Common use of Right of Revocation Clause in Contracts

Right of Revocation. Guarantor understands and agrees that Guarantor may revoke its future obligations under this Guaranty at any time by giving Bank written notice that Guarantor will not be liable hereunder for any indebtedness or obligations of Borrower incurred on or after the effective date of such revocation. Such revocation shall be deemed to be effective on the day following the day Bank receives such notice delivered either by: (a) personal delivery to the address and designated department of Bank identified in subparagraph 1(a) above, or (b) United States mail, registered or certified, return receipt requested, postage prepaid, addressed to Bank at the address shown in subparagraph 1 (a) above. Notwithstanding such revocation, Guarantor shall remain liable on its obligations hereunder until payment in full to Bank of (x) all of the Guaranteed Indebtedness that is outstanding on the effective date of such revocation, and any renewals and extensions thereof, and (y) all loans, advances and other extensions of credit made to or for the account of Borrower on or after the effective date of such revocation pursuant to the obligation of Bank under a commitment or agreement made to or with Borrower prior to the effective date of such revocation. The terms and conditions of this Guaranty, including without limitation the consents and waivers set forth in paragraph 7 hereof, shall remain in effect with respect to the Guaranteed Indebtedness described in the preceding sentence in the same manner as if such revocation had not been made by Guarantor.

Appears in 2 contracts

Samples: Guaranty (Stratus Properties Inc), Stock Purchase Agreement (Gainsco Inc)

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Right of Revocation. Guarantor understands and agrees that Guarantor may revoke its future obligations under this Guaranty at any time by giving Bank Lender written notice that Guarantor will not be liable hereunder for any indebtedness or obligations of Borrower incurred on or after the effective date of such revocation. Such revocation shall be deemed to be effective on the day following the day Bank Lender receives such notice delivered either by: (a) personal delivery to the address and designated department of Bank Lender identified in subparagraph Subparagraph 1(a) above, or (b) United States mail, registered or certified, return receipt requested, postage prepaid, addressed to Bank Lender at the address shown in subparagraph 1 (aSubparagraph 1(a) above. Notwithstanding such revocation, Guarantor shall remain liable on its obligations hereunder until payment in full to Bank Lender of (xa) all of the Guaranteed Indebtedness that is outstanding on the effective date of such revocation, and any renewals and extensions thereof, and (yb) all loans, advances and other extensions of credit made to or for the account of Borrower on or after the effective date of such revocation pursuant to the obligation of Bank Lender under a commitment or agreement made to or with Borrower prior to the effective date of such revocation. The terms and conditions of this Guaranty, including without limitation the consents and waivers set forth in paragraph 7 Paragraph 6 hereof, shall remain in effect with respect to the Guaranteed Indebtedness described in the preceding sentence in the same manner as if such revocation had not been made by Guarantor. EXECUTED as of the date first above written. ASCENT ASSURANCE, INC. By: /s/ Xxxxxxx X. Xxxxxx Print Name: Xxxxxxx X. Xxxxxx Print Title: SVP & CFO THIS GUARANTY AGREEMENT (“Guaranty”) is made as of December 31, 2003, by Guarantor (as hereinafter defined) for the benefit of Lender (as hereinafter defined).

Appears in 1 contract

Samples: Credit Agreement (Ascent Assurance Inc)

Right of Revocation. Guarantor understands and agrees that Guarantor may revoke its future obligations under this Guaranty at any time by giving Bank written notice that Guarantor will not be liable hereunder for any indebtedness or obligations of Borrower incurred on or after the effective date of such revocation. Such revocation shall be deemed to be effective on the day following the day Bank receives such notice delivered either by: delivered (a) personal delivery to the address and designated department of Bank identified in subparagraph 1(al(a) above, or (b) United States mail, registered or certified, return receipt requested, postage prepaid, addressed to Bank at the address shown in subparagraph 1 (al(a) above. Notwithstanding such revocation, Guarantor shall remain liable on its obligations hereunder until payment in full to Bank of (x) all of the Guaranteed Indebtedness that is outstanding on the effective date of such revocation, and any renewals and extensions thereof, and (y) all loans, advances and other extensions of credit made to or for the account of Borrower on or after the effective date of such revocation pursuant to the obligation of Bank under a commitment or agreement made to or with Borrower prior to the effective date of such revocation. The terms and conditions of this Guaranty, including without limitation the consents and waivers set forth in paragraph 7 hereof, shall remain in effect with respect to the Guaranteed Indebtedness described in the preceding sentence in the same manner as if such revocation had not been made by Guarantor.

