Common use of Reaffirmation of the Guaranty Clause in Contracts

Reaffirmation of the Guaranty. In his or her sole discretion, the Chairman may, from time to time, require the Guarantor to reaffirm its obligations under this Agreement by re-executing the form of this Agreement as it may subsequently be revised by the Commission. The Guarantor shall comply with the Chairman’s demand for such a reaffirmation within fifteen (15) days of its receipt. Notwithstanding the foregoing, the Guarantor shall remain liable under the terms of this Agreement even in the absence of any such reaffirmation.

Appears in 4 contracts

Samples: www2.illinois.gov, www2.illinois.gov, iwcc.illinois.gov

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