Common use of Change in Guarantor’s Status Clause in Contracts

Change in Guarantor’s Status. Should Guarantor become insolvent, or fail to pay its debts generally as they become due, or voluntarily seek, consent to, or acquiesce in the benefit or benefits of any Debtor Relief Law or become a party to (or be made the subject of) any proceeding provided for by any Debtor Relief Law (other than as a creditor or claimant) that could suspend or otherwise adversely affect the Rights of Agent or Lenders granted hereunder, then, in any such event, the Guaranteed Debt shall be, as between Guarantor, Agent and Lender, a fully matured, due, and payable obligation of Guarantor to Agent or Lender (without regard to whether Borrower is then in Default or whether the Guaranteed Debt, or any part thereof is then due and owing by Borrower to Lender), payable in full by Guarantor to Agent or Lender upon demand, which shall be the estimated amount owing in respect of the contingent claim created hereunder.

Change in Guarantor’s Status. Should Guarantor become insolvent, or fail to pay its such Guarantor’s debts generally as they become due, or voluntarily seek, consent to, or acquiesce in the benefit or benefits of any Debtor Relief Law Laws or become a party to (or be made the subject of) any proceeding provided for by any Debtor Relief Law Laws (other than as a creditor or claimant) that could suspend or otherwise adversely affect the Rights of Agent or Lenders Lender granted hereunder, then, in any such event, the Guaranteed Debt Obligations shall be, as between Guarantor, Agent Guarantor and Lender, a fully matured, due, payable and payable performable obligation of Guarantor to Agent or Lender (without regard to whether Borrower is then in Default under the Loan Agreement or whether the Guaranteed DebtObligations, or any part thereof is then due and owing or unperformed by Borrower to Lender), payable and/or performable in full by Guarantor to Agent or Lender upon demand, which shall be the estimated amount owing in respect of the contingent claim created hereunder.

Change in Guarantor’s Status. Should Guarantor become insolvent, or fail to pay its debts generally as they become due, or voluntarily seek, consent to, or acquiesce in the benefit or benefits of any Debtor Relief Law or become a party to (or be made the subject of) any proceeding provided for by any Debtor Relief Law (other than as a creditor or claimant) that could suspend or otherwise adversely affect the Rights rights of Agent or Lenders Lender granted hereunderunder this Guaranty, then, in any such event, the Guaranteed Debt Obligation shall be, as between Guarantor, Agent Guarantor and Lender, a fully matured, due, and payable obligation of Guarantor to Agent or Lender (without regard to whether Borrower is then in Default or whether the Guaranteed DebtObligation, or any part thereof is then due and owing by Borrower to Lender), payable in full by Guarantor to Agent or Lender upon demand, which shall be the estimated amount owing in respect of the contingent claim created hereunderunder this Guaranty.