Common use of Actions against Guarantor Clause in Contracts

Actions against Guarantor. The agreements, obligations, warranties and representations of the Guarantor are independent of the obligations of Borrower and, in the event of any default, a separate action or actions may be brought and prosecuted against Guarantor regardless of whether Borrower is joined therein or a separate action or actions is brought before, after or simultaneously against Borrower. Lender may maintain successive actions for defaults. Lender's rights shall not be exhausted by the exercise of any of its rights or remedies or by any such action or by any number of successive actions until and unless all obligations hereby guaranteed have been fully paid and performed. If Lender is compelled at any time to take any action or proceeding in court or otherwise to enforce or compel compliance with the terms of this Guaranty, Guarantor shall, in addition to any other rights and remedies to which Lender may be entitled hereunder or as a matter of law or in equity, be obligated to pay all costs, including without limitation reasonable attorneys' fees, incurred or expended by Lender in connection with such enforcement proceedings. Lender may resort to Guarantor for payment of any of the obligations under the Financing Agreements, whether or not Lender (i) shall have resorted to any property securing any of the obligations under the Financing Agreements or (ii) shall have proceeded against any other obligor primarily or secondarily obligated with respect to any of the 2 obligations under the Financing Agreements (all of the actions referred to in preceding clauses (i) and (ii) being hereby expressly waived by the Guarantor).

Actions against Guarantor. The agreements, obligations, warranties and representations of the Guarantor are independent of the obligations of Borrower and, in In the event of a default in the payment or performance of all or any defaultpart of the Guaranteed Indebtedness when such Guaranteed Indebtedness becomes due, a separate action whether by its terms, by acceleration or otherwise, (i) Guarantor shall, without notice or demand, promptly pay the amount due thereon to Bank, in lawful money of the United States, at Bank's address set forth in subparagraph 1(a) above, (ii) Bank may exercise any of its rights and remedies set forth in the Pledge Agreement or any other rights or remedies permitted at law or in equity and/or (iii) Bank shall be entitled to offset the deposit account of Guarantor held by Bank (and which has been pledged by Bank pursuant to the Pledge Agreement) against the Guaranteed Indebtedness. One or more successive or concurrent actions may be brought and prosecuted against Guarantor regardless of whether Guarantor, either in the same action in which Borrower is joined therein sued or a in separate action actions, as often as Bank deems advisable. The exercise by Bank of any right or actions is brought beforeremedy under this Guaranty or under any other agreement or instrument, after at law, in equity or simultaneously against Borrower. Lender may maintain successive actions for defaults. Lender's rights otherwise, shall not be exhausted by the preclude concurrent or subsequent exercise of any other right or remedy. The books and records of its rights or remedies or by any such action or by any number of successive actions until and unless all obligations hereby guaranteed have been fully paid and performed. If Lender is compelled at any time to take Bank shall be admissible in evidence in any action or proceeding in court or otherwise to enforce or compel compliance with involving this Guaranty and shall be prima facie evidence of the terms of this Guarantypayments made on, Guarantor shalland the outstanding balance of, in the Guaranteed Indebtedness. In addition to the foregoing, all property of Guarantor now or hereafter in the possession or custody of or in transit to Bank for any other rights and remedies purpose, including safekeeping, collection or pledge, for the account of Guarantor, or as to which Lender Guarantor may be entitled hereunder have any right or as a matter of law or in equity, be obligated to pay all costs, power (including without limitation reasonable attorneys' feeslimitation, incurred or expended the deposit account described in the Pledge Agreement), shall be held by Lender Bank subject to a lien and security interest in connection with such enforcement proceedingsfavor of Bank to secure payment and performance of all obligations and liabilities of Guarantor to Bank hereunder. Lender may resort The balance of every account of Guarantor with, and each claim of Guarantor against, Bank existing from time to time shall be subject to a lien and subject to set-off against any and all liabilities of Guarantor for to Bank, and Bank may, at any time and from time to time at its option and without notice, appropriate and apply toward the payment of any of such liabilities the obligations under the Financing Agreements, whether balance of each such account or not Lender (i) shall have resorted to any property securing any claim of the obligations under the Financing Agreements or (ii) shall have proceeded Guarantor against any other obligor primarily or secondarily obligated with respect to any of the 2 obligations under the Financing Agreements (all of the actions referred to in preceding clauses (i) and (ii) being hereby expressly waived by the Guarantor)Bank.

Actions against Guarantor. The agreements, obligations, warranties and representations of the Guarantor are independent of the obligations of Borrower and, in the event of any default, a separate action or actions may be brought and prosecuted against Guarantor regardless of whether Borrower is joined therein or a separate action or actions is brought before, after or simultaneously against Borrower. Lender may maintain successive actions for defaults. Lender's rights shall not be exhausted by the exercise of any of its rights or remedies or by any such action or by any number of successive actions until and unless all obligations hereby guaranteed have been fully paid and performed. If Lender is compelled at any time to take any action or proceeding in court or otherwise to enforce or compel compliance with the terms of this Guaranty, Guarantor shall, in addition to any other rights and remedies to which Lender may be entitled hereunder or as a matter of law or in equity, be obligated to pay all costs, including without limitation reasonable attorneys' fees, incurred or expended by Lender in connection with such enforcement proceedings. Lender may resort to Guarantor for payment of any of the obligations under the Financing Agreements, whether or not Lender (i) shall have resorted to any property securing any of the obligations under the Financing Agreements or (ii) shall have proceeded against any other obligor primarily or secondarily obligated with respect to any of the 2 obligations under the Financing Agreements (all of the actions referred to in preceding clauses (i) and (ii) being hereby expressly waived by the Guarantor).

