I'm busy looking through an offer to purchase contract for a property, and was wondering exactly what this section meant. The context is for a juristic person buying the property and the signatory signing surety and co-principal debtor.

The signatory hereby renounces all benefits arising from the following legal exceptions and privileges:

non causa debiti – the right of the surety to require that the creditor must prove that there was a legal cause underlying the debt;

de errore calculi – the right of the surety to require that the creditor must prove that there was no error in calculation of the debt owed to him by the debtor;

revision of accounts – the right of the surety to require that the creditor must prove that the accounts need not be debated;

no value received – the right of the surety to require that the creditor must prove that the debtor had received value from the creditor;

beneficium de duobus vel pluribus reis debendi – the right of the surety to require that the creditor should have recourse against one or more other persons liable for the same debt jointly with the surety and not to proceed against the surety alone;

beneficium divisionis – the right of the surety, where there is more than one surety for the debtor's obligations, to require that the creditor must not sue the surety for the full amount owing under the surety ship but only for a pro rata share of the debt;

beneficium cedendarum actionum – the right of the surety to require that before the creditor sues him, the creditor must first cede his right of action against the debtor to the surety;

or any other exceptions which might legally be taken by him against any claims made against him in his capacity as a surety as aforesaid, with the force and meaning whereof the said signatory declares himself to be fully acquainted.
What are the implications of ceding all of these rights? What are the scenarios where one would want these rights?