Common use of Continuing Guaranty Clause in Contracts

Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by Beneficiaries, (b) no such revocation shall apply to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocation, (d) no payment by any Guarantor, Borrower, or from any other source, prior to the date of such revocation, shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations of such Guarantor hereunder.

Appears in 9 contracts

Sources: Loan Agreement (Cheesecake Factory Inc), Loan Agreement (Cheesecake Factory Inc), Credit Agreement (McClatchy Co)

Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future IndebtednessGuarantied Obligations. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by BeneficiariesAgent, (b) no such revocation shall apply to any Guarantied Obligations in existence on the date of receipt by Agent of such date written notice (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries the Lender Group in existence on the date of such revocation, (d) no payment by any Guarantor, Borrower, or from any other source, prior to the date of Agent’s receipt of written notice of such revocation, revocation shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations obligation of such Guarantor hereunder.

Appears in 8 contracts

Sources: General Continuing Guaranty (Servicesource International LLC), General Continuing Guaranty (Hawaiian Holdings Inc), General Continuing Guaranty (Servicesource International LLC)

Continuing Guaranty. This Guaranty includes Guarantied any and all Guaranteed Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Guaranteed Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Guaranteed Obligations after prior Guarantied Guaranteed Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future IndebtednessLiabilities. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by BeneficiariesAdministrative Agent, (b) no such revocation shall apply to any Guarantied Guaranteed Obligations in existence on such date (including including, but not limited to, any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Guaranteed Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries Administrative Agent in existence on the date of such revocation, (d) no payment by any Guarantor, Borrower, or from any other source, prior to the date of such revocation, revocation shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor Guarantor, subsequent to the date of such revocation revocation, shall first be applied to that portion of the Guarantied Guaranteed Obligations as to which the revocation is effective and which are not, therefore, guarantied guaranteed hereunder, and to the extent so applied shall not reduce the maximum obligations obligation of such Guarantor hereunder.

Appears in 8 contracts

Sources: Guaranty (Diversicare Healthcare Services, Inc.), Guaranty (Diversicare Healthcare Services, Inc.), Guaranty (Diversicare Healthcare Services, Inc.)

Continuing Guaranty. This Guaranty includes Guarantied Each Guarantor guarantees that the Guaranteed Obligations arising under successive transactions continuingwill be paid strictly in accordance with the terms of this Agreement, compromisingthe Notes and the other Loan Documents. Each Guarantor agrees that the Guaranteed Obligations and Loan Documents may be extended or renewed, extending, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied Loans repaid and reborrowed in whole or in part, without notice to or assent by such Guarantor, and that it will remain bound upon this Guaranty notwithstanding any extension, renewal or other alteration of any Guaranteed Obligations or Loan Documents, or any repayment and reborrowing of Loans. To the maximum extent permitted by applicable law, the obligations of each Guarantor hereby waives any right to revoke under this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding shall be absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the foregoing waiverterms hereof under any circumstances whatsoever, each Guarantor acknowledges and agrees that including: (a) no such revocation shall be effective until written notice thereof has been received by Beneficiariesany extension, renewal, modification, settlement, compromise, waiver or release in respect of any Guaranteed Obligations; (b) no such revocation shall apply to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, renewal, amendment, modification, rescission, waiver or renewal thereofrelease in respect of any Loan Documents; (c) any release, exchange, substitution, non-perfection or invalidity of, or failure to exercise rights or remedies with respect to, any direct or indirect security for any Guaranteed Obligations, including the release of any Guarantor or other Person liable on any Guaranteed Obligations; (d) any change in the interest ratecorporate existence, payment termsstructure or ownership of the Company, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocation, (d) no payment by any Guarantor, Borroweror any insolvency, bankruptcy, reorganization or from other similar proceeding affecting the Company, such Guarantor, any other source, prior to the date Guarantor or any of such revocation, shall reduce the maximum obligation of such Guarantor hereunder, and their respective assets; (e) the existence of any payment by Borrower claim, defense, set-off or from other rights or remedies which such Guarantor at any source time may have against the Company, or the Company or such Guarantor may have at any time against the Agent, any Bank, any other Guarantor or any other Person, whether in connection with this Guaranty, the Loan Documents, the transactions contemplated thereby or any other transaction other than by the payment in full by the Company of the Guaranteed Obligations after the termination of the Commitments of the Banks; (f) any invalidity or unenforceability for any reason of this Agreement or other Loan Documents, or any provision of law purporting to prohibit the payment or performance by the Company, such Guarantor subsequent or any other Guarantor of the Guaranteed Obligations or Loan Documents, or of any other obligation to the date of such revocation shall first be applied Agent or any Bank; or (g) any other circumstances or happening whatsoever, whether or not similar to that portion any of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations of such Guarantor hereunderforegoing.

Appears in 7 contracts

Sources: Credit Agreement (Comfort Systems Usa Inc), Credit Agreement (Group Maintenance America Corp), Credit Agreement (Group Maintenance America Corp)

Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by BeneficiariesGuarantied Party, (b) no such revocation shall apply to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries Guarantied Party in existence on the date of such revocation, (d) no payment by any Guarantor, BorrowerDebtor, or from any other source, prior to the date of such revocation, revocation shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower Debtor or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations obligation of such Guarantor hereunder.

Appears in 6 contracts

Sources: General Continuing Guaranty (Fitzgeralds Gaming Corp), General Continuing Guaranty (Sm&a Corp), Loan and Security Agreement (Sands Regent)

Continuing Guaranty. This Guaranty includes Guarantied is an absolute, unconditional and continuing guaranty of performance and payment of the Guaranteed Obligations. No notice of the Guaranteed Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasingto which this Guaranty may apply, or renewing the Guarantied Obligationsof any renewal, changing the interest ratemodification, payment termsconsolidation, replacement, extension or other terms and conditions amendment thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in partneed be given to Guarantor and none of the foregoing acts will release Guarantor from liability hereunder. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that expressly waives: (a) no such revocation shall be effective until written demand for payment or performance, presentment, protest, notice thereof has been received by Beneficiariesof dishonor, nonpayment or nonperformance on any and all forms of the Guaranteed Obligations; (b) no such revocation shall apply notice of acceptance of this Guaranty and notice of any liability to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), which it may apply; (c) no such revocation shall apply to all other notices and demands of any Guarantied Obligations made or created after such date kind and description relating to the extent made Guaranteed Obligations now or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocationhereafter provided for by any statute, law, rule or regulation; (d) no payment any and all rights or defenses arising by reason of election of remedies by Lender that destroys or otherwise adversely affects Guarantor’s subrogation rights or Guarantor’s rights to proceed against Borrower for reimbursement, including, without limitation, loss of rights Guarantor may suffer by reason of any Guarantorlaw limiting, Borrower, qualifying or from any other source, prior to discharging the date of such revocation, shall reduce the maximum obligation of such Guarantor hereunder, and Guaranteed Obligations; (e) any payment disability or other defense of Borrower of any other guarantor, or of any other person, or by Borrower or reason of the cessation of Borrower’s liability from any source cause whatsoever, other than such payment in full in legal tender of the Guaranteed Obligations; (f) any right to claim discharge of the Guaranteed Obligations on the basis of impairment of any collateral for the Guaranteed Obligations; (g) any defenses given to Guarantor subsequent by any failure, neglect or omission by Lender to perfect in any manner the collection of the Guaranteed Obligations or the security given therefor, including the failure or omission to seek a deficiency judgment against Borrower; and (h) any and all other defenses of Borrower pertaining to the date Guaranteed Obligations, including any Borrower counterclaim or claim of such revocation shall first recoupment or setoff except the defense of discharge by payment. Guarantor will not be applied exonerated with respect to that portion Guarantor’s liability under this Guaranty by any act or thing except payment or performance of the Guarantied Obligations as Guaranteed Obligations. Guarantor warrants and agrees that each of the waivers set forth above is made with Guarantor’s full knowledge of its significance and consequences and that, under the circumstances, the waivers are reasonable and not contrary to which the revocation public policy or law. If such waiver is determined to be contrary to any applicable law or public policy, such waiver will be effective and which are not, therefore, guarantied hereunder, and only to the extent so applied shall not reduce permitted by law or public policy. Without limiting the maximum obligations generality of such the foregoing, Guarantor hereunderwaives any setoff or offset rights that Guarantor might otherwise have under applicable law, as amended from time to time (or under any corresponding present or future rule of law in any jurisdiction) by reason of any release of fewer than all persons who have guaranteed performance of the Guaranteed Obligations.

Appears in 6 contracts

Sources: Guaranty Agreement (Amrep Corp.), Guaranty Agreement (Amrep Corp.), Guaranty Agreement (Amrep Corp.)

Continuing Guaranty. This Guaranty Agreement includes Guarantied all present and future Guaranteed Obligations arising including any under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Guaranteed Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Guaranteed Obligations after prior Guarantied Guaranteed Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty Agreement as to future IndebtednessGuaranteed Obligations. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (ai) no such revocation shall be effective until written notice thereof has been received by BeneficiariesAgent and Lenders, (bii) no such revocation shall apply to any Guarantied Guaranteed Obligations in existence on the date of receipt by Agent and Lenders of such date written notice (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (ciii) no such revocation shall apply to any Guarantied Guaranteed Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries Agent and Lenders in existence on the date of such revocation, (div) no payment by any Guarantor, Borrower, or from any other source, prior to the date of Agent and Lenders’ receipt of written notice of such revocation, revocation shall reduce the maximum obligation of such Guarantor hereunder, and (ev) any payment by Borrower or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Guaranteed Obligations as to which the revocation is effective and which are not, therefore, guarantied guaranteed hereunder, and to the extent so applied shall not reduce the maximum obligations obligation of such Guarantor hereunder. This Agreement shall be binding upon Guarantor, its successors and assigns and inure to the benefit of and be enforceable by Agent and Lenders and their successors, transferees, or assigns.

Appears in 5 contracts

Sources: Master Loan Agreement, Master Loan Agreement (Carvana Co.), Master Loan Agreement (Carvana Co.)

Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future IndebtednessGuarantied Obligations. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by BeneficiariesAgent, (b) no such revocation shall apply to any Guarantied Obligations in existence on the date of receipt by Agent of such date written notice (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries the Lender Group in existence on the date of such revocation, (d) no payment by any Guarantor, any Borrower, or from any other source, prior to the date of Agent’s receipt of written notice of such revocation, revocation shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by any Borrower or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations obligation of such Guarantor hereunder.

Appears in 4 contracts

Sources: General Continuing Guaranty, General Continuing Guaranty (Boise Cascade Holdings, L.L.C.), General Continuing Guaranty (Renewable Energy Group, Inc.)

Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuingGuarantor hereby unconditionally guarantees and promises to pay on demand to Silicon, compromising, extending, increasing, modifying, releasingat the address indicated above, or renewing at such other address as Silicon may direct, in lawful money of the Guarantied ObligationsUnited States, changing and to perform for the interest ratebenefit of Silicon, payment termsall Indebtedness of Borrower now or hereafter owing to or held by Silicon. As used herein, the term "Indebtedness" is used in its most comprehensive sense and shall mean and include without limitation: (a) any and all debts, duties, obligations, liabilities, representations, warranties and guaranties of Borrower or any one or more of them, heretofore, now, or other terms and conditions thereofhereafter made, incurred, or creating created, whether directly to Silicon or acquired by Silicon by assignment or otherwise, or held by Silicon on behalf of others, however arising, whether voluntary or involuntary, due or not due, absolute or contingent, liquidated or unliquidated, certain or uncertain, determined or undetermined, monetary or nonmonetary, written or oral, and whether Borrower may be liable individually or jointly with others, and regardless of whether recovery thereon may be or hereafter become barred by any statute of limitations, discharged or uncollectible in any bankruptcy, insolvency or other proceeding, or otherwise unenforceable; and (b) any and all amendments, modifications, renewals and extensions of any or all of the foregoing, including without limitation amendments, modifications, renewals and extensions which are evidenced by any new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied instrument, document or agreement; and (c) any and all attorneys' fees, court costs, and collection charges incurred in whole endeavoring to collect or in part. To the maximum extent permitted by law, each Guarantor hereby waives enforce any right to revoke this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding of the foregoing waiveragainst Borrower, each Guarantor, or any other person liable thereon (whether or not suit be brought) and any other expenses of, for or incidental to collection thereof. As used herein, the term "Borrower" shall include any successor to the business and assets of Borrower, and shall also include Borrower in its capacity as a debtor or debtor in possession under the federal Bankruptcy Code, and any trustee, custodian or receiver for Borrower or any of its assets, should Borrower hereafter become the subject of any bankruptcy or insolvency proceeding, voluntary or involuntary; and all indebtedness, liabilities and obligations incurred by any such person shall be included in the Indebtedness guaranteed hereby. This Guaranty is given in consideration for credit and other financial accommodations which may, from time to time, be given by Silicon to Borrower in Silicon's sole discretion, but Guarantor acknowledges and agrees that (a) no acceptance by Silicon of this Guaranty shall not constitute a commitment of any kind by Silicon to extend such revocation credit or other financial accommodation to Borrower or to permit Borrower to incur Indebtedness to Silicon. All sums due under this Guaranty shall be effective bear interest from the date due until written notice thereof has been received by Beneficiaries, (b) no such revocation shall apply the date paid at the highest rate charged with respect to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocation, (d) no payment by any Guarantor, Borrower, or from any other source, prior to the date of such revocation, shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations of such Guarantor hereunderIndebtedness.

Appears in 4 contracts

Sources: Continuing Guaranty (Netplex Group Inc), Continuing Guaranty (Ecoscience Corp/De), Continuing Guaranty (Ecoscience Corp/De)

Continuing Guaranty. This Guaranty includes Guarantied Guaranteed Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Guaranteed Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Guaranteed Obligations after prior Guarantied Guaranteed Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future Indebtednessindebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by BeneficiariesFoothill, (b) no such revocation shall apply to any Guarantied Guaranteed Obligations in existence on such date (including including, any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Guaranteed Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries Foothill in existence on the date of such revocation, (d) no payment by any Guarantor, Borrower, or from any other source, prior to the date of such revocation, revocation shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor Guarantor, subsequent to the date of such revocation revocation, shall first be applied to that portion of the Guarantied Guaranteed Obligations as to which the revocation is effective and which are not, therefore, guarantied guaranteed hereunder, and to the extent so applied shall not reduce the maximum obligations obligation of such Guarantor hereunder.

Appears in 4 contracts

Sources: Continuing Guaranty (Bpi Packaging Technologies Inc), Continuing Guaranty (Bpi Packaging Technologies Inc), Continuing Guaranty (Leisure Time Casinos & Resorts Inc)

Continuing Guaranty. This Guaranty includes Guarantied Guaranteed Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, releasing or renewing the Guarantied Guaranteed Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Guaranteed Obligations after prior Guarantied Guaranteed Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future IndebtednessGuaranteed Obligations. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by Beneficiariesthe Administrative Agent, (b) no such revocation shall apply to any Guarantied Guaranteed Obligations in existence on the date of receipt by the Administrative Agent of such date written notice (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Guaranteed Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries the Lender Creditors in existence on the date of such revocation, (d) no payment by any Guarantor, Borrower, or from any other source, prior to the date of the Administrative Agent’s receipt of written notice of such revocation, revocation shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor the Guarantors subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Guaranteed Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations obligation of such Guarantor the Guarantors hereunder.

Appears in 3 contracts

Sources: Term Loan Credit Agreement, Term Loan Credit Agreement (Jill Intermediate LLC), Term Loan Credit Agreement (AdvancePierre Foods Holdings, Inc.)

Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received and acknowledged by Beneficiaries, (b) no such revocation shall apply to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereofthereof to the extent permitted by law), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocation, (d) no payment by any Guarantor, Borrower, or from any other source, prior to the date of such revocation, revocation shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are is not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations of such Guarantor hereunder.

Appears in 3 contracts

Sources: Credit Agreement (Monarch Casino & Resort Inc), Credit Agreement (Century Casinos Inc /Co/), General Continuing Guaranty (Monarch Casino & Resort Inc)

Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by Beneficiaries, (b) no such revocation shall apply to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocation, (d) no payment by any Guarantor, the Borrower, or from any other source, prior to the date of such revocation, shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by the Borrower or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations of such Guarantor hereunder.

Appears in 3 contracts

Sources: Guaranty (Everi Holdings Inc.), Guaranty (Everi Holdings Inc.), Guaranty (Global Cash Access Holdings, Inc.)

Continuing Guaranty. The Company hereby absolutely and unconditionally guarantees, as a guaranty of payment and not merely as a guaranty of collection, prompt payment when due, whether at stated maturity, by required prepayment, upon acceleration, demand or otherwise, and at all times thereafter, of any and all of the Obligations, whether for principal, interest, premiums, fees, indemnities, damages, costs, expenses or otherwise, of the Designated Borrowers to the Credit Parties, arising hereunder or under any other Loan Document (including all renewals, extensions, amendments, refinancings and other modifications thereof and all costs, attorneys’ fees and expenses incurred by the Credit Parties in connection with the collection or enforcement thereof, the “Guarantee Obligations”). The Administrative Agent’s books and records showing the amount of the Guarantee Obligations shall be admissible in evidence in any action or proceeding, and shall be binding upon the Company, and conclusive for the purpose of establishing the amount of the Guarantee Obligations absent manifest error. This Guaranty includes Guarantied shall not be affected by the genuineness, validity, regularity or enforceability of the Guarantee Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasingor any instrument or agreement evidencing any Guarantee Obligations, or renewing by the Guarantied Obligationsexistence, changing the interest ratevalidity, payment termsenforceability, perfection, non-perfection or extent of any collateral therefor, or by any fact or circumstance relating to the Guarantee Obligations which might otherwise constitute a defense to the obligations of the Company under this Guaranty (other terms than full payment and conditions thereofperformance), or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To and the maximum extent permitted by law, each Guarantor Company hereby irrevocably waives any right to revoke this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by Beneficiaries, (b) no such revocation shall apply defenses it may now have or hereafter acquire in any way relating to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocation, (d) no payment by any Guarantor, Borrower, or from any other source, prior to the date of such revocation, shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion all of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations of such Guarantor hereunderforegoing.

Appears in 3 contracts

Sources: Credit Agreement, Credit Agreement (Amazon Com Inc), Credit Agreement (Amazon Com Inc)

Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuingis an absolute, compromising, extending, increasing, modifying, releasing, or renewing unconditional and continuing guaranty of payment and performance of the Guarantied Obligations, changing and the interest rateobligations of the Guarantor hereunder shall not be released, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part, by any action or thing which might, but for this provision of this Guaranty, be deemed a legal or equitable discharge of a surety or guarantor, other than irrevocable payment and performance in full of the Obligations. To No notice of the maximum extent permitted by lawObligations to which this Guaranty may apply, each or of any renewal or extension thereof need be given to the Guarantor and none of the foregoing acts shall release the Guarantor from liability hereunder. The Guarantor hereby expressly waives any right to revoke this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written demand of payment, presentment, protest, notice thereof has been received by Beneficiariesof dishonor, nonpayment or nonperformance on any and all forms of the Obligations; (b) no such revocation shall apply notice of acceptance of this Guaranty and notice of any liability to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), which it may apply; (c) no such revocation shall apply to all other notices and demands of any Guarantied Obligations made or created after such date kind and description relating to the extent made Obligations now or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocationhereafter provided for by any agreement, statute, law, rule or regulation; and (d) no payment any and all defenses of the Borrower pertaining to the Obligations except for the defense of discharge by payment. The Guarantor shall not be exonerated with respect to the Guarantor's liabilities under this Guaranty by any Guarantoract or thing except irrevocable payment and performance of the Obligations, Borrowerit being the purpose and intent of this Guaranty that the Obligations constitute the direct and primary obligations of the Guarantor and that the covenants, agreements and all obligations of the Guarantor hereunder be absolute, unconditional and irrevocable. The Guarantor shall be and remain liable for any deficiency remaining after foreclosure of any mortgage, deed of trust or from security agreement securing all or any part of the Obligations, whether or not the liability of the Borrower or any other sourcePerson for such deficiency is discharged pursuant to statute, prior judicial decision or otherwise. The acceptance of this Guaranty by the Agent is not intended and does not release any liability previously existing of any guarantor or surety of any indebtedness of the Borrower to the date of such revocation, shall reduce Agent and the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations of such Guarantor hereunderBanks.

Appears in 3 contracts

Sources: Guaranty (Lecg Corp), Credit Agreement (Lecg Corp), Credit Agreement (Lecg Corp)

Continuing Guaranty. THIS GUARANTY IS AN ABSOLUTE, UNCONDITIONAL AND CONTINUING GUARANTEE. This Guaranty includes Guarantied extends to all Guaranteed Obligations arising under successive transactions continuingcontracted or owing by Borrower to Bank now and at any time prior to Bank's return of this Guaranty to Guarantor or the termination of this Guaranty pursuant to the provisions of this paragraph, compromisingeven though from time to time and for extended periods of time there may be no debt or obligation owed to Bank by Borrower. Subject to the following provisions, extending, increasing, modifying, releasing, or renewing Guarantor shall have the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke terminate this Guaranty as to future Indebtedness. If such a revocation is at any time effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that ten (a10) no such revocation shall be effective until days after receipt by Bank of written notice thereof has been received by Beneficiariesof Guarantor's intention to terminate this Guaranty. Such termination will not affect Guarantor's obligations with respect to, (b) no and this Guaranty will remain in full force and effect with respect to, all of the Guaranteed Obligations then due and owing or then contracted for or existing, whether or not yet due, at the time such revocation shall apply notice becomes effective, and all obligations described in paragraph 4.e. of this Guaranty, whether then existing or arising in the future, and also with respect to any Guarantied Obligations in existence on such date (including any subsequent continuationloans, extensionextensions of credit, or renewal thereof, or change in the interest rate, payment terms, or and other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocation, (d) no payment by any Guarantor, Borrower, or from any other sourcefinancial accommodations which, prior to the date effectiveness of such revocationnotice, shall reduce Bank may have committed to make to Borrower (regardless of whether Bank waives any default or condition precedent to the maximum obligation making of such Guarantor hereunderloans, extensions of credit, or other financial accommodations), together with all interest thereon and (e) any payment by Borrower or from any source other than all expenses, including costs of collection and attorneys' fees, with respect to such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Guaranteed Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations of such Guarantor hereunderthis Guaranty.

Appears in 3 contracts

Sources: Guaranty of Payment and Performance (Professional Transportation Group LTD Inc), Guaranty of Payment and Performance (Professional Transportation Group LTD Inc), Guaranty of Payment and Performance (U S Trucking Inc)

Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuingis an absolute, compromising, extending, increasing, modifying, releasing, or renewing unconditional and continuing guaranty of payment and performance of the Guarantied Obligations, changing and the interest rateobligations of the Guarantors hereunder shall not be released, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part, by any action or thing which might, but for this provision of this Guaranty, be deemed a legal or equitable discharge of a surety or guarantor, other than irrevocable payment and performance in full of the Obligations. To No notice of the maximum extent permitted by lawObligations to which this Guaranty may apply, each or of any renewal or extension thereof need be given to the Guarantors and none of the foregoing acts shall release the Guarantors from liability hereunder. Each Guarantor hereby expressly waives any right to revoke this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written demand of payment, presentment, protest, notice thereof has been received by Beneficiariesof dishonor, nonpayment or nonperformance on any and all forms of the Obligations; (b) no such revocation shall apply notice of acceptance of this Guaranty and notice of any liability to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), which it may apply; (c) no such revocation shall apply to all other notices and demands of any Guarantied Obligations made or created after such date kind and description relating to the extent made Obligations now or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocationhereafter provided for by any agreement, statute, law, rule or regulation; and (d) no payment any and all defenses of the Issuer pertaining to the Obligations except for the defense of discharge by payment. No Guarantor shall be exonerated with respect to such Guarantors’ liabilities under this Guaranty by any Guarantoract or thing except irrevocable payment and performance of the Obligations, Borrowerit being the purpose and intent of this Guaranty that the Obligations constitute the direct and primary obligations of each Guarantor and that the covenants, agreements and all obligations of the Guarantors hereunder be absolute, unconditional and irrevocable. Each Guarantor shall be and remain liable for any deficiency remaining after foreclosure of any mortgage, deed of trust or from security agreement securing all or any part of the Obligations, whether or not the liability of the Issuer or any other sourcePerson for such deficiency is discharged pursuant to statute, prior judicial decision or otherwise. The acceptance of this Guaranty by the Trustee and the Holders is not intended and does not release any liability previously existing of any guarantor or surety of any indebtedness of the Issuer to the date of such revocation, shall reduce Trustee and the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations of such Guarantor hereunderHolders.

