Common use of Irrevocable Guaranty by Parent Clause in Contracts

Irrevocable Guaranty by Parent. To induce Practice to execute and deliver this Agreement, Parent hereby unconditionally and irrevocably guarantees the Practice the full, prompt and faithful performance by Manager of all covenants and obligations to be performed by Manager under this Agreement. This guaranty shall be a guaranty of payment, not merely collection, and shall be unaffected by any subsequent modification or amendment of this Agreement whether or not Parent has knowledge of or consented to such modification or amendment. In the event that Manager fails to fully perform all such covenants and obligations in accordance with their terms or pay all or any part of such sums or deliver all or any part of such property when due, Parent will perform all such covenants and obligations in accordance with their terms or immediately pay or deliver to Practice (or such other payee or transferee as may be provided in any such agreement) the amount due and unpaid or the property not delivered, as the case may be, by Manager. In the event of bankruptcy, termination, liquidation or dissolution of Manager, this unconditional guaranty shall continue in full force and effect. In the event of any extension of time for payment or performance or other modification of any guaranteed obligation or covenant, or any waiver thereof or other compromise or indulgence with respect thereto or any release or impairment of any security for any such obligation or covenant, or any other circumstance which might otherwise constitute a legal or equitable discharge of a surety or guarantor, no notice to, or consent of, Parent shall be required.

Irrevocable Guaranty by Parent. To induce Practice to execute and deliver this Agreement, Parent hereby unconditionally and irrevocably guarantees the Practice the full, prompt and faithful performance by Manager of all covenants and obligations to be performed by Manager under this Agreement. This guaranty shall be a guaranty of payment, not merely collection, and shall be unaffected by any subsequent modification or amendment of this Agreement whether or not Parent has knowledge of or consented to such modification or amendment. In the event that Manager fails to fully perform all such covenants and obligations in accordance with their terms or pay all or any part of such sums or deliver all or any part of such property when due, Parent will perform all such covenants and obligations in accordance with their terms or immediately pay or deliver to Practice (or such other payee or transferee as may be provided in any such agreement) the amount due and unpaid or the property not delivered, as the case may be, by Manager. In the event of bankruptcy, termination, liquidation or dissolution of Manager, this unconditional guaranty shall continue in full force and effect. In the event of any No extension of time for payment or performance or other modification of any guaranteed obligation or covenant, or any waiver thereof or other compromise or indulgence with respect thereto or any release or impairment of any security for any such obligation or covenant, or any other circumstance which might otherwise constitute a legal or equitable discharge of a surety or guarantor, shall be deemed a release of Parent, and no notice to, or consent of, Parent shall be required.

Irrevocable Guaranty by Parent. To induce Practice to execute and deliver this Agreement, Parent hereby unconditionally and irrevocably guarantees the Practice the full, prompt and faithful performance by Manager of all covenants and obligations to be performed by Manager under this Agreement. This guaranty shall be a guaranty of performance and of payment, not merely collection, and shall be unaffected by any subsequent modification or amendment of this Agreement whether or not Parent has knowledge of or consented to such modification or amendment. In the event that Manager fails to fully perform any or all of such covenants and obligations in accordance with the provisions of this Agreement (as the same may be amended), Parent will perform all of its covenants and obligations in accordance with their terms or pay all or any part of such sums or deliver all or any part of such property when due, Parent will perform all such covenants and obligations in accordance with their terms or immediately pay or and deliver to Practice (or such other payee or transferee as may be provided in any such agreementthis Agreement) the amount due and unpaid or the property not delivered, as the case may be, by Manager. In the event of bankruptcy, termination, liquidation or dissolution of Manager, this unconditional guaranty shall continue in full force and effect. In the event of any No extension of time for payment or performance or other modification of any guaranteed obligation or covenant, or any waiver thereof or other compromise or indulgence with respect thereto or any release or impairment of any security for any such obligation or covenant, or any other circumstance which might otherwise constitute a legal or equitable discharge of a surety or guarantor, shall be deemed a release of Parent, and no notice to, or consent of, Parent shall be required.. Parent hereby waives (i) promptness and diligence in collection; (ii) notice of acceptance and notice of the incurrence of any obligation by Manager; (iii) notice of any actions taken by Manager; (iv)