take the benefit or advantage of any appraisement, valuation, stay, extension, moratorium, turnover or redemption law, or any law now or hereafter in force permitting it to direct the order in which the Collateral shall be sold which may delay, prevent or otherwise affect the performance or enforcement of this Security Agreement and the Borrower Lessee hereby waives the benefits or advantage of all such laws, and covenants that it will not hinder, delay or impede the execution of any power granted to the Bank Lender in this Security Agreement but will permit the execution of every such power as though no such law were in force; provided that nothing contained in this subsection (H) Section 5.8 shall be construed as a waiver of any rights of the Borrower Lessee under any applicable federal bankruptcy law.

Appears in 2 contracts

Samples: Security Agreement (Apple Hospitality Two Inc), Security Agreement (Apple Hospitality Two Inc)

Waiver and Estoppel. (1a) The BorrowerBuyer, to the extent it may lawfully do so, agrees that it will not at any time in any manner whatsoever claim or take the benefit or advantage of any appraisement, valuation, stay, extension, moratorium, turnover or redemption law, or any law now or hereafter in force permitting it to direct the order in which the Collateral shall be sold which may delay, prevent or otherwise affect the performance or enforcement of this Security Agreement and the Borrower Buyer hereby waives the benefits or advantage of all such laws, and covenants that it will not hinder, delay or impede the execution of any power granted to the Bank Seller in this Security Agreement but will permit the execution of every such power as though no such law were in force; provided that nothing contained in this subsection (H) Section 5.8 shall be construed as a waiver of any rights of the Borrower Buyer under any applicable federal bankruptcy law.

Appears in 2 contracts

Samples: Security Agreement (Doughties Foods Inc), Asset Purchase Agreement (Natural Gas Services Group Inc)

Waiver and Estoppel. (1a) The BorrowerDebtor, to the extent it may lawfully do so, agrees that it will not at any time in any manner whatsoever claim or take the benefit or advantage of any appraisement, valuation, stay, extension, moratorium, turnover or redemption law, or any law now or hereafter in force permitting it to direct the order in which the Collateral shall be sold which may delay, prevent or otherwise affect the performance or enforcement of this Security Agreement and the Borrower Debtor hereby waives the benefits or advantage of all such laws, and covenants that it will not hinder, delay or impede the execution of any power granted to the Bank in this Security Agreement but will permit the execution of every such power as though no such law were in force; provided that nothing contained in this subsection (H) Section 5.8 shall be construed as a waiver of any rights of the Borrower Debtor under any applicable federal bankruptcy law.

Appears in 1 contract

Samples: Security Agreement (Microstrategy Inc)

Waiver and Estoppel. (1a) The BorrowerClient, to the extent it may lawfully do so, agrees that it will not at any time in any manner whatsoever claim or take the benefit or advantage of any appraisement, valuation, stay, extension, moratorium, turnover or redemption law, or any law now or hereafter in force permitting it to direct the order in which the Collateral shall be sold which may delay, prevent or otherwise affect the performance or enforcement of this Security Agreement and the Borrower Client hereby waives the benefits or advantage of all such laws, and covenants that it will not hinder, delay or impede the execution of any power granted to the Bank Provider in this Security Agreement but will permit the execution of every such power as though no such law were in force; provided that nothing contained in this subsection (H) Section 5.8 shall be construed as a waiver of any rights of the Borrower Client under any applicable federal bankruptcy law.

Appears in 1 contract

Samples: Security Agreement (Summer Energy Holdings Inc)

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Waiver and Estoppel. (1a) The Borrower, to the extent it may lawfully do so, agrees that it will not at any time in any manner whatsoever claim or take the benefit or advantage of any appraisement, valuation, stay, extension, moratorium, turnover or redemption law, or any law now or hereafter in force permitting it to direct the order in which the Collateral shall be sold which may delay, prevent or otherwise affect the performance or enforcement of this Security Agreement and the Borrower hereby waives the benefits or advantage of all such laws, and covenants that it will not hinder, delay or impede the execution of any power granted to the Bank Lender in this Security Agreement but will permit the execution of every such power as though no such law were in force; provided that nothing contained in this subsection (H) shall be construed as a waiver of any rights of the Borrower under any applicable federal bankruptcy law.in

Appears in 1 contract

Samples: Second Security Agreement (Janus American Group Inc)

Waiver and Estoppel. (1a) The Borrower, to the extent it may lawfully do so, agrees that it will not at any time in any manner whatsoever claim or take the benefit or advantage of any appraisement, valuation, stay, extension, moratorium, turnover or redemption law, or any law now or hereafter in force permitting it to direct the order in which the Collateral shall be sold which may delay, prevent or otherwise affect the performance or enforcement of this Security Agreement and the Borrower hereby waives the benefits or advantage of all such laws, and covenants that it will not hinder, delay or impede the execution of any power granted to the Bank Lender in this Security Agreement but will permit the execution of every such power as though no such law were in force; provided that nothing contained in this subsection (H) Section 5.8 shall be construed as a waiver of any rights of the Borrower under any applicable federal bankruptcy law.

Appears in 1 contract

Samples: Security Agreement (Janus American Group Inc)

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