Appears in 3 contracts

Sources: Guaranty (Vitesse Semiconductor Corp), Guaranty (Vitesse Semiconductor Sales Corp), Guaranty (Vitesse Semiconductor Corp)

Continuing Guaranty. This Limited Guaranty includes Guarantied Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, may not be revoked or renewing terminated and shall remain in full force and effect until all of the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Guaranteed Obligations have been satisfied indefeasibly paid in full. Notwithstanding the foregoing, or anything express or implied in this Limited Guaranty or otherwise, this Limited Guaranty shall terminate and the Guarantors shall have no further obligations under or in connection with this Limited Guaranty as of the earliest of: (i) the Effective Time, if the Closing occurs; (ii) termination of the Merger Agreement in accordance with its terms by mutual consent of the parties thereto or in circumstances where the Parent Termination Fee is not payable, the Damages Remedy is not available and there are no unpaid expense reimbursement or indemnification obligations pursuant to Section 5.5(b) of the Merger Agreement; (iii) the receipt by the Guaranteed Party of the payment in full of all of the Guaranteed Obligations payable under this Limited Guaranty; and (iv) the termination of the Merger Agreement pursuant to Section 7.1(b)(i) thereof (unless the Guaranteed Party shall have previously commenced litigation against the Guarantors under this Limited Guaranty, in which case this Limited Guaranty shall terminate upon the final, non-appealable resolution of such action and satisfaction by the Guarantors of any obligations finally determined or agreed to be owed by the Guarantors, consistent with the terms hereof). Upon such termination of this Limited Guaranty, no Guarantor shall have any further liability hereunder. Notwithstanding the foregoing, or anything express or implied in this Limited Guaranty or otherwise, in the event that the Guaranteed Party or any of its Affiliates asserts in any litigation or other proceeding that the provisions of Section 1 hereof limiting each Guarantor’s liability to its respective Cap or the provisions of this Section 7 or Section 8 hereof are illegal, invalid or unenforceable in whole or in part. To , asserts that any Guarantor is liable in respect of Guaranteed Obligations in excess of or to a greater extent than its Cap, or asserts any theory of liability against any Non-Recourse Party (as defined in Section 8 hereof) with respect to this Limited Guaranty, the maximum extent permitted Equity Funding Letters, the Rollover Letter, the Merger Agreement, any other agreement or instrument delivered in connection with this Limited Guaranty or the Merger Agreement, or the transactions contemplated hereby or thereby, other than Retained Claims (as defined in Section 8 hereof) asserted by lawthe Guaranteed Party against the Non-Recourse Party(ies) against which such Retained Claims may be asserted pursuant to Section 8, each then: (i) the obligations of the Guarantors under or in connection with this Limited Guaranty shall terminate ab initio and be null and void; (ii) if any Guarantor hereby waives has previously made any right to revoke payments under or in connection with this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiverLimited Guaranty, each Guarantor acknowledges and agrees that (a) no such revocation it shall be effective until written notice thereof has been received by Beneficiariesentitled to recover and retain such payments; and (iii) neither the Guarantors nor any other Non-Recourse Parties shall have any liability whatsoever (whether at law or in equity, whether sounding in contract, tort, statute or otherwise) to the Guaranteed Party or any other Person in any way under or in connection with this Limited Guaranty, the Merger Agreement, any other agreement or instrument delivered in connection with this Limited Guaranty or the Merger Agreement (b) no such revocation shall apply to any Guarantied Obligations in existence on such date (including any subsequent continuationincluding, extensionwithout limitation, the Equity Funding Letters and the Rollover Letter), or renewal thereof, the transactions contemplated hereby or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocation, (d) no payment by any Guarantor, Borrower, or from any other source, prior to the date of such revocation, shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations of such Guarantor hereunderthereby.

Appears in 3 contracts

Sources: Limited Guaranty, Limited Guaranty (Quest Software Inc), Limited Guaranty (Quest Software Inc)

Continuing Guaranty. 01Guaranty. Each Guarantor hereby absolutely and unconditionally, jointly and severally guarantees, as primary obligor and as a guaranty of payment and performance and not merely as a guaranty of collection, prompt payment when due, whether at stated maturity, by required prepayment, upon acceleration, demand or otherwise, and at all times thereafter, of any and all Obligations (for each Guarantor, subject to the proviso in this sentence, its “Guaranteed Obligations”); provided that the liability of each Guarantor individually with respect to this Guaranty shall be limited to an aggregate amount equal to the largest amount that would not render its obligations hereunder subject to avoidance under Section 548 of the Bankruptcy Code of the United States or any comparable provisions of any applicable state law. Without limiting the generality of the foregoing, the Guaranteed Obligations shall include any such indebtedness, obligations, and liabilities, or portion thereof, which may be or hereafter become unenforceable or compromised or shall be an allowed or disallowed claim under any proceeding or case commenced by or against any debtor under any Debtor Relief Laws. The Administrative Agent’s books and records showing the amount of the Obligations shall be admissible in evidence in any action or proceeding, and shall be binding upon each Guarantor, and conclusive for the purpose of establishing the amount of the Obligations. This Guaranty includes Guarantied shall not be affected by the genuineness, validity, regularity or enforceability of the Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasingor any instrument or agreement evidencing any Obligations, or renewing by the Guarantied Obligationsexistence, changing the interest ratevalidity, payment termsenforceability, perfection, non-perfection or extent of any collateral therefor, or other terms and conditions thereofby any fact or circumstance relating to the Obligations which might otherwise constitute a defense to the obligations of the Guarantors, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To the maximum extent permitted by lawany of them, under this Guaranty, and each Guarantor hereby irrevocably waives any right defenses it may now have or hereafter acquire in any way relating to revoke this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding any or all of the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by Beneficiaries, (b) no such revocation shall apply to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocation, (d) no payment by any Guarantor, Borrower, or from any other source, prior to the date of such revocation, shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion payment in full of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations of such Guarantor hereunderObligations).

Appears in 3 contracts

Sources: Credit Agreement (Advanced Energy Industries Inc), Credit Agreement (Advanced Energy Industries Inc), Credit Agreement (Advanced Energy Industries Inc)

Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future IndebtednessGuarantied Obligations. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by BeneficiariesAgent, (b) no such revocation shall apply to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries Agent in existence on the date of such revocation, (d) no payment by any Guarantor, Borrower, or from any other source, prior to the date of such revocation, revocation shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations obligation of such Guarantor hereunder.

Appears in 3 contracts

Sources: Credit Agreement (Ares Commercial Real Estate Corp), General Continuing Guaranty (Ares Commercial Real Estate Corp), General Continuing Guaranty (Ares Commercial Real Estate Corp)

Continuing Guaranty. (a) Each Guarantor hereby absolutely and unconditionally guarantees, as a guaranty of payment and performance and not merely as a guaranty of collection, prompt payment when due, whether at stated maturity, by required prepayment, upon acceleration, demand or otherwise, and at all times thereafter, of any and all of the Obligations, whether for principal, interest, premiums, fees, indemnities, damages, costs, expenses or otherwise, of each other Loan Party to the Guaranteed Parties, and whether arising hereunder or under any other Loan Document (including all renewals, extensions, amendments, refinancings and other modifications thereof and all costs, attorneys’ fees and expenses incurred by the Guaranteed Parties in connection with the collection or enforcement thereof, the “Guaranteed Obligations”). The Administrative Agent’s books and records showing the amount of the Guaranteed Obligations shall be admissible in evidence in any action or proceeding, and shall be binding upon each Guarantor, and conclusive absent manifest error for the purpose of establishing the amount of the Guaranteed Obligations. This Guaranty includes Guarantied shall not be affected by the genuineness, validity, regularity or enforceability of the Guaranteed Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasingor any instrument or agreement evidencing any Guaranteed Obligations, or renewing by the Guarantied Obligationsexistence, changing the interest ratevalidity, payment termsenforceability, perfection, non‑perfection or extent of any collateral therefor, or by any fact or circumstance relating to the Guaranteed Obligations which might otherwise constitute a defense to the obligations of any Guarantor under this Guaranty (other terms than full payment and conditions thereofperformance), and each Guarantor hereby irrevocably waives any defenses it may now have or creating new hereafter acquire in any way relating to any or additional Guarantied all of the foregoing. (b) Each Guarantor, and by its acceptance of this Guaranty, the Administrative Agent and each other Guaranteed Party, hereby confirms that it is the intention of all such Persons that this Guaranty and the Obligations after prior Guarantied of each Guarantor hereunder not constitute a fraudulent transfer or conveyance for purposes of Debtor Relief Law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar foreign, federal or state law to the extent applicable to this Guaranty and the Obligations have been satisfied in whole or in partof each Guarantor hereunder. To effectuate the foregoing intention, the Administrative Agent, the other Guaranteed Parties and the Guarantors hereby irrevocably agree that the Obligations of each Guarantor under this Guaranty at any time shall be limited to the maximum amount as will result in the Obligations of such Guarantor under this Guaranty not constituting a fraudulent transfer or conveyance. (c) Each Guarantor hereby unconditionally and irrevocably agrees that in the event any payment shall be required to be made to any Guaranteed Party under this Guaranty or any other guaranty, such Guarantor will contribute, to the maximum extent permitted by law, such amounts to each other Guarantor hereby waives any right to revoke this Guaranty and each other guarantor so as to future Indebtedness. If such a revocation is effective notwithstanding maximize the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by Beneficiaries, (b) no such revocation shall apply to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date aggregate amount paid to the extent made Guaranteed Parties under or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocation, (d) no payment by any Guarantor, Borrower, or from any other source, prior to the date of such revocation, shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion respect of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations of such Guarantor hereunderLoan Documents.

Appears in 3 contracts

Sources: Credit Agreement (Tiffany & Co), Subsidiary Guaranty (Tiffany & Co), Subsidiary Guaranty (Tiffany & Co)

Continuing Guaranty. This Guaranty includes Guarantied Guaranteed Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Guaranteed Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Guaranteed Obligations after prior Guarantied Guaranteed Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby absolutely, knowingly, unconditionally, and expressly waives and agrees not to assert any right it has under Section 2815 of the California Civil Code, or otherwise, to revoke this Guaranty as to future Indebtednessindebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by BeneficiariesBank, (b) no such revocation shall apply to any Guarantied Guaranteed Obligations in existence on such date (including including, any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Guaranteed Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries Bank in existence on the date of such revocation, (d) no payment by any Guarantor, Borrower, or from any other source, prior to the date of such revocation, revocation shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor Guarantor, subsequent to the date of such revocation revocation, shall first be applied to that portion of the Guarantied Guaranteed Obligations as to which the revocation is effective and which are not, therefore, guarantied guaranteed hereunder, and to the extent so applied shall not reduce the maximum obligations obligation of such Guarantor hereunder.

Appears in 2 contracts

Sources: Continuing Guaranty (Cherokee Inc), Continuing Guaranty (Cherokee Inc)

Continuing Guaranty. Assignments under the Term Loan Agreement. There are no conditions precedent to the effectiveness of this Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms is a continuing guaranty and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that shall: (a) remain in full force and effect, except with respect to any Guarantor released from its obligations hereunder pursuant to Section 10.01(e) of the Term Loan Agreement, until all Guaranteed Obligations (other than contingent reimbursement or indemnification obligations for which no claim has been made) are paid in full in immediately available funds and the Commitments are terminated (“Payment in Full”). Notwithstanding the foregoing, in the event that any payment by or on behalf of the Borrower or any Guarantor is made, or any Lender Party exercises its right of setoff, in respect of the Guaranteed Obligations and such revocation payment or the proceeds of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by any Lender Party in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any proceeding under any Debtor Relief Laws or otherwise, this Guaranty shall be effective until written notice thereof automatically revived and reinstated in full force and effect in respect of the amount of such payment or proceeds, all as if such payment had not been made or such setoff had not occurred and whether or not such Lender Party is in possession of or has been received by Beneficiariesreleased this Guaranty and regardless of any prior revocation, rescission, termination or reduction. The obligations of each Guarantor under this paragraph shall survive termination of this Guaranty; (b) no such revocation shall apply to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms be binding upon each Guarantor and conditions thereof), its successors and assigns; and (c) inure to the benefit of and be enforceable by the Administrative Agent, each Lender, and their respective successors, permitted transferees and permitted assigns, provided that, notwithstanding anything contained in this Guaranty to the contrary, no beneficiary of this Guaranty other than the Administrative Agent shall have any right individually to enforce this Guaranty, it being understood and agreed that all powers, rights and remedies hereunder may be exercised solely by the Administrative Agent on behalf of the beneficiaries hereof in accordance with the terms hereof. By accepting the benefit of this Guaranty, each such revocation shall apply beneficiary agrees to the terms of this subsection (c). Without limiting the generality of the foregoing clause (c), subject to Section 10.06 of the Term Loan Agreement, any Guarantied Obligations made Lender Party may assign or created after such date otherwise transfer all or any portion of its rights and obligations under the Term Loan Agreement to the extent made permitted thereby (including, without limitation, all or created pursuant any portion of its Commitment, the Loans owing to a legally binding commitment of Beneficiaries in existence on it and the date of such revocation, (dNote or Notes held by it) no payment by any Guarantor, Borrower, or from to any other sourcePerson, prior and such other Person shall thereupon become vested with all the benefits in respect thereof granted to such Lender herein or otherwise, subject, however, in all respects to the date provisions of the Term Loan Agreement. Each Guarantor acknowledges that upon any Person becoming a Lender or the Administrative Agent in accordance with the Term Loan Agreement, such revocation, Person shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor subsequent be entitled to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations of such Guarantor hereunderbenefits hereof.

Appears in 2 contracts

Sources: Guaranty Agreement (EnLink Midstream Partners, LP), Guaranty Agreement (EnLink Midstream, LLC)

Continuing Guaranty. This Limited Guaranty includes Guarantied may not be revoked or terminated and shall remain in full force and effect and shall be binding on each Guarantor, its successors and permitted assigns until the payment and satisfaction in full of the Obligations arising of such Guarantor (up to such Guarantor’s Per Claim Cap and Individual Cap). Notwithstanding the foregoing, this Limited Guaranty shall terminate and the Guarantors shall have no further obligations under successive transactions continuingthis Limited Guaranty as of the earliest to occur of (i) the consummation of the Closing, compromising(ii) the termination of the Merger Agreement in accordance with its terms under circumstances in which the Buyer would not be obligated to pay the Buyer Termination Fee and (iii) the six-month anniversary of any termination of the Merger Agreement in accordance with its terms under circumstances in which the Buyer would be obligated to pay the Buyer Termination Fee if the Guaranteed Party has not presented a claim for payment of any Obligations to the Buyer or any Guarantor by such six-month anniversary (or, extendingif the Guaranteed Party has made a claim under this Limited Guaranty prior to such date, increasingthen the earliest of (w) a final, modifying, releasing, or renewing non-appealable Order resolving such claim determining that the Guarantied Buyer does not have any liability to TGE that gives rise to Obligations, changing (x) payment of the interest rateamounts due and owing in respect of the Obligations as determined in a final, non-appealable Order resolving such claim and (y) a written agreement among the Guarantors and the Guaranteed Party terminating the obligations of the Guarantors pursuant to this Limited Guaranty), and (iv) payment termsof the Obligations (subject to the Cap and each Guarantor’s Per Claim Cap and Individual Cap, as applicable). Notwithstanding the foregoing, in the event that the Guaranteed Party or any of its Affiliates or their respective successors and assigns asserts in any litigation or other terms and conditions thereofproceeding that the provisions of Section 1 hereof limiting any Guarantor’s liability to such Guarantor’s Per Claim Cap or Individual Cap, as applicable (or creating new limiting the aggregate liability of the Guarantors to the Cap) or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied that any other provisions of this Limited Guaranty are illegal, invalid or unenforceable in whole or in part. To part in accordance with its terms, or asserts any theory of liability against any Guarantor or any Non-Recourse Party with respect to the maximum transactions contemplated by the Merger Agreement other than (a) liability of any Guarantor under this Limited Guaranty (as limited by the provisions of Section 1 hereof) or (b) to the extent permitted by lawSection 4 of the Equity Commitment Letter, each then (i) the obligations of the Guarantors under this Limited Guaranty shall terminate ab initio and shall thereupon be null and void, (ii) if any Guarantor hereby waives has previously made any right to revoke payments under this Guaranty as to future Indebtedness. If Limited Guaranty, such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by Beneficiaries, (b) no entitled to recover such revocation shall apply to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in payments from the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocation, (d) no payment by any Guarantor, Borrower, or from any other source, prior to the date of such revocation, shall reduce the maximum obligation of such Guarantor hereunderGuaranteed Party, and (eiii) no Guarantor or any payment by Borrower or from Non-Recourse Parties shall have any source other than such Guarantor subsequent liability to the date Guaranteed Party or any of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and its Affiliates with respect to the extent so applied shall not reduce Merger Agreement, the maximum obligations of such Guarantor hereunderEquity Commitment Letter, the transactions contemplated by the Merger Agreement or under this Limited Guaranty.

Appears in 2 contracts

Sources: Limited Guaranty (Blackstone Holdings III L.P.), Limited Guaranty (Enagas U.S.A. LLC)

Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future IndebtednessGuarantied Obligations. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by BeneficiariesAgent, (b) no such revocation shall apply to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries Agent in existence on the date of such revocation, (d) no payment by any Guarantor, any Borrower, or from any other source, prior to the date of such revocation, revocation shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower Borrowers or from any source other than such Guarantor the Guarantors subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations obligation of such Guarantor the Guarantors hereunder.

Appears in 2 contracts

Sources: General Continuing Guaranty (Monotype Imaging Holdings Inc.), General Continuing Guaranty (Monotype Imaging Holdings Inc.)

Continuing Guaranty. This Guaranty includes Guarantied Guaranteed Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Guaranteed Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Guaranteed Obligations after prior Guarantied Guaranteed Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future Indebtednessindebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by BeneficiariesFoothill, (b) no such revocation shall apply to any Guarantied Guaranteed Obligations in existence on such date (including including, any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Guaranteed Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries Foothill in existence on the date of such revocation, (d) no payment by any Guarantor, a Borrower, or from any other source, prior to the date of such revocation, revocation shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by a Borrower or from any source other than such Guarantor Guarantor, subsequent to the date of such revocation revocation, shall first be applied to that portion of the Guarantied Guaranteed Obligations as to which the revocation is effective and which are not, therefore, guarantied guaranteed hereunder, and to the extent so applied shall not reduce the maximum obligations obligation of such Guarantor hereunder.

Appears in 2 contracts

Sources: Continuing Guaranty (Leisure Time Casinos & Resorts Inc), Continuing Guaranty (Leisure Time Casinos & Resorts Inc)

Continuing Guaranty. This Guaranty includes Guarantied Guaranteed Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Guaranteed Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Guaranteed Obligations after prior Guarantied Guaranteed Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future IndebtednessGuaranteed Obligations. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by BeneficiariesAgent, (b) no such revocation shall apply to any Guarantied Guaranteed Obligations in existence on the date of receipt by Agent of such date written notice (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Guaranteed Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries the Lender Group in existence on the date of such revocation, (d) no payment by any Guarantor, Borrower, or from any other source, prior to the date of Agent’s receipt of written notice of such revocation, revocation shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Guaranteed Obligations as to which the revocation is effective and which are not, therefore, guarantied Guaranteed hereunder, and to the extent so applied shall not reduce the maximum obligations obligation of such Guarantor hereunder.

Appears in 2 contracts

Sources: Guaranty Agreement (Whitehall Jewelers Holdings, Inc.), Guaranty Agreement (Whitehall Jewelers Holdings, Inc.)

Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future IndebtednessObligations. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by BeneficiariesAgent, (b) no such revocation shall apply to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries Agent in existence on the date of such revocation, (d) no payment by any Guarantor, Borrower, or from any other source, prior to the date of such revocation, revocation shall reduce the maximum obligation of such any Guarantor hereunder, and (e) any payment by Borrower or from any source other than such a Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations obligation of such any Guarantor hereunder.

Appears in 2 contracts

Sources: General Continuing Guaranty (Hawaiian Holdings Inc), General Continuing Guaranty (Hawaiian Holdings Inc)

Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future IndebtednessGuarantied Obligations, except as expressly set forth at Section 2(c) of this Guaranty. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that that (a) no such revocation shall be effective until written notice thereof has been received by Beneficiaries, Trustee, (b) no such revocation shall apply to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), , (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries Trustee in existence on the date of such revocation, , (d) no payment by any Guarantor, BorrowerCTI, or from any other source, prior to the date of such revocation, revocation shall reduce the maximum obligation of such Guarantor hereunder, and and (e) any payment by Borrower CTI or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations obligation of such Guarantor hereunder.

Appears in 2 contracts

Sources: Convertible Debenture Indenture (Crailar Technologies Inc), Convertible Debenture Indenture (Crailar Technologies Inc)

Continuing Guaranty. Guaranty . Each Guarantor, jointly and severally with the other Guarantors, hereby absolutely, irrevocably and unconditionally guarantees, as a guaranty of payment and performance and not merely as a guaranty of collection, prompt payment when due, whether at stated maturity, by required prepayment, upon acceleration, demand or otherwise, and at all times thereafter, of any and all of the Obligations, whether for principal, interest, premiums, fees, indemnities, damages, costs, expenses or otherwise, and whether arising hereunder or under any other Loan Document (including all renewals, extensions, amendments, refinancings and other modifications thereof and all reasonable and documented out-of-pocket costs, attorneys’ fees and expenses incurred in connection with the collection or enforcement thereof) (for each Guarantor, subject to the proviso in this sentence, its “Guaranteed Obligations”); provided, that the liability of each Guarantor individually with respect to this Guaranty shall be limited to an aggregate amount equal to the largest amount (taking into account any amounts payable to such Guarantor under Section 10.10) that would not render its obligations hereunder subject to avoidance under Section 548 of the Bankruptcy Code of the United States or any comparable provisions of any applicable state law. The Administrative Agent’s books and records showing the amount of the Obligations shall be admissible in evidence in any action or proceeding, and shall be binding upon the Guarantors, and conclusive for the purpose of establishing the amount of the Guaranteed Obligations, absent demonstrable error. This Guaranty includes Guarantied shall not be affected by the genuineness, validity, regularity or enforceability of the Guaranteed Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasingor any instrument or agreement evidencing any Guaranteed Obligations, or renewing by the Guarantied Obligationsexistence, changing the interest ratevalidity, payment termsenforceability, perfection, non-perfection or extent of any collateral therefor, or other terms by any fact or circumstance relating to the Guaranteed Obligations which might otherwise constitute a defense to the obligations of any Guarantor under this Guaranty, and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby irrevocably waives any right to revoke this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by Beneficiaries, (b) no such revocation shall apply defenses it may now have or hereafter acquire in any way relating to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocation, (d) no payment by any Guarantor, Borrower, or from any other source, prior to the date of such revocation, shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion all of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations of such Guarantor hereunderforegoing.

