Guarantied Party Clause Samples
The 'Guarantied Party' clause defines the individual or entity that is entitled to receive the benefits of a guarantee under an agreement. In practice, this clause identifies who will be protected or compensated if the primary obligor fails to fulfill their obligations, such as a lender in a loan agreement or a landlord in a lease. By clearly specifying the Guarantied Party, the clause ensures there is no ambiguity about who can enforce the guarantee, thereby providing certainty and legal protection to the designated party.
Guarantied Party may enforce this Guaranty upon the occurrence of an Event of Default under the Credit Agreement or the occurrence of an Early Termination Date (as defined in a Master Agreement or an Interest Rate Swap Agreement or Interest Rate and Currency Exchange Agreement in the form prepared by the International Swap and Derivatives Association Inc. or a similar event under any similar swap agreement) under any Lender Interest Rate Agreement (either such occurrence being an "Event of Default" for purposes of this Guaranty) notwithstanding the existence of any dispute between Company and any Beneficiary with respect to the existence of such Event of Default.
Guarantied Party may enforce this Guaranty upon the occurrence of an Event of Default notwithstanding the existence of any dispute between Borrower and any Beneficiary with respect to the existence of such Event of Default.
Guarantied Party may enforce this Guaranty upon the occurrence of an Event of Default under the Credit Agreement or the occurrence of an Early Termination Date (as defined in an Interest Rate Agreement in the form prepared by the International Swap and Dealers Association, Inc. or a similar event under any similar swap agreement) under any Interest Rate Agreements (either such occurrence being an "Event of Default" for purposes of this Guaranty).