GUARANTOR OR SURETY FOR THE LIABILITIES OF ANOTHER
OBLIGOR) AND THUS ARE INTENDED TO BE EFFECTIVE AND APPLICABLE ONLY TO THE EXTENT
THAT ANY OBLIGOR HAS AGREED TO ANSWER FOR THE LIABILITIES OF ANOTHER OBLIGOR OR
HAS GRANTED A LIEN OR SECURITY INTEREST IN COLLATERAL TO SECURE THE LIABILITIES
OF ANOTHER OBLIGOR.
CONVERSELY, THE CONSENTS, WAIVERS, AND AGREEMENTS OF THE
OBLIGORS THAT ARE CONTAINED IN THE BALANCE OF THIS SECTION 14.23 SHALL NOT BE
APPLICABLE TO THE DIRECT LIABILITIES OF A OBLIGOR WITH RESPECT TO CREDIT
EXTENDED DIRECTLY TO SUCH OBLIGOR, AND SHALL NOT BE APPLICABLE TO SECURITY
INTERESTS OR LIENS ON COLLATERAL OF A OBLIGOR GIVEN TO DIRECTLY SECURE DIRECT
LIABILITIES OF SUCH OBLIGOR WHERE NO ASPECT OF GUARANTY OR SURETYSHIP IS
INVOLVED.
EACH OBLIGOR CONSENTS AND AGREES THAT THE TERM LENDERS MAY, AT ANY
TIME AND FROM TIME TO TIME, WITHOUT NOTICE OR DEMAND, WHETHER BEFORE OR AFTER
ANY ACTUAL OR PURPORTED TERMINATION, REPUDIATION OR REVOCATION OF THIS AGREEMENT
BY ANY ONE OR MORE
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OBLIGORS, AND WITHOUT AFFECTING THE ENFORCEABILITY OR CONTINUING EFFECTIVENESS
HEREOF AS TO SUCH OBLIGOR, IN ACCORDANCE WITH THE TERMS OF THE LOAN DOCUMENTS:
(A) SUPPLEMENT, RESTATE, MODIFY, AMEND, INCREASE, DECREASE, EXTEND, RENEW,
ACCELERATE OR OTHERWISE CHANGE THE TIME FOR PAYMENT OR THE TERMS OF THE
LIABILITIES OR ANY PART THEREOF, INCLUDING ANY INCREASE OR DECREASE OF THE
RATE(S) OF INTEREST THEREON; (B) SUPPLEMENT, RESTATE, MODIFY, AMEND, INCREASE,
DECREASE OR WAIVE, OR ENTER INTO OR GIVE ANY AGREEMENT, APPROVAL OR CONSENT WITH
RESPECT TO, THE LIABILITIES OR ANY PART THEREOF, OR ANY OF THE LOAN DOCUMENTS OR
ANY SECURITY OR GUARANTEES GRANTED OR ENTERED INTO BY ANY PERSON(S) OTHER THAN
SUCH OBLIGOR, OR ANY CONDITION, COVENANT, DEFAULT, REMEDY, RIGHT, REPRESENTATION
OR TERM THEREOF OR THEREUNDER; (C) ACCEPT NEW OR ADDITIONAL INSTRUMENTS,
DOCUMENTS OR AGREEMENTS IN EXCHANGE FOR OR RELATIVE TO ANY OF THE LOAN DOCUMENTS
OR THE LIABILITIES OR ANY PART THEREOF, (D) ACCEPT PARTIAL PAYMENTS ON THE
LIABILITIES; (E) RECEIVE AND HOLD ADDITIONAL SECURITY OR GUARANTEES FOR THE
LIABILITIES OR ANY PART THEREOF, (F) RELEASE, RECONVEY, TERMINATE, WAIVE,
ABANDON, FAIL TO PERFECT, SUBORDINATE, EXCHANGE, SUBSTITUTE, TRANSFER OR ENFORCE
ANY SECURITY OR GUARANTEES, AND APPLY ANY SECURITY AND DIRECT THE ORDER OR
MANNER OF SALE THEREOF AS THE TERM LENDERS IN THEIR SOLE AND ABSOLUTE DISCRETION
MAY DETERMINE; (G) RELEASE ANY OTHER PERSON (INCLUDING, WITHOUT LIMITATION, ANY
OTHER OBLIGOR) FROM ANY PERSONAL LIABILITY WITH RESPECT TO THE LIABILITIES OR
ANY PART THEREOF, (H) WITH RESPECT TO ANY PERSON OTHER THAN SUCH OBLIGOR
(INCLUDING, WITHOUT LIMITATION, ANY OTHER OBLIGOR), SETTLE, RELEASE ON TERMS
SATISFACTORY TO THE TERM LENDERS OR BY OPERATION OF APPLICABLE LAWS OR OTHERWISE
LIQUIDATE OR ENFORCE ANY LIABILITIES AND ANY SECURITY THEREFOR OR GUARANTY
THEREOF IN ANY MANNER, CONSENT TO THE TRANSFER OF ANY SECURITY AND BID AND
PURCHASE AT ANY SALE; OR (I) CONSENT TO THE MERGER, CHANGE OR ANY OTHER
RESTRUCTURING OR TERMINATION OF THE CORPORATE OR PARTNERSHIP EXISTENCE OF ANY
OTHER OBLIGOR OR ANY OTHER PERSON, AND CORRESPONDINGLY