Common use of Waiver of Certain Rights by Subordinated Creditor Clause in Contracts

Waiver of Certain Rights by Subordinated Creditor. Each Subordinated Creditor hereby waives any rights it may have under applicable law to assert the doctrine of marshaling or to otherwise require the Senior Agent or the Senior Creditors to marshal any property of the Borrower or any other Obligor of the Senior Debt for the benefit of such Subordinated Creditor or to pursue any other remedy in its power. The Subordinated Creditors waive notice of acceptance of this Agreement and presentment, demand, protest, notice of protest, dishonor, notice of dishonor, notice of default, notice of intent to accelerate or demand payment of any Senior Debt any and all other notices to which the Subordinated Creditor might otherwise be entitled, and diligence in collecting any Senior Debt, and agrees that the Senior Creditor may, once or any number of times, modify the terms of any Senior Debt, compromise, extend, increase, accelerate, renew or forbear to enforce payment of any or all Senior Debt, , all without notice to the Subordinated Creditor and without affecting in any manner the unconditional obligations of the Subordinated Creditor under this Agreement