Examples of Validity Guarantor in a sentence
The term “Commonly Controlled Entity” shall mean an entity, whether or not incorporated, which is under common control with any Related Party or Validity Guarantor within the meaning of Section 414(b) or (c) of the Code.
That payment of the Indebtedness is the valid obligation of Borrower and Validity Guarantor and, as of the date hereof, Borrower and Validity Guarantor have absolutely no defenses, claims, rights of set-off or counterclaims against Crestmark or the payment of the Indebtedness.
Validity Guarantor and Guarantor hereby acknowledge and agree to the amendments and modifications set forth above and reaffirm the Validity Guaranty and Personal Guaranty with respect to all liabilities, obligations and the Indebtedness therein guaranteed as herein amended and modified.
Validity Guarantor and Guarantor further acknowledge that Validity Guarantor and Guarantor remain liable in accordance with the terms of the Validity Guaranty and Personal Guaranty without offset or counterclaim.
The term “Related Party” shall mean, collectively, each Borrower, each Guarantor, each Subsidiary of a Borrower and/or Carbiz Parent and each Subsidiary and/or Affiliate of a Borrower and/or a Guarantor that is a party to this Agreement or any other Loan Document (other than a Validity Guarantor or JV Partner).