Common use of CCIC's Guaranty Clause in Contracts

CCIC's Guaranty. (a) CCIC hereby unconditionally guarantees --------------- to BMI the full and timely performance and observance of all of the terms, provisions, covenants and obligations of Vendor under this Agreement (the "Obligations"). CCIC agrees that if Vendor defaults at any time during the term of this Agreement in the performance of any of the Obligations, CCIC shall faithfully perform and fulfill all Obligations and shall pay to BMI all attorneys' fees, court costs, and other expenses, costs and disbursements incurred by BMI on account of any default by Vendor and on account of the enforcement of this guaranty. (b) If Vendor defaults under this Agreement, and BMI elects to enforce the provisions of this Section 7.01, BMI shall promptly give CCIC written notice thereof, which notice shall constitute an exercise of BMI's rights against CCIC pursuant to this Section 7.01. Following the receipt of such notice by CCIC, CCIC shall have the same period of time as is afforded to Vendor under this Agreement to cure such default, but no such cure period shall diminish the obligations of CCIC under this Section 7.01. (c) This guaranty obligation of CCIC shall be enforceable by BMI in an action against CCIC without the necessity of any suit, action, or proceedings by BMI of any kind or nature whatsoever against Vendor, without the necessity of any notice to CCIC of Vendor's default or breach under this Agreement, and without the necessity of any other notice or demand to CCIC to which CCIC or Vendor might otherwise be entitled, all of which notices CCIC hereby expressly waives. CCIC hereby agrees that the validity of this guaranty and the obligations of CCIC hereunder shall not be terminated, affected, diminished, or impaired by reason of the assertion or the failure to assert by BMI against Vendor any of the rights or remedies reserved to BMI pursuant to the provisions of this Agreement or any other remedy or right which BMI may have at law or in equity or otherwise. (d) CCIC covenants and agrees that this guaranty is an absolute, unconditional, irrevocable and continuing guaranty. The liability of CCIC hereunder shall not be affected, modified, or diminished by reason of any assignment, renewal, modification or extension of this Agreement or any modification or waiver of or change in any of the covenants and terms of this Agreement by agreement of BMI and Vendor, or by any unilateral action of either BMI or Vendor, or by an extension of time that may be granted by BMI to Vendor or any indulgence of any kind granted to Vendor, or any dealings or transactions occurring between BMI and Vendor, including, without limitation, any adjustment, compromise, settlement, accord and satisfaction, or release, or any bankruptcy, insolvency, reorganization, arrangement, assignment for the benefit of creditors, receivership, or trusteeship affecting Vendor. CCIC does hereby expressly waive any suretyship defense it may have by virtue of any statute, law, or ordinance of any state or other governmental authority. (e) All of BMI's rights and remedies under this guaranty are intended to be distinct, separate, and cumulative and no such right and remedy herein is intended to be the exclusion of or a waiver of any other. (f) CCIC hereby waives presentment, demand for performance, notice of nonperformance, protest, notice of protest, notice of dishonor, and notice of acceptance. CCIC further waive any right to require that an action be brought against Vendor or any other person or to require that resort be had by BMI to any security held by BMI.

CCIC's Guaranty. (a) CCIC hereby unconditionally guarantees --------------- to BMI each BellSouth Entity the full and timely payment and performance and observance of all of the terms, provisions, covenants and obligations of Vendor TowerCo under this Agreement Sublease and each Site Designation Supplement (the "ObligationsOBLIGATIONS"). CCIC agrees that if Vendor TowerCo defaults at any time during the term Term of this Agreement Sublease and any Site Designation Supplement in the performance of any of the Obligations, CCIC shall faithfully perform and fulfill all Obligations and shall pay to BMI each BellSouth Entity all attorneys' fees, court costs, and other expenses, costs and disbursements incurred by BMI such BellSouth Entity on account of any default by Vendor TowerCo and on account of the enforcement of this guaranty. (b) If Vendor TowerCo defaults under this AgreementSublease or any Site Designation Supplement, and BMI any BellSouth Entity elects to enforce the provisions of this Section 7.01SECTION 37, BMI such BellSouth Entity shall promptly give CCIC written notice thereof, which notice shall constitute an exercise of BMIsuch BellSouth Entity's rights against CCIC pursuant to this Section 7.01SECTION 37. Following the receipt of such notice by CCIC, CCIC shall have the same period of time as is afforded to Vendor TowerCo under this Agreement Sublease or the applicable Site Designation Supplement to cure such default, but no such cure period shall diminish the obligations of CCIC under this Section 7.01SECTION 37. (c) This guaranty obligation of CCIC shall be enforceable by BMI any BellSouth Entity in an action against CCIC without the necessity of any suit, action, or proceedings by BMI such BellSouth Entity of any kind or nature whatsoever against VendorTowerCo, without the necessity of any notice to CCIC of VendorTowerCo's default or breach under this AgreementSublease or the applicable Site Designation Supplement, and without the