Common use of Guaranty of Payment and Not of Collection Clause in Contracts

Guaranty of Payment and Not of Collection. This Guaranty is a guaranty of payment, and not of collection, and a debt of each Guarantor for its own account. Accordingly, none of the Lenders, the Swingline Lender or the Agent shall be obligated or required before enforcing this Guaranty against any Guarantor: (a) to pursue any right or remedy any of them may have against the Borrower, any other Guarantor or any other Person or commence any suit or other proceeding against the Borrower, any other Guarantor or any other Person in any court or other tribunal; (b) to make any claim in a liquidation or bankruptcy of the Borrower, any other Guarantor or any other Person; or (c) to make demand of the Borrower, any other Guarantor or any other Person or to enforce or seek to enforce or realize upon any collateral security held by the Lenders, the Swingline Lender or the Agent which may secure any of the Guarantied Obligations.

Guaranty of Payment and Not of Collection. This Guaranty is a guaranty of payment, and not of collection, and a debt of each Guarantor for its own account. Accordingly, none of the Lenders, the Swingline Lender Administrative Agent or the Agent Guarantied Parties shall be obligated or required before enforcing this Guaranty against any Guarantor: (a) to pursue any right or remedy any of them may have against the Borrower, any other Guarantor or any other Person or commence any suit or other proceeding against the Borrower, any other Guarantor or any other Person in any court or other tribunal; (b) to make any claim in a liquidation or bankruptcy of the Borrower, any other Guarantor or any other Person; or (c) to make demand of the Borrower, any other Guarantor or any other Person or to enforce or seek to enforce or realize upon any collateral security held by the Lenders, the Swingline Lender Administrative Agent or the Agent any Guarantied Party which may secure any of the Guarantied Obligations.

Guaranty of Payment and Not of Collection. This Guaranty is a guaranty of payment, and not of collection, and a debt of each Guarantor for its own account. Accordingly, none of the Lenders, the Swingline Lender Administrative Agent or the Agent other Guarantied Parties shall be obligated or required before enforcing this Guaranty against any Guarantor: (a) to pursue any right or remedy any of them may have against the Borrower, any other Guarantor or any other Person or commence any suit or other proceeding against the Borrower, any other Guarantor or any other Person in any court or other tribunal; (b) to make any claim in a liquidation or bankruptcy of the Borrower, any other Guarantor or any other Person; or (c) to make demand of the Borrower, any other Guarantor or any other Person or to enforce or seek to enforce or realize upon any collateral security security, if any, held by the Lenders, the Swingline Lender Administrative Agent or the Agent any other Guarantied Party which may secure any of the Guarantied Obligations.

Guaranty of Payment and Not of Collection. This Guaranty is a guaranty of payment, and not of collection, and a debt of each Guarantor for its own account. Accordingly, none of the Lenders, the Swingline Lender, the Issuing Lender or the Agent shall be obligated or required before enforcing this Guaranty against any Guarantor: (a) to pursue any right or remedy any of them may have against the Borrower, any other Guarantor or any other Person or commence any suit or other proceeding against the Borrower, any other Guarantor or any other Person in any court or other tribunal; (b) to make any claim in a liquidation or bankruptcy of the Borrower, any other Guarantor or any other Person; or (c) to make demand of the Borrower, any other Guarantor or any other Person or to enforce or seek to enforce or realize upon any collateral security held by the Lenders, the Swingline Lender, the Issuing Lender or the Agent which may secure any of the Guarantied Obligations.

Guaranty of Payment and Not of Collection. This Guaranty is a guaranty of payment, and not of collection, and a debt of each Guarantor for its own account. Accordingly, none of the Lenders, the Swingline Lender Administrative Agent or the Agent other Guarantied Parties shall be obligated or required before enforcing this Guaranty against any Guarantor: (a) to pursue any right or remedy any of them may have against the Borrower, any other Guarantor or any other Person or commence any suit or other proceeding against the Borrower, any other Guarantor or any other Person in any court or other tribunal; (b) to make any claim in a liquidation or bankruptcy of the Borrower, any other Guarantor or any other Person; or (c) to make demand of the Borrower, any other Guarantor or any other Person or to enforce or seek to enforce or realize upon any collateral security held by the Lenders, the Swingline Lender Administrative Agent or the Agent any other Guarantied Party which may secure any of the Guarantied Obligations.

