Common use of Nature of the Obligations Clause in Contracts

Nature of the Obligations. Each Debtor is jointly and severally liable for each and every Obligation. Each Debtor consents that, without the necessity of any reservation of rights against it and without notice to or further assent by it, the obligations and liabilities of each Debtor and any other party or parties for or upon any of the obligations of any Affiliate of each Debtor, 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, modified, accelerated, compromised or released by Lender; all as Lender may deem advisable from time to time without impairing, abridging, releasing or affecting the obligations set forth in this Section 2.7.