Common use of Primary Obligation Clause in Contracts

Primary Obligation. The obligations of the Guarantors under this Guarantee will be independent primary obligations and not merely those of guarantor or cautioner and if any of the Guaranteed Obligations are not, or cease to be, valid and enforceable for any reason whatever (whether or not known to the Landlords) or for any reason are not recoverable from or capable of performance by the Guarantors under Clause 2 the Guarantors will still be liable to the Landlords in respect of such Guaranteed Obligations as if they were fully valid and enforceable and/or recoverable or capable of performance and the Guarantors were principal debtor in place of the Tenants.

Appears in 5 contracts

Samples: Credit, Security and Guaranty Agreement, Credit, Security and Guaranty Agreement (Quotient LTD), Credit, Security and Guaranty Agreement (Quotient LTD)

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Primary Obligation. The obligations of the Guarantors Guarantor under this Guarantee will be independent primary obligations and not merely those of guarantor or cautioner and if any of the Guaranteed Obligations are not, or cease to be, valid and enforceable for any reason whatever (whether or not known to the LandlordsLandlord) or for any reason are not recoverable from or capable of performance by the Guarantors Guarantor under Clause 2 the Guarantors Guarantor will still be liable to the Landlords Landlord in respect of such Guaranteed Obligations as if they were fully valid and enforceable and/or recoverable or capable of performance and the Guarantors Guarantor were principal debtor in place of the TenantsTenant.

Appears in 1 contract

Samples: Guarantee

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Primary Obligation. The obligations of the Guarantors under this Guarantee will be independent primary obligations and not merely those of guarantor or cautioner and if any of the Guaranteed Obligations are not, or cease to be, be valid and enforceable for any reason whatever (whether or not known to the Landlords) or for any reason are not recoverable from or capable of performance by the Guarantors under Clause 2 the Guarantors will still be liable to the Landlords in respect of such Guaranteed Obligations as if they were fully valid and enforceable and/or recoverable or capable of performance and the Guarantors were principal debtor in place of the Tenants.

Appears in 1 contract

Samples: Guarantee Agreement

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