Appears in 2 contracts

Sources: Credit Agreement (Getty Realty Corp /Md/), Credit Agreement (Getty Realty Corp /Md/)

Continuing Guaranty. This Guaranty includes Guarantied ------------------- Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by BeneficiariesGuarantied Party, (b) no such revocation shall apply to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries Guarantied Party in existence on the date of such revocation, (d) no payment by any Guarantor, BorrowerDebtor, or from any other source, prior to the date of such revocation, revocation shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower Debtor or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations obligation of such Guarantor hereunder.

Appears in 2 contracts

Sources: General Continuing Guaranty (Sm&a Corp), General Continuing Guaranty (Sm&a Corp)

Continuing Guaranty. This Guaranty includes includes, but is not limited to, Guarantied Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future IndebtednessGuarantied Obligations. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by BeneficiariesLender, (b) no such revocation shall apply to any Guarantied Obligations in existence on the date of receipt by Lender of such date written notice (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment agreement of Beneficiaries Lender in existence on the date of such revocation, (d) no payment by any Guarantor, Borrower, or from any other source, prior to the date of Lender’s receipt of written notice of such revocation, revocation shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations obligation of such Guarantor hereunder.

Appears in 2 contracts

Sources: General Continuing Guaranty (Nexaira Wireless Inc.), General Continuing Guaranty (Nexaira Wireless Inc.)

Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, discount rate, any charge or fee, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future IndebtednessGuarantied Obligations. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that that, to the fullest extent permitted by applicable law, (a) no such revocation shall be effective until written notice thereof has been received by BeneficiariesLender, (b) no such revocation shall apply to any Guarantied Obligations in existence on the date of receipt by Lender of such date written notice (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries Lender in existence on the date of such revocation, (d) no payment by any Guarantor, Borrower, or from any other source, prior to the date of Lender’s receipt of written notice of such revocation, revocation shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations obligation of such Guarantor hereunder.. 

Appears in 2 contracts

Sources: General Continuing Guaranty, General Continuing Guaranty (Micron Solutions Inc /De/)

Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future IndebtednessGuarantied Obligations. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by BeneficiariesSecured Parties, (b) no such revocation shall apply to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries Secured Parties in existence on the date of such revocation, (d) no payment by any Guarantor, Borrower, or from any other source, prior to the date of such revocation, shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations of such Guarantor hereunder.

Appears in 2 contracts

Sources: Credit Agreement (Deckers Outdoor Corp), Credit Agreement (Deckers Outdoor Corp)

Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by BeneficiariesLender, (b) no such revocation shall apply to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries Lender in existence on the date of such revocation, (d) no payment by any Guarantor, Borrower, or from any other source, prior to the date of such revocation, revocation shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations obligation of such Guarantor hereunder.

Appears in 2 contracts

Sources: Guaranty (Schlotzskys Inc), General Continuing Guaranty (Velocity Asset Management Inc)

Continuing Guaranty. (a) This Guaranty includes Guarantied Obligations arising shall be enforceable against each of the Guarantors without the necessity for any suit or proceedings on Landlord's part of any kind or nature whatsoever against Tenant, and without the necessity of any notice of nonpayment or nonperformance (except as may be required under successive transactions continuing, compromising, extending, increasing, modifying, releasingthe Lease), or renewing the Guarantied Obligationsnonobservance of any notice of acceptance of this Guaranty or of any other notice of demand to which each Guarantor might otherwise be entitled, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, all of which each Guarantor hereby waives any right to revoke expressly waives; and each of the Guarantors hereby expressly agrees that the validity of this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding and the foregoing waiver, obligations of each Guarantor acknowledges and agrees that (a) no such revocation hereunder shall in nowise be effective until written notice thereof has been received terminated, affected, diminished or impaired by Beneficiaries, reason of the assertion or the failure to assert by Landlord against Tenant of any of the rights or remedies reserved to Landlord pursuant to the provisions of the Lease. (b) This Guaranty shall be a continuing Guaranty, and the liability of each Guarantor hereunder shall in no way be affected, modified or diminished by reason of any assignment by Tenant, or by reason of any dealings or transactions or matter or thing occurring between Landlord and Tenant, or by reason of any bankruptcy, insolvency, reorganization, arrangement, assignment for the benefit of creditors, receivership or trusteeship affecting Tenant, whether or not notice thereof or of any thereof is given to Guarantors. Guarantors agree that, in the event of the rejection or disaffirmance of the Lease by Tenant or Tenant's trustee in bankruptcy pursuant to bankruptcy law or any other law affecting creditor rights, Guarantors shall, if Landlord so requests, select one of the Guarantors, reasonably satisfactory to Landlord, to have all of the rights and obligations of Tenant under the Lease and such Guarantor shall assume all obligations and liabilities of Tenant under the Lease, to the same extent as if such Guarantor had become originally named instead of Tenant as a party to such document and there had been no such revocation rejection or disaffirmance, and such Guarantor shall apply to any Guarantied Obligations affirm such assumption in existence on writing at the request of Landlord upon or after such date (including any subsequent continuationrejection or disaffirmance. Such Guarantor, extensionupon such assumption, or renewal thereof, or change in shall have all rights of Tenant under the interest rate, payment terms, or other terms and conditions thereof), Lease. (c) no such revocation Each Guarantor hereby consents that the obligations and liabilities of Tenant under the Lease may, from time to time, be renewed, extended, amended, modified, compromised, released or waived by Landlord, all without notice to or assent by Guarantors, and each Guarantor shall apply to any Guarantied Obligations made remain bound hereunder in respect of the obligations of Tenant under the Lease as same shall have been renewed, extended, modified, compromised, released or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocation, (d) no payment by any waived. A Guarantor, Borrower, or from any other source, prior to the date of such revocation, 's obligations hereunder shall reduce the maximum obligation of not terminate notwithstanding that such Guarantor hereunder, and (e) any payment by Borrower has transferred its interest in Tenant to another entity or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations of such Guarantor hereunderperson.

Appears in 2 contracts

Sources: Guaranty (Caterair International Inc /Ii/), Guaranty (Caterair International Inc /Ii/)

Continuing Guaranty. This Guaranty includes Guarantied Guaranteed Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Guaranteed Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Guaranteed Obligations after prior Guarantied Guaranteed Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future Indebtednessindebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by BeneficiariesFoothill, (b) no such revocation shall apply to any Guarantied Guaranteed Obligations in existence on such date (including including, any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Guaranteed Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries Foothill in existence on the date of such revocation, (d) no payment by any Guarantor, a Borrower, or from any other source, prior to the date of such revocation, revocation shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor Guarantor, subsequent to the date of such revocation revocation, shall first be applied to that portion of the Guarantied Guaranteed Obligations as to which the revocation is effective and which are not, therefore, guarantied guaranteed hereunder, and to the extent so applied shall not reduce the maximum obligations obligation of such Guarantor hereunder.

Appears in 2 contracts

Sources: Continuing Guaranty (Leisure Time Casinos & Resorts Inc), Continuing Guaranty (Leisure Time Casinos & Resorts Inc)

Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part10. To the maximum extent permitted by law, each 01Guaranty. Each Guarantor hereby waives absolutely and unconditionally, jointly and severally guarantees, as primary obligor and as a guaranty of payment and performance and not merely as a guaranty of collection, prompt payment when due, whether at stated maturity, by required prepayment, upon acceleration, demand or otherwise, and at all times thereafter, of any right and all Secured Obligations (for each Guarantor, subject to revoke the proviso in this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiversentence, each Guarantor acknowledges and agrees its “Guaranteed Obligations”); provided that (a) no the Guaranteed Obligations of a Guarantor shall exclude any Excluded Swap Obligations with respect to such revocation shall be effective until written notice thereof has been received by Beneficiaries, Guarantor and (b) no the liability of each Guarantor individually with respect to this Guaranty shall be limited to an aggregate amount equal to the largest amount that would not render its obligations hereunder subject to avoidance under Section 548 of the Bankruptcy Code of the United States or any comparable provisions of any applicable state law. Without limiting the generality of the foregoing, the Guaranteed Obligations shall include any such revocation indebtedness, obligations, and liabilities, or portion thereof, which may be or hereafter become unenforceable or compromised or shall apply be an allowed or disallowed claim under any proceeding or case commenced by or against any debtor under any Debtor Relief Laws. The Administrative Agent’s books and records showing the amount of the Obligations shall be admissible in evidence in any action or proceeding, and shall be binding upon each Guarantor, and conclusive for the purpose of establishing the amount of the Secured Obligations. This Guaranty shall not be affected by the genuineness, validity, regularity or enforceability of the Secured Obligations or any instrument or agreement evidencing any Secured Obligations, or by the existence, validity, enforceability, perfection, non-perfection or extent of any collateral therefor, or by any fact or circumstance relating to the Secured Obligations which might otherwise constitute a defense to the obligations of the Guarantors, or any of them, under this Guaranty, and each Guarantor hereby irrevocably waives any defenses it may now have or hereafter acquire in any way relating to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocation, (d) no payment by any Guarantor, Borrower, or from any other source, prior to the date of such revocation, shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion all of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations of such Guarantor hereunderforegoing.

Appears in 2 contracts

Sources: Credit Agreement (TopBuild Corp), Credit Agreement (Lulu's Fashion Lounge Holdings, Inc.)

Continuing Guaranty. This Guaranty includes Guarantied (a) WII guarantees that the Guaranteed Obligations arising under successive transactions continuingshall be paid strictly in accordance with the terms of this Agreement and the other Loan Documents; provided that if payment in respect of any Guaranteed Obligations shall be due in a currency other than Dollars and if, compromisingby reason of any legal prohibition, extendingdisruption of currency or foreign exchange markets, increasing, modifying, releasing, war or renewing the Guarantied Obligations, changing the interest ratecivil disturbance or other event, payment termsof such Guaranteed Obligations in such currency shall be impossible or, in the reasonable judgment of the Administrative Agent or other terms any Lender, not consistent with the protection of its rights or interests, then, at the election of the Administrative Agent or such Lender, WII shall make payment of the Dollar Equivalent of such Guaranteed Obligations and conditions thereofshall indemnify the Administrative Agent or such Lender against any losses or expenses (including losses or expenses resulting from fluctuations in exchange rates) that it shall sustain as a result of such alternative payment. WII agrees that, to the maximum extent permitted by applicable law, the Guaranteed Obligations and Loan Documents to which any Borrower is a party may be extended or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied renewed, and indebtedness thereunder repaid and reborrowed in whole or in part, without notice to or assent by WII, and that WII shall remain bound upon this Guaranty notwithstanding any extension, renewal or other alteration of any of the Guaranteed Obligations or such Loan Documents or any repayment and reborrowing of Loans to the Borrowers. The obligations of WII under this Guaranty are absolute and unconditional irrespective of the value, genuineness, validity, regularity or enforceability of the obligations of the Borrowers under this Agreement or any other Loan Document or any substitution, release or exchange of any other guarantee of or security for the Obligations. To the maximum extent permitted by applicable law, each Guarantor hereby waives except as otherwise expressly provided in this Agreement or any right other Loan Document to revoke which WII is a party, the obligations of WII under this Guaranty as shall be absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms hereof under any circumstances whatsoever, including: (i) any modification, amendment, supplement, renewal, extension for any period, increase, decrease, alteration or rearrangement of all or any part of the Guaranteed Obligations, or of this Agreement or any other Loan Document executed in connection herewith, or any contract or understanding among the Borrowers, the Administrative Agent, the Issuing Bank and/or the Lenders, or any other Person, pertaining to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiverGuaranteed Obligations; (ii) any adjustment, each Guarantor acknowledges and agrees indulgence, forbearance or compromise that might be granted or given by the Lenders to WII, any Borrower or any other Person liable on the Guaranteed Obligations; (iii) the insolvency, bankruptcy, arrangement, adjustment, composition, liquidation, disability, dissolution or lack of power of WII, any Borrower or any other Person at any time liable for the payment of all or part of the Guaranteed Obligations; or any dissolution or winding up of WII or any Borrower, or any sale, lease or transfer of any or all of the assets of WII or any Borrower, or any changes in the shareholders of WII or any Borrower, or any reorganization of WII or any Borrower; (iv) the invalidity, illegality or unenforceability of all or any part of the Guaranteed Obligations, or any document or agreement executed in connection with the Guaranteed Obligations, for any reason whatsoever, including the fact that (aA) no such revocation shall be effective until written notice the Guaranteed Obligations, or any part thereof, exceed the amount permitted by law, (B) the act of creating the Guaranteed Obligations, or any part thereof is ultra v▇▇▇▇, (C) the officers or representatives executing the documents or otherwise creating the Guaranteed Obligations acted in excess of their authority, (D) the Guaranteed Obligations or any part thereof violate applicable usury laws, (E) WII or any Borrower has valid defenses, claims, and offsets (whether at law or in equity, by agreement or by statute) which render the Guaranteed Obligations wholly or partially uncollectible from WII or any Borrower, (F) the creation, performance, or repayment of the Guaranteed Obligations (or execution, delivery and performance of any document or instrument representing any part of the Guaranteed Obligations or executed in connection with any of the Guaranteed Obligations, or given to secure the repayment of the Guaranteed Obligations) is illegal, uncollectible, legally impossible or unenforceable, or (G) this Agreement, any other Loan Document, or any other document or instrument pertaining to any of the Guaranteed Obligations has been received by Beneficiaries, forged or otherwise is irregular or not genuine or authentic; (bv) no such revocation shall apply to any Guarantied full or partial release of the liability of WII or any Borrower on the Guaranteed Obligations in existence on such date (including or any subsequent continuation, extension, or renewal part thereof, or change any other Person now or hereafter liable, whether directly or indirectly, jointly, severally, or jointly and severally, to pay, perform, guarantee, or assure the payment of the Guaranteed Obligations or any part thereof; it being recognized, acknowledged, and agreed by WII that WII may be required to pay the Guaranteed Obligations in full without assistance or support of any other Person, and that WII has not been induced to enter into this Guaranty on the interest ratebasis of a contemplation, payment termsbelief, understanding or agreement that any other Person shall be liable to perform the Guaranteed Obligations or that the Administrative Agent or any Lender shall look to any other Person to perform the Guaranteed Obligations; (vi) the taking or accepting of any other security, collateral or guaranty, or other terms and conditions thereof)assurance of payment, for all or any part of the Guaranteed Obligations; (cvii) no any release, surrender, exchange, subordination, deterioration, waste, loss or impairment of any collateral, property or security, at any time existing in connection with, or assuring or securing payment of, all or any part of the Guaranteed Obligations; (viii) the failure of the Administrative Agent, the Lenders, the Issuing Bank or any other Person to exercise diligence or reasonable care in the preservation, protection, enforcement, sale or other handling or treatment of all or any part of such revocation collateral, property or security; (ix) the fact that any collateral, security or Lien contemplated or intended to be given, created or granted as security for the repayment of the Guaranteed Obligations shall apply not be properly perfected or created, or shall prove to be unenforceable or subordinate to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries other Lien; it being recognized and agreed by WII that WII is not entering into this Guaranty in existence on the date of such revocation, (d) no payment by any Guarantor, Borrowerreliance on, or from in contemplation of the benefits of, the validity, enforceability, collectibility or value of any other source, prior to of the date of such revocation, shall reduce collateral for the maximum obligation of such Guarantor hereunder, and Guaranteed Obligations; (ex) any payment by any Borrower or from any source other than such Guarantor subsequent WII to the date Administrative Agent or any Lender is held to constitute a preference under bankruptcy or insolvency laws, or for any other reason either the Administrative Agent or any Lender is required to refund such payment or pay such amount to any Borrower, WII or any other Person; or (xi) any other action taken or omitted to be taken with respect to this Agreement, any other Loan Document, the Guaranteed Obligations, or the security and collateral therefor, whether or not such action or omission prejudices WII or increases the likelihood that WII shall be required to pay the Guaranteed Obligations pursuant to the terms hereof; it being the unambiguous and unequivocal intention of such revocation WII that WII shall first be applied obligated to that portion pay the Guaranteed Obligations when due, notwithstanding any occurrence, circumstance, event, action, or omission whatsoever, whether contemplated or uncontemplated, and whether or not otherwise or particularly described herein, except for the full and final payment and satisfaction of the Guarantied Guaranteed Obligations after the termination of all of the Commitments. (b) WII further agrees that, to the fullest extent permitted by law, as between WII, or the one hand, and the Lenders and the Administrative Agent, on the other hand, (i) the maturity of the Obligations may be accelerated as provided in Section 9.01 for the purposes of this Guaranty, notwithstanding any stay, injunction or other prohibition preventing the acceleration of the Obligations as to which against any Borrower and (ii) in the revocation is effective event of any purported acceleration (whether by declaration or automatic) of the Obligations as provided in Section 9.01, the Obligations (whether or not due and which are not, therefore, guarantied hereunder, payable) shall forthwith become due and to payable by WII for the extent so applied shall not reduce the maximum obligations purpose of such Guarantor hereunderthis Guaranty.

Appears in 2 contracts

Sources: Credit Agreement (Weatherford International LTD), Credit Agreement (Weatherford International LTD)

Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by BeneficiariesAgent, (b) no such revocation shall apply to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries Agent in existence on the date of such revocation, (d) no payment by any Guarantor, Borrower, or from any other source, prior to the date of such revocation, revocation shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are is not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations obligation of such Guarantor hereunder.

Appears in 2 contracts

Sources: General Continuing Guaranty (Hudson Respiratory Care Inc), General Continuing Guaranty (Hudson Respiratory Care Inc)

Continuing Guaranty. This Guaranty includes Guarantied ------------------- Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by BeneficiariesGuarantied Party, (b) no such revocation shall apply to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries Guarantied Party in existence on the date of such revocation, and (d) no payment by any Guarantor, Borrower, or from any other source, prior to the date of such revocation, shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower Debtor or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations obligation of such Guarantor hereunder.

Appears in 2 contracts

Sources: General Continuing Guaranty (Koo Koo Roo Entertprises Inc), General Continuing Guaranty (Family Restaurants)

Continuing Guaranty. This Guaranty includes Guarantied ------------------- Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by BeneficiariesGuarantied Party, (b) no such revocation shall apply to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries Guarantied Party in existence on the date of such revocation, and (d) no payment by any Guarantor, Borrower, or from any other source, prior to the date of such revocation, shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower Debtor or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations obligation of such Guarantor hereunder. The foregoing notwithstanding, this Guaranty will terminate at such time as FRI-MRD Corporation, a Delaware corporation, no longer owns any Stock of Guarantor.

Appears in 2 contracts

Sources: General Continuing Guaranty (Koo Koo Roo Entertprises Inc), General Continuing Guaranty (Family Restaurants)

Continuing Guaranty. (a) This Guaranty includes Guarantied Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing and the Guarantied Obligations, changing obligations of the interest rate, payment terms, or other terms Guarantor hereunder shall be continuing and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied irrevocable until the Obligations have been satisfied in whole full. Notwithstanding the foregoing or anything else set forth herein, and in partaddition thereto, if at any time all or any part of any payment received by the Class B Special Limited Partner [or the Housing Authority] from a Guarantor under or with respect to this Guaranty is or must be rescinded or returned for any reason whatsoever (including, but not limited to, determination that said payment was an avoidable preference or fraudulent transfer under insolvency, bankruptcy or reorganization laws), then Guarantor’s obligations hereunder shall, to the extent of the payment rescinded or returned, be deemed to have continued in existence, notwithstanding such previous receipt of payment by the Class B Special Limited Partner [or the Housing Authority, as the case may be,] and Guarantor’s obligations hereunder shall continue to be effective or be reinstated as to such payment, all as though such previous payment to the Class B Special Limited Partner had never been made. To The provisions of the maximum extent permitted by lawforegoing sentence shall survive termination of this Guaranty, and shall remain a valid and binding obligation of each Guarantor hereby waives any right to revoke this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by Beneficiaries, satisfied. (b) no such revocation shall apply The Class B Special Limited Partner, in its sole discretion, and subject to the terms and conditions of the Partnership Agreement, may at any Guarantied Obligations time enter into agreements to amend, modify or change the Addendum or any document or agreement relating in existence on such date (including any subsequent continuation, extension, or renewal way to the terms and provisions thereof, or change in may at any time waive or release any provision or provisions thereof and, with reference thereto, may make and enter into all such agreements as the interest rateClass B Special Limited Partner may deem proper or desirable, payment terms, without any notice or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocation, (d) no payment by any Guarantor, Borrower, or further assent from any other source, prior to the date of such revocation, shall reduce the maximum obligation of such Guarantor hereunder, and (e) without in any payment by Borrower manner impairing or from affecting this Guaranty or any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which rights of [the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum each] Guarantor’s obligations of such Guarantor hereunder.

Appears in 2 contracts

Sources: Addendum to Amended and Restated Agreement of Limited Partnership, Addendum to Amended and Restated Agreement of Limited Partnership

Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuingIn order to induce the Lenders and the L/C Issuers to make Credit Extensions to the Borrowers and to induce the Secured Parties to enter into Secured Lender Arrangements, compromisingthe Company hereby absolutely, extendingunconditionally and irrevocably, increasing, modifying, releasing, or renewing for the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, benefit of each Guarantor hereby waives any right to revoke this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that Secured Party: (a) no guarantees the full and punctual payment when due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise, of all Obligations of each other Loan Party now or hereafter existing, whether for principal, interest (including interest accruing at the then Applicable Rate as provided in this Agreement after the occurrence of any Default set forth in Section 8.01(e) or Section 8.01(f), whether or not a claim for post-filing or post-petition interest is allowed under applicable Law following the institution of a proceeding under any Debtor Relief Law), fees, reimbursement obligations with respect to Letters of Credit or otherwise, expenses or otherwise (including all such revocation shall be effective until written notice thereof has been received by Beneficiaries, amounts which would become due but for the operation of the automatic stay under Section 362(a) of the United States Bankruptcy Code (11 U.S.C. §362(a)) and the operation of Sections 502(b) and 506(b) of the United States Bankruptcy Code (11 U.S.C. §502(b) and §506(b)) or similar provisions under any other Debtor Relief Laws); and (b) no such revocation shall apply to indemnifies and holds harmless each Secured Party for any Guarantied Obligations in existence on such date and all costs and expenses (including reasonable attorneys’ fees and expenses) incurred by such Secured Party in enforcing any subsequent continuationrights under this guaranty; provided that the Company shall only be liable under this guaranty for the maximum amount of such liability that can be hereby incurred without rendering this guaranty, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date as it relates to the extent made Company, voidable under applicable Law relating to fraudulent conveyance or created pursuant to fraudulent transfer, and not for any greater amount. This guaranty constitutes a legally binding commitment guaranty of Beneficiaries in existence on payment when due and not of collection, and the date of such revocationCompany specifically agrees that it shall not be necessary or required that any Secured Party exercise any right, (d) no payment by assert any Guarantor, Borrower, claim or from demand or enforce any remedy whatsoever against any other source, prior Loan Party or any other Person before or as a condition to the date of such revocation, shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion obligations of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations of such Guarantor Company hereunder.

