Continuing Nature. This Guaranty is a primary and original obligation of Guarantor and is an absolute, unconditional, continuing and irrevocable guaranty of payment and performance and not of collectibility and is in no way conditioned or contingent upon any action or omission by Lender, including any requirement that Lender first attempt to collect any of the Obligations from Borrower or resort to any security therefor, or upon any other action, occurrence, or circumstance whatsoever other than the failure of Borrower to promptly and completely make any payment due to Lender in respect to the Obligations as and when the same become due and payable, whether at maturity, by acceleration or otherwise. This Guaranty is in addition to, and not in substitution for or in reduction of, any other guaranty by Guarantor or any other guarantor in favor of Lender. This Guaranty shall be continuing and shall not be discharged, impaired or affected by (i) the power or authority or lack thereof of Borrower to incur or contract for the Obligations or to execute, acknowledge or delivery any document, agreement or other instrument evidencing, securing or otherwise executed in connection with the Obligations; (ii) the regularity or irregularity, validity or invalidity, or enforceability or unenforceability of the Obligations; (iii) any defenses or counterclaims whatsoever that Borrower may or might have to the payment or performance of the Obligations or to the assertion of a default under any document, agreement or other instrument evidencing, securing or otherwise executed in connection with the Obligations including, but not limited to, lack of consideration, statute of frauds, infancy, breach of warranty, lender liability, usury, fraud and statute of limitations; (iv) the existence or non-existence of Borrower as a legal entity; (v) the transfer by Borrower of all or any part of the property securing the Obligations except by the permitted assumption; (vi) any right of setoff, counterclaim or defense (other than the payment and performance of the Obligations in full) that Guarantor may or might have to its respective undertakings, liabilities and obligations under this Guaranty, each and every such defense being hereby waived by Guarantor; or (vii) the inability of Lender to claim any amount of interest, fees, costs, or charges from Borrower pursuant to Section 506(b) of the United States Bankruptcy Code, as amended.
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Continuing Nature. This Guaranty is a primary and original obligation of Guarantor and is an absolute, unconditional, continuing and irrevocable guaranty of payment and performance and not of collectibility and is in no way conditioned or contingent upon any action or omission by Lender, including any requirement that Lender first attempt to collect any of the Obligations from Borrower or resort to any security therefor, or upon any other action, occurrence, or circumstance whatsoever other than the failure of Borrower to promptly and completely make any payment due to Lender in respect to the Obligations as and when the same become due and payable, whether at maturity, by acceleration or otherwise. This Guaranty is in addition to, and not in substitution for or in reduction of, any other guaranty by Guarantor or any other guarantor in favor of Lender. This Guaranty shall be continuing and shall not be discharged, impaired or affected by (i) the power or authority or lack thereof of Borrower to incur or contract for the Obligations or to execute, acknowledge or delivery deliver any document, agreement or other instrument evidencing, securing or otherwise executed in connection with the Obligations; (ii) the regularity or irregularity, validity or invalidity, or enforceability or unenforceability of the Obligations; (iii) any defenses or counterclaims whatsoever that Borrower may or might have to the payment or performance of the Obligations or to the assertion of a default under any document, agreement or other instrument evidencing, securing or otherwise executed in connection with the Obligations including, but not limited to, lack of consideration, statute of frauds, infancy, breach of warranty, lender liability, usury, fraud and statute of limitations; (iv) the existence or non-non existence of Borrower as a legal entity; (v) the transfer by Borrower of all or any part of the property securing the Obligations except by the permitted assumptionObligations; (vi) any right of setoff, counterclaim or defense (other than the payment and performance of the Obligations in full) that Guarantor may or might have to its respective undertakings, liabilities and obligations under this Guaranty, each and every such defense being hereby waived by Guarantor; or (vii) the inability of Lender to claim any amount of interest, fees, costs, or charges from Borrower pursuant to Section 506(b) of the United States Bankruptcy Code, as amended.
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