Common use of Liability of Guarantor Absolute Clause in Contracts

Liability of Guarantor Absolute. The Guaranteed Parties shall not be concerned to see or enquire into the capacity and powers of the Shipper or its directors, officers, employees or agents acting or purporting to act on its behalf. All obligations, liabilities and indebtedness purporting to be incurred by the Shipper in favour of the Transporter in connection with any Guaranteed Agreement shall be deemed to form part of the Guaranteed Obligations even though (i) the Shipper may not be a legal entity, or (ii) the incurring of such obligations, liabilities or indebtedness was irregularly, fraudulently, defectively or informally effected or in excess of the capacity or powers of the Shipper or its directors, officers, employees or agents, or (iii) the Shipper or the Transporter failed to obtain any authorization or approval from or other action by, or to notify or file with, any governmental authority required in connection with the performance of the Guaranteed Obligations. This Guarantee shall be a continuing guarantee and the liability of the Guarantor hereunder shall be absolute, unconditional and irrevocable and shall not be discharged, diminished or in any way affected by:

Liability of Guarantor Absolute. The Guaranteed Parties Transporter shall not be concerned to see or enquire into the capacity and powers of the Shipper or its directors, officers, employees or agents acting or purporting to act on its behalf. All obligations, liabilities and indebtedness purporting to be incurred by the Shipper in favour of the Transporter in connection with any Guaranteed Agreement shall be deemed to form part of the Guaranteed Obligations even though (i) the Shipper may not be a legal entity, or (ii) the incurring of such obligations, liabilities or indebtedness was irregularly, fraudulently, defectively or informally effected or in excess of the capacity or powers of the Shipper or its directors, officers, employees or agents, or (iii) the Shipper or the Transporter failed to obtain any authorization or approval from or other action by, or to notify or file with, any governmental authority required in connection with the performance of the Guaranteed Obligations. This Guarantee shall be a continuing guarantee and the liability of the Guarantor hereunder shall be absolute, unconditional and irrevocable and shall not be discharged, diminished or in any way affected by: