Nature of Guarantor's Liability Sample Clauses

Nature of Guarantor's Liability. No Exoneration or Subrogation Until All Obligations Fully Satisfied.
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Nature of Guarantor's Liability. Guarantor agrees that Guarantor’s payment obligations under this Guaranty Agreement are an independent contractual undertaking on the part of Guarantor, and that Guarantor’s liability to City shall be joint and several with Developer’s obligations and/or liability to City under the Development Agreement. Guarantor further agrees that City’s remedies against Guarantor for breach of this Guaranty Agreement shall be separate and distinct from its remedies against Developer, and City may, at its sole option, proceed directly against Guarantor without first proceeding against Developer. Neither the failure of City in any particular instance to insist upon Guarantor’s strict performance, nor the granting by City of any particular indulgence, forbearance or concession to either Guarantor or Developer, shall operate as a waiver on the part of City to thereafter insist upon Guarantor’s strict performance of this Guaranty Agreement. Xxxxxxxxx agrees that, absent an express agreement in writing to the contrary signed by City, this Guaranty Agreement shall be irrevocable by Guarantor until such time as the Developer’s obligations under the Development Agreement have been fully satisfied and the City has released Developer from any further obligations thereunder.
Sample 1
Nature of Guarantor's Liability. The liability of the Guarantor under this Guarantee is continuing, absolute and unconditional and will not be affected by any act, omission, event or circumstance that might constitute a legal or equitable defence to or a discharge, limitation or reduction of the liability of the Guarantor hereunder, other than as a result of the indefeasible payment in full of the Obligations, including:
Sample 1
Nature of Guarantor's Liability. Guarantor agrees that Guarantor's payment obligations under this Guaranty Agreement are an independent contractual undertaking on the part of Guarantor, and that Guarantor's liability to NFS shall be joint and several with SignalShare's obligations towards NFS under the Loan Agreements. The obligations of Guarantor hereunder are a guaranty of payment and not of collection. Guarantor further agrees that NFS's remedies against Guarantor for breach of this Guaranty Agreement shall be separate and distinct from its remedies against SignalShare, and NFS may, at its sole option, proceed directly against Guarantor without first proceeding against SignalShare. Neither the failure of NFS in any particular instance to insist upon Guarantor's strict performance, nor the granting by NFS of any particular indulgence, forbearance or concession to either Guarantor or SignalShare, shall operate as a waiver on the part of NFS to thereafter insist upon Guarantor's strict performance of this Guaranty Agreement. Guarantor agrees that, absent an express agreement in writing to the contrary signed by NFS, this Guaranty Agreement shall be irrevocable by Guarantor until such time as the SignalShare’s obligations under the Loan Documents have terminated and all sums due NFS thereunder have been paid in full.
Sample 1
Nature of Guarantor's Liability. The obligations and liabilities of Guarantor under this Guaranty are independent of the obligations and liabilities of AMT, and a separate action or actions may be brought and prosecuted against Guarantor whether action is brought against AMT or any other guarantor or Person, or whether AMT or any other guarantor or Person are joined in any such action or actions. As used in this Guaranty, "Person" means any individual or entity.
Sample 1
Nature of Guarantor's Liability. The obligations and liabilities of Guarantors under this Guaranty are joint and several and independent of the obligations of Corporation and a separate action or actions may be brought and prosecuted against Guarantors whether action is
Sample 1

Related to Nature of Guarantor's Liability

  • Liability of Guarantors Absolute Each Guarantor agrees that its obligations hereunder are irrevocable, absolute, independent and unconditional and shall not be affected by any circumstance which constitutes a legal or equitable discharge of a guarantor or surety other than payment in full of the Guaranteed Obligations. In furtherance of the foregoing and without limiting the generality thereof, each Guarantor agrees as follows:

  • Nature of Guaranty This Guaranty Agreement is an absolute, irrevocable, completed and continuing guaranty of payment and not a guaranty of collection, and no notice of the Liabilities or any extension of credit already or hereafter contracted by or extended to Borrower need be given to Guarantor. This Guaranty Agreement may not be revoked by Guarantor and shall continue to be effective with respect to debt under the Liabilities arising or created after any attempted revocation by Guarantor and shall remain in full force and effect until the Liabilities are paid in full and the Commitments are terminated, notwithstanding that from time to time prior thereto no Liabilities may be outstanding. Borrower and the Lenders may modify, alter, rearrange, extend for any period and/or renew from time to time the Liabilities, and the Lenders may waive any Default or Events of Default without notice to the Guarantor and in such event Guarantor will remain fully bound hereunder on the Liabilities. This Guaranty Agreement shall continue to be effective or be reinstated, as the case may be, if at any time any payment of the Liabilities is rescinded or must otherwise be returned by any of the Lenders upon the insolvency, bankruptcy or reorganization of Borrower or otherwise, all as though such payment had not been made. This Guaranty Agreement may be enforced by the Agent and any subsequent holder of any of the Liabilities and shall not be discharged by the assignment or negotiation of all or part of the Liabilities. Guarantor hereby expressly waives presentment, demand, notice of non-payment, protest and notice of protest and dishonor, notice of Default or Event of Default, notice of intent to accelerate the maturity and notice of acceleration of the maturity and any other notice in connection with the Liabilities, and also notice of acceptance of this Guaranty Agreement, acceptance on the part of the Agent for the benefit of the Lenders being conclusively presumed by the Lenders’ request for this Guaranty Agreement and delivery of the same to the Agent.

  • Release of Guarantors In connection with (x) a Subsidiary Guarantor no longer being a Material Subsidiary or (y) the sale of Equity Interests in a Subsidiary Guarantor permitted under Section 10.4, the Borrower may request in writing that the Administrative Agent release, and upon receipt of such request the Administrative Agent shall release, such Subsidiary Guarantor from the Subsidiary Guaranty and any other applicable Security Documents so long as: (i) such Subsidiary Guarantor owns no Property included in the most-recent calculation of the Borrowing Base, nor any Equity Interest in any Subsidiary Guarantor that owns a Property included in the most-recent calculation of Borrowing Base; (ii) no Event of Default shall then be in existence or would occur as a result of such release; (iii) the representations and warranties made by the Borrower and such Subsidiary Guarantor in the Loan Documents to which any of them is a party, shall be true and correct in all material respects (except in the case of a representation or warranty qualified by materiality, in which case such representation or warranty shall be true and correct in all respects) on and as of the date of such release with the same force and effect as if made on and as of such date except to the extent that such representations and warranties expressly relate solely to an earlier date (in which case such representations and warranties shall have been true and correct in all material respects (except in the case of a representation or warranty qualified by materiality, in which case such representation or warranty shall be true and correct in all respects and except for changes in factual circumstances specifically and expressly permitted hereunder)); and (iv) the Administrative Agent shall have received such written request at least ten (10) Business Days (or such shorter period as may be acceptable to the Administrative Agent) prior to the requested date of release. Delivery by the Borrower to the Administrative Agent of any such request shall constitute a representation by the Borrower that the matters set forth in the preceding sentence (both as of the date of the giving of such request and as of the date of the effectiveness of such request) are true and correct with respect to such request. Lenders hereby irrevocably authorize the Administrative Agent to release a Subsidiary Guarantor from the Subsidiary Guaranty in accordance with this Section 4.6.

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