Guaranty of Payment and Not of Collection. This Guaranty is a guaranty of payment, and not of collection, and upon the occurrence of a Springing Recourse Event, a debt of each the Guarantor for its own account. Accordingly, none of the Lenders, the Swingline Lender or the Agent shall no Noteholder will be obligated or required before enforcing this Guaranty against any Guarantorthe Guarantor after a Springing Recourse Event: (a) to pursue any right or remedy any of them it may have against the BorrowerCompany, any other Subsidiary Guarantor or any other Person or commence any suit or other proceeding against the BorrowerCompany, any other Subsidiary Guarantor or any other Person in any court or other tribunal; (b) to make any claim in a liquidation or bankruptcy of the BorrowerCompany, the Guarantor, any other Subsidiary Guarantor or any other Person; or (c) to make demand of the BorrowerCompany, any other Subsidiary Guarantor or any other Person or to enforce or seek to enforce or realize upon any collateral security held by any Noteholder or for the Lenders, the Swingline Lender or the Agent benefit of any Noteholder which may secure any of the Guarantied Obligations.

Guaranty of Payment and Not of Collection. This Guaranty is a guaranty of payment, and not of collection, and upon the occurrence of a Springing Recourse Event, a debt of each Guarantor for its own account. Accordingly, none of the Lenders, the Swingline Lender Lenders or the Agent shall be obligated or required before enforcing this Guaranty against any GuarantorGuarantor after a Springing Recourse Event: (a) to pursue any right or remedy any of them may have against the Borrower, any other Guarantor Loan Party or any other Person or commence any suit or other proceeding against the Borrower, any other Guarantor Loan Party or any other Person in any court or other tribunal; (b) to make any claim in a liquidation or bankruptcy of the Borrower, any other Guarantor Loan Party, or any other Person; or (c) to make demand of the Borrower, any other Guarantor Loan Party or any other Person or to enforce or seek to enforce or realize upon any collateral security held by the Lenders, the Swingline Lender Lenders or the Agent which may secure any of the Guarantied Obligations.

Guaranty of Payment and Not of Collection. This Guaranty is a guaranty of payment, and not of collection, and a debt of each Guarantor for its own account. Accordingly, none of the Lenders, the Swingline Lender or the Agent and the other Lenders shall not be obligated or required before enforcing this Guaranty against any Guarantor: (a) to pursue any right or remedy any of them the Lenders or the Agent may have against the Borrower, any other Guarantor Guarantor, any other Loan Party, or any other Person or commence any suit or other proceeding against the Borrower, any other Guarantor or any other Person in any court or other tribunal; (b) to make any claim in a liquidation or bankruptcy of the Borrower, any other Guarantor Guarantor, any other Loan Party, or any other Person; or (c) to make demand of the Borrower, any other Guarantor or any other Person or to enforce or seek to enforce or realize upon any collateral security held by the Lenders, the Swingline Lender Lenders or the Agent which may secure any of the Guarantied Obligations, and each Guarantor hereby waives the right of such Guarantor to require any holder of the Obligations to take action against the Borrower or any other Guarantor as provided by any legal requirement of any Governmental Authority.

Guaranty of Payment and Not of Collection. This Guaranty is a guaranty of payment, and not of collection, and a debt of each Guarantor for its own account. Accordingly, none of the Lenders, the Swingline Lender or Issuing Bank, and the Administrative Agent shall not be obligated or required before enforcing this Guaranty against any Guarantor: (a) to pursue any right or remedy any of them the Lenders, the Issuing Bank, or the Administrative Agent may have against the Borrower, any other Guarantor Loan Party or any other Person or commence any suit or other proceeding against the Borrower, any other Guarantor Loan Party or any other Person in any court or other tribunal; (b) to make any claim in a liquidation or bankruptcy of the Borrower, any other Guarantor Loan Party or any other Person; or (c) to make demand of the Borrower, any other Guarantor Loan Party or any other Person or to enforce or seek to enforce or realize upon any collateral security security, if any, held by the Lenders, the Swingline Lender Issuing Bank, or the Administrative Agent which may secure any of the Guarantied Obligations.

