Common use of Nature of Guaranty; Waivers Clause in Contracts

Nature of Guaranty; Waivers. (a) This is a guaranty of payment and not of collection and the Buyer shall not be required, as a condition of the Guarantor’s liability, to proceed first against Seller or any performance assurance or any collateral that Guarantor may hold, or to pursue any rights which may be available to it with respect to any other person or entity who may be liable for the payment of the Obligations. This is not a guaranty of performance (other than of performance of payment obligations) and the Guarantor is not obligated to provide power or to deliver AECs under the SMA(s) or this Guaranty.

Nature of Guaranty; Waivers. (a) This is a guaranty of payment and not of collection and the Buyer shall not be required, as a condition of the Guarantor’s liability, to proceed first against Seller or any performance assurance or any collateral that Guarantor may hold, or to pursue any rights which may be available to it with respect to any other person or entity who may be liable for the payment of the Obligations. This is not a guaranty of performance (other than of performance of payment obligations) and the Guarantor is not obligated to provide power or to deliver AECs under the SMA(s) or this Guaranty.

Nature of Guaranty; Waivers. (a) This is a guaranty of payment and not of collection and the Buyer shall not be required, as a condition of the Guarantor’s liability, to proceed first against Seller or any performance assurance Performance Assurance or any collateral that Guarantor may hold, or to pursue any rights which may be available to it with respect to any other person or entity who may be liable for the payment of the Obligations. This is not a guaranty of performance (other than of performance of payment obligations) and the Guarantor is not obligated to provide power or to deliver AECs under the SMA(s) or this Guaranty.