Guarantee Method Clause Samples
The Guarantee Method clause defines the specific process or mechanism by which a guarantor's obligations are to be fulfilled under an agreement. Typically, this clause outlines whether the guarantee is to be executed as a payment guarantee, performance guarantee, or another form, and may specify the conditions or documentation required to trigger the guarantor's responsibility. By clearly establishing how and when the guarantee is to be enforced, this clause ensures both parties understand the practical steps involved, thereby reducing ambiguity and minimizing disputes regarding the guarantor's role.
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Guarantee Method. The Guarantor confirms that it is jointly and severally liable for all debts of the Applicant within the scope of the guarantee specified in Article 2. If the Applicant fails to timely repay the principal and interest and related expenses of the loans, advances and other credited debts owed to the Bank in accordance with the Credit Agreement and/or the specific contract, or when any other default event under the Credit Agreement and/or the specific contract, the Bank has the right to seek recourse from the Guarantor directly without first having to pursue or file a lawsuit against the Applicant. Even if all the debts of the guarantee Applicant under the Credit Agreement can be repaid in time and there is a separate mortgage or pledge or other guarantee, the Bank is also entitled to seek recourse from the Guarantor with respect to all the debts of the Applicant under the Credit Agreement, without handling the goods, or documents under the collateral, pledge or trade finance, and without recourse from other Guarantors. The Bank has the right to urge the Guarantor to make a payment in a manner deemed appropriate, including but not limited to faxing, mailing, special person delivery, public announcements, etc.
Guarantee Method. The guarantee method hereunder is joint and several liability guarantee. If there are more than one guarantors, each guarantor will bear joint and several liabilities with respect to the Creditor.
Guarantee Method. The guarantee under the contract is a joint responsibility.
Guarantee Method. Party B assumes the responsibility of guarantee by joint and several liability guarantee.
Guarantee Method. The guarantor guarantees the guaranteed claims to the loaner by shouldering joint liability.
Guarantee Method. Party B will provide joint and several liability guarantee to the Creditor within the scope specified herein. If Party A fails to repay the debt under the Master Contract when due, the Creditor may demand repayment from Party A and may also demand repayment by Party B on behalf of Party A within the scope and term of the guarantee.
Guarantee Method. Party B shall be jointly and severally liable, with Nanfang Tongzheng, for the relevant obligations under the Share Transfer Agreement.
Guarantee Method. Guarantor provides the joint and several guarantees to Creditor for the secured credit.
Guarantee Method. The way of guarantee agreed herein is detailed in the Maximum Mortgage Contract (No.).
Guarantee Method suretyship. The Guarantor and Party B shall make and enter into a guarantee contract separately. Contract No.: 288500160811000203, 288500160811000204, 288500160811000205, 288500160811000206, 288500160811000207.