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AYR » Topics » Absolute Rights and Obligations

This excerpt taken from the AYR 8-K filed Dec 18, 2006.
Absolute Rights and Obligations.   All rights of the Guaranteed Parties, and all obligations of the Guarantors hereunder, shall be absolute and unconditional irrespective of:

1.     any lack of validity or enforceability of the Credit Agreement, any other Loan Document or any other agreement or instrument relating to any of the Obligations;

2.     any change in the time, manner or place of payment of, or in any other term of, all or any of the Obligations, or any other amendment or waiver of or any consent to any departure from the Credit Agreement, any other Loan Document or any other agreement or instrument relating to any of the Obligations;

3.     any exchange, release or non-perfection of any other collateral, or any release or amendment or waiver of or consent to departure from any guaranty, for all or any of the Obligations; or

4.     any other circumstances which might otherwise constitute a defense available to, or a discharge of, any Guarantor in respect of the Obligations or of this Agreement.

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