Common use of DURATION OF GUARANTY Clause in Contracts

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by Lender, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be delivered to Lender at the address of Lender listed below or such other place as Lender may designate in writing. This Guaranty may be revoked only with respect to the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after the date on which written notice of revocation is actually received by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired or committed to by Lender, prior to receipt of such notice; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement or a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lender; or (d) renewals, extensions, consolidations, substitutions, and refinancings of the foregoing. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this Guaranty shall bind the estate of Guarantor as to Obligations created both before and after the death or incapacity of Guarantor, regardless of Lender’s actual notice of Guarantor’s death or incapacity. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke this Guaranty in the same manner in which Guarantor might have revoked it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, shall not affect the liability of Guarantor under this Guaranty. Notwithstanding any provision to the contrary, it shall be an Event of Default under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan Documents. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations covered by this Guaranty, and it is specifically acknowledged and agreed by Guarantor that reductions in the amount of the Obligations, even to zero dollars shall not constitute a termination of this Guaranty.

Appears in 9 contracts

Samples: Unlimited Guaranty (Armada Oil, Inc.), Unlimited Guaranty (Armada Oil, Inc.), Unlimited Guaranty (Armada Oil, Inc.)

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DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by LenderXxxxxx, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor’s other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Xxxxxx’s address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to advances or new Indebtedness created after actual receipt by Xxxxxx of Guarantor’s written revocation. For this purpose and without limitation, the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after term “new Indebtedness” does not include Indebtedness which at the date on which written time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. This Guaranty will continue to bind Guarantor for all Indebtedness incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired Borrower or committed to by Lender, Lender prior to receipt of such notice; (c) now existing Guarantor’s written notice of revocation, including any extensions, renewals, substitutions or hereafter created pursuant to or evidenced by modifications of the Loan Agreement or a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lender; or (d) Indebtedness. All renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness granted after Guarantor’s revocation, are contemplated under this Guaranty and, specifically will not be considered to be new Indebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor’s estate of Guarantor as to Obligations Indebtedness created both before and after the Guarantor’s death or incapacity of Guarantorincapacity, regardless of Lender’s actual notice of Guarantor’s death or incapacitydeath. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it shall be an Event liability of Default any remaining Guarantors under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan DocumentsGuaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), prior to Guarantor’s written revocation of this Guaranty shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor’s heirs, successors and assigns so long as any of the guaranteed Indebtedness remains unpaid and even though the Indebtedness guaranteed may from time to time be zero dollars ($0.00).

Appears in 8 contracts

Samples: Commercial Guaranty, Commercial Guaranty (Zimmer Alan M), Commercial Guaranty (Zimmer Alan M)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by Lender, or any notice to Guarantor or to BorrowerBorrowers , and will continue in full force until all Obligations incurred, committed, or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be delivered to Lender at the address of Lender listed below or such other place as Lender may designate in writing. This Guaranty may be revoked only with respect to the Obligations incurred or contracted by BorrowerBorrowers, or acquired or committed to by Lender after the date on which written notice of revocation is actually received by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by BorrowerBorrowers, or acquired or committed to by Lender, prior to receipt of such notice; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement or a commitment in existence prior to receipt of such notice under which Borrower is Borrowers are or may become obligated to Lender; or (d) renewals, extensions, consolidations, substitutions, and refinancings of the foregoing. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this Guaranty shall bind the estate of Guarantor as to Obligations created both before and after the death or incapacity of Guarantor, regardless of Lender’s actual notice of Guarantor’s death or incapacity. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke this Guaranty in the same manner in which Guarantor might have revoked it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, shall not affect the liability of Guarantor under this Guaranty. Notwithstanding any provision to the contrary, it shall be an Event of Default under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan Documents. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations covered by this Guaranty, and it is specifically acknowledged and agreed by Guarantor that reductions in the amount of the Obligations, even to zero dollars shall not constitute a termination of this Guaranty, unless and until all Obligations have been fully and finally paid and satisfied, Lender has no further commitment to loan funds to Borrower, and all other obligations of Guarantor under this Guaranty have been performed in full.

Appears in 5 contracts

Samples: Limited Guaranty, Limited Guaranty (Vista Proppants & Logistics Inc.), Limited Guaranty (Vista Proppants & Logistics Inc.)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by Lender, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations Indebtedness incurred, committed, or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be delivered to Lender at the address of Lender listed below or such other place as Lender may designate in writing. This Guaranty may be revoked only with respect to the Obligations Indebtedness incurred or contracted by Borrower, or acquired or committed to by Lender after the date on which written notice of revocation is actually received by Lender. No notice of revocation hereof shall be effective as to any ObligationsIndebtedness: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired or committed to by Lender, prior to receipt of such notice; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement or a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lender; or (d) renewals, extensions, consolidations, substitutions, and refinancings of the foregoing. Guarantor waives notice of revocation given by any other guarantor of the ObligationsIndebtedness. If Guarantor is an individual, this Guaranty shall bind the estate of Guarantor as to Obligations Indebtedness created both before and after the death or incapacity of Guarantor, regardless of Lender’s actual notice of Guarantor’s death or incapacity. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke this Guaranty in the same manner in which Guarantor might have revoked it and with the same effect. Release of any other guarantor of the ObligationsIndebtedness, or termination or revocation of any other guaranty of the ObligationsIndebtedness, shall not affect the liability of Guarantor under this Guaranty. Notwithstanding any provision to the contrary, it shall be an Event of Default under the Loan Agreement if Guarantor revokes, revokes or disputes the validity of or liability under, under this Guaranty or any of the Loan Documents. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is specifically acknowledged and agreed by Guarantor that reductions in the amount of the ObligationsIndebtedness, even to zero dollars shall not constitute a termination of this Guaranty, unless and until all Indebtedness has been fully and finally paid and satisfied, Lender has no further commitment to loan funds to Borrower, and all other obligations of Guarantor under this Guaranty have been performed in full.

Appears in 5 contracts

Samples: Unlimited Guaranty, Unlimited Guaranty (USMD Holdings, Inc.), Unlimited Guaranty (USMD Holdings, Inc.)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by Lender, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s 's written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to the Obligations incurred advances or contracted by Borrower, or acquired or committed to new Indebtedness created after actual receipt by Lender after of Guarantor's written revocation. For this purpose and without limitation, the date on term "new Indebtedness" does not include Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. This Guaranty will continue to bind Guarantor for all Indebtedness incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired Borrower or committed to by Lender, Lender prior to receipt of such notice; (c) now existing Guarantor's written notice of revocation, including any extensions, renewals, substitutions or hereafter created pursuant to or evidenced by modifications of the Loan Agreement or a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lender; or (d) Indebtedness. All renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness granted after Guarantor's revocation, are contemplated under this Guaranty and, specifically will not be considered to be new Indebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the estate of Guarantor as to Obligations Indebtedness created both before and after the death or incapacity of Guarantor, regardless of Lender’s 's actual notice of Guarantor’s death or incapacity's death. Subject to the foregoing, Guarantor’s 's executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation received by Lender from any provision to one or more Guarantors shall not affect the contrary, it shall be an Event liability of Default any remaining Guarantors under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan DocumentsGuaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is specifically acknowledged and agreed by Guarantor that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), prior to written revocation of this Guaranty by Guarantor shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor's heirs, successors and assigns so long as any of the guaranteed Indebtedness remains unpaid and even though the Indebtedness guaranteed may from time to time be zero dollars ($0.00).

Appears in 4 contracts

Samples: Business Loan Agreement (Real Goods Trading Corp), Business Loan Agreement (Real Goods Trading Corp), Commercial Guaranty (Cardiodynamics Holdings LLC)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender Administrative Agent without the necessity of any acceptance by LenderAdministrative Agent or any other Secured Party, or any notice to Guarantor or to Borrower, and will continue in full force with respect to Guarantor until all Obligations incurrednone of the Guaranteed Indebtedness remains outstanding (other than contingent indemnification obligations not yet due and payable) and the Commitments have been terminated. This Guaranty is not revocable. If, committednotwithstanding the foregoing, or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all other obligations by Guarantor is given effect by a court of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guarantycompetent jurisdiction, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be delivered to Lender at the address of Lender listed below or no such other place as Lender may designate in writing. This Guaranty may be revoked only with respect to the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after the date on which written notice of revocation is actually received by Lender. No notice of revocation hereof shall be effective as to any ObligationsGuaranteed Indebtedness: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired or committed to by LenderAdministrative Agent or any other Secured Party, prior to receipt of such notice; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement a loan agreement or a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to LenderAdministrative Agent or any other Secured Party; or (d) renewals, extensions, consolidations, substitutions, and refinancings of the foregoing. Guarantor waives notice of revocation given by any other guarantor of the ObligationsGuaranteed Indebtedness. If Guarantor is an individualshall be liable, this Guaranty shall bind jointly and severally, with Borrower and any other guarantor of all or any part of the estate of Guarantor as to Obligations created both before Guaranteed Indebtedness and after the death or incapacity of Guarantor, regardless of Lender’s actual notice of Guarantor’s death or incapacity. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke this Guaranty in the same manner in which Guarantor might have revoked it and with the same effect. Release release of any other guarantor of the ObligationsGuaranteed Indebtedness, or termination or revocation of any other guaranty of the ObligationsGuaranteed Indebtedness, shall not affect the liability of Guarantor under this Guaranty. Notwithstanding any provision to the contrary, it shall be an Event of Default under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan Documents. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Guaranteed Indebtedness covered by this Guaranty, and it is specifically acknowledged and agreed by Guarantor that reductions in the amount of the ObligationsGuaranteed Indebtedness, even to zero dollars ($0.00), shall not constitute a termination of this Guaranty.

Appears in 4 contracts

Samples: Guaranty Agreement (Natural Grocers by Vitamin Cottage, Inc.), Credit Agreement (Natural Grocers by Vitamin Cottage, Inc.), Credit Agreement (Natural Grocers by Vitamin Cottage, Inc.)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by Lender, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor's other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s 's written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Lender's address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to the Obligations incurred advances or contracted by Borrower, or acquired or committed to new Indebtedness created after actual receipt by Lender after of Guarantor's written revocation. For this purpose and without limitation, the date on term "new Indebtedness" does not include Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. This Guaranty will continue to bind Guarantor for all Indebtedness incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired Borrower or committed to by Lender, Lender prior to receipt of such notice; (c) now existing Guarantor's written notice of revocation, including any extensions, renewals, substitutions or hereafter created pursuant to or evidenced by modifications of the Loan Agreement or a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lender; or (d) Indebtedness. All renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness granted after Guarantor's revocation, are contemplated under this Guaranty and, specifically will not be considered to be new Indebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor's estate of Guarantor as to Obligations Indebtedness created both before and after the Guarantor's death or incapacity of Guarantorincapacity, regardless of Lender’s 's actual notice of Guarantor’s death or incapacity's death. Subject to the foregoing, Guarantor’s 's executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it liability of any remaining Guarantors under this Guaranty. Guarantor's obligations under this Guaranty shall be an Event in addition to any of Default under the Loan Agreement if Guarantor revokesGuarantor's obligations, or disputes the validity of or liability under, this Guaranty or any of the Loan Documentsthem, under any other guaranties of Borrower's Indebtedness or any other person heretofore or hereafter given to Lender unless such other guaranties are modified or revoked in writing; and this Guarantor shall not, unless provided in this Guaranty, affect, invalidate, or supersede any such other guaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), prior to Guarantor's written revocation of this Guaranty shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor's heirs, successors and assigns so long as any of the guaranteed Indebtedness remains unpaid and even though the Indebtedness guaranteed may from time to time be zero dollars ($0.00).

Appears in 3 contracts

Samples: Business Loan Agreement (Amphastar Pharmaceuticals, Inc.), Business Loan Agreement (Amphastar Pharmaceuticals, Inc.), Business Loan Agreement (Amphastar Pharmaceuticals, Inc.)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by LenderXxxxxx, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, the Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor's other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s 's written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Xxxxxx's address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to new Indebtedness created after actual receipt by Xxxxxx of Guarantor's written revocation. For this purpose and without limitation, the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after term "new Indebtedness" does not include the date on Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. For this purpose and without limitation, "new Indebtedness" does not include all or part of the Indebtedness that is: incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired or committed to by Lender, Borrower prior to receipt of such noticerevocation; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement or incurred under a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lenderthat became binding before revocation; or (d) any renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor's estate of Guarantor as to Obligations the Indebtedness created both before and after the Guarantor's death or incapacity of Guarantorincapacity, regardless of Lender’s 's actual notice of Guarantor’s death or incapacity's death. Subject to the foregoing, Guarantor’s 's executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it shall be an Event liability of Default any remaining Guarantors under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan DocumentsGuaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor's heirs, successors and assigns so long as any of the Indebtedness remains unpaid and even though the Indebtedness may from time to time be zero dollars ($0.00).

Appears in 3 contracts

Samples: Continuing Guarantee of Payment and Performance (Lodging Fund REIT III, Inc.), Commercial Guaranty (Arts Way Manufacturing Co Inc), Commercial Guaranty (ERBA Diagnostics, Inc.)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by LenderXxxxxx, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, the Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor’s other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Xxxxxx’s address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to advances or new Indebtedness created after actual receipt by Xxxxxx of Guarantor’s written revocation. For this purpose and without limitation, the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after term “new Indebtedness” does not include the date on Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. This Guaranty will continue to bind Guarantor for all the Indebtedness incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired Xxxxxxxx or committed to by Lender, Xxxxxx prior to receipt of such notice; (c) now existing Guarantor’s written notice of revocation, including any extensions, renewals, substitutions or hereafter created pursuant to or evidenced by modifications of the Loan Agreement or a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lender; or (d) Indebtedness. All renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness granted after Guarantor’s revocation, are contemplated under this Guaranty and, specifically will not be considered to be new Indebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor’s estate of Guarantor as to Obligations the Indebtedness created both before and after the Guarantor’s death or incapacity of Guarantorincapacity, regardless of Lender’s actual notice of Guarantor’s death or incapacitydeath. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it shall be an Event liability of Default any remaining Guarantors under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan DocumentsGuaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), prior to Guarantor’s written revocation of this Guaranty shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor’s heirs, successors and assigns so long as any of the Indebtedness remains unpaid and even though the Indebtedness may from time to time be zero dollars ($0.00).

Appears in 3 contracts

Samples: Commercial Guaranty (American Wagering Inc), Commercial Guaranty (American Wagering Inc), Commercial Guaranty (Northern Technologies International Corp)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by LenderLxxxxx, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, the Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor’s other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Lxxxxx’s address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to new Indebtedness created after actual receipt by Lxxxxx of Guarantor’s written revocation. For this purpose and without limitation, the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after term “new Indebtedness” does not include the date on Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. For this purpose and without limitation, “new Indebtedness” does not include all or part of the Indebtedness that is: incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired or committed to by Lender, Borrower prior to receipt of such noticerevocation; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement or incurred under a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lenderthat became binding before revocation; or (d) any renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor’s estate of Guarantor as to Obligations the Indebtedness created both before and after the Guarantor’s death or incapacity of Guarantorincapacity, regardless of Lender’s actual notice of Guarantor’s death or incapacitydeath. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it liability of any remaining Guarantors under this Guaranty. Guarantor’s obligations under this Guaranty shall be an Event in addition to any of Default under the Loan Agreement if Guarantor revokesGuarantor’s obligations, or disputes the validity of or liability under, this Guaranty or any of them, under any other guaranties of the Loan DocumentsIndebtedness or any other person heretofore or hereafter given to Lender unless such other guaranties are modified or revoked in writing; and this Guarantor shall not, unless provided in this Guaranty, affect, invalidate, or supersede any such other guaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor’s heirs, successors and assigns so long as any of the Indebtedness remains unpaid and even though the Indebtedness may from time to time be zero dollars ($0.00).

