Common use of Maturity of Obligations, Payment Clause in Contracts

Maturity of Obligations, Payment. The Guarantor agrees that if the maturity of the Obligations is accelerated by bankruptcy or otherwise, such maturity shall also be deemed accelerated for the purpose of this Guaranty Agreement without demand or notice to the Guarantor. The Guarantor will, forthwith upon notice from the Administrative Agent of the Company's failure to pay the Obligations at maturity, pay to the Administrative Agent for the benefit of the Agents and the Lenders at the Administrative Agent's Principal Office, the amount due and unpaid by the Company and guaranteed hereby. The failure of the Administrative Agent to give this notice shall not in any way release the Guarantor hereunder.

Appears in 9 contracts

Samples: Guaranty Agreement (United Meridian Corp), Guaranty Agreement (Ocean Energy Inc), Guaranty Agreement (Ocean Energy Inc)

AutoNDA by SimpleDocs

Maturity of Obligations, Payment. The Guarantor agrees that if the maturity of the Obligations is accelerated by bankruptcy or otherwise, such maturity shall also be deemed accelerated for the purpose of this Guaranty Agreement without demand or notice to the Guarantor. The Guarantor will, forthwith upon notice from the Administrative Agent of the CompanyBorrower's failure to pay the Obligations at maturity, pay to the Administrative Agent for the benefit of the Agents Agent and the Lenders at the Administrative Agent's Principal Office, the amount due and unpaid by the Company Borrower and guaranteed hereby. The failure of the Administrative Agent to give this notice shall not in any way release the Guarantor hereunder.

Appears in 6 contracts

Samples: Guaranty Agreement (Corrida Resources Inc), Guaranty Agreement (Queen Sand Resources Inc), Guaranty Agreement (Queen Sand Resources Inc)

Maturity of Obligations, Payment. The Guarantor agrees that if the maturity of the Obligations is accelerated by bankruptcy or otherwise, such maturity shall also be deemed accelerated for the purpose of this Guaranty Agreement without demand or notice to the Guarantor. The Guarantor will, forthwith upon notice from the Administrative Agent of the Company's failure to pay the Obligations at maturity, pay to the Administrative Agent for the benefit of the Agents Administrative Agent and the Lenders at the Administrative Agent's Principal Office, the amount due and unpaid by the Company and guaranteed hereby. The failure of the Administrative Agent to give this notice shall not in any way release the Guarantor hereunder.

Appears in 6 contracts

Samples: Guaranty Agreement (Ocean Energy Inc), Guaranty Agreement (Ocean Energy Inc), Guaranty Agreement (Ocean Energy Inc)

Maturity of Obligations, Payment. The Guarantor agrees that if the maturity of the Obligations is accelerated by bankruptcy or otherwise, such maturity shall also be deemed accelerated for the purpose of this Guaranty Agreement without demand or notice to the Guarantor. The Guarantor will, forthwith upon notice from the Administrative Collateral Agent on behalf of the CompanyLender Group of the Borrower's failure to pay the Obligations at maturity, pay to the Administrative Agent for the benefit of the Agents and the Lenders at the Administrative Agent's Principal Office, Lender Group the amount due and unpaid by the Company Borrower and guaranteed hereby. The failure of Collateral Agent or the Administrative Agent Lender Group to give this notice shall not in any way release the Guarantor hereunder.

Appears in 3 contracts

Samples: Guaranty Agreement (Corrida Resources Inc), Guaranty Agreement (Corrida Resources Inc), Guaranty Agreement (Corrida Resources Inc)

AutoNDA by SimpleDocs

Maturity of Obligations, Payment. The Guarantor agrees that if the maturity of the Obligations is accelerated by bankruptcy or otherwise, such maturity shall also be deemed accelerated for the purpose of this Guaranty Agreement without demand or notice to the Guarantor. The Guarantor will, forthwith upon notice from the Administrative Agent of the Company's failure to pay the Obligations at maturity, pay to the Administrative Agent for the benefit of the Agents and the Lenders Banks at the Administrative Agent's Principal Office, the amount due and unpaid by the Company and guaranteed hereby. The failure of the Administrative Agent to give this notice shall not in any way release the Guarantor hereunder.

Appears in 2 contracts

Samples: Guaranty Agreement (Ocean Energy Inc /Tx/), Revolving Credit Agreement (Ocean Energy Inc /Tx/)

Time is Money Join Law Insider Premium to draft better contracts faster.