Common use of Guarantor Revocation Clause in Contracts

Guarantor Revocation. Any Guarantee shall fail to remain in full force or effect (other than in accordance with its terms) or any action shall be taken to discontinue or to assert the invalidity or unenforceability of any Guarantee, or any Guarantor shall fail to comply with any of the terms or provisions of any Guarantee to which it is a party and such failure shall continue unremedied or unwaived for 30 days, or any Guarantor shall deny that it has any further liability under any Guarantee to which it is a party, or shall give notice to such effect; in each case other than a Guarantor’s ceasing to be a Guarantor pursuant to Section 7.02(k) or the disposition of such Guarantor in any transaction permitted by Section 7.03(a). A Default shall be deemed “continuing” until cured or until waived in writing in accordance with Section 10.01.

Guarantor Revocation. Any Guarantee Guaranty shall fail to remain in full force or effect (other than in accordance with its terms) or any action shall be taken to discontinue or to assert the invalidity or unenforceability of any GuaranteeGuaranty, or any Guarantor shall fail to comply with any of the terms or provisions of any Guarantee Guaranty to which it is a party and such failure shall continue unremedied or unwaived for 30 thirty (30) days, or any Guarantor shall deny that it has any further liability under any Guarantee Guaranty to which it is a party, or shall give notice to such effect; in each case other than a Guarantor’s ceasing to be a Subsidiary Borrower pursuant to Section 2.22 or a Guarantor pursuant to Section 7.02(k7.2(k) or the disposition of such Guarantor in any transaction permitted by Section 7.03(a7.3(a). A Default shall be deemed “continuing” until cured or until waived in writing in accordance with Section 10.019.2.

Guarantor Revocation. Any Guarantee Guaranty shall fail to remain in full force or effect (other than in accordance with its terms) or any action shall be taken to discontinue or to assert the invalidity or unenforceability of any GuaranteeGuaranty, or any Guarantor shall fail to comply with any of the terms or provisions of any Guarantee Guaranty to which it is a party and such failure shall continue unremedied or unwaived for 30 thirty (30) days, or any Guarantor shall deny that it has any further liability under any Guarantee Guaranty to which it is a party, or shall give notice to such effect; in each case other than a Guarantor’s ceasing to be a Subsidiary Borrower pursuant to Section 2.21 or a Guarantor pursuant to Section 7.02(k7.2(k) or the disposition of such Guarantor in any transaction permitted by Section 7.03(a7.3(a). A Default shall be deemed “continuing” until cured or until waived in writing in accordance with Section 10.019.2.