Common use of Continuing Guaranty of Payment Clause in Contracts

Continuing Guaranty of Payment. This Guaranty is and shall be an absolute, unconditional, irrevocable and continuing guaranty of payment, and not merely of collection, and from time to time or at any time the Guaranteed Obligations may be increased, reduced or paid in full without affecting the liability or obligation of Guarantor with respect to indebtedness, liabilities and obligations of Borrower to Administrative Agent or any Lender thereafter incurred. Guarantor further agrees that this Guaranty shall continue to be effective or be reinstated (if a release or discharge has occurred), as the case may be, if at any time any payment (or any part thereof) to Administrative Agent or any Lender in respect of the Guaranteed Obligations is rescinded or must otherwise be restored by Administrative Agent or any Lender pursuant to any bankruptcy, insolvency, reorganization, receivership or other debtor relief granted to Borrower or its successors or assigns. In the event that Administrative Agent or any Lender must rescind or restore any payment received by Administrative Agent or any Lender, respectively, in satisfaction of the Guaranteed Obligations, as set forth herein, any prior release or discharge from the terms of this Guaranty given to Guarantor by Administrative Agent or such Lender, respectively, shall be without effect, and this Guaranty shall remain in full force and effect. It is the intention of Administrative Agent, Lenders and Guarantor that Guarantor's liabilities and obligations hereunder shall not be discharged except by the full and complete payment and performance of the Guaranteed Obligations and then only to the extent of such payment and performance. This Guaranty is independent of, and in addition and without modification to and does not impair or in any way affect any other guaranty, endorsement or other agreement executed in favor of Administrative Agent or any Lender, and this Guaranty and Guarantor's liabilities and obligations under this Guaranty shall not be impaired or otherwise affected by the execution, delivery or performance by Guarantor or any other Person of any other guaranty, endorsement or other agreement.

Continuing Guaranty of Payment. This Guaranty is and shall be an absolute, unconditional, irrevocable and continuing guaranty of payment, and not merely of collection, and from time to time or at any time the Guaranteed Obligations may be increased, reduced or paid in full without affecting the liability or obligation of Guarantor with respect to indebtedness, liabilities and obligations of Borrower Savvis to Administrative Agent GE Capital or any Lender Lessor thereafter incurred. Guarantor further agrees that this Guaranty shall continue to be effective or be reinstated (if a release or discharge has occurred), as the case may be, if at any time any payment (or any part thereof) to Administrative Agent GE Capital or any Lender Lessor in respect of the Guaranteed Obligations is rescinded or must otherwise be restored by Administrative Agent GE Capital or any Lender Lessor pursuant to any bankruptcy, insolvency, reorganization, receivership or other debtor relief granted to Borrower Savvis or its successors or assigns. In the event that Administrative Agent GE Capital or any Lender Lessor must rescind or restore any payment received by Administrative Agent GE Capital or any LenderLessor, respectively, in satisfaction of the Guaranteed Obligations, as set forth herein, any prior release or discharge from the terms of this Guaranty given to Guarantor by Administrative Agent GE Capital or such LenderLessor, respectively, shall be without effect, and this Guaranty shall remain in full force and effecteffect and/or shall be reinstated to be in full force and effect (as applicable). It is the intention of Administrative AgentGE Capital, Lenders Lessors and Guarantor that Guarantor's liabilities and obligations hereunder shall not be discharged except by the full and complete payment and performance of the Guaranteed Obligations and then only to the extent of such payment and performance. This Guaranty is independent of, and in addition and without modification to and does not impair or in any way affect any other guaranty, endorsement or other agreement executed in favor of Administrative Agent GE Capital or any LenderLessor, and this Guaranty and Guarantor's liabilities and obligations under this Guaranty shall not be impaired or otherwise affected by the execution, delivery or performance by Guarantor or any other Person of any other guaranty, endorsement or other agreement.

