Common use of Acceleration of Guaranty Clause in Contracts

Acceleration of Guaranty. The Guarantor agrees that, in the event of the dissolution or insolvency of a Borrower, any other Obligor or the Guarantor, or the inability or failure of a Borrower, any other Obligor or the Guarantor to pay debts as they become due, or an assignment by a Borrower, any other Obligor or the Guarantor for the benefit of creditors, or the commencement of any case or proceeding in respect of a Borrower, any other Obligor or the Guarantor under any bankruptcy, insolvency or similar laws, and if such event shall occur at a time when any of the Obligations of each Borrower and each other Obligor may not then be due and payable, the Guarantor agrees that it will pay to the Lenders forthwith the full amount which would be payable hereunder by the Guarantor if all such Obligations were then due and payable.

Acceleration of Guaranty. The Guarantor agrees that, in the event of the dissolution or insolvency of a the Borrower, any other Obligor or the Guarantor, or the inability or failure of a the Borrower, any other Obligor or the Guarantor to pay debts as they become due, or an assignment by a the Borrower, any other Obligor or the Guarantor for the benefit of creditors, or the commencement of any case or proceeding in respect of a the Borrower, any other Obligor or the Guarantor under any bankruptcy, insolvency or similar laws, and if such event shall occur at a time when any of the Obligations of each the Borrower and each other Obligor may not then be due and payable, the Guarantor agrees that it will pay to the Lenders forthwith the full amount which would be payable hereunder by the Guarantor if all such Obligations were then due and payable.

Acceleration of Guaranty. The Each Guarantor agrees that, in the event of the dissolution or insolvency of a the Borrower, such Guarantor, or any other Obligor or the GuarantorLoan Party, or the inability or failure of a the Borrower, such Guarantor, or any other Obligor or the Guarantor Loan Party to pay debts as they become due, or an assignment by a the Borrower, such Guarantor, or any other Obligor or the Guarantor Loan Party for the benefit of creditors, or the commencement of any case or proceeding in respect of a the Borrower, such Guarantor, or any other Obligor or the Guarantor Loan Party under any bankruptcy, insolvency or similar laws, and if such event shall occur at a time when any of the Obligations of each the Borrower and each or any other Obligor Loan Party may not then be due and payable, the such Guarantor agrees that it will pay to the Lenders Lender Parties forthwith the full amount which would be payable hereunder by the such Guarantor if all such Obligations were then due and payable.

Acceleration of Guaranty. The Guarantor agrees that, in the event of the dissolution or insolvency of a BorrowerGFI, any other Obligor or the Guarantor, or the inability or failure of a BorrowerGFI, any other Obligor or the Guarantor to pay debts as they become due, or an assignment by a BorrowerGFI, any other Obligor or the Guarantor for the benefit of creditors, or the commencement of any case or proceeding in respect of a BorrowerGFI, any other Obligor or the Guarantor under any bankruptcy, insolvency or similar laws, and if such event shall occur at a time when any of the Obligations of each Borrower GFI and each other Obligor may not then be due and payable, the Guarantor agrees that it will pay to the Lenders forthwith the full amount which would be payable hereunder by the Guarantor if all such Obligations were then due and payable.

Acceleration of Guaranty. The Each Guarantor agrees that, in the event of the dissolution or insolvency of a Borrower, any other Obligor or the such Guarantor, or the inability or failure of a Borrower, any other Obligor or the such Guarantor to pay debts as they become due, or an assignment by a Borrower, any other Obligor or the such Guarantor for the benefit of creditors, or the commencement of any case or proceeding in respect of a Borrower, any other Obligor or the such Guarantor under any bankruptcy, insolvency or similar laws, and if such event shall occur at a time when any of the Obligations of each Borrower and each other Obligor may not then be due and payable, the such Guarantor agrees that it will pay to the Lenders forthwith the full amount which would be payable hereunder by the such Guarantor if all such Obligations were then due and payable.

Acceleration of Guaranty. The Guarantor agrees that, in the event of the dissolution or insolvency of a the Borrower, any other Obligor or the Guarantor, or the inability or failure of a the Borrower, any other Obligor or the Guarantor to pay debts as they become due, or an assignment by a the Borrower, any other Obligor or the Guarantor for the benefit of creditors, or the commencement of any case or proceeding in respect of a the Borrower, any other Obligor or the Guarantor under any bankruptcy, insolvency or similar laws, and if such event shall occur at a time when any of the Obligations of each the Borrower and each other Obligor may not then be due and payable, the Guarantor agrees that it will pay to the Lenders Lender forthwith the full amount which would be payable hereunder by the Guarantor if all such Obligations were then due and payable.

Acceleration of Guaranty. The Each Guarantor agrees that, in the event of the dissolution or insolvency of a the Borrower, any other Obligor or the any other Guarantor, or the inability or failure of a the Borrower, any other Obligor or the any other Guarantor to pay debts as they become due, or an assignment by a the Borrower, any other Obligor or the any other Guarantor for the benefit of creditors, or the commencement of any case or proceeding in respect of a the Borrower, any other Obligor or the any other Guarantor under any bankruptcy, insolvency or similar laws, and if such event shall occur at a time when any of the Obligations of each the Borrower and each other Obligor may not then be due and payable, the each Guarantor agrees that it will pay to the Lenders forthwith the full amount which would be payable hereunder by the each Guarantor if all such Obligations were then due and payable.

Acceleration of Guaranty. The Guarantor agrees that, in the event of the dissolution or insolvency of a BorrowerFoamex, any other Obligor or the Guarantor, or the inability or failure of a BorrowerFoamex, any other Obligor or the Guarantor to pay debts as they become due, or an assignment by a BorrowerFoamex, any other Obligor or the Guarantor for the benefit of creditors, or the commencement of any case or proceeding in respect of a BorrowerFoamex, any other Obligor or the Guarantor under any bankruptcy, insolvency or similar laws, and if such event shall occur at a time when any of the Obligations of each Borrower Foamex and each other Obligor may not then be due and payable, the Guarantor agrees that it will pay to the Lenders forthwith the full amount which would be payable hereunder by the Guarantor if all such Obligations were then due and payable.