Guaranty of Payment and Not of Collection. This Guaranty is a guaranty of payment, and not of collection, and a debt of each Guarantor for its own account. Accordingly, none of the Lenders, the Swingline Lender Agent or the Agent Lender Hedge Providers shall be obligated or required before enforcing this Guaranty against any Guarantor: (a) to pursue any right or remedy any of them may have against the Borrower, any other Guarantor or any other Person or commence any suit or other proceeding against the Borrower, any other Guarantor or any other Person in any court or other tribunal; (b) to make any claim in a liquidation or bankruptcy of the Borrower, any other Guarantor or any other Person; or (c) to make demand of the Borrower, any other Guarantor or any other Person or to enforce or seek to enforce or realize upon any collateral security held by the Lenders, the Swingline Lender Agent or the Agent Lender Hedge Providers which may secure any of the Guarantied Obligations.

Guaranty of Payment and Not of Collection. This Guaranty is a guaranty of payment, and not of collection, and a debt of each Guarantor for its own account. Accordingly, none of the Lenders, the Swingline Lender Issuing Bank or the Agent shall be obligated or required before enforcing this Guaranty against any Guarantor: (a) to pursue any right or remedy any of them may have against either of the BorrowerBorrowers, any other Guarantor or any other Person or commence any suit or other proceeding against either of the BorrowerBorrowers, any other Guarantor or any other Person in any court or other tribunal; (b) to make any claim in a liquidation or bankruptcy of either of the BorrowerBorrowers, any other Guarantor or any other Person; or (c) to make demand of either of the BorrowerBorrowers, any other Guarantor or any other Person or to enforce or seek to enforce or realize upon any collateral security held by the Lenders, the Swingline Lender Issuing Bank or the Agent which may secure any of the Guarantied Obligations.

Guaranty of Payment and Not of Collection. This Guaranty is a guaranty of payment, and not of collection, and a debt of each Guarantor for its own account. Accordingly, none of the Lenders, the Swingline Lender or the Administrative Agent shall be obligated or required before enforcing this Guaranty against any Guarantor: (a) to pursue any right or remedy any of them may have against the Borrower, any other Guarantor or any other Person or commence any suit or other proceeding against the Borrower, any other Guarantor or any other Person in any court or other tribunal; (b) to make any claim in a liquidation or bankruptcy of the Borrower, any other Guarantor or any other Person; or (c) to make demand of the Borrower, any other Guarantor or any other Person or to enforce or seek to enforce or realize upon any collateral security held by the Lenders, the Swingline Lender or the Administrative Agent which may secure any of the Guarantied Obligations.

Guaranty of Payment and Not of Collection. This Guaranty is a guaranty of payment, and not of collection, and a debt of each Guarantor for its own account. Accordingly, none of the Lenders, Lenders nor the Swingline Lender or the Administrative Agent shall be obligated or required before enforcing this Guaranty against any Guarantor: (a) to pursue any right or remedy any of them may have against the Borrower, any other Guarantor or any other Person or commence any suit or other proceeding against the Borrower, any other Guarantor or any other Person in any court or other tribunal; (b) to make any claim in a liquidation or bankruptcy of the Borrower, any other Guarantor or any other Person; or (c) to make demand of the Borrower, any other Guarantor or any other Person or to enforce or seek to enforce or realize upon any collateral security held by the Lenders, the Swingline Lender Lenders or the Administrative Agent which may secure any of the Guarantied Obligations.

Guaranty of Payment and Not of Collection. This Subsidiary Guaranty is a guaranty of payment, and not of collection, and a debt of each Subsidiary Guarantor for its own account. Accordingly, none of the Lenders, the Swingline Lender or the Agent Guarantied Parties shall not be obligated or required before enforcing this Subsidiary Guaranty against any Subsidiary Guarantor: (a) to pursue any right or remedy any of them the Guarantied Parties may have against the BorrowerCompany, any other Subsidiary Guarantor or any other Person or commence any suit or other proceeding against the BorrowerCompany, any other Subsidiary Guarantor or any other Person in any court or other tribunal; (b) to make any claim in a liquidation or bankruptcy of the BorrowerCompany, any other Subsidiary Guarantor or any other Person; or (c) to make demand of the BorrowerCompany, any other Subsidiary Guarantor or any other Person or to enforce or seek to enforce or realize upon any collateral security held by the Lenders, the Swingline Lender or the Agent Guarantied Parties which may secure any of the Guarantied Obligations.

