Common use of Guaranty of Performance of Obligations Clause in Contracts

Guaranty of Performance of Obligations. The Performance Guarantor hereby unconditionally guarantees to PFI, the full and punctual payment and performance by Pulte Mortgage of the Obligations. This Guaranty is an absolute, unconditional and continuing guaranty of the full and punctual performance of all of the Obligations and is in no way conditioned upon any requirement that PFI first take any action against Pulte Mortgage with respect to the Obligations or attempt to collect any of the amounts owing by Pulte Mortgage to PFI from Pulte Mortgage or resort to any collateral security, any balance of any deposit account or credit on the books of PFI in favor of Pulte Mortgage, any guarantor of the Obligations or any other Person. Should Pulte Mortgage default in the payment or performance of any of the Obligations, PFI may cause the immediate performance by the Performance Guarantor of the Obligations and cause any payment Obligations to become forthwith due and payable to PFI, without demand or notice of any nature (other than as expressly provided herein), all of which are expressly waived by the Performance Guarantor. The Performance Guarantor's liability under this Guaranty shall be absolute and unconditional irrespective of (i) any lack of validity or enforceability of the Repurchase Agreement, the Restated Loan Agreement or any other document executed in connection therewith or delivered thereunder, (ii) any change in the time, manner or place of payment of, or in any other term of, all or any of the Obligations, or any other amendment or waiver of or any consent to departure from the Repurchase Agreement, the Restated Loan Agreement or any other [Pulte Restated Loan Agreement] document executed in connection therewith or delivered thereunder, (iii) any taking, exchange, release or non-perfection of any collateral, or any taking, release or amendment or waiver of or consent to departure from any other guaranty, for all or any of the Obligations, (iv) any law, regulation or order of any jurisdiction affecting any term of all or any Obligations or the rights of PFI, (v) any manner of application of collateral, or proceeds thereof, to all or any of the Obligations, or any manner of sale or other disposition of any collateral for all or any of the Obligations or any other assets of Pulte Mortgage, (vi) any change, restructuring or termination of the corporate structure or existence of Pulte Mortgage, or (vii) any other circumstance which might otherwise constitute a defense available to, or a discharge of, Pulte Mortgage or a guarantor. In the event that performance of any of the Obligations is stayed upon the insolvency, bankruptcy or reorganization of Pulte Mortgage, or for any other reason, all such Obligations shall be immediately performed by the Performance Guarantor.

Guaranty of Performance of Obligations. The Each of the Performance Guarantor hereby Guarantors hereby, jointly and severally, unconditionally guarantees to PFI, SPV the full and punctual payment and performance by Pulte Mortgage the Originators of the Obligations. This Guaranty is an absolute, unconditional and continuing guaranty of the full and punctual performance of all of the Obligations and is in no way conditioned upon any requirement that PFI SPV first take any action against Pulte Mortgage the Originators with respect to the Obligations or attempt to collect any of the amounts owing by Pulte Mortgage the Originators to PFI SPV from Pulte Mortgage the Originators or resort to any collateral security, any balance of any deposit account or credit on the books of PFI SPV in favor of Pulte Mortgagethe Originators, any guarantor of the Obligations or any other Person. Should Pulte Mortgage the Originators default in the payment or performance of any of the Obligations, PFI SPV may cause the immediate performance by either of the Performance Guarantor Guarantors of the Obligations and cause any payment Obligations to become forthwith due and payable to PFISPV, without demand or notice of any nature (other than as expressly provided herein), all of which are expressly waived by each of the Performance GuarantorGuarantors. The Each of the Performance Guarantor's liability under this Guaranty shall be absolute and unconditional irrespective of (i) any lack of validity or enforceability of the Repurchase Agreement, the Restated Loan Agreement or any other document executed in connection therewith or delivered thereunder, (ii) any change in the time, manner or place of payment of, or in any other term of, all or any of the Obligations, or any other amendment or waiver of or any consent to departure from the Repurchase Agreement, the Restated Loan Agreement or any other [Pulte Restated Loan Agreement] document executed in connection therewith or delivered thereunder, (iii) any taking, exchange, release or non-perfection of any collateral, or any taking, release or amendment or waiver of or consent to departure from any other guaranty, for all or any of the Obligations, (iv) any law, regulation or order of any jurisdiction affecting any term of all or any Obligations or the rights of PFISPV, (v) any manner of application of collateral, or proceeds thereof, to all or any of the Obligations, or any manner of sale or other disposition of any collateral for all or any of the Obligations or any other assets of Pulte Mortgagethe Originators, (vi) any change, restructuring or termination of the corporate structure or existence of Pulte Mortgagethe Originators, or (vii) any other circumstance which might otherwise constitute a defense available to, or a discharge of, Pulte Mortgage the Originators or a guarantor. In the event that performance of any of the Obligations is stayed upon the insolvency, bankruptcy or reorganization of Pulte Mortgagethe Originators, or for any other reason, all such Obligations shall be immediately performed by the Performance GuarantorGuarantors.

