Examples of Carveout Obligor in a sentence
All payments with respect to the Indebtedness received by the Lender from the Borrower, or any party other than the Carveout Obligor may be applied by the Lender to the Indebtedness in such manner and order as the Lender desires, in its sole discretion, whether or not such application reduces the liability of the Carveout Obligor with respect to the Carveout Obligations.
No acceptance of performance of any Carveout Obligation as to which the Carveout Obligor shall be in Default, or waiver of particular or single performance of any obligation or observance of any covenant, shall be construed as a waiver of the obligation or covenant or as a waiver of any other Default then, theretofore or thereafter existing.
The Carveout Obligor waives all rights and exemptions under homestead and similar laws.
In connection with the waiver set forth in clause (a), the Carveout Obligor expressly waives (i) any and all rights to subrogation to the Lender against the Borrower and (ii) any rights to enforce any remedy which the Lender may have against the Borrower and any right of participate in any collateral for the Loan.
The Carveout Obligor shall, however, certify that such statements are true and correct, and the Lender expressly reserves the right to require such a certification by an independent certified public accountant if in the exercise of its reasonable discretion it has reason to believe that any previously provided financial or operating statement is misleading in any material respect.
The Carveout Obligor shall be fully and personally liable for the Carveout Obligations, and the Lender shall be entitled to maintain an independent action against the Carveout Obligor regardless of whether Lender has commenced or completed any action against the Borrower or the Property.
No liability of the Carveout Obligor under this Agreement shall be released, diminished, impaired, reduced or otherwise affected by any existing or future offset, claim, or defense of the Carveout Obligor against the Lender.
This Agreement contains the entire agreement of the Carveout Obligor relating to the subject matter hereof, and all prior guaranties relative hereto which are not contained herein are hereby terminated.
In this regard, the Carveout Obligor hereby acknowledges that the guarantee set forth in this Agreement may not be revoked as to any present or future advances to or existing or additional liability incurred by the Borrower under the terms of the Loan Documents.
The Carveout Obligor waives any right to cause a marshalling of the Borrower’s assets.