Common use of Payment by Guarantor Clause in Contracts

Payment by Guarantor. In the event of any failure to pay with respect to the Guaranteed Obligations or any “default” or “event of default” under the Note or the other Loan Documents (the terms “default” and “event of default” having the respective meanings given to such terms in the Note and the other Loan Documents), Guarantor agrees to pay on demand, all of the Guaranteed Obligations and all other costs, expenses and other amounts payable under this Guaranty. Lender shall not be required to liquidate any lien or any other form of security, instrument, or note held by Lender prior to making such demand. THIS IS A GUARANTY OF PAYMENT AND NOT OF COLLECTION, and Guarantor specifically agrees that Lender shall not be required to assert any claim, file suit, or proceed to obtain a judgment against Borrower or any other guarantor, endorser or surety for the Guaranteed Obligations, or make any effort at collection of the Guaranteed Obligations, or foreclose against or seek to realize upon any security or collateral now or hereafter existing for the Guaranteed Obligations, or exercise or assert any other right or remedy to which Lender is or may be entitled in connection with the Guaranteed Obligations, before or as a condition of enforcing the liability of Guarantor under this Guaranty or requiring payment of the Guaranteed Obligations under this Guaranty. Guarantor agrees, to the full extent it may legally do so, that suit may be brought against Guarantor with or without making Borrower or any other person or entity a party to such suit, as Lender may elect. Guarantor agrees that Guarantor shall remain fully liable under this Guaranty regardless of whether Borrower is held to be not liable on the Guaranteed Obligations and regardless of whether all or any portion of the Guaranteed Obligations are “non-recourse” or “limited recourse” to Borrower.

Payment by Guarantor. In the event of any failure to pay with respect to the Guaranteed Obligations or any “default” or “event Event of default” Default under the Note or the other Loan Documents (the terms “default” and “event of default” having the respective meanings given to such terms in the Note and the other Loan Documents)Note, Guarantor agrees to pay on demand, all of the Guaranteed Obligations and all other costs, expenses and other amounts payable under this Guaranty. Lender shall not be required to liquidate any lien or any other form of security, instrument, or note held by Lender prior to making such demand. THIS IS A GUARANTY OF PAYMENT AND NOT OF COLLECTION, and Guarantor specifically agrees that Lender shall not be required to assert any claim, file suit, or proceed to obtain a judgment against Borrower or any other guarantor, endorser or surety for the Guaranteed Obligations, or make any effort at collection of the Guaranteed Obligations, or foreclose against or seek to realize upon any security or collateral now or hereafter existing for the Guaranteed Obligations, or exercise or assert any other right or remedy to which Lender is or may be entitled in connection with the Guaranteed Obligations, before or as a condition of enforcing the liability of Guarantor under this Guaranty or requiring payment of the Guaranteed Obligations under this Guaranty. Guarantor agrees, to the full extent it may legally do so, that suit may be brought against Guarantor with or without making Borrower or any other person or entity a party to such suit, as Lender may elect. Guarantor agrees that Guarantor shall remain fully liable under this Guaranty regardless of whether Borrower is held to be not liable on the Guaranteed Obligations and regardless of whether all or any portion of the Guaranteed Obligations are “non-recourse” or “limited recourse” to Borrower.