Appears in 1 contract

Samples: Unlimited Guaranty (Mobley Environmental Services Inc)

Right of Revocation. Guarantor understands and agrees that Guarantor ------------------- may revoke its future obligations under this Guaranty at any time by giving Bank Lender written notice that Guarantor will not be liable hereunder for any indebtedness or obligations of Borrower incurred on or after the effective date of such revocation. Such revocation shall be deemed to be effective on the day following the day Bank Lender receives such notice delivered either by: (a) personal delivery to the address and designated department of Bank Lender identified in subparagraph Subparagraph 1(a) above, or (b) United States mail, registered or certified, ----------------- return receipt requested, postage prepaid, addressed to Bank Lender at the address shown in subparagraph 1 (aSubparagraph 1(a) above. Notwithstanding such revocation, Guarantor ----------------- shall remain liable on its obligations hereunder until payment in full to Bank Lender of (xa) all of the Guaranteed Indebtedness that is outstanding on the effective date of such revocation, and any renewals and extensions thereof, and (yb) all loans, advances and other extensions of credit made to or for the account of Borrower on or after the effective date of such revocation pursuant to the obligation of Bank Lender under a commitment or agreement made to or with Borrower prior to the effective date of such revocation. The terms and conditions of this Guaranty, including without limitation the consents and waivers set forth in paragraph Paragraph 7 hereof, shall remain in effect with respect to the Guaranteed ----------- Indebtedness described in the preceding sentence in the same manner as if such revocation had not been made by Guarantor.

Appears in 1 contract

Samples: Limited Guaranty Agreement (Schlotzskys Inc)

Right of Revocation. Guarantor understands and agrees that Guarantor may revoke its Guarantor's future obligations under this Guaranty at any time by giving Bank written notice that Guarantor will not be liable hereunder for any indebtedness or obligations of Borrower incurred on or after the effective date of such revocation. Such revocation shall be deemed to be effective on the day following the day the Bank receives such notice delivered either by: by (a) personal delivery to the address and designated designed department of Bank identified in subparagraph 1(a) above, or (b) United States mail, registered or certified, return receipt requested, postage prepaid, addressed to Bank at the address shown in subparagraph 1 (a1(a) above. Notwithstanding such revocation, Guarantor shall remain liable on its Guarantor's obligations hereunder until payment in full to Bank of (x) all of the Guaranteed Indebtedness that is outstanding on the effective date of such revocation, and any renewals and extensions thereof, and (y) all loans, advances and other extensions of credit made to or for the account of Borrower on or after the effective date of such revocation pursuant to the obligation of Bank under a commitment or agreement made to or with Borrower prior to the effective date of such revocation. The terms and conditions of this Guaranty, including without limitation the consents and waivers set forth in paragraph 7 hereof, shall remain in effect with respect to the Guaranteed Indebtedness described in the preceding sentence in the same manner as if such revocation had not been made by Guarantor.

Appears in 1 contract

Samples: Unlimited Guaranty (Mallon Resources Corp)

Right of Revocation. The Guarantor understands and agrees that the Guarantor may revoke its the Guarantor's future obligations under this Guaranty at any time by giving Bank Agent written notice that the Guarantor will not be liable hereunder for any indebtedness or obligations of Borrower incurred on or after the effective date of such revocation. Such revocation shall be deemed to be effective on the day following the day Bank Agent receives such notice delivered either by: by (a) personal delivery to the address and designated designed department of Bank Agent identified in subparagraph 1(a) above, or (b) United States mail, registered or certified, return receipt requested, postage prepaid, addressed to Bank Agent at the address shown in subparagraph 1 (a1(a) above. Notwithstanding such revocation, the Guarantor shall remain liable on its the Guarantor's obligations hereunder until payment in full to Bank Lenders of (x) all of the Guaranteed Indebtedness that is outstanding on the effective date of such revocation, and any renewals and extensions thereof, and (y) all loans, advances and other extensions of credit made to or for the account of Borrower on or after the effective date of such revocation pursuant to the obligation of Bank Lenders under a commitment or agreement made to or with Borrower prior to the effective date of such revocation. The terms and conditions of this Guaranty, including without limitation the consents and waivers set forth in paragraph 7 hereof, shall remain in effect with respect to the Guaranteed Indebtedness described in the preceding sentence in the same manner as if such revocation had not been made by the Guarantor.

