Common use of Guaranty to be Absolute Clause in Contracts

Guaranty to be Absolute. Subject to Sections 1(b) and (c), Guarantor agrees that until the Indebtedness has been paid in full and any commitments of Lender or facilities provided by Lender with respect to the Indebtedness have been terminated, Guarantor shall not be released by or because of the taking, or failure to take, any action that might in any manner or to any extent vary the risks of Guarantor under this Guaranty or that, but for this paragraph, might discharge or otherwise reduce, limit, or modify Guarantor’s obligations under this Guaranty. Subject to Sections 1(b) and (c), Guarantor waives and surrenders any defense to any liability under this Guaranty based upon any such action, including but not limited to any action of Lender described in the immediately preceding paragraph of this Guaranty. Subject to Sections 1(b) and (c), it is the express intent of Guarantor that Guarantor’s obligations under this Guaranty are and shall be absolute and unconditional.