Common use of Nature of Guaranty: Continuing, Absolute and Unconditional Clause in Contracts

Nature of Guaranty: Continuing, Absolute and Unconditional. (a) This Guaranty is and is intended to be a continuing guaranty of payment of the Indebtedness, independent of and in addition to any other guaranty, endorsement, collateral or other agreement held by the Agent or the Banks therefor or with respect thereto, whether or not furnished by any Guarantor. The obligation of the Guarantors to repay the Indebtedness hereunder shall be unlimited. The Guarantors shall have no right of subrogation with respect to any payments made by Guarantors hereunder, and hereby waive any benefit of, and any right to participate in, any security or collateral given to the Agent or the Banks to secure payment of the Indebtedness, until all of the Indebtedness outstanding or contracted or committed for (whether or not outstanding) is paid in full, and the Guarantors agree that none of them will take any action to enforce any obligations of the Debtor to such Guarantor prior to the Indebtedness being paid in full, provided that, in the event of the bankruptcy or insolvency of the Debtor, the Agent, on behalf of the Banks, shall be entitled notwithstanding the foregoing, to file in the name of any Guarantor or in its own name a claim for any and all indebtedness owing to such Guarantor by the Debtor, vote such claim and to apply the proceeds of any such claim to the Indebtedness.

Nature of Guaranty: Continuing, Absolute and Unconditional. (a) This Guaranty is and is intended to be a continuing guaranty of payment of the IndebtednessObligations, and not of collectibility, and is intended to be independent of and in addition to any other guaranty, endorsementindorsement, collateral or other agreement held by the Buyers or Collateral Agent or the Banks therefor or with respect thereto, whether or not furnished by any a Guarantor. The obligation None of Buyers and Collateral Agent shall be required to prosecute collection, enforcement or other remedies against Company, any other Guarantor or guarantor of the Guarantors Obligations or any other person or entity, or to enforce or resort to any of the Collateral or other rights or remedies pertaining thereto, before calling on a Guarantor for payment. The obligations of each Guarantor to repay the Indebtedness Obligations hereunder shall be unlimitedunconditional. The Guarantors Each Guarantor shall have no right of subrogation with respect to any payments made by Guarantors hereunderany Guarantor hereunder until the termination of this Guaranty in accordance with Section 8 below, and hereby waive waives any benefit of, and any right to participate in, any security or collateral given to the Agent or the Banks Buyers to secure payment of the Indebtedness, until all of the Indebtedness outstanding or contracted or committed for (whether or not outstanding) is paid in fullObligations, and the Guarantors agree each Guarantor agrees that none of them it will not take any action to enforce any obligations of the Debtor Company to such any Guarantor prior to the Indebtedness Obligations being finally and irrevocably paid in fullfull in cash, provided that, in the event of the bankruptcy or insolvency of the DebtorCompany, the Collateral Agent, on behalf for the benefit of the Banksitself and Buyers, and Buyers shall be entitled notwithstanding the foregoing, to file in the name of any Guarantor or in its own name a claim for any and all indebtedness owing to such a Guarantor by the DebtorCompany (exclusive of this Guaranty), vote such claim and to apply the proceeds of any such claim to the IndebtednessObligations.

Nature of Guaranty: Continuing, Absolute and Unconditional. (a) This Guaranty is and is intended to be a continuing guaranty of payment of the Indebtedness, independent of and in addition to any other guaranty, endorsementindorsement, collateral or other agreement held by the Agent or the Banks therefor or with respect thereto, whether or not furnished by any the Guarantor. The obligation obligations of the Guarantors Guarantor to repay the Indebtedness hereunder shall be unlimited. The Guarantors Guarantor shall have no right of subrogation with respect to any payments made by Guarantors the Guarantor hereunder, and hereby waive waives any benefit of, and any right to participate in, any security or collateral given to the Agent or the Banks to secure payment of the Indebtedness, until all of the Indebtedness outstanding or contracted or committed for (whether or not outstanding) is paid in full, and the Guarantors agree Guarantor agrees that none of them it will not take any action to enforce any obligations of the Debtor to such the Guarantor prior to the Indebtedness being paid in full, provided that, in the event of the bankruptcy or insolvency of the Debtor, the Agent, on behalf of the Banks, shall be entitled notwithstanding the foregoing, to file in the name of any the Guarantor or in its own name a claim for any and all indebtedness owing to such the Guarantor by the Debtor, vote such claim and to apply the proceeds of any such claim to the Indebtedness.

Nature of Guaranty: Continuing, Absolute and Unconditional. (a) This Guaranty is and is intended to be a continuing guaranty of payment collectibility of the IndebtednessObligations, and is intended to be independent of and in addition to any other guaranty, endorsementindorsement, collateral or other agreement held by the Lenders or Collateral Agent or the Banks therefor or with respect thereto, whether or not furnished by any Guarantor. The obligation obligations of the Guarantors Guarantor to repay the Indebtedness Obligations hereunder shall be unlimitedunconditional. The Guarantors obligations of Guarantor to repay the Obligations hereunder shall be unconditional. Guarantor shall have no right of subrogation with respect to any payments made by Guarantors hereunderGuarantor hereunder until the termination of this Guaranty in accordance with Section 8 below, and hereby waive waives any benefit of, and any right to participate in, any security or collateral given to the Agent or the Banks Lenders to secure payment of the Indebtedness, until all of the Indebtedness outstanding or contracted or committed for (whether or not outstanding) is paid in fullObligations, and the Guarantors agree Guarantor agrees that none of them he will not take any action to enforce any obligations of the Debtor Borrower to such Guarantor prior to the Indebtedness Obligations being finally and irrevocably paid in fullfull in cash, provided that, in the event of the bankruptcy or insolvency of the DebtorBorrower, the Collateral Agent, on behalf for the benefit of the Banksitself and Lenders, and Lenders shall be entitled notwithstanding the foregoing, to file in the name of any Guarantor or in its his own name a claim for any and all indebtedness owing to such Guarantor by the DebtorBorrower (exclusive of this Guaranty), vote such claim and to apply the proceeds of any such claim to the IndebtednessObligations.