Default Under Guaranty Clause Samples
The "Default Under Guaranty" clause defines the circumstances under which a guarantor is considered to be in default of their obligations under a guaranty agreement. Typically, this clause outlines specific events—such as failure to pay a guaranteed debt when due or breach of other obligations by the guarantor—that trigger a default. For example, if the guarantor does not fulfill payment obligations after the borrower defaults, or if the guarantor becomes insolvent, these situations may constitute a default under the guaranty. The core function of this clause is to clearly establish what constitutes a default by the guarantor, thereby protecting the lender’s interests and providing a basis for enforcing the guaranty if necessary.
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Default Under Guaranty. The occurrence of a default under any guaranty now or hereafter executed in connection with the Loan, including, without limitation, any Guarantor’s (defined parties) or other guarantor’s failure to perform any covenant, condition, or obligation thereunder; or
Default Under Guaranty. Any guarantor shall fail to meet or comply with any term or condition of its respective guaranty or shall seek to cancel or revoke his or its respective guaranty for any reason whatsoever or shall default in the payment or performance of any obligations thereunder to the Buyer.
Default Under Guaranty. Guarantor fails to perform any term, condition or agreement contained in the Continuing Guaranty or notifies Lender of an intention to revoke the Continuing Guaranty.
Default Under Guaranty. Any Guarantor shall default in the performance or observance of any term or agreement contained in the Guaranty; or
Default Under Guaranty. The occurrence of a default under the Recourse Guaranty Agreement and such default is not cured within any grace or cure periods provided therein.
Default Under Guaranty. If an Event of Default (as defined in the Guaranty) has occurred and is continuing or the Guaranty shall for any reason cease to be valid and binding against the Parent or the Parent shall so state in writing.
Default Under Guaranty. The occurrence of a default under the Guaranty, or any other guaranty now or hereafter executed in connection with the Loan, including without limitation any Guarantor’s failure to perform any covenant, condition, or obligation thereunder that continues for a period of thirty (30) days after written notice from Administrative Agent; provided, however, that no additional cure period (beyond any cure periods provided therein) shall be provided upon a breach of the financial covenants set forth in the Guaranty, and a breach of any of said financial covenants shall constitute an immediate Default under the Guaranty and this Agreement; provided, however, in the event that (x) Guarantor is not in compliance with the covenant regarding its required Minimum Liquid Assets (as defined in the Guaranty), and (y) Guarantor deposits funds into an account with Administrative Agent or makes a principal prepayment to Administrative Agent as provided in Section 12.1(c) of the Guaranty in lieu of maintaining the required Minimum Liquid Assets, then such event shall not constitute a Default hereunder; or
Default Under Guaranty. The occurrence of any default under the Guaranty.
Default Under Guaranty. The Guarantors, individually or collectively, shall default in the due performance and observation of any of their obligations under the Guaranty.
Default Under Guaranty. (i) Any Guarantor shall fail to make any payment, when due, in respect of any Guaranteed Obligations (as defined in the Guaranty) pursuant to the terms thereof; (ii) any Guarantor shall fail to perform or observe any covenant, agreement or provision to be performed or observed under the Guaranty or any other Loan Document; or (iii) any representation or warranty of any Guarantor in the Guaranty or in any other Loan Document shall prove to have been false or misleading in any material respect at the time made or intended to be effective.”