Independent Obligations. Guarantor agrees that the Guaranteed Obligations are independent of the obligations of DB Contractor and if any default occurs hereunder, a separate action or actions may be brought and prosecuted against Guarantor whether or not DB Contractor is joined therein. TxDOT may maintain successive actions for other defaults of Guarantor. TxDOT’s rights hereunder will not be exhausted by the exercise of any of its rights or remedies or by any such action or by any number of successive actions until and unless all Guaranteed Obligations have been paid and fully performed. a. Xxxxxxxxx agrees that TxDOT may enforce this Guaranty, at any time and from time to time, without the necessity of resorting to or exhausting any security or collateral and without the necessity of proceeding against DB Contractor. Guarantor hereby waives the right to require TxDOT to proceed against DB Contractor, to exercise any right or remedy under any of the Contract Documents or to pursue any other remedy or to enforce any other right. b. Guarantor will continue to be subject to this Guaranty notwithstanding: (i) any modification, agreement or stipulation between DB Contractor and TxDOT or their respective successors and assigns, with respect to any of the Contract Documents or the Guaranteed Obligations; (ii) any waiver of or failure to enforce any of the terms, covenants or conditions contained in any of the Contract Documents or any modification thereof; (iii) any release of DB Contractor from any liability with respect to any of the Contract Documents; or (iv) any release or subordination of any collateral then held by TxDOT as security for the performance by DB Contractor of the Guaranteed Obligations. c. The Guaranteed Obligations are not conditional or contingent upon the genuineness, validity, regularity or enforceability of any of the Contract Documents or the pursuit by TxDOT of any remedies which TxDOT either now has or may hereafter have with respect thereto under any of the Contract Documents. d. Notwithstanding anything to the contrary contained elsewhere in this Guaranty, Guarantor’s obligations and undertakings hereunder are derivative of, and not in excess of, the obligations of DB Contractor under the DBC. Accordingly, in the event that DB Contractor’s obligations have been changed by any modification, agreement or stipulation between DB Contractor and TxDOT or their respective successors or assigns, this Guaranty shall apply to the Guaranteed Obligations as so changed.
Appears in 19 contracts
Samples: Design Build Agreement, Design Build Agreement, Design Build Agreement
Independent Obligations. Guarantor agrees that the Guaranteed Obligations are independent of the obligations of DB Contractor and if any default occurs hereunder, a separate action or actions may be brought and prosecuted against Guarantor whether or not DB Contractor is joined therein. TxDOT may maintain successive actions for other defaults of Guarantor. TxDOT’s rights hereunder will not be exhausted by the exercise of any of its rights or remedies or by any such action or by any number of successive actions until and unless all Guaranteed Obligations have been paid and fully performed.
a. Xxxxxxxxx agrees that TxDOT may enforce this Guaranty, at any time and from time to time, without the necessity of resorting to or exhausting any security or collateral and without the necessity of proceeding against DB Contractor. Guarantor hereby waives the right to require TxDOT to proceed against DB Contractor, to exercise any right or remedy under any of the Contract CMC Documents or to pursue any other remedy or to enforce any other right.
b. Guarantor will continue to be subject to this Guaranty notwithstanding: (i) any modification, agreement or stipulation between DB Contractor and TxDOT or their respective successors and assigns, with respect to any of the Contract CMC Documents or the Guaranteed Obligations; (ii) any waiver of or failure to enforce any of the terms, covenants or conditions contained in any of the Contract CMC Documents or any modification thereof; (iii) any release of DB Contractor from any liability with respect to any of the Contract CMC Documents; or (iv) any release or subordination of any collateral then held by TxDOT as security for the performance by DB Contractor of the Guaranteed Obligations.
c. The Guaranteed Obligations are not conditional or contingent upon the genuineness, validity, regularity or enforceability of any of the Contract CMC Documents or the pursuit by TxDOT of any remedies which TxDOT either now has or may hereafter have with respect thereto under any of the Contract CMC Documents.
d. Notwithstanding anything to the contrary contained elsewhere in this Guaranty, Guarantor’s obligations and undertakings hereunder are derivative of, and not in excess of, the obligations of DB Contractor under the DBCAgreement. Accordingly, in the event that DB Contractor’s obligations have been changed by any modification, agreement or stipulation between DB Contractor and TxDOT or their respective successors or assigns, this Guaranty shall apply to the Guaranteed Obligations as so changed.