Appears in 1 contract

Samples: Unlimited Guaranty (Exco Resources Inc)

Right of Revocation. Guarantor understands and agrees that Guarantor may revoke its future obligations under this Guaranty at any time by giving Bank written notice that Guarantor will not be liable hereunder for any indebtedness or obligations of Borrower incurred on or after the effective date of such revocation. Such revocation shall be deemed to be effective on the day following the day Bank receives such notice delivered either by: (a) personal delivery or delivery by nationally recognized overnight service to the address and designated department of Bank identified in subparagraph 1(a) above, or (b) United States mail, registered or certified, return receipt requested, postage prepaid, addressed to Bank at the address shown in subparagraph 1 (a) above. Notwithstanding such revocation, Guarantor shall remain liable on its obligations hereunder until payment in full to Bank of (x) all of the Guaranteed Indebtedness that is outstanding on the effective date of such revocation, and any renewals and extensions thereof, and (y) all loans, advances and other extensions of credit made to or for the account of Borrower on or after the effective date of such revocation pursuant to the obligation of Bank under a commitment or agreement made to or with Borrower prior to the effective date of such revocation. The terms and conditions of this Guaranty, including without limitation the consents and waivers set forth in paragraph 7 hereof, shall remain in effect with respect to the Guaranteed Indebtedness described in the preceding sentence in the same manner as if such revocation had not been made by Guarantor.such

Appears in 1 contract

Samples: Unlimited Guaranty (TBM Holdings Inc)

Right of Revocation. Guarantor understands and agrees that ------------------- Guarantor may revoke its future obligations under this Guaranty at any time by giving Bank Lender written notice that Guarantor will not be liable hereunder for any indebtedness or obligations of Borrower incurred on or after the effective date of such revocation. Such revocation shall be deemed to be effective on the day following the day Bank Lender receives such notice delivered either by: (a) personal delivery to the address and designated department of Bank Lender identified in subparagraph Subparagraph 1(a) above, or (b) United States mail, registered or certified, ----------------- return receipt requested, postage prepaid, addressed to Bank Lender at the address shown in subparagraph 1 (aSubparagraph l(a) above. Notwithstanding such revocation, Guarantor ----------------- shall remain liable on its obligations hereunder until payment in full to Bank Lender of (xa) all of the Guaranteed Indebtedness that is outstanding on the effective date of such revocation, and any renewals and extensions thereof, and (yb) all loans, advances and other extensions of credit to which this Guaranty applies, made to or for the account of Borrower on or after the effective date of such revocation pursuant to the obligation of Bank Lender under a commitment or agreement made to or with Borrower prior to the effective date of such revocation. The terms and conditions of this Guaranty, including without limitation the consents and waivers set forth in paragraph 7 Paragraph 6 hereof, shall ----------- remain in effect with respect to the Guaranteed Indebtedness described in the preceding sentence in the same manner as if such revocation had not been made by Guarantor.

Appears in 1 contract

Samples: Guaranty Agreement (Us Home Systems Inc /Tx)

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Right of Revocation. Each Guarantor understands and agrees that such Guarantor may revoke its such Guarantor's future obligations under this Guaranty at any time by giving Bank Agent written notice that such Guarantor will not be liable hereunder for any indebtedness or obligations of Borrower incurred on or after the effective date of such revocation. Such revocation shall be deemed to be effective on the day following the day Bank Agent receives such notice delivered either by: by (a) personal delivery to the address and designated designed department of Bank Agent identified in subparagraph 1(a) above, or (b) United States mail, registered or certified, return receipt requested, postage prepaid, addressed to Bank Agent at the address shown in subparagraph 1 (a1(a) above. Notwithstanding such revocation, each Guarantor shall remain liable on its such Guarantor's obligations hereunder until payment in full to Bank Lenders of (x) all of the Guaranteed Indebtedness that is outstanding on the effective date of such revocation, and any renewals and extensions thereof, and (y) all loans, advances and other extensions of credit made to or for the account of Borrower on or after the effective date of such revocation pursuant to the obligation of Bank Lenders under a commitment or agreement made to or with Borrower prior to the effective date of such revocation. The terms and conditions of this Guaranty, including without limitation the consents and waivers set forth in paragraph 7 hereof, shall remain in effect with respect to the Guaranteed Indebtedness described in the preceding sentence in the same manner as if such revocation had not been made by any Guarantor.

Appears in 1 contract

Samples: Unlimited Guaranty (Exco Resources Inc)

