Common use of DEMANDS AND PAYMENT Clause in Contracts

DEMANDS AND PAYMENT. (a) If Obligor fails to pay any Obligation to Counterparty when such Obligation is due and owing under the Agreement (an “Overdue Obligation”), Counterparty may present a written demand to Guarantor calling for Guarantor’s payment of such Overdue Obligation pursuant to this Guaranty (a “Payment Demand”). (b) Guarantor’s obligation hereunder to pay any particular Overdue Obligation(s) to Counterparty is conditioned upon Guarantor’s receipt of a Payment Demand from Counterparty satisfying the following requirements: (i) such Payment Demand must identify the specific Overdue Obligation(s) covered by such demand, the specific date(s) upon which such Overdue Obligation(s) became due and owing under the Agreement, and the specific provision(s) of the Agreement pursuant to which such Overdue Obligation(s) became due and owing; (ii) such Payment Demand must be delivered to Guarantor in accordance with Section 9 below; and (iii) the specific Overdue Obligation(s) addressed by such Payment Demand must remain due and unpaid at the time of such delivery to Guarantor. (c) After issuing a Payment Demand in accordance with the requirements specified in Section 2(b) above, Counterparty shall not be required to issue any further notices or make any further demands with respect to the Overdue Obligation(s) specified in that Payment Demand, and Guarantor shall be required to make payment with respect to the Overdue Obligation(s) specified in that Payment Demand within five (5) Business Days after Guarantor receives such demand. As used herein, the term “Business Day” shall mean all weekdays (i.e., Monday through Friday) other than any weekdays during which commercial banks or financial institutions are authorized to be closed to the public in the State of Florida or the State of New York.

DEMANDS AND PAYMENT. (a) If any Obligor fails to completely and promptly pay any Guaranteed Obligation to Counterparty Buyers when such Guaranteed Obligation is finally determined to be due and owing under the Agreement (an “Overdue Obligation”), Counterparty may present a written Guarantor shall, promptly (and in any event within two (2) Business Days) and, immediately upon demand to Guarantor calling for Guarantor’s payment of such Overdue Obligation pursuant to this Guaranty by Buyers (a “Payment Demand”)) and without any other notice whatsoever, pay the amount due thereon to Buyers. (b) Guarantor’s obligation hereunder to pay any particular Overdue Obligation(s) to Counterparty Buyers is conditioned upon Guarantor’s receipt of a Payment Demand from Counterparty Buyers satisfying the following requirements: (i) such Payment Demand must identify the specific Overdue Obligation(s) covered by such demand, the specific date(s) upon which such Overdue Obligation(s) became due and owing under the Agreement, and the specific provision(s) of the Agreement pursuant to which such Overdue Obligation(s) became due and owing; (ii) such Payment Demand must be delivered to Guarantor in accordance with Section 9 12 below; and (iiiii) the specific Overdue Obligation(s) or any portion thereof addressed by such Payment Demand must remain due and unpaid at the time of such delivery to Guarantor. (c) After issuing So long as Buyers have validly made a Payment Demand in strict accordance with the requirements specified in Section 2(b3(b), it shall not be necessary for Buyers, in order to enforce such payment by Guarantor specified in such Payment Demand (and Guarantor hereby waives any rights that Guarantor may have to require Buyers), to separately take any action, obtain any judgment or file any claim prior to enforcing this Guaranty, including to institute suit or pursue or exhaust any rights or remedies against Obligors or others liable for such payment, or to join Obligors for the payment of the Guaranteed Obligations or any part thereof in any action to enforce the Guaranty, or to resort to any other means of obtaining payment of the Guaranteed Obligations. (d) aboveSuit may be brought or demand may be made against Obligors or Guarantor, Counterparty separately or together, without impairing the rights of Buyers against any party hereto. Any time that Buyers are entitled to exercise their rights or remedies hereunder, they may in their discretion elect to demand payment, all to the extent of their right to so elect under the terms of the Agreement. Subject to Section 10 hereof, if Buyers make a Payment Demand hereunder, such election shall not affect Buyers’ right to demand payment thereafter under, and in accordance with the terms of, the Agreement, until all of the Guaranteed Obligations have been paid in full. (e) After validly issuing a Payment Demand in strict accordance with the requirements specified in Section 3(b), Buyers shall not be required to issue any further notices or make any further demands with respect to the Overdue Obligation(s) specified in that Payment Demand, and Guarantor shall be required to make payment with respect to the Overdue Obligation(s) specified in that Payment Demand within five (5) Business Days after Guarantor receives such demand. As used herein, the term “Business Day” shall mean all weekdays (i.e., Monday through Friday) other than any weekdays during which commercial banks or financial institutions are authorized to be closed to the public in the State of Florida or the State of New York.

