Avis 2006 Annual Report Download - page 277

26.3. Lessor’s Right to Amend this Agreement, Etc .
The Finance Lease Guarantor authorizes the Lessor, at any time and from time to time without notice and without affecting the
liability of the Finance Lease Guarantor hereunder, to: (a) alter the terms of all or any part of the Guaranteed Obligations and any security and
guaranties therefor including without limitation modification of times for payment and rates of interest; (b) accept new or additional
instruments, documents, agreements, security or guaranties in connection with all or any part of the Guaranteed Obligations; (c) accept partial
payments on the Guaranteed Obligations; (d) waive, release, reconvey, terminate, abandon, subordinate, exchange, substitute, transfer,
compound, compromise, liquidate and enforce all or any part of the Guaranteed Obligations and any security or guaranties therefor, and apply
any such security and direct the order or manner of sale thereof (and bid and purchase at any such sale), as the Lessor in its discretion may
determine; (e) release any Guaranteed Lessee, any other guarantor or any other Person from any personal liability with respect to all or any part
of the Guaranteed Obligations; and (f) assign its rights under this Finance Lease Guaranty in whole or in part.
26.4. Waiver of Certain Rights by Finance Lease Guarantor .
The Finance Lease Guarantor hereby waives each of the following to the fullest extent allowed by law:
(a) all statutes of limitation as a defense to any action brought by the Lessor against the Finance Lease Guarantor;
(b) any defense based upon:
(i) the unenforceability or invalidity of all or any part of the Guaranteed Obligations or any security or other guaranty for the
Guaranteed Obligations or the lack of perfection or failure of priority of any security for the Guaranteed Obligations; or
(ii) any act or omission of the Lessor or any other Person that directly or indirectly results in the discharge or release of any
Guaranteed Lessee or any other Person or any of the Guaranteed Obligations or any security therefor; or
(iii) any disability or any other defense of any Guaranteed Lessee or any other Person with respect to the Guaranteed
Obligations, whether consensual or arising by operation of law or any bankruptcy, insolvency or debtor-relief proceeding, or from
any other cause;
(c) any right (whether now or hereafter existing) to require the Lessor, as a condition to the enforcement of this Finance Lease
Guaranty, to:
(i) accelerate the Guaranteed Obligations;
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