Appears in 3 contracts

Samples: Commercial Guaranty (Eaco Corp), Commercial Guaranty (Eaco Corp), Commercial Guaranty (Eaco Corp)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by Lender, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, or contracted before receipt by Lender of any notice of revocation indebtedness shall have been fully and finally paid and satisfied and all other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be delivered to Lender at the address of Lender listed below or such other place as Lender may designate in writing. This Guaranty may be revoked only with respect to the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after the date on which written notice of revocation is actually received by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired or committed to by Lender, prior to receipt of such notice; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement or a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lender; or (d) renewals, extensions, consolidations, substitutions, and refinancings of the foregoing. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this Guaranty shall bind the estate of Guarantor as to Obligations created both before and after the death or incapacity of Guarantor, regardless of Lender’s actual notice of Guarantor’s death or incapacity. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke this Guaranty in the same manner in which Guarantor might have revoked it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation received by Lender from any provision to one or more Guarantors shall not affect the contraryliability of any remaining Guarantors under this Guaranty. GUARANTOR'S AUTHORIZATION TO LENDER. Guarantor authorizes Lender, it shall be an Event of Default without notice or demand and without lessening Guarantor's liability under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan Documents. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations covered by this Guaranty, and it is specifically acknowledged and agreed by Guarantor that reductions in from time to time: (a) to make one or more additional secured or unsecured loans to Borrower, to lease equipment or other goods to Borrower, or otherwise to extend additional credit to Borrower; (b) to alter, compromise, renew, extend, accelerate, or otherwise change one or more times the amount time for payment or other terms of the ObligationsIndebtedness or any part of the Indebtedness, even Including Increases and decreases of the rate of Interest on the Indebtedness; extensions may be repeated and may be for longer than the original loan term; (c) to zero dollars release, substitute, agree not to sue, or deal with any one or more of Borrower's sureties, endorsers, ox xther guarantors on any terms or in any manner Lender may choose; (d) to determine how, when and what application of payments and credits shall not constitute a termination be made on the Indebtedness; (e) to apply such security and direct the order or manner of sale thereof, Including without Imitation, any nonjudicial sale permitted by the terms of the controlling security agreement or deed of trust, as Lender in its discretion may determine; (f) to sell, transfer, assign, or grant participations in all or any part of the Indebtedness; and (g) to assign or transfer this GuarantyGuaranty in whole or in part.

Appears in 3 contracts

Samples: Promissory Note (New Horizons Worldwide Inc), Promissory Note (New Horizons Worldwide Inc), Promissory Note (New Horizons Worldwide Inc)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by Lender, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, the Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor's other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s 's written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Lender's address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to the Obligations incurred or contracted by Borrower, or acquired or committed to new Indebtedness created after actual receipt by Lender after of Guarantor's written revocation. For this purpose and without limitation, the date on term "new Indebtedness" does not include the Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. For this purpose and without limitation, "new Indebtedness" does not include all or part of the Indebtedness that is: incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired or committed to by Lender, Borrower prior to receipt of such noticerevocation; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement or incurred under a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lenderthat became binding before revocation; or (d) any renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoing. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this Guaranty shall bind the estate of Guarantor as to Obligations created both before and after the death or incapacity of Guarantor, regardless of Lender’s actual notice of Guarantor’s death or incapacity. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke this Guaranty in the same manner in which Guarantor might have revoked it and with the same effectIndebtedness. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it liability of any remaining Guarantors under this Guaranty. Guarantor's obligations under this Guaranty shall be an Event in addition to any of Default under the Loan Agreement if Guarantor revokesGuarantor's obligations, or disputes the validity of or liability under, this Guaranty or any of them, under any other guaranties of the Loan DocumentsIndebtedness or any other person heretofore or hereafter given to Lender unless such other guaranties are modified or revoked in writing; and this Guarantor shall not, unless provided in this Guaranty, affect, invalidate, or supersede any such other guaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor so long as any of the Indebtedness remains unpaid and even though the Indebtedness may from time to time be zero dollars ($0.00). Notwithstanding the foregoing, this Guaranty shall terminate upon payment in full of the Indebtedness, termination of any commitments by Lender to extend additional credit under the Loan Agreement and termination of the Loan Agreement (in accordance with the terms of the Loan Agreement).

Appears in 3 contracts

Samples: Commercial Guaranty (OFS Capital Corp), Commercial Guaranty (OFS Capital Corp), Commercial Guaranty (OFS Capital Corp)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by LenderLxxxxx, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, the Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor’s other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Lxxxxx’s address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to advances or new Indebtedness created after actual receipt by Lxxxxx of Guarantor’s written revocation. For this purpose and without limitation, the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after term “new Indebtedness” does not include the date on Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due, This Guaranty will continue to bind Guarantor for all the Indebtedness incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired Borrower or committed to by Lender, Lender prior to receipt of such notice; (c) now existing Guarantor’s written notice of revocation, including any extensions, renewals, substitutions or hereafter created pursuant to or evidenced by modifications of the Loan Agreement or a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lender; or (d) Indebtedness. All renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness granted after Guarantor’s revocation, are contemplated under this Guaranty and, specifically will not be considered to be new Indebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor’s estate of Guarantor as to Obligations the Indebtedness created both before and after the Guarantor’s death or incapacity of Guarantorincapacity, regardless of Lender’s actual notice of Guarantor’s death or incapacitydeath. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it shall be an Event liability of Default any remaining Guarantors under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan DocumentsGuaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), prior to Guarantor’s written revocation of this Guaranty shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor’s heirs, successors and assigns so long as any of the Indebtedness remains unpaid and even though the Indebtedness may from time to time be zero dollars ($0.00).

Appears in 2 contracts

Samples: Commercial Guaranty (Wireless Ronin Technologies Inc), Commercial Guaranty (Wireless Ronin Technologies Inc)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by Lender, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, the Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor's other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s 's written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Lender's address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to the Obligations incurred advances or contracted by Borrower, or acquired or committed to new Indebtedness created after actual receipt by Lender after of Guarantor's written revocation. For this purpose and without limitation, the date on term "new Indebtedness" does not include the Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. This Guaranty will continue to bind Guarantor for all the Indebtedness incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired Borrower or committed to by Lender, Lender prior to receipt of such notice; (c) now existing Guarantor's written notice of revocation, including any extensions, renewals, substitutions or hereafter created pursuant to or evidenced by modifications of the Loan Agreement or a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lender; or (d) Indebtedness. All renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness granted after Guarantor's revocation, are contemplated under this Guaranty and, specifically will not be considered to be new Indebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor's estate of Guarantor as to Obligations the Indebtedness created both before and after the Guarantor's death or incapacity of Guarantorincapacity, regardless of Lender’s 's actual notice of Guarantor’s death or incapacity's death. Subject to the foregoing, Guarantor’s 's executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it shall be an Event liability of Default any remaining Guarantors under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan DocumentsGuaranty. It is Is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), prior to Guarantor's written revocation of this Guaranty shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor's heirs, successors and assigns so long as any of the Guarantor's Share of the Indebtedness remains unpaid and even though the Guarantor's Share of the Indebtedness may from time to time be zero dollars ($0.00).

Appears in 2 contracts

Samples: Commercial Guaranty (ProUroCare Medical Inc.), Commercial Guaranty (ProUroCare Medical Inc.)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by Lender, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, or contracted before receipt by Lender of any notice of revocation Indebtedness shall have been fully and finally paid and satisfied and all other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be delivered to Lender at the address of Lender listed below or such other place as Lender may designate in writing. This Guaranty may be revoked only with respect to the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after the date on which written notice of revocation is actually received by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired or committed to by Lender, prior to receipt of such notice; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement or a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lender; or (d) renewals, extensions, consolidations, substitutions, and refinancings of the foregoing. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this Guaranty shall bind the estate of Guarantor as to Obligations created both before and after the death or incapacity of Guarantor, regardless of Lender’s actual notice of Guarantor’s death or incapacity. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke this Guaranty in the same manner in which Guarantor might have revoked it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation received by Lender from any provision to one or more Guarantors shall not affect the contrary, liability of any remaining Guarantors under this Guaranty. This Guaranty covers a revolving line of credit and it shall be an Event of Default under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan Documents. It is specifically anticipated that fluctuations may will occur in the aggregate amount of the Obligations covered by this Guaranty, Indebtedness owing from Borrower to Lender. Guarantor specifically acknowledges and it is specifically acknowledged and agreed by Guarantor agrees that reductions fluctuations in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), shall not constitute a termination of this Guaranty. Guarantor's liability under this Guaranty shall terminate only upon (a) termination in writing by Borrower and Lender of the line of credit, (b) payment of the indebtedness in full in legal tender, and (c) payment in full in legal tender of all other obligations of Guarantor under this Guaranty. GUARANTOR'S AUTHORIZATION TO LENDER. Guarantor authorizes Lender, without notice or demand and without lessening Guarantor's liability under this Guaranty, from time to time: (a) to make one or more additional secured or unsecured loans to Borrower, to lease equipment or other goods to Borrower, or otherwise to extend additional credit to Borrower, (b) to alter, compromise, renew, extend, accelerate, or otherwise change one or more times the time for payment or other terms of the Indebtedness or any part of the Indebtedness, including increases and decreases of the rate of interest on the Indebtedness; extensions may be repeated and may be for longer than the original loan term; (c) to take and hold security for the payment of this Guaranty or the Indebtedness, and exchange, enforce, waive, subordinate, fail or decide not to perfect, and release any such security, with or without the substitution of new collateral; (d) to release, substitute, agree not to xxx, or deal with any one or more of Borrower's sureties, endorsers, or other guarantors on any terms or in any manner Lender may choose; (e) to determine how, when and what application of payments and credits shall be made on the Indebtedness; (f) to apply such security and direct the order or manner of sale thereof, including without limitation, any nonjudicial sale permitted by the terms of the controlling security agreement or deed of trust, as Lender in its discretion may determine; (g) to sell, transfer, assign, or grant participations in all or any part of the Indebtedness; and (h) to assign or transfer this Guaranty in whole or part.

Appears in 2 contracts

Samples: Commercial Guaranty (Certified Diabetic Services Inc), Commercial Guaranty (Certified Diabetic Services Inc)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by LenderXxxxxx, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, the Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor's other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s 's written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Xxxxxx's address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to new Indebtedness created after actual receipt by Xxxxxx of Guarantor's written revocation. For this purpose and without limitation, the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after term "new Indebtedness" does not include the date on Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. For this purpose and without limitation, "new Indebtedness" does not include all or part of the Indebtedness that is: incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired or committed to by Lender, Borrower prior to receipt of such noticerevocation; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement or incurred under a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lenderthat became binding before revocation; or (d) any renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoing. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this Guaranty shall bind the estate of Guarantor as to Obligations created both before and after the death or incapacity of Guarantor, regardless of Lender’s actual notice of Guarantor’s death or incapacity. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke this Guaranty in the same manner in which Guarantor might have revoked it and with the same effectIndebtedness. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it liability of any remaining Guarantors under this Guaranty. Guarantor's obligations under this Guaranty shall be an Event in addition to any of Default under the Loan Agreement if Guarantor revokesGuarantor's obligations, or disputes the validity of or liability under, this Guaranty or any of them, under any other guaranties of the Loan DocumentsIndebtedness or any other person heretofore or hereafter given to Lender unless such other guaranties are modified or revoked in writing; and this Guarantor shall not, unless provided in this Guaranty, affect, invalidate, or supersede any such other guaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor so long as any of the Indebtedness remains unpaid and even though the Indebtedness may from time to time be zero dollars ($0.00). Notwithstanding the foregoing, this Guaranty shall terminate upon payment in full of the Indebtedness, termination of any commitments by Lender to extend additional credit under the Loan Agreement and termination of the Loan Agreement (in accordance with the terms of the Loan Agreement).

Appears in 2 contracts

Samples: Commercial Guaranty (OFS Capital Corp), Commercial Guaranty (OFS Capital Corp)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by Lender, or any notice to Guarantor or to Borrower, and will continue in full force until all Guaranteed Obligations incurred, committed, incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all other obligations of Guarantor under this Guaranty shall have been performed in full. If This Guaranty will continue to bind Guarantor elects for all Guaranteed Obligations incurred by Borrower or committed by Lender prior to revoke this Guaranty, Guarantor may only do so in writing. receipt of Guarantor’s written notice of revocation must be delivered to Lender at revocation, including any extensions, renewals, substitutions or modifications of the address of Lender listed below or such other place as Lender may designate in writingGuaranteed Obligations. This Guaranty may be revoked only with respect to the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after the date on which written notice of revocation is actually received by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired or committed to by Lender, prior to receipt of such notice; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement or a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lender; or (d) All renewals, extensions, consolidations, substitutions, substitutions and refinancings modifications of the foregoing. Guarantor waives notice of revocation given by any other guarantor of the Guaranteed Obligations granted after Guarantor’s revocation, are contemplated under this Guaranty and, specifically will not be considered to be new Guaranteed Obligations. If Guarantor is an individual, this This Guaranty shall bind the estate of Guarantor as to any Guaranteed Obligations created both before and after the death or incapacity of Guarantor, regardless of Lender’s actual notice of Guarantor’s death or incapacity. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke this Guaranty in the same manner in which Guarantor might have revoked it and with the same effectdeath. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Guaranteed Obligations shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation received by Lender from any provision to one or more Guarantors, shall not affect the contraryliability of any remaining Guarantor under this Guaranty. This Guaranty is binding upon Guarantor and Guarantor’s heirs, it shall be an Event of Default under the Loan Agreement if Guarantor revokesestate, or disputes the validity of or liability under, this Guaranty or successors and assigns so long as any of the Loan Documents. It is anticipated that fluctuations Guaranteed Obligations remain unpaid and even though the Guaranteed Obligations may occur in the aggregate amount of the Obligations covered by this Guaranty, and it is specifically acknowledged and agreed by Guarantor that reductions in the amount of the Obligations, even from time to time be zero dollars shall not constitute a termination of this Guaranty($0.00).

Appears in 2 contracts

Samples: Guaranty (Manufactured Housing Properties Inc.), Guaranty (Manufactured Housing Properties Inc.)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by Lender, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, the Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor's other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s 's written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Lender's address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to the Obligations incurred or contracted by Borrower, or acquired or committed to new Indebtedness created after actual receipt by Lender after of 'Guarantor's written revocation. For this purpose and without limitation, the date on term "new Indebtedness" does not include the Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. For this purpose and without limitation, "new Indebtedness" does not include all or part of the Indebtedness that is: incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired or committed to by Lender, Borrower prior to receipt of such noticerevocation; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement or incurred under a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lenderthat became binding before revocation; or (d) any renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor's estate of Guarantor as to Obligations the Indebtedness created both before and after the Guarantor's death or incapacity of Guarantorincapacity, regardless of Lender’s 's actual notice of Guarantor’s death or incapacity's death. Subject to the foregoing, Guarantor’s 's executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contraryliability of any remaining Guarantors under this Guaranty, it Guarantor's obligations under this Guaranty shall be an Event in addition to any of Default under the Loan Agreement if Guarantor revokesGuarantor's obligations, or disputes the validity of or liability under, this Guaranty or any of them, under any other guaranties of the Loan DocumentsIndebtedness or any other person heretofore or hereafter given to Lender unless such other guaranties are modified or revoked in writing; and this Guarantor shall not, unless provided in this -Guaranty, affect, invalidate, or supersede any such other guaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor's heirs, successors and assigns so long as any of the Indebtedness remains unpaid and even though the Indebtedness may from time to time be zero dollars ($0.00).

Appears in 2 contracts

Samples: Commercial Guaranty (Amexdrug Corp), Commercial Guaranty (Amexdrug Corp)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by LenderLxxxxx, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, the Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor’s other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Lxxxxx’s address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to new Indebtedness created after actual receipt by Lxxxxx of Guarantor’s written revocation. For this purpose and without limitation, the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after term “new Indebtedness” does not include the date on Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. For this purpose and without limitation, “new Indebtedness” does not include all or part of the Indebtedness that is: incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired or committed to by Lender, Borrower prior to receipt of such noticerevocation; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement or incurred under a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lenderthat became binding before revocation; or (d) any renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor’s estate of Guarantor as to Obligations the Indebtedness created both before and after the Guarantor’s death or incapacity of Guarantorincapacity, regardless of Lender’s actual notice of Guarantor’s death or incapacitydeath. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it shall be an Event liability of Default any remaining Guarantors under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan DocumentsGuaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor’s heirs, successors and assigns so long as any of the Indebtedness remains unpaid and even though the Indebtedness may from time to time be zero dollars ($0.00).

Appears in 2 contracts

Samples: Commercial Guaranty (Superior Drilling Products, Inc.), Commercial Guaranty (Superior Drilling Products, Inc.)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by Lender, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to the Obligations incurred advances or contracted by Borrower, or acquired or committed to new Indebtedness created after actual receipt by Lender after of Guarantor’s written revocation. For this purpose and without limitation, the date on term “new Indebtedness’ does not include Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. This Guaranty will continue to bind Guarantor for all indebtedness incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired Borrower or committed to by Lender, Lender prior to receipt of such notice; (c) now existing Guarantor’s written notice of revocation, including any extensions, renewals, substitutions or hereafter created pursuant to or evidenced by modifications of the Loan Agreement or a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lender; or (d) Indebtedness. All renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness granted after Guarantor’s revocation, are contemplated under this Guaranty and, specifically will not be considered to be new Indebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the estate of Guarantor as to Obligations Indebtedness created both before and after the death or incapacity of Guarantor, regardless of Lender’s actual notice of Guarantor’s death or incapacitydeath. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation received by Lender from any provision to one or more Guarantors shall not affect the contrary, it liability of any remaining Guarantors under this Guaranty. The obligations of Guarantor under this Guaranty shall be an Event in addition to any obligations of Default under the Loan Agreement if Guarantor revokesGuarantor, or disputes the validity of or liability under, this Guaranty or any of them, under any other guaranties of the Loan DocumentsIndebtedness of Borrower or any other person heretofore or hereafter given to Lender unless such other guaranties are modified or revoked in writing; and this Guaranty shall not, unless herein provided, affect, invalidate, or supersede any such other guaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is specifically acknowledged and agreed by Guarantor that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), prior to written revocation of this Guaranty by Guarantor shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor’s heirs, successors and assigns so long as any of the guaranteed Indebtedness remains unpaid and even though the Indebtedness guaranteed may from time to time be zero dollars ($0.00).

