Nature of Guaranty; Joint and Several Liability of Multiple Guarantors. This Guaranty is an absolute and unconditional guaranty of payment and performance and not of collection. Guarantor’s obligations under this Guaranty are primary and are independent of the obligations of any other Credit Party, and a separate action or actions may be brought and executed against any one or more of the Guarantors, whether or not such action is brought against such Credit Party and whether or not such Credit Party is joined in such action or actions. If this Guaranty is signed by more than one Person, the liability of each such Guarantor is joint and several.
Appears in 3 contracts
Samples: Guaranty (Lodging Fund REIT III, Inc.), Guaranty (Condor Hospitality Trust, Inc.), Guaranty (Condor Hospitality Trust, Inc.)
Nature of Guaranty; Joint and Several Liability of Multiple Guarantors. This Guaranty is an absolute and unconditional guaranty of payment and performance and not of collection. Guarantor’s obligations under this Guaranty are primary and are independent of the obligations of any other Credit Party, and a separate action or actions may be brought and executed against any one or more of the Guarantors, whether or not such action is brought against such Credit Party and whether or not such Credit Party is joined in such action or actions. If this Guaranty is signed by more than one Person, the liability of each such Guarantor is joint and several..
Appears in 2 contracts
Samples: Guaranty (Lodging Fund REIT III, Inc.), Guaranty (Lodging Fund REIT III, Inc.)
