Common use of Benefit of Guaranty Clause in Contracts

Benefit of Guaranty. Each Borrower agrees that the provisions of this Section 11 are for the benefit of Lender and its successors, transferees, endorsees and assigns, and nothing herein contained shall impair, as between any other Borrower and Lender, the obligations of such other Borrower under the Loan Documents.

Appears in 6 contracts

Samples: Loan and Security Agreement (Method Products Corp /De), Loan and Security Agreement (Harmony Holdings Inc), Loan and Security Agreement (Diversified Corporate Resources Inc)

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Benefit of Guaranty. Each Borrower agrees that the provisions of this Section 11 SECTION 12 are for the benefit of Lender Agent and its Lenders and their respective successors, transferees, endorsees and assigns, and nothing herein contained shall impair, as between any other Borrower and LenderAgent or Lenders, the obligations of such other Borrower under the Loan Documents.

Appears in 5 contracts

Samples: Credit Agreement (Ddi Corp), Credit Agreement (Omni Energy Services Corp), Credit Agreement (Track N Trail Inc)

Benefit of Guaranty. Each Borrower agrees that the provisions of this Section 11 are for the benefit of Lender and its successors, transferees, endorsees and assigns, and nothing herein contained shall impair, as between any other Borrower and Lender, the obligations of any such other Borrower under the Loan Documents. In the event all or any part of the Obligations are transferred, endorsed or assigned by Lender to any person or persons, any reference to "Lender" herein shall be deemed to refer equally to such person or persons.

Appears in 2 contracts

Samples: Loan and Security Agreement (Transcat Inc), Loan and Security Agreement (Centrum Industries Inc)

Benefit of Guaranty. Each Borrower agrees that the provisions of this Section 11 12 are for the benefit of Lender Agent and its Lenders and their respective successors, transferees, endorsees and assigns, and nothing herein contained shall impair, as between any other Borrower and LenderAgent or Lenders, the obligations of such other Borrower under the Loan Credit Documents.

Appears in 2 contracts

Samples: Credit Agreement (Imagyn Medical Technologies Inc), Credit Agreement (Imagyn Medical Technologies Inc)

Benefit of Guaranty. Each Borrower agrees that the provisions ------------------- of this Section 11 14 are for the benefit of Lender Bank and its successors, transferees, endorsees and assigns, and nothing herein contained shall impair, as between any other Borrower and LenderBank, the obligations of such other Borrower under the Loan Documents.

Appears in 1 contract

Samples: Loan and Security Agreement (SQL Financials International Inc /De)

Benefit of Guaranty. Each Borrower agrees that the provisions of this Section SECTION 11 are for the benefit of Lender and its successors, transferees, endorsees and assigns, and nothing herein contained shall impair, as between any other Borrower and Lender, the obligations of such other Borrower under the Loan Documents.

Appears in 1 contract

Samples: Loan and Security Agreement (Ballantyne of Omaha Inc)

Benefit of Guaranty. Each Borrower agrees that the provisions of this Section 11 SECTION 14 are for the benefit of Lender and its successors, transferees, endorsees and assigns, and nothing herein contained shall impair, as between any other Borrower and Lender, the obligations of such other Borrower under the Loan Documents.

Appears in 1 contract

Samples: Credit and Security Agreement (Unapix Entertainment Inc)

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Benefit of Guaranty. Each Borrower agrees that the provisions of this Section 11 SECTION 12 are for the benefit of Lender Agent and its Lenders and their respective successors, transferees, endorsees and assigns, and nothing herein contained shall impair, as between any other Borrower Borrowers and LenderAgent or Lenders, the obligations of such other Borrower Borrowers under the Loan Documents.

Appears in 1 contract

Samples: Credit Agreement (Layne Christensen Co)

Benefit of Guaranty. Each Borrower agrees that the provisions of this Section 11 SECTION 12 are for the benefit of Lender Agents and its Lenders and their respective successors, transferees, endorsees and assigns, and nothing herein contained shall impair, as between any other Borrower and LenderAgents or Lenders, the obligations of such other Borrower under the Loan Documents.

Appears in 1 contract

Samples: Credit Agreement (Hi Rise Recycling Systems Inc)

Benefit of Guaranty. Each Borrower agrees that the provisions of this Section 11 SECTION 10 are for the benefit of Lender Agent and its Lenders and their respective successors, transferees, endorsees and assigns, and nothing herein contained shall impair, as between any other Borrower and LenderAgent or Lenders, the obligations of such other Borrower under the Loan Documents.

Appears in 1 contract

Samples: Credit Agreement (Aas Capital Corp)

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