Payment Guarantor definition
Examples of Payment Guarantor in a sentence
The non-paying Applicant will be liable for payment of the entire amount due, interest, costs, charges and expenses accrued (and will not be entitled to profits, if any), and the Company and/or Payment Guarantor may enforce payment for any such amount outstanding.
Borrower has delivered to Lender all formation and organizational documents of Borrower, and of the Payment Guarantor, and all such formation and organizational documents remain in full force and effect and have not been amended or modified since they were delivered to or otherwise approved by Lender.
All financial statements and information relating to the financial condition of Borrower, Payment Guarantor, the Property, and the Improvements, which have been heretofore and hereafter are delivered to Lender by Borrower, fairly and accurately represent as of the date of such delivery the financial condition of the subject thereof and have been prepared (except as noted therein) in accordance with generally accepted accounting principles consistently applied.
The non-paying Applicant will be liable for any loss, cost and expenses suffered or incurred by the Company and/or the Payment Guarantor as a result of or in connection with such disposal.
Each Maximization Payment Guarantor has a security interest in the Aggregate Net Surplus as security for the Maximization Reimbursement Obligation, and has all rights of a secured creditor under the New York Uniform Commercial Code.