Common use of PAYMENT UPON DEMAND Clause in Contracts

PAYMENT UPON DEMAND. If a Default exists, Guarantor shall, on demand and without further notice of dishonor and without any notice having been given to any Guarantor previous to that demand of either the acceptance by Administrative Agent or Lenders of this Guaranty or the creation or incurrence of any Guaranteed Debt, pay the amount of the Guaranteed Debt then due and payable to Administrative Agent and Lenders, subject to PARAGRAPH 3 above. It is not necessary for Administrative Agent or Lenders, in order to enforce that payment by any Guarantor, first or contemporaneously to institute suit or exhaust remedies against Borrower or others liable on any Guaranteed Debt or to enforce Rights against any collateral securing any Guaranteed Debt.

Appears in 2 contracts

Samples: Quarterly Report (Intermedia Communications Inc), Guaranty (Digex Inc/De)

AutoNDA by SimpleDocs

PAYMENT UPON DEMAND. If a Default exists, Guarantor shall, on demand and without further notice of dishonor and without any notice having been given to any Guarantor previous to that demand of either the acceptance by Administrative Agent or Lenders of this Guaranty or the creation or incurrence of any Guaranteed Debt, pay the amount of the Guaranteed Debt then due and payable to Administrative Agent and Lenders, subject to PARAGRAPH 3 above. It is not necessary for Administrative Agent or Lenders, in order to enforce that payment by any Guarantor, first or contemporaneously to institute suit or exhaust remedies against Borrower or others liable on any Guaranteed Debt or to enforce Rights against any collateral Collateral securing any Guaranteed Debt.

Appears in 2 contracts

Samples: Credit Agreement (Dobson Communications Corp), Credit Agreement (Dobson Sygnet Communications Co)

PAYMENT UPON DEMAND. If a Default exists, each Guarantor shall, shall -- on demand and without further notice of dishonor and without any notice having been given to any Guarantor previous to that demand of either the acceptance by Administrative Agent or Lenders of this Guaranty guaranty or the creation or incurrence of any Guaranteed Debt, Debt -- pay the amount of the Guaranteed Debt then due and payable to Administrative Agent and for Lenders, subject to PARAGRAPH 3 above. It is not necessary for Administrative Agent or Lenders, in order to enforce that payment by any Guarantor, first or contemporaneously to institute suit or exhaust remedies against Borrower or others liable on any Guaranteed Debt or to enforce Rights against any collateral securing any Guaranteed Debt.

Appears in 1 contract

Samples: Guaranty (Xplor Energy Inc)

PAYMENT UPON DEMAND. If a an Event of Default existsexists and is continuing, Guarantor shall, on demand and without further notice of dishonor and without any notice having been given to any Guarantor previous to that demand of either the acceptance by Administrative Agent or Lenders Lender of this Guaranty or the creation or incurrence of any Guaranteed Debt, pay the amount of the Guaranteed Debt then due and payable to Administrative Agent and Lenders, subject to PARAGRAPH 3 aboveLender. It is not necessary for Administrative Agent or LendersLender, in order to enforce that payment by any Guarantor, first or contemporaneously to institute suit or exhaust remedies against Borrower or others liable on any Guaranteed Debt or to enforce Rights rights against any collateral securing any Guaranteed Debt.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Tandy Brands Accessories Inc)

PAYMENT UPON DEMAND. If a Default exists, each Guarantor shall, shall (on ------------------- demand and without further notice of dishonor and without any notice having been given to any Guarantor previous to that demand of either the acceptance by Administrative Agent or Lenders of this Guaranty guaranty or the creation or incurrence of any Guaranteed Debt, ) pay the amount of the Guaranteed Debt then due and payable to Administrative Agent and Lenders, subject to PARAGRAPH 3 above. It is not necessary for Administrative Agent or Lenders, in order to enforce that payment by any Guarantor, first or contemporaneously contempo raneously to institute suit or exhaust remedies against Borrower or others liable on any Guaranteed Debt that indebtedness or to enforce Rights against any collateral securing any Guaranteed Debtthat indebtedness.

Appears in 1 contract

Samples: Credit Agreement (Matrix Bancorp Capital Trust I)

PAYMENT UPON DEMAND. If a Default exists, each Guarantor shall, shall -- on demand and without further notice of dishonor and without any notice having been given to any Guarantor previous to that demand of either the acceptance by Administrative Agent or Lenders of this Guaranty guaranty or the creation or incurrence of any Guaranteed Debt, Debt -- pay the amount of the Guaranteed Debt then due and payable to Administrative Agent and Lenders, subject to PARAGRAPH 3 above. It is not necessary for Administrative Agent or Lenders, in order to enforce that payment by any Guarantor, first or contemporaneously to institute suit or exhaust remedies against Borrower or others liable on any Guaranteed Debt or to enforce Rights against any collateral securing any Guaranteed Debt.

Appears in 1 contract

Samples: Credit Agreement (Pillowtex Corp)

AutoNDA by SimpleDocs

PAYMENT UPON DEMAND. If a an Event of Default exists, Guarantor shall, shall -- on demand and without further notice of dishonor and without any notice having been given to any Guarantor previous to that demand of either the acceptance by Administrative Agent or Lenders of this Guaranty guaranty or the creation or incurrence of any Guaranteed Debt, Debt -- pay the amount of the Guaranteed Debt then due and payable to Administrative Agent and Lenders, subject to PARAGRAPH 3 above. It is not necessary for Administrative Agent or Lenders, in order to enforce that payment by any Guarantor, first or contemporaneously to institute suit or exhaust remedies against Borrower or others liable on any Guaranteed Debt that indebtedness or to enforce Rights against any collateral securing any Guaranteed Debtthat indebtedness.

Appears in 1 contract

Samples: Credit Agreement (Cfi Mortgage Inc)

PAYMENT UPON DEMAND. If a Default exists, [each] Guarantor shall, on demand and without further notice of dishonor and without any notice having been given to any [any] Guarantor previous to that demand of either the acceptance by Administrative Agent or Lenders of this Guaranty or the creation or incurrence of any Guaranteed Debt, pay the amount of the Guaranteed Debt then due and payable to Administrative Agent and Lenders, subject to PARAGRAPH 3 above. It is not necessary for Administrative Agent or Lenders, in order to enforce that payment by any [any] Guarantor, first or contemporaneously to institute suit or exhaust remedies against Borrower or others liable on any Guaranteed Debt or to enforce Rights against any collateral securing any Guaranteed Debt.

Appears in 1 contract

Samples: Revolving Credit Agreement (Pier 1 Imports Inc/De)

PAYMENT UPON DEMAND. If a Default exists, Guarantor shall, shall -- on demand and without further notice of dishonor and without any notice having been given to any Guarantor previous to that demand of either the acceptance by Administrative Agent or Lenders of this Guaranty guaranty or the creation or incurrence of any Guaranteed Debt, Debt -- pay the amount of the Guaranteed Debt then due and payable to Administrative Agent and for Lenders, subject to PARAGRAPH 3 above. It is not necessary for Administrative Agent or Lenders, in order to enforce that payment by any Guarantor, first or contemporaneously to institute suit or exhaust remedies against Borrower or others liable on any Guaranteed Debt or to enforce Rights against any collateral securing any Guaranteed Debt.

Appears in 1 contract

Samples: Guaranty (Magnetek Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!