Appears in 1 contract

Samples: Business Loan Agreement (Nutech Digital Inc)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by Lender, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, the Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor’s other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Lender’s address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to the Obligations incurred or contracted by Borrower, or acquired or committed to new Indebtedness created after actual receipt by Lender after of Guarantor’s written revocation and Lender’s written acknowledgment of receipt. For this purpose and without limitation, the date on term “new Indebtedness” does not include the Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. For this purpose and without limitation, “new Indebtedness” does not include all or part of the Indebtedness that is: incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired or committed to by Lender, Borrower prior to receipt of such noticerevocation; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement or incurred under a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lenderthat became binding before revocation; or (d) any renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor’s estate of Guarantor as to Obligations the Indebtedness created both before and after the Guarantor’s death or incapacity of Guarantorincapacity, regardless of Lender’s actual notice of Guarantor’s death or incapacitydeath. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it shall be an Event liability of Default any remaining Guarantors under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan DocumentsGuaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor’s heirs, successors and assigns so long as any of the Indebtedness remains unpaid and even though the Indebtedness may from time to time be zero dollars ($0.00).

Appears in 1 contract

Samples: Commercial Guaranty (Vista Proppants & Logistics Inc.)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by Lender, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, the Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor’s other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Lender’s address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to the Obligations incurred or contracted by Borrower, or acquired or committed to new Indebtedness created after actual receipt by Lender after of Guarantor’s written revocation. For this purpose and without limitation, the date on term “new Indebtedness” does not include the Indebtedness which written at the lime of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. For this purpose and without limitation, “new Indebtedness” does not include all or part of the Indebtedness that is: incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired or committed to by Lender, Borrower prior to receipt of such noticerevocation; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement or incurred under a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lenderthat became binding before revocation; or (d) any renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor’s estate of Guarantor as to Obligations the Indebtedness created both before and after the Guarantor’s death or incapacity of Guarantorincapacity, regardless of Lender’s actual notice of Guarantor’s death or incapacitydeath. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it shall be an Event liability of Default any remaining Guarantors under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan DocumentsGuaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor’s heirs, successors and assigns so long as any of the Indebtedness remains unpaid and even though the Indebtedness may from time to time be zero dollars ($0.00).

Appears in 1 contract

Samples: Business Loan Agreement (AmpliTech Group, Inc.)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by Lender, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s 's written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to the Obligations incurred advances or contracted by Borrower, or acquired or committed to new Indebtedness created after actual receipt by Lender after of Guarantor's written revocation. For this purpose and without limitation, the date on term "new Indebtedness" does not include Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. This Guaranty will continue to bind Guarantor for all Indebtedness incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired Borrower or committed to by Lender, Lender prior to receipt of such notice; (c) now existing Guarantor's written notice of revocation, including any extensions, renewals, substitutions or hereafter created pursuant to or evidenced by modifications of the Loan Agreement or a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lender; or (d) Indebtedness. All renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness granted after Guarantor's revocation, are contemplated under this Guaranty and, specifically will not be considered to be new Indebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the estate of Guarantor as to Obligations Indebtedness created both before and after the death or incapacity of Guarantor, regardless of Lender’s 's actual notice of Guarantor’s death or incapacity's death. Subject to the foregoing, Guarantor’s 's executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation received by Lender from any provision to one or more Guarantors shall not affect the contrary, it liability of any remaining Guarantors under this Guaranty. The obligations of Guarantor under this Guaranty shall be an Event in addition to any obligations of Default under the Loan Agreement if Guarantor revokesGuarantor, or disputes the validity of or liability under, this Guaranty or any of them, under any other guaranties of the Loan Documentsindebtedness of Borrower or any other person heretofore or hereafter given to Lender unless such other guaranties are modified or revoked in writing; and this Guaranty shall not, unless herein provided, affect, invalidate, or supersede any such other guaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is specifically acknowledged and agreed by Guarantor that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), prior to written revocation of this Guaranty by Guarantor shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor's heirs, successors and assigns so long as any of the guaranteed Indebtedness remains unpaid and even though the Indebtedness guaranteed may from time to time be zero dollars ($0.00).

Appears in 1 contract

Samples: Business Loan Agreement (U S Laboratories Inc)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by Lender, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor’s other obligations of Guarantor under this Guaranty Guarantee shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Lender’s address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to the Obligations incurred or contracted by Borrower, or acquired or committed to new Indebtedness created after actual receipt by Lender after of Guarantor’s written revocation. For this purpose and without limitation, the date on term “new Indebtedness” does not include the Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. For this purpose and without limitation, “new Indebtedness” does not include all or part of the Indebtedness that is: incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired or committed to by Lender, Borrower prior to receipt of such noticerevocation; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement or incurred under a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lenderthat became binding before revocation; or (d) any renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor’s estate of Guarantor as to Obligations the Indebtedness created both before and after the Guarantor’s death or incapacity of Guarantorincapacity, regardless of Lender’s actual notice of Guarantor’s death or incapacitydeath. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it shall be an Event liability of Default any remaining Guarantors under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan DocumentsGuaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor’s heirs, successors and assigns so long as any of the Indebtedness remains unpaid and even though the Indebtedness may from time to time be zero dollars ($0.00).

Appears in 1 contract

Samples: Business Loan Agreement (Torotel Inc)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by LenderXxxxxx, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, the Indebtedness incurred or contracted before receipt by Lender Xxxxxx of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor's other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s 's written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Xxxxxx's address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to new Indebtedness created after actual receipt by Xxxxxx of Guarantor's written revocation. For this purpose and without limitation, the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after term "new Indebtedness" does not include the date on Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. For this purpose and without limitation, "new Indebtedness" does not include all or part of the Indebtedness that is: incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired or committed to by Lender, Borrower prior to receipt of such noticerevocation; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement or incurred under a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lenderthat became binding before revocation; or (d) any renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor's estate of Guarantor as to Obligations the Indebtedness created both before and after the Guarantor's death or incapacity of Guarantorincapacity, regardless of Lender’s 's actual notice of Guarantor’s death or incapacity's death. Subject to the foregoing, Guarantor’s 's executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it shall be an Event liability of Default any remaining Guarantors under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan DocumentsGuaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor's heirs, successors and assigns so long as any of the Indebtedness remains unpaid and even though the Indebtedness may from time to time be zero dollars ($0.00).

Appears in 1 contract

Samples: Commercial Guaranty (Macc Private Equities Inc)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by LenderXxxxxx, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, the Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor's other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s 's written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Xxxxxx's address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to new Indebtedness created after actual receipt by Xxxxxx of Guarantor's written revocation. For this purpose and without limitation, the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after term "new Indebtedness" does not include the date on Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. For this purpose and without limitation, "new Indebtedness" does not include all or part of the Indebtedness that is: incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired or committed to by Lender, Borrower prior to receipt of such noticerevocation; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement or incurred under a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lenderthat became binding before revocation; or (d) any renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor's estate of Guarantor as to Obligations the Indebtedness created both before and after the Guarantor's death or incapacity of Guarantorincapacity, regardless of Lender’s 's actual notice of Guarantor’s death or incapacity's death. Subject to the foregoing, Guarantor’s 's executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it shall be an Event liability of Default any remaining Guarantors under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan DocumentsGuaranty. It is anticipated that fluctuations may occur in In the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor's heirs, successors and assigns so long as any of the Indebtedness remains unpaid and even though the Indebtedness may from time to time be zero dollars ($0.00).

Appears in 1 contract

Samples: Commercial Guaranty (Paneltech International Holdings, Inc.)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender Purchasers without the necessity of any acceptance by Lendereach Purchaser, or any notice to Guarantor or to Borrowerthe Company, and will continue in full force until all Obligations incurred, committed, the Indebtedness incurred or contracted before receipt by Lender Purchasers of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor’s other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be delivered to Lender Purchasers, in accordance with Section 11.10 of the Note Purchase Agreement as applied to Purchasers. Written revocation of this Guaranty will apply only to new Indebtedness created after actual receipt by each Purchaser of Guarantor’s written revocation. For this purpose and without limitation, the term “new Indebtedness” does not include the Indebtedness which at the address time of Lender listed below or such other place as Lender may designate in writing. This Guaranty may be revoked only with respect to the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after the date on which written notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. For this purpose and without limitation, “new Indebtedness” does not include all or part of the Indebtedness that is: incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired or committed to by Lender, Company prior to receipt of such noticerevocation; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement or incurred under a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lenderthat became binding before revocation; or (d) renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoing. Guarantor waives notice Indebtedness or, for the avoidance of revocation given by any other guarantor of the Obligations. If Guarantor doubt, is an individual, this Guaranty shall bind the estate of Guarantor incurred as to Obligations created both before and after the death or incapacity of Guarantor, regardless of Lender’s actual notice of Guarantor’s death or incapacity. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke this Guaranty interest paid in the same manner kind in which Guarantor might have revoked it and accordance with the same effectNote Purchase Agreement. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Purchasers receive from any provision to the contrary, it shall be an Event of Default under the Loan Agreement if Guarantor revokes, one or disputes the validity of or liability under, this Guaranty or any of the Loan Documents. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations covered by this Guaranty, and it is specifically acknowledged and agreed by Guarantor that reductions in the amount of the Obligations, even to zero dollars more Guarantors shall not constitute a termination affect the liability of any remaining Guarantors under this Guaranty.

Appears in 1 contract

Samples: Guaranty (Westmoreland Coal Co)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by LenderXxxxxx, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor’s other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Xxxxxx’s address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to advances or new Indebtedness created after actual receipt by Xxxxxx of Guarantor’s written revocation. For this purpose and without limitation, the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after term “new Indebtedness” does not include Indebtedness which at the date on which written time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. This Guaranty will continue to bind Guarantor for all Indebtedness incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired Borrower or committed to by Lender, Lender prior to receipt of such notice; (c) now existing Guarantor’s written notice of revocation, including any extensions, renewals, substitutions or hereafter created pursuant to or evidenced by modifications of the Loan Agreement or a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lender; or (d) Indebtedness. All renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness granted after Guarantor’s revocation, are contemplated under this Guaranty and, specifically will not be considered to be new Indebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor’s estate of Guarantor as to Obligations Indebtedness created both before and after the Guarantor’s death or incapacity of Guarantorincapacity, regardless of Lender’s actual notice of Guarantor’s death or incapacitydeath. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it shall be an Event liability of Default any remaining Guarantors under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan DocumentsGuaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), prior to Guarantor’s written revocation of this Guaranty shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor’s heirs, successors and assigns so long as any of the guaranteed indebtedness remains unpaid and even though the Indebtedness guaranteed may from time to time be zero dollars ($0.00).

Appears in 1 contract

Samples: Commercial Guaranty (Natrol Inc)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender Company without the necessity of any acceptance by LenderCompany, or any notice to Guarantor or to BorrowerMerchant, and will continue in full force until all Obligations incurred, committed, the Indebtedness incurred or contracted before one hundred eighty (180) days after receipt by Lender Company of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor’s other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be delivered mailed to Lender Company, by certified mail, at the Company’s address of Lender listed below above or such other place as Lender Company may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to new Indebtedness created after one hundred eighty (180) days after actual receipt by Company of Guarantor’s written revocation. For this purpose and without limitation, the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after term “new Indebtedness” does not include the date on indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined, or not due and which later becomes absolute, liquidated, determined, or due. For this purpose and without limitation, “new Indebtedness” does not include all or part of the Indebtedness that is: incurred by Lender. No Merchant prior to one hundred eighty (180) days after receipt of the notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such noticerevocation; (b) incurred or contracted by Borrower, or acquired or committed to by Lender, prior to receipt of such notice; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement or under a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lenderthat became binding before revocation; or (d) any renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoing. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this Guaranty shall bind the estate of Guarantor as to Obligations created both before and after the death or incapacity of Guarantor, regardless of Lender’s actual notice of Guarantor’s death or incapacity. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke this Guaranty in the same manner in which Guarantor might have revoked it and with the same effectIndebtedness. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of the Guarantor under this Guaranty. Notwithstanding A revocation that Company receives from any provision to one or more Guarantors shall not affect the contrary, it shall be an Event liability of Default any remaining Guarantors under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan DocumentsGuaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations covered by this Guaranty, and it is specifically acknowledged and agreed by Guarantor that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor’s heirs, successors, and assigns so long as any of the Indebtedness remains unpaid and even though the Indebtedness may from time to time be zero dollars ($0.00).

Appears in 1 contract

Samples: Commercial Guaranty (Helios & Matheson Analytics Inc.)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by LenderLxxxxx, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor’s other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Lxxxxx’s address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to advances or new Indebtedness created after actual receipt by Lxxxxx of Guarantor’s written revocation. For this purpose and without limitation, the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after term “new Indebtedness” does not include Indebtedness which at the date on which written time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. This Guaranty will continue to bind Guarantor for all Indebtedness incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired Borrower or committed to by Lender, Lender prior to receipt of such notice; (c) now existing Guarantor’s written notice of revocation, including any extensions, renewals, substitutions or hereafter created pursuant to or evidenced by modifications of the Loan Agreement or a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lender; or (d) Indebtedness. All renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness granted after Guarantor’s revocation, are contemplated under this Guaranty and, specifically will not be considered to be new Indebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor’s estate of Guarantor as to Obligations Indebtedness created both before and after the Guarantors death or incapacity of Guarantorincapacity, regardless of Lender’s actual notice of Guarantor’s death or incapacitydeath. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it shall be an Event liability of Default any remaining Guarantors under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan DocumentsGuaranty. It is It’s anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars shall not constitute a termination ($0.00), prior to Guarantor’s written revocation of this Guaranty.Guaranty shall not

Appears in 1 contract

Samples: Commercial Guaranty (Synergetics Usa Inc)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by LenderLxxxxx, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, the Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor’s other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Lxxxxx’s address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to advances or new Indebtedness created after actual receipt by Lxxxxx of Guarantor’s written revocation. For this purpose and without limitation, the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after term “new Indebtedness” does not include the date on Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. This Guaranty will continue to bind Guarantor for all the Indebtedness incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired Bxxxxxxx or committed to by Lender, Lxxxxx prior to receipt of such notice; (c) now existing Guarantor’s written notice of revocation, including any extensions, renewals, substitutions or hereafter created pursuant to or evidenced by modifications of the Loan Agreement or a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lender; or (d) Indebtedness. All renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness granted after Guarantor’s revocation, are contemplated under this Guaranty and, specifically will not be considered to be new Indebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor’s estate of Guarantor as to Obligations the Indebtedness created both before and after the Guarantor’s death or incapacity of Guarantorincapacity, regardless of Lender’s actual notice of Guarantor’s death or incapacitydeath. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it shall be an Event liability of Default any remaining Guarantors under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan DocumentsGuaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), prior to Guarantor’s written revocation of this Guaranty shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor’s heirs, successors and assigns so long as any of the Guarantor’s S hare of the Indebtedness remains unpaid and even though the Guarantor’s Share of the Indebtedness may from time to time be zero dollars ($0.00).

Appears in 1 contract

Samples: Commercial Guaranty (Wireless Ronin Technologies Inc)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by LenderLxxxxx, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor's other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s 's written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Lxxxxx's address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to advances or new Indebtedness created after actual receipt by Lxxxxx of Guarantor's written revocation. For this purpose and without limitation, the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after term "new indebtedness" does not include Indebtedness which at the date on which written time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. This Guaranty will continue to bind Guarantor for all indebtedness incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired Bxxxxxxx or committed to by Lender, Lender prior to receipt of such notice; (c) now existing Guarantor's written notice of revocation, including any extensions, renewals, substitutions or hereafter created pursuant to or evidenced by modifications of the Loan Agreement or a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lender; or (d) Indebtedness. All renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingindebtedness granted after Guarantor's revocation, are contemplated under this Guaranty and, specifically will not be considered to be new Indebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor's estate of Guarantor as to Obligations Indebtedness created both before and after the Guarantor's death or incapacity of Guarantorincapacity, regardless of Lender’s Lxxxxx's actual notice of Guarantor’s death or incapacity's death. Subject to the foregoing, . Guarantor’s 's executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it shall be an Event liability of Default any remaining Guarantors under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan DocumentsGuaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), prior to Guarantor's written revocation of this Guaranty shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor's heirs, successors and assigns so long as any of the guaranteed indebtedness remains unpaid and even though the indebtedness guaranteed may from time to time be zero dollars ($0.00).