Continuing Guaranty of Payment. This Guaranty is and shall be an absolute, unconditional, irrevocable and continuing guaranty of payment, and not merely of collection, and from time to time or at any time the Guaranteed Obligations may be increased, reduced or paid in full without affecting the liability or obligation of Guarantor with respect to indebtedness, liabilities and obligations of Borrower to Administrative Agent or any Lender thereafter incurred. Guarantor further agrees that this Guaranty shall continue to be effective or be reinstated (if a release or discharge has occurred), as the case may be, if at any time any payment (or any part thereof) to Administrative Agent or any Lender in respect of the Guaranteed Obligations is rescinded or must otherwise be restored by Administrative Agent or any Lender pursuant to any bankruptcy, insolvency, reorganization, receivership or other debtor relief granted to Borrower or its successors or assigns. In the event that Administrative Agent or any Lender must rescind or restore any payment received by Administrative Agent or any Lender, respectively, in satisfaction of the Guaranteed Obligations, as set forth herein, any prior release or discharge from the terms of this Guaranty given to Guarantor by Administrative Agent or such Lender, respectively, shall be without effect, and this Guaranty shall remain in full force and effect. It is the intention of Administrative Agent, Lenders and Guarantor that Guarantor's liabilities and obligations hereunder shall not be discharged except by the full and complete payment and performance of the Guaranteed Obligations and then only to the extent of such payment and performance. This Guaranty is independent of, and in addition and without modification to to, and does not impair or in any way affect any other guaranty, endorsement or other agreement executed in favor of Administrative Agent or any Lender, and this Guaranty and Guarantor's liabilities and obligations under this Guaranty shall not be impaired or otherwise affected by the execution, delivery or performance by Guarantor or any other Person of any other guaranty, endorsement or other agreement.

Continuing Guaranty of Payment. This Guaranty is and shall be an absolute, unconditional, irrevocable and continuing guaranty of payment, and not merely of collection, and from time to time or at any time the Guaranteed Obligations may be increased, reduced or paid in full without affecting the liability or obligation of Guarantor with respect to indebtedness, liabilities and obligations of Borrower to Administrative Agent or any Lender thereafter incurred. Guarantor further agrees that this Guaranty shall continue to be effective or be reinstated (if a release or discharge has occurred), as the case may be, if at any time any payment (or any part thereof) to Administrative Agent or any Lender in respect of the Guaranteed Obligations is rescinded or must otherwise be restored by Administrative Agent or any Lender pursuant to any bankruptcy, insolvency, reorganization, receivership or other debtor relief granted to Borrower or its successors or assigns. In the event that Administrative Agent or any Lender must rescind or restore any payment received by Administrative Agent or any Lender, respectively, in satisfaction of the Guaranteed Obligations, as set forth herein, any prior release or discharge from the terms of this Guaranty given to Guarantor by Administrative Agent or such Lender, respectively, shall be without effect, and this Guaranty shall remain in full force and effect. It is the intention of Administrative Agent, Lenders and Guarantor that Guarantor's liabilities and obligations hereunder shall not be discharged except by the full and complete payment and performance of the Guaranteed Obligations and then only to the extent of such payment and performance. This Guaranty is independent of, and in addition and without modification to to, and does not impair or in any way affect any other guaranty, endorsement or other agreement executed in favor of Administrative Agent or any Lender, and this Guaranty and Guarantor's liabilities and obligations under this Guaranty shall not be impaired or otherwise affected by the execution, delivery or performance by Guarantor or any other Person of any other guaranty, endorsement or other agreement.

Continuing Guaranty of Payment. This Guaranty is and shall be an ------------------------------- absolute, unconditional, irrevocable and continuing guaranty of payment, and not merely of collection, and from time to time or at any time the Guaranteed Obligations may be increased, reduced or paid in full without affecting the liability or obligation of Guarantor with respect to indebtedness, liabilities and obligations of Borrower to Administrative Agent or any Lender thereafter incurred. Guarantor further agrees that this Guaranty shall continue to be effective or be reinstated (if a release or discharge has occurred), as the case may be, if at any time any payment (or any part thereof) to Administrative Agent or any Lender in respect of the Guaranteed Obligations is rescinded or must otherwise be restored by Administrative Agent or any Lender pursuant to any bankruptcy, insolvency, reorganization, receivership or other debtor relief granted to Borrower or its successors or assigns. In the event that Administrative Agent or any Lender must rescind or restore any payment received by Administrative Agent or any Lender, respectively, in satisfaction of the Guaranteed Obligations, as set forth herein, any prior release or discharge from the terms of this Guaranty given to Guarantor by Administrative Agent or such Lender, respectively, shall be without effect, and this Guaranty shall remain in full force and effect. It is the intention of Administrative Agent, Lenders and Guarantor that Guarantor's liabilities and obligations hereunder shall not be discharged except by the full and complete payment and performance of the Guaranteed Obligations and then only to the extent of such payment and performance. This Guaranty is independent of, and in addition and without modification to and does not impair or in any way affect any other guaranty, endorsement or other agreement executed in favor of Administrative Agent or any Lender, and this Guaranty and Guarantor's liabilities and obligations under this Guaranty shall not be impaired or otherwise affected by the execution, delivery or performance by Guarantor or any other Person of any other guaranty, endorsement or other agreement.

Continuing Guaranty of Payment. This Guaranty is (a) The Guarantor irrevocably, absolutely and unconditionally guarantees to each Beneficiary the payment all Certified Guaranteed Obligations owed to such Beneficiary on the Payment Date for such obligations. If any Certified Guaranteed Obligation shall not be paid on the Payment Date for such Certified Guaranteed Obligation, the Guarantor shall pay the amount thereof to the relevant Beneficiary no later than 30 days after such Beneficiary has given the Guarantor written notice(a “Default Notice”) that such Final Payment Date has occurred and that such obligations have not been paid, provided that, no Default Notice shall be an absolute, unconditional, irrevocable and required in connection with a Guarantor Default. (b) This is a guaranty of payment rather than of collection. This is also a continuing guaranty of paymentand all liabilities to which this Agreement applies, and not merely of collectionor may apply, and from time under the terms hereof shall be conclusively presumed to time have been created in reliance hereon, without further notice to, or from, the Guarantor. (c) This Agreement may be terminated or modified, as to any Beneficiary, by the Guarantor at any time the Guaranteed Obligations may be increased, reduced and such termination or paid in full without affecting the liability or obligation of Guarantor with respect to indebtedness, liabilities and obligations of Borrower to Administrative Agent or any Lender thereafter incurred. Guarantor further agrees that this Guaranty shall continue to be effective or be reinstated (if a release or discharge has occurred)modification, as the case may be, if shall be effective, as to any Beneficiary, as at any time any payment the Termination Date, provided that, no such termination or modification shall affect (or any part thereofi) to Administrative Agent or any Lender in respect the obligations of the Guarantor under this Agreement with respect to Certified Guaranteed Obligations is rescinded which arose prior to such Termination Date or must otherwise be restored by Administrative Agent or any Lender which arose after such Termination Date pursuant to any bankruptcya commitment, insolvencyletter of credit, reorganizationacceptance, receivership certification or other debtor relief granted similar undertaking by RZB Finance prior to Borrower such Termination Date or its successors or assigns. In (ii) the event that Administrative Agent or any Lender must rescind or restore any payment received by Administrative Agent or any Lender, respectively, in satisfaction obligation of the Guarantor to pay interest on the Certified Guaranteed Obligations, as set forth herein, any prior release or discharge from the terms of this Guaranty given to Guarantor by Administrative Agent or such Lender, respectively, shall be without effect, and this Guaranty shall remain in full force and effect. It is the intention of Administrative Agent, Lenders and Guarantor that Guarantor's liabilities and obligations hereunder shall not be discharged except by the full and complete payment and performance of the Guaranteed Obligations and then only to the extent of such payment and performance. This Guaranty is independent of, and provided in addition and without modification to and does not impair or in any way affect any other guaranty, endorsement or other agreement executed in favor of Administrative Agent or any Lender, the relevant Credit Document and this Guaranty and Guarantor's liabilities and obligations under Agreement or to pay the amounts otherwise provided in this Guaranty shall not be impaired or otherwise affected by Agreement with respect to the execution, delivery or performance by Guarantor or any other Person of any other guaranty, endorsement or other agreementCertified Guaranteed Obligations described in clause (i) above.

Continuing Guaranty of Payment. This Guaranty is and shall be an absolute, unconditional, irrevocable irrevocable, and continuing guaranty of payment, and not merely of collection, and from time to time or at any time the Guaranteed Obligations may be increased, reduced reduced, or paid in full without affecting the liability or obligation of any Guarantor with respect to indebtedness, liabilities and obligations of Borrower to Administrative Agent or any Lender thereafter incurredthe Guaranteed Obligations. Each Guarantor further agrees that this Guaranty shall continue to be effective or be reinstated (if a release or discharge has occurred), as the case may be, if at any time any payment (or any part thereof) to Administrative Agent or any Lender Secured Party in respect of the Guaranteed Obligations is rescinded or must otherwise be restored by Administrative Agent or any Lender Secured Party pursuant to any bankruptcy, insolvency, reorganization, receivership receivership, or other debtor relief granted to the Borrower or its successors or assigns. In the event that Administrative Agent or any Lender Secured Party must rescind or restore any payment received by Administrative Agent or any Lender, respectively, Secured Party in satisfaction of the Guaranteed Obligations, as set forth herein, any prior release or discharge from the terms of this Guaranty given to any Guarantor by Administrative Agent or such Lender, respectively, Secured Party shall be without effect, and this Guaranty shall remain in full force and effect. It is the intention of Administrative Agent, Lenders the Secured Parties and each Guarantor that such Guarantor's ’s liabilities and obligations hereunder shall not be discharged except by the full and complete payment and performance of the Guaranteed Obligations and then only to the extent of such payment and performanceSecurity Termination. This Guaranty is independent of, and in addition and without modification to to, and does not impair or in any way affect any other guaranty, endorsement or other agreement executed in favor of Administrative Agent or any LenderSecured Party, and this Guaranty and each Guarantor's ’s liabilities and obligations under this Guaranty shall not be impaired or otherwise affected by the execution, delivery or performance by such Guarantor or any other Person of or any other guaranty, endorsement endorsement, or other agreement.

Continuing Guaranty of Payment. This Guaranty is and shall be an absolute, unconditional, irrevocable and continuing guaranty of payment, and not merely of collection, and from time to time or at any time the Guaranteed Obligations may be increased, reduced or paid in full without affecting the liability or obligation of Guarantor with respect to indebtedness, liabilities and obligations of Borrower to Administrative Agent or any Lender thereafter incurred. Guarantor further agrees that this Guaranty shall continue to be effective or be reinstated (if a release or discharge has occurred), as the case may be, if at any time any payment (or any part thereof) to Administrative Agent or any Lender in respect of the Guaranteed Obligations is rescinded or must otherwise be restored by Administrative Agent or any Lender pursuant to any bankruptcy, insolvency, reorganization, receivership or other debtor relief granted to Borrower or its successors or assigns. In the event that Administrative Agent or any Lender must rescind or restore any payment received by Administrative Agent or any Lender, respectively, in satisfaction of the Guaranteed Obligations, as set forth herein, any prior release or discharge from the terms of this Guaranty given to Guarantor by Administrative Agent or such Lender, respectively, shall be without effect, and this Guaranty shall remain in full force and effect. It is the intention of Administrative Agent, Lenders and Guarantor that Guarantor's liabilities and obligations hereunder shall not be discharged except by the full and complete payment and performance of the Guaranteed Obligations and then only to the extent of such payment and performance. This Subject to Paragraph 21 hereof, this Guaranty is independent of, and in addition and without modification to (except as expressly provided in Paragraph 21 hereof), and does not impair or in any way affect any other guaranty, endorsement or other agreement executed in favor of Administrative Agent or any Lender, and this Guaranty and Guarantor's liabilities and obligations under this Guaranty shall not be impaired or otherwise affected by the execution, delivery or performance by Guarantor or any other Person of any other guaranty, endorsement or other agreement.

Continuing Guaranty of Payment. This Guaranty is and shall be an ------------------------------ absolute, unconditional, irrevocable and continuing guaranty of payment, and not merely of collection, and from time to time or at any time the Guaranteed Obligations may be increased, reduced or paid in full without affecting the liability or obligation of Guarantor with respect to indebtedness, liabilities and obligations of Borrower to Administrative Agent or any Lender thereafter incurred. Guarantor further agrees that this Guaranty shall continue to be effective or be reinstated (if a release or discharge has occurred), as the case may be, if at any time any payment (or any part thereof) to Administrative Agent or any Lender in respect of the Guaranteed Obligations is rescinded or must otherwise be restored by Administrative Agent or any Lender pursuant to any bankruptcy, insolvency, reorganization, receivership or other debtor relief granted to Borrower or its successors or assigns. In the event that Administrative Agent or any Lender must rescind or restore any payment received by Administrative Agent or any Lender, respectively, in satisfaction of the Guaranteed Obligations, as set forth herein, any prior release or discharge from the terms of this Guaranty given to Guarantor by Administrative Agent or such Lender, respectively, shall be without effect, and this Guaranty shall remain in full force and effect. It is the intention of Administrative Agent, Lenders and Guarantor that Guarantor's liabilities and obligations hereunder shall not be discharged except by the full and complete payment and performance of the Guaranteed Obligations and then only to the extent of such payment and performance. This Subject to Paragraph 21 hereof, ------------ this Guaranty is independent of, and in addition and without modification to (except as expressly provided in Paragraph 21 hereof), and does not impair or in ------------ any way affect any other guaranty, endorsement or other agreement executed in favor of Administrative Agent or any Lender, and this Guaranty and Guarantor's liabilities and obligations under this Guaranty shall not be impaired or otherwise affected by the execution, delivery or performance by Guarantor or any other Person of any other guaranty, endorsement or other agreement.

Continuing Guaranty of Payment. This In consideration of the Loans and other extensions of credit now and hereafter made by the Lenders, the LC Issuer and the Agent, each Guarantor, jointly and severally, hereby irrevocably, absolutely and unconditionally guarantees to the Lenders, the LC Issuer and the Agent the prompt and complete payment when due of (a) all of the obligations of each Guarantor under this Guaranty and under the other Loan Documents to which such Guarantor is and shall be an absolute, unconditional, irrevocable and continuing guaranty a party; (b) all "Obligations" of paymentthe Borrowers, and not merely each of collectionthem, under and from time to time as such term is defined in the Loan Agreement, whether for principal, interest (including interest accruing after the commencement of any proceeding under any bankruptcy or at insolvency law of any time the Guaranteed Obligations may be increased, reduced or paid in full without affecting the liability or obligation of Guarantor jurisdiction with respect to any Borrower, whether or not allowable as a claim thereunder), premium (if any), contingent and fixed liabilities with respect to letters of credit, expenses, fees, indemnities, commissions, reimbursements, charges, penalties and other liabilities or amounts payable thereunder or with respect thereto; and (c) all other indebtedness, liabilities and obligations of Borrower each Guarantor to Administrative Agent the Agent, the LC Issuer and the Lenders, or any Lender thereafter incurred. Guarantor further agrees that of them, of every kind and description, whether direct, indirect or contingent, now or hereafter existing, due or to become due, whether otherwise secured or unsecured and howsoever evidenced, incurred or arising under or in connection with this Guaranty shall continue to be effective or be reinstated (if a release or discharge has occurred)Agreement, as the case may be, if at any time any payment (Loan Agreement or any part thereof) to Administrative Agent or any Lender in respect other Loan Document (collectively, the "Guaranteed Obligations"). For purposes of this Guaranty, the Guaranteed Obligations is rescinded shall be due on the earliest of: (i) the due date thereof (by acceleration or must otherwise be restored otherwise); (ii) with respect to any obligation due on demand, upon demand therefor made by Administrative Agent the Lenders, the LC Issuer and the Agent, or any Lender pursuant of them, upon any of the Borrowers or any of the Guarantors; (iii) the giving of notice by the Lenders and the Agent to any Borrower or any Guarantor of the occurrence of any default by any Guarantor hereunder (including any material misrepresentation by any such Guarantor made herein or in connection herewith) or any Event of Default; or (iv) the commencement of any bankruptcy, insolvency, reorganization, receivership insolvency or other debtor relief granted to similar proceeding brought by or against any Borrower or its successors or assigns. In any Guarantor and, in the event that Administrative Agent case of any such proceeding instituted against any Borrower or any Lender must rescind Guarantor, either such Borrower or restore any such Guarantor consents to such proceeding, an order granting the relief requested in such proceeding is entered or such proceedings continues unstayed and undismissed for a period of 60 days. This is a guaranty of payment received by Administrative Agent rather than of collection; this is also a continuing guaranty and all liabilities to which this Guaranty applies, or any Lendermay apply, respectively, in satisfaction of the Guaranteed Obligations, as set forth herein, any prior release or discharge from under the terms of this Guaranty given to Guarantor by Administrative Agent or such Lender, respectively, hereof shall be without effect, and this Guaranty shall remain presumed to have been created in full force and effect. It is the intention of Administrative Agent, Lenders and Guarantor that Guarantor's liabilities and obligations hereunder shall not be discharged except by the full and complete payment and performance of the Guaranteed Obligations and then only to the extent of such payment and performance. This Guaranty is independent of, and in addition and without modification to and does not impair or in any way affect any other guaranty, endorsement or other agreement executed in favor of Administrative Agent or any Lender, and this Guaranty and Guarantor's liabilities and obligations under this Guaranty shall not be impaired or otherwise affected by the execution, delivery or performance by Guarantor or any other Person of any other guaranty, endorsement or other agreementreliance hereon.

