Common use of Default by Borrower Clause in Contracts

Default by Borrower. If a Default exists, Guarantor shall pay the amount of the Guaranteed Debt then due and payable to Agent and Lenders on demand and without (a) further notice of dishonor, to Guarantor, (b) any prior notice to Guarantor of the acceptance by Agent or Lenders of this Guaranty, (c) any notice having been given to Guarantor prior to such demand of the creating or incurring of such indebtedness,