Direct Action Against Guarantor Sample Clauses
The 'Direct Action Against Guarantor' clause allows a party to pursue legal claims directly against a guarantor, rather than first having to exhaust remedies against the primary obligor. In practice, this means that if a borrower defaults on a loan or obligation, the lender can immediately seek payment or performance from the guarantor without waiting to enforce the obligation against the original debtor. This clause is designed to provide the beneficiary with a more efficient and reliable means of recovering losses, reducing delays and uncertainty in the enforcement process.
Direct Action Against Guarantor. Guarantor’s liability under this Guaranty is a guaranty of payment and performance and not of collection. Lender has the right to require Guarantor to pay, comply with and satisfy its obligations and liabilities under this Guaranty, and shall have the right to proceed immediately against Guarantor with respect thereto, without being required to attempt recovery first from Borrower or any other party, without first suing on the Note or any other Loan Document and without demonstrating that the collateral for the Loan is inadequate security or that Lender has exercised (to any degree) or exhausted any of Lender’s other rights and remedies with respect to Borrower or any collateral for the Loan.
Direct Action Against Guarantor. It shall not be necessary for the FCRHA, in order to enforce the Guaranteed Obligations, first to institute suit or exhaust its remedies against Tenant or others liable on such indebtedness, liability, undertaking, or obligation, or to enforce its rights against any security which shall ever have been given to secure the same.
Direct Action Against Guarantor. It shall not be necessary for the County, in order to enforce the Guaranteed Obligations, first to institute suit or exhaust its remedies against Developer or others liable on such indebtedness, liability, undertaking, or obligation, or to enforce its rights against any security which shall ever have been given to secure the same. Each Guarantor acknowledges and agrees that it is a primary party of this Guaranty and not merely a surety of the Development Agreement.
Direct Action Against Guarantor. It shall not be necessary for Landlord, in order to enforce the Guaranteed Obligations, first to institute suit or exhaust its remedies against Tenant or others liable on such indebtedness, liability, undertaking, or obligation, or to enforce its rights against any security which shall ever have been given to secure the same. Guarantor acknowledges and agrees that it is a primary party of this Guaranty and not merely a surety of the Ground Lease.
Direct Action Against Guarantor. The Landlord shall have and may ------------------------------- exercise, in addition to all other rights, privileges, or remedies available to it hereunder, the specific right and remedy, exercisable by the Landlord, in its discretion, to ▇▇▇ for and obtain specific performance by Guarantor of Guarantor's covenants set forth herein, all at the cost of the Guarantor.
Direct Action Against Guarantor. Lender has the right to require Guarantor to pay, comply with and satisfy its obligations and liabilities under this Guaranty, and shall have the right to proceed immediately against Guarantor with respect thereto, without being required to attempt recovery first from Borrower or any other party, without first suing on the Note or any other Loan Document and without demonstrating that the collateral for the Loan is inadequate security or that Lender has exercised (to any degree) or exhausted any of Lender’s other rights and remedies with respect to Borrower or any collateral for the Loan.