Examples of Guaranty Obligations in a sentence
Each Guarantor agrees that it shall not be entitled to any right of subrogation in relation to the Holders in respect of any Guaranty Obligations guaranteed hereby until payment in full of all Guaranty Obligations.
The Guarantors shall have the right to seek contribution from any non-paying Guarantor so long as the exercise of such right does not impair the rights of the Holders under any Guarantee; provided, however, that if a Default has occurred and is continuing, the right to receive payment in respect of such right of contribution shall be suspended until the payment in full of all Guaranty Obligations hereunder.
The Noteholder further expressly acknowledges and agrees that in the event that the Project Lender and the Noteholder are unable to reach agreement on the terms of an intercreditor arrangement that is acceptable to the Project Lender, the Applicable Note Guaranty Obligations and the Liens granted to, or held by, the Noteholder on the Applicable Project Collateral, shall in each case be automatically, unconditionally, immediately and irrevocably released.
Each Guarantor waives notice of any default under the Securities or the Guaranty Obligations.
Each Guarantor further agrees that its Guarantee herein constitutes a guaranty of payment, performance and compliance when due (and not a guaranty of collection) and waives any right to require that any resort be had by any Holder or the Trustee to any security held for payment of the Guaranty Obligations.