Common use of Additional and Independent Obligations Clause in Contracts

Additional and Independent Obligations. Guarantor's obligations under this Guaranty are in addition to its obligations under any future guaranties, each of which shall remain in full force and effect until it is expressly modified or released in a writing signed by Agent and consented to by the Lenders. Guarantor's obligations under this Guaranty are independent of those of Acquisition Sub on the Guarantied Indebtedness. Except as provided in Section 2.01(b)(i), Agent or the Lenders may bring a separate action, or commence a separate arbitration proceeding, against Guarantor without first proceeding against Acquisition Sub, any other Guarantor or person or any security that Agent or any Lender may hold, and without pursuing any other remedy. None of Agent's or any Lender's rights under this Guaranty shall be exhausted by any action by Agent or any Lender until the Guarantied Indebtedness has been paid and performed in full in cash.

Appears in 2 contracts

Samples: Joinder Agreement (Apartment Investment & Management Co), Credit Agreement (Apartment Investment & Management Co)

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Additional and Independent Obligations. Each Guarantor's obligations under this Guaranty are in addition to its obligations under any future guaranties, each of which shall remain in full force and effect until it is expressly modified or released in a writing signed by Administrative Agent and consented to by the Lenders. Each Guarantor's obligations under this Guaranty are independent of those of Acquisition Sub Borrowers on the Guarantied Indebtedness. Except as provided in Section 2.01(b)(i)Subject to SECTION 8.02 of the Credit Agreement, Administrative Agent or the Lenders may bring a separate action, or commence a separate arbitration proceeding, proceeding against each Guarantor without first proceeding against Acquisition SubBorrowers, any other Guarantor or person or any security that Administrative Agent or any Lender may hold, and without pursuing any other remedy. None of Administrative Agent's or any Lender's rights under this Guaranty shall be exhausted by any action by Administrative Agent or any Lender until the Guarantied Indebtedness has been paid and performed in full in cash.

Appears in 1 contract

Samples: Payment Guaranty (Apartment Investment & Management Co)

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Additional and Independent Obligations. Completion Guarantor's obligations under this Completion Guaranty are in addition to its obligations under any other existing or future guarantiesguaranties given in connection with the Loan Agreement, each of which and they shall remain in full force and effect until it is expressly modified (a) they are performed in full or released (b) they terminate in a writing signed by Agent and consented to by accordance with the Lendersterms hereof. Completion Guarantor's obligations under this Completion Guaranty are independent of those of Acquisition Sub on Borrower under the Guarantied Indebtednessother Loan Documents. Except as provided in Section 2.01(b)(i), The Administrative Agent or the Lenders may bring a separate action, or commence a separate reference or arbitration proceeding, proceeding against Completion Guarantor without first proceeding against Acquisition SubBorrower, any other Guarantor or person or any security that the Administrative Agent or any Lender the Creditors may hold, and without pursuing any other remedy. None of Agent's or any Lender's The rights under this Completion Guaranty shall not be exhausted by any action by the Administrative Agent or any Lender or Creditor until the Guarantied Indebtedness has Loans have been paid and performed in full in cashfull.

Appears in 1 contract

Samples: Station Casinos Inc

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