Common use of Continuing Guaranty of Payment Clause in Contracts

Continuing Guaranty of Payment. In consideration of RZB 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 RZB the payment when due of all Guaranteed Obligations, together with interest thereon and other charges related thereto. For purposes of this Guaranty, the Guaranteed Obligations shall be due on the earliest of: 2.a. the due date thereof (by acceleration or otherwise), 2.b. with respect to any obligation due on demand, upon demand therefor made by RZB upon the Borrower or the Guarantor, 2.c. the giving of notice by RZB to the Borrower or Guarantor of the occurrence of any default by the Guarantor hereunder (including any material misrepresentation by the Guarantor herein or in connection herewith), 2.d. the occurrence of a material adverse change in the Borrower or the Guarantor, 2.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, or 2.f. the Borrower or the Guarantor shall admit in writing its inability to pay its debts as they become due. 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 may apply, under the terms hereof shall be presumed to have been created in reliance hereon.

Continuing Guaranty of Payment. In consideration of RZB 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 RZB the payment when due of all Guaranteed Obligations, together with interest thereon and other charges related thereto. For purposes of this Guaranty, the Guaranteed Obligations shall be due on the earliest of: 2.a. the due date thereof (by acceleration or otherwise), 2.b. with respect to any obligation due on demand, upon demand therefor made by RZB upon the Borrower or the Guarantor, 2.c. the giving of notice by RZB to the Borrower or Guarantor of the occurrence of any default by the Guarantor hereunder (including any material misrepresentation by the Guarantor herein or in connection herewith), 2.d. the occurrence of a material adverse change in the Borrower or the Guarantor, 2.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, or, 2.f. the Borrower or the Guarantor shall admit in writing its inability to pay its debts as they become due, 2.g. any indebtedness (direct or contingent) for borrowed money of the Borrower or the Guarantor shall not be paid as and when the same becomes due and payable, including any applicable grace period, or 2.h. the commencement of any bankruptcy, insolvency or similar proceeding by or against the Borrower or 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 may apply, under the terms hereof shall be presumed to have been created in reliance hereon.

Continuing Guaranty of Payment. In consideration of RZB 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 RZB the payment when due of all Guaranteed Obligations, together with interest thereon and other charges related thereto. For purposes of this Guaranty, the Guaranteed Obligations shall be due on the earliest of: 2.a. the due date thereof (by acceleration or otherwise), 2.b. with respect to any obligation due on demand, upon demand therefor made by RZB upon the Borrower or the Guarantor, 2.c. the giving of notice by RZB to the Borrower or Guarantor of the occurrence of any default by the Guarantor hereunder (including any material misrepresentation by the Guarantor herein or in connection herewith), 2.d. the occurrence of a material adverse change in the Borrower or the Guarantor, 2.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, or, 2.f. the Borrower or the Guarantor shall admit in writing its inability to pay its debts as they become due, 2.g. any indebtedness (direct or contingent) for borrowed money of the Borrower or the Guarantor shall not be paid as and when the same becomes due and payable, including any applicable grace period, or 2.h. the commencement of any bankruptcy, insolvency or similar proceeding by or against the Borrower or 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 may apply, under the terms hereof shall be presumed to have been created in reliance hereon.