Common use of Guaranty Responsibility Clause in Contracts

Guaranty Responsibility. The guaranty under this Contract shall be guaranty with joint and several liabilities. The Guarantor is obligated to pay off the debt in the event the Obligor is unable to pay off the debt (including the Creditor declares the debt becomes mature in advance to its original expiry date due to default of the Obligor or the Guarantor).

Guaranty Responsibility. The guaranty under this Contract shall be guaranty with joint and several liabilities. The Guarantor guarantor is obligated to pay off the debt in the event the Obligor obligor is unable to pay off the debt (including the Creditor declares the debt becomes mature in advance to its original expiry date due to default of the Obligor or the Guarantor)debt.