CONTINUING GUARANTEE OF PAYMENT AND PERFORMANCE. For good and valuable consideration, Guarantor absolutely and unconditionally guarantees full and punctual payment and satisfaction of the Indebtedness of Borrower to Lender, and the performance and discharge of all Borrower’s obligations under the Note and the Related Documents. This is a guaranty of payment and performance and not of collection, so Lender can enforce this Guaranty against Guarantor even when Xxxxxx has not exhausted Xxxxxx’s remedies against anyone else obligated to pay the Indebtedness or against any collateral securing the Indebtedness, this Guaranty or any other guaranty of the Indebtedness. Guarantor will make any payments to Lender or its order, on demand, in legal tender of the United States of America, in same-day funds, without set-off or deduction or counterclaim, and will otherwise perform Borrower’s obligations under the Note and Related Documents. Under this Guaranty, Guarantor’s liability is unlimited and Guarantor’s obligations are continuing.
CONTINUING GUARANTEE OF PAYMENT AND PERFORMANCE. Guarantor further agrees that its guarantee contained herein constitutes a continuing guarantee of payment and performance when due, and not of collection, and therefore Pepco shall not be required (although it is entitled, at its option) to prosecute collection, enforcement or other remedies against the other Mirant Settling Parties, any other guarantor or any other person, before calling on Guarantor for payment and performance of the Obligations. Guarantor further waives any right to require that any resort be had by Pepco (although it is entitled, at its option) to any security.
CONTINUING GUARANTEE OF PAYMENT AND PERFORMANCE. For good and valuable consideration, Guarantor absolutely and unconditionally guarantees full and punctual payment and satisfaction of the Indebtedness of Merchant to Company, and the performance and discharge of all its obligations under the User Agreement and the Payment Services Agreement. This is a guaranty of payment and performance and not of collection, so Company can enforce this Guaranty against Guarantor even when Company has not exhausted Company’s remedies against anyone else obligated to pay the Indebtedness or against any collateral securing the Indebtedness, this Guaranty, or any other guaranty of the Indebtedness. Guarantor will make payments to Company or its order, on demand, in legal tender of the United States of America, in same-day funds, without set-off or deduction or counterclaim, and will otherwise perform Merchant’s obligations under the User Agreement and Payment Services Agreement. Under this Guaranty, Guarantor’s obligations are continuing.
