Common use of Preservation of Guarantor’s Liability Clause in Contracts

Preservation of Guarantor’s Liability. 7.3.1 The Banks may without either Guarantor's consent and without notice to either Guarantor and without in any way releasing or reducing the Guarantors' Liabilities:- (a) amend, novate, supplement or replace all or any of the Borrower's Security Documents; (b) increase or reduce the amount of the Facility or vary the terms and conditions for its repayment or prepayment (including, without limitation, the rate and/or method of calculation of interest payable on the Facility); (c) allow to the Borrower or to any other person any time or other indulgence; (d) renew, vary, release or refrain from enforcing any of the Borrower's Security Documents or any other security, guarantee or indemnity which the Agent may now or in the future hold from the Borrower or from any other person; (e) compound with the Borrower or any other person; (f) enter into, renew, vary or terminate any other agreement or arrangement with the Borrower or any other person; or (g) make any concession to the Borrower or do or omit or neglect to do anything which might, but for this provision, operate to release or reduce the liability of either Guarantor under the Guarantee. 7.3.2 The liability of the Guarantors under the Guarantee shall not be affected by:- (a) the absence of or any defective, excessive or irregular exercise of any of the powers of the Borrower or of any Surety; (b) any security given or payment made to the Finance Parties or any of them by the Borrower or any other person being avoided or reduced under any law (whether English or foreign) relating to bankruptcy or insolvency or analogous circumstance in force from time to time; (c) the liquidation, administration, receivership or insolvency of either Guarantor; (d) any other security, guarantee or indemnity now or in the future held by the Finance Parties or any of them being defective, void or unenforceable, or the failure of the any Finance Party to take any security, guarantee or indemnity; (e) any compromise or arrangement under Part I or Part VII of the Insolvency Xxx 0000 or section 425 of the Companies Xxx 0000 (or any statutory modification or re-enactment of either of them for the time being in force) or under any analogous provision of any foreign law; (f) the novation of any of the Borrower's Obligations; (g) anything which would not have released or reduced the liability of the Guarantors to the Finance Parties had the liability of the Guarantors under Clause 7.1.1 been as principal debtors of the Finance Parties and not as guarantors.

Preservation of Guarantor’s Liability. 7.3.1 The Banks may without either Guarantor's consent liability under clauses 6.2.1 and without notice to either Guarantor and without in any way releasing or reducing the Guarantors' Liabilities:- (a) amend, novate, supplement or replace all or any of the Borrower's Security Documents; (b) increase or reduce the amount of the Facility or vary the terms and conditions for its repayment or prepayment (including, without limitation, the rate and/or method of calculation of interest payable on the Facility); (c) allow to the Borrower or to any other person any time or other indulgence; (d) renew, vary, release or refrain from enforcing any of the Borrower's Security Documents or any other security, guarantee or indemnity which the Agent may now or in the future hold from the Borrower or from any other person; (e) compound with the Borrower or any other person; (f) enter into, renew, vary or terminate any other agreement or arrangement with the Borrower or any other person; or (g) make any concession to the Borrower or do or omit or neglect to do anything which might, but for this provision, operate to release or reduce the liability of either Guarantor under the Guarantee. 7.3.2 The liability of the Guarantors under the Guarantee 6.2.2 shall not be affected by:-by: (a) 6.3.1 any time or indulgence granted to the absence of Tenant or any defectivecompromise of the liability of the Tenant or any person comprised in the Tenant; 6.3.2 any failure by the Landlord to obtain or accept payment of rent or other monies or to enforce any of the Tenant's obligations; 6.3.3 any refusal by the Landlord to accept rent or other monies from the Tenant following any default by the Tenant; 6.3.4 the Landlord enforcing any remedy against the Tenant for any failure to comply with its obligations under this Lease; 6.3.5 the Landlord taking, excessive or irregular exercise refraining from taking, any action in connection with any other security held by it in respect of the Tenant's liability under this Lease including the release of any such security; 6.3.6 any release or compromise of the liability of any person comprised in the Guarantor or the grant of any time or concession to any of them; 6.3.7 any legal limitation or disability of the Tenant or any invalidity or irregularity of any of the powers Tenant's obligations under this Lease or any unenforceability of the Borrower or of any Surety; (b) any security given or payment made to the Finance Parties or any of them against the Tenant; 6.3.8 the Tenant being dissolved, struck off the register of companies or otherwise ceasing to exist, or, if the Tenant is an individual, by the Borrower Tenant dying or becoming incapable of managing his affairs; 6.3.9 without prejudice to clause 6.4 any disclaimer of the Tenant's liability under this Lease, any forfeiture of this Lease or this Lease being brought to an end in any other way except by surrender or the exercise of any break right; 6.3.10 any agreement with the Tenant or any other person being avoided licence or reduced consent given under this Lease; 6.3.11 any surrender of part of the Premises except that the Guarantor will not be under any law (whether English or foreign) relating liability in relation to bankruptcy or insolvency or analogous circumstance the surrendered part in force from time to timerespect of any period after the surrender; (c) 6.3.12 any review or alteration of the liquidation, administration, receivership or insolvency of either Guarantor;rent payable under this Lease; or (d) any other security, guarantee or indemnity now or in 6.3.13 anything else which without this paragraph would release the future held Guarantor except an express release under seal by the Finance Parties or any of them being defective, void or unenforceable, or the failure of the any Finance Party to take any security, guarantee or indemnity; (e) any compromise or arrangement under Part I or Part VII of the Insolvency Xxx 0000 or section 425 of the Companies Xxx 0000 (or any statutory modification or re-enactment of either of them for the time being in force) or under any analogous provision of any foreign law; (f) the novation of any of the Borrower's Obligations; (g) anything which would not have released or reduced the liability of the Guarantors to the Finance Parties had the liability of the Guarantors under Clause 7.1.1 been as principal debtors of the Finance Parties and not as guarantorsLandlord.

