Common use of Guaranty Irrevocable; Reinstatement of Guaranty Clause in Contracts

Guaranty Irrevocable; Reinstatement of Guaranty. This Guaranty is a continuing guaranty of the payment and performance of all Liabilities now or hereafter existing under the Loan Documents and shall remain in full force and effect until the payment in full in cash of all Liabilities, all Commitments under the Credit Agreement have been terminated and the Credit Agreement and the other Loan Documents have been terminated. If all the Liabilities are paid in full in cash and all Commitments under the Credit Agreement have been terminated and the Credit Agreement and the other Loan Documents have been terminated, the Administrative Agent shall, at the Borrower’s request and expense, execute and deliver to the Guarantors appropriate documents necessary to evidence the termination of the Guaranty. This Guaranty shall continue to be effective or be reinstated, as the case may be, if at any time any payment of any of the Liabilities is rescinded or must otherwise be returned by the Administrative Agent or any Lender upon the insolvency, bankruptcy or reorganization of the Borrower or otherwise (including, without limitation, on the grounds of fraudulent conveyance), all as though the payment had not been made. This Section 3, and the obligations of each Guarantor hereunder, shall survive the termination of this Guaranty.

Guaranty Irrevocable; Reinstatement of Guaranty. This Guaranty is a continuing guaranty of the payment and performance of all Liabilities now or hereafter existing under the Loan Documents and shall remain in full force and effect until the payment in full in cash of all Liabilities, all Commitments under the Credit Agreement have been terminated and the Credit Agreement and the other Loan Documents have been terminated. If all the Liabilities are paid in full in cash and all Commitments under the Credit Agreement have been terminated and the Credit Agreement and the other Loan Documents have been terminated, the Administrative Agent shall, at the Borrower’s request and expense, execute and deliver to the Guarantors appropriate documents necessary to evidence the termination of the Guaranty. This Guaranty shall continue to be effective or be reinstated, as the case may be, if at any time any payment of any of the Liabilities is rescinded or must otherwise be returned by the Administrative Agent or any Lender Secured Party upon the insolvency, bankruptcy or reorganization of the Borrower or otherwise (including, without limitation, on the grounds of fraudulent conveyance), all as though the payment had not been made. This Section 3, and the obligations of each Guarantor hereunder, shall survive the termination of this Guaranty.