necessity of any other notice or demand to CCIC to which CCIC or Vendor might otherwise be entitled, all of which notices CCIC hereby expressly waives. CCIC hereby agrees that the validity of this guaranty and the obligations of CCIC hereunder shall not be terminated, affected, diminished, or impaired by reason of the assertion or the failure to assert by BMI such BellSouth Entity against Vendor TowerCo any of the rights or remedies reserved to BMI such BellSouth Entity pursuant to the provisions of this Agreement Sublease or the applicable Site Designation Supplement or any other remedy or right which BMI such BellSouth Entity may have at law or in equity or otherwise. (d) CCIC covenants and agrees that this guaranty is an absolute, unconditional, irrevocable and continuing guaranty. The liability of CCIC hereunder shall not be affected, modified, or diminished by reason of any assignment, renewal, modification or extension of this Agreement Sublease and any Site Designation Supplement or any modification or waiver of or change in any of the covenants and terms of this Agreement Sublease or any Site Designation Supplement by agreement of BMI any BellSouth Entity and VendorTowerCo, or by any unilateral action of either BMI such BellSouth Entity or VendorTowerCo, or by an extension of time that may be granted by BMI such BellSouth Entity to Vendor TowerCo or any indulgence of any kind granted to VendorTowerCo, or any dealings or transactions occurring between BMI such BellSouth Entity and VendorTowerCo, including, without limitation, any adjustment, compromise, settlement, accord and satisfaction, or release, or any bankruptcy, insolvency, reorganization, arrangement, assignment for the benefit of creditors, receivership, or trusteeship affecting VendorTowerCo. CCIC does hereby expressly waive any suretyship defense it may have by virtue of any statute, law, or ordinance of any state or other governmental authority. (e) All of BMIeach BellSouth Entity's rights and remedies under this guaranty are intended to be distinct, separate, and cumulative and no such right and remedy herein is intended to be the exclusion of or a waiver of any other. (f) CCIC hereby waives presentment, demand for performance, notice of nonperformance, protest, notice of protest, notice of dishonor, and notice of acceptance. CCIC further waive waives any right to require that an action be brought against Vendor TowerCo or any other person or to require that resort be had by BMI a BellSouth Entity to any security held by BMIsuch BellSouth Entity.

CCIC's Guaranty. (a) CCIC hereby unconditionally guarantees to BMI, BST and --------------- to BMI the other Transferring Entities the full and timely performance and observance of all of the terms, provisions, covenants and obligations of Vendor TowerCo under this Agreement and other Transaction Documents and any Affiliate of TowerCo under any Transaction Documents (the "Obligations"). CCIC agrees that if Vendor TowerCo or TowerCo's Affiliate defaults at any time during the term of this Agreement in the performance of any of the Obligations, CCIC shall faithfully perform and fulfill all Obligations and shall pay to BMI all reasonable attorneys' fees, court costs, and other expenses, costs and disbursements incurred by BMI on account of any default by Vendor TowerCo or TowerCo's Affiliate and on account of the enforcement of this guaranty. (b) If Vendor TowerCo or TowerCo's Affiliate defaults under this AgreementAgreement or any Transaction Documents, and BMI elects (on its own behalf and on behalf of the other Transferring Entities) to enforce the provisions of this Section 7.015.15, BMI shall promptly give CCIC reasonably detailed written notice thereof, which notice shall constitute an exercise of BMI's rights against CCIC pursuant to this Section 7.015.15. Following the receipt of such notice by CCIC, CCIC shall have the same period of time as is afforded to Vendor TowerCo or TowerCo's Affiliate under this Agreement or any Transaction Documents to cure such default, but no such cure period shall diminish the obligations of CCIC under this Section 7.015.15. (c) This guaranty obligation of CCIC shall be enforceable by BMI in an action Action against CCIC without the necessity of any suit, action, or proceedings Action by BMI of any kind or nature whatsoever against VendorTowerCo or its Affiliate, without the necessity of any notice to CCIC of VendorTowerCo's or its Affiliate's default or breach under this AgreementAgreement or any Transaction Documents, and without the necessity of any other notice or demand to CCIC to which CCIC or Vendor might otherwise be entitled, all of which notices CCIC hereby expressly waiveswaive. CCIC hereby agrees that the validity of this guaranty and the obligations of CCIC hereunder shall not be terminated, affected, diminished, or impaired by reason of the assertion or the failure to assert by BMI against Vendor TowerCo or its Affiliate any of the rights or remedies reserved to BMI pursuant to the provisions of this Agreement or any Transaction Documents or any other remedy or right which BMI may have at law or in equity or otherwise. (d) CCIC covenants and agrees that this guaranty is an absolute, unconditional, irrevocable and continuing guaranty. The liability of CCIC hereunder shall not be affected, modified, or diminished by reason of any assignment, renewal, modification or extension termination of this Agreement and any other Transaction Documents or any modification or waiver of or change in any of the covenants and terms of this Agreement or any Transaction Documents