Guaranty or Suretyship Clause Samples
A Guaranty or Suretyship clause establishes that a third party (the guarantor or surety) agrees to be responsible for fulfilling the obligations of another party if that party fails to do so. In practice, this means that if the primary debtor defaults on a loan or contract, the guarantor must step in to make payments or perform required duties. This clause is commonly used in loan agreements, leases, or construction contracts to provide additional security to the party receiving the obligation. Its core function is to reduce the risk of non-performance or non-payment by ensuring there is a financially responsible backup party.
Guaranty or Suretyship. Except for Contingent Obligations permitted by Section 9.4, the Borrower is not a party to any contract of guaranty or suretyship and none of its assets is subject to such a contract.
Guaranty or Suretyship. Neither the Borrower nor any of its Subsidiaries is a party to any contract of guaranty or suretyship, and none of its assets is subject to such a contract, except, in the case of the Subsidiaries of the Borrower, the Subsidiary Guaranties.
Guaranty or Suretyship. Except for Contingent Obligations described on Schedule 6.13 or permitted by Section 6.13, neither Company nor any of its Restricted Subsidiaries is a party to any contract of guaranty or suretyship and none of its assets is subject to such a contract.
Guaranty or Suretyship. Except as disclosed on EXHIBIT H attached hereto, Borrower is not a party to any contract of Guaranty or suretyship and none of its assets is subject to such a contract.
Guaranty or Suretyship. At the, option of the Lender, this Agreement may be treated as a guaranty or a suretyship or an indemnification. In the event of a default in the payment of any principal of, or interest on the Loan Documents, the Lender shall have the right to proceed first directly against any one or more parties to this Agreement without proceeding against or exhausting any other remedies which it may have against any other person and without resorting to any security