PERSONAL GUARANTEE Sample Clauses
A Personal Guarantee clause establishes that an individual, often a business owner or principal, personally commits to fulfilling the obligations of a contract if the primary party (such as a company) fails to do so. This means that if the business defaults on payments or breaches the agreement, the guarantor is legally responsible for covering debts or liabilities. By requiring a personal guarantee, the clause provides additional security to the other party, reducing the risk of non-payment or default and ensuring that obligations will be met even if the primary party cannot fulfill them.
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PERSONAL GUARANTEE. For valuable consideration, the receipt of which is acknowledged, the undersigned (“Guarantor”) irrevocably, absolutely and unconditionally guarantees to OptConnect the full and prompt payment by Customer of all of Customer's obligations under this Agreement. In the event Customer fails to pay all or part of its obligations when due under this Agreement, Guarantor agrees to pay OptConnect in a timely manner all amounts not paid by Customer. In addition, ▇▇▇▇▇▇▇▇▇ agrees to pay all reasonable attorneys' fees and all costs and expenses incurred in collecting or compromising any indebtedness of Customer guaranteed hereunder or in enforcing this Personal Guarantee against Guarantor. This Personal Guarantee is in no way conditioned or contingent on any attempt to collect Customer's payment obligations from any other person obligated with respect to Customer's obligations or any other guarantor of Customer's obligations. This Personal Guarantee shall be binding on Guarantor and shall inure to the benefit of OptConnect and its successors and assigns. The obligations of Guarantor under this Personal Guarantee shall remain in full force and effect notwithstanding the death or disability of Guarantor. Guarantor, recognizing that his or her individual credit history may be necessary in the evaluation of this Personal Guarantee, hereby consents to and authorizes the use of a consumer credit report on Guarantor by OptConnect, from time to time as may be needed for credit evaluation purposes. Signature X Printed Name Date The method of payment for the equipment rental and monthly Wireless Service Charges, and all other amounts or fees that become due and owing by Customer under this Agreement, is ACH. Customer authorizes OptConnect to initiate ACH transfer entries and to debit and/or credit the account identified below (the “Account”) for the equipment rental and monthly Wireless Service Charges, and all other amounts or fees that become due and owing by Customer under this Agreement. Customer agrees to keep the Account funded to the extent needed to reasonably support transaction amounts posted by OptConnect under this Agreement. In the event an ACH payment is returned unpaid to OptConnect, ▇▇▇▇▇▇▇▇ agrees to immediately pay OptConnect a returned ACH fee of $35.00 per returned item. All shortages and adjustments are the full responsibility of Customer. The undersigned represents and warrants to OptConnect that the person executing this ACH Authorization is an authorize...
PERSONAL GUARANTEE a. Should Client not reimburse Payroll City for funds advanced by Payroll City in good faith, the Officers of said Client agrees to be personally liable for all amounts owed to Payroll City, including interest and service charges.
PERSONAL GUARANTEE. Personal Guarantors guarantee to DCS the performance of this Agreement, and any addendum thereto by ▇▇▇▇▇▇▇▇, including payment of all sums due and owing and costs associated with the enforcement of the terms hereof. DCS shall not be required to first proceed against the Merchant or enforce any other remedy before proceeding against the Guarantor.
PERSONAL GUARANTEE. For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, I hereby covenant and agree with Hardwoods Specialty Products US LP (“Seller”) as follows:
PERSONAL GUARANTEE. I/We understand that each parent/guardian of the child/children enrolled at Rainbow Christian Preschool must sign the Parent-School Agreement on an annual basis attesting that I/we are both jointly and separately liable for my/our child/children’s current school year tuition and any unpaid balance.
PERSONAL GUARANTEE. IN CONSIDERATION of One ($1.00) Dollar and other good and valuable consideration to the undersigned in hand paid, receipt whereof is hereby acknowledged, and in further consideration for and as an inducement to Landlord to enter into the within Lease simultaneously herewith with Tenant, covering the Demised Premises as more fully described in said Lease, the undersigned ("Guarantor") does hereby unconditionally guarantee to Landlord and its successors in interest that Tenant will (a install a full stock of merchandise and fixtures in the Demised Premises and otherwise , (b) open the Demised Premises for business and operate its business during normal business hours and in compliance with the Rules and Regulations specified in Exhibit C of this Lease (c) commence the payment of rental as required in Article 1C of this Lease, and (d) pay to Landlord any security moneys remaining unpaid as of the date hereof, without requiring any notice of non-payment, non-performance or non-observance, or proof, or notice, or demand, whereby to charge the Guarantor, all of which the Guarantor hereby expressly waives and expressly agrees that the validity of this agreement and the obligations of the Guarantor hereunder shall in no wise be terminated, affected or impaired by reason of the assertion by Landlord against Tenant of any of the rights or remedies reserved to Landlord pursuant to the provisions of the said lease. The Guarantor hereby waives exhausting of recourse against the Tenant and agrees that any action brought for the enforcement of rights under said lease or under this Guarantee may, in Landlord's discretion, be brought against the Guarantor and/or the Tenant jointly or severally. The Guarantor hereby agrees that the failure of the Landlord to require strict performance of any of the terms of said lease, or any extension of time, concession, indulgence, or waiver of performance granted by the Landlord shall not release the Guarantor from liability under this Guarantee. The Guarantor hereby agrees that any subsequent change, modification and/or amendment to said lease in any of its terms, covenants or conditions, or in the rental payable thereunder, and/or any sublettings of all or any part of the premises, may be agreed or consented to by the Landlord or any successors in interest, without notice to or consent of the Guarantor and without in any manner releasing or relieving the Guarantor from its present or future liability under said lease or this Guarantee...
PERSONAL GUARANTEE. It is expressly agreed by the parties to this lease that the Lessor has the option, in its sole discretion, to require or dispense with the co- signature of a parent/guarantor or other co-signed and in the event such a co- signature is not required, the lack thereof shall not affect the validity or enforceability of this lease.
PERSONAL GUARANTEE. If the Client is an LLC, Corporation, LLP or other entity, then the individuals signing this Agreement hereby agree to, jointly and severally as applicable, personally guarantee the payment and collection of all fees and costs payable under this Agreement, on behalf of said entity.
PERSONAL GUARANTEE. To induce and in consideration of EZCheck acceptance of this Agreement, the undersigned (herein referred to as “Guarantor”) unconditionally, personally, individually, jointly and severally guarantees performance of the Merchant’s obligations under this Agreement and payment of all sums due hereunder and hereby continues to personally indemnify EZCheck for any and all funds due from Merchant under the terms of this Agreement.
PERSONAL GUARANTEE. If the Lessee is a corporation or partnership, then the person signing this agreement, whether signed as an officer or partner or not, personally guarantees payment under this agreement. The undersigned unconditionally guarantees to the Lessor the full and prompt payment of any and all indebtedness, which may at any time be owing to Lessor by corporation or partnership, and the undersigned agrees to pay all indebtedness. The obligations and liabilities of Lessee and the undersigned guarantor shall be joint and several.