GUARANTOR SHALL HAVE NO
CLAIMS OF ANY KIND OR TYPE AGAINST TENANT AS A RESULT OF ANY PAYMENT MADE BY
GUARANTOR TO LANDLORD, ALL SUCH CLAIMS BEING SPECIFICALLY WAIVED, (XII) ANY
RIGHT TO ENFORCE ANY REMEDY WHICH LANDLORD NOW HAS OR MAY HEREAFTER HAVE AGAINST
TENANT AND ANY BENEFIT OF, AND THE RIGHT TO PARTICIPATE IN, ANY SECURITY NOW OR
HEREAFTER HELD BY LANDLORD, (XIII) ANY DEFENSE ARISING BY REASON OF ANY ACT OR
FAILURE TO ACT BY LANDLORD, ANY ELECTION OF REMEDIES MADE BY LANDLORD OR ANY
OTHER ELECTION AFFORDED TO LANDLORD PURSUANT TO APPLICABLE LAW, WHETHER OR NOT
PURSUANT TO A BANKRUPTCY, INSOLVENCY, LIQUIDATION, REORGANIZATION OR SIMILAR
PROCEEDING FILED BY OR AGAINST
TENANT, (XIV) NOTICE OF ANY OF THE CIRCUMSTANCES OR CONDITIONS SET FORTH IN
ITEMS (A) THROUGH (Q), INCLUSIVE, OF PARAGRAPH 4 ABOVE, AND (XV) THE REQUIREMENT
OF LANDLORD TO MITIGATE DAMAGES.
6.
EFFECT OF LANDLORD'S DELAY OR ACTION.
NO DELAY ON THE PART OF LANDLORD IN THE EXERCISE OF ANY RIGHT OR REMEDY SHALL
OPERATE AS A WAIVER THEREOF, AND NO SINGLE OR PARTIAL EXERCISE BY LANDLORD OF
ANY RIGHT OR REMEDY SHALL PRECLUDE OTHER OR FURTHER EXERCISE THEREOF OR THE
EXERCISE OF ANY OTHER RIGHT OR REMEDY.
NO ACTION OF LANDLORD PERMITTED
HEREUNDER SHALL IN ANY WAY AFFECT OR IMPAIR THE RIGHTS OF LANDLORD AND THE
OBLIGATION OF GUARANTOR UNDER THIS GUARANTY.
7.
ENFORCEMENT.
ALL OF THE REMEDIES SET
FORTH HEREIN OR PROVIDED BY THE LEASE OR LAW OR EQUITY SHALL BE EQUALLY
AVAILABLE TO LANDLORD, AND THE CHOICE BY LANDLORD OF ONE SUCH ALTERNATIVE OVER
ANOTHER SHALL NOT BE SUBJECT TO QUESTION OR CHALLENGE BY GUARANTOR, NOR SHALL
ANY SUCH CHOICE BE ASSERTED AS A DEFENSE, SETOFF, OR FAILURE TO MITIGATE DAMAGES
IN ANY ACTION, PROCEEDING, OR COUNTERACTION BY LANDLORD TO RECOVER OR SEEK ANY
OTHER REMEDY UNDER THIS GUARANTY, NOR SHALL SUCH CHOICE PRECLUDE LANDLORD FROM
SUBSEQUENTLY ELECTING TO EXERCISE A DIFFERENT REMEDY. THE OBLIGATIONS OF
GUARANTOR HEREUNDER ARE INDEPENDENT OF THE OBLIGATIONS OF TENANT AND, IN THE
EVENT OF A DEFAULT HEREUNDER, A SEPARATE ACTION OR ACTIONS MAY BE BROUGHT AND
PROSECUTED AGAINST GUARANTOR WHETHER OR NOT GUARANTOR IS THE ALTER EGO OF TENANT
AND WHETHER OR NOT TENANT IS JOINED THEREIN OR A SEPARATE ACTION OR ACTIONS ARE
BROUGHT AGAINST TENANT.
GUARANTOR AGREES THAT ONE OR MORE SUCCESSIVE ACTIONS
MAY BE BROUGHT AGAINST GUARANTOR, AS OFTEN AS LANDLORD DEEM ADVISABLE, UNTIL ALL
OF THE GUARANTEED OBLIGATIONS ARE PAID AND PERFORMED IN FULL.
8.
ENFORCEMENT COSTS.
IF:
(I) THIS
GUARANTY IS PLACED IN THE HANDS OF AN ATTORNEY FOR COLLECTION OR IS COLLECTED
THROUGH ANY LEGAL PROCEEDING; (II) AN ATTORNEY IS RETAINED TO REPRESENT LANDLORD
IN ANY BANKRUPTCY, REORGANIZATION, RECEIVERSHIP, OR OTHER PROCEEDINGS AFFECTING
CREDITORS' RIGHTS AND INVOLVING A CLAIM UNDER THIS GUARANTY OR THE LEASE; (III)
AN ATTORNEY IS RETAINED TO PROTECT OR ENFORCE THE LEASE OR TO PROVIDE ADVICE OR
OTHER REPRESENTATION WITH RESPECT TO THE PREMISES OR THE LEASE IN CONNECTION
WITH AN ENFORCEMENT ACTION OR POTENTIAL ENFORCEMENT