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, or (d) notice of intent to accelerate or notice of acceleration to Guarantor or Borrower. To enforce such payment by Guarantor it shall not be necessary for Agent or Lenders to first or contemporaneously institute suit or exhaust remedies against Borrower or others liable on such indebtedness, or to enforce Rights against any security or collateral ever given to secure such indebtedness.

Default by Borrower. If a Default exists, Guarantor Guarantors shall pay the amount of the Guaranteed Debt Obligation then due and payable to Agent and Lenders Lender on demand and without (a) further notice of dishonor, dishonor to any Guarantor, (b) any prior notice to any Guarantor of the acceptance by Agent or Lenders Lender of this Guaranty, (c) any notice having been given to any Guarantor prior to such demand of the creating or incurring of such indebtednessDebt, or (d) notice of intent to accelerate or notice of acceleration to any Guarantor or Borrower. To enforce such payment by Guarantor Guarantors it shall not be necessary for Agent or Lenders Lender to first or contemporaneously institute suit or exhaust remedies against Borrower or others liable on such indebtednessDebt, or to enforce Rights rights against any security or collateral ever given to secure such indebtednessDebt.

Default by Borrower. If a an Event of Default exists, Guarantor Guarantors shall pay the amount of the Guaranteed Debt Obligation then due and payable to Agent and Lenders Lender on demand and without (a) further notice of dishonor, to any Guarantor, (b) any prior notice to any Guarantor of the acceptance by Agent or Lenders Lender of this Guaranty, (c) any notice having been given to Guarantor Guarantors prior to such demand of the creating or incurring of such indebtednessIndebtedness, or (d) notice of intent to accelerate or notice of acceleration to any Guarantor or any Borrower. To enforce such payment by any Guarantor it shall not be necessary for Agent or Lenders Lender to first or contemporaneously institute suit or exhaust remedies against any Borrower or others liable on such indebtednessIndebtedness, or to enforce Rights rights against any security or collateral ever given to secure such indebtednessIndebtedness.