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 §6.11 CONSTITUTE THE FULL RECOURSE OBLIGATIONS OF EACH OF THE BORROWERS
ENFORCEABLE AGAINST EACH SUCH BORROWER TO THE FULL EXTENT OF ITS PROPERTIES AND
ASSETS, IRRESPECTIVE OF THE VALIDITY, REGULARITY OR ENFORCEABILITY OF THIS
CREDIT AGREEMENT OR THE OTHER LOAN DOCUMENTS OR ANY OTHER CIRCUMSTANCE
WHATSOEVER AS TO ANY OTHER BORROWER.
(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 CREDIT AGREEMENT AND THE NOTES, 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 CREDIT AGREEMENT OR ANY OF
THE OTHER LOAN DOCUMENTS), OR OF ANY DEMAND FOR ANY PAYMENT UNDER THIS CREDIT
AGREEMENT, NOTICE OF ANY ACTION AT ANY TIME TAKEN OR OMITTED BY THE AGENT OR THE
LENDERS UNDER OR IN RESPECT OF ANY OF THE OBLIGATIONS HEREUNDER, ANY
45
REQUIREMENT OF DILIGENCE AND, GENERALLY, ALL DEMANDS, NOTICES AND OTHER
FORMALITIES OF EVERY KIND IN CONNECTION WITH THIS CREDIT 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 SURETYSHIP 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 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 CREDIT AGREEMENT AND THE OTHER LOAN
DOCUMENTS, ANY AND ALL OTHER INDULGENCES WHATSOEVER BY THE 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 IN PART, OF ANY BORROWER OR ANY OTHER ENTITY OR PERSON PRIMARILY OR
SECONDARILY LIABLE FOR ANY OBLIGATION.
SUCH BORROWER FURTHER AGREES THAT ITS
OBLIGATIONS SHALL NOT BE RELEASED