by agreement of BMI and VendorTowerCo or its Affiliate, or by any unilateral action of either BMI or VendorTowerCo or its Affiliate, or by an extension of time that may be granted by BMI to Vendor TowerCo or its Affiliate or any indulgence of any kind granted to VendorTowerCo or its Affiliate, or any dealings or transactions occurring between BMI and VendorTowerCo or its Affiliate, including, without limitation, any adjustment, compromise, settlement, accord and satisfaction, or release, or any bankruptcy, insolvency, reorganization, arrangement, assignment for the benefit of creditors, receivership, or trusteeship affecting VendorTowerCo or its Affiliate. CCIC does hereby expressly waive any suretyship defense it may have by virtue of any statute, law, or ordinance Law of any state or other governmental authorityGovernment. (e) All of BMI's 's' rights and remedies under this guaranty are intended to be distinct, separate, and cumulative and no such right and remedy herein is intended to be the exclusion of or a waiver of any other. (f) CCIC hereby waives presentment, demand for performance, notice of nonperformance, protest, notice of protest, notice of dishonor, and notice of acceptance. CCIC further waive waives any right to require that an action be brought against Vendor TowerCo or its Affiliate or any other person or to require that resort be had by BMI to any security held by BMI. The provisions of this Section 5.15 shall survive any termination of this Agreement.

CCIC's Guaranty. (a) CCIC hereby unconditionally guarantees --------------- to BMI the full and timely payment and performance and observance of all of the terms, provisions, covenants and obligations of Vendor TowerCo under this Agreement Sublease and each Site Designation Supplement (the "Obligations"). CCIC agrees that if Vendor TowerCo defaults at any time during the term Term of this Agreement Sublease and any Site Designation Supplement in the performance of any of the Obligations, CCIC shall faithfully perform and fulfill all Obligations and shall pay to BMI all attorneys' fees, court costs, and other expenses, costs and disbursements incurred by BMI on account of any default by Vendor TowerCo and on account of the enforcement of this guaranty. (b) If Vendor TowerCo defaults under this AgreementSublease or any Site Designation Supplement, and BMI elects to enforce the provisions of this Section 7.0137, BMI shall promptly give CCIC written notice thereof, which notice shall constitute an exercise of BMI's rights against CCIC pursuant to this Section 7.0137. Following the receipt of such notice by CCIC, CCIC shall have the same period of time as is afforded to Vendor TowerCo under this Agreement Sublease or the applicable Site Designation Supplement to cure such default, but no such cure period shall diminish the obligations of CCIC under this Section 7.0137. (c) This guaranty obligation of CCIC shall be enforceable by BMI in an action against CCIC without the necessity of any suit, action, or proceedings by BMI of any kind or nature whatsoever against VendorTowerCo, without the necessity of any notice to CCIC of VendorTowerCo's default or breach under this AgreementSublease or the applicable Site Designation Supplement, and without the necessity of any other notice or demand to CCIC to which CCIC or Vendor might otherwise be entitled, all of which notices CCIC hereby expressly waives. CCIC hereby agrees that the validity of this guaranty and the obligations of CCIC hereunder shall not be terminated, affected, diminished, or impaired by reason of the assertion or the failure to assert by BMI against Vendor TowerCo any of the rights or remedies reserved to BMI pursuant to the provisions of this Agreement Sublease or the applicable Site Designation Supplement or any other remedy or right which BMI may have at law or in equity or otherwise. (d) CCIC covenants and agrees that this guaranty is an absolute, unconditional, irrevocable and continuing guaranty. The liability of CCIC hereunder shall not be affected, modified, or diminished by reason of any assignment, renewal, modification or extension of this Agreement Sublease and any Site Designation Supplement or any modification or waiver of or change in any of the covenants and terms of this Agreement Sublease or any Site Designation Supplement by agreement of BMI and VendorTowerCo, or by any unilateral action of either BMI or VendorTowerCo, or by an extension of time that may be granted by BMI to Vendor TowerCo or any indulgence of any kind granted to VendorTowerCo, or any dealings or transactions occurring between BMI and VendorTowerCo, including, without limitation, any adjustment, compromise, settlement, accord and satisfaction, or release, or any bankruptcy, insolvency, reorganization, arrangement, assignment for the benefit of creditors, receivership, or trusteeship affecting VendorTowerCo. CCIC does hereby expressly waive any suretyship defense it may have by virtue of any statute, law, or ordinance of any state or other governmental authority. (e) All of BMI's 's' rights and remedies under this guaranty are intended to be distinct, separate, and cumulative and no such right and remedy herein is intended to be the exclusion of or a waiver of any other. (f) CCIC hereby waives presentment, demand for performance, notice of nonperformance, protest, notice of protest, notice of dishonor, and notice of acceptance. CCIC further waive waives any right to require that an action be brought against Vendor TowerCo or any other person or to require that resort be had by BMI to any security held by BMI.

