THE BALANCE OF THIS SECTION 14.24 ARE INTENDED TO DEAL WITH THE
SURETYSHIP ASPECTS OF THE TRANSACTIONS EVIDENCED BY THE LOAN DOCUMENTS (TO THE
EXTENT THAT A BORROWER MAY BE DEEMED A GUARANTOR OR SURETY FOR THE LIABILITIES
OF ANOTHER BORROWER) AND THUS ARE INTENDED TO BE EFFECTIVE AND APPLICABLE ONLY
TO THE EXTENT THAT ANY BORROWER HAS AGREED TO ANSWER FOR THE LIABILITIES OF
ANOTHER BORROWER OR HAS GRANTED A LIEN OR SECURITY INTEREST IN COLLATERAL TO
SECURE THE LIABILITIES OF ANOTHER BORROWER.
CONVERSELY, THE CONSENTS, WAIVERS,
AND AGREEMENTS OF THE BORROWERS THAT ARE CONTAINED IN THE BALANCE OF THIS
SECTION 14.24 SHALL NOT BE APPLICABLE TO THE DIRECT LIABILITIES OF A BORROWER
WITH RESPECT TO CREDIT EXTENDED DIRECTLY TO SUCH BORROWER, AND SHALL NOT BE
APPLICABLE TO SECURITY INTERESTS OR LIENS ON COLLATERAL OF A BORROWER GIVEN TO
DIRECTLY SECURE DIRECT LIABILITIES OF SUCH BORROWER WHERE NO ASPECT OF GUARANTY
OR SURETYSHIP IS INVOLVED.
EACH BORROWER CONSENTS AND AGREES THAT THE 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 BORROWERS, AND WITHOUT AFFECTING THE ENFORCEABILITY
OR CONTINUING EFFECTIVENESS HEREOF AS TO SUCH BORROWER, 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 BORROWER, 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 LENDERS IN THEIR SOLE AND
ABSOLUTE DISCRETION MAY DETERMINE; (G) RELEASE ANY OTHER PERSON (INCLUDING,
WITHOUT LIMITATION, ANY OTHER BORROWER) FROM ANY PERSONAL LIABILITY WITH RESPECT
TO THE LIABILITIES OR ANY PART THEREOF, (H) WITH RESPECT TO ANY PERSON OTHER
THAN SUCH BORROWER (INCLUDING, WITHOUT LIMITATION, ANY OTHER BORROWER), SETTLE,
RELEASE ON TERMS SATISFACTORY TO THE LENDERS OR BY OPERATION OF APPLICABLE LAWS
OR OTHERWISE
124
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;