Common use of PROVIDER PROTECTIONS Clause in Contracts

PROVIDER PROTECTIONS. 3.1 This guarantee is and shall at all times be a continuing security and shall cover the ultimate balance from time to time owing to the Provider by the Resident in respect of the Guaranteed Obligations. 3.2 The liability of the Guarantor under this guarantee shall not be reduced, discharged or otherwise adversely affected by: (a) any intermediate payment, settlement of account or discharge in whole or in part of the Guaranteed Obligations; (b) any variation, extension, discharge, compromise, dealing with, exchange or renewal of any right or remedy which the Provider may now or after the date of this guarantee have from or against any of the Resident and any other person in connection with the Guaranteed Obligations; (c) any act or omission by the Provider or any other person in taking up, perfecting or enforcing any Security, indemnity, or guarantee from or against the Resident or any other person; (d) any termination, amendment, variation, novation, replacement or supplement of or to any of the Guaranteed Obligations including without limitation any change in the purpose of, any increase in or extension of the Guaranteed Obligations and any addition of new Guaranteed Obligations; (e) any grant of time, indulgence, waiver or concession to the Resident or any other person; (f) any insolvency, bankruptcy, liquidation, administration, winding up, incapacity, limitation, disability, the discharge by operation of law, or any change in the constitution, name or style of the Resident or any other person; (g) the death or incapacity (whether mental or physical) of the Guarantor, or any notice of his or her death or incapacity; or (h) any invalidity, illegality, unenforceability, irregularity or frustration of any actual or purported obligation of, or Security held from, the Resident or any other person in connection with the Guaranteed Obligations; (k) any claim or enforcement of payment from the Resident or any other person; or any act or omission which would not have discharged or affected the liability of the Guarantor had he or she been a principal debtor instead of a guarantor; or any other act or omission except an express written release by deed of the Guarantor by the Provider. 3.3 The Provider shall not be obliged, before taking steps to enforce any of its rights and remedies under this guarantee, to: (a) take any action or obtain judgment in any court against the Resident or any other person; (b) make or file any claim in a bankruptcy, liquidation, administration or insolvency of the Resident or any other person; or (c) make demand, enforce or seek to enforce any claim, right or remedy against the Resident or any other person. 3.4 The Guarantor warrants to the Provider that he or she has not taken or received, and shall not take, exercise or receive the benefit of any Rights from or against the Resident in connection with any liability of, or payment by, the Guarantor under this guarantee but: (a) if any of the Rights are taken, exercised or received by the Guarantor, those Rights and all monies at any time received or held in respect of those Rights shall be held by the Guarantor on trust for the Provider for application in or towards the discharge of the Guaranteed Obligations under this guarantee; and (b) on demand by the Provider, the Guarantor shall promptly transfer, assign or pay to the Provider all other Rights and all monies from time to time held on trust by the Guarantor under this Clause 3.4.