THIS SECTION 2.15), IT BEING THE INTENTION OF THE PARTIES HERETO THAT ALL THE
OBLIGATIONS SHALL BE THE JOINT AND SEVERAL OBLIGATIONS OF EACH OF THE BORROWERS
WITHOUT PREFERENCES OR DISTINCTION AMONG THEM.
(C)
IF AND TO THE EXTENT THAT ANY OF THE
BORROWERS SHALL FAIL TO MAKE ANY PAYMENT WITH RESPECT TO ANY OF THE OBLIGATIONS
AS AND WHEN DUE OR TO PERFORM ANY OF THE OBLIGATIONS IN ACCORDANCE WITH THE
TERMS THEREOF, THEN, IN EACH SUCH EVENT, THE OTHER BORROWERS WILL MAKE SUCH
PAYMENT WITH RESPECT TO, OR PERFORM, SUCH OBLIGATION.
(D)
THE OBLIGATIONS OF EACH OF THE BORROWERS
UNDER THE PROVISIONS OF THIS SECTION 2.15 CONSTITUTE THE FULL RECOURSE
OBLIGATIONS OF EACH OF THE BORROWERS ENFORCEABLE AGAINST EACH SUCH PERSON TO THE
FULL EXTENT OF ITS PROPERTIES AND ASSETS, IRRESPECTIVE OF THE VALIDITY,
REGULARITY OR ENFORCEABILITY OF THIS AGREEMENT OR THE OTHER LOAN DOCUMENTS OR
ANY OTHER CIRCUMSTANCE WHATSOEVER.
(E)
EXCEPT AS OTHERWISE EXPRESSLY PROVIDED
HEREIN, EACH BORROWER HEREBY WAIVES PROMPTNESS, DILIGENCE, PRESENTMENT, DEMAND,
PROTEST, NOTICE OF ACCEPTANCE OF ITS JOINT AND SEVERAL LIABILITY, NOTICE OF ANY
AND ALL ADVANCES OF THE LOANS MADE UNDER THIS AGREEMENT AND ANY PROMISSORY NOTE
ISSUED HEREUNDER, NOTICE OF OCCURRENCE OF ANY DEFAULT OR EVENT OF DEFAULT
(EXCEPT TO THE EXTENT NOTICE IS EXPRESSLY REQUIRED TO BE GIVEN PURSUANT TO THE
TERMS OF THIS AGREEMENT OR ANY OF THE OTHER LOAN DOCUMENTS), OR OF ANY DEMAND
FOR ANY PAYMENT UNDER THIS AGREEMENT, NOTICE OF ANY ACTION AT ANY TIME TAKEN OR
OMITTED BY THE ADMINISTRATIVE AGENT OR THE LENDERS UNDER OR IN RESPECT OF ANY OF
THE OBLIGATIONS HEREUNDER, ANY REQUIREMENT OF DILIGENCE AND, GENERALLY, ALL
DEMANDS, NOTICES AND OTHER FORMALITIES OF EVERY KIND IN CONNECTION WITH THIS
AGREEMENT AND THE OTHER LOAN DOCUMENTS.
EACH BORROWER HEREBY WAIVES ALL
DEFENSES WHICH MAY BE AVAILABLE BY VIRTUE OF ANY VALUATION, STAY, MORATORIUM LAW
OR OTHER SIMILAR LAW NOW OR HEREAFTER IN EFFECT, ANY RIGHT TO REQUIRE THE
MARSHALING OF ASSETS OF THE BORROWERS AND ANY OTHER ENTITY OR PERSON PRIMARILY
OR SECONDARILY LIABLE WITH RESPECT TO ANY OF THE OBLIGATIONS, AND ALL SURETY
SHIP DEFENSES GENERALLY.
EACH BORROWER HEREBY ASSENTS TO, AND WAIVES NOTICE OF,
ANY EXTENSION OR POSTPONEMENT OF THE TIME FOR THE PAYMENT, OR PLACE OR MANNER
FOR PAYMENT, COMPROMISE, REFINANCING, CONSOLIDATION OR RENEWALS OF ANY OF THE
OBLIGATIONS HEREUNDER, THE ACCEPTANCE OF ANY PARTIAL PAYMENT THEREON, ANY
WAIVER, CONSENT OR OTHER ACTION OR ACQUIESCENCE BY THE ADMINISTRATIVE AGENT AND
THE LENDERS AT ANY TIME OR TIMES IN RESPECT OF ANY DEFAULT BY ANY BORROWER IN
THE PERFORMANCE OR SATISFACTION OF ANY TERM, COVENANT, CONDITION OR PROVISION OF
THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS, ANY AND ALL OTHER INDULGENCES
WHATSOEVER BY THE ADMINISTRATIVE AGENT AND THE LENDERS IN RESPECT OF ANY OF THE
OBLIGATIONS HEREUNDER, AND THE TAKING, ADDITION, SUBSTITUTION OR RELEASE, IN
WHOLE OR IN PART, AT ANY TIME OR TIMES, OF ANY SECURITY FOR ANY OF SUCH
OBLIGATIONS OR THE ADDITION, SUBSTITUTION OR RELEASE, IN WHOLE OR