Common use of Unenforceability of Obligations Against Borrower Clause in Contracts

Unenforceability of Obligations Against Borrower. If for any reason the Borrower has no legal existence or is under no legal obligation to discharge any of the Obligations, or if any of the Obligations have become irrecoverable from the Borrower by reason of the Borrower’s insolvency, bankruptcy or reorganization or by other operation of law or for any other reason, this Guaranty shall nevertheless be binding on each Guarantor to the same extent as if such Guarantor at all times had been the principal obligor on all such Obligations. This Guaranty shall be in addition to any other guaranty or other security for the Obligations, and it shall not be prejudiced or rendered unenforceable by the inability of any such other guaranty or security. In the event that acceleration of the time for payment of any of the Obligations is stayed upon the application of any Debtor Relief Laws to the Borrower, or for any other reason, all such amounts otherwise subject to acceleration under the terms of the Loan Agreement, the Notes, the other Loan Documents or any other agreement evidencing, securing or otherwise executed in connection with any Obligation shall be immediately due and payable by each Guarantor.

Unenforceability of Obligations Against Borrower. If for any reason the Borrower Borrower, the Guarantor or any Other Guarantor has no legal existence or is under no legal obligation to discharge any of the Obligations, or if any of the Obligations have become irrecoverable from the Borrower Borrower, the Guarantor or any Other Guarantor by reason of the Borrower’s 's, such Guarantor's or such Other Guarantor's insolvency, bankruptcy or reorganization or by other operation of law or for any other reason, this Guaranty shall nevertheless be binding on each the Guarantor to the same extent as if such the Guarantor at all times had been the principal obligor on all such Obligations. This Guaranty shall be in addition to any other guaranty or other security for the Obligations, and it shall not be prejudiced or rendered unenforceable by the inability of any such other guaranty or security. In the event that acceleration of the time for payment of any of the Obligations is stayed upon the application insolvency, bankruptcy or reorganization of any Debtor Relief Laws to the Borrower, the Guarantor or any Other Guarantor, or for any other reason, all such amounts otherwise subject to acceleration under the terms of the Loan AgreementSPA, the Notes, the other Loan Transaction Documents or any other agreement evidencing, securing or otherwise executed in connection with any Obligation shall be immediately due and payable by each the Guarantor.

Unenforceability of Obligations Against Borrower. If for any reason the Borrower has no legal existence or is under no legal obligation to discharge any of the Obligations, or if any of the Obligations have become irrecoverable from the Borrower by reason of the Borrower’s insolvency, bankruptcy or reorganization or by other operation of law or for any other reason, this Guaranty shall nevertheless be binding on each Guarantor to the same extent as if such Guarantor at all times had been the principal obligor on all such Obligations. This Guaranty shall be in addition to any other guaranty or other security for the Obligations, and it shall not be prejudiced or rendered unenforceable by the inability of any such other guaranty or security. In the event that acceleration of the time for payment of any of the Obligations is stayed upon the application of any Debtor Relief Laws to the Borrower, or for any other reason, all such amounts otherwise subject to acceleration under the terms of the Loan Credit Agreement, the Notes, the other Loan Documents or any other agreement evidencing, securing or otherwise executed in connection with any Obligation shall be immediately due and payable by each Guarantor.

Unenforceability of Obligations Against Borrower. If for any reason the Borrower Borrower, any other Guarantor or any Other Guarantor has no legal existence or is under no legal obligation to discharge any of the Obligations, or if any of the Obligations have become irrecoverable from the Borrower Borrower, any Guarantor or any Other Guarantor by reason of the Borrower’s, such other Guarantor’s or such Other Guarantor’s insolvency, bankruptcy or reorganization or by other operation of law or for any other reason, this Guaranty shall nevertheless be binding on each Guarantor the Guarantors to the same extent as if such each Guarantor at all times had been the principal obligor on all such Obligations. This Guaranty shall be in addition to any other guaranty or other security for the Obligations, and it shall not be prejudiced or rendered unenforceable by the inability of any such other guaranty or security. In the event that acceleration of the time for payment of any of the Obligations is stayed upon the application insolvency, bankruptcy or reorganization of any Debtor Relief Laws to the Borrower, any Guarantor or any Other Guarantor, or for any other reason, all such amounts otherwise subject to acceleration under the terms of the Loan AgreementSPA, the NotesNote, the other Loan Transaction Documents or any other agreement evidencing, securing or otherwise executed in connection with any Obligation shall be immediately due and payable by each Guarantorthe Guarantors.