Common use of LESSEE'S DEFAULT Clause in Contracts

LESSEE'S DEFAULT. This Guaranty is a guaranty of payment and performance, and not of collection. Upon any breach or default by Lessee under the Lease, Lessor may proceed immediately against Lessee and/or Guarantor to enforce any of Lessor's rights or remedies against Lessee or Guarantor pursuant to this Guaranty, the Lease, or at law or in equity without notice to or demand upon either Lessee or Guarantor. This Guaranty shall not be released, modified or affected by any failure or delay by Lessor to enforce any of its rights or remedies under the Lease or this Guaranty, or at law or in equity.

LESSEE'S DEFAULT. This Guaranty is a guaranty of payment and performance, performance and not of collection. Upon any breach or default by Lessee under the Lease, Lessor may proceed immediately against Lessee and/or Guarantor to enforce any of Lessor's ’s rights or remedies against Lessee or Guarantor pursuant to this Guaranty, the Lease, lease or at law or in equity without notice to or demand upon either Lessee or Guarantor. This Guaranty shall not be released, modified modified, or affected by any failure or delay by Lessor to enforce any of its rights or remedies under the Lease or this Guaranty, Guaranty or at law or in equity.