CCIC's Guaranty. (a) CCIC hereby unconditionally guarantees --------------- to BMI each Transferring Entity the full and timely performance and observance of all of the terms, provisions, covenants and obligations of Vendor TowerCo under this Agreement and other Transaction Documents and any Affiliate of TowerCo under any Transaction Documents (the "ObligationsOBLIGATIONS"). CCIC agrees that if Vendor TowerCo or TowerCo's Affiliate defaults at any time during the term of this Agreement in the performance of any of the Obligations, CCIC shall faithfully perform and fulfill all Obligations and shall pay to BMI the applicable Transferring Entity all reasonable attorneys' fees, court costs, and other expenses, costs and disbursements incurred by BMI it on account of any default by Vendor TowerCo or TowerCo's Affiliate and on account of the enforcement of this guaranty. (b) If Vendor TowerCo or TowerCo's Affiliate defaults under this AgreementAgreement or any Transaction Documents, and BMI BSPCI elects (on its own behalf and on behalf of the Carolinas Partnership) to enforce the provisions of this Section 7.01SECTION 5.12, BMI BSPCI shall promptly give CCIC reasonably detailed written notice thereof, which notice shall constitute an exercise of BMIBSPCI's rights against CCIC pursuant to this Section 7.01SECTION 5.12. Following the receipt of such notice by CCIC, CCIC shall have the same period of time as is afforded to Vendor TowerCo or TowerCo's Affiliate under this Agreement or any Transaction Documents to cure such default, but no such cure period shall diminish the obligations of CCIC under this Section 7.01SECTION 5.12. (c) This guaranty obligation of CCIC shall be enforceable by BMI BSPCI in an action Action against CCIC without the necessity of any suit, action, or proceedings Action by BMI BSPCI of any kind or nature whatsoever against VendorTowerCo or its Affiliate, without the necessity of any notice to CCIC of VendorTowerCo's or its Affiliate's default or breach under this AgreementAgreement or any Transaction Documents, and without the necessity of any other notice or demand to CCIC to which CCIC or Vendor might otherwise be entitled, all of which notices CCIC hereby expressly waiveswaive. CCIC hereby agrees that the validity of this guaranty and the obligations of CCIC hereunder shall not be terminated, affected, diminished, or impaired by reason of the assertion or the failure to assert by BMI BSPCI against Vendor TowerCo or its Affiliate any of the rights or remedies reserved to BMI BSPCI pursuant to the provisions of this Agreement or any Transaction Documents or any other remedy or right which BMI BSPCI may have at law or in equity or otherwise. (d) CCIC covenants and agrees that this guaranty is an absolute, unconditional, irrevocable and continuing guaranty. The liability of CCIC hereunder shall not be affected, modified, or diminished by reason of any assignment, renewal, modification or extension termination of this Agreement and any other Transaction Documents or any modification or waiver of or change in any of the covenants and terms of this Agreement or any Transaction Documents by agreement of BMI BSPCI and VendorTowerCo or its Affiliate, or by any unilateral action of either BMI BSPCI or VendorTowerCo or its Affiliate, or by an extension of time that may be granted by BMI BSPCI to Vendor TowerCo or its Affiliate or any indulgence of any kind granted to VendorTowerCo or its Affiliate, or any dealings or transactions occurring between BMI BSPCI and VendorTowerCo or its Affiliate, including, without limitation, any adjustment, compromise, settlement, accord and satisfaction, or release, or any bankruptcy, insolvency, reorganization, arrangement, assignment for the benefit of creditors, receivership, or trusteeship affecting VendorTowerCo or its Affiliate. CCIC does hereby expressly waive any suretyship defense it may have by virtue of any statute, law, or ordinance Law of any state or other governmental authorityGovernment. (e) All of BMI's BSPCI's' rights and remedies under this guaranty are intended to be distinct, separate, and cumulative and no such right and remedy herein is intended to be the exclusion of or a waiver of any other. (f) CCIC hereby waives presentment, demand for performance, notice of nonperformance, protest, notice of protest, notice of dishonor, and notice of acceptance. CCIC further waive waives any right to require that an action be brought against Vendor TowerCo or its Affiliate or any other person or to require that resort be had by BMI BSPCI to any security held by BMIBSPCI. The provisions of this SECTION 5.12 shall survive any termination of this Agreement.