Common use of Borrower and Guarantor Clause in Contracts

Borrower and Guarantor. (a) You cannot assign or transfer any of your rights or obligations under this Agreement without our prior written consent. (b) The Guarantor cannot assign or transfer any of his or her (or its) rights or obligations under this Agreement without our prior written consent. 12.1 If there are multiple Borrowers or Guarantors: (a) If there is more than one Borrower, each Borrower has joint and several liability. (That means we can sue all Borrowers together, or any Borrower by itself, for the full amount owed to us.) (b) If there is more than one Guarantor, each Guarantor has joint and several liability. (That means we can sue all Guarantors together, or any Guarantor by itself, for the full amount owed to us.) (c) Any security under this Agreement is given in the relevant Goods regardless of whether those Goods are held by you individually or jointly with any other person. (That means that we can take and sell the Goods under this Agreement, even where you are not the only owner of the Goods).

Borrower and Guarantor. (a) You cannot assign or transfer any of your rights or obligations under this Agreement without our prior written consent. (b) The Guarantor cannot assign or transfer any of his or her (or its) rights or obligations under this Agreement without our prior written consent. 12.1 If there are multiple Borrowers or Guarantors: (a) If there is more than one Borrower, each Borrower has joint and several liability. (That means we can sue xxx all Borrowers together, or any Borrower by itself, for the full amount owed to us.) (b) If there is more than one Guarantor, each Guarantor has joint and several liability. (That means we can sue xxx all Guarantors together, or any Guarantor by itself, for the full amount owed to us.) (c) Any security under this Agreement is given in the relevant Goods regardless of whether those Goods are held by you individually or jointly with any other person. (That means that we can take and sell the Goods under this Agreement, even where you are not the only owner of the Goods).

Borrower and Guarantor. (a) You cannot assign or transfer any of your rights or obligations under this Agreement without our prior written consent. (b) The Guarantor cannot assign or transfer any of his or her (or its) rights or obligations under this Agreement without our prior written consent. 12.1 If there are multiple Borrowers or Guarantors: (a) If there is more than one Borrower, each Borrower has joint and several liability. (That means we can sue all Borrowers together, or any Borrower by itself, for the full amount owed to us.) (b) If there is more than one Guarantor, each Guarantor has joint and several liability. (That means we can sue all Guarantors together, or any Guarantor by itself, for the full amount owed to us.) (c) Any security under this Agreement is given in the relevant Goods regardless of whether those Goods are held by you individually or jointly with any other person. (That means that we can take and sell the Goods under this Agreement, even where you are not the only owner of the Goods).