Common use of Additional Payment Guaranty Clause in Contracts

Additional Payment Guaranty. (a) As a material inducement to Lender to enter into this Agreement and to consent to the Requested Actions, and in addition to, and not in substitution for or modification or amendment of, the provisions of the Guaranty, New Indemnitor hereby absolutely, unconditionally and irrevocably guarantees to Lender the full and prompt payment of any deductible for any insurance policy required by Sections 2(a), 2(c), 2(e), or 2(g) of the Security Instrument which is not paid by Aurora under the Aurora Lease (the “Property Insurance Deductible”) within ten (10) days after such amount becomes due and payable (the "Insurance Deductible Guaranty") and New Indemnitor shall provide evidence of such payment to Lender within five (5) days of payment. New Indemnitor agrees to pay the Property Insurance Deductible before any proceeds from insurance shall be disbursed to New Borrower and/or Aurora.