Payment by Guarantor. In The Guarantor hereby agrees, in furtherance of the event foregoing and not in limitation of any other right which any Secured Party may have at law or in equity against any Person, that upon the failure of any Borrower to pay with respect to the Guaranteed Obligations or in full any “default” or “event of default” under the Note or the other Loan Documents (the terms “default” and “event of default” having the respective meanings given to such terms in the Note and the other Loan Documents), Guarantor agrees to pay on demand, all of the Guaranteed Obligations when and as the same shall become due (after giving effect to any applicable grace periods), whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code or any other Debtor Relief Law), the Guarantor will promptly pay, or cause to be paid, in cash to the Agent for the ratable benefit of Secured Parties without any demand or notice whatsoever, an amount equal to the full unpaid principal amount of all Guaranteed Obligations then due as aforesaid, accrued and unpaid interest on such Guaranteed Obligations (including interest which, but for any Borrower becoming the subject of a case under the Bankruptcy Code or any other Debtor Relief Law, would have accrued on such Guaranteed Obligations, whether or not a claim is allowed against such Borrower for such interest in the related bankruptcy case) and all other costs, expenses Guaranteed Obligations then owed to Secured Parties as aforesaid and other amounts payable under this Guaranty. Lender shall not be required to liquidate in the case of any lien extension of time of payment or renewal of any other form of security, instrument, or note held by Lender prior to making such demand. THIS IS A GUARANTY OF PAYMENT AND NOT OF COLLECTION, and Guarantor specifically agrees that Lender shall not be required to assert any claim, file suit, or proceed to obtain a judgment against Borrower or any other guarantor, endorser or surety for the Guaranteed Obligations, or make any effort at collection of the Guaranteed Obligations, the same will be promptly paid in full when due (whether at extended maturity, by acceleration or foreclose against otherwise) in accordance with the terms of such extension or seek to realize upon renewal. Any payment made in accordance with this section shall be without defense, recoupment, setoff or counterclaim, free of any security restriction or collateral now or hereafter existing for condition (other than Payment in Full of the Guaranteed Obligations, or exercise or assert any other right or remedy to which Lender is or may be entitled in connection with the Guaranteed Obligations, before or as a condition of enforcing the liability of Guarantor under this Guaranty or requiring payment of the Guaranteed Obligations under this Guaranty. Guarantor agrees, to the full extent it may legally do so, that suit may be brought against Guarantor with or without making Borrower or any other person or entity a party to such suit, as Lender may elect. Guarantor agrees that Guarantor shall remain fully liable under this Guaranty regardless of whether Borrower is held to be not liable on the Guaranteed Obligations and regardless of whether all or any portion of the Guaranteed Obligations are “non-recourse” or “limited recourse” to Borrower).

Payment by Guarantor. In the event If all or any part of any failure to pay with respect to the Guaranteed Obligations shall not be immediately paid when due, whether at demand, maturity, acceleration or otherwise, Guarantor shall, immediately upon demand by Agent or Lender and without presentment, protest, notice of protest, notice of non-payment, notice of intention to accelerate the maturity, notice of acceleration of the maturity or any “default” or “event of default” under the Note or the other Loan Documents (the terms “default” and “event of default” having the respective meanings given to such terms in the Note and the other Loan Documents), Guarantor agrees to pay on demandnotice whatsoever, all such notices being hereby waived by Guarantor, pay in lawful money of the United States of America, the amount due on the Guaranteed Obligations to Lender or Agent at Lender’s or Agent’s address as set forth herein. Such demand(s) may be made at any time coincident with or after the time for payment of all or part of the Guaranteed Obligations and may be made from time to time with respect to the same or different items of Guaranteed Obligations. Such demand shall be deemed made, given and received in accordance with the notice provisions hereof. Upon the commencement of a case under the Bankruptcy Code with respect to Borrower which qualifies as a Springing Recourse Event, this Guaranty shall become immediately due and payable without demand (which demand is specifically waived) against Guarantor or Borrower with regard to all other costs, expenses Guaranteed Obligations. Upon the commencement of a case under the Bankruptcy Code with respect to Borrower that does not qualify as a Springing Recourse Event the Guaranteed Obligations constituting Section 9.4 Obligations under clause (i) and other amounts (iii) of such definition (as defined in the Loan Agreement) but not under clause (ii) of such definition shall become immediately due and payable without demand (which demand is specifically waived) against Guarantor or Borrower with respect to all such clause (i) and clause (ii) obligations that are then or thereafter outstanding and unpaid. If Guarantor’s liability under this Guaranty. Lender shall not be required to liquidate any lien or any other form Section arises as a result of security, instrument, or note held by Lender prior to making such demand. THIS IS A GUARANTY OF PAYMENT AND NOT OF COLLECTION, and Guarantor specifically agrees that Lender shall not be required to assert any claim, file suit, or proceed to obtain a judgment an involuntary bankruptcy proceeding commenced against Borrower or Guarantor and such involuntary bankruptcy proceeding does not otherwise constitute a Springing Recourse Event, then, if such involuntary bankruptcy proceeding is dismissed within ninety (90) days, Guarantor shall be relieved of any other guarantor, endorser or surety for the Guaranteed Obligations, or make any effort at collection of the Guaranteed Obligations, or foreclose against or seek to realize upon any security or collateral now or hereafter existing for the Guaranteed Obligations, or exercise or assert any other right or remedy to which Lender is or may be entitled in connection with the Guaranteed Obligations, before or liability that arose solely as a condition result of enforcing the liability of Guarantor under this Guaranty or requiring payment of the Guaranteed Obligations under this Guaranty. Guarantor agrees, to the full extent it may legally do so, that suit may be brought against Guarantor with or without making Borrower or any other person or entity a party to such suit, as Lender may elect. Guarantor agrees that Guarantor shall remain fully liable under this Guaranty regardless of whether Borrower is held to be not liable on the Guaranteed Obligations and regardless of whether all or any portion of the Guaranteed Obligations are “non-recourse” or “limited recourse” to Borrowerinvoluntary bankruptcy proceeding.

