Common use of Amount of Guaranty and Consideration Clause in Contracts

Amount of Guaranty and Consideration. The Lender’s books and records showing the amount of the Guaranteed Obligation shall be admissible in evidence in any action or proceeding, and shall be binding upon the Guarantors and conclusive for the purpose of establishing the amount of the Guaranteed Obligation. In consummating the transactions contemplated by the Credit Agreement, Guarantors do not intend to disturb, delay, hinder, or defraud either its present or future creditors. Guarantors are familiar with, and have independently reviewed books and records regarding, the financial condition of Borrowers and are familiar with the value of the security and support for the payment and performance of the Guaranteed Obligation. Based upon such examination, and taking into account the fairly discounted value of Guarantors’ contingent obligations under this Guaranty and the value of the subrogation and contribution claims Guarantors could make in connection with this Guaranty, and assuming each of the transactions contemplated by the Credit Agreement is consummated and Borrowers make full use of the credit facilities thereunder, the present realizable fair market value of the assets of each Guarantor exceeds the total obligations of each such Guarantor, and each Guarantor is able to realize upon its assets and pay its obligations as such obligations mature in the normal course of business. Each Guarantor represents and warrants to Lender that the value of consideration received and to be received by it is reasonably worth at least as much as its liability under this Guaranty, and such liability may reasonably be expected to benefit each Guarantor, directly or indirectly.

Appears in 1 contract

Samples: Guaranty (United Heritage Corp)

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Amount of Guaranty and Consideration. The Lender’s books and records showing the amount of the Guaranteed Obligation shall be admissible in evidence in any action or proceeding, and shall be binding upon the Guarantors and conclusive for the purpose of establishing the amount of the Guaranteed Obligation. In consummating the transactions contemplated by the Credit Agreement, Guarantors do not intend to disturb, delay, hinder, or defraud either its any of their present or future creditors. Guarantors are Each Guarantor is familiar with, and have has independently reviewed books and records regarding, the financial condition of Borrowers Borrower and are is familiar with the value of the security and support for the payment and performance of the Guaranteed Obligation. Based upon such examination, and taking into account the fairly discounted value of Guarantors’ each Guarantor’s contingent obligations under this Guaranty and the value of the subrogation and contribution claims Guarantors any Guarantor could make in connection with this Guaranty, and assuming each of the transactions contemplated by the Credit Agreement is consummated and Borrowers make Borrower makes full use of the credit facilities thereunder, the present realizable fair market value of the assets of each Guarantor exceeds the total obligations of each such Guarantor, and each Guarantor is able to realize upon its assets and pay its obligations as such obligations mature in the normal course of business. Each Guarantor represents and warrants to Lender that the value of consideration received and to be received by it is reasonably worth at least as much as its liability under this Guaranty, and such liability may reasonably be expected to benefit each Guarantor, directly or indirectly.

Appears in 1 contract

Samples: Corporate Guaranty (Vertex Energy Inc.)

Amount of Guaranty and Consideration. The Lender’s books and records showing the amount of the Guaranteed Obligation shall be admissible in evidence in any action or proceeding, and shall be binding upon the Guarantors and conclusive (absent manifest error) for the purpose of establishing the amount of the Guaranteed Obligation. In consummating the transactions contemplated by the Credit Agreement, Guarantors do not intend to disturb, delay, hinder, or defraud either its any of their present or future creditors. Guarantors are Each Guarantor is familiar with, and have has independently reviewed books and records regarding, the financial condition of Borrowers Borrower and are is familiar with the value of the security and support for the payment and performance of the Guaranteed Obligation. Based upon such examination, and taking into account the fairly discounted value of Guarantors’ each Guarantor’s contingent obligations under this Guaranty and the value of the subrogation and contribution claims Guarantors any Guarantor could make in connection with this Guaranty, and assuming each of the transactions contemplated by the Credit Agreement is consummated and Borrowers make Borrower makes full use of the credit facilities thereunder, the present realizable fair market value of the assets of each Guarantor Guarantors exceeds the total obligations of each such GuarantorGuarantors, and each Guarantor is able to realize upon its assets and pay its obligations as such obligations mature in the normal course of business. Each Guarantor represents and warrants to Lender that the value of consideration received and to be received by it is reasonably worth at least as much as its liability under this Guaranty, and such liability may reasonably be expected to benefit each such Guarantor, directly or indirectly.

Appears in 1 contract

Samples: Deep Down, Inc.