Guaranty of Performance of Obligations. The Performance Guarantor hereby unconditionally guarantees to PFIthe Administrative Agent and the Lenders, the full and punctual payment and performance by Pulte Mortgage of the Obligations. This Guaranty is an absolute, unconditional and continuing guaranty of the full and punctual performance of all of the Obligations and is in no way conditioned upon any requirement that PFI the Administrative Agent or the Lenders first take any action against Pulte Mortgage with respect to the Obligations or attempt to collect any of the amounts owing by Pulte Mortgage to PFI the Lenders from Pulte Mortgage or resort to any collateral security, any balance of any deposit account or credit on the books of PFI any Lenders in favor of Pulte Mortgage, any guarantor of the Obligations or any other Person. Should Pulte Mortgage default in the payment or performance of any of the Obligations, PFI the Administrative Agent or the Majority Banks may cause the immediate performance by the Performance Guarantor of the Obligations and cause any payment Obligations to become forthwith due and payable to PFIthe Administrative Agent and the Lenders, without demand or notice of any nature (other than as expressly provided herein), all of which are expressly waived by the Performance Guarantor. The Performance Guarantor's liability under this Guaranty shall be absolute and unconditional irrespective of (i) any lack of validity or enforceability of the Repurchase Agreement, the Restated Loan Agreement or any other document executed in connection therewith or delivered thereunder, (ii) any change in the time, manner or place of payment of, or in any other term of, all or any of the [Pulte Restated Loan Agreement] Obligations, or any other amendment or waiver of or any consent to departure from the Repurchase Agreement, the Restated Loan Agreement or any other [Pulte Restated Loan Agreement] document executed in connection therewith or delivered thereunder, (iii) any taking, exchange, release or non-perfection of any collateral, or any taking, release or amendment or waiver of or consent to departure from any other guaranty, for all or any of the Obligations, (iv) any law, regulation or order of any jurisdiction affecting any term of all or any Obligations or the rights of PFIthe Administrative Agent or any of the Lenders, (v) any manner of application of collateral, or proceeds thereof, to all or any of the Obligations, or any manner of sale or other disposition of any collateral for all or any of the Obligations or any other assets of Pulte Mortgage, (vi) any change, restructuring or termination of the corporate structure or existence of Pulte Mortgage, or (vii) any other circumstance which might otherwise constitute a defense available to, or a discharge of, Pulte Mortgage or a guarantor. In the event that performance of any of the Obligations is stayed upon the insolvency, bankruptcy or reorganization of Pulte Mortgage, or for any other reason, all such Obligations shall be immediately performed by the Performance Guarantor.