Payment by Guarantor. In the event If all or any part of any failure to pay with respect to the Guaranteed Obligations shall not be immediately paid when due, whether at demand, maturity, acceleration or otherwise, Guarantor shall, immediately upon demand by Agent or Lender and without presentment, protest, notice of protest, notice of non-payment, notice of intention to accelerate the maturity, notice of acceleration of the maturity or any “default” or “event of default” under the Note or the other Loan Documents (the terms “default” and “event of default” having the respective meanings given to such terms in the Note and the other Loan Documents), Guarantor agrees to pay on demandnotice whatsoever, all such notices being hereby waived by Guarantor, pay in lawful money of the United States of America, the amount due on the Guaranteed Obligations to Lender or Agent at Lender’s or Agent’s address as set forth herein. Such demand(s) may be made at any time coincident with or after the time for payment of all or part of the Guaranteed Obligations and all other costsmay be made from time to time with respect to the same or different items of Guaranteed Obligations. Such demand shall be deemed made, expenses given and other amounts payable received in accordance with the notice provisions hereof. In the event Borrower or Guarantor commences a case under this Guaranty. Lender shall not be required to liquidate any lien the Bankruptcy Code or any other form of security, instrument, or note held by Lender prior to making such demand. THIS IS A GUARANTY OF PAYMENT AND NOT OF COLLECTION, and Guarantor specifically agrees that Lender shall not be required to assert any claim, file suit, or proceed to obtain a judgment an involuntary petition under the Bankruptcy Code is filed against Borrower or any other guarantorGuarantor, endorser or surety for the Guaranteed Obligations, or make any effort at collection of the Guaranteed Obligations, or foreclose against or seek to realize upon any security or collateral now or hereafter existing for the Guaranteed Obligations, or exercise or assert any other right or remedy to which Lender is or may be entitled in connection with the Guaranteed Obligations, before or as a condition of enforcing the liability of Guarantor under then this Guaranty or requiring payment of the Guaranteed Obligations under this Guaranty. Guarantor agrees, to the full extent it may legally do so, that suit may be brought shall become immediately due and payable without demand (which demand is specifically waived) against Guarantor with or without making regard to all Guaranteed Obligations. If Guarantor’s liability under this Section arises as a result of an involuntary bankruptcy proceeding commenced against Borrower or any other person or entity Guarantor and such involuntary bankruptcy proceeding does not otherwise constitute a party to Springing Recourse Event, then, if such suitinvoluntary bankruptcy proceeding is dismissed within ninety (90) days, as Lender may elect. Guarantor agrees that Guarantor shall remain fully liable under this Guaranty regardless be relieved of whether Borrower is held to be not liable on the Guaranteed Obligations and regardless any liability that arose solely as a result of whether all or any portion of the Guaranteed Obligations are “non-recourse” or “limited recourse” to Borrowersuch involuntary bankruptcy proceeding.