Guaranty of Payment and Not of Collection. This Guaranty is a guaranty of paymentpayment and performance when due, and not of collection, and a debt of each Guarantor for its own account. Accordingly, none of the Lenders, the Swingline Lender or the Agent Credit Parties shall be obligated or required before enforcing this Guaranty against any Guarantor: (a) to pursue any right or remedy any of them may have against the Borrower, any other Guarantor or any other Person or commence any suit or other proceeding against the Borrower, any other Guarantor or any other Person in any court or other tribunal; (b) to make any claim in a liquidation or bankruptcy of the Borrower, any other Guarantor or any other Person; or (c) to make demand of the Borrower, any other Guarantor or any other Person or to enforce or seek to enforce or realize upon any collateral security held by the Lenders, the Swingline Lender or the Agent a Credit Party which may secure any of the Guarantied Obligations; or (d) to exercise any rights of set-off or other rights or remedies against any deposit account or credit on the books of any Credit Party or any other Person or to any other guarantor of all or part of the Guarantied Obligations.

Guaranty of Payment and Not of Collection. This Guaranty is a guaranty of payment, and not of collection, and a debt of each the Guarantor for its own account. Accordingly, none of the Lenders, the Swingline Lender or the Agent no Guarantied Party shall be obligated or required before enforcing this Guaranty against any the Guarantor: (a) to pursue any right or remedy any of them it may have against the BorrowerCompany, any other Guarantor guarantor of the Guarantied Obligations or any other Person or commence any suit or other proceeding against the BorrowerCompany, any other Guarantor guarantor of the Guarantied Obligations or any other Person in any court or other tribunal; (b) to make any claim in a liquidation or bankruptcy of the BorrowerCompany, any other Guarantor guarantor of the Guarantied Obligations or any other Person; or (c) to make demand of the BorrowerCompany, any other Guarantor guarantor of the Guarantied Obligations or any other Person or to enforce or seek to enforce or realize upon any collateral security held by or for the Lenders, the Swingline Lender or the Agent benefit of any Guarantied Party which may secure any of the Guarantied Obligations.

Guaranty of Payment and Not of Collection. This Guaranty is a guaranty of payment, and not of collection, and a debt of each Guarantor for its own account. Accordingly, none of the Lenders, the Swingline Lender Issuing Bank or the Administrative Agent shall be obligated or required before enforcing this Guaranty against any Guarantor: (a) to pursue any right or remedy any of them may have against the Borrower, any other Guarantor or any other Person or commence any suit or other proceeding against the Borrower, any other Guarantor or any other Person in any court or other tribunal; (b) to make any claim in a liquidation or bankruptcy of the Borrower, any other Guarantor or any other Person; or (c) to make demand of the Borrower, any other Guarantor or any other Person or to enforce or seek to enforce or realize upon any collateral security held by the Lenders, the Swingline Lender Issuing Bank or the Administrative Agent which may secure any of the Guarantied Obligations.

Guaranty of Payment and Not of Collection. This Guaranty is a ----------------------------------------- guaranty of payment, and not of collection, and a debt of each Guarantor for its own account. Accordingly, none of neither the Lenders, Lenders nor the Swingline Lender or the Administrative Agent shall be obligated or required before enforcing this Guaranty against any Guarantor: (a) to pursue any right or remedy any of them the Lenders or the Administrative Agent may have against the Borrower, any other Guarantor or any other Person or commence any suit or other proceeding against the Borrower, any other Guarantor or any other Person in any court or other tribunal; (b) to make any claim in a liquidation or bankruptcy of the Borrower, any other Guarantor or any other Person; or (c) to make demand of the Borrower, any other Guarantor or any other Person or to enforce or seek to enforce or realize upon any collateral security held by the Lenders, the Swingline Lender Lenders or the Administrative Agent which may secure any of the Guarantied Obligations.

