THE ADMINISTRATIVE AGENT IN
THE EXACT FORM RECEIVED BY SUCH GUARANTOR (DULY
6
indorsed by such Guarantor to the Administrative Agent, if required), to be
applied against the Secured Obligations, whether matured or unmatured, in such
order as the Administrative Agent may determine.
2.4
AMENDMENTS, ETC. WITH RESPECT TO THE SECURED
OBLIGATIONS.
EACH GUARANTOR SHALL REMAIN OBLIGATED HEREUNDER NOTWITHSTANDING
THAT, WITHOUT ANY RESERVATION OF RIGHTS AGAINST ANY GUARANTOR AND WITHOUT NOTICE
TO OR FURTHER ASSENT BY ANY GUARANTOR, ANY DEMAND FOR PAYMENT OF ANY OF THE
SECURED OBLIGATIONS MADE BY THE ADMINISTRATIVE AGENT OR ANY LENDER MAY BE
RESCINDED BY THE ADMINISTRATIVE AGENT OR SUCH LENDER AND ANY OF THE SECURED
OBLIGATIONS CONTINUED, AND THE SECURED OBLIGATIONS, OR THE LIABILITY OF ANY
OTHER PERSON UPON OR FOR ANY PART THEREOF, OR ANY COLLATERAL SECURITY OR
GUARANTY THEREFOR OR RIGHT OF OFFSET WITH RESPECT THERETO, MAY, FROM TIME TO
TIME, IN WHOLE OR IN PART, BE RENEWED, EXTENDED, AMENDED, MODIFIED, ACCELERATED,
COMPROMISED, WAIVED, SURRENDERED OR RELEASED BY THE ADMINISTRATIVE AGENT OR ANY
LENDER, AND THE CREDIT AGREEMENT, ANY OTHER LOAN DOCUMENT OR ANY OTHER DOCUMENT
EXECUTED AND DELIVERED IN CONNECTION THEREWITH MAY BE AMENDED, MODIFIED,
SUPPLEMENTED OR TERMINATED, IN WHOLE OR IN PART, AS THE ADMINISTRATIVE AGENT (OR
THE REQUIRED LENDERS OR ALL THE LENDERS, AS THE CASE MAY BE) MAY DEEM ADVISABLE
FROM TIME TO TIME.
NEITHER THE ADMINISTRATIVE AGENT NOR ANY LENDER SHALL HAVE
ANY OBLIGATION TO PROTECT, SECURE, PERFECT OR INSURE ANY LIEN AT ANY TIME HELD
BY IT AS SECURITY FOR THE SECURED OBLIGATIONS OR FOR THE GUARANTY CONTAINED IN
THIS SECTION 2 OR ANY PROPERTY SUBJECT THERETO.
THE ADMINISTRATIVE AGENT OR ANY LENDER MAY, FROM TIME TO TIME, AT ITS SOLE
DISCRETION AND WITHOUT NOTICE TO THE GUARANTORS (OR ANY OF THEM), TAKE ANY OR
ALL OF THE FOLLOWING ACTIONS WITHOUT AFFECTING IN ANY MANNER THE OBLIGATIONS OF
THE GUARANTORS HEREUNDER:
(A) RETAIN OR OBTAIN A SECURITY INTEREST IN ANY
PROPERTY TO SECURE ANY OF THE SECURED OBLIGATIONS OR ANY OBLIGATION HEREUNDER,
(B) RETAIN OR OBTAIN THE PRIMARY OR SECONDARY OBLIGATION OF ANY OBLIGOR OR
OBLIGORS, IN ADDITION TO THE GRANTORS, WITH RESPECT TO ANY OF THE SECURED
OBLIGATIONS, (C) EXTEND OR RENEW ANY OF THE SECURED OBLIGATIONS FOR ONE OR MORE
PERIODS (WHETHER OR NOT LONGER THAN THE ORIGINAL PERIOD), ALTER OR EXCHANGE ANY
OF THE SECURED OBLIGATIONS OR RELEASE OR COMPROMISE ANY OBLIGATION OF ANY
GRANTOR HEREUNDER OR ANY OBLIGATION OF ANY NATURE OF ANY OTHER OBLIGOR WITH
RESPECT TO ANY OF THE SECURED OBLIGATIONS, (D) RELEASE ANY GUARANTY OR RIGHT OF
OFFSET OR ITS SECURITY INTEREST IN, OR SURRENDER, RELEASE OR PERMIT ANY
SUBSTITUTION OR EXCHANGE FOR, ALL OR ANY PART OF ANY PROPERTY SECURING ANY OF
THE SECURED OBLIGATIONS OR ANY OBLIGATION HEREUNDER, OR EXTEND OR RENEW FOR ONE
OR MORE PERIODS (WHETHER OR NOT LONGER THAN THE ORIGINAL PERIOD) OR RELEASE,
COMPROMISE, ALTER OR EXCHANGE ANY OBLIGATIONS OF ANY NATURE OF ANY OBLIGOR WITH
RESPECT TO ANY SUCH PROPERTY, AND