Appears in 11 contracts
Samples: Capital Maintenance Agreement, Capital Maintenance Agreement, Capital Maintenance Agreement
Independent Obligations. Guarantor agrees that the Guaranteed Obligations are independent of the obligations of DB Contractor and if any default occurs hereunder, a separate action or actions may be brought and prosecuted against Guarantor whether or not DB Contractor is joined therein. TxDOT may maintain successive actions for other defaults of Guarantor. TxDOT’s rights hereunder will not be exhausted by the exercise of any of its rights or remedies or by any such action or by any number of successive actions until and unless all Guaranteed Obligations have been paid and fully performed.
a. Xxxxxxxxx Guarantor agrees that TxDOT may enforce this Guaranty, at any time and from time to time, without the necessity of resorting to or exhausting any security or collateral and without the necessity of proceeding against DB Contractor. Guarantor hereby waives the right to require TxDOT to proceed against DB Contractor, to exercise any right or remedy under any of the Contract Documents or to pursue any other remedy or to enforce any other right.
b. Guarantor will continue to be subject to this Guaranty notwithstanding: (i) any modification, agreement or stipulation between DB Contractor and TxDOT or their respective successors and assigns, with respect to any of the Contract Documents or the Guaranteed Obligations; (ii) any waiver of or failure to enforce any of the terms, covenants or conditions contained in any of the Contract Documents or any modification thereof; (iii) any release of DB Contractor from any liability with respect to any of the Contract Documents; or (iv) any release or subordination of any collateral then held by TxDOT as security for the performance by DB Contractor of the Guaranteed Obligations.
c. The Guaranteed Obligations are not conditional or contingent upon the genuineness, validity, regularity or enforceability of any of the Contract Documents or the pursuit by TxDOT of any remedies which TxDOT either now has or may hereafter have with respect thereto under any of the Contract Documents.
d. Notwithstanding anything to the contrary contained elsewhere in this Guaranty, Guarantor’s obligations and undertakings hereunder are derivative of, and not in excess of, the obligations of DB Contractor under the DBC. Accordingly, in the event that DB Contractor’s obligations have been changed by any modification, agreement or stipulation between DB Contractor and TxDOT or their respective successors or assigns, this Guaranty shall apply to the Guaranteed Obligations as so changed.
Appears in 8 contracts
Samples: Design Build Agreement, Design Build Agreement, Design Build Agreement
Independent Obligations. Guarantor agrees that the Guaranteed Obligations are independent of the obligations of DB the Maintenance Contractor and if any default occurs hereunder, a separate action or actions may be brought and prosecuted against Guarantor whether or not DB the Maintenance Contractor is joined therein. TxDOT may maintain successive actions for other defaults of Guarantor. TxDOT’s rights hereunder will not be exhausted by the exercise of any of its rights or remedies or by any such action or by any number of successive actions until and unless all Guaranteed Obligations have been paid and fully performed.
a. Xxxxxxxxx agrees that TxDOT may enforce this Guaranty, at any time and from time to time, without the necessity of resorting to or exhausting any security or collateral and without the necessity of proceeding against DB the Maintenance Contractor. Guarantor hereby waives the any right to require TxDOT to proceed against DB the Maintenance Contractor, to exercise any right or remedy under any of the Contract COMA Documents or to pursue any other remedy or to enforce any other right.
b. Guarantor will continue to be subject to this Guaranty notwithstanding: (i) any modification, agreement or stipulation between DB the Maintenance Contractor and TxDOT or their respective successors and assigns, with respect to any of the Contract COMA Documents or the Guaranteed Obligations; (ii) any waiver of or failure to enforce any of the terms, covenants or conditions contained in any of the Contract COMA Documents or any modification thereof; (iii) any release of DB the Maintenance Contractor from any liability with respect to any of the Contract COMA Documents; or (iv) any release or subordination of any collateral then held by TxDOT as security for the performance by DB the Maintenance Contractor of the Guaranteed Obligations.