DEMANDS AND PAYMENT. (a) a. If Obligor fails to pay any Obligation to Counterparty the Company when such Obligation is due and owing under the Agreement (an “Overdue Obligation”), Counterparty the Company may present a written demand to Guarantor calling for Guarantor’s payment of such Overdue Obligation pursuant to this Guaranty (a “Payment Demand”). (b) b. Guarantor’s obligation hereunder to pay any particular Overdue Obligation(s) to Counterparty the Company is conditioned upon Guarantor’s receipt of a Payment Demand from Counterparty the Company satisfying the following requirements: (i) such Payment Demand must identify the specific Overdue Obligation(s) covered by such demand, demand and the specific date(s) upon which such Overdue Obligation(s) became due and owing under the Agreement, and the specific provision(s) of the Agreement pursuant to which such Overdue Obligation(s) became due and owing; (ii) such Payment Demand must be delivered to Guarantor in accordance with Section 9 below; and (iii) the specific Overdue Obligation(s) addressed by such Payment Demand must remain due and unpaid at the time of such delivery to Guarantor. (c) c. After issuing a Payment Demand in accordance with the requirements specified in Section 2(b) above, Counterparty the Company shall not be required to issue any further notices or make any further demands with respect to the Overdue Obligation(s) specified in that Payment Demand, and Guarantor shall be required to make payment with respect to the Overdue Obligation(s) specified in that Payment Demand within five (5) Business Days after Guarantor receives such demand. As used herein, demand unless the term “Business Day” shall mean all weekdays (i.e., Monday through Friday) other than any weekdays during which commercial banks or financial institutions are authorized to be closed to the public in the State of Florida or the State of New YorkObligor pays such Obligation within such period.

DEMANDS AND PAYMENT. (a) If Obligor fails to completely and promptly pay or perform any Guaranteed Obligation to Counterparty Seller when such Guaranteed Obligation is finally determined to be due and owing under the Agreement (an “Overdue Obligation”), Counterparty may present a written Guarantor shall, promptly (and in any event within two (2) Business Days) upon demand to Guarantor calling for Guarantor’s payment of such Overdue Obligation pursuant to this Guaranty by Seller (a “Payment Demand”) and without any other notice whatsoever, pay the amount due thereon to Seller or, as applicable, perform such Overdue Obligation(s). Amounts not paid when due hereunder shall accrue interest in accordance with Section 13(j) hereof. (b) Guarantor’s obligation hereunder to pay or perform any particular Overdue Obligation(s) to Counterparty Seller is conditioned upon Guarantor’s receipt of a Payment Demand from Counterparty Seller satisfying the following requirements: (i) such Payment Demand must identify the specific Overdue Obligation(s) covered by such demand, the specific date(s) upon which such Overdue Obligation(s) became due and owing under the Agreement, and the specific provision(s) of the Agreement pursuant to which such Overdue Obligation(s) became due and owing; (ii) such Payment Demand must be delivered to Guarantor in accordance with Section 9 12 below; and (iiiii) the specific Overdue Obligation(s) or any portion thereof addressed by such Payment Demand must remain due and unpaid at the time of such delivery to Guarantor. (c) So long as Seller has validly made a Payment Demand in accordance with the requirements specified in Section 3(b), it shall not be necessary for Seller, in order to enforce such payment or performance by Guarantor specified in such Payment Demand (and Guarantor hereby waives any rights that Guarantor may have to require Seller), to separately take any action, obtain any judgment or file any claim prior to enforcing this Guaranty, including to institute suit or pursue or exhaust any rights or remedies against Obligor or others liable for such payment or for such performance, or to join Obligor for the payment or performance of the Guaranteed Obligations or any part thereof in any Action to enforce this Guaranty, or to resort to any other means of obtaining payment or performance of the Guaranteed Obligations. Subject to Seller’s obligations in the Agreement, Seller shall not be required to mitigate damages or take any other action to reduce, collect or enforce the Guaranteed Obligations hereunder. (d) Suit may be brought or demand may be made against Obligor or Guarantor, separately or together, without impairing the rights of Seller against any party hereto. Any time that Seller is entitled to exercise its rights or remedies hereunder, it may in its discretion elect to demand payment or payment in lieu of performance, all to the extent of its right to so elect under the terms of the Agreement. Subject to Section 10 hereof, if Seller makes a Payment Demand hereunder, such election shall not affect Seller’s right to demand payment thereafter under, and in accordance with the terms of, the Agreement, until all of the Guaranteed Obligations have been paid and performed in full. (e) After validly issuing a Payment Demand in accordance with the requirements specified in Section 2(b) above3(b), Counterparty Seller shall not be required to issue any further notices or make any further demands with respect to the Overdue Obligation(s) specified in that Payment Demand, and Guarantor shall be required to make payment with respect to the Overdue Obligation(s) specified in that Payment Demand within five (5) Business Days after Guarantor receives such demand. As used herein, the term “Business Day” shall mean all weekdays (i.e., Monday through Friday) other than any weekdays during which commercial banks or financial institutions are authorized to be closed to the public in the State of Florida or the State of New York.

