Common use of Guaranty of Performance of Guaranteed Obligations Clause in Contracts

Guaranty of Performance of Guaranteed Obligations. Performance Guarantor hereby guarantees to Recipient, the full and punctual payment and performance by each Originator of its respective Guaranteed Obligations. This Undertaking is an absolute, unconditional and continuing guaranty of the full and punctual performance of all Guaranteed Obligations of each Originator under the Agreements and each other document executed and delivered by any Originator pursuant to the Agreements and is in no way conditioned upon any requirement that Recipient first attempt to collect any amounts owing by any Originator to Recipient, the Agents or the Lenders from any other Person or resort to any collateral security, any balance of any deposit account or credit on the books of Recipient, the Agents or any Lender in favor of any Originator or any other Person or other means of obtaining payment. Should any Originator default in the payment or performance of any of its Guaranteed Obligations, Recipient may cause the immediate performance by Performance Guarantor of such Guaranteed Obligations and cause any such payment Guaranteed Obligations to become forthwith due and payable to Recipient, without demand or notice of any nature (other than as expressly provided herein), all of which are hereby expressly waived by Performance Guarantor. Notwithstanding the foregoing, this Undertaking is a guarantee of payment and not of collection.

Guaranty of Performance of Guaranteed Obligations. Performance Guarantor hereby guarantees to Recipient, the full and punctual payment and performance by each Originator of the Originators of its respective Guaranteed Obligations. This Undertaking is an absolute, unconditional and continuing guaranty of the full and punctual performance of all Guaranteed Obligations of each Originator under the Agreements Sale Agreement, and each other document executed and delivered by any Originator of the Originators pursuant to the Agreements Sale Agreement and is in no way conditioned upon any requirement that Recipient first attempt to collect any amounts owing by any Originator the Originators to Recipient, the Agents any Agent or the Lenders any Purchaser from any other Person or resort to any collateral security, any balance of any deposit account or credit on the books of Recipient, the Agents any Agent or any Lender Purchaser in favor of any Originator of the Originators or any other Person or other means of obtaining payment. Should any Originator of the Originators default in the payment or performance of any of its Guaranteed Obligations, Recipient (or its assigns) may cause the immediate performance by Performance Guarantor of such Guaranteed Obligations and cause any such payment of Guaranteed Obligations to become forthwith due and payable to RecipientRecipient (or its assigns) by Performance Guarantor, without demand or notice of any nature (other than as expressly provided herein), all of which are hereby expressly waived by Performance Guarantor. Notwithstanding the foregoing, this Undertaking is a guarantee of payment and not of collection.

Guaranty of Performance of Guaranteed Obligations. Performance Guarantor hereby guarantees to Recipient, the full and punctual payment and performance by each Originator of the Originators of its respective Guaranteed Obligations. This Undertaking is an absolute, unconditional and continuing guaranty of the full and punctual performance of all Guaranteed Obligations of each Originator under the Agreements Sale Agreement, and each other document executed and delivered by any Originator of the Originators pursuant to the Agreements Sale Agreement and is in no way conditioned upon any requirement that Recipient first attempt to collect any amounts owing by any Originator the Originators to Recipient, the Agents Agent or the Lenders any Purchaser from any other Person or resort to any collateral security, any balance of any deposit account or credit on the books of Recipient, the Agents Agent or any Lender Purchaser in favor of any Originator of the Originators or any other Person or other means of obtaining payment. Should any Originator of the Originators default in the payment or performance of any of its Guaranteed Obligations, Recipient (or its assigns) may cause the immediate performance by Performance Guarantor of such Guaranteed Obligations and cause any such payment of Guaranteed Obligations to become forthwith due and payable to RecipientRecipient (or its assigns) by Performance Guarantor, without demand or notice of any nature (other than as expressly provided herein), all of which are hereby expressly waived by Performance Guarantor. Notwithstanding the foregoing, this Undertaking is a guarantee of payment and not of collection.