c. The Guaranteed Obligations are not conditional or contingent upon the genuineness, validity, regularity or enforceability of any of the Contract COMA Documents or the pursuit by TxDOT of any remedies which TxDOT either now has or may hereafter have with respect thereto under any of the Contract COMA Documents.
d. Notwithstanding anything to the contrary contained elsewhere in this Guaranty, Guarantor’s obligations and undertakings hereunder are derivative of, and not in excess of, the obligations of DB the Maintenance Contractor under the DBCCOMA. Accordingly, in the event that DB the Maintenance Contractor’s obligations have been changed by any modification, agreement or stipulation between DB Maintenance Contractor and TxDOT or their respective successors or assigns, this Guaranty shall apply to the Guaranteed Obligations as so changed.
Appears in 5 contracts
Samples: Comprehensive Maintenance Agreement, Comprehensive Maintenance Agreement, Comprehensive Maintenance Agreement
Independent Obligations. Guarantor Xxxxxxxxx agrees that the Guaranteed Obligations are independent of the obligations of DB the Contractor and if any default occurs hereunder, a separate action or actions may be brought and prosecuted against Guarantor whether or not DB the Contractor is joined therein. TxDOT The Authority may maintain successive actions for other defaults of Guarantor. TxDOTThe Authority’s rights hereunder will not be exhausted by the exercise of any of its rights or remedies or by any such action or by any number of successive actions until and unless all Guaranteed Obligations have been paid and fully performed.
a. Xxxxxxxxx i. Guarantor agrees that TxDOT the Authority may enforce this Guaranty, at any time and from time to time, without the necessity of resorting to or exhausting any security or collateral and without the necessity of proceeding against DB the Contractor. Guarantor hereby waives the right to require TxDOT the Authority to proceed against DB Contractorthe Contractor or any other Person, to exercise any right or remedy under any of the Contract Documents or to pursue any other remedy or to enforce any other right.
b. ii. Guarantor will continue to be subject to this Guaranty notwithstanding: (i) notwithstanding any modificationof the following:
a. Modification, agreement or stipulation between DB the Contractor and TxDOT the Authority or their respective successors and assigns, with respect to any of the Contract Documents or the Guaranteed Obligations; (ii) any waiver of or failure ;
b. Failure to enforce any of the terms, covenants or conditions contained in any of the Contract Documents or any modification thereof; (iii) any release of DB Contractor from any liability with respect to any of the Contract Documents; or (iv) any release or
c. Release or subordination of any collateral then held by TxDOT the Authority as security for the performance by DB the Contractor of the Guaranteed Obligations.
c. iii. The Guaranteed Obligations are not conditional or contingent upon the genuineness, validity, regularity or enforceability of any of the Contract Documents or the pursuit by TxDOT the Authority of any remedies which TxDOT the Authority either now has or may hereafter have with respect thereto under any of the Contract Documents.
d. Notwithstanding anything to the contrary contained elsewhere in this Guaranty, Guarantor’s obligations and undertakings hereunder are derivative of, and not in excess of, the obligations of DB Contractor under the DBC. Accordingly, in the event that DB Contractor’s obligations have been changed by any modification, agreement or stipulation between DB Contractor and TxDOT or their respective successors or assigns, this Guaranty shall apply to the Guaranteed Obligations as so changed.
Appears in 4 contracts
Samples: Design Build Services Agreement, Design Build Services Agreement, Design Build Services Agreement
Independent Obligations. Guarantor Xxxxxxxxx agrees that the Guaranteed Obligations are independent of the obligations of the DB Contractor and if any default occurs hereunder, a separate action or actions may be brought and prosecuted against Guarantor whether or not the DB Contractor is joined therein. TxDOT may maintain successive actions for other defaults of Guarantor. TxDOT’s rights hereunder will not be exhausted by the exercise of any of its rights or remedies or by any such action or by any number of successive actions until and unless all Guaranteed Obligations have been paid and fully performed.
