Guaranteed Entity definition
Examples of Guaranteed Entity in a sentence
The Guarantor warrants that it has adequate means to obtain from each Guaranteed Entity on a continuing basis, information concerning the financial condition of such Guaranteed Entity and that it is not relying on the Agent to provide such information, now or in the future.
The payment of any amounts due with respect to any indebtedness of any Guaranteed Entity now or hereafter owed to the Guarantor is hereby subordinated to the prior payment in full of all of the Guaranteed Obligations (other than unasserted contingent obligations) in the manner hereinafter set forth.
The obligations of the Guarantor to pay and perform the Guaranteed Obligations under this Guaranty are independent of the obligations of the Guaranteed Entity to pay and perform the Guaranteed Obligations, and a separate action or actions may be brought and prosecuted against the Guarantor to enforce this Guaranty, irrespective of whether any action is brought against the Guaranteed Entity or whether the Guaranteed Entity are joined in any such action or actions.
The Guarantor hereby unconditionally and irrevocably undertakes and agrees, with and for the benefit of the Beneficiaries, to cause the due and punctual performance and observance by each Guaranteed Entity of all other Guaranteed Obligations.
In the event that acceleration of the time for payment of any of the Guaranteed Obligations is stayed upon the insolvency, bankruptcy or reorganization of any Guaranteed Entity or for any other reason with respect to any Guaranteed Entity, all such amounts then due and owing with respect to the Guaranteed Obligations, or any other agreement evidencing, securing or otherwise executed in connection with the Guaranteed Obligations, shall be immediately due and payable by the Guarantor.
No automatic stay under the Bankruptcy Code with respect to any Guaranteed Entity or other federal, state or other applicable bankruptcy, insolvency or reorganization statutes to which any Guaranteed Entity is subject shall postpone the obligations of the Guarantor under this Guaranty.
The Guarantor hereby waives promptness, diligence, notice of acceptance, defenses (including but not limited to all suretyship defenses) and any other notice with respect to any of the Guaranteed Obligations and this Guaranty and any requirement that the Agent protect, secure, perfect or insure any security interest or lien or any property subject thereto or exhaust any right or take any action against any Guaranteed Entity or any other Person or any collateral.
This Guaranty shall survive the insolvency of any Guaranteed Entity and the commencement of any case or proceeding by or against any Guaranteed Entity under the Bankruptcy Code or other federal, state or other applicable bankruptcy, insolvency or reorganization statutes.
The Guarantor waives notice of acceptance of this Guaranty, notice of any action taken or omitted by the Agent (or its assigns) in reliance on this Guaranty, and any requirement that the Agent (or its assigns) be diligent or prompt in making demands under this Guaranty, giving notice of any Default, Event of Default, termination event or other default or omission by any Guaranteed Entity or asserting any other rights of the Agent under this Guaranty.
The Guarantor agrees that, after the occurrence and during the continuance of any default in the payment or performance of any of the Guaranteed Obligations, the Guarantor will not demand, sue for or otherwise attempt to collect any such indebtedness of such Guaranteed Entity to the Guarantor until all of the Guaranteed Obligations shall have been paid and performed in full.