Common use of Death, Bankruptcy or Insolvency Clause in Contracts

Death, Bankruptcy or Insolvency. the death, bankruptcy or insolvency of an Obligor, the Guarantor will, as an independent obligation, pay to the Lender on demand the amount which the Lender would otherwise have been able to recover (on a full indemnity basis). This means the Guarantor agrees to be personally liable for repayment of the Loan even if the Lender is prevented, for some technical reason, from enforcing its rights under this Agreement.

Death, Bankruptcy or Insolvency. the death, bankruptcy or insolvency of an Obligor, the Guarantor will, as an independent obligation, pay to the Lender on demand the amount which the Lender would otherwise have been able to recover (on a full afull indemnity basis). This means the Guarantor agrees to be personally liable for repayment of the Loan even if the Lender is prevented, for some technical reason, from enforcing its rights under this Agreement.

Death, Bankruptcy or Insolvency. the death, bankruptcy or insolvency of an ofan Obligor, the Guarantor will, as an independent obligation, pay to the Lender on demand the amount which the Lender would otherwise have been able to recover (on a full indemnity basis). This means the Guarantor agrees to be personally liable for repayment of the Loan even if the Lender is prevented, for some technical reason, from enforcing its rights under this Agreement.