Common use of GUARANTOR'S WAIVERS Clause in Contracts

GUARANTOR'S WAIVERS. The Guarantor waives any right to require the Agent and the Lenders to (a) proceed against the Borrower or any other Person liable on the Obligations, (b) enforce their rights against any other guarantor of the Obligations, (c) proceed or enforce their rights against or exhaust any security given to secure the Obligations, (d) have the Borrower joined with the Guarantor in any suit arising out of this Guaranty Agreement and/or the Obligations, or (e) pursue any other remedy whatsoever. Neither the Agent nor the Lenders shall be required to mitigate damages or take any action to reduce, collect or enforce the Obligations. The Guarantor waives any defense arising by reason of any disability, lack of corporate authority or power, or other defense of the Borrower or any other guarantor of the Obligations, and shall remain liable hereon regardless of whether the Borrower or any other guarantor be found not liable thereon for any reason.

Appears in 6 contracts

Samples: Guaranty Agreement (Corrida Resources Inc), Guaranty Agreement (Queen Sand Resources Inc), Guaranty Agreement (Corrida Resources Inc)

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GUARANTOR'S WAIVERS. The Guarantor waives any right to require the Administrative Agent and the Lenders to (a) proceed against the Borrower Company or any other Person liable on the Obligations, (b) enforce their rights against any other guarantor of the Obligations, (c) proceed or enforce their rights against or exhaust any security given to secure the Obligations, (d) have the Borrower Company joined with the Guarantor in any suit arising out of this Guaranty Agreement and/or the Obligations, or (e) pursue any other remedy whatsoever. Neither the Administrative Agent nor the Lenders shall be required to mitigate damages or take any action to reduce, collect or enforce the Obligations. The Guarantor waives any defense arising by reason of any disability, lack of corporate authority or power, or other defense of the Borrower Company or any other guarantor of the Obligations, and shall remain liable hereon regardless of whether the Borrower Company or any other guarantor be found not liable thereon for any reason.

Appears in 6 contracts

Samples: Guaranty Agreement (Ocean Energy Inc), Guaranty Agreement (Ocean Energy Inc), Guaranty Agreement (Ocean Energy Inc)

GUARANTOR'S WAIVERS. The Guarantor waives any right to require the Agent Agents and the Lenders to (a) proceed against the Borrower Company or any other Person liable on the Obligations, (b) enforce their rights against any other guarantor of the Obligations, (c) proceed or enforce their rights against or exhaust any security given to secure the Obligations, (d) have the Borrower Company joined with the Guarantor in any suit arising out of this Guaranty Agreement and/or the Obligations, or (e) pursue any other remedy whatsoever. Neither the Agent Agents nor the Lenders shall be required to mitigate damages or take any action to reduce, collect or enforce the Obligations. The Guarantor waives any defense arising by reason of any disability, lack of corporate authority or power, or other defense of the Borrower Company or any other guarantor of the Obligations, and shall remain liable hereon regardless of whether the Borrower Company or any other guarantor be found not liable thereon for any reason.

Appears in 6 contracts

Samples: Guaranty Agreement (Ocean Energy Inc), Guaranty Agreement (United Meridian Corp), Guaranty Agreement (United Meridian Corp)

GUARANTOR'S WAIVERS. The Guarantor waives any right to require the Agent Agents and the Lenders Banks to (a) proceed against the Borrower Company or any other Person liable on the Obligations, (b) enforce their rights against any other guarantor of the Obligations, (c) proceed or enforce their rights against or exhaust any security given to secure the Obligations, (d) have the Borrower Company joined with the Guarantor in any suit arising out of this Guaranty Agreement and/or the Obligations, or (e) pursue any other remedy whatsoever. Neither the Agent Agents nor the Lenders Banks shall be required to mitigate damages or take any action to reduce, collect or enforce the Obligations. The Guarantor waives any defense arising by reason of any disability, lack of corporate authority or power, or other defense of the Borrower Company or any other guarantor of the Obligations, and shall remain liable hereon regardless of whether the Borrower Company or any other guarantor be found not liable thereon for any reason.

Appears in 2 contracts

Samples: 364 Day Credit Agreement (Ocean Energy Inc /Tx/), Revolving Credit Agreement (Ocean Energy Inc /Tx/)

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GUARANTOR'S WAIVERS. The Guarantor waives any right to require the Collateral Agent and the Lenders Lender Group to (a) proceed against the Borrower or any other Person liable on the Obligations, (b) enforce their rights against any other guarantor of the Obligations, (c) proceed or enforce their rights against or exhaust any security given to secure the Obligations, (d) have the Borrower or any other guarantor or other Person joined with the Guarantor in any suit arising out of this Guaranty Agreement and/or the Obligations, or (e) pursue any other remedy whatsoever. Neither the Collateral Agent nor the Lenders Lender Group shall be required to mitigate damages or take any action to reduce, collect or enforce the Obligations. The Guarantor waives any defense arising by reason of any disability, lack of corporate authority or power, or other defense of the Borrower or Borrower, any other guarantor of the Obligations, or any other Person liable on the Obligations, and shall remain liable hereon regardless of whether the Borrower or any other guarantor or any such other Person be found not liable thereon for any reason.

Appears in 2 contracts

Samples: Guaranty Agreement (Corrida Resources Inc), Guaranty Agreement (Corrida Resources Inc)

GUARANTOR'S WAIVERS. The Guarantor waives any right to require the Agent Agents and the Lenders to (a) proceed against the Borrower Company or any other Person liable on the Obligations, (b) enforce their rights against any other guarantor of the Obligations, (c) proceed or enforce their rights against or exhaust any security given to secure the Obligations, (d) have the Borrower Company joined with the Guarantor in any suit arising out of this Guaranty Agreement and/or the Obligations, Obligations or (e) pursue any other remedy whatsoever. Neither the Agent Agents nor the Lenders shall be required to mitigate damages or take any action to reduce, collect or enforce the Obligations. The Guarantor waives any defense arising by reason of any disability, lack of corporate authority or power, or other defense of the Borrower Company or any other guarantor of the Obligations, and shall remain liable hereon regardless of whether the Borrower Company or any other guarantor be found not liable thereon for any reason.

Appears in 2 contracts

Samples: Guaranty Agreement (Ocean Energy Inc /Tx/), Revolving Credit Agreement (Ocean Energy Inc /Tx/)

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