Appears in 1 contract

Samples: Business Loan Agreement (Century Casinos Inc /Co/)

DURATION OF GUARANTY. This The Guaranty will take effect when received by Lender without the necessity of any acceptance by LenderLxxxxx, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s 's written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of the Guaranty may be revoked will apply only with respect to advances or new Indebtedness created after actual receipt by Lxxxxx of Guarantor's written revocation. For this purpose and without limitation, the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after term "new Indebtedness" does not include Indebtedness which at the date on which written time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. This Guaranty will continue to bind Guarantor for all Indebtedness incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired Borrower or committed to by Lender, Lender prior to receipt of such notice; (c) now existing Guarantor's written notice of revocation, including any extensions, renewals, substitutions or hereafter created pursuant to or evidenced by modifications of the Loan Agreement or a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lender; or (d) Indebtedness. All renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness granted after Guarantor's revocation are contemplated under this Guaranty and, specifically will not be considered to be new Indebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the estate of Guarantor as to Obligations Indebtedness created both before and after the death or incapacity of Guarantor, regardless of Lender’s 's actual notice of Guarantor’s death or incapacity's death. Subject to the foregoing, Guarantor’s 's executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which the Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Guarantors shall not affect the liability of Guarantor any remaining Guarantors under this Guaranty. Notwithstanding any provision to the contrary, it The obligations of Guarantor under this Guaranty shall be an Event in addition to any obligations of Default under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of them, under any other guaranties of the Loan DocumentsIndebtedness of Borrower or any other person heretofor or hereafter given to Lender unless such other guaranties are modified or revoked in writing; and this Guaranty shall not, unless herein provided, affect, invalidate, or supersede any such other guaranties are modified or revoked in writing; and this Guaranty shall not, unless herein provided, affect, invalidate, or supersede any such other guaranty. It it is anticipated that fluctuations may occur in the aggregate amount of the Obligations indebtedness covered by this Guaranty, and it is specifically acknowledged and agreed by Guarantor that reductions in the amount of the ObligationsIndebtedness, even to zero dollars dollars($0.00), prior to written revocation of this Guaranty by Guarantor shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor's heirs, successors and assigns so long as any of the guaranteed Indebtedness remains unpaid and even though the Indebtedness guaranteed may from time to time be zero dollars ($0.00).

Appears in 1 contract

Samples: Guaranty Agreement (Penn Octane Corp)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by LenderXxxxxx, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, the Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor’s other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Xxxxxx’s address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to new Indebtedness created after actual receipt by Xxxxxx of Guarantor’s written revocation. For this purpose and without limitation, the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after term “new Indebtedness” does not Include the date on Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. For this purpose and without limitation, “new Indebtedness” does not include all or part of the Indebtedness that is: incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired or committed to by Lender, Borrower prior to receipt of such noticerevocation; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement or incurred under a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lenderthat became binding before revocation; or (d) any renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor’s estate of Guarantor as to Obligations the indebtedness created both before and after the Guarantor’s death or incapacity of Guarantorincapacity, regardless of Lender’s actual notice of Guarantor’s death or incapacitydeath. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in In which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it shall be an Event liability of Default any remaining Guarantors under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan DocumentsGuaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), shall not constitute a termination of this Guaranty, This Guaranty is binding upon Guarantor and Guarantor’s heirs, successors and assigns so long as any of the Indebtedness remains unpaid and even though the Indebtedness may from time to time be zero dollars ($0.00).

Appears in 1 contract

Samples: Commercial Guaranty (Adcare Health Systems Inc)

DURATION OF GUARANTY. This Guaranty will take xxxx effect when received by Lender without the necessity of any nay acceptance by Lender, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all Guarantor's other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. , Guarantor’s 's written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Lender's address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to the Obligations incurred advances or contracted by Borrower, or acquired or committed to new Indebtedness created after actual receipt by Lender after of Guarantor's written revocation. For this purpose and without limitation, the date on term "new Indebtedness" does not include Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. This Guaranty will continue to bind Guarantor for all Indebtedness incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired Borrower or committed to by Lender, Lender prior to receipt of such notice; (c) now existing Guarantor's written notice of revocation, including any extensions, renewals, substitutions or hereafter created pursuant to or evidenced by modifications of the Loan Agreement or a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lender; or (d) Indebtedness. All renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness granted after Guarantor's revocation, are contemplated under this Guaranty and, specifically will not be considered to be new Indebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor's estate of Guarantor as to Obligations Indebtedness created both before and after the Guarantor's death or incapacity of Guarantorincapacity, regardless of Lender’s 's actual notice of Guarantor’s death or incapacity's death. Subject to the foregoing, Guarantor’s 's executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might mind have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor the Guarantors under this Guaranty. Notwithstanding any provision to the contrary, it shall be an Event of Default under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan Documents. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even eve to zero dollars ($0.00), prior to Guarantor's written revocation of this Guaranty shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor's heirs, successors and assigns so long as any of the guaranteed Indebtedness remains unpaid and even though the Indebtedness guaranteed may from time to time be zero dollars ($0.00).

Appears in 1 contract

Samples: Business Loan Agreement (Petmed Express Inc)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by Lender, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, the Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor’s other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Lender’s address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to the Obligations incurred or contracted by Borrower, or acquired or committed to new Indebtedness created after actual receipt by Lender after of Guarantor’s written revocation. For this purpose and without limitation, the date on term “new Indebtedness” does not include the Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. For this purpose and without limitation, “new Indebtedness” does not include all or part of the Indebtedness that is: incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired or committed to by Lender, Borrower prior to receipt of such noticerevocation; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement or incurred under a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lenderthat became binding before revocation; or (d) any renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor’s estate of Guarantor as to Obligations the Indebtedness created both before and after the Guarantor’s death or incapacity of Guarantorincapacity, regardless of Lender’s actual notice of Guarantor’s death or incapacitydeath. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it shall be an Event liability of Default any remaining Guarantors under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan DocumentsGuaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor’s heirs, successors and assigns so long as any of the Indebtedness remains unpaid and even though the Indebtedness may from time to time be zero dollars ($0.00).

Appears in 1 contract

Samples: Commercial Guaranty (Torotel Inc)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender Bank without the necessity of any acceptance by LenderBank, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, Indebtedness incurred or contracted before receipt by Lender of Bank or any notice of revocation shall have been fully and finally paid and satisfied satisfied, and all other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s 's written notice of revocation must be delivered mailed to Lender Bank, by certified mail, at the address of Lender Bank listed below on the Confirmation Letter or such other place as Lender Bank may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to advances or new Indebtedness created after actual receipt by Bank of Guarantor's written revocation. For this purpose and without limitation, the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after term "new Indebtedness" does not include Indebtedness which at the date on which written time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. This Guaranty will continue to bind Guarantor for all Indebtedness incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted Borrxxxx xx committed by Borrower, or acquired or committed to by Lender, Bank prior to receipt of such notice; (c) now existing Guarantor's written notice of revocation, including any extensions, renewals, substitutions or hereafter created pursuant to or evidenced by the Loan Agreement or a commitment in existence prior to receipt modifications of such notice under which Borrower is or may become obligated to Lender; or (d) renewals, extensions, consolidations, substitutions, and refinancings of the foregoingIndebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the estate of Guarantor as to Obligations Indebtedness created both before and after the death or incapacity of Guarantor, regardless of Lender’s Bank's actual notice of Guarantor’s death or incapacity's death. Subject to the foregoing, Guarantor’s 's executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, Guarantor or termination or revocation of any other guaranty Guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation received by Bank from any provision to the contrary, it shall be an Event of Default under the Loan Agreement if Guarantor revokes, one or disputes the validity of or liability under, this Guaranty or any of the Loan Documents. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations covered by this Guaranty, and it is specifically acknowledged and agreed by Guarantor that reductions in the amount of the Obligations, even to zero dollars more Guarantor's shall not constitute a termination affect the liability of any remaining Guarantor(s) under this Guaranty.

Appears in 1 contract

Samples: Equipment Line Agreement (CRL Network Services Inc)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by LenderXxxxxx, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, the Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor’s other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must most be delivered mailed to Lender Lender, by certified mail, at the Xxxxxx’s address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to new Indebtedness created after actual receipt by Xxxxxx of Guarantor’s written revocation. For this purpose and without limitation, the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after term “new Indebtedness” does not include the date on Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. For this purpose and without limitation, “new Indebtedness” does not include all or part of the indebtedness that is: incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired or committed to by Lender, Borrower prior to receipt of such noticerevocation; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement or incurred under a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lenderthat became binding before revocation; or (d) any renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingindebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the hind Guarantor’s estate of Guarantor as to Obligations the indebtedness created both before and after the Guarantor’s death or incapacity of Guarantorincapacity, regardless of Lender’s actual notice of Guarantor’s death or incapacity. death, Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it shall be an Event liability of Default any remaining Guarantors under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan DocumentsGuaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor’s heirs, successors and assigns so long as any of the Guarantor’s Share of the indebtedness remains unpaid and even though the Guarantor’s Share of the Indebtedness may from time to time be zero dollars ($0.00).

Appears in 1 contract

Samples: Commercial Guaranty (Prospect Acquisition Corp)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by LenderXxxxxx, or any notice to Guarantor or to Borrower, and will continue in full force until all Guaranteed Obligations incurred, committed, incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all other obligations of Guarantor under this Guaranty shall have been performed in full. If This Guaranty will continue to bind Guarantor elects for all Guaranteed Obligations incurred by Xxxxxxxx or committed by Lender prior to revoke this Guaranty, Guarantor may only do so in writing. receipt of Guarantor’s written notice of revocation must be delivered to Lender at revocation, including any extensions, renewals, substitutions or modifications of the address of Lender listed below or such other place as Lender may designate in writingGuaranteed Obligations. This Guaranty may be revoked only with respect to the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after the date on which written notice of revocation is actually received by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired or committed to by Lender, prior to receipt of such notice; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement or a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lender; or (d) All renewals, extensions, consolidations, substitutions, substitutions and refinancings modifications of the foregoing. Guarantor waives notice of revocation given by any other guarantor of the Guaranteed Obligations granted after Guarantor’s revocation, are contemplated under this Guaranty and, specifically will not be considered to be new Guaranteed Obligations. If Guarantor is an individual, this This Guaranty shall bind the estate of Guarantor as to any Guaranteed Obligations created both before and after the death or incapacity of Guarantor, regardless of Lender’s actual notice of Guarantor’s death or incapacity. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke this Guaranty in the same manner in which Guarantor might have revoked it and with the same effectdeath. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Guaranteed Obligations shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation received by Lender from any provision to one or more Guarantors, shall not affect the contraryliability of any remaining Guarantor under this Guaranty. This Guaranty is binding upon Guarantor and Guarantor’s heirs, it shall be an Event of Default under the Loan Agreement if Guarantor revokesestate, or disputes the validity of or liability under, this Guaranty or successors and assigns so long as any of the Loan Documents. It is anticipated that fluctuations Guaranteed Obligations remain unpaid and even though the Guaranteed Obligations may occur in the aggregate amount of the Obligations covered by this Guaranty, and it is specifically acknowledged and agreed by Guarantor that reductions in the amount of the Obligations, even from time to time be zero dollars shall not constitute a termination of this Guaranty($0.00).

Appears in 1 contract

Samples: Guaranty (Manufactured Housing Properties Inc.)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by Lenderlender, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, the indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor's other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s 's written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Lender's address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to the Obligations incurred advances or contracted by Borrower, or acquired or committed to new indebtedness created after actual receipt by Lender after of Guarantor's written revocation. For this purpose and without limitation, the date on term "new indebtedness" does not include the indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. This Guaranty will continue to bind Guarantor for all the indebtedness incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired Borrower or committed to by Lender, Lender prior to receipt of such notice; (c) now existing Guarantor's written notice of revocation, including any extensions, renewals, substitutions or hereafter created pursuant to or evidenced by modifications of the Loan Agreement or a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lender; or (d) indebtedness. All renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingindebtedness granted after Guarantor's revocation, are contemplated under this Guaranty and, specifically will not be considered to be new indebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor's estate of Guarantor as to Obligations the indebtedness created both before and after the guarantor's death or incapacity of Guarantorincapacity, regardless of Lender’s 's actual notice of Guarantor’s death or incapacity's death. Subject to the foregoing, Guarantor’s 's executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty Guaranty of the Obligations, indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it shall be an Event liability of Default any remaining Guarantors under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan DocumentsGuaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations indebtedness covered by this byt5 his Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the Obligationsindebtedness, even to zero dollars ($0.00), prior to Guarantor's written revocation of this Guaranty shall not constitute a termination of this Guaranty. This Guaranty is binding upon guarantor and Guarantor's heirs, successors and assigns so long as any of the indebtedness remains unpaid and even though the indebtedness may from time to time be zero dollars ($0.00).

Appears in 1 contract

Samples: Commercial Guaranty (Elecsys Corp)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender Lender, without the necessity of any acceptance by Lender, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, or contracted before receipt by such time as Guarantor notifies Lender in writing of any notice of revocation shall have been fully and finally paid and satisfied and all other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects Guarantor's election to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s 's written notice of revocation must be delivered to Lender at the address branch or office of Lender as listed below above. Written revocation of this Guaranty shall apply only to new Indebtedness created after actual receipt by Lender of Guarantor's written revocation and shall not apply to to future advances authorized or such other place contemplated by the loan documents that do not cause Guarantor's liability to exceed Guarantor's maximum liability as Lender may designate in writingstated above. This Guaranty may be revoked only with respect will continue to the Obligations incurred or contracted by Borrowerbind Guarantor for all Indebtedness, including any extension, renewal, or acquired modifications thereof, incurred by Borrower or committed to by Lender after the date on which written notice of revocation is actually received by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired or committed to by Lender, prior to receipt of such notice; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement or a commitment in existence prior to receipt Guarantor's written notice of such notice under which Borrower is or may become obligated to Lender; or (d) renewalsrevocation. Renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingBorrower's Indebtedness granted after Guarantor's revocation are contemplated hereunder and will specifically not be considered new Indebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the estate of Guarantor as to Obligations Indebtedness created both before and after the death or incapacity of Guarantor, regardless of Lender’s 's actual notice of Guarantor’s 's death or incapacity. Subject to the foregoing, but Guarantor’s executor or 's executor, administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release Termination of any other guarantor this Guaranty by one of the Obligations, or termination or revocation of any other guaranty of the Obligations, undersigned shall not affect the liability of Guarantor under this Guaranty. Notwithstanding any provision to the contrary, it shall be an Event of Default under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any hereunder of the Loan Documentsremaining of the undersigned. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, Guaranty and it is specifically acknowledged and agreed by Guarantor that reductions in the amount of the ObligationsIndebtedness, even to zero dollars (0) dollars, prior to written revocation of this Guaranty by Guarantor shall not constitute a termination of this Guaranty. Guarantor's Authorization to Lender. Guarantor authorizes Lender, either before or after revocation hereof, without notice or demand and without affecting Guarantor's liability hereunder, from time to time: (a) to make any future advances to Borrower that are authorized or contemplated by the loan documents; (b) to make one or more additional secured or unsecured loans to Borrower, to lease equipment or other goods to Borrowers, or otherwise to extend additional credit to Borrower; (c) to alter, compromise, renew, extend, accelerate, or otherwise change one or more times the time for payment or other terms of the Indebtedness or any part of the Indebtedness, including increases and decreases of the rate of interest on the Indebtedness; extensions may be repeated and may be for longer than the original loan term; (d) to take and hold security for the payment of this Guaranty or the Indebtedness, and exchange, enforce, waive, fail or decide not to perfect, and release any such security, with or without the substitution of new collateral; (e) to release, substitute, agree not to xxx, or deal with any one or more of Borrower's sureties, endorsers, or other guarantors on any terms or in any manner Lender may choose; (f) to determine how, when and what application of payments and credits shall be made on the Indebtedness; (g) to apply such security and direct the order or manner of sale thereof, including without limitation, any nonjudicial sale permitted by the terms of the controlling security agreement or deed of trust, as Lender in its discretion may determine; (h) to accept from the Borrower a sum less than the balance owed on the original Indebtedness; (i) to apply payments received from the Borrower in partial satisfaction of the Indebtedness against that portion of the Indebtedness designated by the Borrower; (j) to sell, transfer, assign, or grant participations in all or any part of the Indebtedness; and (k) to assign or transfer this Guaranty in whole or in part.

