Principal Debtor. Each Borrower declares that it is and will, throughout the Security Period, remain a principal debtor for all amounts owing under this Agreement and the Finance Documents and no Borrower shall, in any circumstances, be construed to be a surety for the obligations of any other Borrower under this Agreement.
Principal Debtor. Any amounts which may not be recoverable from any Guarantor as guarantor under this Agreement shall be recoverable from such Guarantor as principal debtor in respect thereof and shall be paid to the Noteholders by such Guarantor after demand therefor.
Principal Debtor. Each Guarantor declares that it is and will, throughout the Security Period, remain a principal debtor for all amounts owing under this Agreement and the Finance Documents and no Guarantor shall, in any circumstances, be construed to be a surety for the obligations of the other Guarantor under this Agreement.
Principal Debtor. All moneys and liabilities (whether matured or unmatured, present or future, direct or indirect, absolute or contingent) obtained from CIBC will be deemed to form part of the Customer's Debts, notwithstanding the occurrence of any one or more of the events described in Section 10(k). I will pay CIBC as principal debtor any amount that CIBC cannot recover from me as Guarantor immediately following demand as provided in this Guarantee.
Principal Debtor. Each Guarantor shall be deemed to be liable for the Guaranteed Amounts as a sole or principal debtor.
Principal Debtor. All moneys and liabilities (whether matured or unmatured, present or future, direct or indirect, absolute or contingent) obtained from Simplii Financial will be deemed to form part of the Customer's Debts, notwithstanding the occurrence of any one or more of the events described in Section 10(k). I will pay Simplii Financial as principal debtor any amount that Simplii Financial cannot recover from me as Guarantor immediately following demand as provided in this Guarantee.
Principal Debtor. As a separate and independent obligation under this deed the Guarantor agrees that if any sum or obligation expressed to be guaranteed under this deed is not recoverable from or enforceable against the Guarantor or any sum expressed to be due under obligations is not recoverable from the Guarantor on the basis of a guarantee (for whatever reason), the Guarantor shall be liable as sole or principal debtor in respect of such sum or obligation which shall be paid, performed or complied with by the Guarantor on demand.
Principal Debtor. 19.1 Although, as between Us and the Customer, We are sureties, that is, persons who have agreed to be responsible for the liabilities and obligations of the Customer, We agree that, as between You and Us, We are to be deemed and to be treated in every way as principal debtors in respect of all the moneys, liabilities and obligations guaranteed by this Guarantee. We therefore also agree that Our liability under this Guarantee shall not be discharged or affected in any way whatsoever by anything whatsoever which would not discharge Our liability if We had in fact been the principal debtors.
Principal Debtor. The Guarantor agrees to be bound as principal debtor and the Guarantor’s liability shall not be affected by any delay or other concession which may be granted to the Customer by Eclipx, or any compromise which Eclipx may reach with the Customer or by the release or variation of any security held by Eclipx in respect of the Customer.
Principal Debtor. The guarantor shall be deemed to be a principal debtor, jointly and severally liable with the owner, to discharge the obligations referred to in Clause 1.