Continuing Guaranty of Payment. This Guaranty is and shall be an absolute, unconditional, irrevocable and continuing guaranty of payment, and not merely of collection, and from time to time or at any time the Guaranteed Obligations may be increased, reduced or paid in full without affecting the liability or obligation of any Guarantor with respect to indebtedness, liabilities and obligations of Borrower to the Administrative Agent or any Lender thereafter incurred. Each Guarantor further agrees that this Guaranty shall continue to be effective or be reinstated (if a release or discharge has occurred), as the case may be, if at any time any payment (or any part thereof) to the Administrative Agent or any Lender in respect of the Guaranteed Obligations is rescinded or must otherwise be restored by the Administrative Agent or any such Lender pursuant to any bankruptcy, insolvency, reorganization, receivership or other debtor relief granted to Borrower or its successors or assigns. In the event that the Administrative Agent or any Lender must rescind or restore any payment received by the Administrative Agent or any Lender, respectively, in satisfaction of the Guaranteed Obligations, as set forth herein, any prior release or discharge from the terms of this Guaranty given to any Guarantor by the Administrative Agent or such Lender, respectively, shall be without effect, and this Guaranty shall remain in full force and effect. It is the intention of the Administrative Agent, the Lenders and each Guarantor that no Guarantor's ’s liabilities and obligations hereunder shall not be discharged except by the such Guarantor’s full and complete payment and performance of the Guaranteed Obligations its liabilities and obligations and then only to the extent of such payment and performance. This Guaranty is independent of, and in addition and without modification to and does not impair or in any way affect any other guaranty, endorsement or other agreement executed in favor of Administrative Agent or any Lender, and this Guaranty and Guarantor's liabilities and obligations under this Guaranty shall not be impaired or otherwise affected by the execution, delivery or performance by Guarantor or any other Person of any other guaranty, endorsement or other agreement.