Appears in 1 contract

Samples: Construction Loan Agreement (Qad Inc)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by LenderXxxxxx, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, the Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor’s other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Xxxxxx’s address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to new Indebtedness created after actual receipt by Xxxxxx of Guarantor’s written revocation. For this purpose and without limitation, the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after term “new lndebtedness” does not include the date on Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. For this purpose and without limitation, “new Indebtedness” does not include all or part of the Indebtedness that is: incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired or committed to by Lender, Borrower prior to receipt of such noticerevocation; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement or incurred under a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lenderthat became binding before revocation; or (d) any renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor’s estate of Guarantor as to Obligations the Indebtedness created both before and after the Guarantor’s death or incapacity of Guarantorincapacity, regardless of Lender’s actual notice of Guarantor’s death or incapacitydeath. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it liability of any remaining Guarantors under this Guaranty. Guarantor’s obligations under this Guaranty shall be an Event in addition to any of Default under the Loan Agreement if Guarantor revokesGuarantor’s obligations, or disputes the validity of or liability under, this Guaranty or any of them, under any other guaranties of the Loan DocumentsIndebtedness or any other person heretofore or hereafter given to Lender unless such other guaranties are modified or revoked in writing; and this Guarantor shall not, unless provided in this Guaranty, affect, invalidate, or supersede any such other guaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor’s heirs, successors and assigns so long as any of the Indebtedness remains unpaid and even though the Indebtedness may from time to time be zero dollars ($0.00).

Appears in 1 contract

Samples: Commercial Guaranty (Eaco Corp)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by Lender, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, the Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor's other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s 's written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Lender's address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to the Obligations incurred or contracted by Borrower, or acquired or committed to new Indebtedness created after actual receipt by Lender after of Guarantor's written revocation and Lender's written acknowledgment of receipt. For this purpose and without limitation, the date on term "new Indebtedness" does not include the Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. For this purpose and without limitation, "new Indebtedness" does not include all or part of the Indebtedness that is: incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such noticeBorrower prior lo revocation; (b) incurred or contracted by Borrower, or acquired or committed to by Lender, prior to receipt of such notice; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement or under a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lenderthat became binding before revocation; or (d) any renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor's estate of Guarantor as to Obligations the Indebtedness created both before and after the Guarantor's death or incapacity of Guarantorincapacity, regardless of Lender’s 's actual notice of Guarantor’s death or incapacity's death. Subject to the foregoing, Guarantor’s 's executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it shall be an Event liability of Default any remaining Guarantors under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan DocumentsGuaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor's heirs, successors and assigns so long as any of the Indebtedness remains unpaid and even though the Indebtedness may from time to time be zero dollars ($0.00).

Appears in 1 contract

Samples: Commercial Guaranty (Dougherty's Pharmacy, Inc.)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by LenderXxxxxx, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, the Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor’s other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Xxxxxx’s address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to new Indebtedness created after actual receipt by Xxxxxx of Guarantor’s written revocation. For this purpose and without limitation, the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after term “new Indebtedness” does not include the date on Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. For this purpose and without limitation, “new Indebtedness” does not include all or part of the Indebtedness that is: incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired or committed to by Lender, Borrower prior to receipt of such noticerevocation; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement or incurred under a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lenderthat became binding before revocation; or (d) any renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor’s estate of Guarantor as to Obligations the Indebtedness created both before and after the Guarantor’s death or incapacity of Guarantorincapacity, regardless of Lender’s actual notice of Guarantor’s death or incapacitydeath. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. , Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it shall be an Event liability of Default any remaining Guarantors under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan DocumentsGuaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor end Guarantor’s heirs, successors and assigns so long as any of the Indebtedness remains unpaid and even though the Indebtedness may from time to time be zero dollars ($0.00).

Appears in 1 contract

Samples: Commercial Guaranty (Adcare Health Systems, Inc)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by Lender, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s 's written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of the Guaranty may be revoked will apply only with respect to the Obligations incurred advances or contracted by Borrower, or acquired or committed to new indebtedness created after actual receipt by Lender after of Guarantor's written revocation. For this purpose and without limitation, the date on term "new indebtedness" does not include indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. This Guaranty will continue to bind Guarantor for indebtedness incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired Borrower or committed to by Lender, Lender prior to receipt of such notice; (c) now existing Guarantor's written notice of revocation, including any extension, renewals, substitutions or hereafter created pursuant to or evidenced by modifications of the Loan Agreement or a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lender; or (d) indebtedness. All renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingindebtedness granted after Guarantor's revocation, are contemplated under this Guaranty and, specifically will not be considered to be new indebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the estate of Guarantor as to Obligations indebtedness created both before and after the death or incapacity of Guarantor, regardless of Lender’s 's actual notice of Guarantor’s death or incapacity's death. Subject to the foregoing, Guarantor’s 's executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation received by Lender from any provision to one or more Guarantors shall not effect the contrary, it shall be an Event liability of Default any remaining Guarantors under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan DocumentsGuaranty. It is anticipated that fluctuations may occur in the this aggregate amount of the Obligations indebtedness covered by this Guaranty, and it is specifically acknowledged and agreed by Guarantor that reductions in the amount of the Obligationsindebtedness, even to zero dollars ($0.00), prior to written revocation of this Guaranty by Guarantor shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor's heirs, successors and assigns so long as any of the guaranteed indebtedness remains unpaid and even though the indebtedness guaranteed may from time to time be zero dollars ($0.00).

Appears in 1 contract

Samples: Loan and Security Agreement (Snowdance Inc)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by Lender, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s 's written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to the Obligations incurred advances or contracted by Borrower, or acquired or committed to new Indebtedness created after actual receipt by Lender after of Guarantor's written revocation. For this purpose and without limitation, the date on term "new Indebtedness" does not include Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. This Guaranty will continue to bind Guarantor for all Indebtedness incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired Borrower or committed to by Lender, Lender prior to receipt of such notice; (c) now existing Guarantor's written notice of revocation, including any extensions, renewals, substitutions or hereafter created pursuant to or evidenced by modifications of the Loan Agreement or a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lender; or (d) Indebtedness. All renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness granted after Guarantor's revocation, are contemplated under this Guaranty and, specifically will not be considered to be new Indebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the estate of Guarantor as to Obligations Indebtedness created both before and after the death or incapacity of Guarantor, regardless of Lender’s 's actual notice of Guarantor’s death or incapacity's death. Subject to the foregoing, Guarantor’s 's executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation received by Lender from any provision to one or more Guarantors shall not affect the contrary, it liability of any remaining Guarantors under this Guaranty. The obligations of Guarantor under this Guaranty shall be an Event in addition to any obligations of Default under the Loan Agreement if Guarantor revokesGuarantor, or disputes the validity of or liability under, this Guaranty or any of the Loan Documents. It is anticipated that fluctuations may occur in the aggregate amount them, under any other guaranties of the Obligations covered by Indebtedness of Borrower or any other person heretofore or hereafter given to Lender unless such other guaranties are modified or revoked in writing; and this GuarantyGuaranty shall not, and it is specifically acknowledged and agreed by Guarantor that reductions in the amount of the Obligationsunless herein provided, even to zero dollars shall not constitute a termination of this Guarantyaffect, invalidate, or supersede any such other guaranty. IT IS ANTICIPATED THAT FLUCTUATIONS MAY OCCUR IN THE AGGREGATE AMOUNT OF INDEBTEDNESS COVERED BY THIS GUARANTY, AND IT IS SPECIFICALLY ACKNOWLEDGED AND AGREED BY GUARANTOR THAT REDUCTIONS IN THE AMOUNT OF INDEBTEDNESS, EVEN TO ZERO DOLLARS ($0.00), PRIOR TO WRITTEN REVOCATION OF THIS GUARANTY BY GUARANTOR SHALL NOT CONSTITUTE A TERMINATION OF THIS GUARANTY. THIS GUARANTY IS BINDING UPON GUARANTOR AND GUARANTOR'S HEIRS, SUCCESSORS AND ASSIGNS SO LONG AS ANY OF THE GUARANTEED INDEBTEDNESS REMAINS UNPAID AND EVEN THOUGH THE INDEBTEDNESS GUARANTEED MAY FROM TIME TO TIME BE ZERO DOLLARS ($0.00). GUARANTOR'S AUTHORIZATION TO LENDER. GUARANTOR AUTHORIZES LENDER, EITHER BEFORE OR AFTER ANY REVOCATION HEREOF, WITHOUT NOTICE OR DEMAND AND WITHOUT LESSENING GUARANTOR'S LIABILITY UNDER THIS GUARANTY, FROM TIME TO TIME: (a) PRIOR TO REVOCATION AS SET FORTH ABOVE, TO MAKE ONE OR MORE ADDITIONAL SECURED OR UNSECURED LOANS TO BORROWER, TO LEASE EQUIPMENT OR OTHER GOODS TO BORROWER, OR OTHERWISE TO EXTEND ADDITIONAL CREDIT TO BORROWER; (b) TO ALTER, COMPROMISE, RENEW, EXTEND, ACCELERATE, OR OTHERWISE CHANGE ONE OR MORE TIMES THE TIME FOR PAYMENT OR OTHER TERMS OF THE INDEBTEDNESS OR ANY PART OF THE INDEBTEDNESS, INCLUDING INCREASES AND DECREASES OF THE RATE OF INTEREST ON THE INDEBTEDNESS; EXTENSIONS MAY BE REPEATED AND MAY BE FOR LONGER THAN THE ORIGINAL LOAN TERM; (c) TO TAKE AND HOLD SECURITY FOR THE PAYMENT OF THIS GUARANTY OR THE INDEBTEDNESS, AND EXCHANGE, ENFORCE, WAIVE, SUBORDINATE, FAIL OR DECIDE NOT TO PERFECT, AND RELEASE ANY SUCH SECURITY, WITH OR WITHOUT THE SUBSTITUTION OF NEW COLLATERAL; (d) TO RELEASE, SUBSTITUTE, AGREE NOT TO XXX, OR DEAL WITH ANY ONE OR MORE OF BORROWER'S SURETIES, ENDORSERS, OR OTHER GUARANTORS ON ANY TERMS OR IN ANY MANNER LENDER MAY CHOOSE; (e) TO DETERMINE HOW, WHEN AND WHAT APPLICATION OF PAYMENTS AND CREDITS SHALL BE MADE ON THE INDEBTEDNESS; (f) TO APPLY SUCH SECURITY AND DIRECT THE ORDER OR MANNER OF SALE THEREOF, INCLUDING WITHOUT LIMITATION, ANY NONJUDICIAL SALE PERMITTED BY THE TERMS OF THE CONTROLLING SECURITY AGREEMENT OR DEED OF TRUST, AS LENDER IN ITS DISCRETION MAY DETERMINE; (g) TO SELL, TRANSFER, ASSIGN, OR GRANT PARTICIPATIONS IN ALL OR ANY PART OF THE INDEBTEDNESS: AND (h) TO ASSIGN OR TRANSFER THIS GUARANTY IN WHOLE OR IN PART.

Appears in 1 contract

Samples: Commercial Guaranty (Faroudja Inc)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by Lender, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor's other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this the Guaranty, Guarantor may only do so in writing. Guarantor’s 's written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Lender's address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to the Obligations incurred advances or contracted by Borrower, or acquired or committed to new Indebtedness created after actual receipt by Lender after of Guarantor's written revocation. For this purpose and without limitation, the date on term "new Indebtedness" does not include Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. This Guaranty will continue to bind Guarantor for all Indebtedness incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired Borrower or committed to by Lender, Lender prior to receipt of such notice; (c) now existing Guarantor's written notice of revocation, including any extensions, renewals, substitutions or hereafter created pursuant to or evidenced by modifications of the Loan Agreement or a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lender; or (d) Indebtedness. All renewals, extensions, consolidations, substitutions, and refinancings modifications, of the foregoingIndebtedness granted after Guarantors revocations, are contemplated under this Guaranty and, specifically will not be considered to be new Indebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor's estate of Guarantor as to Obligations Indebtedness created both before and after the Guarantor's death or incapacity of Guarantorincapacity, regardless of Lender’s 's actual notice of Guarantor’s death or incapacity's death. Subject to the foregoing, Guarantor’s 's executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor the Guarantors under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it shall be an Event liability of Default any remaining Guarantors under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan DocumentsGuaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor aggress that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), prior to Guarantor's written revocation of this Guaranty shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor's heirs, successors and assigns so long as any of the guaranteed Indebtedness remains unpaid and even though the Indebtedness guaranteed may from time to time be zero dollars ($0.00).

Appears in 1 contract

Samples: Commercial Guaranty (Nationwide Financial Solutions, Inc.)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by LenderXxxxxx, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, the Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor’s other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Xxxxxx’s address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to new Indebtedness created after actual receipt by Xxxxxx of Guarantor’s written revocation and Xxxxxx’s written acknowledgment of receipt. For this purpose and without limitation, the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after term “new Indebtedness” does not include the date on Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. For this purpose and without limitation, “new Indebtedness” does not include all or part of the Indebtedness that is: incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired or committed to by Lender, Borrower prior to receipt of such noticerevocation; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement or incurred under a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lenderthat became binding before revocation; or (d) any renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor’s estate of Guarantor as to Obligations the Indebtedness created both before and after the Guarantor’s death or incapacity of Guarantorincapacity, regardless of Lender’s actual notice of Guarantor’s death or incapacitydeath. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it shall be an Event liability of Default any remaining Guarantors under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan DocumentsGuaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor’s heirs, successors and assigns so long as any of the Indebtedness remains unpaid and even though the Indebtedness may from time to time be zero dollars ($0.00).

Appears in 1 contract

Samples: Commercial Guaranty (Firstcity Financial Corp)

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DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by Lender, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, the Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor’s other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Lender’s address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to the Obligations incurred or contracted by Borrower, or acquired or committed to new Indebtedness created after actual receipt by Lender after of Guarantor’s written revocation. For this purpose and without limitation, the date on term “new Indebtedness” does not include the Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. For this purpose and without limitation, “new Indebtedness” does not include all or part of the Indebtedness that is: incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired or committed to by Lender, Borrower prior to receipt of such noticerevocation; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement or incurred under a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lenderthat became binding before revocation; or (d) any renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor’s estate of Guarantor as to Obligations the Indebtedness created both before and after the Guarantor’s death or incapacity of Guarantorincapacity, regardless of Lender’s actual notice of Guarantor’s death or incapacitydeath. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it shall be an Event liability of Default any remaining Guarantors under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan DocumentsGuaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in In the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), shall not constitute a termination of this Guaranty. This Guaranty Is binding upon Guarantor and Guarantor’s heirs, successors and assigns so long as any of the Indebtedness remains unpaid and even though the Indebtedness may from time to time be zero dollars ($0.00). GUARANTOR’S AUTHORIZATION TO LENDER. Guarantor authorizes Lender, either before or after any revocation hereof, without notice or demand and without lessening Guarantor’s liability under this Guaranty, from time to time: (A) prior to revocation as set forth above, to make one or more additional secured or unsecured loans to Borrower, to lease equipment or other goods to Borrower, or otherwise to extend additional credit to Borrower; (B) to alter, compromise, renew, extend, accelerate, or otherwise change one or more times the time for payment or other terms of the Indebtedness or any part of the Indebtedness, including increases and decreases of the rate of interest on the Indebtedness; extensions may be repeated and may be for longer than the original loan term; (C) to take and hold security for the payment of this Guaranty or the Indebtedness, and exchange, enforce, waive, subordinate, fail or decide not to perfect, and release any such security, with or without the substitution of new collateral; (D) to release, substitute, agree not to xxx, or deal with any one or more of Borrower’s sureties, endorsers, or other guarantors on any terms or in any manner Lender may choose; (E) to determine how, when and what application of payments and credits shall be made on the Indebtedness; (F) to apply such security and direct the order or manner of sale thereof, including without limitation, any nonjudicial sale permitted by the terms of the controlling security agreement or deed of trust, as Lender in its discretion may determine; (G) to sell, transfer, assign or grant participations in all or any part of the Indebtedness; and (H) to assign or transfer this Guaranty in whole or in part. GUARANTOR’S REPRESENTATIONS AND WARRANTIES. Guarantor represents and warrants to Lender that (A) no representations or agreements of any kind have been made to Guarantor which would limit or qualify in any way the terms of this Guaranty; (8) this Guaranty is executed at Borrower’s request and not at the request of Lender; (C} Guarantor has full power, right and authority to enter into this Guaranty; (D) the provisions of this Guaranty do not conflict with or result in a default under any agreement or other instrument binding upon Guarantor and do not result in a violation of any law, regulation, court decree or order applicable to Guarantor; (E) Guarantor has not and will not, without the prior written consent of Lender, sell, lease, assign, encumber, hypothecate, transfer, or otherwise dispose of all or substantially all of Guarantor’s assets, or any interest therein; (F) upon Lender’s request, Guarantor will provide to Lender financial and credit information in form acceptable to Lender, and all such financial information which currently has been, and all future financial information which will be provided to Lender is and will be true and correct in all material respects and fairly present Guarantor’s financial condition as of the dates the financial information is provided; (G) no material adverse change has occurred in Guarantor’s financial condition since the date of the most recent financial statements provided to Lender and no event has occurred which may materially adversely affect Guarantor’s financial condition; (H} no litigation, claim, investigation, administrative proceeding or similar action (including those for unpaid taxes) against Guarantor is pending or threatened; (I) Lender has made no representation to Guarantor as to the creditworthiness of Borrower; and (J} Guarantor has established adequate means of obtaining from Borrower on a continuing basis information regarding Borrower’s financial condition. Guarantor agrees to keep adequately informed from such means of any facts, events, or circumstances which might in any way affect Guarantor’s risks under this Guaranty, and Guarantor further agrees that, absent a request for information, Lender shall have no obligation to disclose to Guarantor any information or documents acquired by Lender in the course of its relationship with Borrower.

