Common use of Indebtedness Guaranteed Clause in Contracts

Indebtedness Guaranteed. The Guarantor hereby irrevocably and unconditionally guarantees the prompt payment when due, whether at maturity or otherwise of the following (hereinafter collectively called the “Indebtedness”): All indebtedness, obligations and liabilities of the Borrower to the Bank (and also to others to the extent of participations granted them by the Bank) arising out of and pursuant to the Loan Agreement, now outstanding or owing or which may be existing or incurred, directly between the Borrower and the Bank, absolute or contingent, jointly and/or severally, secured or unsecured, arising by operation of law or otherwise, or direct or indirect, including, without limitation, the following: a. That certain Term Note, dated of even date herewith, in the original principal amount of $1,675,000.00, executed by the Borrower and payable to the order of the Bank, together with any and all renewals, extensions for any period, increases and rearrangements thereof; b. All liabilities of Borrower for future advances, extensions of credit, or other value at any time advanced, given, or made by the Bank to Borrower; and c. The indebtedness, covenants and obligations of the Borrower contained or referred to in the Loan Agreement, including, without limitation, the reimbursement of reasonable expenses, all reasonable attorneys’ fees, commitment fees, and other liabilities, obligations, and indebtedness of the Borrower to the Bank arising pursuant to the provisions of the Loan Agreement, or any other instrument executed in connection with or as security for the Note.

Indebtedness Guaranteed. The Guarantor hereby irrevocably and unconditionally guarantees the prompt payment when due, whether at maturity or otherwise of the following (hereinafter collectively called the “Indebtedness”): All indebtedness, obligations and liabilities of the Borrower to the Bank (and also to others to the extent of participations granted them by the Bank) arising out of and pursuant to the Loan Agreement, now outstanding or owing or which may be existing or incurred, directly between the Borrower and the Bank, absolute or contingent, jointly and/or severally, secured or unsecured, arising by operation of law or otherwise, or direct or indirect, including, without limitation, the following: a. That certain Term Note, dated of even date herewith, in the original principal amount of $1,675,000.00309,681.87, executed by the Borrower and payable to the order of the Bank, together with any and all renewals, extensions for any period, increases and rearrangements thereof; b. All liabilities of Borrower for future advances, extensions of credit, or other value at any time advanced, given, or made by the Bank to Borrower; and c. The indebtedness, covenants and obligations of the Borrower contained or referred to in the Loan Agreement, including, without limitation, the reimbursement of reasonable expenses, all reasonable attorneys’ fees, commitment fees, and other liabilities, obligations, and indebtedness of the Borrower to the Bank arising pursuant to the provisions of the Loan Agreement, or any other instrument executed in connection with or as security for the Note.