Preservation of Guarantor’s Liability. 7.3.1 11.3.1 The Banks Agent may without either a Guarantor's consent and without notice to either such Guarantor and without in any way releasing or reducing the Obligations of the Guarantors' Liabilities:-: (a) amend, novate, supplement or replace all or any of the Borrower's Security DocumentsFacility Documents to which such Guarantor is not a party; (b) increase or reduce the amount of the Facility or vary the terms and conditions for its repayment or prepayment the issuance of the Bank Guarantees (including, without limitation, the rate and/or method of calculation of interest or commission payable on the Facility); (c) allow to the Borrower Indemnifiers, any other Obligor or to any other person any time or other indulgence; (d) renew, vary, release or refrain from enforcing any of the Borrower's Security Facility Documents or any other security, guarantee or indemnity which the Agent may now or in the future hold from the Borrower Indemnifiers or from any other person; (e) compound or make any other arrangements with the Borrower Indemnifiers or any other Obligor or other person; (f) enter into, renew, vary or terminate any other agreement or arrangement with the Borrower Indemnifiers or any other Obligor or other person; or (g) make any concession to the Borrower Indemnifiers or other Obligor or do or omit or neglect to do anything which might, but for this provision, operate to discharge, release or reduce the liability of either Guarantor the Guarantors under the Guarantee. 7.3.2 11.3.2 The liability of the Guarantors under the Guarantee shall not be affected by:-by: (a) the absence of or any defective, excessive or irregular exercise of any of the powers of the Borrower Indemnifiers or of any Suretyother Obligor; (b) any security given or payment made to the Finance Parties or any of them by the Borrower Indemnifiers or any other person being avoided or reduced under any law (whether English or foreign) relating to bankruptcy or insolvency or analogous circumstance in force from time to time; (c) the liquidation, administration, receivership or insolvency of either Guarantorany Obligor; (d) any other security, guarantee or indemnity now or in the future held by the Finance Parties or any of them being defective, void or unenforceable, or the failure of the any Finance Party to take any security, guarantee or indemnity; (e) any compromise or arrangement under Part I or Part VII of the Insolvency Xxx 0000 Act 1986 or section 425 of the Companies Xxx Act 0000 (or xx any statutory modification or re-enactment of xxxxxxxxx xx either of them for the time being in force) or under any analogous provision of any foreign law; (f) the novation of any of the Borrower's Obligations;; or (g) anything which would not have discharged, released or reduced the liability of the Guarantors any Guarantor to the Finance Parties had the liability of the Guarantors such Guarantor under Clause 7.1.1 11. 1.1 been as a principal debtors debtor of the Finance Parties and not as guarantorsa guarantor.

