Right to Proceed Against Guarantor. In the event of a ---------------------------------- default in any payment or performance of any Obligation owed to any Beneficiaries when and as the same shall become due, whether at the stated maturity thereof, by acceleration or otherwise, such Beneficiaries may proceed to enforce their respective rights hereunder and such Beneficiaries shall have the right to proceed first and directly against the Guarantor under this Guaranty without proceeding against any other Person or exhausting any other remedies which they may have and without resorting to any collateral security relating thereto. The provisions of Section 6.7 of the Pass Through Trust Agreement and Section 5.11 of the Indenture shall apply to any actions proposed to be commenced hereunder against the Guarantor by the Certificateholders or by the Pass Through Trustee in its capacity as a Loan Participant.
Right to Proceed Against Guarantor. In the event of a ---------------------------------- default in any payment or performance of any Obligation when and as the same shall become due, whether at the stated maturity thereof, by acceleration or otherwise, the Beneficiaries may proceed to enforce their respective rights hereunder and the Beneficiaries shall have the right to proceed first and directly against the Guarantor under this Guaranty without proceeding against any other Person or exhausting any other remedies which they may have and without resorting to any collateral security relating thereto.
Right to Proceed Against Guarantor. In the event of a default under Section 3.3(1) of the Development Agreement, the City, in its sole discretion, shall have the right to proceed first and directly against Guarantor under this Guaranty without proceeding against or exhausting any other remedies which it may have under the Development Agreement or otherwise and without resorting to any other security held by the City.
Right to Proceed Against Guarantor. Subject to the provisions of the Loan Agreement, in the event of a default in payment of any of the Secured Obligations when and as the same shall become due, whether at the stated maturity thereof, by acceleration or otherwise, Administrative Agent and/or Lenders may proceed to enforce their rights hereunder and Administrative Agent and/or Lenders shall have the right to proceed first and directly against any Guarantor under this Guaranty Agreement without proceeding against any other Person or exhausting any other remedies which it may have and without resorting to any other security held by Administrative Agent or Secured Parties.
Right to Proceed Against Guarantor. In the event of a default in any payment under the terms of the Agreements when and as the same shall become due, Kirkwood may proceed hereunder and Kirkwood, in its sole discretion, shall have the right to proceed first and directly against Guarantor under this Guaranty without proceeding against or exhausting any other remedies which it may have and without resorting to any other security held by Kirkwood.
Right to Proceed Against Guarantor. This Guaranty constitutes a guaranty of payment and of performance and not of collection, and Guarantor specifically agrees that in the event of any Event of Default, Owner shall have the right to proceed first and directly against Guarantor under this Guaranty and without proceeding against Contractor or exhausting any other remedies against Contractor that Owner may have. Without limiting the foregoing, Guarantor agrees that it shall not be necessary, and that Guarantor shall not be entitled to require, as a condition of enforcing the liability of Guarantor hereunder, that Owner (1) file suit or proceed to obtain a personal judgment against Contractor or any other person that may be liable for the Guaranteed Obligations or any part of the Guaranteed Obligations, (2) make any other effort to obtain payment or performance of the Guaranteed Obligations from Contractor other than providing Contractor with any notice of such payment or performance as may be required by the terms of the Service Agreement or required to be given to Contractor under applicable law, (3) foreclose against or seek to realize upon any security for the Guaranteed Obligations, or (4) exercise any other right or remedy to which Owner is or may be entitled in connection with the Guaranteed Obligations or any security therefor or any other guarantee thereof, except to the extent that any such exercise of such other right or remedy may be a condition to the Guaranteed Obligations of Contractor or to the enforcement of remedies under the Service Agreement. Upon any unexcused failure by Contractor in the payment or performance of any Guaranteed Obligation and the giving of such notice or demand, if any, to Contractor and Guarantor as may be required in connection with such Guaranteed Obligations and this Guaranty, the liability of Guarantor shall be effective and shall immediately be paid or performed. Notwithstanding Owner’s right to proceed directly against Guarantor, Owner shall not be entitled to more than full performance of the obligations in regard to any breach or non-performance thereof.
Right to Proceed Against Guarantor. Each and every default in ---------------------------------- payment or performance of any of the Indebtedness shall give rise to a separate cause of action hereunder, and separate suits may be brought hereunder as each cause of action arises but it shall not be necessary to xxx on each and every cause. In the event of such a default, Lender in its sole discretion shall have the right to proceed first and directly against the Guarantor under this Guaranty without proceeding against Borrower or any other Person, without exhausting any other remedies which it may have and without resorting to any other security held by Lender.
Right to Proceed Against Guarantor. In the event of a default in any payment or performance of any Obligation owed to a Beneficiary when and as the same shall become due, whether at the stated maturity thereof, by acceleration or otherwise, such Beneficiary may proceed to enforce its rights hereunder and such Beneficiary shall have the right to proceed first and directly against the Guarantor under this Guaranty without proceeding against any other Person or exhausting any other remedies which they may have and without resorting to any collateral security relating thereto. The provisions of Section 6.7 of the Pass Through Trust Agreement and Section 6.07 of the Indenture shall apply to actions proposed to be commenced hereunder against the Guarantor by the Certificateholders or by the Pass Through Trustee in its capacity as Loan Participant.
Right to Proceed Against Guarantor. In the event of a default in payment of any of the Obligations when and as the same shall become due, whether at the stated maturity thereof, by acceleration or otherwise, Lender may proceed to enforce its rights hereunder and Lender shall have the right to proceed first and directly against any Guarantor under this Guaranty Agreement without proceeding against any other Person or exhausting any other remedies which it may have and without resorting to any other security held by Lender.