Appears in 1 contract

Samples: Business Loan Agreement (AmpliTech Group, Inc.)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by LenderXxxxxx, or any notice to Guarantor or to Borrower, and will xxxx continue in full force until all Obligations incurred, committed, the Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor’s other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Xxxxxx’s address of Lender listed below above or such other place as Lender may designate in writing, Written revocation of this Guaranty will apply only to new Indebtedness created after actual receipt by Xxxxxx of Guarantor’s written revocation. This Guaranty may be revoked only with respect to For this purpose arid without limitation, the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after teen “new Indebtedness” does not include the date on Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. For this purpose and without limitation, “new Indebtedness” does not include all or part of the Indebtedness that is incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired or committed to by Lender, Borrower prior to receipt of such noticerevocation; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement or incurred under a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lenderthat became binding before revocation; or (d) any renewals, extensions, consolidations, substitutions, and refinancings arid modifications of the foregoingIndebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor’s estate of Guarantor as to Obligations the Indebtedness created both before and after the Guarantor’s death or incapacity of Guarantorincapacity, regardless of Lender’s actual notice of Guarantor’s death or incapacitydeath. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked it terminated It and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it liability of any remaining Guarantors under this Guaranty. Guarantor’s obligations under this Guaranty shall be an Event in addition to any of Default under the Loan Agreement if Guarantor revokesGuarantor’s obligations, or disputes the validity of or liability under, this Guaranty or any of thorn, under any other guaranties of the Loan Documentsindebtedness or any other person heretofore or hereafter given to Lender unless such other guaranties are modified or revoked In writing; and this Guarantor shall riot, unless provided In this Guaranty, affect, Invalidate, or supersede any such other guaranty. It is Is anticipated that fluctuations may occur in In the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the Obligationsindebtedness, even to zero dollars ($0.00), shall not constitute a termination of this Guaranty. This Guaranty IS binding upon Guarantor and Guarantor’s heirs, successors and assigns so fang as any of the Indebtedness remains unpaid and even though the Indebtedness may from time to time be zero dollars ($0.00).

Appears in 1 contract

Samples: Commercial Guaranty (Prospect Acquisition Corp)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by Lender, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor's other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s 's written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Lender's address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to the Obligations incurred advances or contracted by Borrower, or acquired or committed to new Indebtedness created after actual receipt by Lender after of Guarantor's written revocation and Lender's written acknowledgment of receipt. For this purpose and without limitation, the date on term "new Indebtedness" does not include Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. This Guaranty will continue to bind Guarantor for all Indebtedness incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired Borrower or committed to by Lender, Lender prior to receipt of such notice; (c) now existing Guarantor's written notice of revocation, including any extensions, renewals, substitutions or hereafter created pursuant to or evidenced by modifications of the Loan Agreement or a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lender; or (d) Indebtedness. All renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness granted after Guarantor's revocation, are contemplated under this Guaranty and, specifically will not be considered to be new Indebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor's estate of Guarantor as to Obligations Indebtedness created both before and after the Guarantor's death or incapacity of Guarantorincapacity, regardless of Lender’s 's actual notice of Guarantor’s death or incapacity's death. Subject to the foregoing, Guarantor’s 's executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor or termination of any COMMERCIAL GUARANTY (CONTINUED) other guaranty of the ObligationsIndebtedness shall not affect the liability of Guarantor under this Guaranty. A revocation Lender receives from any one or more Guarantors shall not affect the liability of any remaining Guarantors under this Guaranty. Guarantor shall be liable, jointly and severally, with Borrower and any other guarantor of all or any part of the Indebtedness, and release of any other guarantor of all or any part of the Indebtedness, or termination or revocation of any other guaranty of all or any part of the ObligationsIndebtedness, shall not affect the liability of Guarantor under this Guaranty. Notwithstanding any provision to the contraryIT IS ANTICIPATED THAT FLUCTUATIONS MAY OCCUR IN THE AGGREGATE AMOUNT OF INDEBTEDNESS COVERED BY THIS GUARANTY, it shall be an Event of Default under the Loan Agreement if Guarantor revokesAND GUARANTOR SPECIFICALLY ACKNOWLEDGES AND AGREES THAT REDUCTIONS IN THE AMOUNT OF INDEBTEDNESS, or disputes the validity of or liability underEVEN TO ZERO DOLLARS ($0.00), this Guaranty or any of the Loan DocumentsPRIOR TO GUARANTOR'S WRITTEN REVOCATION OF THIS GUARANTY SHALL NOT CONSTITUTE A TERMINATION OF THIS GUARANTY. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations covered by this GuarantyTHIS GUARANTY IS BINDING UPON GUARANTOR AND GUARANTOR'S HEIRS, and it is specifically acknowledged and agreed by Guarantor that reductions in the amount of the Obligations, even to zero dollars shall not constitute a termination of this GuarantySUCCESSORS AND ASSIGNS SO LONG AS ANY OF THE GUARANTEED INDEBTEDNESS REMAINS UNPAID AND EVEN THOUGH THE INDEBTEDNESS GUARANTEED MAY FROM TIME TO TIME BE ZERO DOLLARS ($0.00).

Appears in 1 contract

Samples: Omnibus Addendum to Promissory Notes (Genitope Corp)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender Bank without the necessity of any acceptance by LenderBank, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, indebtedness incurred or contracted before receipt by Lender Bank of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor's other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s 's written notice of revocation must be delivered mailed to Lender Bank, by certified mail, at the Bank's address of Lender listed below above or such other place as Lender Bank may designate in writing. Written revocation of this Guaranty will apply only to advances or new indebtedness created after actual receipt by Bank of Guarantor's written revocation. For this purpose and without limitation, the tern1 "new indebtedness" does not include indebtedness which at the time of notice ofrevocation is contingent, unliquidated, undetennined or not due and which later becomes absolute, liquidated, determined or due. This Guaranty may be revoked only with respect will continue to the Obligations bind Guarantor for all indebtedness incurred or contracted by Borrower, or acquired Borrower or committed to by Lender after the date on which written notice of revocation is actually received by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired or committed to by Lender, Bank prior to receipt of such notice; (c) now existing Guarantor's written notice of revocation, including any extensions, renewals, substitutions or hereafter created pursuant to or evidenced by modifications of the Loan Agreement or a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lender; or (d) indebtedness. All renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoing. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individualindebtedness granted after Guarantor's revocation, are contemplated under this Guaranty shall bind the estate of Guarantor as and specifically will not be considered to Obligations created both before and after the death or incapacity of Guarantor, regardless of Lender’s actual notice of Guarantor’s death or incapacity. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke this Guaranty in the same manner in which Guarantor might have revoked it and with the same effectbe new indebtedness. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Bank receives from any provision to the contrary, it shall be an Event of Default under the Loan Agreement if Guarantor revokes, one or disputes the validity of or liability under, this Guaranty or any of the Loan Documents. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations covered by this Guaranty, and it is specifically acknowledged and agreed by Guarantor that reductions in the amount of the Obligations, even to zero dollars more Guarantors shall not constitute a termination affect the liability of any remaining Guarantors under this Guaranty.

Appears in 1 contract

Samples: Commercial Corporate Guaranty (Applied Blockchain, Inc.)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by Lender, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s 's written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to the Obligations incurred advances or contracted by Borrower, or acquired or committed to new indebtedness created after actual receipt by Lender after of Guarantor's written revocation. For this purpose and without limitation, the date on term "new Indebtedness" does not include Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. This Guaranty will continue to bind Guarantor for all Indebtedness incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired Borrower or committed to by Lender, Lender prior to receipt of such notice; (c) now existing Guarantor's written notice of revocation, including any extensions, renewals, substitutions or hereafter created pursuant to or evidenced by modifications of the Loan Agreement or a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lender; or (d) Indebtedness. All renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness granted after Guarantor's revocation, are contemplated under this Guaranty and, specifically will not be considered to be new Indebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the estate of Guarantor as to Obligations Indebtedness created both before and after the death or incapacity of Guarantor, regardless of Lender’s 's actual notice of Guarantor’s death or incapacity's death. Subject to the foregoing, Guarantor’s 's executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation received by Lender from any provision to one or more Guarantors shall not affect the contrary, it liability of any remaining Guarantors under this Guaranty. The obligations of Guarantor under this Guaranty shall be an Event in addition to any obligations of Default under the Loan Agreement if Guarantor revokesGuarantor, or disputes the validity of or liability under, this Guaranty or any of them, under any other guaranties of the Loan DocumentsIndebtedness of Borrower or any other person heretofore or hereafter given to Lender unless such other guaranties are modified or revoked in writing; and this Guaranty shall not, unless herein provided, affect, invalidate, or supersede any such other guaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations indebtedness covered by this Guaranty, and it is specifically acknowledged and agreed by Guarantor that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), prior to written revocation of this Guaranty by Guarantor shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor's heirs, successors and assigns so long as any of the guaranteed Indebtedness remains unpaid and even though the Indebtedness guaranteed may from time to time be zero dollars ($0.00).

Appears in 1 contract

Samples: Business Loan Agreement (U S Laboratories Inc)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by LenderXxxxxx, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, the Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor’s other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Xxxxxx’s address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to new Indebtedness created after actual receipt by Xxxxxx of Guarantor’s written revocation. For this purpose and without limitation, the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after term “new Indebtedness” does not include the date on Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. For this purpose and without limitation, “new Indebtedness” does not include all or part of the Indebtedness that is: incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired or committed to by Lender, Borrower prior to receipt of such noticerevocation; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement or incurred under a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lenderthat became binding before revocation; or (d) any renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor’s estate of Guarantor as to Obligations the Indebtedness created both before and after the Guarantor’s death or incapacity of Guarantorincapacity, regardless of Lender’s actual notice of Guarantor’s death or incapacitydeath. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it shall be an Event liability of Default any remaining Guarantors under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan DocumentsGuaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor’s heirs, successors and assigns so long as any of the Guarantor’s Share of the Indebtedness remains unpaid and even though the Guarantor’s Share of the Indebtedness may from time to time be zero dollars ($0.00).

Appears in 1 contract

Samples: Commercial Guaranty (Prospect Acquisition Corp)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by LenderXxxxxx, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, the indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor’s other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Xxxxxx’s address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to new indebtedness created after actual receipt by Xxxxxx of Guarantor’s written revocation. For this purpose and without limitation, the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after term “new indebtedness” does not include the date on indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due, For this purpose and without limitation, “new indebtedness” does not include all or part of the indebtedness that is: incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired or committed to by Lender, Borrower prior to receipt of such noticerevocation; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement or incurred under a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lenderthat became binding before revocation; or (d) any renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingindebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor’s estate of Guarantor as to Obligations the indebtedness created both before and after the Guarantor’s death or incapacity of Guarantorincapacity, regardless of Lender’s actual notice of Guarantor’s death or incapacitydeath. Subject to the foregoing, . Guarantor’s executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it shall be an Event liability of Default any remaining Guarantors under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan DocumentsGuaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the Obligationsindebtedness, even to zero dollars ($0.00), shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor’s heirs, successors and assigns so long as any of the indebtedness remains unpaid and even though the indebtedness may from time to time be zero dollars ($0.00).

Appears in 1 contract

Samples: Commercial Guaranty (Adcare Health Systems Inc)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by LenderXxxxxx, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, the indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor's other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s 's written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Xxxxxx's address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to advances or new Indebtedness created after actual receipt by Xxxxxx of Guarantor's written revocation. For this purpose and without limitation, the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after term “new Indebtedness” does not include the date on Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. This Guaranty will continue to bind Guarantor for all the Indebtedness incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired Xxxxxxxx or committed to by Lender, Xxxxxx prior to receipt of such notice; (c) now existing Guarantor's written notice of revocation, including any extensions, renewals, substitutions or hereafter created pursuant to or evidenced by modifications of the Loan Agreement or a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lender; or (d) Indebtedness. All renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness granted after Guarantor's revocation, are contemplated under this Guaranty and, specifically will not be considered to be new Indebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor's estate of Guarantor as to Obligations the Indebtedness created both before and after the Guarantor's death or incapacity of Guarantorincapacity, regardless of Lender’s 's actual notice of Guarantor’s death or incapacity's death. Subject to the foregoing, Guarantor’s 's executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it shall be an Event liability of Default any remaining Guarantors under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan DocumentsGuaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), prior to Guarantor's written revocation of this Guaranty shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor's heirs, successors and assigns so long as any of the Indebtedness remains unpaid and even though the Indebtedness may from time to time be zero dollars ($0.00).

Appears in 1 contract

Samples: Business Loan Agreement (Seawright Holdings Inc)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by Lender, or any notice to Guarantor Guarantors or to Borrower, and will continue in full force until all Obligations Indebtedness incurred, committed, or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all other obligations of Guarantor Guarantors under this Guaranty shall have been performed in full. If Guarantor elects Guarantors elect to revoke this Guaranty, Guarantor Guarantors may only do so in writing. Guarantor’s Guarantors' written notice of revocation must be delivered to Lender at the address of Lender listed below above or such other place as Lender may designate in writing. This Guaranty may be revoked only with respect to the Obligations Indebtedness incurred or contracted by Borrower, or acquired or committed to by Lender after the date on which written notice of revocation is actually received by Lender. No notice of revocation hereof shall be effective as to any ObligationsIndebtedness: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired or committed to by Lender, prior to receipt of such notice; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement a loan agreement or a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lender; or (d) renewals, extensions, consolidations, substitutions, and refinancings of the foregoing. Guarantor waives Guarantors waive notice of revocation given by any other guarantor of the ObligationsIndebtedness. If any Guarantor is an individual, this Guaranty shall bind the estate of Guarantor as to Obligations Indebtedness created both before and after the death or incapacity of Guarantor, regardless of Lender’s 's actual notice of Guarantor’s 's death or incapacity. Subject to the foregoing, Guarantor’s 's executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor Guarantors might have revoked terminated it and with the same effect. Release of any other guarantor of the ObligationsIndebtedness, or termination or revocation of any other guaranty of the ObligationsIndebtedness, shall not affect the liability of Guarantor Guarantors under this Guaranty. Notwithstanding any provision to the contrary, it shall be an Event of Default under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan Documents. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is specifically acknowledged and agreed by Guarantor Guarantors that reductions in the amount of the ObligationsIndebtedness, even to zero dollars shall not constitute a termination of this Guaranty.

Appears in 1 contract

Samples: Commercial Security Agreement (United Heritage Corp)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by LenderXxxxxx, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, the Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor’s other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Xxxxxx’s address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to new Indebtedness created after actual receipt by Xxxxxx of Guarantor’s written revocation. For this purpose and without limitation, the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after term new Indebtedness” does not include the date on Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. For this purpose and without limitation, “new Indebtedness” does not include all or part of the Indebtedness that is: incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired or committed to by Lender, Borrower prior to receipt of such noticerevocation; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement or incurred under a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lenderthat became binding before revocation; or (d) any renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor’s estate of Guarantor as to Obligations the Indebtedness created both before and after the Guarantor’s death or incapacity of Guarantorincapacity, regardless of Lender’s actual notice of Guarantor’s death or incapacitydeath. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it liability of any remaining Guarantors under this Guaranty. Guarantor’s obligations under this Guaranty shall be an Event in addition to any of Default under the Loan Agreement if Guarantor revokesGuarantor’s obligations, or disputes the validity of or liability under, this Guaranty or any of them, under any other guaranties of the Loan DocumentsIndebtedness or any other person heretofore or hereafter given to Lender unless such other guaranties are modified or revoked in writing; and this Guarantor shall not, unless provided in this Guaranty, affect, invalidate, or supersede any such other guaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor’s heirs, successors and assigns so long as any of the Indebtedness remains unpaid and even though the Indebtedness may from time to time be zero dollars ($0.00).

