Primary Liability of Guarantors. Each of the Guarantors agrees that this Guaranty may be enforced by the Administrative Agent and the Lenders without the necessity at any time of resorting to or exhausting any other security or collateral and without the necessity at any time of having recourse to the Notes or any collateral now or hereafter securing the Indebtedness or otherwise, and each of the Guarantors hereby waives the right to require the Administrative Agent and the Lenders to proceed against the Borrower or any other person (including a co-guarantor) or to require the Administrative Agent and the Lenders to pursue any other remedy or enforce any other right. In addition, each of the Guarantors hereby waives and renounces any and all rights it has or may have for subrogation, indemnity, reimbursement or contribution against the Borrower for amounts paid under this Guaranty. This waiver is expressly intended to prevent the existence of any claim in respect of such subrogation, indemnity, reimbursement or contribution by a Guarantor against the estate of the Borrower within the meaning of Section 101 of the United States Bankruptcy Code, and to prevent such Guarantor from being deemed a “creditor” of the Borrower in respect of such subrogation, indemnity, reimbursement or contribution within the meaning of Section 547(b) of the United States Bankruptcy Code in the event of a subsequent case involving the Borrower. Each of the Guarantors further agrees that nothing contained herein shall prevent the Administrative Agent or the Lenders from suing on the Notes or foreclosing its security interest in or Lien on any collateral now or hereafter securing the Indebtedness or from exercising any other rights available to the Administrative Agent or the Lenders under the Notes, or any other instrument of security if neither the Borrower nor the Guarantors timely perform the obligations of the Borrower thereunder, and the exercise of any of the aforesaid rights and the completion of any foreclosure proceedings shall not constitute a discharge of any Guarantor’s obligations hereunder; it being the purpose and intent of each of the Guarantors that such Guarantor’s obligations hereunder shall be absolute, independent and unconditional under any and all circumstances. Neither the Guarantors’ obligations under this Guaranty nor any remedy for the enforcement thereof shall be impaired, modified, changed or released in any manner whatsoever by an impairment, modification, change, release or limitatio...
Primary Liability of Guarantors. This is a guaranty of payment, not of collection, and each Guarantor acknowledges that Lender is not required, as a condition to establishing Guarantor's liability hereunder, to proceed against any person or entity (including Borrower) or against any security or collateral to which Lender is entitled to look for payment or performance of the Obligations. Each Guarantor agrees that neither bankruptcy, insolvency, insanity, death, minority, other disability, cessation of existence or dissolution of Borrower, any party acting for or on behalf of Borrower in connection with the Obligations or any other guarantor now or hereafter existing or occurring; nor any allegation of usury, failure of consideration, or forgery, whether or not known to Lender (even though rendering all or any part of the Obligations void or unenforceable or uncollectible as against Borrower or any other guarantor) shall in any manner impair, affect, or release the liability of Guarantor hereunder, and Guarantor shall be and remain fully liable hereunder.
Primary Liability of Guarantors. (a) This Guaranty is an absolute, irrevocable and unconditional guaranty of payment and performance. Each Guarantor is and shall be jointly and severally liable for the payment and performance of the Guaranteed Obligations, as set forth in this Guaranty, as a primary, and not secondary, obligor.
