Administrative Agent’s Rights. Each Guarantor authorizes the Administrative Agent, without notice or demand and without affecting any Guarantor’s liability hereunder, to take and hold security for the payment of its obligations under this Article VIII and/or the Obligations, and exchange, enforce, waive and release any such security; and to apply such security and direct the order or manner of sale thereof as the Administrative Agent in its discretion may determine, and to obtain a guaranty of the Obligations from any one or more Persons and at any time or times to enforce, waive, rearrange, modify, limit or release any of such other Persons from their obligations under such guaranties.

Rights of the Administrative Agent and the ​. The ​ consents and agrees that the Administrative Agent and ​ may, to the extent permitted by law, at any time and from time to time, without notice or demand, and without affecting the enforceability or continuing effectiveness hereof: # amend, extend, renew, compromise, discharge, accelerate or otherwise change the time for payment or the terms of the Obligations or any part thereof; # take, hold, exchange, enforce, waive, release, fail to perfect, sell, or otherwise dispose of any security for the payment of this Guaranty or any Obligations; # apply such security and direct the order or manner of sale thereof as the Administrative Agent in its sole discretion may determine; and # release or substitute one or more of any endorsers or other guarantors of any of the Obligations.

Rights of the Administrative Agent and the ​. The ​ consents and agrees that the Administrative Agent and ​ may, to the extent permitted by law, at any time and from time to time, without notice or demand, and without affecting the enforceability or continuing effectiveness hereof: # amend, extend, renew, compromise, discharge, accelerate or otherwise change the time for payment or the terms of the ​ SA Obligations or any part thereof; # take, hold, exchange, enforce, waive, release, fail to perfect, sell, or otherwise dispose of any security for the payment of this Guaranty or any ​ SA Obligations; # apply such security and direct the order or manner of sale thereof as the Administrative Agent in its sole discretion may determine; and # release or substitute one or more of any endorsers or other guarantors of any of the ​ SA Obligations.