Appears in 2 contracts

Sources: Credit Agreement (Greif Inc), Credit Agreement (Greif Inc)

Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, discount rate, any charge or fee, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future IndebtednessGuarantied Obligations. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by BeneficiariesWFB, (b) no such revocation shall apply to any Guarantied Obligations in existence on the date of receipt by WFB of such date written notice (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries WFB in existence on the date of such revocation, (d) no payment by any Guarantor, BorrowerClient, or from any other source, prior to the date of WFB’s receipt of written notice of such revocation, revocation shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower Client or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations obligation of such Guarantor hereunder.

Appears in 2 contracts

Sources: General Continuing Guaranty (Novume Solutions, Inc.), General Continuing Guaranty (Novume Solutions, Inc.)

Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future IndebtednessGuarantied Obligations. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by BeneficiariesAgent, (b) no such revocation shall apply to any Guarantied Obligations in existence on the date of receipt by Agent of such date written notice (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries the Purchaser Group in existence on the date of such revocation, (d) no payment by any Guarantor, BorrowerCompany, or from any other source, prior to the date of Agent’s receipt of written notice of such revocation, revocation shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower Company or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations obligation of such Guarantor hereunder.

Appears in 1 contract

Sources: Securities Purchase Agreement (RXi Pharmaceuticals Corp)

Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuingis an absolute, compromisingunconditional, extending, increasing, modifying, releasing, or renewing complete and continuing guaranty of payment and performance of the Guarantied Obligations, changing and the interest rateobligations of the Guarantor hereunder shall not be released, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part, by any action or thing which might, but for this provision of this Guaranty, be deemed a legal or equitable discharge of a surety or guarantor, other than irrevocable payment and performance in full of the Obligations. To No notice of the maximum extent permitted by lawObligations to which this Guaranty may apply, each or of any renewal or extension thereof need be given to the Guarantor and none of the foregoing acts shall release the Guarantor from liability hereunder. The Guarantor hereby expressly waives any right to revoke this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written demand of payment, presentment, protest, notice thereof has been received by Beneficiariesof dishonor, nonpayment or nonperformance on any and all forms of the Obligations; (b) no such revocation shall apply notice of acceptance of this Guaranty and notice of any liability to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), which it may apply; (c) no such revocation shall apply to all other notices and demands of any Guarantied Obligations made or created after such date kind and description relating to the extent made Obligations now or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocationhereafter provided for by any agreement, statute, law, rule or regulation; and (d) no payment any and all defenses of the Borrower pertaining to the Obligations except for the defense of discharge by payment. The Guarantor shall not be exonerated with respect to the Guarantor's liabilities under this Guaranty by any Guarantoract or thing except irrevocable payment and performance of the Obligations, Borrowerit being the purpose and intent of this Guaranty that the Obligations constitute the direct and primary obligations of the Guarantor and that the covenants, agreements and all obligations of the Guarantor hereunder be absolute, unconditional and irrevocable. The Guarantor shall be and remain liable for any deficiency remaining after foreclosure of any mortgage, deed of trust or from security agreement securing all or any part of the Obligations, whether or not the liability of the Borrower or any other sourcePerson for such deficiency is discharged pursuant to statute, prior judicial decision or otherwise. The acceptance of this Guaranty by the Bank is not intended and does not release any liability previously existing of any guarantor or surety of any indebtedness of the Borrower to the date of such revocation, shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations of such Guarantor hereunderBank.

Appears in 1 contract

Sources: Credit Agreement (Norstan Inc)

Continuing Guaranty. The Company hereby absolutely and unconditionally guarantees, as a guaranty of payment and not merely as a guaranty of collection, prompt payment when due, whether at stated maturity, by required prepayment, upon acceleration, demand or otherwise, and at all times thereafter, of any and all of the Obligations, whether for principal, interest, premiums, fees, indemnities, damages, costs, expenses or otherwise, of the Designated Borrowers to the Credit Parties, arising hereunder or under any other Loan Document (including all renewals, extensions, amendments, refinancings and other modifications thereof and all costs, attorneys’ fees and expenses incurred by the Credit Parties in connection with the collection or enforcement thereof, the “Guarantee Obligations”). The Administrative Agent’s books and records showing the amount of the Guarantee Obligations shall be admissible in evidence in any action or proceeding, and shall be binding upon the Company, and conclusive for the purpose of establishing the amount of the Guarantee Obligations absent manifest error. This Guaranty includes Guarantied shall not be affected by the genuineness, validity, regularity or enforceability of the Guarantee Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasingor any instrument or agreement evidencing any Guarantee Obligations, or renewing by the Guarantied Obligationsexistence, changing the interest ratevalidity, payment termsenforceability, perfection, non-perfection or extent of any collateral therefor, or by any fact or circumstance relating to the Guarantee Obligations which might otherwise constitute a defense to the obligations of the Company under this Guaranty (other terms than full payment and conditions thereofperformance), or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To and the maximum extent permitted by law, each Guarantor Company hereby irrevocably waives any right to revoke this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by Beneficiaries, (b) no such revocation shall apply defenses it may now have or hereafter acquire in any way relating to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocation, (d) no payment by any Guarantor, Borrower, or from any other source, prior to the date of such revocation, shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion all of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations of such Guarantor hereunder.foregoing. CHAR1\1461746v12

Appears in 1 contract

Sources: Credit Agreement (Amazon Com Inc)

Continuing Guaranty. This Guaranty includes Guarantied Guaranteed Obligations arising that may arise under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Guaranteed Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Guaranteed Obligations after prior Guarantied Guaranteed Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives and agrees not to assert any right he has under California Civil Code Section 2815 to revoke this Guaranty as to future Indebtednessobligations arising pursuant to the Dealer Agreement, and any and all rights arising under California Civil Code Section 2814. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by BeneficiariesHyundai, (b) no such revocation shall apply to any Guarantied Guaranteed Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Guaranteed Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries Hyundai in existence on the date of such revocation, (d) no payment by Guarantor (or any Guarantorother guarantor), BorrowerDealer, or from any other source, prior to the date of such revocation, revocation shall reduce the maximum obligation of such Guarantor (or any other guarantor) hereunder, and (e) any payment by Borrower Dealer, or any other guarantor, or from any source other than such Guarantor from Guarantor, subsequent to the date of such revocation revocation, shall first be applied to that portion of the Guarantied Guaranteed Obligations as to which the revocation is effective and which are not, therefore, guarantied guaranteed hereunder, and to the extent so applied shall not reduce the maximum obligations obligation of such Guarantor hereunder.

Appears in 1 contract

Sources: Exclusive Dealer Agreement (Capsource Financial Inc)

Continuing Guaranty. This Guaranty includes Guarantied Guaranteed Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Guaranteed Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Guaranteed Obligations after prior Guarantied Guaranteed Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by Beneficiaries, (b) no such revocation shall apply to any Guarantied Guaranteed Obligations in existence on such the date that written notice of revocation has been received by Beneficiaries (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Guaranteed Obligations made or created after such the date that written notice of revocation has been received by Beneficiaries to the extent such Guaranteed Obligations were made or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocation, (d) no payment by any Guarantor, Borrowerthe Company, or from any other source, prior to the date of such revocation, shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower the Company or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Guaranteed Obligations as to which the revocation is effective and which are not, therefore, guarantied guaranteed hereunder, and to the extent so applied shall not reduce the maximum obligations of such Guarantor hereunder.

Appears in 1 contract

Sources: Guaranty (Global Cash Access Holdings, Inc.)

Continuing Guaranty. This Guaranty includes Guarantied is an absolute, unconditional and continuing guaranty of payment and performance of the Obligations arising under successive transactions continuingand the Obligations of Guarantor hereunder shall not be released, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part, by any action or thing which might, but for this provision of this Guaranty, be deemed a legal or equitable discharge of a surety or any Guarantor, other than irrevocable payment and performance in full of the Obligations. To No notice of the maximum extent permitted by lawObligations to which this Guaranty may apply, each or of any renewal or extension thereof, need be given to Guarantor, and none of the foregoing acts shall release Guarantor from liability hereunder. Guarantor hereby expressly waives any right to revoke this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that following: (a) no such revocation shall be effective until written demand of payment, presentment, protest, notice thereof has been received by Beneficiariesof dishonor, nonpayment or nonperformance on any and all forms of the Obligations; (b) no such revocation shall apply notice of acceptance of this Guaranty and notice of any liability to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), which it may apply; (c) no such revocation shall apply to all other notices and demands of any Guarantied Obligations made or created after such date kind and description relating to the extent made Obligations now or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocationhereafter provided for by any agreement, statute, law, rule or regulation; and (d) no payment any and all defenses of the Company pertaining to the Obligations except for the defense of discharge by payment. Guarantor shall not be exonerated with respect to Guarantor’ liabilities under this Guaranty by any Guarantor, Borrower, act or from any other source, prior to the date of such revocation, shall reduce the maximum obligation of such Guarantor hereunder, thing except irrevocable payment and (e) any payment by Borrower or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion performance of the Guarantied Obligations, it being the purpose and intent of this Guaranty that the Obligations as to which constitute the revocation is effective direct and which are notprimary obligations of each Guarantor and that the covenants, therefore, guarantied hereunder, agreements and to the extent so applied shall not reduce the maximum all obligations of such Guarantor hereunderhereunder be absolute, unconditional and irrevocable. Guarantor shall be and remain liable for any deficiency remaining after foreclosure of any mortgage, deed of trust or security agreement securing all or any part of the Obligations, whether or not the liability of the Company or any other Person for such deficiency is discharged pursuant to statute, judicial decision or otherwise. The acceptance of this Guaranty by Buyer is not intended and does not release any liability previously existing of any guarantor or surety of any indebtedness of the Company to Buyer.

Appears in 1 contract

Sources: Guaranty (Acceris Communications Inc)

Continuing Guaranty. This Unless terminated pursuant to this Section 7, this Guaranty includes Guarantied Obligations arising under successive transactions continuingshall remain in full force and effect and shall be binding on the Guarantor, compromising, extending, increasing, modifying, releasing, or renewing its respective successors and permitted assigns until the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been paid, observed, performed or satisfied in full, at which time this Guaranty shall immediately and automatically terminate and the Guarantor shall have no further obligations under this Guaranty. Notwithstanding the foregoing, this Guaranty shall terminate automatically and the Guarantor shall have no further obligations under this Guaranty immediately as of the earliest to occur of (a) the Closing, (b) payment in full to the Guaranteed Party or its Affiliates of the Obligations, (c) termination of the Merger Agreement in accordance with its terms in any circumstances other than pursuant to which Parent would be obligated to make a payment of the Obligations and (d) the date that is 90 days after the termination of the Merger Agreement in accordance with its terms in any circumstances pursuant to which Parent would be obligated to make a payment in respect of the Obligations (any such termination, a “Qualifying Termination”), unless prior to the 90th day after a Qualifying Termination, the Guaranteed Party shall have commenced a suit, action or other proceeding against Parent alleging payment of any Obligations due and owing or against the Guarantor that amounts are due and owing from the Guarantor pursuant to Section 1 hereof (a “Qualifying Suit”); provided that if a Qualifying Termination has occurred and a Qualifying Suit is filed prior to the 90th day after a Qualifying Termination, the Guarantor shall have no further liability or obligation under this Guaranty from and after the earliest of (w) the Closing, (x) a final, non-appealable resolution of such Qualifying Suit determining that either Parent does not owe any Obligations or that the Guarantor does not owe any amount pursuant to Section 1 hereof, (y) a written agreement among the Guarantor and the Guaranteed Party terminating the Obligations, and (z) satisfaction of the Obligations by the Guarantor or Parent. Notwithstanding the foregoing, in the event that the Guaranteed Party or any of its respective Affiliates, equityholders or agents assert in any action that (A) the provisions of Section 1 limiting the Guarantor’s liability with respect to the Obligations to the Cap or the provisions of this Section 7 or Section 8 are illegal, invalid or unenforceable in whole or in part. To , or asserting any theory of liability against the maximum extent permitted Guarantor or any Guarantor Affiliate with respect to the transactions contemplated by lawthe Merger Agreement or (B) asserting, filing or otherwise commencing, directly or indirectly, any lawsuit or other legal proceeding asserting a claim under, or action against, any Guarantor Affiliate in connection with this Guaranty, the Equity Commitment Letter, the Merger Agreement, the Debt Commitment Letter or any transaction contemplated hereby or thereby or otherwise relating hereto or thereto, in each case other than any Permitted Claim, then (A) the obligations of the Guarantor hereby waives any right to revoke under this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding shall terminate ab initio and be null and void, (B) if the foregoing waiverGuarantor has previously made any payments under this Guaranty, each Guarantor acknowledges and agrees that (a) no such revocation it shall be effective until written notice thereof has been received by Beneficiaries, (b) no entitled to recover such revocation shall apply to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocation, (d) no payment by any Guarantor, Borrower, or from any other source, prior to the date of such revocation, shall reduce the maximum obligation of such Guarantor hereunderpayments, and (eC) neither the Guarantor nor any payment by Borrower or from Guarantor Affiliate shall have any source other than such Guarantor subsequent liability to the date Guaranteed Party or any of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and its Affiliates with respect to the extent so applied shall not reduce transactions contemplated by the maximum obligations of such Guarantor hereunderMerger Agreement or under this Guaranty.

Appears in 1 contract

Sources: Limited Guaranty (NCI, Inc.)

Continuing Guaranty. This Guaranty includes Guarantied Obligations ------------------- arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by BeneficiariesGuarantied Party, (b) no such revocation shall apply to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries Guarantied Party in existence on the date of such revocation, (d) no payment by any Guarantor, Borrower, or from any other source, prior to the date of such revocation, revocation shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations obligation of such Guarantor hereunder.

Appears in 1 contract

Sources: General Continuing Guaranty (Microstrategy Inc)

Continuing Guaranty. This Guaranty includes Guarantied (a) WIL-Switzerland guarantees that the Guaranteed Obligations arising under successive transactions continuingshall be paid strictly in accordance with the terms of the Credit Agreement and the other Loan Documents; provided that if payment in respect of any Guaranteed Obligations shall be due in a currency other than Dollars and if, compromisingby reason of any legal prohibition, extendingdisruption of currency or foreign exchange markets, increasing, modifying, releasing, war or renewing the Guarantied Obligations, changing the interest ratecivil disturbance or other event, payment termsof such Guaranteed Obligations in such currency shall be impossible or, in the reasonable judgment of the Administrative Agent, the Issuing Bank or other terms any Lender, not consistent with the protection of its rights or interests, then, at the election of the Administrative Agent, the Issuing Bank or such Lender, WIL-Switzerland shall make payment of the Dollar Equivalent of such Guaranteed Obligations and conditions thereofshall indemnify the Administrative Agent, the Issuing Bank or creating new such Lender against any losses or additional Guarantied expenses (including losses or expenses resulting from fluctuations in exchange rates) that it shall sustain as a result of such alternative payment. WIL-Switzerland agrees that, to the maximum extent permitted by applicable law, the Guaranteed Obligations after prior Guarantied Obligations have been satisfied and Loan Documents to which any Borrower is a party may be extended or renewed, and indebtedness thereunder repaid and reborrowed in whole or in part, without notice to or assent by WIL-Switzerland, and that WIL-Switzerland shall remain bound upon this Guaranty notwithstanding any extension, renewal or other alteration of any of the Guaranteed Obligations or such Loan Documents or any repayment and reborrowing of Loans to the Borrowers. The obligations of WIL-Switzerland under this Guaranty are absolute and unconditional irrespective of the value, genuineness, validity, regularity or enforceability of the obligations of the Borrowers under the Credit Agreement or any other Loan Document or any substitution, release or exchange of any other guarantee of or security for the Obligations. To the maximum extent permitted by applicable law, each Guarantor hereby waives except as otherwise expressly provided in the Credit Agreement or any right other Loan Document to revoke which WIL-Switzerland is a party, the obligations of WIL-Switzerland under this Guaranty as shall be absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms hereof under any circumstances whatsoever, including: (i) any modification, amendment, supplement, renewal, extension for any period, increase, decrease, alteration or rearrangement of all or any part of the Guaranteed Obligations, or of the Credit Agreement or any other Loan Document executed in connection therewith, or any contract or understanding among the Borrowers, any Guarantor, the Administrative Agent, the Issuing Bank or the Lenders, or any other Person, pertaining to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiverGuaranteed Obligations; (ii) any adjustment, each indulgence, forbearance or compromise that might be granted or given by the Administrative Agent, the Issuing Bank or the Lenders to WIL-Switzerland, any other Guarantor, any Borrower or any other Person liable on the Guaranteed Obligations; (iii) the insolvency, bankruptcy, arrangement, adjustment, composition, liquidation, disability, dissolution or lack of power of WIL-Switzerland, any other Guarantor, any Borrower or any other Person at any time liable for the payment of all or part of the Guaranteed Obligations; or any dissolution or winding up of WIL-Switzerland, any other Guarantor acknowledges and agrees or any Borrower, or any sale, lease or transfer of any or all of the assets of WIL-Switzerland, any other Guarantor or any Borrower, or any changes in the shareholders of WIL-Switzerland, any other Guarantor or any Borrower, or any reorganization of WIL-Switzerland, any other Guarantor or any Borrower; (iv) the invalidity, illegality or unenforceability of all or any part of the Guaranteed Obligations, or any document or agreement executed in connection with the Guaranteed Obligations, for any reason whatsoever, including the fact that (aA) no such revocation shall be effective until written notice the Guaranteed Obligations, or any part thereof, exceed the amount permitted by law, (B) the act of creating the Guaranteed Obligations, or any part thereof is ultra ▇▇▇▇▇, (C) the officers or representatives executing the documents or otherwise creating the Guaranteed Obligations acted in excess of their authority, (D) the Guaranteed Obligations or any part thereof violate applicable usury laws, (E) WIL-Switzerland, any other Guarantor or any Borrower has valid defenses, claims, and offsets (whether at law or in equity, by agreement or by statute) which render the Guaranteed Obligations wholly or partially uncollectible from WIL-Switzerland, any other Guarantor or any Borrower, (F) the creation, performance, or repayment of the Guaranteed Obligations (or execution, delivery and performance of any document or instrument representing any part of the Guaranteed Obligations or executed in connection with any of the Guaranteed Obligations, or given to secure the repayment of the Guaranteed Obligations) is illegal, uncollectible, legally impossible or unenforceable, or (G) the Credit Agreement, any other Loan Document, or any other document or instrument pertaining to any of the Guaranteed Obligations has been received by Beneficiariesforged or otherwise is irregular or not genuine or authentic; (v) any full or partial release of the liability of WIL-Switzerland, (b) no such revocation shall apply to any Guarantied other Guarantor or any Borrower on the Guaranteed Obligations in existence on such date (including or any subsequent continuation, extension, or renewal part thereof, or change any other Person now or hereafter liable, whether directly or indirectly, jointly, severally, or jointly and severally, to pay, perform, guarantee, or assure the payment of the Guaranteed Obligations or any part thereof; it being recognized, acknowledged, and agreed by WIL-Switzerland that WIL-Switzerland may be required to pay the Guaranteed Obligations in full without assistance or support of any other Person, and that WIL-Switzerland has not been induced to enter into this Guaranty on the interest ratebasis of a contemplation, payment termsbelief, understanding or agreement that any other Person shall be liable to perform the Guaranteed Obligations or that the Administrative Agent, the Issuing Bank or any Lender shall look to any other Person to perform the Guaranteed Obligations; (vi) the taking or accepting of any other security, collateral or guaranty, or other terms and conditions thereof)assurance of payment, for all or any part of the Guaranteed Obligations; (cvii) no any release, surrender, exchange, subordination, deterioration, waste, loss or impairment of any collateral, property or security, at any time existing in connection with, or assuring or securing payment of, all or any part of the Guaranteed Obligations; (viii) the failure of the Administrative Agent, the Lenders, the Issuing Bank or any other Person to exercise diligence or reasonable care in the preservation, protection, enforcement, sale or other handling or treatment of all or any part of such revocation collateral, property or security; (ix) the fact that any collateral, security or Lien contemplated or intended to be given, created or granted as security for the repayment of the Guaranteed Obligations shall apply not be properly perfected or created, or shall prove to be unenforceable or subordinate to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries other Lien; it being recognized and agreed by WIL-Switzerland that WIL-Switzerland is not entering into this Guaranty in existence on the date of such revocation, (d) no payment by any Guarantor, Borrowerreliance on, or from in contemplation of the benefits of, the validity, enforceability, collectibility or value of any other source, prior to of the date of such revocation, shall reduce collateral for the maximum obligation of such Guarantor hereunder, and Guaranteed Obligations; (ex) any payment by Borrower any Borrower, WIL-Switzerland or from any source other than such Guarantor subsequent to the date Administrative Agent, the Issuing Bank or any Lender is held to constitute a preference under bankruptcy or insolvency laws, or for any other reason either the Administrative Agent, the Issuing Bank or any Lender is required to refund such payment or pay such amount to any Borrower, WIL-Switzerland, any other Guarantor or any other Person; or (xi) any other action taken or omitted to be taken with respect to the Credit Agreement, this Guaranty, any other Loan Document, the Guaranteed Obligations, or the security and collateral therefor, whether or not such action or omission prejudices WIL-Switzerland or increases the likelihood that WIL-Switzerland shall be required to pay the Guaranteed Obligations pursuant to the terms hereof; it being the unambiguous and unequivocal intention of such revocation WIL-Switzerland that WIL-Switzerland shall first be applied obligated to that portion pay the Guaranteed Obligations when due, notwithstanding any occurrence, circumstance, event, action, or omission whatsoever, whether contemplated or uncontemplated, and whether or not otherwise or particularly described herein, except for the full and final payment and satisfaction of the Guarantied Guaranteed Obligations after the termination of all of the Commitments. (b) WIL-Switzerland further agrees that, to the fullest extent permitted by law, as between WIL-Switzerland, on the one hand, and the Administrative Agent, the Issuing Bank and the Lenders, on the other hand, (i) the maturity of the Obligations may be accelerated as provided in Section 9.01 of the Credit Agreement for the purposes of this Guaranty, notwithstanding any stay, injunction or other prohibition preventing the acceleration of the Obligations as to which against any Borrower and (ii) in the revocation is effective event of any purported acceleration (whether by declaration or automatic) of the Obligations as provided in Section 9.01 of the Credit Agreement, the Obligations (whether or not due and which are not, therefore, guarantied hereunder, payable) shall forthwith become due and to payable by WIL-Switzerland for the extent so applied shall not reduce the maximum obligations purpose of such Guarantor hereunderthis Guaranty.

