ADMINISTRATIVE
AGENT OR ANY LENDER, AND THE CREDIT AGREEMENT AND THE OTHER LOAN DOCUMENTS AND
ANY OTHER DOCUMENTS EXECUTED AND DELIVERED IN CONNECTION THEREWITH MAY BE
AMENDED, MODIFIED, SUPPLEMENTED OR TERMINATED, IN WHOLE OR IN PART, AS THE
ADMINISTRATIVE AGENT (OR THE REQUIRED LENDERS OR ALL THE LENDERS, AS THE CASE
MAY BE) MAY DEEM ADVISABLE FROM
5
time to time. Neither the Administrative Agent nor any Lender shall have any
obligation to protect, secure, perfect or insure any Lien at any time held by it
as security for the Obligations or for the guaranty contained in this Section 2
or any property subject thereto.
THE ADMINISTRATIVE AGENT OR ANY LENDER MAY, FROM TIME TO TIME, AT ITS SOLE
DISCRETION AND WITHOUT NOTICE TO ANY GRANTOR (OR ANY OF THEM), TAKE ANY OR ALL
OF THE FOLLOWING ACTIONS:
(A) RETAIN OR OBTAIN A SECURITY INTEREST IN ANY
PROPERTY TO SECURE ANY OF THE OBLIGATIONS OR ANY OBLIGATION HEREUNDER,
(B) RETAIN OR OBTAIN THE PRIMARY OR SECONDARY OBLIGATION OF ANY OBLIGOR OR
OBLIGORS, IN ADDITION TO THE UNDERSIGNED, WITH RESPECT TO ANY OF THE
OBLIGATIONS, (C) RELEASE OR COMPROMISE ANY OBLIGATION OF ANY OF THE UNDERSIGNED
HEREUNDER OR ANY OBLIGATION OF ANY NATURE OF ANY OTHER OBLIGOR WITH RESPECT TO
ANY OF THE OBLIGATIONS, (D) RELEASE ANY GUARANTY OR RIGHT OF OFFSET OR ITS
SECURITY INTEREST IN, OR SURRENDER, RELEASE OR PERMIT ANY SUBSTITUTION OR
EXCHANGE FOR, ALL OR ANY PART OF ANY PROPERTY SECURING ANY OF THE OBLIGATIONS OR
ANY OBLIGATION HEREUNDER, OR EXTEND OR RENEW FOR ONE OR MORE PERIODS (WHETHER OR
NOT LONGER THAN THE ORIGINAL PERIOD) OR RELEASE, COMPROMISE, ALTER OR EXCHANGE
ANY OBLIGATIONS OF ANY NATURE OF ANY OBLIGOR WITH RESPECT TO ANY SUCH PROPERTY,
AND (E) RESORT TO THE UNDERSIGNED (OR ANY OF THEM) FOR PAYMENT OF ANY OF THE
OBLIGATIONS WHEN DUE, WHETHER OR NOT THE ADMINISTRATIVE AGENT OR SUCH LENDER
SHALL HAVE RESORTED TO ANY PROPERTY SECURING ANY OF THE OBLIGATIONS OR ANY
OBLIGATION HEREUNDER OR SHALL HAVE PROCEEDED AGAINST ANY OTHER OF THE
UNDERSIGNED OR ANY OTHER OBLIGOR PRIMARILY OR SECONDARILY OBLIGATED WITH RESPECT
TO ANY OF THE OBLIGATIONS.
2.5
WAIVERS. THE OBLIGATIONS, AND ANY OF THEM, SHALL CONCLUSIVELY BE
DEEMED TO HAVE BEEN CREATED, CONTRACTED OR INCURRED, OR RENEWED, EXTENDED,
AMENDED OR WAIVED, IN RELIANCE UPON THE GUARANTY CONTAINED IN THIS SECTION 2,
AND ALL DEALINGS BETWEEN THE ANY OF THE GRANTORS, ON THE ONE HAND, AND THE
ADMINISTRATIVE AGENT AND THE LENDERS, ON THE OTHER HAND, LIKEWISE SHALL BE
CONCLUSIVELY PRESUMED TO HAVE BEEN HAD OR CONSUMMATED IN RELIANCE UPON THE
GUARANTY CONTAINED IN THIS SECTION 2. EACH GRANTOR WAIVES (A) DILIGENCE,
PRESENTMENT, PROTEST, DEMAND FOR PAYMENT AND NOTICE OF DEFAULT, DISHONOR OR
NONPAYMENT AND ALL OTHER NOTICES WHATSOEVER TO OR UPON ANY OF THE GRANTORS WITH
RESPECT TO THE OBLIGATIONS, (B) NOTICE OF THE EXISTENCE OR CREATION OR
NON-PAYMENT OF ALL OR ANY OF THE OBLIGATIONS AND (C) ALL DILIGENCE IN COLLECTION
OR PROTECTION OF OR REALIZATION UPON