Common use of Obligations Absolute and Unconditional Clause in Contracts

Obligations Absolute and Unconditional. (a) The obligations of Guarantor hereunder are primary obligations of Guarantor and are an absolute, unconditional, continuing and irrevocable guaranty of payment and not of collectibility or performance and are in no way conditioned on or contingent upon any attempt to enforce in whole or in part Borrower's or the Partners' liabilities and obligations to the Banks. If one or both Partners shall fail to pay any of the Guaranteed Obligations as and when they are due, Guarantor shall forthwith pay such Guaranteed Obligations in immediately available funds, and each such failure by either Partner to pay a Guaranteed Obligation shall give rise to a separate cause of action herewith, and separate suits may be brought hereunder as each cause of action arises.

Obligations Absolute and Unconditional. (a) The obligations of Guarantor hereunder are primary obligations of Guarantor and are an absolute, unconditional, continuing and irrevocable guaranty of payment and not of collectibility or performance and are in no way conditioned on or contingent upon any attempt to enforce in whole or in part Borrower's or the Partners' liabilities and obligations to the Bridge Banks. If one or both Partners Borrower shall fail to pay any of the Guaranteed Obligations as and when they are due, Guarantor shall forthwith pay such Guaranteed Obligations in immediately available funds, and each such failure by either Partner Borrower to pay a Guaranteed Obligation shall give rise to a separate cause of action herewith, and separate suits may be brought hereunder as each cause of action arises.