Common use of Death of Guarantor Clause in Contracts

Death of Guarantor. In the event of the death of Guarantor, any duly authorized representative of the estate of Guarantor may revoke Guarantor's future obligations under this Guaranty by giving Lender written notice of Guarantor's death and that the estate of Guarantor shall not be liable hereunder for any indebtedness or obligations of Borrower incurred on or after the effective date of such revocation. Such revocation shall be deemed to be effective on the day following the day Lender receives such notice delivered either by: (a) personal delivery to the address and designated department of Lender identified in subparagraph 1(a) above, or (b) United States mail, registered or certified, return receipt requested, postage prepaid, addressed to Lender at the address shown in subparagraph 1(a) above. Notwithstanding such revocation, the obligations of the deceased Guarantor shall continue as an obligation against his estate as to (x) all of the Guaranteed Indebtedness that is outstanding on the effective date of such revocation, and any renewals or extensions thereof, and (y) all loans, advances and other extensions of credit made to or for the account of Borrower on or after the effective date of such revocation pursuant to an obligation of Lender under a commitment or agreement made to or with Borrower prior to the effective date of such revocation. The terms and conditions of this Guaranty, including without limitation the consents and waivers set forth in Section 6 hereof, shall remain in effect with respect to the Guaranteed Indebtedness described in the preceding sentence in the same manner as if such revocation had not been made.

Death of Guarantor. In the event of the death of Guarantor, any duly authorized representative of the estate of Guarantor may revoke Guarantor's future obligations under this Guaranty by giving Lender Bank written notice of Guarantor's death and that the estate of Guarantor shall not be liable hereunder for any indebtedness or obligations of Borrower incurred on or after the effective date of such revocation. Such revocation shall be deemed to be effective on the day following the day Lender Bank receives such notice delivered either by: (a) personal delivery to the address and designated department of Lender Bank identified in subparagraph 1(al(a) above, or (b) United States mail, registered or certified, return receipt requested, postage prepaid, addressed to Lender Bank at the address shown in subparagraph 1(ala) above. Notwithstanding such revocation, the obligations of the deceased Guarantor shall continue as an obligation against his estate as to (x) all of the Guaranteed Indebtedness that is outstanding on the effective date of such revocation, and any renewals or extensions thereof, and (y) all loans, advances and other extensions of credit made to or for the account of Borrower on or after the effective date of such revocation pursuant to an obligation of Lender Bank under a commitment or agreement made to or with Borrower prior to the effective date of such revocation. The terms and conditions of this Guaranty, including without limitation the consents and waivers set forth in Section 6 paragraph 7 hereof, shall remain in effect with respect to the Guaranteed Indebtedness described in the preceding sentence in the same manner as if such revocation had not been made.

Death of Guarantor. In the event of the death of Guarantor, any duly authorized representative of the estate of Guarantor may revoke Guarantor's future obligations under this Guaranty by giving Lender Bank written notice of Guarantor's of death and that the estate of Guarantor shall not be liable hereunder for any indebtedness or obligations of Borrower incurred on or after the effective date of such revocation. Such revocation shall be deemed to be effective on the day following the day Lender Bank receives such notice delivered either by: (a) personal delivery to the address and designated department of Lender Bank identified in subparagraph 1(a) above, or (b) United States mail, registered or certified, return receipt requested, postage prepaid, addressed to Lender Bank at the address shown in subparagraph 1(a) above. Notwithstanding such revocation, the obligations of the deceased Guarantor shall continue as an obligation against his estate as to (xa) all of the Guaranteed Indebtedness that is outstanding on the effective date of such revocation, and any renewals or extensions thereof, and (yb) all loans, advances and other extensions of credit made to or for the account of Borrower on or after the effective date of such revocation pursuant to an obligation of Lender Bank under a commitment or agreement made to or with Borrower prior to the effective date of such revocation. The terms and conditions of this Guaranty, including without limitation the consents and waivers set forth in Section 6 paragraph 7 hereof, shall remain in effect with respect to the Guaranteed Indebtedness described in the preceding sentence in the same manner as if such revocation had not been made.

Death of Guarantor. In the event of the death of Guarantor, any duly authorized representative of the estate of Guarantor may revoke Guarantor's future obligations under this Guaranty by giving Lender Bank written notice of Guarantor's death and that the estate of Guarantor shall not be liable hereunder for any indebtedness or obligations of Borrower incurred on or after the effective date of such revocation. Such revocation shall be deemed to be effective on the day following the day Lender Bank receives such notice delivered either by: (a) personal delivery to the address and designated department of Lender Bank identified in subparagraph 1(a) above, or (b) United States mail, registered or certified, return receipt requested, postage prepaidprep aid, addressed to Lender Bank at the address shown in subparagraph 1(a) above. Notwithstanding such revocation, the obligations of the deceased Guarantor shall continue as an obligation against his estate as to (x) all of the Guaranteed Indebtedness that is outstanding on the effective date of such revocation, and any renewals or extensions thereof, and (y) all loans, advances and other extensions of credit made to or for the account of Borrower on or after the effective date of such revocation pursuant to an obligation of Lender Bank under a commitment or agreement made to or with Borrower prior to the effective date of such revocation. The terms and conditions of this Guaranty, including without limitation the consents and waivers set forth in Section 6 paragraph 7 hereof, shall remain in effect with respect to the Guaranteed Indebtedness described in the preceding sentence in the same manner as if such revocation had not been made.. UNLIMITED GUARANTY - Page 7 ------------------