Examples of Indemnity Guarantor in a sentence
The Municipal Entity was formed in terms of the Municipal Systems Act No. 32 of 2000 and the Municipal Finance Management Act No. 56 of 2003.
Further, each Indemnity Guarantor agrees that should any Indemnity Guarantor receive any payment, satisfaction or security for any Indemnity Guarantor Claim, the same shall be delivered to Agent in the form received (endorsed or assigned as may be appropriate) for application on account of, or as security for, the Indebtedness and until so delivered to Agent, shall be held in trust for Agent as security for the Indebtedness.
Notice or demand given to any Indemnity Guarantor in any instance will not entitle any Indemnity Guarantor to notice or demand in similar or other circumstances nor constitute Agent’s waiver of its right to take any future action in any circumstance without notice or demand.
Such Indemnity Guarantor has the requisite legal capacity to execute and deliver this Indemnity Guaranty and perform its obligations hereunder.
The DASC or Marine TACC determines the TAC(A)’s authority over aircraft operating within his assigned area.
Agent has the right to require Indemnity Guarantors to pay, comply with and satisfy the Guaranteed Obligations under this Indemnity Guaranty, and shall have the right to proceed immediately against Indemnity Guarantors, or any Indemnity Guarantor, with respect thereto.
Each Indemnity Guarantor irrevocably waives all rights it may have under applicable law, if any, to prohibit the disclosure to such assignor, participant, or servicer of any information Agent may have in connection with the Loan or any Borrower Party, including, without limitation, any right of privacy.
If any Indemnity Guarantor has chosen not to obtain legal representation, whether due to cost considerations or for other reasons, the lack of such representation shall not furnish any Indemnity Guarantor with any defense to the enforcement of Agent’s rights hereunder.
Such Indemnity Guarantor owns a direct or indirect interest in Borrower and will derive substantial benefit from the making of the Loan to Borrower.
Each Indemnity Guarantor agrees that it shall be collaterally estopped from contesting, and shall be bound conclusively in any subsequent action, in any jurisdiction, by the judgment in any action by Agent against Borrower or any Indemnity Guarantor in connection with the Loan Documents (wherever instituted) as if such Indemnity Guarantor were a party to such action even if not so joined as a party.