Common use of Guarantee to the Maximum Extent Permitted by Law Clause in Contracts

Guarantee to the Maximum Extent Permitted by Law. The liability of the Guarantor hereunder is an absolute and unconditional guarantee of payment and performance as and when due, and not of collection. The liability of the Guarantor hereunder is several from and independent of the Obligations that are hereby guaranteed and of the liabilities of any other parties to the maximum extent permitted by law; provided, however, that notwithstanding anything herein to the contrary in no event will Party B be entitled to more than the full payment to which it is entitled as set forth in Sections 2(a), 3, 4 and 5 herein (plus any costs of enforcement as set forth in Section 8(d) below). The Guarantor’s liability hereunder may be enforced against the applicable Guarantor after nonpayment or nonperformance by Party A of any of the Obligations without requiring Party B to resort to any other Person (including, without limitation, Party A) or any other right, remedy or collateral; provided, however, that Party B shall give Party A and the Guarantor not less than ten (10) business days prior notice prior to enforcing its rights hereunder against the Guarantor.