Common use of Changes of Status Clause in Contracts

Changes of Status. Guarantor hereby acknowledges and agrees that this Guaranty and the obligations of Guarantor hereunder shall not be affected and shall not be discharged by reason of any change in the status of Borrower, including, without limitation, changes in name or structure of Borrower; merger or consolidation of Borrower with any other entity or entities, or the transfer of all or any part of Borrower's assets to another entity; termination or dissolution of Borrower; the filing of a petition by or against Borrower under the bankruptcy laws of the United States, or the voluntary or involuntary takeover of Borrower by Borrower's creditors; additions or losses of partners of Borrower by death, succession or otherwise; any change in the status of Guarantor with respect to Borrower, including, without limitation, termination, transfer or conveyance of Guarantor's ownership interest in Borrower or in any partners of Borrower, whether general or limited, or termination or resignation of Guarantor as the sole general partner of Borrower; or changes in operating procedures, management or in the nature or location of Borrower's business.

Changes of Status. Guarantor hereby acknowledges and agrees that this Guaranty and the obligations of Guarantor hereunder shall not be affected and shall not be discharged by reason of any change in the status of Borrower, including, without limitation, changes in name or structure of Borrower; merger or consolidation of Borrower with any other entity or entities, or the transfer of all or any part of Borrower's assets to another entity; termination or dissolution of Borrower; the filing of a petition by or against Borrower under the bankruptcy laws of the United States, or the voluntary or involuntary takeover of Borrower by Borrower's creditors; additions or losses of partners of Borrower by death, succession or otherwise; any change in the status of Guarantor with respect to Borrower, including, without limitation, termination, transfer or conveyance of Guarantor's ownership interest in Borrower or in any partners of Borrower, whether general or limited, or termination or resignation of Guarantor as the sole general partner General Partner of Borrower; or changes in operating procedures, management or in the nature or location of Borrower's business.