Guarantees by Guarantors Sample Clauses
The "Guarantees by Guarantors" clause establishes the obligation of one or more parties (the guarantors) to ensure the performance or payment obligations of another party, typically the principal debtor, under a contract. In practice, this means that if the principal debtor fails to fulfill their contractual duties, the guarantors are legally required to step in and satisfy those obligations, such as repaying a loan or completing a service. This clause provides assurance to the beneficiary (often a lender or service recipient) that they will receive what is due, thereby reducing the risk of non-performance or default.
Guarantees by Guarantors. Subject to this Indenture and unless provided otherwise under any Board Resolution or indenture supplement hereto, each Guarantor hereby jointly and severally, irrevocably, fully and unconditionally guarantees to the Trustee and the Holder of any Security issued under this Indenture duly authenticated and delivered by the Trustee, the due and punctual payment of the principal, and premium, if any, of (including any amount in respect of original issue discount) and interest, if any (together with any Additional Amounts payable pursuant to the terms of any such Security), on any such Security and the due and punctual payment of the sinking fund payments, if any, and analogous obligations, if any, provided for pursuant to the terms of any such Security, when and as the same shall become due and payable, whether at Stated Maturity or upon redemption, repayment or upon declaration of acceleration or otherwise according to the terms of any such Security and of the Indenture. In case of default by the Company in the payment of any such principal (including any amount in respect of original issue discount), and any premium or interest (together with any Additional Amounts payable pursuant to the terms of any such Security), sinking fund payment, or analogous obligation, each Guarantor agrees, duly and punctually to pay the same when and as the same shall become due and payable. Each Guarantor hereby agrees that its obligations hereunder shall be as principal and not merely as surety and shall be absolute and unconditional irrespective of any extension of the time for payment of any such Security, any modification of any such Security, any invalidity, irregularity or unenforceability of any such Security or the Indenture, any failure to enforce the same or any waiver, modification, consent or indulgence granted to the Company with respect thereto by the holder of any such Security or the Trustee, or any other circumstances which may otherwise constitute a legal or equitable discharge of a surety or guarantor. Each Guarantor hereby waives diligence, presentment, demand of payment, filing of claims with a court in the event of merger or bankruptcy of the Company, any right to require a demand or proceeding first against the Company, protest or notice with respect to any such Security or the indebtedness evidenced thereby and all demands whatsoever, and covenants that this Guarantee will not be discharged as to any such Security except by payment in full of the princi...
Guarantees by Guarantors. 6 SECTION 3. Grant of Transaction Liens....................................... 8 SECTION 4.
Guarantees by Guarantors. (a) Secured Guarantees
(b) Secured Guarantees Unconditional
(c) Release of Secured Guarantees
(d) Waiver by Loan Parties
(e) Subrogation
(f) Stay of Acceleration
(g) Right of Set-Off (h) Continuing Guarantee
(i) Limitation on Obligations of Guarantor
Guarantees by Guarantors
