Non-Recourse Guaranty. (a) Each Pledgor hereby guarantees to Pledgee, on a non-recourse basis, prompt payment (whether at stated maturity, by acceleration or otherwise) and performance of the Settlement Obligations (the “Guaranty”), it being understood that Pledgee’s sole right to recover from such Pledgor in respect of the Settlement Obligations shall be limited to such Pledgor’s Collateral. No recourse under or with respect to any obligation, covenant or agreement (including, without limitation, the payment of any amounts or any other obligations) of any Pledgor as contained in this Agreement or any other agreement, instrument or document entered into by it pursuant hereto or in connection herewith shall be had against any Pledgor by the enforcement of any assessment or by any legal or equitable proceeding, by virtue of any statute or otherwise, except in each case with respect to such Pledgor’s Collateral.
(b) Each Pledgor hereby waives diligence, presentment, demand for payment, filing of claims with a court in the event of receivership or bankruptcy of any Moyes Party, protest or notice with respect to the Settlement Obligations and all demands whatsoever. Each Pledgor further waives notice of (i) acceptance of this Agreement, (ii) the existence or incurring from time to time of any Settlement Obligations guaranteed hereunder, (iii) the existence of any Event of Default, the making of demand, nonpayment, or the taking of any action by the Pledgee under Settlement Agreement, and (iv) all other notices to which it might be entitled.
(c) Each Pledgor hereby agrees that this Agreement constitutes a guaranty of payment when due and not of collection, and waives any right to require that any resort be had by the Pledgee to seek payment or performance from (i) the Moyes Parties, (ii) any other Pledgor, (iii) any other collateral that may be held for the Settlement Obligations, (iv) any other guaranty of the Settlement Obligations, and (v) any exercise of any other remedy or right that Pledgee may have.
(d) No Pledgor may terminate or revoke its Guaranty. Each Pledgor hereby waives any right it may have to terminate or revoke the continuing nature of its Guaranty or its application to any Settlement Obligations arising after any attempt to terminate its Guaranty.
Non-Recourse Guaranty. The obligations of the Guarantors hereunder are secured by the Collateral Assignment of Partnership Interests, dated as of the date hereof (the "Collateral Assignment"), by the Guarantors in favor of the Seller, and notwithstanding any provision of this Guaranty to the contrary, the Seller's recourse for the collection of the Liabilities shall be limited solely and exclusively to the collateral covered thereby, and no deficiency judgment shall be brought or entered into against either Guarantor or its officers, directors, members, partners, managers, shareholders, incorporators or agents, and no judgment shall be subject to execution upon, or a lien against any property of, either Guarantor or its officers, directors, members, partners, managers, shareholders, incorporators or agents, other than the collateral covered by the Collateral Assignment.
Non-Recourse Guaranty. The Pledgor hereby guarantees, on a non-recourse basis (except as expressly set forth in this Section 3), the prompt payment and performance of all of the Obligations, it being understood that Pledgee’s sole and exclusive recourse against Pledgor shall be limited to the Stock. Pledgor hereby waives any right of subrogation, reimbursement, contribution or similar right against Borrower or any other guarantor in respect of the Obligations.
Non-Recourse Guaranty. The Pledgor hereby irrevocably and unconditionally guaranties to the Agent the full and timely payment and performance of the Senior Secured Obligations, it being the Pledgor's intent that the guaranty set forth in this Section 3 shall be a guaranty of payment and not a guaranty of collection. The guaranty hereunder is a primary and original obligation of the Pledgor and is an absolute, unconditional guaranty of payment and performance which is irrevocable and, to the extent allowed by applicable law, shall remain in full force and effect without respect to future changes in conditions. The Pledgor shall have no right of subrogation, reimbursement or indemnity whatsoever and no right of recourse to or with respect to any assets or property of the Borrower or to any Collateral. The Pledgors liability under this Lenfxxx Xxxdge -3- 354 Agreement, and the rights and remedies of Agent hereunder, shall be immediate and shall not be contingent upon the exercise or enforcement by Agent of whatever remedies it may have against the Borrower or others or the enforcement of any lien or the realization upon any security that Agent may at any time possess. Notwithstanding the foregoing paragraph, the recourse of Agent in respect of the guaranty of the Pledgor set forth in this Section 3 is limited to the Pledgor's interest in the Collateral. However, this paragraph shall not limit Agent's rights against the Pledgor as a result of any breach by the Pledgor of any representation, warranty or covenant of the Pledgor set forth in this Lenfxxx Xxxdge Agreement.
Non-Recourse Guaranty. 61 SECTION 11.02.
Non-Recourse Guaranty. Pledgor hereby guarantees to --------------------- Lender, on a non-recourse basis, prompt payment (whether at stated maturity, by acceleration or otherwise) and performance of the Secured Obligations, it being understood that Lender's sole recourse against Pledgor shall be limited to the Pledged Collateral. Pledgor hereby waives any right of subrogation, reimbursement, contribution or any similar right against Borrower or any other guarantor in respect of the Secured Obligations.
Non-Recourse Guaranty. The Pledgor agrees as follows:
(a) The Pledgor hereby guarantees to each Lender, the Issuing Lender and the Administrative Agent and their respective successors and assigns the prompt payment in full when due (whether at stated maturity, by acceleration or otherwise) of the principal of and interest on the Loans made by the Lenders to the Borrower, all LC Disbursements and all other amounts from time to time owing to the Lenders, the Issuing Lender or the Administrative Agent by the Borrower hereunder or under any other Loan Document, and all obligations of the Borrower to any Lender under any Hedging Agreement, in each case strictly in accordance with the terms thereof (such obligations being herein collectively called the "SECURED OBLIGATIONS"
Non-Recourse Guaranty. The Pledgor hereby irrevocably and unconditionally guaranties to the Agent the full and timely payment and performance of the Senior Secured Obligations, it being the Pledgor's intent that the guaranty set forth in this Section 3 shall be a guaranty of payment and not a guaranty of collection. The guaranty hereunder is a primary and original obligation of the Pledgor and is an absolute, unconditional guaranty of payment and performance which is irrevocable and, to the extent allowed by applicable law, shall remain in full force and effect Notwithstanding the foregoing paragraph, the recourse of Agent in respect of the guaranty of the Pledgor set forth in this Section 3 is limited to the Pledgor's interest in the Collateral. However, this paragraph shall not limit Agent's rights against the Pledgor as a result of any breach by the Pledgor of any representation, warranty or covenant of the Pledgor set forth in this SPC Pledge Agreement.
Non-Recourse Guaranty. Each Pledgor hereby irrevocably and unconditionally guaranties to the Agent the full and timely payment and performance of the Senior Secured Obligations, it being each Pledgor's intent that the guaranty set forth in this Section 3 shall be a guaranty of payment and not a guaranty of collection. The guaranty hereunder is a primary and original obligation of each Pledgor and is an Notwithstanding the foregoing paragraph, the recourse of Agent in respect of the guaranty of each Pledgor set forth in this Section 3 is limited to such Pledgor's interest in the Collateral. However, this paragraph shall not limit Agent's rights against any Pledgor as a result of any breach by such Pledgor of any representation, warranty or covenant of such Pledgor set forth in this Other Shareholder Pledge Agreement.
Non-Recourse Guaranty a non-recourse guaranty agreement to be hereafter executed and delivered by the Non-Recourse Guarantor in favor of Agent in which Non-Recourse Guarantor guaranties the Obligations with recourse by Agent only to the Equity Interests in any Loan Party held by the Non-Recourse Guarantor. Notes - each Revolver Note or other promissory note executed by a Borrower to evidence any Obligations.