DEMANDS AND PAYMENT. (a) a. If Obligor fails to pay any Series B Obligation to Counterparty the Company when such Series B Obligation is due and owing under the Agreement (an “Overdue Obligation”), Counterparty the Company may present a written demand to Guarantor calling for Guarantor’s payment of such Overdue Obligation pursuant to this Guaranty (a “Payment Demand”). (b) b. Guarantor’s obligation hereunder to pay any particular Overdue Obligation(s) to Counterparty the Company is conditioned upon Guarantor’s receipt of a Payment Demand from Counterparty the Company satisfying the following requirements: (i) such Payment Demand must identify the specific Overdue Obligation(s) covered by such demand, demand and the specific date(s) upon which such Overdue Obligation(s) became due and owing under the Agreement, and the specific provision(s) of the Agreement pursuant to which such Overdue Obligation(s) became due and owing; (ii) such Payment Demand must be delivered to Guarantor in accordance with Section 9 below; and (iii) the specific Overdue Obligation(s) addressed by such Payment Demand must remain due and unpaid at the time of such delivery to Guarantor. (c) c. After issuing a Payment Demand in accordance with the requirements specified in Section 2(b) above, Counterparty the Company shall not be required to issue any further notices or make any further demands with respect to the Overdue Obligation(s) specified in that Payment Demand, and Guarantor shall be required to make payment with respect to the Overdue Obligation(s) specified in that Payment Demand within five (5) Business Days after Guarantor receives such demand. As used herein, demand unless the term “Business Day” shall mean all weekdays (i.e., Monday through Friday) other than any weekdays during which commercial banks or financial institutions are authorized to be closed to the public in the State of Florida or the State of New YorkObligor pays such Series B Obligation within such period.

DEMANDS AND PAYMENT. (a) If Obligor fails to completely and promptly pay or perform any Guaranteed Obligation to Counterparty Purchaser when such Guaranteed Obligation is finally determined to be due and owing under the Agreement (an “Overdue Obligation”), Counterparty may present a written Guarantor shall, promptly (and in any event within two (2) Business Days) upon demand to Guarantor calling for Guarantor’s payment of such Overdue Obligation pursuant to this Guaranty by Purchaser (a “Payment Demand”) and without any other notice whatsoever, pay the amount due thereon to Purchaser or, as applicable, perform such Overdue Obligation(s). Amounts not paid when due hereunder shall accrue interest in accordance with Section 13(j) hereof. (b) Guarantor’s obligation hereunder to pay or perform any particular Overdue Obligation(s) to Counterparty Purchaser is conditioned upon Guarantor’s receipt of a Payment Demand from Counterparty Purchaser satisfying the following requirements: (i) such Payment Demand must identify the specific Overdue Obligation(s) covered by such demand, the specific date(s) upon which such Overdue Obligation(s) became due and owing under the Agreement, and the specific provision(s) of the Agreement pursuant to which such Overdue Obligation(s) became due and owing; (ii) such Payment Demand must be delivered to Guarantor in accordance with Section 9 12 below; and (iiiii) the specific Overdue Obligation(s) or any portion thereof addressed by such Payment Demand must remain due and unpaid at the time of such delivery to Guarantor. (c) So long as Purchaser has validly made a Payment Demand in accordance with the requirements specified in Section 3(b), it shall not be necessary for Purchaser, in order to enforce such payment or performance by Guarantor specified in such Payment Demand (and Guarantor hereby waives any rights that Guarantor may have to require Purchaser), to separately take any action, obtain any judgment or file any claim prior to enforcing this Guaranty, including to institute suit or pursue or exhaust any rights or remedies against Obligor or others liable for such payment or for such performance, or to join Obligor for the payment or performance of the Guaranteed Obligations or any part thereof in any Action to enforce this Guaranty, or to resort to any other means of obtaining payment or performance of the Guaranteed Obligations. Subject to Purchaser’s obligations in the Agreement, Purchaser shall not be required to mitigate damages or take any other action to reduce, collect or enforce the Guaranteed Obligations hereunder. (d) Suit may be brought or demand may be made against Obligor or Guarantor, separately or together, without impairing the rights of Purchaser against any party hereto. Any time that Purchaser is entitled to exercise its rights or remedies hereunder, it may in its discretion elect to demand payment or payment in lieu of performance, all to the extent of its right to so elect under the terms of the Agreement. Subject to Section 10 hereof, if Purchaser makes a Payment Demand hereunder, such election shall not affect Purchaser’s right to demand payment thereafter under, and in accordance with the terms of, the Agreement, until all of the Guaranteed Obligations have been paid and performed in full. (e) After validly issuing a Payment Demand in accordance with the requirements specified in Section 2(b) above3(b), Counterparty Purchaser shall not be required to issue any further notices or make any further demands with respect to the Overdue Obligation(s) specified in that Payment Demand, and Guarantor shall be required to make payment with respect to the Overdue Obligation(s) specified in that Payment Demand within five (5) Business Days after Guarantor receives such demand. As used herein, the term “Business Day” shall mean all weekdays (i.e., Monday through Friday) other than any weekdays during which commercial banks or financial institutions are authorized to be closed to the public in the State of Florida or the State of New York.

