DEEMED TO HAVE WAIVED
ANY OF ITS RIGHTS UPON OR UNDER THE OBLIGATIONS OR THE COLLATERAL UNLESS SUCH
WAIVER SHALL BE IN WRITING AND SIGNED BY LENDER. NO DELAY OR OMISSION ON THE
PART OF LENDER IN EXERCISING ANY RIGHT SHALL OPERATE AS A WAIVER OF SUCH RIGHT
OR ANY OTHER RIGHT. A WAIVER ON ANY ONE OCCASION WILL NOT BE CONSTRUED AS A BAR
TO OR WAIVER OF ANY RIGHT ON ANY FUTURE OCCASION. ALL RIGHTS AND REMEDIES OF
LENDER WITH RESPECT TO THE OBLIGATIONS OR THE COLLATERAL, WHETHER EVIDENCED
HEREBY OR BY ANY OTHER INSTRUMENT OR PAPERS, WILL BE CUMULATIVE AND MAY BE
EXERCISED SINGULARLY, ALTERNATIVELY, SUCCESSIVELY OR CONCURRENTLY AT SUCH TIME
OR AT SUCH TIMES AS LENDER DEEMS EXPEDIENT.
18.
SURETYSHIP WAIVERS BY BORROWER. BORROWER WAIVES DEMAND, NOTICE,
PROTEST, NOTICE OF ACCEPTANCE OF THIS AGREEMENT, NOTICE OF LOANS MADE, CREDIT
EXTENDED, COLLATERAL RECEIVED OR DELIVERED OR OTHER ACTION TAKEN IN RELIANCE
HEREON AND ALL OTHER DEMANDS AND NOTICES OF ANY DESCRIPTION. WITH RESPECT TO
BOTH THE OBLIGATIONS AND THE COLLATERAL, BORROWER ASSENTS TO ANY EXTENSION OR
POSTPONEMENT OF THE TIME OF PAYMENT OR ANY OTHER INDULGENCE, TO ANY
SUBSTITUTION, EXCHANGE OR RELEASE OF OR FAILURE TO PERFECT ANY SECURITY INTEREST
IN ANY COLLATERAL, TO THE ADDITION OR RELEASE OF ANY PARTY OR PERSON PRIMARILY
OR SECONDARILY LIABLE, TO THE ACCEPTANCE OF PARTIAL PAYMENT THEREON AND THE
SETTLEMENT, COMPROMISING OR ADJUSTING OF ANY THEREOF, ALL IN SUCH MANNER AND AT
SUCH TIME OR TIMES AS LENDER MAY DEEM ADVISABLE. LENDER WILL HAVE NO DUTY AS TO
THE COLLECTION OR PROTECTION OF THE COLLATERAL OR ANY INCOME THEREON, NOR AS TO
THE PRESERVATION OF
10
RIGHTS AGAINST PRIOR PARTIES, NOR AS TO THE PRESERVATION OF ANY RIGHTS
PERTAINING THERETO BEYOND THE SAFE CUSTODY THEREOF AS SET FORTH IN SECTION
11.02. BORROWER FURTHER WAIVES ANY AND ALL OTHER SURETYSHIP DEFENSES.
19.
MARSHALING. LENDER WILL NOT BE REQUIRED TO MARSHAL ANY PRESENT OR
FUTURE COLLATERAL SECURITY (INCLUDING BUT NOT LIMITED TO THIS AGREEMENT AND THE
COLLATERAL) FOR, OR OTHER ASSURANCES OF PAYMENT OF, THE OBLIGATIONS OR ANY OF
THEM OR TO RESORT TO SUCH COLLATERAL SECURITY OR OTHER ASSURANCES OF PAYMENT IN
ANY PARTICULAR ORDER, AND ALL OF ITS RIGHTS HEREUNDER AND IN RESPECT OF SUCH
COLLATERAL SECURITY AND OTHER ASSURANCES OF PAYMENT ARE CUMULATIVE AND IN
ADDITION TO ALL OTHER RIGHTS, HOWEVER EXISTING OR ARISING. TO THE EXTENT THAT IT
LAWFULLY MAY, BORROWER HEREBY AGREES THAT IT WILL NOT INVOKE ANY LAW RELATING TO
THE MARSHALLING OF COLLATERAL WHICH MIGHT CAUSE DELAY IN OR IMPEDE THE
ENFORCEMENT OF LENDER'S RIGHTS UNDER THIS AGREEMENT OR UNDER ANY OTHER
INSTRUMENT CREATING OR EVIDENCING ANY OF THE OBLIGATIONS OR UNDER WHICH ANY OF
THE OBLIGATIONS IS OUTSTANDING OR BY WHICH ANY OF THE OBLIGATIONS IS SECURED OR
PAYMENT THEREOF IS OTHERWISE ASSURED, AND, TO THE EXTENT THAT IT LAWFULLY MAY,
BORROWER HEREBY IRREVOCABLY WAIVES THE BENEFITS OF ALL SUCH LAWS.
20.
PROCEEDS OF DISPOSITIONS; EXPENSES. BORROWER WILL PAY TO LENDER ON
DEMAND