Appears in 1 contract

Sources: Guaranty Agreement (Weatherford International Ltd./Switzerland)

Continuing Guaranty. Assignments under the Revolving Credit Agreement. There are no conditions precedent to the effectiveness of this Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms is a continuing guaranty and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that shall: (a) remain in full force and effect, except with respect to any Guarantor released from its obligations hereunder pursuant to Section 10.01(g) of the Revolving Credit Agreement, until all Guaranteed Obligations (other than (i) L/C Obligations from undrawn and outstanding Letters of Credit and (ii) contingent reimbursement or indemnification obligations for which no claim has been made) are paid in full in immediately available funds and the Commitments are terminated, and any L/C Obligations (other than Unreimbursed Amounts) have been Cash Collateralized in accordance with the Revolving Credit Agreement (or other arrangements satisfactory to the applicable L/C Issuer with respect thereto have been made) (“Payment in Full”). Notwithstanding the foregoing, in the event that any payment by or on behalf of the Borrower or any Guarantor is made, or any Lender Party exercises its right of setoff, in respect of the Guaranteed Obligations and such revocation payment or the proceeds of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by any Lender Party in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any proceeding under any Debtor Relief Laws or otherwise, this Guaranty shall be effective until written notice thereof automatically revived and reinstated in full force and effect in respect of the amount of such payment or proceeds, all as if such payment had not been made or such setoff had not occurred and whether or not such Lender Party is in possession of or has been received by Beneficiariesreleased this Guaranty and regardless of any prior revocation, rescission, termination or reduction. The obligations of each Guarantor under this paragraph shall survive termination of this Guaranty; (b) no such revocation shall apply to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms be binding upon each Guarantor and conditions thereof), its successors and assigns; and (c) inure to the benefit of and be enforceable by the Administrative Agent, each Lender, each L/C Issuer, the Swing Line Lender, and their respective successors, permitted transferees and permitted assigns, provided that, notwithstanding anything contained in this Guaranty to the contrary, no beneficiary of this Guaranty other than the Administrative Agent shall have any right individually to enforce this Guaranty, it being understood and agreed that all powers, rights and remedies hereunder may be exercised solely by the Administrative Agent on behalf of the beneficiaries hereof in accordance with the terms hereof. By accepting the benefit of this Guaranty, each such revocation shall apply beneficiary agrees to the terms of this subsection (c). Without limiting the generality of the foregoing clause (c), subject to Section 10.06 of the Revolving Credit Agreement, any Guarantied Obligations made Lender Party may assign or created after such date otherwise transfer all or any portion of its rights and obligations under the Revolving Credit Agreement to the extent made permitted thereby (including, without limitation, all or created pursuant any portion of its Commitment, the Loans owing to it and the Note or Notes held by it) to any other Person, and such other Person shall thereupon become vested with all the benefits in respect thereof granted to such Lender herein or otherwise, subject, however, in all respects to the provisions of the Revolving Credit Agreement. Each Guarantor acknowledges that upon any Person becoming a legally binding commitment of Beneficiaries in existence on Lender, the date of such revocationAdministrative Agent, (d) no payment by any Guarantor, Borroweran L/C Issuer, or from any other sourcethe Swing Line Lender in accordance with the Revolving Credit Agreement, prior such Person shall be entitled to the date of such revocation, shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations of such Guarantor hereunderbenefits hereof.

Appears in 1 contract

Sources: Guaranty Agreement

Continuing Guaranty. This Guaranty includes Guarantied is a continuing guaranty and agreement of subordination and shall continue in effect and be binding upon each Guarantor until termination of the Revolving Commitments and payment and performance in full of the Guaranteed Obligations, including Guaranteed Obligations arising which may exist continuously or which may arise from time to time under successive transactions continuingtransactions, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right expressly acknowledges that this Guaranty shall remain in full force and effect notwithstanding that there may be periods in which no Guaranteed Obligations exist. This Guaranty shall continue in effect and be binding upon each Guarantor until actual receipt by the Administrative Agent of written notice from such Guarantor of its intention to revoke this discontinue its Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that transactions (a) no such revocation which notice shall not be effective until written notice thereof has been received by Beneficiariesnoon on the day five Business Days following such receipt); PROVIDED that no revocation or termination of this Guaranty in respect of any Guarantor shall affect in any way any rights of the Administrative Agent, (b) no such revocation shall apply the Issuing Bank and the Banks hereunder with respect to any Guarantied Guaranteed Obligations in existence arising or outstanding on the date of receipt of such date (notice, including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment termsterms or conditions thereof, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Guaranteed Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries any of the Issuing Bank or the Banks in existence on the date as of such revocation, (d) no payment by any Guarantor, Borrower, or from any other source, prior to the date of such revocation, shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not(collectively, therefore, guarantied hereunder"Existing Guaranteed Obligations"), and the sole effect of such notice shall be to the extent so applied shall not reduce the maximum obligations exclude from this Guaranty in respect of such Guarantor hereunderGuaranteed Obligations thereafter arising which are unconnected to any Existing Guaranteed Obligations.

Appears in 1 contract

Sources: Credit Agreement (Mail Well Inc)

Continuing Guaranty. This Guaranty includes Guarantied is a continuing guaranty and agreement of subordination and shall continue in effect and be binding upon each Subsidiary Guarantor until termination of the Aggregate Commitments and payment and performance in full of the Guaranteed Obligations, including Guaranteed Obligations arising which may exist continuously or which may arise from time to time under successive transactions continuingtransactions, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied each Subsidiary Guarantor expressly acknowledges that this guaranty shall remain in full force and effect notwithstanding that there may be periods in which no Guaranteed Obligations after prior Guarantied Obligations have been satisfied exist. This Guaranty shall continue in whole or in part. To the maximum extent permitted effect and be binding upon each Subsidiary Guarantor until actual receipt by law, each Lender of written notice from such Subsidiary Guarantor hereby waives any right of its intention to revoke discontinue this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that transactions (a) no such revocation which notice shall not be effective until written notice thereof has been received by Beneficiaries, (b) noon on the day that is five Business Days following such receipt); provided that no such revocation or termination of this guaranty shall apply affect in any way any rights of Lender hereunder with respect to any Guarantied Guaranteed Obligations in existence arising or outstanding on the date of receipt of such date (notice, including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment termsterms or conditions thereof, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Guaranteed Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries Lender in existence on the date as of such revocation, (d) no payment by any Guarantor, Borrower, or from any other source, prior to the date of such revocation, shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor subsequent to the date of such revocation (collectively, “Existing Guaranteed Obligations”), and the sole effect of such notice shall first be applied to that portion of the Guarantied exclude from this Guaranty Guaranteed Obligations as to which the revocation is effective and thereafter arising which are not, therefore, guarantied hereunder, and unconnected to the extent so applied shall not reduce the maximum obligations of such Guarantor hereunderany Existing Guaranteed Obligations.

Appears in 1 contract

Sources: Loan and Security Agreement (BioAmber Inc.)

Continuing Guaranty. This Guaranty includes Guarantied Obligations ------------------- arising under successive transactions future transactions, approved by TVN in writing, continuing, compromising, extending, increasing, modifying, releasing, or renewing any of the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by BeneficiariesGuarantied Party, (b) no such revocation shall apply to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries Guarantied Party in existence on the date of such revocation, (d) no payment by any Guarantor, BorrowerNMN, or from any other source, prior to the date of such revocation, revocation shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower NMN or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied guaranteed hereunder, and to the extent so applied shall not reduce the maximum obligations obligation of such Guarantor hereunder.

Appears in 1 contract

Sources: Series B Preferred Stock Purchase Agreement (TVN Entertainment Corp)

Continuing Guaranty. This Guaranty includes Guarantied (a) Each Subsidiary Guarantor guarantees that the Borrower Guaranteed Obligations arising under successive transactions continuingwill be paid strictly in accordance with the terms of this Agreement and the other Loan Documents. Each Subsidiary Guarantor agrees that, compromisingto the maximum extent permitted by applicable law, extendingthe Borrower Guaranteed Obligations and the Loan Documents may be extended or renewed, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied Loans repaid and reborrowed in whole or in part, without notice to or assent by such Subsidiary Guarantor, and that it will remain bound upon this Subsidiary Guarantors Guaranty notwithstanding any extension, renewal or other alteration of any of the Borrower Guaranteed Obligations or the Loan Documents, or any repayment and reborrowing of the Loans, or the expiration of the Letters of Credit. To the maximum extent permitted by applicable law, except as otherwise expressly provided in this Agreement or any other Loan Document to which such Subsidiary Guarantor is a party, the obligations of each Subsidiary Guarantor hereby waives any right to revoke under this Subsidiary Guarantors Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by Beneficiariesabsolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms hereof under any circumstances whatsoever, including: (bi) no such revocation shall apply to any Guarantied modification, amendment, supplement, renewal, extension for any period, increase, decrease, alteration or rearrangement of all or any part of the Borrower Guaranteed Obligations or this Agreement or any other Loan Document executed in existence on such date (including any subsequent continuation, extensionconnection herewith, or renewal thereofany contract or understanding among either Borrower, any Subsidiary Guarantor, either Agent and/or the Lenders, or change in the interest rateany other Person, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date pertaining to the extent made or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocation, (d) no payment by any Guarantor, Borrower, or from any other source, prior to the date of such revocation, shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations of such Guarantor hereunder.Guaranteed Obligations;

Appears in 1 contract

Sources: Credit Agreement (Evi Inc)

Continuing Guaranty. This Guaranty includes Guarantied is a continuing guaranty and agreement of subordination and shall continue in effect and be binding upon each Subsidiary Guarantor until termination of any Incremental Term Loan Commitment and payment and performance in full of the Guaranteed Obligations, including Guaranteed Obligations arising which may exist continuously or which may arise from time to time under successive transactions continuingtransactions, compromising, extending, increasing, modifying, releasing, or renewing and each Subsidiary Guarantor expressly acknowledges that this guaranty shall remain in full force and effect notwithstanding that there may be periods in which no Guaranteed Obligations exist. This Guaranty shall continue in effect and be binding upon each Subsidiary Guarantor until actual receipt by the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Lender of written notice from such Subsidiary Guarantor hereby waives any right of its intention to revoke discontinue this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that transactions (a) no such revocation which notice shall not be effective until written notice thereof has been received by Beneficiariesnoon on the day that is five Business Days following such receipt); provided, (b) that no such revocation or termination of this guaranty shall apply affect in any way any rights of the Lender hereunder with respect to any Guarantied Guaranteed Obligations in existence arising or outstanding on the date of receipt of such date (notice, including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment termsterms or conditions thereof, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Guaranteed Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries the Lender in existence on the date as of such revocation, (d) no payment by any Guarantor, Borrower, or from any other source, prior to the date of such revocation, shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor subsequent to the date of such revocation (collectively, “Existing Guaranteed Obligations”), and the sole effect of such notice shall first be applied to that portion of the Guarantied exclude from this Guaranty Guaranteed Obligations as to which the revocation is effective and thereafter arising which are not, therefore, guarantied hereunder, and unconnected to the extent so applied shall not reduce the maximum obligations of such Guarantor hereunderany Existing Guaranteed Obligations.

Appears in 1 contract

Sources: Loan and Security Agreement (Amyris, Inc.)

Continuing Guaranty. Guarantor absolutely and unconditionally guarantees to Lessor, its successors and assigns, the full and prompt performance of all of Less▇▇'▇ ▇bligations including but not limited to the payment when due of all rents, charges of additional sums coming due under the Lease, and the performance of all covenants and agreements of the Lessee contained in the Lease. Guarantor further unconditionally guarantees the full and prompt payment of all damages that may arise or be incurred by Less▇▇, ▇▇s successors and assigns as the consequence of Less▇▇'▇ ▇ailure to perform any of Less▇▇'▇ ▇bligations. Guarantor unconditionally further agrees to pay all expenses, including attorneys' fees and legal expenses, paid or incurred by Lessor in endeavoring to collect or enforce Less▇▇'▇ ▇bligations or any part thereof. Such payment and performance is to be made or performed by Guarantor forthwith upon a default by Less▇▇. ▇▇ar▇▇▇▇▇ ▇▇▇ees that this Guaranty arises out of the conduct of a trade, business or profession. In the event of the dissolution, bankruptcy or insolvency of Lessee, or the inability of Lessee to pay debts as they mature, or an assignment by Lessee for the benefit of creditors, or the institution of any bankruptcy or other proceedings by or against Lessee alleging that Lessee is insolvent or unable to pay debts as they mature, or Less▇▇'▇ ▇efault under the Lease, and if such event shall occur at a time when any of Lessee's Obligations may not then be due and payable, Guar▇▇▇▇▇ ▇▇▇ees to pay to Lessor upon demand, the full amount which would be payable hereunder by Guarantor if all Less▇▇'▇ ▇bligations were then due and payable. This Guaranty includes Guarantied Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms shall be an absolute and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied unconditional guaranty and shall remain in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty full force and effect as to future IndebtednessGuarantor for the full term of the Lease any extensions thereof. If such a revocation is effective notwithstanding Notwithstanding termination of the foregoing waiverLease, each Guarantor acknowledges shall continue to be liable for all Lessee's Obligations which have accrued up to and including the date of termination. Guarantor covenants and agrees that it shall not be released from the obligations of this Guaranty, nor shall such obligations be diminished or otherwise affected by (a) no such revocation shall be effective until written notice thereof has been received any extension of time or other indulgence granted to Lessee or other guarantors, or by Beneficiariesa waiver with respect to Less▇▇'▇ ▇bligations or any of them, (b) no such revocation shall apply to any Guarantied Obligations in existence on such date (including assignment of the Lease or any subsequent continuation, extension, subletting of the all or renewal thereof, or change in any portion of the interest rate, payment terms, or other terms and conditions thereof)Premises, (c) no such revocation shall apply to any Guarantied Obligations made amendment or created after such date modification of the Lease (except to the extent made such amendment or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocation, modification affects Less▇▇'▇ ▇bligations) or (d) no payment by any Guarantor, Borrower, or from any other source, prior to the date act or omission of such revocation, shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source Lessor other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations of such Guarantor hereundera written waiver.

Appears in 1 contract

Sources: Basic Lease Agreement (Bam Entertainment Inc)

Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuingis an absolute, compromising, extending, increasing, modifying, releasing, or renewing unconditional and continuing guaranty of payment and performance of the Guarantied Obligations, changing and the interest rateobligations of the Guarantor hereunder shall not be released, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part, by any action or thing which might, but for this provision of this Guaranty, be deemed a legal or equitable discharge of a surety or guarantor, other than irrevocable payment and performance in full of the Obligations. To No notice of the maximum extent permitted by lawObligations to which this Guaranty may apply, each or of any renewal or extension thereof need be given to the Guarantor and none of the foregoing acts shall release the Guarantor from liability hereunder. The Guarantor hereby expressly waives any right to revoke this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written demand of payment, presentment, protest, notice thereof has been received by Beneficiariesof dishonor, nonpayment or nonperformance on any and all forms of the obligations; (b) no such revocation shall apply notice of acceptance of this Guaranty and notice of any liability to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), which it may apply; (c) no such revocation shall apply to all other notices and demands of any Guarantied Obligations made or created after such date kind and description relating to the extent made Obligations now or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocationhereafter provided for by any agreement, statute, law, rule or regulation; and (d) no payment any and all defenses of the Borrower pertaining to the Obligations except for the defense of discharge by payment. The Guarantor shall not be exonerated with respect to the Guarantor's liabilities under this Guaranty by any Guarantoract or thing except irrevocable payment and performance of the Obligations, Borrowerit being the purpose and intent of this Guaranty that the Obligations constitute the direct and primary obligations of the Guarantor and that the covenants, agreements and all obligations of the Guarantor hereunder be absolute, unconditional and irrevocable. The Guarantor shall be and remain liable for any deficiency remaining after foreclosure of any mortgage, deed of trust or from security agreement securing all or any part of the Obligations, whether or not the liability of the Borrower or any other sourcePerson for such deficiency is discharged pursuant to statute, prior to the date judicial decision or otherwise. The acceptance of such revocation, shall reduce the maximum obligation this Guaranty by Lender is not intended and does not release any liability previously existing of such Guarantor hereunder, and (e) any payment by Borrower guarantor or from surety of any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion indebtedness of the Guarantied Obligations as Borrower to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations of such Guarantor hereunderLender.

Appears in 1 contract

Sources: Financing Agreement (Futech Interactive Products Inc)

Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by Beneficiariesthe Holders, (b) no such revocation shall apply to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries the Holders in existence on the date of such revocation, (d) no payment by any Guarantor, Borrowerthe Company, or from any other source, prior to the date of such revocation, revocation shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower the Company or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations obligation of such Guarantor hereunder.

Appears in 1 contract

Sources: Rescission, Restructuring and Assignment Agreement (Integrated Healthcare Holdings)

Continuing Guaranty. This Guaranty includes Guarantied Obligations ------------------- arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by BeneficiariesAgent, (b) no such revocation shall apply to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries the Lender Group in existence on the date of such revocation, (d) no payment by any Guarantor, Borrowera Debtor, or from any other sourcesource (other than Guarantor), prior to the date of such revocation, revocation shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower a Debtor or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations obligation of such Guarantor Guarantors hereunder.

Appears in 1 contract

Sources: Limited Guaranty (Learningstar Corp)

Continuing Guaranty. In consideration of, and as an inducement for the granting, execution and delivery of the foregoing Lease attached hereto and made a part hereof, dated SEPTEMBER 28, 1995 ("Lease"), by and between DRAP▇▇ ▇▇▇K NORTH, L.C. ("Landlord") and ADVANTA FINANCIAL CORPORATION ("Tenant"), and other good and valuable consideration given by Landlord to the undersigned guarantor, ADVANTA CORP. ("Guarantor") hereby guarantees to Landlord (herein including its successors and assigns) the full and prompt payment of all Rents by the Tenant (herein including its successors and assigns); and the Guarantor (herein including its successors and assigns) hereby covenants and agrees to and with the Landlord that if Tenant shall be in default under the Lease, the Guarantor will forthwith pay such Rents to the Landlord, including, without limitation, all costs and reasonable attorneys' fees incurred by the Landlord as a result of Tenant's default and enforcement of this Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuingis an absolute and unconditional Guaranty of payment. It is enforceable against the Guarantor, compromisingupon ten (10) days written notice of Tenant's default, extending, increasing, modifying, releasingwithout the necessity of legal suit or proceedings whatsoever on Landlord's part against the Tenant, or renewing acceptance of this Guaranty. Any other notice or demand to which the Guarantied ObligationsGuarantor might otherwise be entitled is hereby expressly waived. The Guarantor hereby expressly agrees that the validity of this Guaranty and the obligations of the Guarantor hereunder shall not be terminated, changing affected or impaired by reason of the interest rateassertion or the failure to assert by the Landlord against Tenant of any of Landlord's rights or remedies under the Lease. This Guaranty shall be a continuing Guaranty, payment termsand the liability of the Guarantor shall not be effected or impaired by reason of any assignment or extension of the Lease, or other by reason of any modification, waiver or change in any terms and conditions thereofof the Lease, or creating new by reason of any dealings between Landlord and Tenant, whether or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied not notice is given to the Guarantor. Any written notice or contact with Guarantor shall be addressed to: Advanta Corp. Attn: General Counsel Five Horsham Business Center 300 ▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇-▇▇▇▇ Notwithstanding the preceding paragraphs, at the expiration of the Lease and any extensions or holdovers, and providing that Tenant is in whole or in part. To full compliance with all obligations under the maximum extent permitted by lawLease, each Guarantor hereby waives any right to revoke Guarantor's obligations under this Guaranty as shall automatically terminate. DATED: March 12, 1996 GUARANTOR: ADVANTA CORP. /s/ John ▇. ▇▇▇▇▇, ▇▇. ------------------------ Vice President 35 STATE OF PA ) NOTARIAL SEAL ) BETT▇ ▇▇▇ ▇▇▇▇, ▇▇TARY PUBLIC :ss HORSHAM TWP., MONT▇▇▇▇▇▇ ▇▇▇NTY ) MY COMMISSION EXPIRES FEB. 22, 1999 COUNTY OF MONT▇▇▇▇▇▇ ) On this 14 day of March, 1996 before me a Notary Public, personally appeared John ▇. ▇▇▇▇▇, ▇▇., ▇▇o represented to future Indebtedness. If such me to be the _________________ of Advanta Corp., a revocation is effective notwithstanding _______________, that executed the within and foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by Beneficiaries, (b) no such revocation shall apply to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocation, (d) no payment by any Guarantor, Borrower, or from any other source, prior to the date of such revocation, shall reduce the maximum obligation of such Guarantor hereunderinstrument, and (e) any payment by Borrower or from any source other than such Guarantor subsequent acknowledged said instrument to be the date free and voluntary act and deed of such revocation shall first be applied to that portion of said corporation, for the Guarantied Obligations as to which the revocation is effective uses and which are not, therefore, guarantied hereunderpurposes therein mentioned, and on oath stated that he/she had the capacity and was duly authorized to the extent so applied shall not reduce the maximum obligations of such Guarantor hereunderexecute said instrument.

Appears in 1 contract

Sources: Lease (Advanta Corp)

Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges covenants and agrees that that: (a) no such revocation shall this is a continuing guarantee of payment and not of collection, whether the Obligations are now or hereafter existing, acquired or created, and irrespective of the fact that, from time to time, monies may be effective until written notice thereof has been received by Beneficiariesadvanced, repaid and readvanced, and the outstanding balance of the Facility may be zero; (b) no this Guaranty may not be revoked or terminated until such revocation time as the Obligations and Guarantor Obligations shall apply have been indefeasibly fully paid and satisfied and Lender acknowledges the same in writing to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), Guarantor; (c) no such revocation the Obligations shall apply not be deemed to have been otherwise indefeasibly fully paid and satisfied so long as any Guarantied Obligations made Loan Document (other than this Guaranty) shall have any continuing force or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocation, effect; and (d) no payment by the Obligations will be indefeasibly paid and satisfied in full in accordance with the terms and provisions of the Loan Documents without regard to any Guarantor, Borrowerapplicable law now or hereafter in effect in any jurisdiction, or from the legality, validity, binding effect or enforceability of any other sourceterm of any Loan Document, prior including, without limitation, any applicable law that might in any manner affect any of those terms and provisions, or any of the rights, powers, privileges, remedies and interests of Lender with respect thereto, or that might cause or permit to be invoked any alteration in the date time, amount, or manner of such revocation, shall reduce payment of any of the maximum obligation of such Guarantor hereunder, and (e) any payment Obligations by Borrower or from any source other person or entity (other than such Lender). Notwithstanding the foregoing, this Guaranty shall terminate on August 17, 2018, and Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied released form any obligations hereunder, and to the extent so applied shall not reduce the maximum obligations if there is no outstanding Event of such Guarantor hereunderDefault that is uncured or unwaived as of that date.

Appears in 1 contract

Sources: Validity Guaranty (BTHC X Inc)

Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions transactions, in accordance with this Agreement and the Loan Documents, continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future IndebtednessGuaranteed Obligations. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by BeneficiariesAgent, (b) no such revocation shall apply to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereofthereof in accordance with this Agreement and the other Loan Documents), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries a Lender in existence on the date of such revocation, (d) no payment by any Guarantor, any Borrower, or from any other source, prior to the date of such revocation, revocation shall reduce the maximum obligation of such Guarantor Guarantors hereunder, and (e) any payment by Borrower Borrowers or from any source other than such a Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations obligation of such Guarantor Guarantors hereunder.

Appears in 1 contract

Sources: Credit Agreement (Dune Energy Inc)

Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuingis a complete and continuing guaranty of payment and performance of the Obligations. This Guaranty being a guarantee of payment and not of collectibility and being absolute and unconditional, compromisingthe obligations of the Guarantor hereunder shall not be released, extending, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part, by any action or thing which might, but for this provision of this Guaranty, be deemed a legal or equitable discharge of a surety or guarantor, other than irrevocable payment and performance in full of the Obligations. To No notice of the maximum extent permitted by lawObligations to which this Guaranty may apply, each or of any renewal or extension thereof need be given to the Guarantor and none of the foregoing acts shall release the Guarantor from liability hereunder. The Guarantor hereby expressly waives any right to revoke this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written demand of payment, presentment, protest, notice thereof has been received by Beneficiariesof dishonor, nonpayment or nonperformance on any and all forms of the Obligations; (b) no such revocation shall apply notice of acceptance of this Guaranty and notice of any liability to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), which it may apply; (c) no such revocation shall apply to all other notices and demands of any Guarantied Obligations made or created after such date kind and description relating to the extent made Obligations now or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocationhereafter provided for by any agreement, statute, law, rule or regulation; and (d) no payment any and all defenses of either Borrower pertaining to the Obligations except for the defense of discharge by payment. The Guarantor shall not be exonerated with respect to the Guarantor's liabilities under this Guaranty by any Guarantoract or thing except irrevocable payment and performance of the Obligations, Borrowerit being the purpose and intent of this Guaranty that the Obligations constitute the direct and primary obligations of the Guarantor and that the covenants, agreements and all obligations of the Guarantor hereunder be absolute, unconditional and irrevocable. The Guarantor shall be and remain liable for any deficiency remaining after foreclosure of any mortgage, deed of trust or from security agreement securing all or any part of the Obligations, whether or not the liability of either Borrower or any other sourcePerson for such deficiency is discharged pursuant to statute, prior to judicial decision or otherwise. The acceptance of this Guaranty by the date Banks and the Agent is not intended and does not release any liability previously existing of such revocation, shall reduce the maximum obligation any guarantor or surety of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion indebtedness of the Guarantied Obligations as Borrowers to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations of such Guarantor hereunderany Bank.

