Common use of Waivers by Borrowers Clause in Contracts

Waivers by Borrowers. Except as otherwise provided for in this Agreement, the other Loan Documents or applicable law, each Borrower waives (i) presentment, demand and protest and notice of presentment, dishonor, notice of intent to accelerate, notice of acceleration, protest, default, nonpayment, maturity, release, compromise, settlement, extension or renewal of any or all commercial paper, accounts, contract rights, documents, instruments, chattel paper and guaranties at any time held by Lender on which such Borrower may in any way be liable and hereby ratifies and confirms whatever Lender may do in this regard, (ii) all rights to notice and a hearing prior to Lender's taking possession or control of, or to Lender's replevy, attachment or levy upon, the Collateral, or any bond or security which might be required by any court prior to allowing Lender to exercise any of its remedies, and (iii) the benefit of all valuation, appraisal and exemption laws. Each Borrower acknowledges that it has been advised by counsel of its choice with respect to the effect of the foregoing waivers and this Agreement, the other Loan Documents and the transactions evidenced by this Agreement and the other Loan Documents, generally.

Appears in 1 contract

Sources: Revolving Credit Agreement (50 Off Stores Inc)

Waivers by Borrowers. Except as otherwise provided for in this Agreement, the other Loan Documents Agreement or by applicable law, each Borrower waives of the Borrowers, jointly and severally, waive: (ia) presentment, demand and protest and notice of presentment, dishonor, notice of intent to accelerate, notice of acceleration, protest, default, nonpayment, maturity, release, compromise, settlement, extension or renewal of any or all commercial paper, accounts, contract rights, documents, instruments, chattel paper and guaranties at any time held by Lender on which such any Borrower may in any way be liable liable, and hereby ratifies and confirms whatever Lender may do in this regard, (iib) all rights to notice and a hearing prior to Lender's taking possession or control of, or to Lender's replevy, attachment or levy upon, the Collateral, Collateral or any bond or security which might be required by any court prior to allowing Lender to exercise any of its remedies, and (iiic) the benefit of all valuation, appraisal and exemption laws. Each Borrower of the Borrowers acknowledges that it has been advised by counsel of its choice with respect to the effect of the foregoing waivers and this Agreement, the other Loan Documents and the transactions evidenced by this Agreement and the other Loan Documents, generally.

Appears in 1 contract

Sources: Credit Agreement (Akorn Inc)

Waivers by Borrowers. Except as otherwise provided for in this Agreement, the other Loan Documents or applicable law, each Borrower waives (i) presentment, demand and protest and protest, notice of protest, notice of presentment, dishonor, notice of intent to accelerate, notice of acceleration, protest, default, nonpaymentnon-payment, maturity, release, compromise, settlement, extension or renewal of any or all commercial paper, accounts, contract rights, documents, instruments, chattel paper and guaranties at any time held by Lender on which such either Borrower may in any way be liable and hereby ratifies and confirms whatever Lender may do in this regard, ; (ii) all rights to notice and a hearing prior to Lender's taking possession or control of, or to Lender's replevy, attachment or levy upon, the Collateral, Collateral or any bond or security which might be required by any court prior to allowing Lender to exercise any of its Lender's remedies, ; and (iii) the benefit of all valuation, appraisal appraisement, extension and exemption laws. Each Borrower acknowledges that it has been advised by counsel of its choice with respect to the effect of the foregoing waivers and this Agreement, the other Loan Documents Agreement and the transactions evidenced by this Agreement and the other Loan Documents, generallyAgreement.

Appears in 1 contract

Sources: Loan and Security Agreement (Vita Food Products Inc)

Waivers by Borrowers. Except as otherwise provided for in this Agreement, the other Loan Documents or -------------------- Credit Agreement and applicable law, each Borrower waives upon the occurrence of an Event of Default, Borrowers waive (i) presentment, demand and protest and notice of presentment, dishonor, notice of intent to accelerate, notice of acceleration, protest, default, nonpayment, maturity, release, compromise, settlement, extension or renewal of any or all commercial paper, accounts, contract rights, documents, instruments, chattel paper and guaranties at any time held by the Agent or any Lender on which such either Borrower may in any way be liable and hereby ratifies and confirms whatever the Agent or such Lender may do in this regard, (ii) all rights to notice and a hearing prior to the Agent or such Lender's taking possession or control of, or to the Agent or such Lender's replevy, attachment or levy upon, the Collateral, Collateral or any bond or security which might be required by any court prior to allowing Lender to exercise any of its remedies, and (iii) the benefit of all valuation, appraisal and exemption laws. Each Borrower acknowledges Borrowers acknowledge that it has been advised by counsel of its choice with respect to the effect of the foregoing waivers and this Credit Agreement, the other Loan Documents and the transactions evidenced by this Credit Agreement and the other Loan Documents, generally.

Appears in 1 contract

Sources: Credit Agreement (Thermatrix Inc)

Waivers by Borrowers. Except as otherwise provided for in this Agreement, the other Loan Documents Agreement or by applicable law, each Borrower waives of the Borrowers, jointly and severally, waive: (i) presentment, demand and protest and notice of presentment, dishonor, notice of intent to accelerate, notice of acceleration, protest, default, nonpayment, maturity, release, compromise, settlement, extension or renewal of any or all commercial paper, accounts, contract rights, documents, instruments, chattel paper and guaranties at any time held by Lender on which such any Borrower may in any way be liable liable, and hereby ratifies and confirms whatever Lender may do in this regard, (ii) all rights to notice and a hearing prior to Lender's taking possession or control of, or to Lender's replevy, attachment or levy upon, the Collateral, Collateral or any bond or security which might be required by any court prior to allowing Lender to exercise any of its remedies, and (iii) the benefit of all valuation, appraisal and exemption laws. Each Borrower of the Borrowers acknowledges that it has been advised by counsel of its choice with respect to the effect of the foregoing waivers and this Agreement, the other Loan Documents and the transactions evidenced by this Agreement and the other Loan Documents, generally.

Appears in 1 contract

Sources: Credit Agreement (Akorn Inc)