Common use of Multiple Guarantors Clause in Contracts

Multiple Guarantors. (a) Where the Guarantee is given by or on behalf of more than one person, the expression “the Guarantor(s)” shall be construed as referring to each such person individually and any one or more of such person collectively, and all agreements, obligations, liabilities, representations, warranties and undertakings of the Guarantor(s) contained or implied in this Guarantee are joint and several and shall be construed accordingly. The expression “the Guarantor(s)” herein extends to all persons who are intended to or have agreed to be guarantors of the Customer in relation to all persons who are intended to or have agreed to be guarantors of the Customer in relation to Guaranteed Amounts notwithstanding that they have not co-jointly affixed their signatures to one single copy of this Guarantee so long as they sign individual copies of this Guarantee and notwithstanding that such signing may be at different times and places. (b) Each of the parties comprising the Guarantor(s) hereby agrees and consents severally to be bound by this Guarantee, notwithstanding that any others whom it is intended should sign or be bound by this Guarantee may not do so or be effectively bound hereby, and notwithstanding that this Guarantee may be invalid or unenforceable against any one or more of the parties comprising the Guarantee, whether or not the deficiency is known to CGC and notwithstanding the obligations of any other of them hereunder has determined or been discounted for any reason whatsoever. CGC shall be entitled to release any one or more of the parties comprising the Guarantor(s) from this Guarantee, to compound with or otherwise vary or agree to vary the liability of, or to grant time or other indulgence to, or make other arrangements with, any one or more of the parties comprising the Guarantor(s), without prejudicing or affecting CGC’s rights, powers and remedies against any others of the parties comprising the Guarantor(s). (c) CGC shall be entitled to release any one or more of the parties comprising the Guarantor(s) from this Guarantee, to compound with or otherwise vary or agree to vary the liability of, or to grant time or other indulgence to, or make other arrangements with, any one or more of the parties comprising the Guarantor(s), without prejudicing or affecting CGC’s rights, powers and remedies against any others of the parties comprising the Guarantor(s). (d) Any notice served pursuant to this Guarantee on any party comprising the Guarantor(s). (e) CGC may make a demand under this Guarantee on any one or more of the persons comprising the Guarantor(s) without being required to make a demand at the same time or at any other on any person comprising the Guarantor(s).

Multiple Guarantors. (a) Where the Guarantee is given by or on behalf of more than one person, the expression “the Guarantor(s)” shall be construed as referring to each such person individually and any one or more of such person collectively, and all agreements, obligations, liabilities, representations, warranties and undertakings of the Guarantor(s) contained or implied in this Guarantee are joint and several and shall be construed accordingly. The expression “the Guarantor(s)” herein extends to all persons who are intended to or have agreed to be guarantors of the Customer in relation to all persons who are intended to or have agreed to be guarantors of the Customer in relation to Guaranteed Amounts notwithstanding that they have not co-jointly affixed their signatures to one single copy of this Guarantee so long as they sign individual copies of this Guarantee and notwithstanding that such signing may be at different times and places. (b) Each of the parties comprising the Guarantor(s) hereby agrees and consents severally to be bound by this Guarantee, notwithstanding that any others whom it is intended should sign or be bound by this Guarantee may not do so or be effectively bound hereby, and notwithstanding that this Guarantee may be invalid or unenforceable against any one or more of the parties comprising the Guarantee, whether or not the deficiency is known to CGC and notwithstanding the obligations of any other of them hereunder has determined or been discounted for any reason whatsoever. CGC shall be entitled to release any one or more of the parties comprising the Guarantor(s) from this Guarantee, to compound with or otherwise vary or agree to vary the liability of, or to grant time or other indulgence to, or make other arrangements with, any one or more of the parties comprising the Guarantor(s), without prejudicing or affecting CGC’s rights, powers and remedies against any others of the parties comprising the Guarantor(s). (c) CGC shall be entitled to release any one or more of the parties comprising the Guarantor(s) from this Guarantee, to compound with or otherwise vary or agree to vary the liability of, or to grant time or other indulgence to, or make other arrangements with, any one or more of the parties comprising the Guarantor(s), . without prejudicing or affecting CGC’s rights, powers and remedies against any others of the parties comprising the Guarantor(s). (d) Any notice served pursuant to this Guarantee on any party comprising the Guarantor(s). (e) CGC may make a demand under this Guarantee on any one or more of the persons comprising the Guarantor(s) without being required to make a demand at the same time or at any other on any person comprising the Guarantor(s).