Guaranty of Performance of Obligations. The Each of the Performance Guarantor Guarantors, jointly and severally, hereby unconditionally guarantees to PFIthe Agent, the Group Agents, the Purchasers and each other Indemnified Party, the full and punctual payment and performance by Pulte Mortgage each Seller of the Seller Obligations and by the Servicer of the Servicer Obligations. This Guaranty is an absolute, unconditional and continuing guaranty of the full and punctual performance of all of the Obligations and is in no way conditioned upon any requirement that PFI the Agent, the Group Agents or the Purchasers first take any action against Pulte Mortgage any Seller or the Servicer with respect to the Obligations or attempt to collect any of the amounts owing by Pulte Mortgage any Seller or the Servicer to PFI the Purchasers, the Group Agents or the Agent from Pulte Mortgage any Seller or the Servicer or resort to any collateral security, any balance of any deposit account or credit on the books of PFI any Purchasers in favor of Pulte Mortgageany Seller or the Servicer, any guarantor of the Obligations or any other Person. Should Pulte Mortgage any Seller or the Servicer default in the payment or performance of any of the Obligations, PFI the Agent or the Required Group Agents may cause the immediate performance by each of the Performance Guarantor Guarantors of the Obligations and cause any payment Obligations to become forthwith due and payable to PFIthe Agent, the Group Agents and the Purchasers, without demand or notice of any nature (other than as expressly provided herein), all of which are expressly waived by each of the Performance Guarantors. Each of the Performance Guarantor. The Performance Guarantor's ’s liability under this Guaranty shall be absolute and unconditional irrespective of (i) any lack of validity or enforceability of the Repurchase Agreement, the Restated Loan Letter Agreement or any other document executed in connection therewith or delivered thereunder, (ii) any change in the time, manner or place of payment of, or in any other term of, all or any of the Obligations, or any other amendment or waiver of or any consent to departure from the Repurchase Agreement, the Restated Loan Letter Agreement or any other [Pulte Restated Loan Agreement] document executed in connection therewith or delivered thereunder, (iii) any taking, exchange, release or non-perfection of any collateral, or any taking, release or amendment or waiver of or consent to departure from any other guaranty, for all or any of the Obligations, (iv) any law, regulation or order of any jurisdiction affecting any term of all or any Obligations or the rights of PFIthe Agent, any Group Agent, any of the Purchasers or any other Indemnified Party, (v) any manner of application of collateral, or proceeds thereof, to all or any of the Obligations, or any manner of sale or other disposition of any collateral for all or any of the Obligations or any other assets of Pulte Mortgageany Seller or the Servicer, (vi) any change, restructuring or termination of the corporate structure or existence of Pulte Mortgageany Seller or the Servicer, or (vii) any other circumstance which might otherwise constitute a defense available to, or a discharge of, Pulte Mortgage any Seller, the Servicer or a guarantor. In the event that performance of any of the Obligations is stayed upon the insolvency, bankruptcy or reorganization of Pulte Mortgageany Seller or the Servicer, or for any other reason, all such Obligations shall be immediately performed by the Performance GuarantorGuarantors.

Guaranty of Performance of Obligations. The Performance Guarantor hereby unconditionally guarantees to PFIthe Administrative Agent and the Lenders, the full and punctual payment and performance by Pulte Mortgage the Servicer of the Obligations. This Guaranty is an absolute, unconditional and continuing guaranty of the full and punctual performance of all of the Obligations and is in no way conditioned upon any requirement that PFI the Administrative Agent or the Lenders first take any action against Pulte Mortgage the Servicer with respect to the Obligations or attempt to collect any of the amounts owing by Pulte Mortgage the Servicer to PFI the Lenders from Pulte Mortgage the Servicer or resort to any collateral security, any balance of any deposit account or credit on the books of PFI any Lenders in favor of Pulte Mortgagethe Servicer, any guarantor of the Obligations or any other Person. Should Pulte Mortgage the Servicer default in the payment or performance of any of the Obligations, PFI the Administrative Agent or the Majority Banks may cause the immediate performance by the Performance Guarantor of the Obligations and cause any payment Obligations to become forthwith due and payable to PFIthe Administrative Agent and the Lenders, without demand or notice of any nature (other than as expressly provided herein), all of which are expressly waived by the Performance Guarantor. The Performance Guarantor's liability under this Guaranty shall be absolute and unconditional irrespective of (i) any lack of validity or enforceability of the Repurchase Agreement, the Restated Loan Agreement or any other document executed in connection therewith or delivered thereunder, (ii) any change in the time, manner or place of payment of, or in any other term of, all or any of the Obligations, or any other amendment or waiver of or any consent to departure from the Repurchase Agreement, the Restated Loan Agreement or any other [Pulte Restated Loan Agreement] document executed in connection therewith or delivered thereunder, (iii) any taking, exchange, release or non-perfection of any collateral, or any taking, release or amendment or waiver of or consent to departure from any other guaranty, for all or any of the Obligations, (iv) any law, regulation or order of any jurisdiction affecting any term of all or any Obligations or the rights of PFIthe Administrative Agent or any of the Lenders, (v) any manner of application of collateral, or proceeds thereof, to all or any of the Obligations, or any manner of sale or other disposition of any collateral for all or any of the Obligations or any other assets of Pulte Mortgagethe Servicer, (vi) any change, restructuring or termination of the corporate structure or existence of Pulte Mortgagethe Servicer, or (vii) any other circumstance which might otherwise constitute a defense available to, or a discharge of, Pulte Mortgage the Servicer or a guarantor. In the event that performance of any of the Obligations is stayed upon the insolvency, bankruptcy or reorganization of Pulte Mortgagethe Servicer, or for any other reason, all such Obligations shall be immediately performed by the Performance Guarantor.