Liability as Guarantor Clause Samples
Liability as Guarantor. If the Bond is in payment default, RUS shall be liable to FFB in accordance with the terms of the RUS Guarantee, without regard to the sufficiency of the security or the remedies RUS may enforce against the Borrower.
Liability as Guarantor. If at the time of sale, the Vendor shall be liable or responsible as a guarantor for any debts, liabilities or obligations of the Corporation, the Purchaser shall use its best efforts to cause any and all such guarantees to be released on or before the date of closing and, in the event that the Purchaser shall be unable to deliver up such guarantees, the Purchaser shall indemnify and save harmless the Vendor from all claims arising out of such guarantees.
Liability as Guarantor. If, at the time of sale, the vendor is liable or responsible as a guarantor for any Debt, liabilities or obligations of the Corporation, the purchaser shall use reasonable efforts to cause all such guarantees to be released at or before the time of sale and, if the purchaser is unable to effect the release of such guarantees, the purchaser shall execute and deliver in favour of the vendor an indemnity, in form and substance satisfactory to the vendor, acting reasonably, whereby the purchaser indemnifies and saves harmless the vendor from all claims arising out of such guarantees. If the purchaser is the Corporation, the other Shareholders shall execute and deliver in favour of the vendor an indemnity in form and substance and to the same effect as provided in the immediately preceding sentence.
Liability as Guarantor. If at the time of the Closing the transferor is liable or responsible as a guarantor for any debts, liabilities or obligations of the Corporation, the purchaser shall use reasonable efforts to cause all such guarantees to be released at or before the time of the Closing and, if the purchaser is unable to effect the release of such guarantees, the purchaser shall execute and deliver in favor of the transferor an indemnity, in form and substance satisfactory to the transferor, acting reasonably, whereby the purchaser shall indemnify and save harmless the transferor from all claims arising out of such guarantees. If the purchaser is the Corporation, the Shareholders whose Shares are not being purchased shall execute and deliver in favor of the transferor a joint and several indemnity in form and substance and to the same effect as provided in the immediately preceding sentence.