Right of Revocation. Guarantor understands and agrees that Guarantor may revoke its future obligations under this Guaranty at any time with respect to indebtedness or obligations of Borrower incurred after the effective date of the revocation by giving Bank Lender written notice that Guarantor will not be liable hereunder for any indebtedness or obligations of Borrower incurred on or after the effective date of such revocation. Such revocation shall be deemed to be effective on the 5th day following written acknowledgement by an officer of the day Bank receives such Lender that the Lender received written notice of revocation delivered either by: (a) personal delivery to the address and designated department of Bank Lender identified in subparagraph Subparagraph 1(a) above, or (b) United States mail, registered or certified, return receipt requested, postage prepaid, addressed to Bank Lender at the address shown in subparagraph 1 (aSubparagraph 1(a) above. Notwithstanding such revocation, Guarantor shall remain liable on its obligations hereunder until payment in full to Bank Lender of (xa) all of the Guaranteed Indebtedness that is outstanding on the effective date of such revocation, and any renewals and extensions thereof, including interest thereon and fees and expenses related thereto, that have accrued or been incurred after the effective date of such revocation, and (yb) all loans, advances and other extensions of credit made to or for the account of Borrower on or after the effective date of such revocation pursuant to the obligation of Bank Lender under a commitment or agreement made to or with Borrower prior to the effective date of such revocation. The terms and conditions of this Guaranty, including without limitation the consents and waivers set forth in paragraph Paragraph 7 hereof, shall remain in effect with respect to the Guaranteed Indebtedness described in the preceding sentence in the same manner as if such revocation had not been made by Guarantor.

Appears in 1 contract

Samples: Guaranty Agreement (Schlotzskys Inc)

Right of Revocation. Guarantor understands and agrees that Guarantor may revoke its future obligations under this Guaranty at any time by giving Bank written notice that Guarantor will not be liable hereunder for any indebtedness or obligations of Borrower incurred on or after the effective date of such revocation. Such revocation shall be deemed to be effective on the day following the day Bank receives such notice delivered either by: (a) personal delivery to the address and designated department of Bank identified in subparagraph 1(a) above, or (b) United States mail, registered or certified, return receipt requested, postage prepaid, addressed to Bank at the address shown in subparagraph 1 (a) above. Notwithstanding such revocation, Guarantor shall remain liable on its obligations hereunder until payment in full to Bank of (xof(x) all of the Guaranteed Indebtedness that is outstanding on the effective date of such revocation, and any renewals and extensions thereof, and (y) all loans, advances and other extensions of credit made to or for the account of Borrower on or after the effective date of such revocation pursuant to the obligation of Bank under a commitment or agreement made to or with Borrower prior to the effective date of such revocation. The terms and conditions of this Guaranty, including without limitation the consents and waivers set forth in paragraph 7 hereof, shall remain in effect with respect to the Guaranteed Indebtedness described in the preceding sentence in the same manner as if such revocation had not been made by Guarantor.

Appears in 1 contract

Samples: Unlimited Guaranty (Caprock Communications Corp)

Right of Revocation. Guarantor understands and agrees that Guarantor may revoke its future obligations under this Guaranty at any time by giving Bank Lender written notice that Guarantor will not be liable hereunder for any indebtedness or obligations of Borrower incurred on or after the effective date of such revocation. Such revocation shall be deemed to be effective on the day following the day Bank Lender receives such notice delivered either by: (a) personal delivery to the address and designated department of Bank Lender identified in subparagraph Subparagraph 1(a) above, or (b) United States mail, registered or certified, return receipt requested, postage prepaid, addressed to Bank Lender at the address shown in subparagraph 1 (aSubparagraph 1(a) above. Notwithstanding such revocation, Guarantor shall remain liable on its obligations hereunder until payment in full to Bank Lender of (xa) all of the Guaranteed Indebtedness that is outstanding on the effective date of such revocation, and any renewals and extensions thereof, and (yb) all loans, advances and other extensions of credit made to or for the account of Borrower on or after the effective date of such revocation pursuant to the obligation of Bank Lender under a commitment or agreement made to or with Borrower prior to the effective date of such revocation. The terms and conditions of this Guaranty, including without limitation the consents and waivers set forth in paragraph 7 Paragraph 6 hereof, shall remain in effect with respect to the Guaranteed Indebtedness described in the preceding sentence in the same manner as if such revocation had not been made by Guarantor. EXECUTED as of the date first above written. NATIONALCARE®MARKETING, INC. By: /s/ Xxxxxxx X. Xxxxxx Print Name: Xxxxxxx X. Xxxxxx Print Title: SVP & CFO THIS PLEDGE AND SECURITY AGREEMENT (“Agreement”) is made as of December 31, 2003, by NATIONALCARE® MARKETING, INC., a Delaware corporation (“Debtor”), whose chief executive office (as that term is used in the Code) is located at 3100 Xxxxxxx Xxxxx, 800 Xxxxxx Xxxxxx, Xxxx Xxxxx, Xxxxxxx Xxxxxx, Xxxxx 00000, and whose organizational identification number issued by the appropriate authority of the State of Delaware is 00-0000000, and its federal taxpayer identification number is 2133638, in favor of THE FROST NATIONAL BANK, a national banking association (“Secured Party”), whose address is P.X. Xxx 0000, Xxx Xxxxxxx, Xxxxx 00000. Debtor hereby agrees with Secured Party as follows:

Appears in 1 contract

Samples: Credit Agreement (Ascent Assurance Inc)

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