a. Xxxxxxxxx agrees that TxDOT may enforce this Guaranty, at any time and from time to time, without the necessity of resorting to or exhausting any security or collateral and without the necessity of proceeding against the DB Contractor. Guarantor hereby waives the right to require TxDOT to proceed against the DB Contractor, to exercise any right or remedy under any of the Contract Documents or to pursue any other remedy or to enforce any other right.
b. Guarantor will continue to be subject to this Guaranty notwithstanding: (i) any modification, agreement or stipulation between the DB Contractor and TxDOT or their respective successors and assigns, with respect to any of the Contract Documents or the Guaranteed Obligations; (ii) any waiver of or failure to enforce any of the terms, covenants or conditions contained in any of the Contract Documents or any modification thereof; (iii) any release of the DB Contractor from any liability with respect to any of the Contract Documents; or (iv) any release or subordination of any collateral then held by TxDOT as security for the performance by the DB Contractor of the Guaranteed Obligations.
c. The Guaranteed Obligations are not conditional or contingent upon the genuineness, validity, regularity or enforceability of any of the Contract Documents or the pursuit by TxDOT of any remedies which TxDOT either now has or may hereafter have with respect thereto under any of the Contract Documents.
d. Notwithstanding anything to the contrary contained elsewhere in this Guaranty, Guarantor’s obligations and undertakings hereunder are derivative of, and not in excess of, the obligations of the DB Contractor under the DBCAgreement. Accordingly, in the event that the DB Contractor’s obligations have been changed by any modification, agreement or stipulation between DB Contractor and TxDOT or their respective successors or assigns, this Guaranty shall apply to the Guaranteed Obligations as so changed.
Appears in 4 contracts
Samples: Design Build Agreement, Design Build Agreement, Design Build Agreement
Independent Obligations. Guarantor Xxxxxxxxx agrees that the Guaranteed Obligations are independent of the obligations of the DB Contractor and if any default occurs hereunder, a separate action or actions may be brought and prosecuted against Guarantor whether or not the DB Contractor is joined therein. TxDOT may maintain successive actions for other defaults of Guarantor. TxDOT’s rights hereunder will not be exhausted by the exercise of any of its rights or remedies or by any such action or by any number of successive actions until and unless all Guaranteed Obligations have been paid and fully performed.
a. Xxxxxxxxx agrees that TxDOT may enforce this Guaranty, at any time and from time to time, without the necessity of resorting to or exhausting any security or collateral and without the necessity of proceeding against the DB Contractor. Guarantor hereby waives the right to require TxDOT to proceed against the DB Contractor, to exercise any right or remedy under any of the Contract DBA Documents or to pursue any other remedy or to enforce any other right.
b. Guarantor will continue to be subject to this Guaranty notwithstanding: (i) any modification, agreement or stipulation between the DB Contractor and TxDOT or their respective successors and assigns, with respect to any of the Contract DBA Documents or the Guaranteed Obligations; (ii) any waiver of or failure to enforce any of the terms, covenants or conditions contained in any of the Contract DBA Documents or any modification thereof; (iii) any release of the DB Contractor from any liability with respect to any of the Contract DBA Documents; or (iv) any release or subordination of any collateral then held by TxDOT as security for the performance by the DB Contractor of the Guaranteed Obligations.
c. The Guaranteed Obligations are not conditional or contingent upon the genuineness, validity, regularity or enforceability of any of the Contract DBA Documents or the pursuit by TxDOT XxXXX of any remedies which TxDOT either now has or may hereafter have with respect thereto under any of the Contract DBA Documents.
d. Notwithstanding anything to the contrary contained elsewhere in this Guaranty, Guarantor’s obligations and undertakings hereunder are derivative of, and not in excess of, the obligations of the DB Contractor under the DBCDBA. Accordingly, in the event that the DB Contractor’s obligations have been changed by any modification, agreement or stipulation between DB Contractor and TxDOT or their respective successors or assigns, this Guaranty shall apply to the Guaranteed Obligations as so changed.
