Common use of Authorization of Lender Clause in Contracts

Authorization of Lender. Guarantor authorizes Lender, without notice to Guarantor and without impairing the liability of Guarantor hereunder, from time to time to renew, extend, accelerate, modify, or otherwise change the times for or terms of payment for the Indebtedness or any portion thereof, including but not limited to any increase or decrease in the rates of interest provided in the Note, to make other amendments, changes or modifications to the Loan Documents, to waive any other terms, covenants, or conditions thereof, to compromise or settle any amount or claim due or owing or claimed to be due or owing under the Loan Documents, or to surrender, release or subordinate all or any portion of the property or assets defined in the Security Agreement. The provisions of this Guaranty shall extend and be applicable to all such renewals, extensions and modifications.