Multiple Guarantors. If there is more than one Guarantor: (a) the obligations, covenants, warranties and representations of each Guarantor shall be joint and several; (b) the granting of a written release of liability hereunder of less than all of the Guarantors shall be effective with respect to the liability hereunder only of those specifically so released, but shall in no way affect the liability hereunder of any Guarantor not so released; and (c) each Guarantor waives any right to require Lender to proceed against any other Guarantor. Any prior or subsequent guaranty to Lender shall not be deemed to be in lieu of or to supersede or terminate this Guaranty but shall be construed as an additional or supplementary guaranty unless otherwise expressly provided therein.
Appears in 2 contracts
Sources: Guaranty of Non Recourse Carve Outs (Bluerock Residential Growth REIT, Inc.), Guaranty of Non Recourse Carve Outs (Grubb & Ellis Healthcare REIT II, Inc.)
Multiple Guarantors. If there is more than one Guarantor:
guarantor of the Guaranteed Obligations: (a) the obligations, covenants, warranties and representations of each Guarantor guarantor shall be joint and several;
; (b) the granting of a written release of liability hereunder of less than all of the Guarantors guarantors shall be effective with respect to the liability hereunder of only of those specifically so released, but shall in no way affect the liability hereunder of any Guarantor guarantor not so released; and
and (c) each Guarantor guarantor waives any right to require Lender to proceed against any other Guarantorguarantor. Any prior or subsequent guaranty to Lender shall not be deemed to be in lieu of or to supersede or terminate this Guaranty Guaranty, but shall be construed as an additional or supplementary guaranty unless otherwise expressly provided thereinherein.
Appears in 2 contracts
Sources: Revolving Line of Credit and Term Loan Agreement (National Investment Managers Inc.), Guaranty (National Investment Managers Inc.)
Multiple Guarantors. If Agrees that, if there is more than one Guarantor:
(a) the 15.1 The obligations, covenants, warranties and representations of each Guarantor shall be joint and several;
(b) the 15.2 The granting of a written release of liability hereunder of less than all of the Guarantors shall be effective with respect to the liability hereunder of only of those specifically so released, but shall in no way affect the liability hereunder of any Guarantor not so released; and
(c) each 15.3 Each Guarantor waives any right to require Lender to proceed against any other Guarantor. Any prior or subsequent guaranty to Lender shall not be deemed to be in lieu of or to supersede or terminate this Guaranty but shall be construed as an additional or supplementary guaranty unless otherwise expressly provided therein.
Appears in 1 contract
Sources: Guaranty (Neptune Society Inc/Fl)