Actions against Guarantor. The agreements, obligations, warranties and representations Upon the occurrence of an Event of Default in the payment or performance of all or any part of the Guaranteed Indebtedness when such Guaranteed Indebtedness becomes due, whether by its terms, by acceleration or otherwise, Guarantor are independent shall, without notice or demand, promptly pay the amount due thereon to Agent, in lawful money of the obligations of Borrower andUnited States, at Agent's address set forth in the event of any default, a separate action subparagraph 1(a) above. One or more successive or concurrent actions may be brought and prosecuted against Guarantor regardless of whether Guarantor, either in the same action in which Borrower is joined therein sued or a in separate action actions, as often as Agent deems advisable. The exercise by Agent or actions is brought beforeany Lender of any right or remedy under this Guaranty or under any other agreement or instrument (including any Loan Document), after at law, in equity or simultaneously against Borrower. Lender may maintain successive actions for defaults. Lender's rights otherwise, shall not be exhausted by the preclude concurrent or subsequent exercise of any other right or remedy. The books and records of its rights or remedies or by any such action or by any number of successive actions until and unless all obligations hereby guaranteed have been fully paid and performed. If Lender is compelled at any time to take Agent shall be admissible in evidence in any action or proceeding in court or otherwise to enforce or compel compliance with involving this Guaranty and shall be prima facie evidence of the terms payments made on, and the outstanding balance of, the Guaranteed Indebtedness. If there is more than one Guarantor of this Guarantythe Guaranteed Indebtedness, Guarantor shall, in addition to any other rights and remedies to which Lender suit may be entitled hereunder or as a matter brought against any Guarantor, jointly and severally and against less than all of law or in equity, be obligated to pay all costs, including them without limitation reasonable attorneys' fees, incurred or expended by Lender in connection impairing the rights of Agent and the Lenders against the other Guarantors; and Agent and the Lenders may compromise with such enforcement proceedings. Lender may resort to Guarantor for payment of any of the obligations under Guarantors for less than all of the Financing Agreements, whether or not Lender (i) shall have resorted to any property securing Guaranteed Indebtedness and release any of the obligations under Guarantors from all further liability to Agent and the Financing Agreements or (ii) shall have proceeded against any other obligor primarily or secondarily obligated with respect Lenders for the Guaranteed Indebtedness without impairing the right of Agent and Lenders to any demand and collect the balance of the 2 obligations under Guaranteed Indebtedness from other Guarantors not so released, but it is agreed among any such Guarantors that such compromising and release shall not impair the Financing Agreements (all rights of the actions referred to in preceding clauses (i) and (ii) being hereby expressly waived by the Guarantor)Guarantors as among themselves.

Actions against Guarantor. The agreements, obligations, warranties and representations In the event of a default in the payment or performance of all or any part of the Guarantor are independent of the obligations of Borrower andGuaranteed Indebtedness when such Guaranteed Indebtedness becomes due, whether by its terms, by acceleration or otherwise or in the event of any defaultthe occurrence of an Insolvency Event (as hereinafter defined), a separate action Guarantor shall, without notice or demand, promptly either, at the sole election of the Bank, (i) pay the amount due thereon to Bank, in lawful money of the United States, at Bank's address set forth hereinabove or (ii) purchase the Note from the Bank at an amount equal to the then outstanding principal, plus all accrued but unpaid interest and fees. One or more successive or concurrent actions may be brought and prosecuted against Guarantor regardless of whether Guarantor, either in the same action in which Borrower is joined therein sued or a in separate action actions, as often as Bank deems advisable. The exercise by Bank of any right or actions is brought beforeremedy under this Guaranty or under any other agreement or instrument, after at law, in equity or simultaneously against Borrower. Lender may maintain successive actions for defaults. Lender's rights otherwise, shall not be exhausted by the preclude concurrent or subsequent exercise of any other right or remedy. The books and records of its rights or remedies or by any such action or by any number of successive actions until and unless all obligations hereby guaranteed have been fully paid and performed. If Lender is compelled at any time to take Bank shall be admissible in evidence in any action or proceeding in court or otherwise to enforce or compel compliance with the terms of involving this Guaranty, Guarantor shall, in addition to any other rights Guaranty and remedies to which Lender may shall be entitled hereunder or as a matter of law or in equity, be obligated to pay all costs, including without limitation reasonable attorneys' fees, incurred or expended by Lender in connection with such enforcement proceedings. Lender may resort to Guarantor for payment of any PRIMA FACIE evidence of the obligations under payments made on, and the Financing Agreementsoutstanding balance of, whether or not Lender the Guaranteed Indebtedness. The term "Insolvency Event" is used herein to mean (i) shall have resorted the commencement of either voluntary or involuntary proceedings brought by or against Borrower seeking the liquidation, reorganization or other relief with respect to itself or its assets under any property securing any bankruptcy, insolvency or similar law now or hereafter in effect or seeking the appointment of the obligations under the Financing Agreements a trustee, receiver, liquidator or custodian or other similar official of all of its or a substantial portion of its assets or properties, or (ii) the consent by Borrower to any such relief or to the appointment or taking possession of such official in an involuntary case or other proceeding commenced against it, or (iii) the general assignment by Borrower for the benefit of creditors or Borrower shall have proceeded against fail generally to pay its debts as they become due, or (iv) the taking by Borrower of any other obligor primarily or secondarily obligated with respect to corporate action authorizing any of the 2 obligations under foregoing. It is the Financing Agreements (all intent of the actions referred parties hereto that upon the occurrence of an Insolvency Event, no notice or demand whatsoever shall be required to in preceding clauses (i) and (ii) being hereby expressly waived by be given Borrower or Guarantor prior to the Guarantor)effectiveness of this paragraph.