Common use of Joint and Individual Liability Clause in Contracts

Joint and Individual Liability. Each of you (including, without limitation, the Business, the authorized user(s) and the Guarantor(s)) will be individually and jointly responsible for paying all amounts owed under this Agreement. This means that Credit Union can require any one of you individually to repay the entire amount owed under this Agreement. Each of you authorizes the Business and each authorized user to make purchases or cash advances individually. Each Guarantor who signed the Application for the Card individually and jointly guarantees payment of all amounts owed to Credit Union pursuant to this Agreement. Credit Union can require any Guarantor to individually repay the entire amount owed under this Agreement. If any of you fail to pay any amount owed to Credit Union under this Agreement, each Guarantor individually and jointly promises to immediately pay any such amount to Credit Union upon Credit Union’s demand. Credit Union can demand payment from you even if Credit Union does not try to collect from any other party to this Agreement and/or without enforcing any security interests Credit Union may have in any property securing the debt. This guaranty remains in effect even though you are not given notice if any of you fails to pay any amount due or is in default under this Agreement. Credit Union can apply payments made by any of you to your debts to Credit Union in any order the Credit Union elects. Credit Union can release or settle with any of you at any time without affecting the liability of others. This guaranty shall be continuing and irrevocable. Each Guarantor hereby waives demand of payment, presentment, protest and notice of protest on any and all obligations under this Agreement. Each Guarantor consents to alteration of any such obligations, including, without limitation, alteration of the rate of interest or time or method of payment.

Joint and Individual Liability. Each of you (including, without limitation, the Business, the authorized user(s) and the Guarantor(s)) will be individually and jointly responsible for paying all amounts owed under this Agreement. This means that Credit Union can require any one of you individually to repay the entire amount owed under this Agreement. Each of you authorizes the Business and each authorized user to make purchases or cash advances individually. Each Guarantor who signed the Application for the Card individually and jointly guarantees payment of all amounts owed to Credit Union pursuant to this Agreement. Credit Union can require any Guarantor to individually repay the entire amount owed under this Agreement. If any of you fail to pay any amount owed to Credit Union under this Agreement, each Guarantor individually and jointly promises to immediately pay any such amount to Credit Union upon Credit Union’s demand. Credit Union can demand payment from you even if Credit Union does not try to collect from any other party to this Agreement and/or without enforcing any security interests Credit Union may have in any property securing the debt. This guaranty remains in effect even though you are not given notice if any of you fails to pay any amount due or is in default under this Agreement. Credit Union can apply payments made by any of you to your debts to Credit Union in any order the Credit Union elects. Credit Union can release or settle with any of you at any time without affecting the liability of others. This guaranty shall be continuing and irrevocable. Each Guarantor hereby waives demand of payment, presentment, protest and notice of protest on any and all obligations under this Agreement. Each Guarantor consents to alteration of any such obligations, including, without limitation, alteration of the rate of interest or time or method of payment. Each authorized user who owns 20% or more of the Business shall be considered a Guarantor for all purposes of this paragraph.

Joint and Individual Liability. Each of you (including, without limitation, the Business, the authorized user(s) and the Guarantor(s)) will be individually and jointly responsible for paying all amounts owed under this Agreement. This means that Credit Union can require any one of you individually to repay the entire amount owed under this Agreement. Each of you authorizes the Business and each authorized user to make purchases or cash advances individually. Each Guarantor who signed the Application for the Card individually and jointly guarantees payment of all amounts owed to Credit Union pursuant to this Agreement. Credit Union can require any Guarantor to individually repay the entire amount owed under this Agreement. If any of you fail to pay any amount owed to Credit Union under this Agreement, each Guarantor individually and jointly promises to immediately pay any such amount to Credit Union upon Credit Union’s demand. Credit Union can demand payment from you even if Credit Union does not try to collect from any other party to this Agreement and/or and/ or without enforcing any security interests Credit Union may have in any property securing the debt. This guaranty remains in effect even though you are not given notice if any of you fails to pay any amount due or is in default under this Agreement. Credit Union can apply payments made by any of you to your debts to Credit Union in any order the Credit Union elects. Credit Union can release or settle with any of you at any time without affecting the liability of others. This guaranty shall be continuing and irrevocable. Each Guarantor hereby waives demand of payment, presentment, protest and notice of protest on any and all obligations under this Agreement. Each Guarantor consents to alteration of any such obligations, including, without limitation, alteration of the rate of interest or time or method of payment.