Common use of Status of Liens Clause in Contracts

Status of Liens. The fact that any collateral, security, --------------- security interest or lien contemplated or intended to be given, created or granted as security for the repayment of the Liabilities shall not be properly perfected or created, or shall prove to be unenforceable or subordinate to any other security interest or lien, it being recognized and agreed by Guarantor that Guarantor is not entering into this Guaranty Agreement in reliance on, or in contemplation of the benefits of, the validity, enforceability, collectibility or value of any of the collateral for the Liabilities. Notwithstanding the foregoing, Guarantor does not hereby waive or release (expressly or impliedly) any right to be subrogated to the rights of the Bank in any collateral or security for the Liabilities, after payment in full of the Liabilities; Guarantor's rights of subrogation are, however, subordinate to the rights, claims, liens and security interests of the Bank;

Status of Liens. The fact that any collateral, security, --------------- security interest interest, or lien contemplated or intended to be given, created created, or granted as security for the repayment of the Liabilities Guaranteed Debt shall not be properly perfected or created, or shall prove to be unenforceable or subordinate to any other security interest or lien, it being recognized and agreed by Guarantor that Guarantor is not entering into this Guaranty Agreement in reliance on, or in contemplation of the benefits of, the validity, enforceability, collectibility collectibility, or value of any of the collateral for the Liabilities. Notwithstanding Guaranteed Debt; notwithstanding the foregoing, Guarantor does not hereby waive or release (expressly or impliedly) any right to be subrogated to the rights of the Bank Loan Parties in any collateral or security for the Liabilities, Guaranteed Debt after payment in full of the LiabilitiesGuaranteed Debt; Guarantor's rights of subrogation are, however, subordinate to the rights, claims, liens and security interests of the BankLoan Parties;

Status of Liens. The fact that any collateral, security, --------------- security interest interest, or lien contemplated or intended to be given, created created, or granted as security for the repayment of the Liabilities Guaranteed Debt shall not be properly perfected or created, or shall prove to be unenforceable or subordinate to any other security interest or lien, it being recognized and agreed by each Guarantor that such Guarantor is not entering into this Guaranty Agreement agreement in reliance on, or in contemplation of the benefits of, the validity, enforceability, collectibility collectibility, or value of any of the collateral for the Liabilities. Notwithstanding Guaranteed Debt; notwithstanding the foregoing, Guarantor does Guarantors do not hereby waive or release (expressly or impliedly) any right to be subrogated to the rights of the Bank Loan Parties in any collateral or security for the Liabilities, Guaranteed Debt after payment in full of the LiabilitiesGuaranteed Debt; Guarantor's rights of subrogation are, however, subordinate to the rights, claims, liens and security interests of the BankLoan Parties;

Status of Liens. The fact that any collateral, security, --------------- security interest or lien contemplated or intended to be given, created or granted as security for the repayment of the Liabilities Guaranteed Debt shall not be properly perfected or created, or shall prove to be unenforceable or subordinate to any other security interest or lien, it being recognized and agreed by Guarantor Guarantors that Guarantor is Guarantors are not entering into this Guaranty Agreement in reliance on, or in contemplation of the benefits of, the validity, enforceability, collectibility or value of any of the collateral (if any) for the Liabilities. Notwithstanding Guaranteed Debt; notwithstanding the foregoing, Guarantor does Guarantors do not hereby waive or release (expressly or impliedly) any right to be subrogated to the rights of the Bank Lender in any collateral or security for the Liabilities, Guaranteed Debt after payment in full of the LiabilitiesGuaranteed Debt; Guarantor's Guarantors' rights of subrogation are, however, subordinate to the rights, claims, liens and security interests of the BankLender;

Status of Liens. The fact that any collateral, security, --------------- security interest or lien contemplated or intended to be given, created or granted as security for the repayment of the Liabilities Guaranteed Obligation shall not be properly perfected or created, or shall prove to be unenforceable or subordinate to any other security interest or lien, it being recognized and agreed by Guarantor that Guarantor is not entering into this Guaranty Agreement in reliance on, or in contemplation of the benefits of, the validity, enforceability, collectibility or value of any of the collateral for the Liabilities. Notwithstanding Guaranteed Obligation; notwithstanding the foregoing, Guarantor does not hereby waive or release (expressly or impliedly) any right to be subrogated to the rights of the Bank Lender in any collateral or security for the Liabilities, Guaranteed Obligation after payment in full of the LiabilitiesGuaranteed Obligation; Guarantor's rights of subrogation are, however, subordinate to the rights, claims, liens and security interests of Lender until such time as the BankGuaranteed Obligation is paid in full;

Status of Liens. The fact that any collateral, security, --------------- security interest or lien contemplated or intended to be given, created or granted as security for the repayment of the Liabilities Guaranteed Debt shall not be properly perfected or created, or shall prove to be unenforceable or subordinate to any other security interest or lien, it being recognized and agreed by Guarantor that Guarantor is not entering into this Guaranty Agreement in reliance on, or in contemplation of the benefits of, the validity, enforceability, collectibility or value of any of the collateral for the Liabilities. Notwithstanding Guaranteed Debt; notwithstanding the foregoing, Guarantor does not hereby waive or release (expressly or impliedly) any right to be subrogated to the rights of the Bank Lender in any collateral or security for the Liabilities, Guaranteed Debt after payment in full of the LiabilitiesGuaranteed Debt; Guarantor's rights of subrogation are, however, subordinate to the rights, claims, liens and security interests of the BankLender;