Common use of Principal Debtor Clause in Contracts

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.