DEMANDS AND PAYMENT. (a) If Obligor fails to pay any Obligation to Counterparty Counterparties when such Obligation is due and owing under the Agreement (an “Overdue Obligation”), Counterparty Counterparties may present a written demand to Guarantor calling for Guarantor’s payment of such Overdue Obligation pursuant to this Guaranty (a “Payment Demand”). (b) Guarantor’s obligation hereunder to pay any particular Overdue Obligation(s) to Counterparty Counterparties is conditioned upon Guarantor’s receipt of a Payment Demand from Counterparty Counterparties satisfying the following requirements: (i) such Payment Demand must identify the specific Overdue Obligation(s) covered by such demand, the specific date(s) upon which such Overdue Obligation(s) became due and owing under the Agreement, and the specific provision(s) of the Agreement pursuant to which such Overdue Obligation(s) became due and owing; (ii) such Payment Demand must be delivered to Guarantor in accordance with Section 9 below; and (iii) the specific Overdue Obligation(s) addressed by such Payment Demand must remain due and unpaid at the time of such delivery to Guarantor. (c) After issuing a Payment Demand in accordance with the requirements specified in Section 2(b) above, Counterparty Counterparties shall not be required to issue any further notices or make any further demands with respect to the Overdue Obligation(s) specified in that Payment Demand, and Guarantor shall be required to make payment with respect to the Overdue Obligation(s) specified in that Payment Demand within five (5) Business Days after Guarantor receives such demand. As used herein, the term “Business Day” shall mean all weekdays (i.e., Monday through Friday) other than any weekdays during which commercial banks or financial institutions are authorized to be closed to the public in the State of Florida or the State of New York.

DEMANDS AND PAYMENT. (a) If Obligor fails to pay any Obligation to Counterparty when such Obligation is due and owing under the Agreement (an “Overdue Obligation”), Counterparty may present a written demand to Guarantor calling for Guarantor’s payment of such Overdue Obligation pursuant to this Guaranty (a “Payment Demand”). (b) Guarantor’s obligation hereunder to pay any particular Overdue Obligation(s) to Counterparty is conditioned upon Guarantor’s receipt of a Payment Demand from Counterparty satisfying the following requirements: (i) such Payment Demand must identify the specific Overdue Obligation(s) covered by such demand, the specific date(s) upon which such Overdue Obligation(s) became due and owing under the Agreement, and the specific provision(s) of the Agreement pursuant to which such Overdue Obligation(s) became due and owing; (ii) such Payment Demand must be delivered to Guarantor in accordance with Section 9 below; and (iii) the specific Overdue Obligation(s) addressed by such Payment Demand must remain due and unpaid at the time of such delivery to Guarantor. (c) After issuing a Payment Demand in accordance with the requirements specified in Section 2(b) above, Counterparty shall not be required to issue any further notices or make any further demands with respect to the Overdue Obligation(s) specified in that Payment Demand, and Guarantor shall be required to make payment with respect to the Overdue Obligation(s) specified in that Payment Demand within five (5) Business Days after Guarantor receives such demand. As used herein, the term “Business Day” shall mean all weekdays (i.e., Monday through Friday) other than any weekdays during which commercial banks or financial institutions are authorized to be closed to the public in the State of Florida Florida, State of Indiana or the State of New York.