Common use of Payment of Guaranteed Obligations Clause in Contracts

Payment of Guaranteed Obligations. In the event that any indebtedness of the Borrower under this Agreement is not paid when due, the Guarantor will pay to the Lenders the entire amount of the Borrower’s liability due hereunder (including interest charges to the date of payment) on demand and the Lenders need not first proceed to preserve, utilize or exhaust any other right or remedy against the Borrower or any other Person, or any security the Lenders or the Agent may have to obtain payment. Such payment shall be made to the Agent at the place and in the currency where and in which the indebtedness was incurred. The Guarantor authorizes the Lenders, without notice to or demand on the Guarantor and without affecting the Guarantor’s liability hereunder, from time to time to renew, extend, accelerate, compromise, settle, restructure, refinance, refund or otherwise change the amount and time for payment of the Guaranteed Obligations, or otherwise change the terms of the Guaranteed Obligations or any party thereof, by agreement with the Borrower.

Payment of Guaranteed Obligations. In the event that any indebtedness of the Borrower under this Agreement is not paid when due, the Guarantor will pay to the Lenders the entire amount of the Borrower’s liability due hereunder (including interest charges to the date of payment) on demand and the Lenders need not first proceed to preserve, utilize or exhaust any other right or remedy against the Borrower or any other Person, or any security the Lenders or the Agent may have to obtain payment. Such payment shall be made to the Agent at the place and in the currency where and in which the indebtedness was incurred. The Except as set forth in Section 9.02 hereof, the Guarantor authorizes the Lenders, without notice to or demand on the Guarantor and without affecting the Guarantor’s liability hereunder, from time to time to renew, extend, accelerate, compromise, settle, restructure, refinance, refund or otherwise change the amount and time for payment of the Guaranteed Obligations, or otherwise change the terms of the Guaranteed Obligations or any party part thereof, by agreement with the Borrower.