Primary Liability of Guarantors. Each of the Guarantors agrees that ------------------------------- this Guaranty Agreement may be enforced by the Administrative Agent and the Lenders without the necessity at any time of having recourse to the Borrowers under the Credit Agreement or otherwise, and each of the Guarantors hereby waives the right to require the Administrative Agent and the Lenders to proceed against the Borrowers or any other person (including a co-guarantor) or to require the Administrative Agent and the Lenders to pursue any other remedy or enforce any other right. Each of the Guarantors further agrees that it shall have no right of subrogation, reimbursement or indemnity whatsoever for the Borrowers' Obligations, so long as any amounts payable to the Administrative Agent or the Lenders in respect of the Borrowers' Obligations shall remain outstanding and until all of the Commitments under the Credit Agreement shall have been terminated. Each of the Guarantors further agrees that nothing contained herein shall prevent the Administrative Agent or the Lenders from suing the Borrowers with respect to their obligations under the Credit Agreement or from exercising any other rights available to the Administrative Agent or the Lenders under the Credit Agreement if neither the Borrowers nor the
Primary Liability of Guarantors. This Guaranty is a primary obligation of each Guarantor. Each Guarantor agrees that this Guaranty may be enforced by the Holders, or any of them, and each Guarantor hereby waives the right to require the Holders (or any of them) to proceed against the Company or any other person (including a co-guarantor) or to require the Holders (or any of them) to pursue any other remedy or enforce any other right. Each Guarantor further agrees that nothing contained herein shall prevent the Holders, or any of them, from suing on the Notes or the Agreement or from exercising any other rights available to it under the Notes or the Agreement and the exercise of any of the aforesaid rights and the completion of any foreclosure proceedings shall not constitute a discharge of any of the Guarantor's obligations hereunder.
Primary Liability of Guarantors. Each of the Guarantors agrees that ------------------------------- this Guaranty Agreement may be enforced by the Administrative Agent and the Lenders without the necessity at any time of having recourse to the Borrowers under the Credit Agreement or otherwise, and each of the Guarantors hereby waives the right to require the Administrative Agent and the Lenders to proceed against the Borrowers or any other person (including a co-guarantor) or to require the Administrative Agent and the Lenders to pursue any other remedy or enforce any other right. Each of the Guarantors further agrees that it shall have no right of subrogation, reimbursement or indemnity whatsoever for the Borrowers' Obligations, so long as any amounts
Primary Liability of Guarantors. Each Guarantor agrees that this Guaranty may be enforced by Lender without the necessity at any time of resorting to or exhausting any other security or collateral and without the necessity at any time of having recourse to the collateral securing the Indebtedness or otherwise and such Guarantor hereby waives the right to require Lender to proceed against Borrower or any other person (including a co-guarantor) or to require Lender to pursue any other remedy or enforce any other right. Each Guarantor further agrees that it shall have no right of subrogation, indemnity, reimbursement or contribution against Borrower or any other guarantor of the Indebtedness for amounts paid under this Guaranty until such time as the Indebtedness has been irrevocably paid in full.
Primary Liability of Guarantors. This Guaranty constitutes a guarantee of payment and performance and not of collection. Accordingly, the Lender Parties may enforce this Guaranty against Guarantors (or any of them) without first making demand upon or instituting collection proceedings against Borrower. Each Guarantor's liability for the Obligations is hereby declared to be primary, and not secondary, and any Guarantor may be called upon hereunder to make any payment when due under the Obligations irrespective of the acceleration of the Obligations.
Primary Liability of Guarantors. (a) This Guaranty is an absolute, irrevocable and unconditional guaranty of payment and performance. Each Guarantor is liable for the payment and performance of the Guaranteed Obligations, as set forth in this Guaranty, as a primary obligor.
Primary Liability of Guarantors. This Guaranty is a primary obligation of the Guarantor. The Guarantor agrees that this Guaranty may be enforced by the Holders, or any of them, without the necessity at any time of resorting to or exhausting any other security and without the necessity at any time of having recourse to the Notes or the Note Purchase Agreements, and the Guarantor hereby waives the right to require the Holders (or any of them) to proceed against the Company or any other person (including a co-guarantor) or to require the Holders (or any of them) to pursue any other remedy or enforce any other right. The Guarantor further agrees that nothing contained herein shall prevent the Holders, or any of them, from suing on the Notes, the Note Purchase Agreements or foreclosing its security interests, if any, in the Guaranteed Debt or from exercising any other rights available to it under the Notes, the Note Purchase Agreements or an instrument of security, if any, and the exercise of any of the aforesaid rights and the completion of any foreclosure proceedings shall not constitute a discharge of any of the Guarantor's obligations hereunder.
