Common use of Enforcement of Guarantee Clause in Contracts

Enforcement of Guarantee. The obligations of the Guarantors under this Guarantee shall be enforceable by the Agent upon demand by the Agent for payment of the Obligations from the Borrower made when any of such Obligations are in default, without the necessity of any action or recourse whatsoever against the Borrower or any other guarantor. The remedies provided in this Guarantee are cumulative and not exclusive of any remedies provided by law, the Loan Documents, the Operating Loan Documents, the Lender Swap Agreements or otherwise.

Appears in 2 contracts

Samples: Credit Agreement (PENGROWTH ENERGY Corp), Credit Agreement (PENGROWTH ENERGY Corp)

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Enforcement of Guarantee. The obligations of the Guarantors each Guarantor under this Guarantee shall be enforceable by the Agent upon demand by the Agent for payment of the Obligations from in accordance with the Borrower made when any of such Obligations are in default, terms hereof without the necessity of any action or recourse whatsoever against the Borrower any Other Credit Party, any security or any other guarantor. The remedies provided in this Guarantee are cumulative and not exclusive of any remedies provided by applicable law, the Loan Documents, the Operating Loan Documents, the Lender Swap Agreements Documents or otherwise.

Appears in 1 contract

Samples: Credit Agreement (SemGroup Corp)

Enforcement of Guarantee. The obligations of the Guarantors under this Guarantee shall be enforceable by the Agent upon demand by the Agent for payment of the Obligations from the Borrower made when any of such Obligations are in default, without the necessity of any action or recourse whatsoever against the Borrower or any other guarantor. The remedies provided in this Guarantee are cumulative and not exclusive of any remedies provided by law, the Loan Documents, the Operating Loan Documents, the Lender Swap Agreements or otherwise.

Appears in 1 contract

Samples: Credit Agreement (Pengrowth Energy Trust)

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Enforcement of Guarantee. The obligations of the Guarantors and each of them under this Guarantee shall be enforceable by the Agent on behalf of the Lenders upon demand by the Agent for payment of the Obligations from the Borrower made when any of such Obligations are in default, without the necessity of any action or recourse whatsoever against the Borrower Borrower, any security or any other guarantor. The remedies provided in this Guarantee are cumulative and not exclusive of any remedies provided by applicable law, the Loan Documents, the Operating Loan Documents, the Lender Swap Agreements Documents or otherwise.

Appears in 1 contract

Samples: Guarantee (Paramount Energy Trust)

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