Common use of Covenants of Guarantor Clause in Contracts

Covenants of Guarantor. (a) Guarantor absolutely, unconditionally and irrevocably guarantees, as a primary obligor and not merely as a surety: (i) the full and prompt payment of all Base Rent and Additional Charges and all other rent, sums and charges of every type and nature payable by Tenant under the Lease, whether due by acceleration or otherwise, including costs and expenses of collection (collectively, the “Monetary Obligations”), and (ii) the full, timely and complete performance of all covenants, terms, conditions, obligations, indemnities and agreements to be performed by Tenant under the Lease, including any indemnities or other obligations of Tenant that survive the expiration or earlier termination of the Lease (all of the obligations described in clauses (i) and (ii), are collectively referred to herein as the “Obligations”). If Tenant defaults under the Lease, Guarantor will, without notice or demand, promptly pay and perform all of the outstanding Obligations, and pay to Landlord, when and as due, all Monetary Obligations due and payable by Tenant under the Lease, together with all damages, costs and expenses to which Landlord is entitled pursuant to any or all of the Lease, this Guaranty and applicable Legal Requirements; provided, however, that Landlord shall not commence any litigation against Guarantor with respect to such Obligations unless and until an Event of Default has occurred and is continuing.

Appears in 3 contracts

Samples: Master Lease (Newcastle Investment Corp), Guaranty of Lease (Newcastle Investment Corp), Guaranty of Lease (National Health Investors Inc)

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Covenants of Guarantor. (a) Guarantor absolutely, unconditionally and irrevocably guarantees, as a primary obligor and not merely as a surety: (i) the full and prompt payment of all Base Rent and Additional Charges Rent and all other rent, sums and charges of every type and nature payable by Tenant under the Lease, whether due by acceleration or otherwise, including costs and expenses of collection (collectively, the “Monetary Obligations”), and (ii) the full, timely and complete performance of all covenants, terms, conditions, obligations, indemnities and agreements to be performed by Tenant under the Lease, including any indemnities or other obligations of Tenant that survive the expiration or earlier termination of the Lease (all of the obligations described in clauses (i) and (ii), are collectively referred to herein as the “Obligations”). If Tenant defaults under the Lease, Guarantor will, without notice or demand, promptly pay and perform all of the outstanding Obligations, and pay to Landlord, when and as due, all Monetary Obligations due and payable by Tenant under the Lease, together with all damages, costs and expenses to which Landlord is entitled pursuant to any or all of the Lease, this Guaranty and applicable Legal Requirements; provided, however, that Landlord shall not commence any litigation against Guarantor with respect to such Obligations unless and until an Event of Default has occurred and is continuing.

Appears in 2 contracts

Samples: Guaranty of Master Lease (CareTrust REIT, Inc.), Guaranty of Master Lease (CareTrust REIT, Inc.)

Covenants of Guarantor. (a) A. Guarantor absolutely, unconditionally and irrevocably guarantees, as a primary obligor and not merely as a surety: (i) the full and prompt payment of all Base Rent, additional Rent and Additional Charges and all other rent, sums and charges of every type and nature payable by Tenant under the Lease, whether due by acceleration or otherwise, including out of pocket costs and expenses of collection (collectively, the “Monetary Obligations”), and (ii) the full, timely and complete performance of all covenants, terms, conditions, obligations, indemnities and agreements to be performed by Tenant under the Lease, including any indemnities or other obligations of Tenant that survive the expiration or earlier termination of the Lease (all of the obligations described in clauses (i) and (ii), ) are collectively referred to herein as the “Obligations”). If Tenant defaults under the LeaseLease (subject to any applicable grace periods), Guarantor will, without notice or demand, will promptly pay and perform all of the outstanding Obligations, Obligations and pay to Landlord, when and as due, all Monetary Obligations due and payable by Tenant then due under the Lease, together with all damages, damages and out of pocket costs and expenses to which Landlord is entitled pursuant to any or all of the Lease, Lease and this Guaranty and applicable Legal Requirements; provided, however, that Landlord shall not commence any litigation against Guarantor with respect to such Obligations unless and until an Event of Default has occurred and is continuingGuaranty.

Appears in 2 contracts

Samples: Lease Agreement (Big Lots Inc), Lease Agreement (Big Lots Inc)

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Covenants of Guarantor. (a) A. Guarantor absolutely, unconditionally and irrevocably guarantees, as a primary obligor and not merely as a surety: (i) the full and prompt payment of all Base Rent, additional Rent and Additional Charges and all other rent, sums and charges of every type and nature payable by Tenant under the Lease, whether due by acceleration or otherwise, including out of pocket costs and expenses of collection (collectively, the “Monetary Obligations”), and (ii) the full, timely and complete performance of all covenants, terms, conditions, obligations, indemnities and agreements to be performed by Tenant under the Lease, including any indemnities or other obligations of Tenant that survive the expiration or earlier termination of the Lease (all of the obligations described in clauses (i) and (ii), ) are collectively referred to herein as the “Obligations”). If Tenant defaults under the Lease (subject to any applicable grace periods set forth in the Lease), Guarantor will, without notice or demand, will promptly pay and perform all of the outstanding Obligations, Obligations and pay to Landlord, when and as due, all Monetary Obligations due and payable by Tenant Xxxxxx then due under the Lease, together with all damages, damages and out of pocket costs and expenses to which Landlord is entitled pursuant to any or all of the Lease, Lease and this Guaranty and applicable Legal Requirements; provided, however, that Landlord shall not commence any litigation against Guarantor with respect to such Obligations unless and until an Event of Default has occurred and is continuingGuaranty.

Appears in 1 contract

Samples: Lease Agreement (Big Lots Inc)

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