GUARANTY LIABILITY Clause Samples
GUARANTY LIABILITY. 1. Guarantor's obligations hereunder and under the other Loan Documents shall be in an amount (such amount being referred to herein as the "Maximum Guaranty Liability") equal to, but not in excess of, the maximum liability permitted under Title 11 of the United States Code, any other state or federal laws governing bankruptcy, suspension of payments, reorganization, arrangement, adjustment of debts, dissolution, insolvency, relief of debtors or creditors' rights and any other similar laws ("Applicable Bankruptcy Law"). To the extent such obligations otherwise would be subject to avoidance under Applicable Bankruptcy Law, if Guarantor is deemed not to have received valuable consideration, fair value or reasonably equivalent value for its obligations hereunder or under the other Loan Documents, Guarantor's obligations hereunder and under the other Loan Documents shall be reduced to that amount which, after giving effect thereto, would not render Guarantor insolvent, or leave Guarantor with an unreasonably small capital to conduct its business, or cause Guarantor to have incurred debts (or to be deemed to have intended to incur debts), beyond its ability to pay such debts as they mature, at the time such obligations are deemed to have been incurred under Applicable Bankruptcy Law. As used herein, the terms "insolvent" and "unreasonably small capital" shall likewise be determined in accordance with Applicable Bankruptcy Law. This Paragraph 1 is intended solely to preserve the rights of the Bank hereunder and under the other Loan Documents to the maximum extent permitted by Applicable Bankruptcy Law, and neither the Guarantor nor any other person or entity shall have any right or claim under this Paragraph 1 that otherwise would not be available under Applicable Bankruptcy Law. Guarantor agrees that the Obligations at any time and from time to time may exceed the Maximum Guaranty Liability of Guarantor, without impairing this Guaranty or affecting the rights and remedies of the Bank hereunder.
GUARANTY LIABILITY. The guaranty agency shall guarantee—
(i) 100 percent of the unpaid principal balance of each loan guaranteed for loans disbursed before October 1, 1993;
(ii) Not more than 98 percent of the unpaid principal balance of each loan guaranteed for loans first disbursed on or after October 1, 1993 and before July 1, 2006; and
(iii) Not more than 97 percent of the unpaid principal balance of each loan guaranteed for loans first disbursed on or after July 1, 2006.
GUARANTY LIABILITY. If the borrower fails to repay the debt under the Main Contract terms in a timely manner, the Creditor shall have the right to require the Guarantor perform the guaranty liability in accordance with the provisions of the contract. If the principal debt has other collaterals or guarantees in addition to this contract, any of the Creditor’s rights under this contract and their fulfillment shall not be affected.
GUARANTY LIABILITY. The definition of "Guaranty Liability" shall be added in its proper alphabetical order in Section 16.0 of the Agreement as follows:
GUARANTY LIABILITY. 1. Guarantor's obligations hereunder and under the other Loan Documents shall be in an amount (such amount being referred to herein as the "Maximum Guaranty Liability") equal to, but not in excess of, the maximum liability permitted under Title 11 of the United States Code, any other state or federal laws governing bankruptcy, suspension of payments, reorganization, arrangement, adjustment of debts, dissolution, insolvency, relief of debtors or creditors' rights and any other similar laws ("Applicable Bankruptcy Law"). To the extent such obligations otherwise would be subject to avoidance under Applicable Bankruptcy Law, if Guarantor is deemed not to have received valuable consideration, fair value or reasonably equivalent value for its obligations hereunder or under the other Loan Documents, Guarantor's obligations hereunder and under the other Loan Documents shall be reduced to that amount which, after giving effect thereto, would not render Guarantor insolvent, or leave Guarantor with an unreasonably small capital to conduct its business, or cause Guarantor to have incurred debts (or to be deemed to have intended to incur debts), beyond its ability to pay such debts as they mature, at the time such obligations are deemed to have been incurred under Applicable Bankruptcy Law. As used herein, the terms
GUARANTY LIABILITY. Party B shall be jointly and severally liable for the repayment of all the debts that fall within the scope of guaranty. When the Debtor fails to fulfill its repayment obligations that have fallen due, Party A may claim against the Debtor or against Party B directly in its sole discretion. Party B hereby irrevocably authorizes Party A to deduct the amount of the creditor’s right that has fallen due directly from the bank account of Party B when and if the Debtor fails to fulfill its repayment obligations (at the expiration and earlier expiration of the contract).
GUARANTY LIABILITY. If, under the master contract, the Debtor fails to make repayment to the Mortgagee according to stipulations on any of normal repayment days or early repayment days, the Mortgagee shall have the right to convert the guaranties into cash to exercise priority of compensation in accordance with the Contract. The Mortgagee points out specially that normal repayment day as mentioned herein is the interest payment day stipulated in the master contract, principal repayment day and interest payment day described in the repayment plan, due bill and application, or the date when the Debtor shall pay any funds to the Mortgagee according to such stipulations. The early repayment day as mentioned herein is the early repayment date applied by the Debtor and agreed by the Mortgagee, and the date when the Mortgagee according to the stipulations demands to take back the principal and interests of financing and/or other funds in advance from the Debtor.