Guaranty Method Clause Samples
The Guaranty Method clause defines the specific approach or mechanism by which a guarantor’s obligations are established and enforced under an agreement. Typically, this clause outlines whether the guaranty is absolute or conditional, and may specify if the guarantor is liable as a primary obligor or only after certain conditions are met, such as the default of the principal debtor. For example, it might clarify if the guarantor must pay immediately upon the debtor’s failure or only after the creditor has exhausted other remedies. The core function of this clause is to provide certainty and structure to the enforcement of guarantees, thereby reducing ambiguity and potential disputes regarding the guarantor’s responsibilities.
Guaranty Method. Guarantor voluntarily provides the joint liability guarantee, when debtor does not perform its obligations related to the debt according to the master contract, no matter what other guarantee Creditor has for ensuring the creditor’s rights under the master contract (including but not limited to guarantees, mortgages, pledges, etc.), Creditor has the right to ask guarantor to take guarantee responsibilities within guarantee coverage.
Guaranty Method. The method party B undertakes the guarantee responsibility is joint responsibility guarantee.
Guaranty Method. Party B shall undertake the joint and several liability guarantee.
Guaranty Method. Guarantees, provided by the guarantor, are the joint liability guarantee in this contract.
Guaranty Method. Party A shall provide joint and several guaranty liabilities under the Contract.
Guaranty Method. The guarantor is willing to provide joint and several liability for the credit of the loaner hereof.