Common use of Guaranty of Payment Waiver of Defenses Etc Clause in Contracts

Guaranty of Payment Waiver of Defenses Etc. This Guarantee is a guarantee of payment and not of collection. The Guarantor acknowledges and agrees that this Guarantee is an absolute and independent obligation of the Guarantor and therefore waives any right to require that any action be brought against the Borrower, another guarantor or any other person or entity which is liable for all or any part of the Guaranteed Obligations, or to require that Secured Party seek to enforce or resort to any remedies with respect to any security interest, lien, encumbrance, right to setoff or similar right granted to Secured Party on account of the Guaranteed Obligations. If Guarantor consists of multiple individuals and/or entities, their liability hereunder shall be joint and several, and the compromise of any claim with, or the release of, any one such individual or entity shall not constitute a compromise with, or a release of, any other such individual or entities. The Guarantor’s obligations hereunder shall be payable on demand and shall be absolute and unconditional irrespective of (and the Guarantor hereby expressly waives any defense or claim of discharge based on): (i) the alteration or modification from time to time (whether material or otherwise) of the Guaranteed Obligations, including the date, time, and place of payment, an increase or decrease in the rate or rates of interest accruing on the Guaranteed Obligations, the period during which the Guaranteed Obligations may be made, the amount of the Guaranteed Obligations or otherwise; (ii) the waiver by CoBank of the Borrower’s compliance with any of the terms and conditions of the Loan Documents; (iii) the forbearance by CoBank from exercising any right or remedy it may have under the Loan Documents or under law; (iv) any inability, failure, neglect or omission to obtain, perfect, maintain, enforce, or realize upon any collateral for the Guaranteed Obligations, or to pursue or obtain any deficiency judgment against the Borrower following any foreclosure of any security interest, mortgage or deed of trust; (v) the loss or impairment of any collateral, the subordination or release of CoBank’s lien thereon, or the sale, pledge, surrender, exchange or substitution of any collateral; (vi) any act or omission (except acts or omissions in bad faith) of Secured Party that increases the scope of the Guarantor’s risk under this Guarantee, including negligent administration by secured Party of the Guaranteed Obligations: (vii) CoBank releasing, waiving, discharging, or modifying the obligations of one or more other guarantors (whether a party hereto or to a separate agreement with CoBank); (viii) the acceptance by CoBank of any partial payment on the Guaranteed Obligations or any collateral therefor, or CoBank settling, subordinating, compromising, discharging, or releasing the Guaranteed Obligations or any collateral therefor; (ix) the enforceability of the Loan Documents; (x) any defenses or counterclaims assertable by the Borrower, including any defense or counterclaim based on failure of consideration, breach of warranty, fraud, statute of frauds, bankruptcy, statute of limitations, lender liability, accord and satisfaction and usury; (xi) any setoff, counterclaim, recoupment or similar right assertable by the Borrower, the Guarantor, or other guarantor (whether a party hereto or to a separate guarantee); (xii) if applicable, the incapacity, death or disability of the Guarantor; or (xiii) any other circumstance which constitutes a legal or equitable discharge of a guarantor or surety. This Guarantee shall continue in full force and effect until ninety (90) days after written notice of termination shall have been received by CoBank. Notwithstanding the foregoing, such notice of termination shall not be effective as to: (1) any Guaranteed Obligations existing prior to the effective date of termination; (2) any Guaranteed Obligations arising thereafter pursuant to any commitment to extend credit entered into prior to the effective date of such notice (regardless of whether CoBank has or from time to time acquires a right to suspend or terminate such commitment owing to the occurrence of a default or otherwise); (3) any extensions, renewals, or refinancings of any Guaranteed Obligations referred to in (1) or (2) above made before or after the effective date of termination; and (4) interest, fees, expenses, and other Guaranteed Obligations relating to any of the foregoing. In addition, no such notice of termination shall in any manner impair or alter CoBank’s rights or obligations hereunder with respect to such Guaranteed Obligations or affect or impair the obligations of any other guarantor (whether a party hereto or to a separate guarantee).

