Common use of Other Guarantors Clause in Contracts

Other Guarantors. If there is more than one Guarantor, the obligations under this Guaranty are joint and several. In addition, each Guarantor under this Guaranty shall be jointly and severally liable with any other guarantor of the Liabilities. If the Bank elects to enforce its rights against fewer than all guarantors of the Liabilities, that election does not release the Guarantor from its obligations under this Guaranty. The compromise or release of any of the obligations of any of the other guarantors or the Borrower shall not serve to impair, waive, alter or release the Guarantor’s obligations.

Appears in 4 contracts

Samples: Guaranty Agreement (Frequency Electronics Inc), Continuing Guaranty (Cherokee Inc), Continuing Guaranty (Evans Bob Farms Inc)

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Other Guarantors. If there is more than one Guarantor, the their obligations under this Guaranty are shall be joint and several. In addition, each Guarantor under this Guaranty shall be jointly and severally liable with any other guarantor of any of the Liabilities. If the Bank elects to enforce its rights against fewer less than all guarantors of the Liabilities, that election does shall not release the Guarantor from its obligations under this Guaranty. The compromise or release of any of the obligations of any of the other guarantors or the Borrower shall not serve to impair, waive, alter or release the Guarantor’s obligations's obligations under this Guaranty. This Guaranty is not conditioned on anyone else executing this or any other guaranty.

Appears in 2 contracts

Samples: Continuing Guaranty (Bingham Financial Services Corp), Loan Guaranty (Vsi Holdings Inc)

Other Guarantors. If there is more than one Guarantor, the obligations under this Guaranty are joint and several. In addition, each Guarantor under this Guaranty shall be jointly and severally liable with any other guarantor of the Liabilities. If the Bank Lender elects to enforce its rights against fewer than all guarantors of the Liabilities, that election does not release the Guarantor from its obligations under this Guaranty. The compromise or release of any of the obligations of any of the other guarantors or the Borrower shall not serve to impair, waive, alter or release the Guarantor’s obligations.

Appears in 2 contracts

Samples: Continuing Guaranty (Xhibit Corp.), Continuing Guaranty (Xhibit Corp.)

Other Guarantors. If there is more than one Guarantor, the obligations under this Guaranty are shall be joint and several. In addition, each Guarantor under this Guaranty shall be jointly and severally liable with any other guarantor of the Liabilities. If the Bank Lender elects to enforce its rights against fewer less than all guarantors of the Liabilities, that election does shall not release the Guarantor from its Guarantor's obligations under this Guaranty. The compromise or release of any of the obligations of any of the other guarantors or the Borrower shall not serve to impair, waive, alter or release the Guarantor’s 's obligations.

Appears in 1 contract

Samples: Credit Agreement (Obsidian Enterprises Inc)

Other Guarantors. If there is more than one Guarantor, the obligations under this Guaranty are joint and severalseveral (solidary). In addition, each Guarantor under this Guaranty shall be jointly and severally (solidarily) liable with any other guarantor of the Liabilities. If the Bank elects to enforce its rights against fewer than all guarantors of the Liabilities, that election does not release the Guarantor from its obligations under this Guaranty. The compromise or release of any of the obligations of any of the other guarantors or the Borrower shall not serve to impair, waive, alter or release the Guarantor’s 's obligations.

Appears in 1 contract

Samples: Continuing Guaranty (Blackwater Midstream Corp.)

Other Guarantors. If there is more than one Guarantor, the obligations under this Guaranty are joint and severalseveral (solidary). In addition, each Guarantor under this Guaranty shall be jointly and severally (solidarily) liable with any other guarantor of the Liabilities. If the Bank Agent elects to enforce its rights against fewer than all guarantors of the Liabilities, that election does not release the Guarantor from its obligations under this Guaranty. The compromise or release of any of the obligations of any of the other guarantors or the any Borrower shall not serve to impair, waive, alter or release the Guarantor’s 's obligations.

Appears in 1 contract

Samples: Continuing Guaranty (Platinum Energy Solutions, Inc.)

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Other Guarantors. If there is more than one Guarantor, the obligations under this Guaranty are joint and several. In addition, each Guarantor under this Guaranty shall be jointly and severally liable with any other guarantor of the Liabilities. If the Bank elects to enforce its rights against fewer than all guarantors of the Liabilities, that election does not release the Guarantor from its obligations under this Guaranty. The compromise or release of any of the obligations of any of the other guarantors or the Borrower shall not serve to impair, waive, alter or release the Guarantor’s 's obligations.

Appears in 1 contract

Samples: Continuing Guaranty (Utah Medical Products Inc)

Other Guarantors. If there is more than one Guarantor, the their obligations under this Guaranty are shall be joint and several. In addition, each Guarantor under this Guaranty shall be jointly and severally liable with any other guarantor of any of the Liabilities. If the Bank Lender elects to enforce its rights against fewer less than all guarantors of the Liabilities, that election does shall not release the Guarantor from its obligations under this Guaranty. The compromise or release of any of the obligations of any of the other guarantors or the Borrower shall not serve to impair, waive, alter or release the Guarantor’s obligationsobligations under this Guaranty. This Guaranty is not conditioned on anyone else executing this or any other guaranty.

Appears in 1 contract

Samples: Continuing Guaranty (Advanced Photonix Inc)

Other Guarantors. If there is more than one person or entity signs this Guaranty, their duties and obligations under this Guaranty shall be joint and several. All references to Guarantor shall be to each or any two or more of them. Guarantor, the 's duties and obligations under this Guaranty are joint and several. In addition, each Guarantor under this Guaranty shall be jointly and severally liable several with any other guarantor of the LiabilitiesIndebtedness. If the Bank TRW elects to enforce its rights against fewer than all guarantors of the LiabilitiesIndebtedness, that election does shall not release the Guarantor from its duties and obligations under this Guaranty. The compromise or release of any of the obligations of any of the other guarantors guarantors, or the Borrower SmarTire, shall not serve to impair, waive, alter or release the Guarantor’s 's obligations.

Appears in 1 contract

Samples: Termination Agreement (Smartire Systems Inc)

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