Appears in 1 contract

Sources: Credit Agreement (Pilgrim America Capital Corp)

Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part​ 10. To the maximum extent permitted by law, each 01Guaranty. Each Guarantor hereby waives absolutely and unconditionally, jointly and severally guarantees, as a guaranty of payment and performance and not merely as a guaranty of collection, prompt payment when due, whether at stated maturity, by required prepayment, upon acceleration, demand or otherwise, and at all times thereafter, of any right and all Secured Obligations (for each Guarantor, subject to revoke the proviso in this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiversentence, each Guarantor acknowledges and agrees its “Guaranteed Obligations”); provided that (a) no the Guaranteed Obligations of a Guarantor shall exclude any Excluded Swap Obligations with respect to such revocation shall be effective until written notice thereof has been received by Beneficiaries, Guarantor and (b) no such revocation the liability of each Guarantor individually with respect to this Guaranty shall apply be limited to an aggregate amount equal to the largest amount that would not render its obligations hereunder subject to avoidance under Section 548 of the Bankruptcy Code of the United States or any comparable provisions of any applicable state law. The Administrative Agent’s books and records showing the amount of the Obligations shall be admissible in evidence in any action or proceeding, and shall be binding upon each Guarantor, and conclusive for the purpose of establishing the amount of the Secured Obligations absent manifest error. This Guaranty shall not be affected by the genuineness, validity, regularity or enforceability of the Secured Obligations or any instrument or agreement evidencing any Secured Obligations, or by the existence, validity, enforceability, perfection, non-perfection or extent of any Collateral therefor, or by any fact or circumstance relating to the Secured Obligations which might otherwise constitute a defense to the obligations of the Guarantors, or any of them, under this Guaranty, and each Guarantor hereby irrevocably waives any defenses it may now have or hereafter acquire in any way relating to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocation, (d) no payment by any Guarantor, Borrower, or from any other source, prior to the date of such revocation, shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion all of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations of such Guarantor hereunderforegoing.

Appears in 1 contract

Sources: Credit Agreement (El Pollo Loco Holdings, Inc.)

Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future IndebtednessGuarantied Obligations. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by BeneficiariesAgent, (b) no such revocation shall apply to any Guarantied Obligations in existence on the date of receipt by Agent of such date written notice (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries the Lender Group in existence on the date of such revocation, (d) no payment by any Guarantor, any Borrower, or from any other source, prior to the date of Agent’s receipt of written notice of such revocation, revocation shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by any Borrower or from any source other than such a Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations obligation of such Guarantor Guarantors hereunder.

Appears in 1 contract

Sources: General Continuing Guaranty (Securus Technologies, Inc.)

Continuing Guaranty. THIS GUARANTY ENCOMPASSES A LINE OF CREDIT AND GUARANTOR UNDERSTANDS AND AGREES THAT THIS GUARANTY SHALL BE OPEN AND CONTINUOUS UNTIL THE INDEBTEDNESS IS PAID IN FULL AND THE LENDER DECLARES THAT THE LINE OF CREDIT IS FULLY SATISFIED, PERFORMED AND TERMINATED, DURATION OF GUARANTY. This Guaranty includes Guarantied Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasingwill take effect when received by Lender without the necessity of any acceptance by ▇▇▇▇▇▇, or renewing any notice to Guarantor or to Borrower, and will continue in full force until all the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations indebtedness shall have been fully and finally paid and satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke and all of Guarantor’s other obligations under this Guaranty as to future Indebtednessshall have been performed in full. If such Release of any other guarantor or termination of any other guaranty of the indebtedness shall not affect the liability of Guarantor under this Guaranty. A revocation Lender receives from any one or more Guarantors shall not affect the liability of any remaining Guarantors under this Guaranty. This Guaranty covers a revocation revolving line of credit and it is effective notwithstanding specifically anticipated that fluctuations will occur in the foregoing waiveraggregate amount of the indebtedness, each Guarantor specifically acknowledges and agrees that fluctuations in the amount of the indebtedness, even to zero dollars (a$ 0.00), shall not constitute a termination of this Guaranty. Guarantor’s liability under this Guaranty shall terminate only upon (A) no such revocation shall be effective until written notice thereof has been received termination in writing by Beneficiaries▇▇▇▇▇▇▇▇ and Lender of the line of credit, (bB) no such revocation shall apply to any Guarantied Obligations payment of the indebtedness in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change full in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocation, (d) no payment by any Guarantor, Borrower, or from any other source, prior to the date of such revocation, shall reduce the maximum obligation of such Guarantor hereunderlegal tender, and (eC) any payment by Borrower or from any source in full in legal tender of all of Guarantor’s other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations of such Guarantor hereunderunder this Guaranty.

Appears in 1 contract

Sources: Business Loan Agreement (TX Holdings, Inc.)

Continuing Guaranty. This Subject to the terms of Section 22 hereof, until all obligations of the Borrower to the Agent and the Lenders under the Loan Documents are fulfilled to the satisfaction of the Agent and the Lenders and each and every of the terms, covenants and conditions of this Guaranty includes Guarantied Obligations arising under successive transactions continuingare fully performed and the Loan are fully repaid, compromisingno Guarantor shall be released by any act or thing which might, extendingbut for this provision, increasing, modifying, releasingbe deemed a legal or equitable discharge of a surety, or renewing by reason of any waiver, extension, modification, forbearance or delay or other act or omission of the Guarantied Obligations, changing the interest rate, payment termsAgent or any Lender or its failure to proceed promptly or otherwise, or other terms by reason of any action taken or omitted or circumstance which may or might vary the risk or affect the rights or remedies of the Guarantor or by reason of any further dealings between the Borrower and conditions thereofthe Agent or any of the Lenders, whether relating to the Loan or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To otherwise, and the maximum extent permitted by law, each Guarantor hereby expressly waives and surrenders any right defenses to revoke its liability hereunder based upon any of the foregoing acts, omissions, things or agreements or waivers of the Agent or any of the Lenders; it being the purpose and intent of this Guaranty as to future Indebtednessthat the obligations of the Guarantor hereunder are absolute and unconditional under any and all circumstances. If such a revocation is effective notwithstanding The Guarantor has also executed the foregoing waiver, each Guarantor acknowledges Payment Guaranty and agrees that the Operating Deficit Guaranty in favor of the Agent and the Lenders and (a) no such revocation payment or performance by the Guarantor of its obligations under this Guaranty shall be effective until written notice thereof has been received by Beneficiariesnot decrease the Guarantor's liability under the Payment Guaranty or the Operating Deficit Guaranty, and (b) no such revocation shall apply to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, payment or renewal thereof, performance by the Guarantor under the Payment Guaranty or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocation, (d) no payment by any Guarantor, Borrower, or from any other source, prior to the date of such revocation, shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied Operating Deficit Guaranty shall not reduce decrease or diminish the maximum obligations of such Guarantor hereunderGuarantor's liability under this Guaranty.

Appears in 1 contract

Sources: Completion Guaranty (Brookdale Living Communities Inc)

Continuing Guaranty. This Guaranty includes Guarantied (a) Each Guarantor guarantees that the Guaranteed Obligations arising under successive transactions continuingwill be paid strictly in accordance with the terms of this Agreement and the other Loan Documents. Each Guarantor agrees that, compromisingto the maximum extent permitted by applicable law, extendingthe Guaranteed Obligations and Loan Documents to which any Borrower is a party may be extended or renewed, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied indebtedness thereunder repaid and reborrowed in whole or in part, without notice to or assent by any of the Guarantors, and that each Guarantor will remain bound upon this Guaranty notwithstanding any extension, renewal or other alteration of any of the Guaranteed Obligations or such Loan Documents or any repayment and reborrowing of Loans to any Borrower. The obligations of each Guarantor under this Guaranty are joint and several and absolute and unconditional irrespective of the value, genuineness, validity, regularity or enforceability of the obligations of the other Guarantors under this Agreement or any other Loan Document or any substitution, release or exchange of any other guarantee of or security for the Obligations. To the maximum extent permitted by applicable law, except as otherwise expressly provided in this Agreement or any other Loan Document to which any Guarantor is a party, the obligations of each Guarantor hereby waives any right to revoke under this Guaranty as shall be absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms hereof under any circumstances whatsoever, including: (i) any modification, amendment, supplement, renewal, extension for any period, increase, decrease, alteration or rearrangement of all or any part of the Guaranteed Obligations, or of this Agreement or any other Loan Document executed in connection herewith, or any contract or understanding among the Bermuda Parent, U.S. Holdings, U.S. Borrower, the U.K. Borrower, the Dutch Borrower, any other Subsidiary Borrower, any Obligor, the Administrative Agent and/or the Lenders, or any other Person, pertaining to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiverGuaranteed Obligations; (ii) any adjustment, each indulgence, forbearance or compromise that might be granted or given by the Lenders to any Guarantor, any Obligor or any other Person liable on the Guaranteed Obligations; (iii) the insolvency, bankruptcy, arrangement, adjustment, composition, liquidation, disability, dissolution or lack of power of any Guarantor, the U.S. Borrower, the U.K. Borrower, the Dutch Borrower, any other Subsidiary Borrower, or any other Person at any time liable for the payment of all or part of the Guaranteed Obligations; or any dissolution of any Guarantor acknowledges and agrees or any Borrower, or any sale, lease or transfer of any or all of the assets of any Guarantor or any Borrower, or any changes in the shareholders of any Guarantor or any Borrower, or any reorganization of any Guarantor or any Borrower; (iv) the invalidity, illegality or unenforceability of all or any part of the Guaranteed Obligations, or any document or agreement executed in connection with the Guaranteed Obligations, for any reason whatsoever, including the fact that (aA) no such revocation shall be effective until written notice the Guaranteed Obligations, or any part thereof, exceed the amount permitted by law, (B) the act of creating the Guaranteed Obligations, or any part thereof is ultra vires, (C) the officers or representatives executing the docume▇▇▇ ▇r otherwise creating the Guaranteed Obligations acted in excess of their authority, (D) the Guaranteed Obligations or any part thereof violate applicable usury laws, (E) any Guarantor or any Borrower has valid defenses, claims, and offsets (whether at law or in equity, by agreement or by statute) which render the Guaranteed Obligations wholly or partially uncollectible from any Guarantor or any Borrower, (F) the creation, performance, or repayment of the Guaranteed Obligations (or execution, delivery and performance of any document or instrument representing any part of the Guaranteed Obligations or executed in connection with any of the Guaranteed Obligations, or given to secure the repayment of the Guaranteed Obligations) is illegal, uncollectible, legally impossible or unenforceable, or (G) this Agreement, any other Loan Document, or any other document or instrument pertaining to any of the Guaranteed Obligations has been received by Beneficiaries, forged or otherwise is irregular or not genuine or authentic; (bv) no such revocation shall apply to any Guarantied full or partial release of the liability of any Guarantor or any Borrower on the Guaranteed Obligations in existence on such date (including or any subsequent continuation, extension, or renewal part thereof, or change any other Person now or hereafter liable, whether directly or indirectly, jointly, severally, or jointly and severally, to pay, perform, guarantee, or assure the payment of the Guaranteed Obligations or any part thereof; it being recognized, acknowledged, and agreed by each Guarantor that such Guarantor may be required to pay the Guaranteed Obligations in full without assistance or support of any other Person, and that such Guarantor has not been induced to enter into this Guaranty on the interest ratebasis of a contemplation, payment termsbelief, understanding or agreement that any other Person will be liable to perform the Guaranteed Obligations or that the Administrative Agent or any Lender will look to any other Person to perform the Guaranteed Obligations; (vi) the taking or accepting of any other security, collateral or guaranty, or other terms and conditions thereof)assurance of payment, for all or any part of the Guaranteed Obligations; (cvii) no any release, surrender, exchange, subordination, deterioration, waste, loss or impairment of any collateral, property or security, at any time existing in connection with, or assuring or securing payment of, all or any part of the Guaranteed Obligations; (viii) the failure of the Administrative Agent, the Lenders or any other Person to exercise diligence or reasonable care in the preservation, protection, enforcement, sale or other handling or treatment of all or any part of such revocation collateral, property or security; (ix) the fact that any collateral, security or Lien contemplated or intended to be given, created or granted as security for the repayment of the Guaranteed Obligations shall apply not be properly perfected or created, or shall prove to be unenforceable or subordinate to any Guarantied Obligations made or created after other Lien; it being recognized and agreed by each Guarantor that such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries Guarantor is not entering into this Guaranty in existence on the date of such revocation, (d) no payment by any Guarantor, Borrowerreliance on, or from in contemplation of the benefits of, the validity, enforceability, collectibility or value of any other source, prior to of the date of such revocation, shall reduce collateral for the maximum obligation of such Guarantor hereunder, and Guaranteed Obligations; (ex) any payment by any Borrower or from any source Guarantor to the Administrative Agent or any Lender is held to constitute a preference under bankruptcy laws, or for any other than reason either the Administrative Agent or any Lender is required to refund such payment or pay such amount to such Borrower, such Guarantor, or any other Person; or (xi) any other action taken or omitted to be taken with respect to this Agreement, any other Loan Document, the Guaranteed Obligations, or the security and collateral therefor, whether or not such action or omission prejudices Guarantors or increases the likelihood that the Guarantors will be required to pay the Guaranteed Obligations pursuant to the terms hereof; it being the unambiguous and unequivocal intention of each Guarantor that such Guarantor subsequent shall be obligated to pay the Guaranteed Obligations when due, notwithstanding any occurrence, circumstance, event, action, or omission whatsoever, whether contemplated or uncontemplated, and whether or not otherwise or particularly described herein, except for the full and final payment and satisfaction of the Guaranteed Obligations after the termination of all of the Commitments. (b) Each Guarantor further agrees that, to the date of such revocation shall first be applied to that portion fullest extent permitted by law, as between any of the Guarantied Guarantors, on the one hand, and the Lenders and the Administrative Agent, on the other hand, (i) the maturity of any of the Guaranteed Obligations may be accelerated as provided in Article IX for the purposes of this Guaranty, notwithstanding any stay, injunction, or other prohibition preventing such acceleration of the Guaranteed Obligations, and (ii) in the event of any acceleration of any Guaranteed Obligations as to which provided in Article IX, such Guaranteed Obligations (whether or not due and payable) shall forthwith become due and payable by the revocation is effective and which are not, therefore, guarantied hereunder, and to Guarantors for the extent so applied shall not reduce the maximum obligations purpose of such Guarantor hereunderthis Guaranty.

Appears in 1 contract

Sources: Credit Agreement (Weatherford International LTD)

Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuingis an absolute, compromising, extending, increasing, modifying, releasing, or renewing unconditional and continuing guaranty of payment and performance of the Guarantied Obligations, changing and the interest rateobligations of any Guarantor hereunder shall not be released, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part, by any action or thing which might, but for this provision of this Guaranty, be deemed a legal or equitable discharge of a surety or guarantor, other than irrevocable payment and performance in full of the Obligations. To No notice of the maximum extent permitted by lawObligations to which this Guaranty may apply, each or of any renewal or extension thereof need be given to any Guarantor and none of the foregoing acts shall release any Guarantor from liability hereunder. Each Guarantor hereby expressly waives any right to revoke this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written demand of payment, presentment, protest, notice thereof has been received by Beneficiariesof dishonor, nonpayment or nonperformance on any and all forms of the Obligations; (b) no such revocation shall apply notice of acceptance of this Guaranty and notice of any liability to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), which it may apply; (c) no such revocation shall apply to all other notices and demands of any Guarantied Obligations made or created after such date kind and description relating to the extent made Obligations now or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocationhereafter provided for by any agreement, statute, law, rule or regulation; and (d) no payment any and all defenses of the Borrower pertaining to the Obligations except for the defense of discharge by payment. No Guarantor shall be exonerated with respect to such Guarantor’s liabilities under this Guaranty by any Guarantoract or thing except irrevocable payment and performance of the Obligations, Borrowerit being the purpose and intent of this Guaranty that the Obligations constitute the direct and primary obligations of the Guarantors and that the covenants, agreements and all obligations of the Guarantors hereunder be absolute, unconditional and irrevocable. The Guarantors shall be and remain liable for any deficiency remaining after foreclosure of any mortgage, deed of trust or from security agreement securing all or any part of the Obligations, whether or not the liability of the Borrower or any other sourcePerson for such deficiency is discharged pursuant to statute, prior judicial decision or otherwise. The acceptance of this Guaranty by the Agent is not intended and does not release any liability previously existing of any guarantor or surety of any indebtedness of the Borrower to the date of such revocation, shall reduce the maximum obligation of such Guarantor hereunder, and (e) Agent or any payment by Borrower or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations of such Guarantor hereunderLender.

Appears in 1 contract

Sources: Guaranty (Quantum Fuel Systems Technologies Worldwide Inc)

Continuing Guaranty. This Limited Guaranty includes Guarantied Obligations arising under successive transactions continuingmay not be revoked or terminated and shall remain in full force and effect and binding on the Guarantor, compromising, extending, increasing, modifying, releasing, or renewing its successors and permitted assigns until all of the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Guaranteed Obligations have been satisfied indefeasibly paid in full. Notwithstanding the foregoing, or anything express or implied in this Limited Guaranty, this Limited Guaranty shall terminate and the Guarantor shall have no further obligations under this Limited Guaranty as of the earliest of: (i) the Effective Time; (ii) the termination of the Merger Agreement in accordance with its terms by mutual consent of Parent and the Guaranteed Party or in circumstances where Parent would not be obligated to pay the Parent Termination Fee or otherwise make payments to the Guaranteed Party pursuant to the Merger Agreement in respect of the Guaranteed Obligations; and (iii) the date falling six months from the date of any termination of the Merger Agreement in accordance with its terms under circumstances in which Parent would be obligated to pay the Parent Termination Fee or otherwise make payments to the Guaranteed Party pursuant to the Merger Agreement in respect of the Guaranteed Obligations, if the Guaranteed Party has not presented a claim for payment of any Guaranteed Obligations to the Guarantor by the last day of such six-month period, provided that such claim shall set forth in reasonable detail the basis for such claim. Notwithstanding the foregoing, or anything express or implied in this Limited Guaranty, in the event that the Guaranteed Party or any of its controlledAffiliates asserts in any litigation or other proceeding (including arbitration pursuant to Section 12 hereof) relating to this Limited Guaranty that the provisions of Section 1 hereof limiting the Guarantor’s liability for the Guaranteed Obligations to the Guarantor’s Cap or the provisions of this Section 9 or Section 10 hereof are illegal, invalid or unenforceable in whole or in part. To , asserts that the maximum Guarantor is liable in respect of the Guaranteed Obligations in excess of or to a greater extent permitted by lawthan the Guarantor’s Cap, or asserts any theory of liability against any Recourse Party (as defined in Section 10 hereof) other than the Retained Claims (as defined in Section 10 hereof), or against any Non-Recourse Party (as defined in Section 10 hereof), in each case, with respect to this Limited Guaranty, the Merger Agreement, any other agreement or instrument delivered in connection with this Limited Guaranty or the Merger Agreement, or the transactions contemplated hereby or thereby, then: (i) the obligations of the Guarantor hereby waives under this Limited Guaranty shall terminate ab initio and be null and void, (ii) if the Guarantor has previously made any right to revoke payments under this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiverLimited Guaranty, each Guarantor acknowledges and agrees that (a) no such revocation he shall be effective until written notice thereof has been received by Beneficiaries, (b) no entitled to recover and retain such revocation shall apply to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in payments from the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocation, (d) no payment by any Guarantor, Borrower, or from any other source, prior to the date of such revocation, shall reduce the maximum obligation of such Guarantor hereunderGuaranteed Party, and (eiii) none of the Non-Recourse Parties and Recourse Parties shall have any payment by Borrower liability whatsoever (whether at law or from any source other than such Guarantor subsequent in equity, whether sounding in contract, tort, statute or otherwise) to the date of such revocation shall first be applied to that portion of Guaranteed Party or its controlled Affiliates in any way under this Limited Guaranty, the Guarantied Obligations as to which Merger Agreement, any other agreement or instrument delivered in connection with this Limited Guaranty or the revocation is effective and which are notMerger Agreement, therefore, guarantied hereunder, and to or the extent so applied shall not reduce the maximum obligations of such Guarantor hereundertransactions contemplated hereby or thereby.

Appears in 1 contract

Sources: Limited Guaranty (Wang Shuang)

Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions transactions, if any, continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future IndebtednessGuarantied Obligations. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by BeneficiariesAgent, (b) no such revocation shall apply to any Guarantied Obligations in existence on the date of receipt by Agent of such date written notice (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries the Lender Group in existence on the date of such revocation, (d) no payment by any Guarantor, Borrower, or from any other source, prior to the date of Agent’s receipt of written notice of such revocation, revocation shall reduce the maximum obligation of such any Guarantor hereunder, and (e) any payment by Borrower or from any source other than such a Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations obligation of such any Guarantor hereunder.

Appears in 1 contract

Sources: General Continuing Guaranty (Internap Network Services Corp)

Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future IndebtednessGuarantied Obligations, except as expressly set forth at Section 2(c) of this Guaranty. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by BeneficiariesAgent, (b) no such revocation shall apply to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally LIMITED RECOURSE GUARANTY - Page 3 ------------------------- EXECUTION VERSION binding commitment of Beneficiaries Agent in existence on the date of such revocation, (d) no payment by any Guarantor, BorrowerBorrowers, or from any other source, prior to the date of such revocation, revocation shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower Borrowers or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations obligation of such Guarantor hereunder.

Appears in 1 contract

Sources: Limited Recourse Guaranty and Security Agreement (Harolds Stores Inc)

Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future Indebtednessindebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by BeneficiariesFoothill, (b) no such revocation shall apply to any Guarantied Obligations in existence on such date (including including, any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries Foothill in existence on the date of such revocation, (d) no payment by any Guarantor, Borrower, Borrower or from any other source, prior to the date of such revocation, revocation shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor Guarantor, subsequent to the date of such revocation revocation, shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied guaranteed hereunder, and to the extent so applied shall not reduce the maximum obligations obligation of such Guarantor hereunder.