Appears in 1 contract

Samples: Commercial Guaranty (Prospect Acquisition Corp)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by LenderLxxxxx, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor’s other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Lxxxxx’s address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to advances or new Indebtedness created after actual receipt by Lxxxxx of Guarantor’s written revocation. For this purpose and without limitation, the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after term “new Indebtedness” does not include Indebtedness which at the date on which written time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. This Guaranty will continue to bind Guarantor for all Indebtedness incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired Borrower or committed to by Lender, Lender prior to receipt of such notice; (c) now existing Guarantor’s written notice of revocation, including any extensions, renewals, substitutions or hereafter created pursuant to or evidenced by modifications of the Loan Agreement or a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lender; or (d) Indebtedness. All renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness granted after Guarantor’s revocation, are contemplated under this Guaranty and, specifically will not be considered to be new Indebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor’s estate of Guarantor as to Obligations Indebtedness created both before and after the Guarantor’s death or incapacity of Guarantorincapacity, regardless of Lender’s actual notice of Guarantor’s death or incapacitydeath. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effectaffect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it shall be an Event liability of Default any remaining Guarantors under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan DocumentsGuaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars shall not constitute a termination ($0.00), prior to Guarantor’s written revocation of this Guaranty.Guaranty shall not

Appears in 1 contract

Samples: Commercial Guaranty (Synergetics Usa Inc)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender Bank without the necessity of any acceptance by LenderBank, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, indebtedness incurred or contracted before receipt by Lender Bank of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor’s other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be delivered mailed to Lender Bank, by certified mail, at the Bank’s address of Lender listed below above or such other place as Lender Bank may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to advances or new indebtedness created after actual receipt by Bank of Guarantor’s written revocation. For this purpose and without limitation, the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after term “new indebtedness” does not include indebtedness which at the date on which written time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. This Guaranty will continue to bind Guarantor for all indebtedness incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired Borrower or committed to by Lender, Bank prior to receipt of such notice; (c) now existing Guarantor’s written notice of revocation, including any extensions, renewals, substitutions or hereafter created pursuant to or evidenced by modifications of the Loan Agreement or a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lender; or (d) indebtedness. All renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoing. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individualindebtedness granted after Guarantor’s revocation, are contemplated under this Guaranty shall bind the estate of Guarantor as and specifically will not be considered to Obligations created both before and after the death or incapacity of Guarantor, regardless of Lender’s actual notice of Guarantor’s death or incapacity. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke this Guaranty in the same manner in which Guarantor might have revoked it and with the same effectbe new indebtedness. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Bank receives from any provision to the contrary, it shall be an Event of Default under the Loan Agreement if Guarantor revokes, one or disputes the validity of or liability under, this Guaranty or any of the Loan Documents. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations covered by this Guaranty, and it is specifically acknowledged and agreed by Guarantor that reductions in the amount of the Obligations, even to zero dollars more Guarantors shall not constitute a termination affect the liability of any remaining Guarantors under this Guaranty.

Appears in 1 contract

Samples: Commercial Corporate Guaranty (Applied Digital Corp.)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by LenderXxxxxx, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor’s other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Xxxxxx’s address of Lender listed below above or such other place as Lender may designate in writing, Written revocation of this Guaranty will apply only to advances or new indebtedness created after actual receipt by Xxxxxx of Guarantor’s written revocation. This Guaranty may be revoked only with respect to For this purpose and without limitation, the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after term “new Indebtedness” does not include Indebtedness which at the date on which written time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. This Guaranty will continue to bind Guarantor for all indebtedness incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired Xxxxxxxx or committed to by Lender, Lender prior to receipt of such notice; (c) now existing Guarantor’s written notice of revocation, including any extensions, renewals, substitutions or hereafter created pursuant to or evidenced by modifications of the Loan Agreement or a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lender; or (d) Indebtedness. All renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness granted after Guarantor’s revocation, are contemplated under this Guaranty and, specifically will not be considered to be new Indebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor’s estate of Guarantor as to Obligations Indebtedness created both before and after the Guarantor’s death or incapacity of Guarantorincapacity, regardless of Lender’s actual notice of Guarantor’s death or incapacitydeath. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it shall be an Event liability of Default any remaining Guarantors under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan DocumentsGuaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars (0.00), prior to Guarantor’s written revocation of this Guaranty shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor’s heirs, successors and assigns so long as any of the guaranteed Indebtedness remains unpaid and even though the Indebtedness guaranteed may from time to time be zero dollars ($0.00).

Appears in 1 contract

Samples: Loan Agreement (Skyway Communications Holding Corp)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by LenderXxxxxx, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, the Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor's other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the lender's address of Lender listed below above or such other place as Lender lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to new Indebtedness created after actual receipt by Xxxxxx of Guarantor's written revocation. For this purpose and without limitation, the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after term "new Indebtedness" does not include the date on Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. For this purpose and without limitation, "new Indebtedness" does not include all or part of the Indebtedness that is: incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired or committed to by Lender, Borrower prior to receipt of such noticerevocation; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement or incurred under a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lenderthat became binding before revocation; or (d) any renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor's estate of Guarantor as to Obligations the Indebtedness created both before and after the Guarantor's death or incapacity of Guarantorincapacity, regardless of Lender’s lender's actual notice of Guarantor’s death or incapacity's death. Subject to the foregoing, Guarantor’s 's executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it shall be an Event liability of Default any remaining Guarantors under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan DocumentsGuaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor's heirs, successors and assigns so long as any of the Indebtedness remains unpaid and even though the Indebtedness may from time to time be zero dollars ($0.00).

Appears in 1 contract

Samples: Commercial Guaranty (Amrep Corp.)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by LenderXxxxxx, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, the Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor’s other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Xxxxxx’s address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to new Indebtedness created after actual receipt by Xxxxxx of Guarantor’s written revocation. For this purpose and without limitation, the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after term “new Indebtedness” does not include the date on Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. For this purpose and without limitation, “new Indebtedness” does not include all or part of the Indebtedness that is: incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired or committed to by Lender, Borrower prior to receipt of such noticerevocation; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement or incurred under a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lenderthat became binding before revocation; or (d) any renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor’s estate of Guarantor as to Obligations the Indebtedness created both before and after the Guarantor’s death or incapacity of Guarantorincapacity, regardless of Lender’s actual notice of Guarantor’s death or incapacitydeath. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it liability of any remaining Guarantors under this Guaranty. Guarantor’s obligations under this Guaranty shall be an Event in addition to any of Default under the Loan Agreement if Guarantor revokesGuarantor’s obligations, or disputes the validity of or liability under, this Guaranty or any of them, under any other guaranties of the Loan DocumentsIndebtedness or any other person heretofore or hereafter given to Lender unless such other guaranties are modified or revoked in writing; and this Guarantor shall not, unless provided in this Guaranty, affect, invalidate, or supersede any such other guaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), shall not constitute a termination of this Guaranty, This Guaranty is binding upon Guarantor and Guarantor’s heirs, successors and assigns so long as any of the Indebtedness remains unpaid and even though the Indebtedness may from time to time be zero dollars 450.00).

Appears in 1 contract

Samples: Commercial Guaranty (Prospect Acquisition Corp)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by Lender, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor’s other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Lender’s address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to the Obligations incurred advances or contracted by Borrower, or acquired or committed to new Indebtedness created after actual receipt by Lender after of Guarantor’s written revocation. For this purpose and without limitation, the date on term “new Indebtedness” does not include Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. This Guaranty will continue to bind Guarantor for all Indebtedness incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired Borrower or committed to by Lender, Lender prior to receipt of such notice; (c) now existing Guarantor’s written notice of revocation, including any extensions, renewals, substitutions or hereafter created pursuant to or evidenced by modifications of the Loan Agreement or a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lender; or (d) Indebtedness. All renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness granted after Guarantor’s revocation, are contemplated under this Guaranty and, specifically will not be considered to be new Indebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor’s estate of Guarantor as to Obligations Indebtedness created both before and after the Guarantor’s death or incapacity of Guarantorincapacity, regardless of Lender’s actual notice of Guarantor’s death or incapacitydeath. Subject to the foregoing, . Guarantor’s executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor or termination of any other guaranty of the ObligationsIndebtedness shall not affect the liability of Guarantor under this Guaranty. A revocation Lender receives from any one or more Guarantors shall not affect the liability of any remaining Guarantors under this Guaranty. Guarantor shall be liable, jointly and severally, with Borrower and any other guarantor of all or any part of the Indebtedness, and release of any other guarantor of all or any part of the Indebtedness, or termination or revocation of any other guaranty of all or any part of the ObligationsIndebtedness, shall not affect the liability of Guarantor under this Guaranty. Notwithstanding any provision to the contrary, it shall be an Event of Default under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan Documents. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), prior to Guarantor’s written revocation of this Guaranty shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor’s heirs, successors and assigns so long as any of the guaranteed Indebtedness remains unpaid and even though the Indebtedness guaranteed may from time to time be zero dollars ($0.00).

Appears in 1 contract

Samples: Commercial Guaranty (American Electric Technologies Inc)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by LenderXxxxxx, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, the Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor’s other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Xxxxxx’s address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to new Indebtedness created after actual receipt by Xxxxxx of Guarantor’s written revocation. For this purpose and without limitation, the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after term “new Indebtedness” does not include the date on Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. For this purpose and without limitation, “new Indebtedness” does not include all or part of the Indebtedness that is incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired or committed to by Lender, Borrower prior to receipt of such noticerevocation; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement or incurred under a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lenderthat became binding before revocation; or (d) any renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor’s estate of Guarantor as to Obligations the Indebtedness created both before and after the Guarantor’s death or incapacity of Guarantorincapacity, regardless of Lender’s actual notice of Guarantor’s death or incapacitydeath. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it shall be an Event liability of Default any remaining Guarantors under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan DocumentsGuaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor’s heirs, successors and assigns so long as any of the Indebtedness remains unpaid and even though the Indebtedness may from time to time be zero dollars ($0.00).

Appears in 1 contract

Samples: Commercial Guaranty (Financial Gravity Companies, Inc.)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by LenderLxxxxx, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor's other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s 's written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Lxxxxx's address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to advances or new Indebtedness created after actual receipt by Lxxxxx of Guarantor's written revocation. For this purpose and without limitation, the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after term "new indebtedness" does not include Indebtedness which at the date on which written time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. This Guaranty will continue to bind Guarantor for all indebtedness incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired Bxxxxxxx or committed to by Lender, Lender prior to receipt of such notice; (c) now existing Guarantor's written notice of revocation, including any extensions, renewals, substitutions or hereafter created pursuant to or evidenced by modifications of the Loan Agreement or a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lender; or (d) Indebtedness. All renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingindebtedness granted after Guarantor's revocation, are contemplated under this Guaranty and, specifically will not be considered to be new Indebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor's estate of Guarantor as to Obligations Indebtedness created both before and after the Guarantor's death or incapacity of Guarantorincapacity, regardless of Lender’s Lxxxxx's actual notice of Guarantor’s death or incapacity's death. Subject to the foregoing, Guarantor’s 's executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it shall be an Event liability of Default any remaining Guarantors under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan DocumentsGuaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), prior to Guarantor's written revocation of this Guaranty shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor's heirs, successors and assigns so long as any of the guaranteed indebtedness remains unpaid and even though the indebtedness guaranteed may from time to time be zero dollars ($0.00).

Appears in 1 contract

Samples: Business Loan Agreement (Century Casinos Inc /Co/)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by Lender, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, the indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor's other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s 's written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Lender's address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to the Obligations incurred advances or contracted by Borrower, or acquired or committed to new indebtedness created after actual receipt by Lender after of Guarantor's written revocation. For this purpose and without limitation, the date on term "new indebtedness" does not include the indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. This Guaranty will continue to bind Guarantor for all the indebtedness incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired Borrower or committed to by Lender, Lender prior to receipt of such notice; (c) now existing Guarantor's written notice of revocation, including any extensions, renewals, substitutions or hereafter created pursuant to or evidenced by modifications of the Loan Agreement or a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lender; or (d) indebtedness. All renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingindebtedness granted after Guarantor's revocation, are contemplated under this Guaranty and, specifically will not be considered to be new indebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor's estate of Guarantor as to Obligations the indebtedness created both before and after the guarantor's death or incapacity of Guarantorincapacity, regardless of Lender’s 's actual notice of Guarantor’s death or incapacity's death. Subject to the foregoing, Guarantor’s 's executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty Guaranty of the Obligations, indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it shall be an Event liability of Default any remaining Guarantors under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan DocumentsGuaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations indebtedness covered by this byt5 his Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the Obligationsindebtedness, even to zero dollars ($0.00), prior to Guarantor's written revocation of this Guaranty shall not constitute a termination of this Guaranty. This Guaranty is binding upon guarantor and Guarantor's heirs, successors and assigns so long as any of the indebtedness remains unpaid and even though the indebtedness may from time to time be zero dollars ($0.00).

Appears in 1 contract

Samples: Commercial Guaranty (Elecsys Corp)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by Lender, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, the Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor's other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s 's written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Lender's address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to the Obligations incurred or contracted by Borrower, or acquired or committed to new Indebtedness created after actual receipt by Lender after of Guarantor's written revocation. For this purpose and without limitation, the date on term "new Indebtedness" does not include the Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. For this purpose and without limitation, "new Indebtedness" does not include all or part of the Indebtedness that is: incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired or committed to by Lender, Borrower prior to receipt of such noticerevocation; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement or incurred under a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lenderthat became binding before revocation; or (d) any renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor's estate of Guarantor as to Obligations the Indebtedness created both before and after the Guarantor's death or incapacity of Guarantorincapacity, regardless of Lender’s 's actual notice of Guarantor’s death or incapacity's death. Subject to the foregoing, Guarantor’s 's executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it shall be an Event liability of Default any remaining Guarantors under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan DocumentsGuaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars 1$0.001, shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor's heirs, successors and assigns so long as any of the Guarantor's Share of the Indebtedness remains unpaid and even though the Guarantor's Share of the Indebtedness may from time to time be zero dollars (S0.00).

Appears in 1 contract

Samples: Credit Agreement (Emergent Group Inc/Ny)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by LenderXxxxxx, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, the Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor’s other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Xxxxxx’s address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to new Indebtedness created after actual receipt by Xxxxxx of Guarantor’s written revocation. For this purpose and without limitation, the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after term “new Indebtedness” does not include the date on Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. For this purpose and without limitation, “new Indebtedness” does not include all or part of the Indebtedness that is: incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired or committed to by Lender, Borrower prior to receipt of such noticerevocation; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement or incurred under a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lenderthat became binding before revocation; or (d) any renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor’s estate of Guarantor as to Obligations the Indebtedness created both before and after the Guarantor’s death or incapacity of Guarantorincapacity, regardless of Lender’s actual notice of Guarantor’s death or incapacitydeath. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it shall be an Event liability of Default any remaining Guarantors under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan DocumentsGuaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor’s heirs, successors and assigns so long as any of the Indebtedness remains unpaid and even though the Indebtedness may from time to time be zero dollars ($0.00).

Appears in 1 contract

Samples: Commercial Guaranty (Manufactured Housing Properties Inc.)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by LenderLxxxxx, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor’s other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Lxxxxx’s address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to advances or new Indebtedness created after actual receipt by Lxxxxx of Guarantor’s written revocation. For this purpose and without limitation, the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after term “new Indebtedness” does not include Indebtedness which at the date on which written time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. This Guaranty will continue to bind Guarantor for all Indebtedness incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired Bxxxxxxx or committed to by Lender, Lender prior to receipt of such notice; (c) now existing Guarantor’s written notice of revocation, including any extensions, renewals, substitutions or hereafter created pursuant to or evidenced by modifications of the Loan Agreement or a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lender; or (d) Indebtedness. All renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness granted after Guarantor’s revocation, are contemplated under this Guaranty and, specifically will not be considered to be new Indebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor’s estate of Guarantor as to Obligations Indebtedness created both before and after the Guarantor’s death or incapacity of Guarantorincapacity, regardless of Lender’s actual notice of Guarantor’s death or incapacitydeath. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect remaining Guarantors under this Guaranty. A revocation Lender receives from any one or more Guarantors shall not affect the liability of Guarantor any remaining Guarantors under this Guaranty. Notwithstanding any provision to the contrary, it shall be an Event of Default under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan Documents. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), prior to Guarantor’s written revocation of this Guaranty shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor’s heirs, successors and assigns so long as any of the guaranteed Indebtedness remains unpaid and even though the Indebtedness guaranteed may from time to time be zero dollars ($0.00).