Appears in 2 contracts
Samples: Design Build Agreement, Design Build Agreement
Independent Obligations. (a) The obligations of Guarantor agrees that the Guaranteed Obligations hereunder are independent of the obligations of DB Contractor Borrower and if any default occurs hereunder, other Loan Party and a separate action or actions may be brought and or prosecuted against Guarantor Guarantor, whether any action is brought against Borrower or not DB Contractor any other Loan Party or whether Borrower or any other Loan Party is joined thereinin any action or actions. TxDOT In any action to enforce this Agreement, Bank, at its election, may maintain successive actions for proceed against Guarantor, with or without: (i) joining Borrower or any other defaults Loan Party in any such action; (ii) commencing any action against or obtaining any judgment against Borrower or any other Loan Party; or (iii) commencing any proceeding to enforce the Note; provided however, nothing herein contained shall preclude Bank from suing on the Note or foreclosing any lien granted in any Loan Document or from exercising any other rights, remedies or power under any Loan Document, and if such foreclosure or other rights, powers or remedies are availed of, only the net proceeds therefrom, after deduction of Guarantorall charges and expenses of every kind and nature whatsoever, shall be applied in reduction of the Indebtedness and the Obligations. TxDOT’s Bank shall not be required to institute or prosecute proceedings to recover any deficiency as a condition of any payment hereunder or enforcement hereof. Nevertheless, in the event Bank elects to pursue its remedies under any one or more of the other Loan Documents and thereafter a deficiency exists, Guarantor hereby further promises and agrees to immediately pay to Bank the amount of such deficiency.
(b) Bank's rights hereunder under this Agreement will not be exhausted by any action or inaction by Bank until all of the exercise Indebtedness has been indefeasibly paid in full. Any statute of limitations which is tolled as to Borrower by reason of any payment by Borrower or other circumstance shall operate to toll the statute of its rights limitations as to Guarantor.
(c) The liability of Guarantor hereunder is not affected or remedies impaired by any direction or application of payment by Borrower or by any such action other party, or by any number other guarantee or undertaking of successive actions until Guarantor or any other party as to the Indebtedness of Borrower, by any payment on, or in reduction of, any such other guarantee or undertaking, by the termination, revocation or release of any obligations hereunder or of any other guarantor, or by any payment made to Bank on the Indebtedness which Bank repays to Borrower or any other guarantor or other person or entity pursuant to court order in any bankruptcy, reorganization, arrangement, moratorium or other debtor relief proceeding, or any other fact or circumstance which would excuse the obligation of a guarantor or surety, and unless all Guaranteed Obligations have been paid and fully performed.
a. Xxxxxxxxx agrees that TxDOT Guarantor waives any right to the deferral or modification of Guarantor's obligations hereunder by reason of any such proceeding, fact or circumstance. This Agreement shall continue to be effective in accordance with its terms, or be reinstated, as the case may enforce this Guarantybe, if at any time and from time to timepayment, without the necessity or any part thereof, of resorting to or exhausting any security or collateral and without the necessity of proceeding against DB Contractor. Guarantor hereby waives the right to require TxDOT to proceed against DB Contractor, to exercise any right or remedy under any of the Contract Documents or to pursue any other remedy or to enforce any other right.
b. Guarantor will continue to be subject to this Guaranty notwithstanding: (i) any modification, agreement or stipulation between DB Contractor and TxDOT or their respective successors and assigns, with respect to any of the Contract Documents Indebtedness is rescinded or must otherwise be restored or returned by Bank upon the Guaranteed Obligations; (ii) insolvency, bankruptcy, dissolution, liquidation or reorganization of Borrower or any waiver of other payor thereof, or failure to enforce any upon or as a result of the termsappointment of a receiver, covenants intervenor or conditions contained in any of the Contract Documents or any modification thereof; (iii) any release of DB Contractor from any liability with respect to any of the Contract Documents; or (iv) any release or subordination of any collateral then held by TxDOT as security for the performance by DB Contractor of the Guaranteed Obligations.
c. The Guaranteed Obligations are not conditional or contingent upon the genuineness, validity, regularity or enforceability of any of the Contract Documents or the pursuit by TxDOT of any remedies which TxDOT either now has or may hereafter have with respect thereto under any of the Contract Documents.