Preservation of Guarantor’s Liability. 7.3.1 The Banks may without either Neither the Guarantor's consent liability nor the Lessor's rights under this Guarantee and Indemnity or otherwise shall be prejudiced or discharged by any act or omission or the incapacity of any person or any event, circumstance or securities of any description which might otherwise have the effect (whether at law in equity or under statute) of prejudicing, affecting or discharging the liability of the Guarantor hereunder either as a guarantor or principal debtor or as an indemnifier AND without notice to either Guarantor limiting the generality of the foregoing, the Guarantor's liability and without the Lessor's rights hereunder shall not be prejudiced, affected or discharged in any way releasing of the following events or reducing circumstances: 7.4.1 any loss, release or impairment of any securities held in respect of the Guarantors' Liabilities:-Secured Moneys or the Secured Obligations through any act or omission of the Lessor or through any other cause whatsoever; 7.4.2 the granting of any time, credit or any indulgence or concession to or composition with or release or discharge by novation of the Lessee or any Guarantor or any other person whatsoever by the Lessor; 7.4.3 any variation whatsoever of the terms governing the Secured Moneys or the Secured Obligations including without limitation any conditions imposed in respect of advances; 7.4.4 any release, failure or agreement not to sue, variation, exchange, renewal or modification made or any other dealing, act or omission whether constituting a waiver, election, estoppel or otherwise by the Lessor with respect to any person or with respect to any judgment, order for payment of moneys, speciality, instrument (anegotiable or otherwise) amendor other security whatsoever held, novate, supplement recovered or replace enforceable by the Lessor or any obligation or liability whatsoever in respect of all or any of the Borrower's Security Documents; (b) increase Secured Moneys or reduce the amount any or all of the Facility or vary Secured Obligations; AND each of the terms above circumstances shall be construed separately and conditions for its repayment or prepayment (including, without limitation, independently and so as not to limit the rate and/or method meaning of calculation of interest payable on the Facility); (c) allow to the Borrower or to any other person any time or other indulgence; (d) renew, vary, release or refrain from enforcing any of the Borrower's Security Documents or any other security, guarantee or indemnity which the Agent may now or in the future hold from the Borrower or from any other person; (e) compound with the Borrower or any other person; (f) enter into, renew, vary or terminate any other agreement or arrangement with the Borrower or any other person; or (g) make any concession to the Borrower or do or omit or neglect to do anything which might, but for this provision, operate to release or reduce the liability of either Guarantor under the Guaranteelisted circumstance. 7.3.2 The liability of the Guarantors under the Guarantee shall not be affected by:- (a) the absence of or any defective, excessive or irregular exercise of any of the powers of the Borrower or of any Surety; (b) any security given or payment made to the Finance Parties or any of them by the Borrower or any other person being avoided or reduced under any law (whether English or foreign) relating to bankruptcy or insolvency or analogous circumstance in force from time to time; (c) the liquidation, administration, receivership or insolvency of either Guarantor; (d) any other security, guarantee or indemnity now or in the future held by the Finance Parties or any of them being defective, void or unenforceable, or the failure of the any Finance Party to take any security, guarantee or indemnity; (e) any compromise or arrangement under Part I or Part VII of the Insolvency Xxx 0000 or section 425 of the Companies Xxx 0000 (or any statutory modification or re-enactment of either of them for the time being in force) or under any analogous provision of any foreign law; (f) the novation of any of the Borrower's Obligations; (g) anything which would not have released or reduced the liability of the Guarantors to the Finance Parties had the liability of the Guarantors under Clause 7.1.1 been as principal debtors of the Finance Parties and not as guarantors.

Preservation of Guarantor’s Liability. 7.3.1 5.1 The Banks Owners may without either Guarantor's the prior written consent of the Guarantor and without notice to either Guarantor and without in any way releasing or reducing the Guarantors' Liabilities:-Guarantor: (a) amend, novate, renew, vary or supplement the Charter or replace all or release any other security granted in respect of the Borrower's Security DocumentsGuaranteed Obligations; (b) increase or reduce the amount of the Facility or vary the terms and conditions for its repayment or prepayment (including, without limitation, the rate and/or method of calculation of interest payable on the Facility); (c) allow to the Borrower Charterers or to any other person any time or other indulgence; (d) renew, vary, release or refrain from enforcing any of the Borrower's Security Documents or any other security, guarantee or indemnity which the Agent may now or in the future hold from the Borrower or from any other person; (e) compound with the Borrower or any other person; (fc) enter into, renew, vary or terminate any other agreement or arrangement with the Borrower Charterers or any other person; or (gd) make any concession to the Borrower Charterers or do or omit or neglect to do anything which might, but for this provision, operate to release or reduce the liability of either the Guarantor under the this Guarantee. 7.3.2 5.2 The liability and obligations of the Guarantors Guarantor under the this Guarantee shall not be affected by:-by: (a) the absence of of, or any defective, excessive or irregular exercise of of, any of the powers of the Borrower or of any SuretyCharterers; (b) any security given or payment made to the Finance Parties or any of them Owners by the Borrower Charterers or any other person being avoided or reduced under any law (whether English or foreign) relating to bankruptcy or insolvency or analogous circumstance in force from time to time; (c) the liquidation, administration, receivership receivership, insolvency or insolvency similar proceedings of either the Guarantor; (d) the Charter and/or any other security, guarantee or indemnity now or in the future held by the Finance Parties or any of them Owners being defective, void or unenforceable, or the failure of the any Finance Party Owners to take any security, guarantee or indemnity;; or (e) any compromise the assignment, amendment, supplement, extension or arrangement under Part I reinstatement (however fundamental and whether or Part VII of the Insolvency Xxx 0000 or section 425 of the Companies Xxx 0000 (or any statutory modification or re-enactment of either of them for the time being in forcenot more onerous) or under any analogous provision of any foreign law; (f) the novation of any of the Borrower's Guaranteed Obligations; (g) anything which would not have released , or reduced the liability any assignment of the Guarantors to the Finance Parties had the liability of the Guarantors under Clause 7.1.1 been as principal debtors of the Finance Parties and not as guarantorsthis Guarantee.