Amount of Guaranty and Consideration. The LenderAdministrative Agent’s and the Banks’ books and records showing the amount of the Guaranteed Obligation Obligations shall be admissible in evidence in any action or proceeding, and shall be binding upon the Guarantors Guarantor and conclusive for the purpose of establishing the amount of the Guaranteed Obligationsuch amounts, absent manifest error. In consummating the transactions contemplated by the Credit Agreementthis Guaranty, Guarantors do Guarantor does not intend to disturb, delay, hinder, or defraud either its present or future creditors. Guarantors are Guarantor is familiar with, and have has independently reviewed books and records regarding, the financial condition of Borrowers each Borrower and are is familiar with the value of the security and support for the payment and performance of the Guaranteed ObligationObligations. Based upon such examination, and taking into account the fairly discounted value of Guarantors’ Guarantor’s contingent obligations under this Guaranty and the value of the subrogation and contribution claims Guarantors Guarantor could make in connection with this Guaranty, and assuming each of the transactions contemplated by the Credit Agreement is consummated and Borrowers make full use of the credit facilities thereunder, the present realizable fair market value of the assets of each Guarantor exceeds the total obligations of each such Guarantor, and each Guarantor is able to realize upon its assets and pay its obligations as such obligations mature in the normal course of business. Each Guarantor represents and warrants to Lender Administrative Agent that the value of consideration received and to be received by it Guarantor is reasonably worth at least as much as its liability under this Guaranty, and such liability may reasonably be expected to benefit each Guarantor, directly or indirectly.

Appears in 1 contract

Samples: Credit Agreement (EnerJex Resources, Inc.)

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Amount of Guaranty and Consideration. The Lender’s books and records showing the amount of the Guaranteed Obligation shall be admissible in evidence in any action or proceeding, and shall be binding upon the Guarantors and conclusive for the purpose of establishing the amount of the Guaranteed Obligation. In consummating the transactions contemplated by the Credit Agreement, Guarantors do not intend to disturb, delay, hinder, or defraud either its any of their present or future creditors. Guarantors are Each Guarantor is familiar with, and have has independently reviewed books and records regarding, the financial condition of Borrowers each Borrower and are is familiar with the value of the security and support for the payment and performance of the Guaranteed Obligation. Based upon such examination, and taking into account the fairly discounted value of Guarantors’ each Guarantor’s contingent obligations under this Guaranty and the value of the subrogation and contribution claims Guarantors any Guarantor could make in connection with this Guaranty, and assuming each of the transactions contemplated by the Credit Agreement is consummated and Borrowers make full use of the credit facilities thereunder, the present realizable fair market value of the assets of each Guarantor exceeds the total obligations of each such Guarantor, and each Guarantor is able to realize upon its assets and pay its obligations as such obligations mature in the normal course of business. Each Guarantor represents and warrants to Lender that the value of consideration received and to be received by it is reasonably worth at least as much as its liability under this Guaranty, and such liability may reasonably be expected to benefit each Guarantor, directly or indirectly.

Appears in 1 contract

Samples: Vertex Energy Inc.

Amount of Guaranty and Consideration. The LenderAdministrative Agent’s and the Banks’ books and records showing the amount of the Guaranteed Obligation shall be admissible in evidence in any action or proceeding, and shall be binding upon the Guarantors Guarantor and conclusive for the purpose of establishing the amount of the Guaranteed Obligationsuch amounts, absent manifest error. In consummating the transactions contemplated by the Credit Agreementthis Guaranty, Guarantors do Guarantor does not intend to disturb, delay, hinder, or defraud either its present or future creditors. Guarantors are Guarantor is familiar with, and have has independently reviewed books and records regarding, the financial condition of Borrowers each Borrower and are is familiar with the value of the security and support for the payment and performance of the Guaranteed Obligationamounts due under this Guaranty. Based upon such examination, and taking into account the fairly discounted value of Guarantors’ Guarantor’s contingent obligations under this Guaranty and the value of the subrogation and contribution claims Guarantors Guarantor could make in connection with this Guaranty, and assuming each of the transactions contemplated by the Credit Agreement is consummated and Borrowers make full use of the credit facilities thereunder, the present realizable fair market value of the assets of each Guarantor exceeds the total obligations of each such Guarantor, and each Guarantor is able to realize upon its assets and pay its obligations as such obligations mature in the normal course of business. Each Guarantor represents and warrants to Lender Administrative Agent that the value of consideration received and to be received by it is reasonably worth at least as much as its liability under this Guaranty, and such liability may reasonably be expected to benefit each Guarantor, directly or indirectly.

Appears in 1 contract

Samples: Credit Agreement (EnerJex Resources, Inc.)

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