Guaranty of Payment and Not of Collection. This Guaranty The guaranty by each Guarantor under this Article is a guaranty of payment, and not of collection, and a debt of each such Guarantor for its own account. Accordingly, none of the Lenders, the Swingline Lender or the Agent shall not be obligated or required before enforcing the obligations of a Guarantor under this Guaranty Article against any such Guarantor: (a) to pursue any right or remedy any of them the Lender may have against the Borrower, any other Guarantor Loan Party or any other Person or commence any suit or other proceeding against the Borrower, any other Guarantor Loan Party or any other Person in any court or other tribunal; (b) to make any claim in a liquidation or bankruptcy of the Borrower, any other Guarantor Loan Party or any other Person; or (c) to make demand of the Borrower, any other Guarantor Loan Party or any other Person or to enforce or seek to enforce or realize upon any collateral security held by the Lenders, the Swingline Lender or the Agent which may secure any of the Guarantied Obligations.

Guaranty of Payment and Not of Collection. This Guaranty is a guaranty of payment, and not of collection, and a debt of each Guarantor for its own account. Accordingly, none of the Lenders, the Swingline Lender or Lenders and the Agent shall not be obligated or required before enforcing this Guaranty against any Guarantor: (a) to pursue any right or remedy any of them the Lenders or the Agent may have against the Borrower, any other Guarantor or any HOU:0007002/04558:1716085v10 other Person or commence any suit or other proceeding against the Borrower, any other Guarantor or any other Person in any court or other tribunal; (b) to make any claim in a liquidation or bankruptcy of the Borrower, any other Guarantor or any other Person; or (c) to make demand of the Borrower, any other Guarantor or any other Person or to enforce or seek to enforce or realize upon any collateral security held by the Lenders, the Swingline Lender Lenders or the Agent which may secure any of the Guarantied Obligations. In this connection, each Guarantor hereby waives the right of such Guarantor to require any holder of the Obligations to take action against the Borrower as provided by any legal requirement of any Governmental Authority.

Guaranty of Payment and Not of Collection. This Guaranty is a guaranty of payment, and not of collection, and a debt of each Guarantor for its own account. Accordingly, none of the Lenders, the Swingline Lender Lenders or the Administrative Agent shall be obligated or required before enforcing this Guaranty against any Guarantor: (a) to pursue any right or remedy any of them may have against the Borrower, any other Guarantor or any other Person or commence any suit or other proceeding against the Borrower, any other Guarantor or any other Person in any court or other tribunal; (b) to make any claim in a liquidation or bankruptcy of the Borrower, any other Guarantor or any other Person; or (c) to make demand of the Borrower, any other Guarantor or any other Person or to enforce or seek to enforce or realize upon any collateral security held by the Lenders, the Swingline Lender Lenders or the Administrative Agent which may secure any of the Guarantied Obligations.

Guaranty of Payment and Not of Collection. This Guaranty is a guaranty of payment, and not of collection, and a debt of each Guarantor for its own account. Accordingly, none of the Lenders, the Swingline Lender or the Agent Secured Beneficiaries shall be obligated or required before enforcing this Guaranty against any Guarantor: (a) to pursue any right or remedy any of them may have against the Borrower, any other Guarantor or any other Person or commence any suit or other proceeding against the Borrower, any other Guarantor or any other Person in any court or other tribunal; (b) to make any claim in a liquidation or bankruptcy of the Borrower, any other Guarantor or any other Person; or (c) to make demand of the Borrower, any other Guarantor or any other Person or to enforce or seek to enforce or realize upon any collateral security held by the Lenders, the Swingline Lender Secured Beneficiaries or the Agent which may secure any of the Guarantied Obligations.

Guaranty of Payment and Not of Collection. This Guaranty is a guaranty of payment, and not of collection, and a debt of each Guarantor for its own account. Accordingly, none of the Lenders, the Swingline Lender Lender, the Issuing Bank or the Administrative Agent shall be obligated or required before enforcing this Guaranty against any Guarantor: (a) to pursue any right or remedy any of them may have against the Borrower, any other Guarantor Loan Party or any other Person or commence any suit or other proceeding against the Borrower, any other Guarantor Loan Party or any other Person in any court or other tribunal; (b) to make any claim in a liquidation or bankruptcy of the Borrower, any other Guarantor Loan Party or any other Person; or (c) to make demand of the Borrower, any other Guarantor Loan Party or any other Person or to enforce or seek to enforce or realize upon any collateral security held by the Lenders, the Swingline Lender Lender, the Issuing Bank or the Administrative Agent which may secure any of the Guarantied Obligations.

