Guaranty definition
Examples of Guaranty in a sentence
Each Guarantor expressly waives to the maximum extent permitted by applicable law all setoffs and counterclaims and all presentments, demands for payment or performance, notices of nonpayment or nonperformance, protests, notices of protest, notices of dishonor and all other notices or demands of any kind or nature whatsoever with respect to the Obligations, and all notices of acceptance of this Guaranty or of the existence, creation or incurrence of new or additional Obligations.
No Guarantor shall be released from its Guaranty except as contemplated by this clause (d), or Section 10.08 or 11.01.
The obligations of each Guarantor under this paragraph shall survive termination of this Guaranty.
Further, Administrative Agent may (and is hereby irrevocably authorized by each Lender to), upon the request of Borrower, release any Guarantor from its obligations under its Guaranty if such Guarantor is no longer a Material Subsidiary.
Each Guarantor shall not exercise any right of subrogation, contribution, indemnity, reimbursement or similar rights with respect to any payments it makes under this Guaranty until all of the Obligations and any other amounts payable under this Guaranty have been indefeasibly paid and performed in full (other than unasserted indemnification, tax gross up, expense reimbursement or yield protection obligations, in each case, for which no claim has been made) and the Commitments are terminated.