Examples of Individual Guarantors in a sentence
As a condition of this Amendment, Borrower and Parent shall cause (a) each of the Loan Parties (other than Borrower) to execute the Reaffirmation of Guaranty and Security below, (b) each of the Individual Guarantors (other than Xxxx X.
Following the discovery of the collateral transfers and breaches of the Loan Documents by the Credit Parties and the Individual Guarantors, Wells Fargo attempted to exercise certain of its rights under Section 7.13 of the Credit Agreement to inspect, audit, and make extracts from the books, records, and files of the Credit Parties, including but not limited to the electronic data systems and computer records of Stamp Farms.
Accordingly, the Wells Fargo Collateral includes, without limitation, all of the Individual Guarantors’ right, title, and interest in and to the equity interests of the Individual Guarantors in the Credit Parties and all personal property of the Individual Guarantors used in connection with the business operations of the Credit Parties.
The Loans and other obligations of the Borrowers under the Credit Agreement and the other Loan Documents (as defined in the Credit Agreement), among other obligations, are guaranteed by Michael Stamp and Melissa Stamp (collectively, the “Individual Guarantors”) pursuant to a Guaranty Agreement dated December 22, 2011 by the Individual Guarantors in favor of Wells Fargo.
Despite Wells Fargo’s request for assembly, delivery, and surrender of the Credit Party Collateral and the Individual Guarantor Collateral, the Credit Parties and the Individual Guarantors have refused to deliver and surrender the collateral to Wells Fargo.