Guaranty of Payment Waiver of Defenses Etc. This Guarantee is a guarantee of payment and not of collection, and of performance of Borrower's obligations to Lender. The Guarantor acknowledges and agrees that this Guarantee is an absolute and independent obligation of the Guarantor and therefore waives any right to require that any action be brought against the Borrower, another guarantor or any other person Person or entity which is liable for all or any part of the Guaranteed Obligations, or to require that Secured Party seek to enforce or resort to be had at any remedies with respect time to any security interest, lien, encumbrance, for the Guaranteed Obligations or to any right to of setoff or similar right granted to Secured Party on account of the Guaranteed Obligations. If Guarantor consists of multiple individuals and/or entities, their liability hereunder shall be joint and several, and the compromise of any claim with, or the release of, any one such individual or entity shall not constitute a compromise with, or a release of, any other such individual or entitiesright. The Guarantor’s 's obligations hereunder shall be payable on demand and shall be absolute and unconditional irrespective of (and the Guarantor hereby expressly waives any defense or claim of discharge based on): (i) the alteration or modification from time to time (whether material or otherwise) of the Guaranteed Obligations, including the date, time, and place of payment, an increase or decrease in the rate or rates of interest accruing on the Guaranteed Obligations, the period during which the Guaranteed Obligations may be made, the amount of the Guaranteed Obligations or otherwise); (ii) the waiver by CoBank Lender of the Borrower’s 's compliance with any of the terms and conditions of the Loan Documents; (iii) the forbearance by CoBank Lender from exercising any right or remedy it may have under the Loan Documents or under law; (iv) any inability, failure, neglect or omission to obtain, perfect, maintain, enforce, or realize upon any collateral Collateral for the Guaranteed Obligations, or to pursue or obtain any deficiency judgment against the Borrower following any foreclosure of any security interest, mortgage or deed of trust; (v) the loss or impairment of any collateralCollateral, the subordination or release of CoBank’s Lender's lien thereon, or the sale, pledge, surrender, exchange or substitution of any collateralCollateral; (vi) any act or omission (except acts or omissions in bad faith) of Secured Party that increases the scope of the Guarantor’s risk under this Guarantee, including negligent administration by secured Party of the Guaranteed Obligations: (vii) CoBank Lender releasing, waiving, discharging, or modifying the obligations of one or more other guarantors (whether a party hereto or to a separate agreement with CoBankLender); (viiivii) the acceptance by CoBank Lender of any partial payment on the Guaranteed Obligations or any collateral Collateral therefor, or CoBank Lender settling, subordinating, compromising, discharging, or releasing the Guaranteed Obligations or any collateral Collateral therefor; (ixviii) the enforceability unenforceability of the Loan loan Documents; (xix) any defenses or counterclaims assertable by the Borrower, including any defense or counterclaim based on failure of consideration, breach of warranty, fraud, statute of frauds, bankruptcy, statute of limitations, lender liability, and accord and satisfaction and usurysatisfaction; (xix) any setoff, counterclaim, recoupment or similar right assertable by the Borrower, the Guarantor, or other guarantor (whether a party hereto or to a separate guarantee); (xii) if applicable, the incapacity, death or disability of the Guarantor; or (xiiixi) any other circumstance which constitutes a legal or equitable discharge of a guarantor or surety. This Guarantee shall continue in full force and effect until ninety (90) five business days after written notice of termination shall have been received by CoBankLender. Notwithstanding the foregoing, such notice of termination shall not be effective as toto any Guaranteed Obligations: (1) any Guaranteed Obligations existing prior to the effective date of termination; (2) any Guaranteed Obligations arising thereafter pursuant to any commitment to extend credit entered into prior to the effective date of such notice (regardless of whether CoBank Lender has or from time to time acquires a right to suspend or terminate such commitment owing to the occurrence of a default or otherwise); (3) any extensions, renewals, or refinancings refinancing(s) of any Guaranteed Obligations referred to in (1) or (2) above made before or after the effective date of termination; and (4) interest, fees, expenses, expenses and other Guaranteed Obligations relating to any of the foregoing. In addition, no such notice of termination shall in any manner impair or alter CoBank’s Lender's rights or obligations hereunder with respect to such Guaranteed Obligations (including under Sections 3 and 6 hereof) or affect or impair the obligations of any other guarantor (whether a party hereto or to a separate guarantee).

