Common use of Additional Covenants of Guarantor Clause in Contracts

Additional Covenants of Guarantor. The Guarantor agrees that the liability of the Guarantor hereunder shall not in anyway be released, diminished, impaired, reduced, or affected by: (a) The taking or accepting of any other security or guaranty for any or all of the Indebtedness; (b) Any release, withdrawal, surrender, exchange, substitution, subordination, or loss of any security or other guaranty at any time existing in connection with any or all of the Indebtedness; any partial release of the liability of any other Guarantor hereunder or under any of the Loan Documents had, or to be had, in connection with, or as security for, any of the Indebtedness, or the corporate dissolution, insolvency, bankruptcy, disability, or lack of authority of Borrower, Guarantor, or any other guarantor or any party at any time liable for the payment of any or all of the Indebtedness, whether now existing or hereafter occurring; (c) Any renewal, extension, modification, or rearrangement of the payment of any or all of the Indebtedness, or the performance of any covenant contained in any Loan Document had, or to be had, in connection with, or as security for, the Indebtedness, either with or without notice to, or consent of, such Guarantor or any adjustment, indulgence, forbearance, or compromise that may be granted or given by Xxxxxx to any party; or (d) Any neglect, delay, omission, failure, or refusal of Lender to take or prosecute any action for the collection of any of the Indebtedness or to foreclose or take or prosecute any action in connection with any lien, right, or security existing or to exist in connection with, or as security for, any of the Indebtedness; or to take any action hereunder; it being the intention hereof that Guarantor shall remain liable as principal until the full amount of the Indebtedness, together with interest, and any other sums due or to become due upon or in connection with any of the same, shall have been fully paid, performed and observed by Xxxxxxxx.

Appears in 4 contracts

Samples: Unconditional Guaranty (Genzyme Transgenics Corp), Unconditional Guaranty (Genzyme Transgenics Corp), Unconditional Guaranty (Genzyme Transgenics Corp)

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