THE GUARANTEED DEBT Sample Clauses
The "Guaranteed Debt" clause defines the specific debts or obligations that are covered by a guarantee within an agreement. Typically, this clause outlines the types of financial liabilities, such as loans, credit facilities, or other monetary obligations, for which the guarantor is responsible if the primary debtor defaults. For example, it may specify that the guarantor is liable for all amounts owed under a particular loan agreement, including principal, interest, and related fees. The core function of this clause is to clearly delineate the scope of the guarantor's liability, ensuring both parties understand which debts are protected by the guarantee and thereby reducing ambiguity and potential disputes.
THE GUARANTEED DEBT. (a) The Guarantor hereby irrevocably, absolutely, and unconditionally guarantees to Lender the prompt, complete, and full payment when due, and no matter how the same shall become due, of: (i) the Loans, including the Notes and any other note that may be issued from time to time to evidence the Loans and all principal thereof, all interest thereon and all other sums payable thereunder; (ii) all Indebtedness, obligations, liabilities or indemnities of any Obligor owing to Lender under the Loan Agreement or any other Loan Document; (iii) all other sums payable under the other Loan Documents, whether for principal, interest, fees or otherwise; and (iv) any and all other indebtedness, obligations or liabilities which may at any time be owed to Lender, whether incurred heretofore or hereafter or concurrently herewith, under or pursuant to any of the Loan Documents. Without limiting the generality of the foregoing, the Guarantor's liability hereunder shall extend to and include all post-petition interest, expenses, and other duties and liabilities of the Borrowers described above in this subsection (a), or below in the following subsection (b), which would be owed by the Borrowers but for the fact that they are unenforceable or not allowable due to the existence of a bankruptcy, reorganization, or similar proceeding involving a Borrower.
(b) The Guarantor hereby irrevocably, absolutely, and unconditionally guarantees to Lender the prompt, complete and full performance, when due, and no matter how the same shall become due, of all obligations and undertakings of the Borrowers to Lender under, by reason of, or pursuant to any of the Loan Documents.
(c) If the Borrowers shall for any reason fail to pay any Obligation, as and when such Obligation shall become due and payable, whether at its stated maturity, as a result of the exercise of any power to accelerate, or otherwise, the Guarantor will 1094129v2 forthwith, upon demand by Lender, pay such Obligation in full to Lender. If the Borrowers shall for any reason fail to perform promptly any Obligation, the Guarantor will forthwith, upon demand by Lender, cause such Obligation to be performed or, if specified by Lender, provide sufficient funds, in such amount and manner as Lender shall in good faith determine, for the prompt, full and faithful performance of such Obligation by Lender or such other Person as Lender shall designate.
(d) If either Borrower or the Guarantor fails to pay or perform any Obligation as des...
THE GUARANTEED DEBT. In consideration of any and all loans, advances, acceptances and extensions of credit made by FINOVA CAPITAL CORPORATION, a Delaware corporation, ("FINOVA") to, for the account of, or on behalf of FLORIDA FINANCE GROUP, INC., a Florida corporation, LIBERTY FINANCE COMPANY, a Florida corporation, SMART CHOICE RECEIVABLES HOLDING COMPANY, a Delaware corporation and FIRST CHOICE AUTO FINANCE, INC.. a Florida corporation (collectively referred to herein as "Borrower") and as an inducement for FINOVA to make future loans, advances, acceptances and extensions of credit to, for the account of, or on behalf of Borrower, the undersigned (the "Guarantor"), absolutely and unconditionally guarantees to FINOVA the punctual payment in full at maturity, whether due pursuant to acceleration or otherwise, of the principal, interest and other sums due or to become due from Borrower to FINOVA (collectively the "debt") at any time and from time to time from the date of this Guaranty until termination under or pursuant to that certain Amended and Restated Loan and Security Agreement ("Loan Agreement") and other documents executed in conjunction therewith, dated February 4, 1997, as amended from time to time, by and among FINOVA, ▇▇▇▇▇▇▇▇ and Guarantor.
THE GUARANTEED DEBT. As used herein, the term “Guaranteed Debt” shall mean:
THE GUARANTEED DEBT. The guaranteed debt means all the debt under the master contract. The master contract includes the main contract and other signed contract under the master contract.
THE GUARANTEED DEBT. In consideration of any and all loans, advances, acceptances and extensions of credit made by FINOVA CAPITAL CORPORATION, a Delaware corporation, ("FINOVA") to, for the account of, or on behalf of FLORIDA FINANCE GROUP INC., a Florida corporation (referred to herein as "Borrower") and as an inducement for FINOVA to make future loans, advances, acceptances and extensions of credit to, for the account of, or on behalf of Borrower, the undersigned (the "Guarantor"), absolutely and unconditionally guarantees to FINOVA the punctual payment in full at maturity, whether due pursuant to acceleration or otherwise, of the principal, interest and other sums due or to become due from Borrower to FINOVA (collectively the "debt") at any time and from time to time from the date of this Guaranty until termination under or pursuant to that certain First Amended and Restated Loan and Security Agreement of even date herewith by and among FINOVA, Borrower and Guarantor (the "Loan Agreement"). Guarantor hereby acknowledges that it will receive a materially financial and economic benefit from the extension of credit by FINOVA to Borrower.