Subordination May Not Be Impaired by Guarantor. No right of the Administrative Agent or any Lender to enforce the subordination of the Guarantor Claims shall be impaired by any act or failure to act by the Guarantor or by its failure to comply with this Guaranty. The Administrative Agent and the Lenders may extend, renew, modify, or amend the terms of the Obligations and otherwise deal freely with the Guarantor and Borrower, all without affecting the liabilities and obligations of the parties to this Guaranty.
Appears in 3 contracts
Sources: Credit Agreement (Lone Pine Resources Inc.), Credit Agreement (Lone Pine Resources Inc.), Credit Agreement (Forest Oil Corp)