Preservation of Guarantor’s Liability. 7.3.1 8.3.1 The Banks may without either Guarantor's the Guarantors’ consent and without notice to either Guarantor the Guarantors and without in any way releasing or reducing the Guarantors' ’ Liabilities:- (a) amend, novate, supplement or replace all or any of the Borrower's ’s Security Documents; (b) increase or reduce the amount of the Facility or vary the terms and conditions for its repayment or prepayment (including, without limitation, the rate and/or method of calculation of interest payable on the Facility); (c) allow to the Borrower or to any other person any time or other indulgence; (d) renew, vary, release or refrain from enforcing any of the Borrower's ’s Security Documents or any other security, guarantee or indemnity which the Agent may now or in the future hold from the Borrower or from any other person; (e) compound with the Borrower or any other person; (f) enter into, renew, vary or terminate any other agreement or arrangement with the Borrower or any other person; or (g) make any concession to the Borrower or do or omit or neglect to do anything which might, but for this provision, operate to release or reduce the liability of either Guarantor the Guarantors or any of them under the Guarantee. 7.3.2 8.3.2 The liability of each of the Guarantors under the Guarantee shall not be affected by:- (a) the absence of or any defective, excessive or irregular exercise of any of the powers of the Borrower or of any Surety; (b) any security given or payment made to the Finance Parties or any of them by the Borrower or any other person being avoided or reduced under any law (whether English or foreign) relating to bankruptcy or insolvency or analogous circumstance in force from time to time; (c) the liquidation, administration, receivership or insolvency of either Guarantorany of the Guarantors; (d) any other security, guarantee or indemnity now or in the future held by the Finance Parties or any of them being defective, void or unenforceable, or the failure of the any Finance Party to take any security, guarantee or indemnity; (e) any compromise or arrangement under Part I or Part VII of the Insolvency Xxx 0000 or section 425 of the Companies Xxx 0000 (or any statutory modification or re-enactment of either of them for the time being in force) or under any analogous provision of any foreign law; (f) the novation of any of the Borrower's ’s Obligations; (g) anything which would not have released or reduced the liability of all or any of the Guarantors to the Finance Parties had the liability of each of the Guarantors under Clause 7.1.1 8.1.1 been as a principal debtors debtor of the Finance Parties and not as guarantorsa guarantor.

Preservation of Guarantor’s Liability. 7.3.1 8.3.1 The Banks may without either the Guarantor's consent and without notice to either the Guarantor and without in any way releasing or reducing the Guarantors' Guarantor's Liabilities:- (a) amend, novate, supplement or replace all or any of the Borrower's Security Documents; (b) increase or reduce the amount of the Facility or vary the terms and conditions for its repayment or prepayment (including, without limitation, the rate and/or method of calculation of interest payable on the Facility); (c) allow to the Borrower or to any other person any time or other indulgence; (d) renew, vary, release or refrain from enforcing any of the Borrower's Security Documents or any other security, guarantee or indemnity which the Agent may now or in the future hold from the Borrower or from any other person; (e) compound with the Borrower or any other person; (f) enter into, renew, vary or terminate any other agreement or arrangement with the Borrower or any other person; or (g) make any concession to the Borrower or do or omit or neglect to do anything which might, but for this provision, operate to release or reduce the liability of either the Guarantor under the Guarantee. 7.3.2 8.3.2 The liability of the Guarantors Guarantor under the Guarantee shall not be affected by:- (a) the absence of or any defective, excessive or irregular exercise of any of the powers of the Borrower or of any Surety; (b) any security given or payment made to the Finance Parties or any of them by the Borrower or any other person being avoided or reduced under any law (whether English or foreign) relating to bankruptcy or insolvency or analogous circumstance in force from time to time; (c) the liquidation, administration, receivership or insolvency of either the Guarantor; (d) any other security, guarantee or indemnity now or in the future held by the Finance Parties or any of them being defective, void or unenforceable, or the failure of the any Finance Party to take any security, guarantee or indemnity; (e) any compromise or arrangement under Part I or Part VII of the Insolvency Xxx 0000 or section 425 of the Companies Xxx 0000 (or any statutory modification or re-enactment of either of them for the time being in force) or under any analogous provision of any foreign law; (f) the novation of any of the Borrower's Obligations; (g) anything which would not have released or reduced the liability of the Guarantors Guarantor to the Finance Parties had the liability of the Guarantors Guarantor under Clause 7.1.1 8. 1.1 been as a principal debtors debtor of the Finance Parties and not as guarantorsa guarantor.