d. Notwithstanding anything to the contrary contained elsewhere in this Guaranty, Guarantor’s obligations and undertakings hereunder are derivative of, and not in excess of, the obligations of DB Contractor under the DBC. Accordingly, in the event that DB Contractor’s obligations have been changed by any modification, agreement or stipulation between DB Contractor and TxDOT or their respective successors or assigns, this Guaranty shall apply to the Guaranteed Obligations as so changed.conservator
Appears in 2 contracts
Samples: Guaranty Agreement (Firstcity Financial Corp), Guaranty Agreement (Firstcity Financial Corp)
Independent Obligations. Guarantor agrees that the Guaranteed Obligations are independent of the obligations of DB Contractor and if any default occurs hereunder, a separate action or actions may be brought and prosecuted against Guarantor whether or not DB Contractor is joined therein. TxDOT may maintain successive actions for other defaults of Guarantor. TxDOT’s rights hereunder will not be exhausted by the exercise of any of its rights or remedies or by any such action or by any number of successive actions until and unless all Guaranteed Obligations have been paid and fully performed.
a. Xxxxxxxxx Guarantor agrees that TxDOT may enforce this Guaranty, at any time and from time to time, without the necessity of resorting to or exhausting any security or collateral and without the necessity of proceeding against DB Contractor. Guarantor hereby waives the right to require TxDOT to proceed against DB Contractor, to exercise any right or remedy under any of the Contract CMC Documents or to pursue any other remedy or to enforce any other right.
b. Guarantor will continue to be subject to this Guaranty notwithstanding: (i) any modification, agreement or stipulation between DB Contractor and TxDOT or their respective successors and assigns, with respect to any of the Contract CMC Documents or the Guaranteed Obligations; (ii) any waiver of or failure to enforce any of the terms, covenants or conditions contained in any of the Contract CMC Documents or any modification thereof; (iii) any release of DB Contractor from any liability with respect to any of the Contract CMC Documents; or (iv) any release or subordination of any collateral then held by TxDOT as security for the performance by DB Contractor of the Guaranteed Obligations.
c. The Guaranteed Obligations are not conditional or contingent upon the genuineness, validity, regularity or enforceability of any of the Contract CMC Documents or the pursuit by TxDOT of any remedies which TxDOT either now has or may hereafter have with respect thereto under any of the Contract CMC Documents.
d. Notwithstanding anything to the contrary contained elsewhere in this Guaranty, Guarantor’s obligations and undertakings hereunder are derivative of, and not in excess of, the obligations of DB Contractor under the DBCAgreement. Accordingly, in the event that DB Contractor’s obligations have been changed by any modification, agreement or stipulation between DB Contractor and TxDOT or their respective successors or assigns, this Guaranty shall apply to the Guaranteed Obligations as so changed.
Appears in 2 contracts
Samples: Capital Maintenance Agreement, Capital Maintenance Agreement
Independent Obligations. Guarantor agrees that the Guaranteed Obligations are independent of the obligations of DB the Maintenance Contractor and if any default occurs hereunder, a separate action or actions may be brought and prosecuted against Guarantor whether or not DB the Maintenance Contractor is joined therein. TxDOT may maintain successive actions for other defaults of Guarantor. TxDOT’s rights hereunder will not be exhausted by the exercise of any of its rights or remedies or by any such action or by any number of successive actions until and unless all Guaranteed Obligations have been paid and fully performed.
a. Xxxxxxxxx Guarantor agrees that TxDOT may enforce this Guaranty, at any time and from time to time, without the necessity of resorting to or exhausting any security or collateral and without the necessity of proceeding against DB the Maintenance Contractor. Guarantor hereby waives the any right to require TxDOT to proceed against DB the Texas Department of Transportation EXHIBIT 9 Execution Version Horseshoe Project Page 3 of 11 Capital Maintenance Agreement Ex. 9 – Form of Guaranty Maintenance Contractor, to exercise any right or remedy under any of the Contract CMA Documents or to pursue any other remedy or to enforce any other right.
b. Guarantor will continue to be subject to this Guaranty notwithstanding: (i) any modification, agreement or stipulation between DB the Maintenance Contractor and TxDOT or their respective successors and assigns, with respect to any of the Contract CMA Documents or the Guaranteed Obligations; (ii) any waiver of or failure to enforce any of the terms, covenants or conditions contained in any of the Contract CMA Documents or any modification thereof; (iii) any release of DB the Maintenance Contractor from any liability with respect to any of the Contract CMA Documents; or (iv) any release or subordination of any collateral then held by TxDOT as security for the performance by DB the Maintenance Contractor of the Guaranteed Obligations.
