Common use of Primary Liability of Guarantor Clause in Contracts

Primary Liability of Guarantor. Each Guarantor agrees that Beneficiary may enforce this Guaranty without the necessity at any time of resorting to or exhausting any other security or collateral, provided that Beneficiary shall not make a demand from either Guarantor unless making an equivalent demand to the other Guarantor and Beneficiary shall not make a demand from either Guarantor for all or any portion of any payment or performance that has previously been demanded from the other Guarantor. This is a guaranty of payment when and as due and not merely of collection.

Primary Liability of Guarantor. Each Guarantor agrees that the Beneficiary may enforce this Guaranty without the necessity at any time of resorting to or exhausting any other security or collateral, provided that Beneficiary shall not make a demand from either Guarantor unless making an equivalent demand collateral (except to the other Guarantor and Beneficiary shall not make a demand from either Guarantor for all or any portion extent otherwise provided in Section 4.02 of any payment or performance that has previously been demanded from the other GuarantorDepositary Agreement). This is a guaranty continuing Guaranty of payment when (and as due not of performance) and not merely of collection.

Primary Liability of Guarantor. Each The Guarantor agrees that Beneficiary Creditor may enforce this Guaranty without the necessity at any time of resorting to to, foreclosing upon or exhausting any other security or collateral, provided that Beneficiary shall not make a demand from either Guarantor unless making an equivalent demand collateral and regardless of whether Creditor has taken any steps to enforce or pursue any right or remedy against the other Guarantor and Beneficiary shall not make a demand from either Guarantor for all Debtor or any portion of any payment or performance that has previously been demanded from the other Guarantor. This is a guaranty of payment when and as due and not merely of collectionperson.