Guaranty of Payment Waiver of Defenses Etc. This Guarantee Guaranty is a guarantee guaranty of payment and not of collection. The Guarantor acknowledges and agrees that this Guarantee This Guaranty is an absolute and independent obligation of the Guarantor, and Guarantor and therefore waives any right to require that any action be brought against the BorrowerApplicant/Buyer, another guarantor or any other person or entity which is liable for all or any part of the Guaranteed Guarantied Obligations, or to require that Secured Party seek to enforce or resort to be had at any remedies with respect time to any security interest, lien, encumbrance, for the Guarantied Obligations or to any right to of setoff or similar right granted to Secured Party on account of the Guaranteed Obligations. If Guarantor consists of multiple individuals and/or entities, their liability hereunder shall be joint and several, and the compromise of any claim with, or the release of, any one such individual or entity shall not constitute a compromise with, or a release of, any other such individual or entitiesright. The Guarantor’s 's obligations hereunder shall be payable on demand and shall be absolute and unconditional irrespective of (and the Guarantor hereby expressly waives any defense or claim of discharge based on): (i) the alteration or modification from time to time (whether material or otherwise) of the Guaranteed Guarantied Obligations, including the date, time, and place of payment, an increase or decrease in the rate or rates of interest accruing on the Guaranteed Guarantied Obligations, the period during which the Guaranteed Guarantied Obligations may be made, the amount of the Guaranteed Obligations or otherwiseGuarantied Obligations; (ii) the waiver by CoBank Creditor of the Borrower’s Applicant/Buyer's compliance with any of the terms and conditions of the Loan DocumentsCredit Agreement or other contracts; (iii) the forbearance by CoBank Creditor from exercising any right or remedy it may have under the Loan Documents Credit Agreement or under law; (iv) any inability, failure, neglect or omission to obtain, perfect, maintain, enforce, or realize upon any collateral for the Guaranteed Guarantied Obligations, or to pursue or obtain any deficiency judgment against the Borrower Applicant/Buyer following any foreclosure of any security interest, mortgage or deed of trust; (v) the loss or impairment of any collateral, the subordination or release of CoBank’s Creditor's lien thereon, or the sale, pledge, surrender, exchange or substitution of any collateral; (vi) any act or omission (except acts or omissions in bad faith) of Secured Party that increases the scope of the Guarantor’s risk under this Guarantee, including negligent administration by secured Party of the Guaranteed Obligations: (vii) CoBank Creditor releasing, waiving, discharging, or modifying the obligations of one or more other guarantors (whether a party hereto or to a separate agreement with CoBankCreditor); (viiivii) the acceptance by CoBank Creditor of any partial payment on the Guaranteed Guarantied Obligations or any collateral therefor, or CoBank Creditor settling, subordinating, compromising, discharging, or releasing the Guaranteed Guarantied Obligations or any collateral therefor; (ixviii) the enforceability of the Loan DocumentsCredit Agreement; (xix) any defenses or counterclaims assertable by the BorrowerApplicant/Buyer, including any defense or counterclaim based on failure of consideration, breach of warranty, fraud, statute of frauds, bankruptcy, statute of limitations, lender liability, and accord and satisfaction and usurysatisfaction; (xix) any setoff, counterclaim, recoupment or similar right assertable by the BorrowerApplicant/Buyer, the Guarantor, or other guarantor (whether a party hereto or to a separate guaranteeGuaranty); (xii) if applicable, the incapacity, death or disability of the Guarantor; or (xiiixi) any other circumstance which constitutes a legal or equitable discharge of a guarantor or surety. This Guarantee Guaranty shall continue in full force and effect until ninety (90) five business days after written notice of termination shall have been received by CoBankCreditor. Notwithstanding the foregoing, such notice of termination shall not be effective as to: (1) to any Guaranteed Guarantied Obligations existing prior to the effective date of termination; (2) any Guaranteed Obligations arising thereafter pursuant to any commitment to extend credit entered into prior to the effective date of such notice (regardless of whether CoBank has or from time to time acquires a right to suspend or terminate such commitment owing to the occurrence of a default or otherwise); (. 3) any extensions, renewals, or refinancings of any Guaranteed Obligations referred to in (1) or (2) above made before or after the effective date of termination; and (4) interest, fees, expenses, and other Guaranteed Obligations relating to any of the foregoing. In addition, no such notice of termination shall in any manner impair or alter CoBank’s rights or obligations hereunder with respect to such Guaranteed Obligations or affect or impair the obligations of any other guarantor (whether a party hereto or to a separate guarantee).

