Common use of Acceleration of Guaranty Clause in Contracts

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

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

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

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