Common use of Proof of Guarantor Clause in Contracts

Proof of Guarantor. If the Guarantor (whether required by the Lender or otherwise) proves in its own name in the dissolution of the Borrower, any Guarantor or of any other person who has given any security to the Lender for any Guaranteed Indebtedness, for all or any part of any Indebtedness due from the Borrower, any Guarantor or such other person to the Guarantor, the Guarantor shall pay to the Lender all amounts received by it in relation to any such proof (and all interest accruing on such amounts). Pending such payment, the Guarantor shall hold the benefit of that proof and all such amounts and interest on trust for the Lender.