Nature of the Guaranty. This Guaranty: (a) is (i) irrevocable; (ii) absolute and unconditional; (iii) direct, immediate and primary; and (iv) one of payment and not just collection; and (b) makes the Guarantor a surety to Investors and primarily liable with the Issuer.
Nature of the Guaranty. This is a guaranty of payment and not of collection and the obligations of the Guarantor hereunder shall be direct, immediate and primary. This Guaranty shall in all respects be a continuing absolute and unconditional guarantee irrespective of the genuineness, validity or enforceability of the Note or any part thereof, or by the existence, enforceability, perfection or extent of any collateral therefor.
Nature of the Guaranty. (1) The mortgagee is entitled to the priority of compensation from the mortgaged property. When the mortgagee executive his rights under the agreement, he need not recourse to the lender or other guarantor, instead he has priority in satisfying his claim from the proceeds of the property in accordance with the provisions of the Law.
Nature of the Guaranty. This Guaranty shall be direct, immediate, and primary, and is one of payment and performance and not just collection. Atlantic shall be under no obligation to pursue its rights against a Subsidiary or any other right or remedy available to it or pursue any collateral or security before proceeding against Guarantor. Guarantor expressly waives all rights it may have now or in the future under any statute, or at common law, or at law or in equity, or otherwise, including, without limitation, any rights Guarantor may have to compel Atlantic to proceed in respect of the Guarantor's obligation hereunder against any Subsidiary or any other party or against any security for the payment or performance of Guarantor's obligation hereunder before proceeding against, or as a condition to proceeding against, Guarantor. All payments made pursuant to this Guaranty shall be made in United States currency to Atlantic in immediately available funds, without reduction for any recoupment, set-off, counterclaim or defense based upon any claim that Guarantor may have against any Subsidiary. The obligations and liabilities of Guarantor pursuant to this Guaranty shall be unconditional, irrespective of the genuineness, validity, priority, regularity or enforceability of the Notes or the Loan Documents or any other circumstance which might otherwise constitute a legal or equitable discharge of a surety or guarantor.
Nature of the Guaranty. (a) This Guaranty shall be irrevocable, and in all events shall be continuing, unconditional and absolute, and if for any reason any sums stated in the other Operative Documents to be payable by Lessee, or any part thereof, shall not be paid promptly when due, or any other obligation, covenant, term, condition or undertaking of the Lessee contained in any Operative Document shall not be performed, complied with or observed in accordance with said Operative Document, subject in each case, in respect of such obligation to pay or perform, to the terms of the Operative Documents, then in each such instance upon demand of payment, performance, compliance or observance, made by the Lessor to the Guarantor, the Guarantor shall pay, perform, comply with or observe the same to or for the benefit of the Lessor pursuant to and in accordance with the provisions of the Operative Documents, regardless of any defenses or rights of set-off or counterclaim, regardless of whether the Lessor shall have taken any steps to enforce its rights against the Guarantor, the Lessee or any other Person, to collect such sums, or any part thereof, and regardless of any other condition or contingency. The Guarantor also agrees to pay on demand to the Lessor such further amounts as shall be sufficient to cover the costs and expenses of collecting such sums, or part thereof, or of otherwise enforcing this Guaranty, including, in any case, compensation to their respective attorneys for all services rendered in that connection.
Nature of the Guaranty. (a) This Guaranty is a guarantee of payment and not of collection only. This Guaranty shall be irrevocable, and in all events shall be continuing, unconditional and absolute, and if any sums stated in any Loan Document to be payable by any Obligor shall not be paid promptly when due or any other obligation, covenant, term, condition or undertaking of any Obligor contained in the Loan Documents shall not be performed, complied with or observed in accordance with said Loan Document, then in each such instance upon demand of payment, performance, compliance or observance, made, in writing, by the Lender to the Guarantor, the Guarantor receiving such notice shall pay, perform, comply with or observe the same or cause the same to be paid, performed, complied with or observed strictly in accordance with the provisions hereof and the Loan Documents, regardless of (i) any Lender defenses or rights of set off or counterclaim (other than indefeasible payment and performance in full), (ii) whether the Lender shall have taken any steps to enforce its rights against any Obligor or any other Person to collect such sums, or any part thereof, (iii) any change in the status of any Guarantor as an affiliate of any Obligor, (iv) any amendment or modification to any of the obligations of any Obligor with respect to the Guaranteed Obligations or the genuineness, regularity, validity or enforceability of the Guaranteed Obligations or of any term thereof or lack of power or authority of any party to enter into the Guaranteed Obligations and (v) any other condition or contingency. The Guarantor also agrees (without duplication of amounts due and owing by the Obligors under the Loan Documents) to pay the costs and expenses of Lender collecting any sums payable hereunder from the Guarantor, or any part thereof, or of otherwise enforcing this Guaranty or the obligations of the Obligors under the Loan Documents, including fees and disbursements of counsel to Lender.
Nature of the Guaranty. This guaranty is an irrevocable, unconditional (other than being subject to the Setoff Rights) and absolute guaranty of payment and not of collection, and Guarantor agrees that upon a default of Maker's obligations pursuant to the Note and the Deferred Payment which shall remain uncured, the Payees shall not be obligated to further demand payment or to take any further steps to collect the Indebtedness from the Maker prior to seeking recourse against, or receiving payment from Guarantor.
Nature of the Guaranty. (a) This Guaranty shall be irrevocable, and in all events shall be continuing, unconditional and absolute, and if for any reason any sums stated in the other Operative Documents to be payable by Lessee, or any part thereof, shall not be paid promptly when due, subject to the terms of the Operative Documents, then upon demand of payment made by the Lessor to the Guarantor, the Guarantor shall pay the same to or for the benefit of the Lessor pursuant to and in accordance with the provisions of the Operative Documents, regardless of any defenses or rights of set-off or counterclaim, regardless of whether the Lessor shall have taken any steps to enforce its rights against the Guarantor, the Lessee or any other Person, to collect such sums, or any part thereof, and regardless of any other condition or contingency. The Guarantor also agrees to pay on demand to the Lessor such further amounts as shall be sufficient to cover the reasonable costs and expenses of collecting such sums, or part thereof, or of otherwise enforcing this Guaranty, including, in any case, reasonable compensation to their respective attorneys for all services rendered in that connection.
Nature of the Guaranty. The guaranty of the Guarantor hereunder shall be direct and immediate and is one of payment and not just collection.
Nature of the Guaranty. (a) This Guaranty is a guaranty of payment and not of collection only. This Guaranty shall be irrevocable, and in all events shall be continuing, unconditional and absolute, and if any sums stated in the Operative Documents to be payable by the Borrowers shall not be paid promptly when due, or any other obligation, covenant, term, condition or undertaking of the Borrowers contained in any Operative Document shall not be performed, complied with or observed in accordance with said Operative Document, then in each such instance upon demand of payment, performance, compliance or observance, made by any Guaranteed Party to either Guarantor, such Guarantor shall pay, perform, comply with or observe the same strictly in accordance with the provisions of the Operative Documents, regardless of any defenses or rights of set-off or counterclaim, regardless of whether the Collateral Agent or any other Guaranteed Party shall have taken any steps to enforce its rights against the other Guarantor, the Borrowers or any other Person, to collect such sums, or any part thereof, and regardless of any other condition or contingency. Each Guarantor, jointly and severally, also agrees to pay to the relevant Guaranteed Party such further amounts as shall be sufficient to pay the reasonable costs and expense of collecting such sums, or any part thereof, or of otherwise enforcing this Guaranty, including, in any case, reasonable, documented compensation to its attorneys for all services rendered in that connection.