Appears in 1 contract

Sources: Loan and Security Agreement (Bollinger Industries Inc)

Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, may not be revoked or renewing terminated and will remain in full force and effect until the Guarantied indefeasible payment and satisfaction in full of the Guaranteed Obligations, changing will be binding upon the interest rateGuarantor and its successors and assigns, and will inure to the benefit of, and be enforceable by, the Company and its successors and permitted assigns. Notwithstanding the foregoing, this Guaranty will terminate and the Guarantor will have no further rights or obligations under this Guaranty as of the earliest of (i) the Effective Time, (ii) the valid termination of the Merger Agreement by Parent and the Company pursuant to Section 10.01 of the Merger Agreement under circumstances in which none of the Guaranteed Obligations is payable, (iii) the payment termsof the Parent Termination Fee or an amount of the Guaranteed Obligations equal to the Maximum Liability Cap (unless any portion is legally compelled by judicial order or otherwise to be returned by the Company), and (iv) the 150-day anniversary following termination of the Merger Agreement in accordance with its terms unless prior to such 150-day anniversary (x) the Company shall have delivered a written notice to the Guarantor with respect to any of the Guaranteed Obligations in accordance with the terms hereof or (y) the Company shall have commenced a suit, action or other terms proceeding alleging that Guaranteed Obligations are due and conditions thereofpayable under this Guaranty; provided, that with respect to clause (iv), if the Merger Agreement has been terminated and such notice has been provided or creating new such suit, action or additional Guarantied Obligations other proceeding has been commenced, the Guarantor will have no further liability or obligation under this Guaranty from and after prior Guarantied Obligations have been satisfied the earlier of (x) a final, nonappealable order of a court of competent jurisdiction in accordance with Section 12 hereof determining that the Guarantor does not owe any amount under this Guaranty and (y) a written agreement between the Guarantor and the Company that specifically references this Section 6(iv) in which the Company acknowledges that the obligations and liabilities of the Guarantor pursuant to this Guaranty are terminated. Notwithstanding the foregoing, in the event that the Company or any of its Affiliates asserts in any litigation or other proceeding that the provisions of Section 1 hereof limiting the Guarantor’s liability to the Maximum Liability Cap or any other provisions of this Guaranty are illegal, invalid or unenforceable in whole or in part. To , or asserting any claim or theory of liability against any Parent Party or Non-Recourse Party, other than (A) claims against Parent or Merger Sub pursuant to the maximum extent permitted by lawMerger Agreement for the remedies under the Merger Agreement, each but subject to the limitations therein, (B) claims against the Guarantor hereby waives any right to revoke under this Guaranty as for any of the Guaranteed Obligations, but subject to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by Beneficiarieslimitations herein, (bC) no such revocation shall apply claims by the Company to any Guarantied Obligations specifically enforce the Equity Financing Commitment in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment accordance with its terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date but only to the extent made or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocation, (d) no payment by any Guarantor, Borrower, or from any other source, prior to the date of such revocation, shall reduce the maximum obligation of such Guarantor hereunderexpressly set forth therein, and (eD) claims against ▇▇▇▇▇▇▇▇▇▇▇ Partners, L.P. under the Confidentiality Agreement, then (x) the obligations of the Guarantor under this Guaranty will terminate ab initio and be null and void, (y) if the Guarantor has previously made any payment by Borrower payments under this Guaranty, it will be entitled to recover such amounts from the Company, and (z) no Parent Party or from any source other than such Guarantor subsequent Non-Recourse Party will have any liability to the date Company or any of such revocation shall first be applied its Affiliates with respect to the transactions contemplated by the Merger Agreement, the agreements executed in connection therewith, including this Guaranty and the Equity Financing Commitment, or the transactions contemplated thereby; provided that portion the foregoing will not affect the right of the Guarantied Obligations as Company to which assert any claim under the revocation Confidentiality Agreement against the other party thereto. The Company acknowledges that the Guarantor is effective and which are not, therefore, guarantied hereunder, and agreeing to enter into this Guaranty in reliance on the extent so applied shall not reduce the maximum obligations provisions set forth in this Section 6. This Section 6 will survive termination of such Guarantor hereunderthis Guaranty.

Appears in 1 contract

Sources: Guaranty (Globecomm Systems Inc)

Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing is an unconditional and continuing guaranty of payment and agreement to pay to the Guarantied Creditor the amount of any payment made by the Creditor of the Obligations, changing and the interest rateobligations of the Guarantor hereunder shall not be released, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part, by any action or thing which might, but for this provision of this Guaranty, be deemed a legal or equitable discharge of a surety or guarantor, other than irrevocable payment to the Creditor by the Guarantor in full of the Obligations. To No notice of any renewal or extension of the maximum extent permitted by law, each Obligations need be given to the Guarantor. The Guarantor hereby expressly waives any right to revoke this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written demand of payment, presentment, protest, notice thereof has been received by Beneficiariesof dishonor, nonpayment or nonperformance on any and all forms of the Obligations or the Norwest Debt; (b) no such revocation shall apply notice of acceptance of this Guaranty and notice of any liability to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), which it may apply; (c) no such revocation shall apply to all other notices and demands of any Guarantied Obligations made or created after such date kind and description relating to the extent made Obligations or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocationNorwest Debt now or hereafter provided for by any agreement, statute, law, rule or regulation; and (d) no payment by any Guarantor, Borrower, or from any other source, prior and all defenses of the Creditor pertaining to the date Obligations or of such revocationthe Debtor with respect to the Norwest Debt. The Guarantor shall be and remain liable for any deficiency remaining after foreclosure of any mortgage, deed of trust or security agreement securing all or any part of the Obligations. Notwithstanding the terms of this Guaranty to the contrary, the Guarantor shall reduce not be liable under this Guaranty at any time when (A) either (I) a Creditor Default has occurred and is continuing or (II) the maximum obligation of such Guarantor hereunderNorwest Obligations have been assigned to the Creditor, and (eB) the Debtor is in compliance with the Norwest Obligations which have been assigned or otherwise transferred from the Lender to the Creditor by contract, subrogation or any payment by Borrower other means, provided that, after such assignment or from transfer has occurred, at any source time any Event of Default other than such a Creditor Default occurs and is continuing, the Guarantor subsequent to the date of such revocation shall first thereafter be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations of such Guarantor hereunderliable under this Guaranty.

Appears in 1 contract

Sources: Guaranty (Life Usa Holding Inc /Mn/)

Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future IndebtednessGuarantied Obligations. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by BeneficiariesAgent, (b) no such revocation shall apply to any Guarantied Obligations in existence on the date of receipt by Agent of such date written notice (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries the Lender Group in existence on the date of such revocation, (d) no payment by any Guarantor, Borrowerthe Borrowers, or from any other source, prior to the date of Agent’s receipt of written notice of such revocation, revocation shall reduce the maximum obligation of such any Guarantor hereunder, and (e) any payment by Borrower the Borrowers or from any source other than such any Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations obligation of such any Guarantor hereunder.

Appears in 1 contract

Sources: Us General Continuing Guaranty (Exide Technologies)

Continuing Guaranty. This Guaranty includes Guarantied (a) WIL-Switzerland guarantees that the Guaranteed Obligations arising under successive transactions continuingshall be paid strictly in accordance with the terms of the Credit Agreement and the other Loan Documents; provided that if payment in respect of any Guaranteed Obligations shall be due in a currency other than Dollars and if, compromisingby reason of any legal prohibition, extendingdisruption of currency or foreign exchange markets, increasing, modifying, releasing, war or renewing the Guarantied Obligations, changing the interest ratecivil disturbance or other event, payment termsof such Guaranteed Obligations in such currency shall be impossible or, in the reasonable judgment of the Administrative Agent, the Issuing Bank or other terms any Lender, not consistent with the protection of its rights or interests, then, at the election of the Administrative Agent, the Issuing Bank or such Lender, WIL-Switzerland shall make payment of the Dollar Equivalent of such Guaranteed Obligations and conditions thereofshall indemnify the Administrative Agent, the Issuing Bank or creating new such Lender against any losses or additional Guarantied expenses (including losses or expenses resulting from fluctuations in exchange rates) that it shall sustain as a result of such alternative payment. WIL-Switzerland agrees that, to the maximum extent permitted by applicable law, the Guaranteed Obligations after prior Guarantied Obligations have been satisfied and Loan Documents to which the Borrower is a party may be extended or renewed, and indebtedness thereunder repaid and reborrowed in whole or in part, without notice to or assent by WIL-Switzerland, and that WIL-Switzerland shall remain bound upon this Guaranty notwithstanding any extension, renewal or other alteration of any of the Guaranteed Obligations or such Loan Documents or any repayment and reborrowing of Loans to the Borrower. The obligations of WIL-Switzerland under this Guaranty are absolute and unconditional irrespective of the value, genuineness, validity, regularity or enforceability of the obligations of the Borrower under the Credit Agreement or any other Loan Document or any substitution, release or exchange of any other guarantee of or security for the Obligations. To the maximum extent permitted by applicable law, each Guarantor hereby waives except as otherwise expressly provided in the Credit Agreement or any right other Loan Document to revoke which WIL-Switzerland is a party, the obligations of WIL-Switzerland under this Guaranty as shall be absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms hereof under any circumstances whatsoever, including: (i) any modification, amendment, supplement, renewal, extension for any period, increase, decrease, alteration or rearrangement of all or any part of the Guaranteed Obligations, or of the Credit Agreement or any other Loan Document executed in connection therewith, or any contract or understanding among the Borrower, any Guarantor, the Administrative Agent, the Issuing Bank or the Lenders, or any other Person, pertaining to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiverGuaranteed Obligations; (ii) any adjustment, each indulgence, forbearance or compromise that might be granted or given by the Administrative Agent, the Issuing Bank or the Lenders to WIL-Switzerland, any other Guarantor, the Borrower or any other Person liable on the Guaranteed Obligations; (iii) the insolvency, bankruptcy, arrangement, adjustment, composition, liquidation, disability, dissolution or lack of power of WIL-Switzerland, any other Guarantor, the Borrower or any other Person at any time liable for the payment of all or part of the Guaranteed Obligations; or any dissolution or winding up of WIL-Switzerland, any other Guarantor acknowledges and agrees or the Borrower, or any sale, lease or transfer of any or all of the assets of WIL-Switzerland, any other Guarantor or the Borrower, or any changes in the shareholders of WIL-Switzerland, any other Guarantor or the Borrower, or any reorganization of WIL-Switzerland, any other Guarantor or the Borrower; (iv) the invalidity, illegality or unenforceability of all or any part of the Guaranteed Obligations, or any document or agreement executed in connection with the Guaranteed Obligations, for any reason whatsoever, including the fact that (aA) no such revocation shall be effective until written notice the Guaranteed Obligations, or any part thereof, exceed the amount permitted by law, (B) the act of creating the Guaranteed Obligations, or any part thereof is ultra ▇▇▇▇▇, (C) the officers or representatives executing the documents or otherwise creating the Guaranteed Obligations acted in excess of their authority, (D) the Guaranteed Obligations or any part thereof violate applicable usury laws, (E) WIL-Switzerland, any other Guarantor or the Borrower has valid defenses, claims, and offsets (whether at law or in equity, by agreement or by statute) which render the Guaranteed Obligations wholly or partially uncollectible from WIL-Switzerland, any other Guarantor or the Borrower, (F) the creation, performance, or repayment of the Guaranteed Obligations (or execution, delivery and performance of any document or instrument representing any part of the Guaranteed Obligations or executed in connection with any of the Guaranteed Obligations, or given to secure the repayment of the Guaranteed Obligations) is illegal, uncollectible, legally impossible or unenforceable, or (G) the Credit Agreement, any other Loan Document, or any other document or instrument pertaining to any of the Guaranteed Obligations has been received by Beneficiariesforged or otherwise is irregular or not genuine or authentic; (v) any full or partial release of the liability of WIL-Switzerland, (b) no such revocation shall apply to any Guarantied other Guarantor or the Borrower on the Guaranteed Obligations in existence on such date (including or any subsequent continuation, extension, or renewal part thereof, or change any other Person now or hereafter liable, whether directly or indirectly, jointly, severally, or jointly and severally, to pay, perform, guarantee, or assure the payment of the Guaranteed Obligations or any part thereof; it being recognized, acknowledged, and agreed by WIL-Switzerland that WIL-Switzerland may be required to pay the Guaranteed Obligations in full without assistance or support of any other Person, and that WIL-Switzerland has not been induced to enter into this Guaranty on the interest ratebasis of a contemplation, payment termsbelief, understanding or agreement that any other Person shall be liable to perform the Guaranteed Obligations or that the Administrative Agent, the Issuing Bank or any Lender shall look to any other Person to perform the Guaranteed Obligations; (vi) the taking or accepting of any other security, collateral or guaranty, or other terms and conditions thereof)assurance of payment, for all or any part of the Guaranteed Obligations; (cvii) no any release, surrender, exchange, subordination, deterioration, waste, loss or impairment of any collateral, property or security, at any time existing in connection with, or assuring or securing payment of, all or any part of the Guaranteed Obligations; (viii) the failure of the Administrative Agent, the Lenders, the Issuing Bank or any other Person to exercise diligence or reasonable care in the preservation, protection, enforcement, sale or other handling or treatment of all or any part of such revocation collateral, property or security; (ix) the fact that any collateral, security or Lien contemplated or intended to be given, created or granted as security for the repayment of the Guaranteed Obligations shall apply not be properly perfected or created, or shall prove to be unenforceable or subordinate to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries other Lien; it being recognized and agreed by WIL-Switzerland that WIL-Switzerland is not entering into this Guaranty in existence on the date of such revocation, (d) no payment by any Guarantor, Borrowerreliance on, or from in contemplation of the benefits of, the validity, enforceability, collectibility or value of any other source, prior to of the date of such revocation, shall reduce collateral for the maximum obligation of such Guarantor hereunder, and Guaranteed Obligations; (ex) any payment by Borrower the Borrower, WIL-Switzerland or from any source other than such Guarantor subsequent to the date Administrative Agent, the Issuing Bank or any Lender is held to constitute a preference under bankruptcy or insolvency laws, or for any other reason either the Administrative Agent, the Issuing Bank or any Lender is required to refund such payment or pay such amount to the Borrower, WIL-Switzerland, any other Guarantor or any other Person; or (xi) any other action taken or omitted to be taken with respect to the Credit Agreement, this Guaranty, any other Loan Document, the Guaranteed Obligations, or the security and collateral therefor, whether or not such action or omission prejudices WIL-Switzerland or increases the likelihood that WIL-Switzerland shall be required to pay the Guaranteed Obligations pursuant to the terms hereof; it being the unambiguous and unequivocal intention of such revocation WIL-Switzerland that WIL-Switzerland shall first be applied obligated to that portion pay the Guaranteed Obligations when due, notwithstanding any occurrence, circumstance, event, action, or omission whatsoever, whether contemplated or uncontemplated, and whether or not otherwise or particularly described herein, except for the full and final payment and satisfaction of the Guarantied Guaranteed Obligations after the termination of all of the Commitments. (b) WIL-Switzerland further agrees that, to the fullest extent permitted by law, as between WIL-Switzerland, on the one hand, and the Administrative Agent, the Issuing Bank and the Lenders, on the other hand, (i) the maturity of the Obligations may be accelerated as provided in Section 9.01 of the Credit Agreement for the purposes of this Guaranty, notwithstanding any stay, injunction or other prohibition preventing the acceleration of the Obligations as to which against the revocation is effective Borrower and which are not(ii) in the event of any purported acceleration (whether by declaration or automatic) of the Obligations as provided in Section 9.01 of the Credit Agreement, therefore, guarantied hereunder, the Obligations (whether or not due and to payable) shall forthwith become due and payable by WIL-Switzerland for the extent so applied shall not reduce the maximum obligations purpose of such Guarantor hereunderthis Guaranty.

Appears in 1 contract

Sources: Guaranty Agreement (Weatherford International Ltd./Switzerland)

Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuingis an absolute, compromisingunconditional, extending, increasing, modifying, releasing, or renewing complete and continuing guaranty of payment and performance of the Guarantied Obligations, changing and the interest rateobligations of the Guarantor hereunder shall not be released, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part, by any action or thing which might, but for this provision of this Guaranty, be deemed a legal or equitable discharge of a surety or guarantor, other than irrevocable payment and performance in full of the Obligations. To No notice of the maximum extent permitted by lawObligations to which this Guaranty may apply, each or of any renewal or extension thereof need be given to the Guarantor and none of the foregoing acts shall release the Guarantor from liability hereunder. The Guarantor hereby expressly waives any right to revoke this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written demand of payment, presentment, protest, notice thereof has been received by Beneficiariesof dishonor, nonpayment or nonperformance on any and all forms of the Obligations; (b) no such revocation shall apply notice of acceptance of this Guaranty and notice of any liability to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), which it may apply; (c) no such revocation shall apply to all other notices and demands of any Guarantied Obligations made or created after such date kind and description relating to the extent made Obligations now or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocationhereafter provided for by any agreement, statute, law, rule or regulation; and (d) no payment any and all defenses of the Issuer pertaining to the Obligations except for the defense of discharge by payment. The Guarantor shall not be exonerated with respect to the Guarantor's liabilities under this Guaranty by any Guarantoract or thing except irrevocable payment and performance of the Obligations, Borrowerit being the purpose and intent of this Guaranty that the Obligations constitute the direct and primary obligations of the Guarantor and that the covenants, agreements and all obligations of the Guarantor hereunder be absolute, unconditional and irrevocable. The Guarantor shall be and remain liable for any deficiency remaining after foreclosure of any mortgage, deed of trust or from security agreement securing all or any part of the Obligations, whether or not the liability of the Issuer or any other sourcePerson for such deficiency is discharged pursuant to statute, prior judicial decision or otherwise. The acceptance of this Guaranty by the Purchasers is not intended to, and does not release any liability previously existing of any other guarantor or surety of any indebtedness of the Issuer to the date of such revocation, shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations of such Guarantor hereunderPurchasers.

Appears in 1 contract

Sources: Note Agreement (Oneida LTD)

Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuingis an absolute, compromising, extending, increasing, modifying, releasing, or renewing unconditional and continuing guaranty of payment and performance of the Guarantied Obligations, changing and the interest rateobligations of the Guarantor hereunder shall not be released, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part, by any action or thing which might, but for this provision of this Guaranty, be deemed a legal or equitable discharge of a surety or guarantor, other than irrevocable payment and performance in full of the Obligations. To No notice of the maximum extent permitted by lawObligations to which this Guaranty may apply, each or of any renewal or extension thereof need be given to the Guarantor and none of the foregoing acts shall release the Guarantor from liability hereunder. The Guarantor hereby expressly waives any right to revoke this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written demand of payment, presentment, protest, notice thereof has been received by Beneficiariesof dishonor, nonpayment or nonperformance on any and all forms of the Obligations; (b) no such revocation shall apply notice of acceptance of this Guaranty and notice of any liability to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), which it may apply; (c) no such revocation shall apply to all other notices and demands of any Guarantied Obligations made or created after such date kind and description relating to the extent made Obligations now or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocationhereafter provided for by any agreement, statute, law, rule or regulation; and (d) no payment any and all defenses of the Borrower pertaining to the Obligations except for the defense of discharge by payment. The Guarantor shall not be exonerated with respect to the Guarantor’s liabilities under this Guaranty by any Guarantoract or thing except irrevocable payment and performance of the Obligations, Borrowerit being the purpose and intent of this Guaranty that the Obligations constitute the direct and primary obligations of the Guarantor and that the covenants, agreements and all obligations of the Guarantor hereunder be absolute, unconditional and irrevocable. The Guarantor shall be and remain liable for any deficiency remaining after foreclosure of any mortgage, deed of trust or from security agreement securing all or any part of the Obligations, whether or not the liability of the Borrower or any other sourcePerson for such deficiency is discharged pursuant to statute, prior judicial decision or otherwise. The acceptance of this Guaranty by the Lender is not intended and does not release any liability previously existing of any guarantor or surety of any indebtedness of the Borrower to the date of such revocation, shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations of such Guarantor hereunderLender.

Appears in 1 contract

Sources: Guaranty (Quantum Fuel Systems Technologies Worldwide Inc)

Continuing Guaranty. This Guaranty includes Guarantied Guaranteed Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Guaranteed Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Guaranteed Obligations after prior Guarantied Guaranteed Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future Indebtednessindebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by BeneficiariesAgent and Lenders, (b) no such revocation shall apply to any Guarantied Guaranteed Obligations in existence on such date (including including, any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Guaranteed Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries Agent and Lenders in existence on the date of such revocation, (d) no payment by any Guarantor, any Borrower, or from any other source, prior to the date of such revocation, revocation shall reduce the maximum obligation of such any Guarantor hereunder, and (e) any payment by any Borrower or from any source other than such Guarantor any Guarantor, subsequent to the date of such revocation revocation, shall first be applied to that portion of the Guarantied Guaranteed Obligations as to which the revocation is effective and which are not, therefore, guarantied guaranteed hereunder, and to the extent so applied shall not reduce the maximum obligations obligation of such any Guarantor hereunder.

Appears in 1 contract

Sources: Continuing Guaranty (Midway Games Inc)

Continuing Guaranty. 10. 01Guaranty. Each Guarantor hereby absolutely and unconditionally, jointly and severally guarantees, as primary obligor and as a guaranty of payment and performance and not merely as a guaranty of collection, prompt payment when due, whether at stated maturity, by required prepayment, upon acceleration, demand or otherwise, and at all times thereafter, of any and all Secured Obligations (for each Guarantor, subject to the proviso in this sentence, its “Guaranteed Obligations”); provided, that, (a) the Guaranteed Obligations of a Guarantor shall exclude any Excluded Swap Obligations with respect to such Guarantor, and (b) the liability of each Guarantor individually with respect to this Guaranty shall be limited to an aggregate amount equal to the largest amount that would not render its obligations hereunder subject to avoidance under Section 548 of the Bankruptcy Code of the United States or any comparable provisions of any applicable state law. Without limiting the generality of the foregoing, the Guaranteed Obligations shall include any such indebtedness, obligations, and liabilities, or portion thereof, which may be or hereafter become unenforceable or compromised or shall be an allowed or disallowed claim under any proceeding or case commenced by or against any Loan Party under any Debtor Relief Laws. The Administrative Agent’s books and records showing the amount of the Obligations shall be admissible in evidence in any action or proceeding, and shall be binding upon each Guarantor, and conclusive for the purpose of establishing the amount of the Secured Obligations. This Guaranty includes Guarantied shall not be affected by the illegality, genuineness, validity, regularity or enforceability of the Secured Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasingor any instrument or agreement evidencing any Secured Obligations, or renewing by the Guarantied Obligationsexistence, changing the interest ratevalidity, payment termsenforceability, perfection, non-perfection or extent of any collateral therefor, or other terms and conditions thereofby any fact or circumstance relating to the Secured Obligations which might otherwise constitute a defense to the obligations of the Guarantors, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To the maximum extent permitted by lawany of them, under this Guaranty, ​ ​ ​ and each Guarantor hereby irrevocably waives any right to revoke this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by Beneficiaries, (b) no such revocation shall apply defenses it may now have or hereafter acquire in any way relating to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocation, (d) no payment by any Guarantor, Borrower, or from any other source, prior to the date of such revocation, shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion all of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations of such Guarantor hereunderforegoing.

Appears in 1 contract

Sources: Credit Agreement (AeroVironment Inc)

Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future IndebtednessGuarantied Obligations. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by BeneficiariesAgent, (b) no such revocation shall apply to any Guarantied Obligations in existence on the date of receipt by Agent of such date written notice (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries the Lender Group in existence on the date of such revocation, (d) no payment by any Guarantor, BorrowerBorrowers, or from any other source, prior to the date of Agent’s receipt of written notice of such revocation, revocation shall reduce the maximum obligation of such each Guarantor hereunder, and (e) any payment by Borrower Borrowers or from any source other than such Guarantor the Guarantors subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations obligation of such Guarantor the Guarantors hereunder.

Appears in 1 contract

Sources: General Continuing Guaranty (American Commercial Lines Inc.)

Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no This Guaranty is an unconditional, irrevocable and continuing guaranty of payment of the Obligations. No notice of the Obligations to which this Guaranty may apply, or of any renewal or extension thereof need be given to the Guarantor; provided, however, that Minnetronix shall notify Guarantor promptly of any default by QIG of the Obligations, but any delay by Minnetronix in giving such revocation notice shall be effective until written not constitute a waiver of its rights hereunder. The Guarantor hereby expressly waives (a) notice thereof has been received by Beneficiaries, of acceptance of this Guaranty and notice of any liability to which it may apply; and (b) no such revocation all other notices of any kind and description relating to creation of the Obligations now or hereafter provided for by any agreement, statute, law, rule or regulation. The Guarantor shall apply to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date not be exonerated with respect to the extent made Guarantor’s liabilities under this Guaranty except by the discharge or created pursuant to a legally binding commitment irrevocable payment of Beneficiaries in existence on the date Obligations, it being the purpose and intent of such revocationthis Guaranty that the Obligations constitute the direct and primary obligations of the Guarantor and that the covenants, agreements and all obligations of the Guarantor hereunder be irrevocable. (db) no payment by any Guarantor, Borrower, or from any other source, prior Notwithstanding anything to the date of such revocationcontrary set forth in Section 4(a) above, Minnetronix shall reduce have no legal right to enforce this Guaranty if the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion amount of the Guarantied Obligations as to which and/or whether the revocation Obligations are due and owing is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations of such Guarantor hereunderbeing disputed in good faith by QIG.

Appears in 1 contract

Sources: Business Agreement (Nuvectra Corp)

Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuingis an absolute, compromisingunconditional, extending, increasing, modifying, releasing, or renewing complete and continuing guaranty of payment and performance of the Guarantied Obligations, changing and the interest rateobligations of the Guarantor hereunder shall not be released, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part, by any action or thing which might, but for this provision of this Guaranty, be deemed a legal or equitable discharge of a surety or guarantor, other than irrevocable payment and performance in full of the Obligations. To No notice of the maximum extent permitted by lawObligations to which this Guaranty may apply, each or of any renewal or extension thereof need be given to the Guarantor and none of the foregoing acts shall release the Guarantor from liability hereunder. The Guarantor hereby expressly waives any right to revoke this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written demand of payment, presentment, protest, notice thereof has been received by Beneficiariesof dishonor, nonpayment or nonperformance on any and all forms of the Obligations; (b) no such revocation shall apply notice of acceptance of this Guaranty and notice of any liability to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), which it may apply; (c) no such revocation shall apply to all other notices and demands of any Guarantied Obligations made or created after such date kind and description relating to the extent made Obligations now or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocationhereafter provided for by any agreement, statute, law, rule or regulation; and (d) no payment any and all defenses of the Issuer pertaining to the Obligations except for the defense of discharge by payment. The Guarantor shall not be exonerated with respect to the Guarantor's liabilities under this Guaranty by any Guarantoract or thing except irrevocable payment and performance of the Obligations, Borrowerit being the purpose and intent of this Guaranty that the Obligations constitute the direct and primary obligations of the Guarantor and that the covenants, agreements and all obligations of the Guarantor hereunder be absolute, unconditional and irrevocable. The Guarantor shall be and remain liable for any deficiency remaining after foreclosure of any mortgage, deed of trust or from security agreement securing all or any part of the Obligations, whether or not the liability of the Issuer or any other sourcePerson for such deficiency is discharged pursuant to statute, prior judicial decision or otherwise. The acceptance of this Guaranty by the Purchasers is not intended to, and does not release any liability previously existing of any other guarantor or surety of an indebtedness of the Issuer to the date of such revocation, shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations of such Guarantor hereunderPurchasers.

Appears in 1 contract

Sources: Note Agreement (Oneida LTD)

Continuing Guaranty. THIS IS A “CONTINUING GUARANTY” UNDER WHICH ▇▇▇▇▇▇▇▇▇ AGREES TO GUARANTEE THE FULL AND PUNCTUAL PAYMENT, PERFORMANCE AND SATISFACTION OF THE INDEBTEDNESS OF BORROWER, OR ANY ONE OR MORE OF THEM, TO LENDER, NOW EXISTING OR HEREAFTER ARISING OR ACQUIRED, ON AN OPEN AND CONTINUING BASIS. ACCORDINGLY, ANY PAYMENTS MADE ON THE INDEBTEDNESS WILL NOT DISCHARGE OR DIMINISH GUARANTOR’S OBLIGATIONS AND LIABILITY UNDER THIS GUARANTY FOR ANY REMAINING AND SUCCEEDING INDEBTEDNESS EVEN WHEN ALL OR PART OF THE OUTSTANDING INDEBTEDNESS MAY BE A ZERO BALANCE FROM TIME TO TIME. DURATION OF GUARANTY. This Guaranty includes Guarantied Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasingwill take effect when received by Lender without the necessity of any acceptance by ▇▇▇▇▇▇, or renewing any notice to Guarantor or to Borrower, and will continue in full force until all the Guarantied Obligations, changing the interest rate, payment terms, Indebtedness incurred or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor’s other obligations under this Guaranty shall have been performed in whole or in partfull. To the maximum extent permitted by law, each If Guarantor hereby waives any right elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be mailed to Lender, by certified mail, at ▇▇▇▇▇▇’s address listed above or such other place as Lender may designate in writing. Written revocation of this Guaranty will apply only to new Indebtedness created after actual receipt by ▇▇▇▇▇▇ of Guarantor’s written revocation. For this purpose and without limitation, the term “new Indebtedness” does not include the Indebtedness which at the time of notice of revocation is contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. For this purpose and without limitation, “new Indebtedness” does not include all or part of the Indebtedness that is: incurred by Borrower prior to revocation; incurred under a commitment that became binding before revocation; any renewals, extensions, substitutions, and modifications of the Indebtedness. This Guaranty shall bind Guarantor’s estate as to future Indebtednessthe Indebtedness created both before and after Guarantor’s death or incapacity, regardless of Lender’s actual notice of Guarantor’s death. If such a Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may terminate this Guaranty in the same manner in which Guarantor might have terminated it and with the same effect. Release of any other guarantor or termination of any other guaranty of the Indebtedness shall not affect the liability of Guarantor under this Guaranty. A revocation Lender receives from any one or more Guarantors shall not affect the liability of any remaining Guarantors under this Guaranty. It is effective notwithstanding anticipated that fluctuations may occur in the foregoing waiveraggregate amount of the Indebtedness covered by this Guaranty, each and Guarantor specifically acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by Beneficiaries, (b) no such revocation shall apply to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change reductions in the interest rateamount of the Indebtedness, payment terms, or other terms and conditions thereofeven to zero dollars ($0.00), (c) no such revocation shall apply to not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor’s heirs, successors and assigns so long as any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocation, (d) no payment by any Guarantor, Borrower, or from any other source, prior to the date of such revocation, shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as Indebtedness remains unpaid and even though the Indebtedness may from time to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations of such Guarantor hereundertime be zero dollars ($0.00).

Appears in 1 contract

Sources: Commercial Guaranty (LBBB Merger Corp.)

Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that that: (a) no such revocation shall be effective until written notice thereof has been received by Beneficiaries, Guarantied Party; (b) no such revocation shall apply to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), ; (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries Guarantied Party in existence on the date of such revocation, ; (d) no payment by any Guarantor, BorrowerDebtor, or from any other source, prior to the date of such revocation, revocation shall reduce the maximum obligation of such any Guarantor hereunder, ; and (e) any payment by Borrower any Debtor or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the remaining maximum obligations obligation of such Guarantor hereunder.

Appears in 1 contract

Sources: Financing Agreement (Gart Sports Co)

Continuing Guaranty. This Guaranty includes Guarantied all present and future Guaranteed Obligations arising including any under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Guaranteed Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Guaranteed Obligations after prior Guarantied Guaranteed Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future IndebtednessGuaranteed Obligations. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by BeneficiariesAgent, (b) no such revocation shall apply to any Guarantied Guaranteed Obligations in existence on the date of receipt by Agent of such date written notice (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Guaranteed Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries any Lender in existence on the date of such revocation, (d) no payment by any Guarantor, any Borrower, or from any other source, prior to the date of Agent’s receipt of written notice of such revocation, revocation shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower Borrowers or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Guaranteed Obligations as to which the revocation is effective and which are not, therefore, guarantied guaranteed hereunder, and to the extent so applied shall not reduce the maximum obligations obligation of such Guarantor hereunder. This Guaranty shall be binding upon each Guarantor, its successors and assigns and inure to the benefit of and be enforceable by Agent (for the benefit of the Lenders) and its successors, transferees, or assigns.

Appears in 1 contract

Sources: Guaranty and Security Agreement (DT Acceptance Corp)

Continuing Guaranty. This Guaranty includes Guarantied any and all Guaranteed Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Guaranteed Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Guaranteed Obligations after prior Guarantied Guaranteed Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future IndebtednessLiabilities. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by BeneficiariesLender, (b) no such revocation shall apply to any Guarantied Guaranteed Obligations in existence on such date (including including, but not limited to, any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Guaranteed Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries Lender in existence on the date of such revocation, (d) no payment by any Guarantor, Borrower, or from any other source, prior to the date of such revocation, revocation shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor Guarantor, subsequent to the date of such revocation revocation, shall first be applied to that portion of the Guarantied Guaranteed Obligations as to which the revocation is effective and which are not, therefore, guarantied guaranteed hereunder, and to the extent so applied shall not reduce the maximum obligations obligation of such Guarantor hereunder.

Appears in 1 contract

Sources: Guaranty (Advocat Inc)

Continuing Guaranty. (a) This is an irrevocable, absolute, continuing guaranty of payment and performance, and is not a guaranty of collection. This Guaranty includes Guarantied may not be revoked by Guarantor and shall continue to be effective with respect to the Guaranteed Obligations arising or created after any attempted revocation by Guarantor and after (if Guarantor is a natural person) Guarantor’s death (in which event this Guaranty shall be binding upon Guarantor’s estate and Guarantor’s legal representatives and heirs). It is the intent of Guarantor and Secured Party that the obligations and liabilities of Guarantor hereunder are absolute and unconditional under successive transactions continuingany and all circumstances and that until the Guaranteed Obligations are fully and finally satisfied, compromising, extending, increasing, modifying, releasing, such obligations and liabilities of Guarantor shall not be discharged or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied released in whole or in part, by any act or occurrence which might, but for the provisions of this Guaranty, be deemed a legal or equitable discharge or release of Guarantor. To The fact that at any time or from time to time the maximum extent permitted Guaranteed Obligations may be increased or reduced shall not release or discharge the obligation of Guarantor to Secured Party with respect to the Guaranteed Obligations. This Guaranty may be enforced by lawSecured Party and any subsequent holder of the Note and shall not be discharged by the assignment, each Guarantor hereby waives any right to revoke this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding sale, pledge, transfer, participation or negotiation of all or part of the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by Beneficiaries, Note. (b) no such revocation Subject to Section 1.2(c) of this Guaranty, this Guaranty shall apply survive the exercise of remedies following an Event of Default, including but not limited to any Guarantied a foreclosure of the Security Instruments by Secured Party or Administrative Agent and shall remain in full force and effect until (i) the occurrence of Full Repayment and the performance of all Obligations in existence on such date and (including any subsequent continuation, extension, or renewal thereof, or change in ii) the interest rate, payment terms, or other terms full performance and conditions thereof), satisfaction by Guarantor of the Guaranteed Obligations. (c) no This Guaranty shall continue to be effective or be reinstated, as the case may be, if at any time payment or any part thereof of the Loan is rescinded, held to constitute a preference under applicable bankruptcy laws or must otherwise be restored, refunded or returned by Administrative Agent upon the insolvency, bankruptcy, dissolution, liquidation or the reorganization of Borrower or upon or as a result of the appointment of a receiver, liquidator, intervenor, custodian or conservator of, or trustee or similar officer for, Borrower or any substantial part of its property, or otherwise, all as though such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocation, payments had not been made. (d) no payment The Guaranteed Obligations and the liabilities and obligations of Guarantor to Secured Party hereunder shall not be reduced, discharged or released because or by reason of any Guarantorexisting or future offset, Borrower, claim or from defense of Borrower or any other source, prior to Person against Secured Party or against payment of the date of such revocation, shall reduce the maximum obligation of such Guarantor hereunder, and Guaranteed Obligations (e) any payment by Borrower or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion actual payment or performance of the Guarantied Guaranteed Obligations), whether such offset, claim or defense arises in connection with the Guaranteed Obligations as to which (or the revocation is effective and which are not, therefore, guarantied hereunder, and to transactions creating the extent so applied shall not reduce the maximum obligations of such Guarantor hereunderGuaranteed Obligations) or otherwise.

Appears in 1 contract

Sources: Loan and Security Agreement (Vinebrook Homes Trust, Inc.)

Continuing Guaranty. In consideration of extension of credit by us to you and/or forbearance from immediate collection of any existing indebtedness of you to us, the Guarantor (herein “Guarantor” whether one or more) hereby unconditionally guarantees, jointly and severally, punctual payment and performance of all your obligations, present and future, to us including all collection cost, court costs and attorney’s fees. This Guaranty includes Guarantied Obligations shall be continuing and unlimited and may be terminated only upon 30 days’ written notice to the us. Any cancellation of this Guaranty shall not relieve Guarantor of any obligations of Guarantor hereunder arising prior to the effective date of such cancellation. We may exercise our rights under successive transactions continuingthis Guaranty without first taking any action against you. Guarantor shall be bound hereunder even if you for any reason are not liable in law or equity to pay part or all of your obligations to us (e.g. if you are deemed incompetent, compromisingdo not have the capacity to create or be bound to pay such obligation, extending, increasing, modifying, releasingdo not legally exist, or renewing do not properly and lawfully authorize the Guarantied Obligationscreation of such obligation). Guarantor acknowledges that Guarantor will receive a direct and material benefit from you covered by the terms of this Guaranty. We shall be entitled to enforce the obligations of this Guaranty against the Guarantor without regard to the filing of any bankruptcy or insolvency proceedings by you. Guarantor hereby authorizes Guarantor’s creditors and references, changing including, but not limited to, those listed on the interest ratecredit application, payment termsto release to us whatever information may be contained in their files pertaining to personal and financial dealings with Guarantor, and grant us permission to complete any credit investigation of Guarantor, including but not limited to, reports by a credit reporting agency or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in partentity. To the maximum extent permitted by law, each Guarantor hereby waives all notices, demands, and presentations relating to any right to revoke extension of credit or default. No subsequent activities by us or transactions between us other than payment (including, but not limited to, extensions of due dates or release of substitutions or collateral security) shall affect Guarantors obligations under this Guaranty. Post judgement interest shall accrue on all sums due under this Guaranty as at the post judgement interest rate applicable to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by Beneficiaries, (b) no such revocation shall apply to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocation, (d) no payment by any Guarantor, Borrower, or from any other source, prior to the date of such revocation, shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations of such Guarantor hereunderus.

Appears in 1 contract

Sources: Terms and Conditions of Credit

Continuing Guaranty. This Guaranty includes Guarantied OCI and OTI shall each be liable for its Guaranteed Obligations, plus accrued interest thereon and all attorneys' fees, collection costs and enforcement expenses referable thereto. Guaranteed Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasingmay be created and continued in any amount without affecting or impairing the liability of OCI or OTI therefor. No notice of such Guaranteed Obligations already or hereafter contracted or acquired by KTI, or renewing any renewal or extension of any thereof need be given to OCI or OTI and none of the Guarantied Obligationsforegoing acts shall release OCI or OTI from liability hereunder. The agreement of OCI or OTI pursuant to the Credit Agreement with respect to its Guaranteed Obligations is an absolute, changing unconditional and continuing guaranty of payment of such Guaranteed Obligations and shall continue to be in force and be binding upon OCI or OTI until such Guaranteed Obligations are paid in full and the interest rateCredit Agreement is terminated, payment termsand KTI may continue, at any time and without notice to such Borrower, to extend credit or other terms financial accommodations and conditions loan monies to or for the benefit of the other on the faith thereof. Each of OCI and OTI hereby waives, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To to the maximum fullest extent permitted by law, each Guarantor hereby waives any right they may have to revoke this Guaranty as or terminate its guaranty of the Guaranteed Obligations before the Guaranteed Obligations are paid in full and the Credit Agreement is terminated. In the event either OCI or OTI shall have any right under applicable law to future Indebtedness. If otherwise terminate or revoke its guaranty of the Guaranteed Obligations which cannot be waived, such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such termination or revocation shall not be effective until written notice thereof has been of such termination or revocation, signed by person, is actually received by Beneficiaries, (b) no KTI's officer responsible for such matters. Any notice of termination or revocation described above shall apply to any Guarantied not affect OCI's or OTI's guaranty of the Guaranteed Obligations in existence on such date relation to (including i) any subsequent continuation, extension, of the Guaranteed Obligations that arose prior to receipt thereof or renewal (ii) any of the Guaranteed Obligations created after receipt thereof, if such Guaranteed Obligations were incurred through loans by KTI , and/or for the purpose of protecting any collateral, including, but not limited, to all protective advances, costs, expenses, and attorneys' and paralegals' fees, whensoever made, advanced or change incurred by KTI in connection with the interest rateGuaranteed Obligations. If, payment termsin reliance on either OCI or OTI's guaranty of its 11 Guaranteed Obligations, KTI makes loans or other terms and conditions thereof), (c) no such revocation shall apply advances to any Guarantied Obligations made or created for the benefit of the other or takes other action under this Agreement after such date to aforesaid termination or revocation by the extent made or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocation, (d) no payment by any Guarantor, Borrower, or from any other source, undersigned but prior to the date receipt by KTI of said written notice as set forth above, the rights of KTI shall be the same as if such revocation, shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower termination or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall had not reduce the maximum obligations of such Guarantor hereunderoccurred.

Appears in 1 contract

Sources: Letter Loan Agreement (Kti Inc)

Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, shall be continuing and shall be binding upon Guarantor regardless of how long before or renewing after the Guarantied Obligations, changing the interest rate, payment terms, date hereof any Obligation was or is incurred. Credit may be granted or continued from time to time by Clearwire to [HOLDCO/NEWCO] without notice to or authorization from Guarantor regardless of [HOLDCO/NEWCO]'s then-existing financial or other terms and conditions thereofcondition. Notwithstanding the foregoing, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in parthowever, Guarantor may limit its obligations hereunder by delivery of written notice to such effect to Clearwire. To the maximum extent permitted by law, each Guarantor hereby waives any right Such notice will limit Guarantor's obligations hereunder to revoke this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no Obligations incurred by [HOLDCO/NEWCO], or arising out of acts or omissions of [HOLDCO/NEWCO] occurring, on or prior to a date five (5) business days after such revocation shall be effective until written notice thereof has been is received by Beneficiaries, Clearwire; (b) no such revocation shall apply to any Guarantied Obligations in existence on such date (including any subsequent continuationextensions, extensionrenewals, or renewal thereof, or change in the interest rate, payment terms, or other terms modifications of such Obligations; and conditions thereof), (c) no any additional fees and expenses incurred by Clearwire (including attorneys' fees and costs) in seeking to enforce or collect such revocation Obligations. Guarantor agrees that this Guaranty shall apply continue to be effective or shall be reinstated as the case may be if at any Guarantied time any payment to Clearwire of any of the Obligations made is rescinded or created after must be restored or returned by Clearwire upon the insolvency, bankruptcy or reorganization of [HOLDCO/NEWCO] all as though such date to payment had not been made. In the extent made event this Guaranty is preceded or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocation, (d) no payment followed by any Guarantorother agreement of suretyship or guaranty by Guarantor or others, Borrowerall shall be deemed to be cumulative, or from and the obligations of Guarantor hereunder shall be in addition to those stated in any other source, prior to the date of such revocation, shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower suretyship or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations of such Guarantor hereunderguaranty agreement.

Appears in 1 contract

Sources: Spectrum Access and Loan Facility Agreement (Clearwire Corp)

Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuingis an absolute, compromisingunconditional, extending, increasing, modifying, releasing, or renewing complete and continuing guaranty of payment and performance of the Guarantied Obligations, changing and the interest rateobligations of the Guarantor hereunder shall not be released, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part, by any action or thing which might, but for this provision of this Guaranty, be deemed a legal or equitable discharge of a surety or guarantor, other than irrevocable payment and performance in full of the Obligations. To No notice of the maximum extent permitted by lawobligations to which this Guaranty may apply, each or of any renewal or extension thereof need be given to Guarantor and none of the foregoing acts shall release Guarantor from liability hereunder. Guarantor hereby expressly waives any right to revoke this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written demand of payment, presentment, protest, notice thereof has been received by Beneficiariesof dishonor, nonpayment or nonperformance on any and all forms of the Obligations; (b) no such revocation shall apply notice of acceptance of this Guaranty and notice of any liability to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), which it may apply; (c) no such revocation shall apply to all other notices and demands of any Guarantied Obligations made or created after such date kind and description relating to the extent made Obligations now or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocationhereafter provided for by any agreement, statute, law, rule or regulation; and (d) no payment any and all defenses of Borrower pertaining to the Obligations except for the defense of discharge by payment. Guarantor shall not be exonerated with respect to its liabilities under this Guaranty by any Guarantoract or thing except irrevocable payment and performance of the Obligations, Borrowerit being the purpose and intent of this Guaranty that the obligations constitute the direct and primary obligations of Guarantor and that the covenants, agreements and all obligations of Guarantor hereunder be absolute, unconditional and irrevocable. If any payment received by Lender, its successors or from any other sourceassigns, prior and applied to the date Obligations is subsequently set aside, recovered, rescinded or required to be returned for any reason (including, without limitation, the bankruptcy or insolvency of Guarantor), the Obligations to which such revocationpayment was applied shall be deemed to have continued in existence, shall reduce the maximum obligation of notwithstanding such Guarantor hereunderapplication, and (e) any payment by Borrower or from any source other than the provisions of this Guaranty shall be enforceable as to such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as fully as if such application had never been made. References to which the revocation is effective amounts "irrevocably paid" and which are not"irrevocable payment" refer to payments that cannot be set aside, thereforerecovered, guarantied hereunder, and rescinded or required to the extent so applied shall not reduce the maximum obligations of such Guarantor hereunderbe returned for any reason.

Appears in 1 contract

Sources: Guaranty (Holiday Rv Superstores Inc)

Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions transactions, in accordance with this Agreement and the Loan Documents, continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future IndebtednessGuaranteed Obligations. If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by BeneficiariesAgent, (b) no such revocation shall apply to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereofthereof in accordance with this Agreement and the other Loan Documents), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries a Lender in existence on the date of such revocation, (d) no payment by any Guarantor, any Borrower, or from any other source, prior to the date of such revocation, revocation shall reduce the maximum obligation of such Guarantor Guarantors hereunder, and (e) any payment by U.K. Borrower or from any source other than such a Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations obligation of such Guarantor Guarantors hereunder.

Appears in 1 contract

Sources: Credit Agreement (MSX International Inc)

Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuing, compromising, extending, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future IndebtednessGuarantied Obligations (unless the Guarantied Obligations have been Paid in Full or unless the sale of such Guarantor as permitted by Section 19 hereof has occurred). If such a revocation is effective notwithstanding the foregoing waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by BeneficiariesSecured Parties, (b) no such revocation shall apply to any Guarantied Obligations in existence on such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries Secured Parties in existence on the date of such revocation, (d) no payment by any Guarantor, any Borrower, or from any other source, prior to the date of such revocation, shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by any Borrower or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations of such Guarantor hereunder.

Appears in 1 contract

Sources: Credit Agreement (Deckers Outdoor Corp)