Payment by Guarantor. In the event of any failure to pay with respect to the Guaranteed Obligations or any “default” or “event of default” under the Note or the other Loan Documents (the terms “default” and “event of default” having the respective meanings given to such terms in the Note and the other Loan Documents), Guarantor agrees to pay on demand, all of the Guaranteed Obligations and all other costs, expenses and other amounts payable under this Guaranty. Lender shall not be required to liquidate any lien or any other form of security, instrument, or note held by Lender prior to making such demand. THIS IS A GUARANTY OF PAYMENT AND NOT OF COLLECTION, and Guarantor specifically agrees that Lender shall not be required to assert any claim, file suit, or proceed to obtain a judgment against Borrower or any other guarantor, endorser or surety for the Guaranteed Obligations, or make any effort at collection of the Guaranteed Obligations, or foreclose against or seek to realize upon any security or collateral now or hereafter existing for the Guaranteed Obligations, or exercise or assert any other right or remedy to which Lender is or may be entitled in connection with the Guaranteed Obligations, before or as a condition of enforcing the liability of Guarantor under this Guaranty or requiring payment of the Guaranteed Obligations under this Guaranty. Guarantor agrees, to the full extent it may legally do so, that suit may be brought against Guarantor with or without making Borrower or any other person or entity a party to such suit, as Lender may elect. Guarantor agrees that Guarantor he shall remain fully liable under this Guaranty regardless of whether Borrower is held to be not liable on the Guaranteed Obligations and regardless of whether all or any portion of the Guaranteed Obligations are “non-recourse” or “limited recourse” to Borrower.

Payment by Guarantor. In the event of any failure to pay with respect to the Guaranteed Obligations or any “default” or “event of default” under the Note or Note, subject to the other Loan Documents (the terms “default” and “event provisions of default” having the respective meanings given to such terms in the Note and the other Loan Documents)Section 3, Guarantor agrees to pay on demand, all of the Guaranteed Obligations and all other costs, expenses and other amounts payable under this Guaranty. Lender shall not be required to liquidate any lien or any other form of security, instrument, or note held by Lender prior to making such demand. THIS IS A GUARANTY OF PAYMENT AND NOT OF COLLECTION, and Guarantor specifically agrees that Lender shall not be required to assert any claim, file suit, or proceed to obtain a judgment against Borrower Debtor or any other guarantor, endorser or surety for the Guaranteed Obligations, or make any effort at collection of the Guaranteed Obligations, or foreclose against or seek to realize upon any security or collateral now or hereafter existing for the Guaranteed Obligations, or exercise or assert any other right or remedy to which Lender is or may be entitled in connection with the Guaranteed Obligations, before or as a condition of enforcing the liability of Guarantor under this Guaranty or requiring payment of the Guaranteed Obligations under this Guaranty. Guarantor agrees, to the full extent it may legally do so, that suit may be brought against Guarantor with or without making Borrower Debtor or any other person or entity a party to such suit, as Lender may elect. Guarantor agrees that Guarantor shall remain fully liable under this Guaranty regardless of whether Borrower Debtor is held to be not liable on the Guaranteed Obligations and regardless of whether all or any portion of the Guaranteed Obligations are “non-recourse” or “limited recourse” to BorrowerDebtor.

Payment by Guarantor. In the event of any failure to pay with respect to the Guaranteed Obligations or any “default” or “event of default” under the Note or the other any Loan Documents Document (the terms “default” and “event of default” having the respective meanings given to such terms in the Note and the other Loan Documents), each Guarantor agrees to pay on demand, all of the Guaranteed Obligations and all other costs, expenses and other amounts payable under this Guaranty. Lender shall not be required to liquidate any lien or any other form of security, instrument, or note held by Lender prior to making such demand. THIS IS A GUARANTY OF PAYMENT AND NOT OF COLLECTION, and each Guarantor specifically agrees that Lender shall not be required to assert any claim, file suit, or proceed to obtain a judgment against Borrower Borrowers or any other guarantor, endorser or surety for the Guaranteed Obligations, or make any effort at collection of the Guaranteed Obligations, or foreclose against or seek to realize upon any security or collateral now or hereafter existing for the Guaranteed Obligations, or exercise or assert any other right or remedy to which Lender is or may be entitled in connection with the Guaranteed Obligations, before or as a condition of enforcing the liability of Guarantor Guarantors under this Guaranty or requiring payment of the Guaranteed Obligations under this Guaranty. Each Guarantor agrees, to the full extent it may legally do so, that suit may be brought against such Guarantor with or without making Borrower Borrowers or any other person or entity a party to such suit, as Lender may elect. Each Guarantor agrees that such Guarantor shall remain fully liable under this Guaranty regardless of whether any Borrower is held to be not liable on the Guaranteed Obligations and regardless of whether all or any portion of the Guaranteed Obligations are “non-recourse” or “limited recourse” to BorrowerBorrowers.