Telecom, Inc.
Loan No. RX0583
ARTICLE VIII
MISCELLANEOUS
8.1
INDEMNITY AND EXPENSES.
THE GRANTORS SHALL INDEMNIFY THE
INDEMNITEES AND PAY EXPENSES IN ACCORDANCE WITH SECTIONS 16 AND 17 OF THE LOAN
AGREEMENT.
8.2
NO WAIVER. THE RIGHTS AND REMEDIES OF COBANK EXPRESSLY SET
FORTH IN THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS ARE CUMULATIVE AND IN
ADDITION TO, AND NOT EXCLUSIVE OF, ALL OTHER RIGHTS AND REMEDIES AVAILABLE AT
LAW, IN EQUITY OR OTHERWISE.
NO FAILURE OR DELAY ON THE PART OF COBANK IN
EXERCISING ANY RIGHT, POWER OR PRIVILEGE SHALL OPERATE AS A WAIVER THEREOF, NOR
SHALL ANY SINGLE OR PARTIAL EXERCISE OF ANY SUCH RIGHT, POWER OR PRIVILEGE
PRECLUDE ANY OTHER OR FURTHER EXERCISE THEREOF OR THE EXERCISE OF ANY OTHER
RIGHT, POWER OR PRIVILEGE OR BE CONSTRUED TO BE A WAIVER OF ANY DEFAULT OR EVENT
OF DEFAULT.
NO COURSE OF DEALING BETWEEN THE GRANTORS AND COBANK OR THEIR
AGENTS OR EMPLOYEES SHALL BE EFFECTIVE TO AMEND, MODIFY OR DISCHARGE ANY
PROVISION OF THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR TO CONSTITUTE A WAIVER
OF ANY DEFAULT OR EVENT OF DEFAULT. NO NOTICE TO OR DEMAND UPON ANY GRANTOR IN
ANY CASE SHALL ENTITLE SUCH GRANTOR OR ANY OTHER GRANTOR TO ANY OTHER OR FURTHER
NOTICE OR DEMAND IN SIMILAR OR OTHER CIRCUMSTANCES OR CONSTITUTE A WAIVER OF THE
RIGHT OF COBANK TO EXERCISE ANY RIGHT OR REMEDY OR TAKE ANY OTHER OR FURTHER
ACTION IN ANY CIRCUMSTANCES WITHOUT NOTICE OR DEMAND.
8.3
GRANTORS' OBLIGATIONS ABSOLUTE. EACH GRANTOR AGREES THAT ITS
OBLIGATIONS HEREUNDER, AND THE SECURITY INTEREST GRANTED TO AND ALL RIGHTS,
REMEDIES AND POWERS OF COBANK HEREUNDER, ARE IRREVOCABLE, ABSOLUTE AND
UNCONDITIONAL AND SHALL NOT BE DISCHARGED, LIMITED OR OTHERWISE AFFECTED BY
REASON OF ANY OF THE FOLLOWING, WHETHER OR NOT SUCH GRANTOR HAS KNOWLEDGE
THEREOF:
(A)
ANY CHANGE IN THE TIME, MANNER OR PLACE OF PAYMENT
OF, OR IN ANY OTHER TERM OF, ANY SECURED OBLIGATIONS, OR ANY AMENDMENT,
MODIFICATION OR SUPPLEMENT TO, RESTATEMENT OF, OR CONSENT TO ANY RESCISSION OR
WAIVER OF OR DEPARTURE FROM, ANY PROVISIONS OF THE LOAN AGREEMENT, ANY OTHER
LOAN DOCUMENT OR ANY AGREEMENT OR INSTRUMENT DELIVERED PURSUANT TO ANY OF THE
FOREGOING;
(B)
THE INVALIDITY OR UNENFORCEABILITY OF ANY SECURED OBLIGATIONS
OR ANY PROVISIONS OF THE LOAN AGREEMENT, ANY OTHER LOAN DOCUMENT OR ANY
AGREEMENT OR INSTRUMENT DELIVERED PURSUANT TO ANY OF THE FOREGOING;
(C)
THE ADDITION OR RELEASE OF THE GRANTORS HEREUNDER OR THE
TAKING, ACCEPTANCE OR RELEASE OF ANY SECURED OBLIGATIONS OR ADDITIONAL
COLLATERAL OR OTHER SECURITY THEREFOR;
37
Amended and Restated Pledge and Security Agreement/New Ulm Telecom, Inc.
Loan No. RX0583
(D)
ANY SALE, EXCHANGE, RELEASE, SUBSTITUTION, COMPROMISE,
NONPERFECTION OR OTHER ACTION OR INACTION WITH RESPECT TO ANY COLLATERAL OR
OTHER DIRECT OR INDIRECT SECURITY FOR ANY SECURED OBLIGATIONS, OR ANY DISCHARGE,
MODIFICATION, SETTLEMENT, COMPROMISE OR OTHER ACTION OR INACTION WITH RESPECT TO
ANY SECURED OBLIGATIONS;
(E)
ANY AGREEMENT NOT TO PURSUE OR ENFORCE OR ANY
FAILURE TO PURSUE OR ENFORCE (WHETHER VOLUNTARILY OR