Continuing Guaranty of Payment. This Guaranty is In consideration of the Bank agreeing to the Loan Documents and/or extending or continuing credit to the Borrower in connection therewith, the Guarantor irrevocably, absolutely and unconditionally guarantees to the Bank the payment when due of all Guaranteed Obligations, provided that the amount thereof so guaranteed shall be an absolutenot exceed the Principal Amount Guaranteed, unconditionalas stated in Section 1, irrevocable together with interest thereon and continuing guaranty other charges related thereto. For purposes of paymentthis Guaranty, and not merely of collection, and from time to time or at any time the Guaranteed Obligations may shall be increased, reduced due on the earliest of: a. the due date thereof (by acceleration or paid in full without affecting the liability or obligation of Guarantor otherwise), b. with respect to indebtednessany obligation due on demand, liabilities and obligations upon demand therefor made by the Bank upon the Borrower or the Guarantor, c. the giving of notice by the Bank to the Borrower to Administrative Agent or any Lender thereafter incurred. Guarantor further agrees that this Guaranty shall continue to be effective or be reinstated (if a release or discharge has occurred), as the case may be, if at any time any payment (or any part thereof) to Administrative Agent or any Lender in respect of the Guaranteed Obligations is rescinded occurrence of any default by the Guarantor hereunder (including, without limitation, any material misrepresentation by the Guarantor herein or must otherwise in connection herewith), d. the occurrence of a material adverse change in the financial condition, business or operations of the Borrower or the Guarantor, e. the Borrower shall disaffirm or disavow any of its obligations under the Loan Documents or the Guarantor shall disaffirm any of its obligations hereunder, f. the Borrower or the Guarantor shall admit in writing its inability to pay its debts as they become due, g. any indebtedness (direct or contingent) for borrowed money of the Borrower shall not be restored by Administrative Agent or paid as and when the same becomes due and payable, including any Lender pursuant to applicable grace period, or h. the commencement of any bankruptcy, insolvency, reorganization, receivership insolvency or other debtor relief granted to similar proceeding by or against the Borrower or its successors the Guarantor. This is a guaranty of payment rather than of collection; this is also a continuing guaranty and all liabilities to which this Guaranty applies, or assigns. In the event that Administrative Agent or any Lender must rescind or restore any payment received by Administrative Agent or any Lendermay apply, respectively, in satisfaction of the Guaranteed Obligations, as set forth herein, any prior release or discharge from under the terms of this Guaranty given to Guarantor by Administrative Agent or such Lender, respectively, hereof shall be without effect, and this Guaranty shall remain presumed to have been created in full force and effect. It is the intention of Administrative Agent, Lenders and Guarantor that Guarantor's liabilities and obligations hereunder shall not be discharged except by the full and complete payment and performance of the Guaranteed Obligations and then only to the extent of such payment and performance. This Guaranty is independent of, and in addition and without modification to and does not impair or in any way affect any other guaranty, endorsement or other agreement executed in favor of Administrative Agent or any Lender, and this Guaranty and Guarantor's liabilities and obligations under this Guaranty shall not be impaired or otherwise affected by the execution, delivery or performance by Guarantor or any other Person of any other guaranty, endorsement or other agreementreliance hereon.

Continuing Guaranty of Payment. This Guaranty is and shall be an absolute, unconditional, irrevocable and continuing guaranty of payment, and not merely of collection, and from time to time or at any time the Guaranteed Obligations may be increased, reduced or paid in full without affecting the liability or obligation of any Guarantor with respect to indebtedness, liabilities and obligations of Borrower to the Administrative Agent or any Lender thereafter incurred. Each Guarantor further agrees that this Guaranty shall continue to be effective or be reinstated (if a release or discharge has occurred), as the case may be, if at any time any payment (or any part thereof) to the Administrative Agent or any Lender in respect of the Guaranteed Obligations is rescinded or must otherwise be restored by the Administrative Agent or any such Lender pursuant to any bankruptcy, insolvency, reorganization, receivership or other debtor relief granted to Borrower or its successors or assigns. In the event that the Administrative Agent or any Lender must rescind or restore any payment received by the Administrative Agent or any Lender, respectively, in satisfaction of the Guaranteed Obligations, as set forth herein, any prior release or discharge from the terms of this Guaranty given to any Guarantor by the Administrative Agent or such Lender, respectively, shall be without effect, and this Guaranty shall remain in full force and effect. It is the intention of the Administrative Agent, the Lenders and each Guarantor that no Guarantor's liabilities and obligations hereunder shall not be discharged except by the such Guarantor's full and complete payment and performance of the Guaranteed Obligations its liabilities and obligations and then only to the extent of such payment and performance. This Guaranty is independent of, and in addition and without modification to and does not impair or in any way affect any other guaranty, endorsement or other agreement executed in favor of Administrative Agent or any Lender, and this Guaranty and Guarantor's liabilities and obligations under this Guaranty shall not be impaired or otherwise affected by the execution, delivery or performance by Guarantor or any other Person of any other guaranty, endorsement or other agreement.