Guaranty of Payment and Not of Collection. This Guaranty is a guaranty of payment, and not of collection, and a debt of each Guarantor for its own account. Accordingly, none of the Lenders, the Swingline Lender or the Agent and the Lenders shall not be obligated or required before enforcing this Guaranty against any Guarantor: (a) to pursue any right or remedy any of them the Lenders or the Agent may have against the Borrower, any other Guarantor Guarantor, any other Credit Party, or any other Person or commence any suit or other proceeding against the Borrower, any other Guarantor or any other Person in any court or other tribunal; (b) to make any claim in a liquidation or bankruptcy of the Borrower, any other Guarantor Guarantor, any other Credit Party, or any other Person; or (c) to make demand of the Borrower, any other Guarantor or any other Person or to enforce or seek to enforce or realize upon any collateral security held by the Lenders, the Swingline Lender Lenders or the Agent which may secure any of the Guarantied Obligations, and each Guarantor hereby waives the right of such Guarantor to require any holder of the Obligations to take action against Borrower or any other Guarantor as provided by any legal requirement of any Governmental Authority.

Guaranty of Payment and Not of Collection. This Guaranty is a guaranty of payment, and not of collection, and a debt of each Guarantor for its own account. Accordingly, none of neither the Lenders, the Swingline Lender or Lenders nor the Agent shall be obligated or required before enforcing this Guaranty against any Guarantor: (a) to pursue any right or remedy any of them may have against the Borrower, any other Guarantor or any other Person or commence any suit or other proceeding against the Borrower, any other Guarantor or any other Person in any court or other tribunal; (b) to make any claim in a liquidation or bankruptcy of the Borrower, any other Guarantor or any other Person; or (c) to make demand of the Borrower, any other Guarantor or any other Person or to enforce or seek to enforce or realize upon any collateral security held by the Lenders, the Swingline Lender Lenders or the Agent which may secure any of the Guarantied Obligations.

Guaranty of Payment and Not of Collection. This Subsidiary Guaranty is a guaranty of payment, and not of collection, and a debt of each Subsidiary Guarantor for its own account. Accordingly, none of the Lenders, the Swingline Lender or the Agent shall no Noteholder will be obligated or required before enforcing this Subsidiary Guaranty against any Subsidiary Guarantor: (a) to pursue any right or remedy any of them it may have against the BorrowerCompany, the Parent, any other Subsidiary Guarantor or any other Person or commence any suit or other proceeding against the BorrowerCompany, the Parent, any other Subsidiary Guarantor or any other Person in any court or other tribunal; (b) to make any claim in a liquidation or bankruptcy of the BorrowerCompany, the Parent, any other Subsidiary Guarantor or any other Person; or (c) to make demand of the BorrowerCompany, the Parent, any other Subsidiary Guarantor or any other Person or to enforce or seek to enforce or realize upon any collateral security held by any Noteholder or for the Lenders, the Swingline Lender or the Agent benefit of any Noteholder which may secure any of the Guarantied Obligations.

Guaranty of Payment and Not of Collection. This Guaranty is a guaranty of payment, and not of collection, and a debt of each Guarantor for its own account. Accordingly, none of the Lenders, the Swingline Lender Agent or the Agent other Secured Parties shall be obligated or required before enforcing this Guaranty against any Guarantor: (a) to pursue any right or remedy any of them may have against the Borrower, any other Guarantor or any other Person or commence any suit or other proceeding against the Borrower, any other Guarantor or any other Person in any court or other tribunal; (b) to make any claim in a liquidation or bankruptcy of the Borrower, any other Guarantor or any other Person; or (c) to make demand of the Borrower, any other Guarantor or any other Person or to enforce or seek to enforce or realize upon any collateral security held by the Lenders, the Swingline Lender Agent or the Agent any other Secured Party which may secure any of the Guarantied Obligations.