Indemnity Guarantor definition
Examples of Indemnity Guarantor in a sentence
Such Indemnity Guarantor owns a direct or indirect interest in Borrower and will derive substantial benefit from the making of the Loan to Borrower.
No Indemnity Guarantor may assign any of its rights, powers, duties and obligations hereunder, or substitute another Person in lieu of itself as the obligor hereunder.
Such Indemnity Guarantor has the requisite legal capacity to execute and deliver this Indemnity Guaranty and perform its obligations hereunder.
Ad hoc committees are given specific charges and when the work is completed, the committee is disbanded.
Each Indemnity Guarantor irrevocably waives all rights it may have under applicable law, if any, to prohibit the disclosure to such assignor, participant, or servicer of any information Agent may have in connection with the Loan or any Borrower Party, including, without limitation, any right of privacy.
Each Indemnity Guarantor acknowledges by executing this Indemnity Guaranty that Agent has notified Indemnity Guarantors that, pursuant to the requirements of the Patriot Act, Agent is required to obtain, verify and record such information as may be necessary to identify Indemnity Guarantors including, without limitation, the name and address of each Indemnity Guarantor in accordance with the Patriot Act.
If any Indemnity Guarantor has chosen not to obtain legal representation, whether due to cost considerations or for other reasons, the lack of such representation shall not furnish any Indemnity Guarantor with any defense to the enforcement of Agent’s rights hereunder.
Each Indemnity Guarantor agrees that it shall be collaterally estopped from contesting, and shall be bound conclusively in any subsequent action, in any jurisdiction, by the judgment in any action by Agent against Borrower or any Indemnity Guarantor in connection with the Loan Documents (wherever instituted) as if such Indemnity Guarantor were a party to such action even if not so joined as a party.
In the event that Borrower fails to make any payment of any Guaranteed Obligations when, as and to the extent required by the Note, the Deed of Trust or the Unsecured Indemnity, Guarantor immediately shall cause such payment to be made.
The financial statements of such Indemnity Guarantor previously submitted to Agent are true, complete and correct in all material respects, disclose all actual and contingent liabilities, fairly present the financial condition of such Indemnity Guarantor as of the date thereof, and do not contain any untrue statement of a material fact or omit to state a fact material to such financial statements.