Common use of Guarantor Waivers Clause in Contracts

Guarantor Waivers. The Guarantor hereby unconditionally and irrevocably waives: (a) notice from the County of its acceptance of this Guaranty; (b) notice of any of the events referred to in Section 2 of this Guaranty, except to the extent that notice is required to be given as a condition to the enforcement of the Contractor’s obligations under the Agreement; (c) to the fullest extent lawfully possible, all notices that may be required by statute, rule of law, or otherwise to preserve intact any rights against the Guarantor, including, without limitation, presentment to, or demand of payment from, the Contractor with respect to any obligations, and notice to the Contractor of default or protest for nonpayment or failure by the Contractor to perform and comply with its obligations, except any notice provisions to the Contractor required pursuant to the Agreement; (d) to the fullest extent lawfully possible, all defenses that may now or hereafter exist by virtue of any stay, valuation, moratorium, statute of limitation, or similar law in any way limiting or restricting the liability of the Guarantor under this Guaranty, except the sole defense of payment and performance; (e) any right to require a proceeding first against the Contractor or any other person; (f) the filing of claims by the County in the event of the receivership or bankruptcy of the Contractor; (g) presentation to, demand of performance from, and protest to, the County of the obligations of the Contractor under the Agreement; and (h) all demands upon the Contractor or any other person and all other formalities the omission of any of which, or delay in performance of which, might, but for the provisions of this Section 3 by rule of law or otherwise, constitute grounds for relieving or discharging the Guarantor in whole or in part from its absolute, present, irrevocable, unconditional, and continuing obligations under this Guaranty, it being the intention of the Guarantor that its obligations under this Guaranty will not be discharged except by payment and performance and then only to the extent of the payment and performance.

Guarantor Waivers. The If and to the extent that any of the parties hereto (for the purposes of this Section 4 only, being individually and collectively referred to herein as “Guarantor”), would be deemed or construed to be a guarantor or surety under applicable law with respect to its obligations hereunder, each such Guarantor hereby unconditionally and irrevocably waivesagrees as follows: (a) notice from the County of its acceptance Guarantor expressly agrees that until each and every term, covenant and condition of this Guaranty;Agreement is fully performed, Guarantor shall not be released by any act or event which might be deemed a legal or equitable discharge or exoneration of a surety, or because of any waiver, extension, modification, forbearance or delay or other act or omission of any other party hereto. Guarantor hereby expressly waives and surrenders any defense to Guarantor’s liability under this Agreement based upon any of the foregoing acts, omissions, things, agreements, waivers or any of them. It is the purpose and intent of this Agreement that the obligations of Guarantor under it shall be absolute and unconditional under any and all circumstances, subject to and in accordance with the terms and conditions of this Agreement. (b) notice Each Guarantor waives: (i) all statutes of limitations as a defense to any action or proceeding brought against Guarantor by any other party hereto, to the fullest extent permitted by law; (ii) all presentments, demands for performance, notices of nonperformance, protests, notices of protest, notices of dishonor, notices of acceptance of this Agreement and of the events referred to in Section 2 existence, creation, or incurring of this Guarantynew or additional indebtedness, and demands and notices of every kind, except to the extent that notice is required to be given as a condition to the enforcement of the Contractor’s obligations under the Agreement; (c) to the fullest extent lawfully possible, all notices that may be required by statute, rule of law, or otherwise to preserve intact any rights against the Guarantor, including, without limitation, presentment to, or demand of payment from, the Contractor with respect to any obligations, and notice to the Contractor of default or protest for nonpayment or failure by the Contractor to perform and comply with its obligations, except any notice provisions to the Contractor required pursuant to the Agreement; (d) to the fullest extent lawfully possible, all defenses that may now or hereafter exist by virtue of any stay, valuation, moratorium, statute of limitation, or similar law in any way limiting or restricting the liability of the Guarantor under this Guaranty, except the sole defense of payment and performance; (e) any right to require a proceeding first against the Contractor or any other person; (f) the filing of claims by the County in the event of the receivership or bankruptcy of the Contractor; (g) presentation to, demand of performance from, and protest to, the County of the obligations of the Contractor under the Agreement; and (h) all demands upon the Contractor or any other person and all other formalities the omission of any of which, or delay in performance of which, might, but for the provisions of this Section 3 by rule of law or otherwise, constitute grounds for relieving or discharging the Guarantor in whole or in part from its absolute, present, irrevocable, unconditional, and continuing obligations under this Guaranty, it being the intention of the Guarantor that its obligations under this Guaranty will not be discharged except by payment and performance and then only to the extent of the payment and performanceexpressly provided herein.