c. The Guaranteed Obligations are not conditional or contingent upon the genuineness, validity, regularity or enforceability of any of the Contract CMA Documents or the pursuit by TxDOT of any remedies which TxDOT either now has or may hereafter have with respect thereto under any of the Contract CMA Documents.
d. Notwithstanding anything to the contrary contained elsewhere in this Guaranty, Guarantor’s obligations and undertakings hereunder are derivative of, and not in excess of, the obligations of DB the Maintenance Contractor under the DBCCMA. Accordingly, in the event that DB the Maintenance Contractor’s obligations have been changed by any modification, agreement or stipulation between DB Maintenance Contractor and TxDOT or their respective successors or assigns, this Guaranty shall apply to the Guaranteed Obligations as so changed.
Appears in 1 contract
Samples: Capital Maintenance Agreement
Independent Obligations. Guarantor agrees that the Guaranteed Obligations are independent of the obligations of DB Contractor Seller under the Purchase Agreement and if any default occurs hereunder, a separate action or actions may be brought and prosecuted against Guarantor whether or not DB Contractor Seller is joined therein. TxDOT Buyer may maintain successive actions for other defaults of Guarantor. TxDOT’s Buyer's rights hereunder will not be exhausted by the exercise of any of its rights or remedies or by any such action or by any number of successive actions until and unless all Guaranteed Obligations have been paid and fully performed.
a. Xxxxxxxxx (a) Guarantor agrees that TxDOT Buyer may enforce this Guaranty, at any time and from time to time, without the necessity of resorting to or exhausting any security or collateral and without the necessity of proceeding against DB ContractorSeller. Guarantor hereby waives the right to require TxDOT Buyer to proceed against DB ContractorSeller, to exercise any right or remedy under any of the Contract Documents Purchase Agreement, or to pursue any other remedy or to enforce any other right.
b. (b) Guarantor will continue to be subject to this Guaranty notwithstanding: (i) any modification, agreement or stipulation between DB Contractor Buyer and TxDOT Seller, or their respective successors and assigns, with respect to any of the Contract Documents Purchase Agreement or the Guaranteed Obligations; (ii) any waiver of or failure to enforce any of the terms, covenants or conditions contained in any of the Contract Documents Purchase Agreement or any modification thereof; (iii) any release of DB Contractor Seller from any liability with respect to any of the Contract DocumentsPurchase Agreement; or (iv) any release or subordination of any collateral then held by TxDOT Buyer as security for the performance by DB Contractor Seller of the Guaranteed Obligations.
c. (c) The Guaranteed Obligations are not conditional or contingent upon the genuineness, validity, regularity or enforceability of any of the Contract Documents Purchase Agreement or the pursuit by TxDOT Buyer of any remedies which TxDOT Buyer either now has or may hereafter have with respect thereto under any of the Contract DocumentsPurchase Agreement.
d. Notwithstanding anything to the contrary contained elsewhere in this Guaranty, Guarantor’s obligations and undertakings hereunder are derivative of, and not in excess of, the obligations of DB Contractor under the DBC. Accordingly, in the event that DB Contractor’s obligations have been changed by any modification, agreement or stipulation between DB Contractor and TxDOT or their respective successors or assigns, this Guaranty shall apply to the Guaranteed Obligations as so changed.