Guaranty of Payment Waiver of Defenses Etc. This Guarantee is a guarantee of payment and not of collection, and of performance of Xxxxxxxx's obligations to Lender. The Guarantor acknowledges and agrees that this Guarantee is an absolute and independent obligation of the Guarantor and therefore waives any right to require that any action be brought against the Borrower, another guarantor or any other person Person or entity which is liable for all or any part of the Guaranteed Obligations, or to require that Secured Party seek to enforce or resort to be had at any remedies with respect time to any security interest, lien, encumbrance, for the Guaranteed Obligations or to any right to of setoff or similar right granted to Secured Party on account of the Guaranteed Obligations. If Guarantor consists of multiple individuals and/or entities, their liability hereunder shall be joint and several, and the compromise of any claim with, or the release of, any one such individual or entity shall not constitute a compromise with, or a release of, any other such individual or entitiesright. The Guarantor’s 's obligations hereunder shall be payable on demand and shall be absolute and unconditional irrespective of (and the Guarantor hereby expressly waives any defense or claim of discharge based on): (i) the alteration or modification from time to time (whether material or otherwise) of the Guaranteed Obligations, including the date, time, and place of payment, an increase or decrease in the rate or rates of interest accruing on the Guaranteed Obligations, the period during which the Guaranteed Obligations may be made, the amount of the Guaranteed Obligations or otherwise); (ii) the waiver by CoBank Lender of the Borrower’s 's compliance with any of the terms and conditions of the Loan Documents; (iii) the forbearance by CoBank Lender from exercising any right or remedy it may have under the Loan Documents or under law; (iv) any inability, failure, neglect or omission to obtain, perfect, maintain, enforce, or realize upon any collateral Collateral for the Guaranteed Obligations, or to pursue or obtain any deficiency judgment against the Borrower following any foreclosure of any security interest, mortgage or deed of trust; (v) the loss or impairment of any collateralCollateral, the subordination or release of CoBank’s Xxxxxx's lien thereon, or the sale, pledge, surrender, exchange or substitution of any collateralCollateral; (vi) any act or omission (except acts or omissions in bad faith) of Secured Party that increases the scope of the Guarantor’s risk under this Guarantee, including negligent administration by secured Party of the Guaranteed Obligations: (vii) CoBank Lender releasing, waiving, discharging, or modifying the obligations of one or more other guarantors (whether a party hereto or to a separate agreement with CoBankLender); (viiivii) the acceptance by CoBank Lender of any partial payment on the Guaranteed Obligations or any collateral Collateral therefor, or CoBank Lender settling, subordinating, compromising, discharging, or releasing the Guaranteed Obligations or any collateral Collateral therefor; (ixviii) the enforceability unenforceability of the Loan loan Documents; (xix) any defenses or counterclaims assertable by the Borrower, including any defense or counterclaim based on failure of consideration, breach of warranty, fraud, statute of frauds, bankruptcy, statute of limitations, lender liability, and accord and satisfaction and usurysatisfaction; (xix) any setoff, counterclaim, recoupment or similar right assertable by the Borrower, the Guarantor, or other guarantor (whether a party hereto or to a separate guarantee); (xii) if applicable, the incapacity, death or disability of the Guarantor; or (xiiixi) any other circumstance which constitutes a legal or equitable discharge of a guarantor or surety. This Guarantee shall continue in full force and effect until ninety (90) five business days after written notice of termination shall have been received by CoBankXxxxxx. Notwithstanding the foregoing, such notice of termination shall not be effective as toto any Guaranteed Obligations: (1) any Guaranteed Obligations existing prior to the effective date of termination; (2) any Guaranteed Obligations arising thereafter pursuant to any commitment to extend credit entered into prior to the effective date of such notice (regardless of whether CoBank Lender has or from time to time acquires a right to suspend or terminate such commitment owing to the occurrence of a default or otherwise); (3) any extensions, renewals, or refinancings refinancing(s) of any Guaranteed Obligations referred to in (1) or (2) above made before or after the effective date of termination; and (4) interest, fees, expenses, expenses and other Guaranteed Obligations relating to any of the foregoing. In addition, no such notice of termination shall in any manner impair or alter CoBank’s Xxxxxx's rights or obligations hereunder with respect to such Guaranteed Obligations (including under Sections 3 and 6 hereof) or affect or impair the obligations of any other guarantor (whether a party hereto or to a separate guarantee).