Common use of GUARANTY AND SURETY Clause in Contracts

GUARANTY AND SURETY. Each Guarantor hereby absolutely and unconditionally guarantees, and becomes surety for, the full, timely and complete payment when due, whether by lapse of time, by acceleration of payment, or otherwise, of (a) all indebtedness, liabilities and obligations of Borrowers to Lender, whether now existing or hereinafter arising, under the Note and the other Loan Documents, (b) all costs reasonably incurred by Lender to obtain, preserve, perfect and enforce the security interests granted by this Agreement and to maintain, preserve and collect any collateral, and all taxes, assessments, insurance premiums, repairs, reasonable attorneys’ fees and legal expenses, rent, storage charges, advertising costs, brokerage fees and expenses of sale related thereto, and (c) all renewals, extensions, modifications and substitutions of all or any part of the indebtedness and obligations described in the foregoing clauses (a) and (b) (collectively, the “Guaranteed Obligations”). Each Guarantor’s obligation under this Guaranty is unconditional, absolute and enforceable, irrespective of (a) the validity or enforceability of the Guaranteed Obligations in whole or in part or of the Note and the other Loan Documents or any provision thereof, (b) whether recovery against Borrowers with respect to the Guaranteed Obligations in whole or in part is prevented by bankruptcy, the operation of law, or otherwise, and (c) any other circumstance that might otherwise cause a legal or equitable discharge or defense of Guarantors.

Appears in 1 contract

Samples: Continuing Unconditional Guaranty (United Development Funding III, LP)

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GUARANTY AND SURETY. Each Guarantor hereby absolutely and unconditionally unconditionally, guarantees, and becomes surety for, the full, timely and complete payment when due, whether by lapse of time, by acceleration of payment, or otherwise, of (a) all indebtedness, liabilities and obligations of Borrowers every kind and nature of Borrower to Lender, whether now existing or hereinafter arising, including, without limitation, all indebtedness, liabilities and obligations arising under or related to (a) the Note and the other Loan DocumentsDocuments and all amounts due thereunder, pursuant to or in connection therewith, (b) all costs reasonably incurred by Lender to obtain, preserve, perfect and enforce the security interests granted by this Agreement the Loan Documents and to maintain, preserve and collect any collateral, and all taxes, assessments, insurance premiums, repairs, reasonable attorneys’ fees and legal expenses, rent, storage charges, advertising costs, brokerage fees and expenses of sale related thereto, and (c) all renewals, extensions, modifications and substitutions of all or any part of the indebtedness and obligations described in the foregoing clauses (a) and through (b) (collectively, the “Guaranteed Obligations”). Each Guarantor’s obligation obligations under this Guaranty is are unconditional, absolute and enforceable, irrespective of (a) the validity or enforceability of the Guaranteed Obligations in whole or in part or of the Note and the other Loan Documents or any provision thereof, (b) whether recovery against Borrowers Borrower with respect to the Guaranteed Obligations in whole or in part is prevented by bankruptcy, the operation of law, or otherwise, and (c) any other circumstance that might otherwise cause a legal or equitable discharge or defense of GuarantorsGuarantor.

Appears in 1 contract

Samples: Continuing Unconditional Guaranty (United Development Funding III, LP)

GUARANTY AND SURETY. Each Guarantor hereby absolutely and unconditionally guarantees, and becomes surety for, the full, timely and complete payment when due, whether by lapse of time, by acceleration of payment, or otherwise, of (a) all indebtedness, liabilities and obligations of Borrowers Borrower to Lender, whether now Lender existing or hereinafter arising, arising under (a) the Note and the other Loan Documents, (b) all other indebtedness and obligations owed by Borrower to Lender, (c) all costs reasonably incurred by Lender to obtain, preserve, perfect and enforce the security interests granted by this Agreement and to maintain, preserve and collect any collateral, and all taxes, assessments, insurance premiums, repairs, reasonable attorneys’ fees and legal expenses, rent, storage charges, advertising costs, brokerage fees and expenses of sale related thereto, and (cd) all renewals, extensions, modifications and substitutions of all or any part of the indebtedness and obligations described in the foregoing clauses (a) and through (bc) (collectively, the “Guaranteed Obligations”). Each Guarantor’s obligation under this Guaranty is unconditional, absolute and enforceable, irrespective of (a) the validity or enforceability of the Guaranteed Obligations in whole or in part or of the Note and the other Loan Documents or any provision thereof, (b) whether recovery against Borrowers Borrower with respect to the Guaranteed Obligations in whole or in part is prevented by bankruptcy, the operation of law, or otherwise, and (c) any other circumstance that might otherwise cause a legal or equitable discharge or defense of GuarantorsGuarantor.

Appears in 1 contract

Samples: Continuing Unconditional Guaranty (United Development Funding III, LP)

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GUARANTY AND SURETY. Each Guarantor hereby absolutely and unconditionally guarantees, and becomes surety for, the full, timely and complete payment when due, whether by lapse of time, by acceleration of payment, or otherwise, of (a) all indebtedness, liabilities and obligations of Borrowers every kind and nature of Borrower to Lender, whether now existing or hereinafter arising, including, without limitation, all indebtedness, liabilities and obligations arising under or related to (a) the Note Note, and the other Loan DocumentsDocuments and all amounts due thereunder, pursuant to or in connection therewith, (b) all costs reasonably incurred by Lender to obtain, preserve, perfect and enforce the security interests granted by this Agreement the Loan Documents and to maintain, preserve and collect any collateral, and all taxes, assessments, insurance premiums, repairs, reasonable attorneys’ fees and legal expenses, rent, storage charges, advertising costs, brokerage fees and expenses of sale related thereto, and (c) all renewals, extensions, modifications and substitutions of all or any part of the indebtedness and obligations described in the foregoing clauses (a) and through (b) (collectively, the “Guaranteed Obligations”). Each Guarantor’s obligation under this Guaranty is unconditional, absolute and enforceable, irrespective of (a) the validity or enforceability of the Guaranteed Obligations in whole or in part or of the Note and the other Loan Documents or any provision thereof, (b) whether recovery against Borrowers Borrower with respect to the Guaranteed Obligations in whole or in part is prevented by bankruptcy, the operation of law, or otherwise, and (c) any other circumstance that might otherwise cause a legal or equitable discharge or defense of GuarantorsGuarantor.

Appears in 1 contract

Samples: Continuing Unconditional Guaranty (United Development Funding III, LP)

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