Appears in 1 contract

Samples: Commercial Guaranty (Wireless Ronin Technologies Inc)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by LenderXxxxxx, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, the Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor’s other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Xxxxxx’s address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to new Indebtedness created after actual receipt by Xxxxxx of Guarantor’s written revocation. For this purpose and without limitation, the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after term “new Indebtedness” does not include the date on Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. For this purpose and without limitation, “new Indebtedness” does not include all or part of the Indebtedness that is: incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired or committed to by Lender, Borrower prior to receipt of such noticerevocation; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement or incurred under a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lenderthat became binding before revocation; or (d) any renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor’s estate of Guarantor as to Obligations the Indebtedness created both before and after the Guarantor’s death or incapacity of Guarantorincapacity, regardless of Lender’s actual notice of Guarantor’s death or incapacitydeath. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it liability of any remaining Guarantors under this Guaranty. Guarantor’s obligations under this Guaranty shall be an Event in addition to any of Default under the Loan Agreement if Guarantor revokesGuarantor’s obligations, or disputes the validity of or liability under, this Guaranty or any of them, under any other guaranties of the Loan DocumentsIndebtedness or any other person heretofore or hereafter given to Lender unless such other guaranties are modified or revoked in writing; and this Guarantor shall not, unless provided in this Guaranty, affect, invalidate, or supersede any such other guaranty. It is anticipated that fluctuations may occur in the .the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor’s heirs, successors and assigns so long as any of the Indebtedness remains unpaid and even though the Indebtedness may from time to time be zero dollars ($0.00).

Appears in 1 contract

Samples: Commercial Guaranty (Eaco Corp)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by LenderXxxxxx, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, the Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor’s other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Xxxxxx’s address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to new Indebtedness created after actual receipt by Xxxxxx of Guarantor’s written revocation. For this purpose and without limitation, the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after term “new Indebtedness” does not include the date on Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. For this purpose and without limitation, “new Indebtedness” does not include all or part of the Indebtedness that is: incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired or committed to by Lender, Borrower prior to receipt of such noticerevocation; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement or incurred under a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lenderthat became binding before revocation; or (d) any renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor’s estate of Guarantor as to Obligations the Indebtedness created both before and after the Guarantor’s death or incapacity of Guarantorincapacity, regardless of Lender’s actual notice of Guarantor’s death or incapacitydeath. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it liability of any remaining Guarantors under this Guaranty. Guarantor’s obligations under this Guaranty shall be an Event in addition to any of Default under the Loan Agreement if Guarantor revokesGuarantor’s obligations, or disputes the validity of or liability under, this Guaranty or any of them, under any other guaranties of the Loan DocumentsIndebtedness or any other person heretofore or hereafter given to Lender unless such other guaranties are modified or revoked in writing; and this Guarantor shall not, unless provided in this Guaranty, affect, invalidate, or supersede any such other guaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor’s heirs, successors and assigns so long as any of the Indebtedness remains unpaid and even though the Indebtedness may from time to time be zero dollars ($0.00).

Appears in 1 contract

Samples: Commercial Guaranty (Eaco Corp)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by LenderXxxxxx, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor’s other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Xxxxxx’s address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to advances or new Indebtedness created after actual receipt by Xxxxxx of Guarantor’s written revocation. For this purpose and without limitation, the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after term “new Indebtedness” does not include Indebtedness which at the date on which written time of notice of revocation is actually received by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrowercontingent, unliquidated, undetermined, or acquired not due and which later becomes absolute, liquidated, determined or due. This Guaranty will continue to bind Guarantor for all Indebtednesses incurred by Borrower or committed to by Lender, Lender prior to receipt of such notice; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement or a commitment in existence prior to receipt Guarantor’s written notice of such notice under which Borrower is or may become obligated to Lender; or (d) revocation, including any extensions, renewals, substitutions or modifications of the Indebtedness. All renewal, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness granted after Guarantor’s revocation are contemplated under this Guaranty and, specifically will not be considered to be new to Indebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor’s estate of Guarantor as to Obligations Indebtedness created both before and after the Guarantor’s death or incapacity of Guarantorincapacity, regardless of Lender’s actual notice of Guarantor’s death or incapacitydeath. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding any provision to the contrary, it shall be an Event of Default under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan Documents. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), prior to Guarantor’s written revocation of this Guaranty shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor’s heirs, successors and assigns so long as any of the guaranteed Indebtedness remains unpaid and even though the Indebtedness guaranteed may from time to time be zero dollars ($0.00).

Appears in 1 contract

Samples: Guaranty Agreement (At&s Holdings Inc)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by Lender, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, the Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor’s other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Lender’s address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to the Obligations incurred or contracted by Borrower, or acquired or committed to new Indebtedness created after actual receipt by Lender after of Guarantor’s written revocation and Lender’s written acknowledgment of receipt. For this purpose and without limitation, the date on term “new Indebtedness” does not include the Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. For this purpose and without limitation, “new Indebtedness” does not include all or part of the Indebtedness that is: incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired or committed to by Lender, Borrower prior to receipt of such noticerevocation; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement or incurred under a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lenderthat became binding before revocation; or (d) any renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor’s estate of Guarantor as to Obligations the Indebtedness created both before and after the Guarantor’s death or incapacity of Guarantorincapacity, regardless of Lender’s actual notice of Guarantor’s death or incapacitydeath. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it shall be an Event liability of Default any remaining Guarantors under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan DocumentsGuaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor’s heirs, successors and assigns so long as any of the Indebtedness remains unpaid and oven though the Indebtedness may from time to time be zero dollars ($0.00).

Appears in 1 contract

Samples: Commercial Guaranty (Vista Proppants & Logistics Inc.)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by LenderXxxxxx, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, the Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor’s other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Xxxxxx’s address of Lender listed below above or such other place as Lender may designate in writing, Written revocation of this Guaranty will apply only to new Indebtedness created after actual receipt by Xxxxxx of Guarantor’s written revocation. This Guaranty may be revoked only with respect to For this purpose and without limitation, the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after term “new Indebtedness” does not include the date on Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. For this purpose and without limitation, “new Indebtedness” does not include all or part of the Indebtedness that is: incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired or committed to by Lender, Borrower prior to receipt of such noticerevocation; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement or incurred under a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lenderthat became binding before revocation; or (d) any renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor’s estate of Guarantor as to Obligations the Indebtedness created both before and after the Guarantor’s death or incapacity of Guarantorincapacity, regardless of Lender’s actual notice of Guarantor’s death or incapacitydeath. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it shall be an Event liability of Default any remaining Guarantors under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan DocumentsGuaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor’s hairs, successors and assigns so long as any of the Indebtedness remains unpaid and even though the Indebtedness may from time to time be zero dollars ($0.00).

Appears in 1 contract

Samples: Commercial Guaranty (Adcare Health Systems, Inc)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender Bank without the necessity of any acceptance by LenderBank, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, Indebtedness incurred or contracted before receipt by Lender Bank of any notice of revocation shall have been fully and finally paid and satisfied and all other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Written revocation of this Guaranty will apply only to advances or new Indebtedness created after actual receipt by Bank of Guarantor’s 's written notice of revocation must be delivered to Lender revocation. For this purpose and without limitation, the term "new Indebtedness" does not include Indebtedness which at the address time of Lender listed below or such other place as Lender may designate in writing. This Guaranty may be revoked only with respect to the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after the date on which written notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. This Guaranty will continue to bind Guarantor for all Indebtedness incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired Borrower or committed to by Lender, Bank prior to receipt of such notice; (c) now existing Guarantor's written notice of revocation, including any extensions, renewals, substitutions or hereafter created pursuant to or evidenced by modifications of the Loan Agreement or a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lender; or (d) Indebtedness. All renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoing. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individualIndebtedness granted after Guarantor's revocation, are contemplated under this Guaranty shall bind the estate of Guarantor as and, specifically will not be considered to Obligations created both before and after the death or incapacity of Guarantor, regardless of Lender’s actual notice of Guarantor’s death or incapacity. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke this Guaranty in the same manner in which Guarantor might have revoked it and with the same effectbe new Indebtedness. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation received by Bank from any provision to one or more Guarantors shall not affect the contrary, it shall be an Event liability of Default any remaining Guarantors under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan DocumentsGuaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is specifically acknowledged and agreed by CONTINUING AND UNCONDITIONAL GUARANTY - 96 Guarantor that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), prior to written revocation of this Guaranty by Guarantor shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor's heirs, successors and assigns so long as any of the guaranteed Indebtedness remains unpaid and even though the Indebtedness guaranteed may from time to time be zero dollars ($0.00).

Appears in 1 contract

Samples: Credit Agreement (Jore Corp)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by Lender, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor's other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s 's written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Lender's address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to the Obligations incurred advances or contracted by Borrower, or acquired or committed to new Indebtedness created after actual receipt by Lender after of Guarantor's written revocation. For this purpose and without limitation, the date on term "new Indebtedness" does not include Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. This Guaranty will continue to bind Guarantor for all Indebtedness incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired Borrower or committed to by Lender, Lender prior to receipt of such notice; (c) now existing Guarantor's written notice of revocation, including any extensions, renewals, substitutions or hereafter created pursuant to or evidenced by modifications of the Loan Agreement or a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lender; or (d) Indebtedness. All renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness granted after Guarantor's revocation, are contemplated under this Guaranty and, specifically will not be considered to be new Indebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor's estate of Guarantor as to Obligations Indebtedness created both before and after the Guarantor's death or incapacity of Guarantorincapacity, regardless of Lender’s 's actual notice of Guarantor’s death or incapacity's death. Subject to the foregoing, Guarantor’s 's executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it shall be an Event liability of Default any remaining Guarantors under the Loan Agreement if Guarantor revokes, or disputes the validity of or liability under, this Guaranty or any of the Loan DocumentsGuaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), prior to Guarantor's written revocation of this Guaranty shall not constitute a termination of this Guaranty. This Guaranty is binding upon Guarantor and Guarantor's heirs, successors and assigns so long as any of the guaranteed Indebtedness remains unpaid and even though the Indebtedness guaranteed may from time to time be zero dollars ($0.00).

Appears in 1 contract

Samples: Business Loan Agreement (Portland Brewing Co /Or/)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by LenderXxxxxx, or any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, the Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all of Guarantor’s other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the Xxxxxx’s address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to new Indebtedness created after actual receipt by Xxxxxx of Guarantor’s written revocation. For this purpose and without limitation, the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after term “new Indebtedness” does not include the date on Indebtedness which written at the time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. For this purpose and without limitation, “new Indebtedness” does not include all or part of the Indebtedness that is: incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired or committed to by Lender, Borrower prior to receipt of such noticerevocation; (c) now existing or hereafter created pursuant to or evidenced by the Loan Agreement or incurred under a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lenderthat became binding before revocation; or (d) any renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the Guarantor’s estate of Guarantor as to Obligations the Indebtedness created both before and after the Guarantor’s death or incapacity of Guarantorincapacity, regardless of Lender’s actual notice of Guarantor’s death or incapacitydeath. Subject to the foregoing, Guarantor’s executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation Lender receives from any provision to one or more Guarantors shall not affect the contrary, it liability of any remaining Guarantors under this Guaranty. Guarantor’s obligations under this Guaranty shall be an Event in addition to any of Default under the Loan Agreement if Guarantor revokesGuarantor’s obligations, or disputes the validity of or liability under, this Guaranty or any of them, under any other guaranties of the Loan DocumentsIndebtedness or any other person heretofore or hereafter given to Lender unless such other guaranties are modified or revoked in writing; and this Guarantor shall not, unless provided in this Guaranty, affect, invalidate, or supersede any such other guaranty. It is anticipated that fluctuations may occur in the aggregate amount of the Obligations Indebtedness covered by this Guaranty, and it is Guarantor specifically acknowledged acknowledges and agreed by Guarantor agrees that reductions in the amount of the ObligationsIndebtedness, even to zero dollars ($0.00), shall not constitute a termination of this Guaranty.. This Guaranty is binding upon Guarantor and Guarantor’s heirs, successors and assigns so long as any of the Indebtedness remains unpaid and even though the Indebtedness may from time to time be zero dollars ($0.00). Loan No: 366200005

Appears in 1 contract

Samples: Commercial Guaranty (Bona Film Group LTD)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by LenderLendxx, or xx any notice to Guarantor or to Borrower, and will continue in full force until all Obligations incurred, committed, Indebtedness incurred or contracted before receipt by Lender of any notice of revocation shall have been fully and finally paid and satisfied and all other obligations of Guarantor under this Guaranty shall have been performed in full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantor’s 's written notice of revocation must be delivered mailed to Lender Lender, by certified mail, at the address of Lender listed below above or such other place as Lender may designate in writing. This Written revocation of this Guaranty may be revoked will apply only with respect to advances or new Indebtedness created after actual receipt by Lendxx xx Guarantor's written revocation. For this purpose and without limitation, the Obligations incurred or contracted by Borrower, or acquired or committed to by Lender after term "new Indebtedness" does not include Indebtedness which at the date on which written time of notice of revocation is actually received contingent, unliquidated, undetermined or not due and which later becomes absolute, liquidated, determined or due. This Guaranty will continue to bind Guarantor for all Indebtedness incurred by Lender. No notice of revocation hereof shall be effective as to any Obligations: (a) existing at the date of receipt of such notice; (b) incurred or contracted by Borrower, or acquired Borrower or committed to by Lender, Lender prior to receipt of such notice; (c) now existing Guarantor's written notice of revocation, including any extensions, renewals, substitutions or hereafter created pursuant to or evidenced by modifications of the Loan Agreement or a commitment in existence prior to receipt of such notice under which Borrower is or may become obligated to Lender; or (d) Indebtedness. All renewals, extensions, consolidations, substitutions, and refinancings modifications of the foregoingIndebtedness granted after Guarantor's revocation, are contemplated under this Guaranty and, specifically will not be considered to be new Indebtedness. Guarantor waives notice of revocation given by any other guarantor of the Obligations. If Guarantor is an individual, this This Guaranty shall bind the estate of Guarantor as to Obligations Indebtedness created both before and after the death or incapacity of Guarantor, regardless of Lender’s 's actual notice of Guarantor’s death or incapacity's death. Subject to the foregoing, Guarantor’s 's executor or administrator or other legal representative may revoke terminate this Guaranty in the same manner in which Guarantor might have revoked terminated it and with the same effect. Release of any other guarantor of the Obligations, or termination or revocation of any other guaranty of the Obligations, Indebtedness shall not affect the liability of Guarantor under this Guaranty. Notwithstanding A revocation received by Lender from any provision to one or more Guarantors shall not affect the contrary, it liability of any remaining Guarantors under this Guaranty. The obligations of Guarantor under this Guaranty shall be an Event in addition to any obligations of Default under the Loan Agreement if Guarantor revokesGuarantor, or disputes the validity of or liability under, this Guaranty or any of the Loan Documents. It is anticipated that fluctuations may occur in the aggregate amount them, under any other guaranties of the Obligations covered by Indebtedness of Borrower or any other person heretofore or hereafter given to Lender unless such other guaranties are modified or revoked in writing; and this GuarantyGuaranty shall not, and it is specifically acknowledged and agreed by Guarantor that reductions in the amount of the Obligationsunless herein provided, even to zero dollars shall not constitute a termination of this Guarantyaffect, invalidate, or supersede any such other guaranty. IT IS ANTICIPATED THAT FLUCTUATIONS MAY OCCUR IN THE AGGREGATE AMOUNT OF INDEBTEDNESS COVERED BY THIS GUARANTY, AND IT IS SPECIFICALLY ACKNOWLEDGED AND AGREED BY GUARANTOR THAT REDUCTIONS IN THE AMOUNT OF INDEBTEDNESS, EVEN TO ZERO DOLLARS ($0.00), PRIOR TO WRITTEN REVOCATION OF THIS GUARANTY BY GUARANTOR SHALL NOT CONSTITUTE A TERMINATION OF THIS GUARANTY. THIS GUARANTY IS BINDING UPON GUARANTOR AND GUARXXXXX'X XEIRS, SUCCESSORS AND ASSIGNS SO LONG AS ANY OF THE GUARANTEED INDEBTEDNESS REMAINS UNPAID AND EVEN THOUGH THE INDEBTEDNESS GUARANTEED MAY FROM TIME TO TIME BE ZERO DOLLARS ($0.00).

Appears in 1 contract

Samples: Disbursement Request and Authorization (California Beach Restaurants Inc)

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