Bank Protections. 4.1 The liability of each Guarantor under this Deed shall not be reduced, discharged or otherwise adversely affected by: (a) any intermediate payment, settlement of account or discharge in whole or in part of the Guaranteed Obligations; (b) any variation, extension, discharge, compromise, dealing with, exchange or renewal of any right or remedy which we may now or after the date of this Deed have from or against any Principal and any other person in connection with the Guaranteed Obligations; (c) any act or omission by us or any other person in taking up, perfecting or enforcing any Security, indemnity, or guarantee from or against a Guarantor, a Principal or any other person; (d) any termination, amendment, variation, novation, replacement or supplement of or to any of the Guaranteed Obligations including without limitation any change in the purpose of, any increase in or extension of the Guaranteed Obligations and any addition of new Guaranteed Obligations; (e) any grant of time, indulgence, waiver or concession to a Guarantor, a Principal or any other person; (f) any insolvency, bankruptcy, liquidation, administration, winding up, incapacity, limitation, the discharge by operation of law, or any change in the constitution, name or style of a Guarantor, a Principal or any other person; (g) any invalidity, illegality, unenforceability, irregularity or frustration of any actual or purported obligation of, or Security held from, a Guarantor, a Principal or any other person in connection with the Guaranteed Obligations; (h) any claim or enforcement of payment from a Guarantor, a Principal or any other person; or (i) any act or omission which would not have discharged or affected the liability of any Guarantor had it been a principal debtor instead of a guarantor; or (j) any other act or omission except an express written release by deed of each relevant Guarantor by us. 4.2 We shall not be obliged before taking steps to enforce any of our rights and remedies under this Deed: (a) to take any action or obtain judgment in any court against a Guarantor, a Principal or any other person; (b) to make or file any claim in a bankruptcy, liquidation, administration or insolvency of a Guarantor, a Principal or any other person; or (c) to make demand, enforce or seek to enforce any claim, right or remedy against a Guarantor, a Principal or any other person. 4.3 Each Guarantor warrants to us that it has not taken or received, and shall not take, exercise or receive the benefit of any Rights from or against a Guarantor or a Principal, its liquidator, an administrator, co-guarantor or any other person in connection with any liability of, or payment by, a Guarantor under this Deed but: (a) if any of the Rights is taken, exercised or received by a Guarantor, those Rights and all monies at any time received or held in respect of those Rights shall be held by that Guarantor on trust for us for application in or towards the discharge of the Guaranteed Obligations under this Deed; and (b) on demand by us, each Guarantor shall promptly transfer, assign or pay to the Lender all other Rights and all monies from time to time held on trust by that Guarantor under this Clause 4.3. 4.4 This Deed is in addition to and shall not affect nor be affected by or merge with any other judgment, Security, Right or remedy obtained or held by us from time to time for the discharge and performance of a Principal of the Guaranteed Obligations.
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