The Pledgors waive any right to require the Lender to proceed against any person, to proceed against or exhaust any collateral, or to pursue any other remedy in the power of the Lender. The Pledgors further waive any defense arising by reason of any disability or other defense of any other person. Until all of the Pledgors' Obligations are paid or performed in full, the Pledgors shall have no right of subrogation, and the Pledgors waive any right to enforce any remedy that the Lender now has or hereafter may have against any other person and waive any benefit of and any right to participate in any collateral whatsoever now or hereafter held by the Lender.