Guarantor not to compete in insolvency Sample Clauses

Guarantor not to compete in insolvency. The Guarantor will not in competition with CBGA enforce any security held by the Guarantor against any of the assets of the Client or claim payment of any moneys owing to the Guarantor by any other Guarantor or the Client in any manner which would have the effect of reducing the amount recoverable by CBGA of the moneys hereby guaranteed. The Guarantor is not to prove or claim in any bankruptcy, liquidation, composition arrangement or assignment or in respect of the appointment of any liquidator or trustee until CBGA has received one hundred cents in the dollar in respect of the moneys owing by the Client to CBGA and the Guarantor is to hold on trust for CBGA that proof and claim and any dividend received thereon.
Sample 1
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Guarantor not to compete in insolvency. The Guarantor will not in competition with XXXX enforce any security held by the Guarantor against any of the assets of the Customer or claim payment of any moneys owing to the Guarantor by any other Guarantor or the Customer in any manner which would have the effect of reducing the amount recoverable by XXXX of the moneys hereby guaranteed. The Guarantor is not to prove or claim in any bankruptcy, liquidation, composition arrangement or assignment or in respect of the appointment of any liquidator or trustee until XXXX has received one hundred cents in the dollar in respect of the moneys owing by the Customer to WATT and the Guarantor is to hold on trust for WATT that proof and claim and any dividend received thereon.
Sample 1

Related to Guarantor not to compete in insolvency

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