Common use of Guarantor Remains Liable Clause in Contracts

Guarantor Remains Liable. Anything herein to the contrary notwithstanding, (i) each of the Guarantors shall remain liable under any agreements which have been (in whole or in part) pledged or assigned herein to perform all of its duties and obligations thereunder to the same extent as if this Agreement had not been executed; (ii) the exercise by Secured Party of any of the rights hereunder shall not release any of the Guarantors from any of its respective duties or obligations under any such agreements; and (iii) Secured Party shall not have any obligation or liability under any such agreements by reason of this Agreement, nor shall Secured Party be obligated to perform any of the obligations or duties of any of the Guarantors thereunder or to take any action to collect or enforce any claim for payment assigned hereunder.

Appears in 2 contracts

Samples: Guarantor Security Agreement (Peoples Liberation Inc), Guarantor Security Agreement (Peoples Liberation Inc)

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Guarantor Remains Liable. Anything herein to the contrary notwithstanding, , (ia) each of the Guarantors shall Guarantor will remain liable under any the contracts and agreements which have been (included in whole or in part) pledged or assigned herein the Collateral to the extent set forth therein and will perform all of its duties and obligations thereunder under such contracts and agreements to the same extent as if this Agreement had not been executed; ; (iib) the exercise by the Secured Party of any of the its rights hereunder shall will not release any of the Guarantors Guarantor from any of its respective duties or obligations under any such agreementscontracts or agreements included in the Collateral; and and (iiic) the Secured Party shall will not have any obligation be obligated or liability liable under any such contracts or agreements included in the Collateral by reason of this Agreement, nor shall will the Secured Party be obligated to perform any of the obligations or duties of any of the Guarantors Guarantor thereunder or to take any action to collect or enforce any claim for payment assigned hereunder.

Appears in 1 contract

Samples: Guaranty and Security Agreement (Party City Corp)

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Guarantor Remains Liable. Anything herein Notwithstanding anything to the contrary notwithstandingcontained herein, (i) each of the Guarantors shall remain Guarantor remains liable under any agreements which have been (in whole or in part) pledged or assigned herein to perform all of its duties and obligations thereunder the Guaranty to the same extent as if this Agreement had not been executed; , (ii) the exercise by Secured Party of any of the its rights hereunder shall not release any of the Guarantors Guarantor from any of its respective Guarantor’s duties or obligations under any such agreements; the Guaranty, and (iii) Secured Party shall not have any obligation or liability under any such of the contracts or agreements constituting or pertaining to the Collateral by reason of this Agreement, nor shall Secured Party be obligated to perform any of the obligations or duties of any of the Guarantors Guarantor thereunder or to take any action to collect or enforce any assigned claim for payment assigned hereunderpayment.

Appears in 1 contract

Samples: Security Agreement (Retrophin, Inc.)

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