Common use of The Foreign Guaranty Clause in Contracts

The Foreign Guaranty. In order to induce the Lenders to enter into this Agreement and to extend credit hereunder, and in recognition of the direct benefits to be received by the Foreign Guarantors from the Extensions of Credit to the Foreign Borrower hereunder, each of the Foreign Guarantors hereby agrees with the Administrative Agent and the Lenders as follows: each Foreign Guarantor hereby unconditionally and irrevocably jointly and severally guarantees as primary obligor and not merely as surety the full and prompt payment when due, whether upon maturity, by acceleration or otherwise, of any and all Credit Party Obligations of the Foreign Borrower. If any or all of the Credit Party Obligations of the Foreign Borrower becomes due and payable, each Foreign Guarantor unconditionally promises to pay such indebtedness to the Administrative Agent and the Lenders, or order, on demand, together with any and all reasonable expenses which may be incurred by the Administrative Agent or the Lenders in collecting any of such Credit Party Obligations. The Foreign Guaranty set forth in this Article XI is a guaranty of timely payment and not of collection.

The Foreign Guaranty. In order to induce the Lenders to enter into this Credit Agreement and to extend credit hereunder, and in recognition of the direct benefits to be received by the Foreign Guarantors from the Extensions of Credit to the Foreign Borrower Borrowers hereunder, each of the Foreign Guarantors (including without limitation the Company, as set forth in the definition of “Foreign Guarantors”) hereby agrees with the Administrative Agent and the Lenders as follows: each Foreign Guarantor hereby unconditionally and irrevocably jointly and severally guarantees as primary obligor and not merely as surety the full and prompt payment when due, whether upon maturity, by acceleration or otherwise, of any and all Credit Party Obligations of the Foreign BorrowerBorrowers. If any or all of the Credit Party Obligations of the any Foreign Borrower becomes due and payable, each Foreign Guarantor unconditionally promises to pay such indebtedness to the Administrative Agent and the Lenders, or order, on demand, together with any and all reasonable expenses which may be incurred by the Administrative Agent or the Lenders in collecting any of such Credit Party Obligations. The Foreign Guaranty set forth in this Article XI is a guaranty of timely payment and not of collection.

The Foreign Guaranty. In order to induce the Lenders to enter into this Agreement and to extend credit hereunder, and in recognition of the direct benefits to be received by the Foreign Guarantors from the Extensions of Credit to the Foreign Borrower Borrowers hereunder, each of the Foreign Guarantors hereby agrees with the Administrative Agent and the Lenders as follows: each Foreign Guarantor hereby unconditionally and irrevocably jointly and severally guarantees as primary obligor and not merely as surety the full and prompt payment when due, whether upon maturity, by acceleration or otherwise, of any and all Credit Party Obligations of the Foreign BorrowerBorrowers. If any or all of the Credit Party Obligations of the Foreign Borrower Borrowers becomes due and payable, each Foreign Guarantor unconditionally promises to pay such indebtedness to the Administrative Agent and the Lenders, or order, on demand, together with any and all reasonable expenses which may be incurred by the Administrative Agent or the Lenders in collecting any of such Credit Party Obligations. The Foreign Guaranty set forth in this Article XI is a guaranty of timely payment and not of collection.