Appears in 1 contract
Independent Obligations. Guarantor agrees that the Guaranteed Obligations are independent of the obligations of DB Contractor the Developer and if any default occurs hereunder, a separate action or actions may be brought and prosecuted against Guarantor whether or not DB Contractor the Developer is joined therein. TxDOT may maintain successive actions for other defaults of Guarantor. TxDOT’s rights hereunder will not be exhausted by the exercise of any of its rights or remedies or by any such action or by any number of successive actions until and unless all Guaranteed Obligations have been paid and fully performed.
a. Xxxxxxxxx agrees that TxDOT may enforce this Guaranty, at any time and from time to time, without the necessity of resorting to or exhausting any security or collateral and without the necessity of proceeding against DB Contractorthe Developer. Guarantor hereby waives the right to require TxDOT to proceed against DB Contractorthe Developer, to exercise any right or remedy under any of the Contract Documents or to pursue any other remedy or to enforce any other right.
b. Guarantor will continue to be subject to this Guaranty notwithstanding: (i) any modification, agreement or stipulation between DB Contractor the Developer and TxDOT or their respective successors and assigns, with respect to any of the Contract Documents or the Guaranteed Obligations; (ii) any waiver of or failure to enforce any of the terms, covenants or conditions contained in any of the Contract Documents or any modification thereof; (iii) any release of DB Contractor the Developer from any liability with respect to any of the Contract Documents; or (iv) any release or subordination of any collateral then held by TxDOT as security for the performance by DB Contractor the Developer of the Guaranteed Obligations.
c. The Guaranteed Obligations are not conditional or contingent upon the genuineness, validity, regularity or enforceability of any of the Contract Documents or the pursuit by TxDOT of any remedies which TxDOT either now has or may hereafter have with respect thereto under any of the Contract Documents.
d. Notwithstanding anything to the contrary contained elsewhere in this Guaranty, Guarantor’s obligations and undertakings hereunder are derivative of, and not in excess of, the obligations of DB Contractor the Developer under the DBCAgreement. Accordingly, in the event that DB Contractorthe Developer’s obligations have been changed by any modification, agreement or stipulation between DB Contractor Developer and TxDOT or their respective successors or assigns, this Guaranty shall apply to the Guaranteed Obligations as so changed.
Appears in 1 contract
Samples: Development Agreement
Independent Obligations. Guarantor agrees that the Guaranteed Obligations are independent of the obligations of DB Contractor and if any default occurs hereunder, a separate action or actions may be brought and prosecuted against Guarantor whether or not DB Contractor is joined therein. TxDOT may maintain successive actions for other defaults of Guarantor. TxDOT’s rights hereunder will not be exhausted by the exercise of any of its rights or remedies or by any such action or by any number of successive actions until and unless all Guaranteed Obligations have been paid and fully performed.
a. Xxxxxxxxx Guarantor agrees that TxDOT may enforce this Guaranty, at any time and from time to time, without the necessity of resorting to or exhausting any security or collateral and without the necessity of proceeding against DB Contractor. Guarantor hereby waives the right to require TxDOT to proceed against DB Contractor, to exercise any right or remedy under any of the Contract CMA Documents or to pursue any other remedy or to enforce any other right.
b. Guarantor will continue to be subject to this Guaranty notwithstanding: (i) any modification, agreement or stipulation between DB Contractor and TxDOT or their respective successors and assigns, with respect to any of the Contract CMA Documents or the Guaranteed Obligations; (ii) any waiver of or failure to enforce any of the terms, covenants or conditions contained in any of the Contract CMA Documents or any modification thereof; (iii) any release of DB Contractor from any liability with respect to any of the Contract CMA Documents; or (iv) any release or subordination of any collateral then held by TxDOT as security for the performance by DB Contractor of the Guaranteed Obligations.
c. The Guaranteed Obligations are not conditional or contingent upon the genuineness, validity, regularity or enforceability of any of the Contract CMA Documents or the pursuit by TxDOT of any remedies which TxDOT either now has or may hereafter have with respect thereto under any of the Contract CMA Documents.
d. Notwithstanding anything to the contrary contained elsewhere in this Guaranty, Guarantor’s obligations and undertakings hereunder are derivative of, and not in excess of, the obligations of DB Contractor under the DBCAgreement. Accordingly, in the event that DB Contractor’s obligations have been changed by any modification, agreement or stipulation between DB Contractor and TxDOT or their respective successors or assigns, this Guaranty shall apply to the Guaranteed Obligations as so changed.. Texas Department of Transportation EXHIBIT 9 Execution Version I-635 LBJ East Project Page 3 Capital Maintenance Agreement
Appears in 1 contract
Samples: Capital Maintenance Agreement