Character of Obligations Sample Clauses
The 'Character of Obligations' clause defines the nature and type of duties or commitments that each party undertakes under the agreement. It typically clarifies whether the obligations are absolute, conditional, or subject to certain standards such as best efforts or reasonable care. For example, it may specify that a party is required to perform services to a professional standard or deliver goods that meet specific criteria. This clause ensures both parties have a clear understanding of the expectations and standards governing their responsibilities, thereby reducing ambiguity and potential disputes over performance.
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Character of Obligations. (a) This is an absolute, continuing and unconditional guaranty of payment and not of collection and if at any time or from time to time there is no outstanding Guaranteed Indebtedness, the obligations of Guarantor with respect to any and all Guaranteed Indebtedness incurred thereafter shall not be affected. This Guaranty and the Guarantor's obligations hereunder are irrevocable and, in the event of Guarantor's death, shall be binding upon Guarantor's estate. All of the Guaranteed Indebtedness shall be conclusively presumed to have been made or acquired in acceptance hereof. Guarantor shall be liable, jointly and severally, with Borrower and any other guarantor of all or any part of the Guaranteed Indebtedness.
(b) Lender may, at its sole discretion and without impairing its rights hereunder, (i) apply any payments on the Guaranteed Indebtedness that Lender receives from Borrower or any other source other than Guarantor to that portion of the Guaranteed Indebtedness, if any, not guaranteed hereunder, and (ii) apply any proceeds it receives as a result of the foreclosure or other realization on any collateral for the Guaranteed Indebtedness to that portion, if any, of the Guaranteed Indebtedness not guaranteed hereunder or to any other indebtedness secured by such collateral.
(c) Guarantor agrees that its obligations hereunder shall not be released, diminished, impaired, reduced or affected by the existence of any other guaranty or the payment by any other guarantor of all or any part of the Guaranteed Indebtedness and, in the event Paragraph 2 above partially limits Guarantor's ----------- obligations under this Guaranty, Guarantor's obligations hereunder shall continue until Lender has received payment in full of the Guaranteed Indebtedness.
(d) Guarantor's obligations hereunder shall not be released, diminished, impaired, reduced or affected by, nor shall any provision contained herein be deemed to be a limitation upon, the amount of credit which Lender may extend to Borrower, the number of transactions between Lender and Borrower, payments by Borrower to Lender or Lender's allocation of payments by Borrower.
(e) Without further authorization from or notice to Guarantor, Lender may compromise, accelerate, or otherwise alter the time or manner for the payment of the Guaranteed Indebtedness, increase or reduce the rate of interest thereon, or release or add any one or more guarantors or endorsers, or allow substitution of or withdrawal of collateral or othe...
Character of Obligations. This is an absolute, continuing and unconditional guaranty of payment and not of collection and if at any time or from time to time there is no outstanding Guaranteed Indebtedness, the obligations of Guarantor with respect to any and all Guaranteed Indebtedness incurred thereafter shall not be affected. All Guaranteed Indebtedness heretofore, concurrently herewith or hereafter made by Bank to Borrower shall be conclusively presumed to have been made or acquired in acceptance hereof. Guarantor shall be liable, jointly and severally, with Borrower and any other guarantor of all or any part of the Guaranteed Indebtedness.
Character of Obligations. This is an absolute, continuing and unconditional guaranty of payment and not of collection and if at any time or from time to time there are no outstanding Guaranteed Obligations, the obligations of Guarantor with respect to any and all Guaranteed Obligations incurred thereafter shall not be affected. All Guaranteed Obligations heretofore, concurrently herewith or hereafter made by Bank to Seller shall be conclusively presumed to have been made or acquired in acceptance hereof. Guarantor shall be liable, jointly and severally, with Seller and any other guarantor of all or any part of the Guaranteed Obligations. Bank shall be under no obligation to notify Guarantor of any advances made, credit extended, or discretionary purchase of any Participation Interest by Bank under the Warehouse Agreement or any other Warehouse Document.
Character of Obligations. This is an absolute, continuing and unconditional guaranty of payment and not of collection. All Guaranteed Indebtedness heretofore or concurrently herewith made by Lender to Borrower shall be conclusively presumed to have been made or acquired in acceptance hereof. Guarantor shall be liable, jointly and severally, with Borrower and any other guarantor of all or any part of the Guaranteed Indebtedness.
Character of Obligations. (a) This is an absolute, continuing and unconditional guaranty of payment and not of collection. This Guaranty and the Guarantors’ obligations hereunder are irrevocable. All of the Guaranteed Indebtedness shall be conclusively presumed to have been made in acceptance hereof. Each Guarantor shall be liable, jointly and severally, with Borrower and any other guarantor of all or any part of the Guaranteed Indebtedness.
(b) Each Guarantor agrees that its obligations hereunder shall not be released, diminished, impaired, reduced or affected by the existence of any other guaranty or the payment by any other guarantor of any part of the Guaranteed Indebtedness (other than payment in full thereof) and, each Guarantor’s obligations hereunder shall continue until Lender has received payment in full of the Guaranteed Indebtedness.
(c) Each Guarantor’s obligations hereunder shall not be released, diminished, impaired, reduced or affected by, nor shall any provision contained herein be deemed to be a limitation upon, the amount of credit which Lender may extend to Borrower, the number of transactions between Lender and Borrower, payments by Borrower to Lender or Lender’s allocation of payments by Borrower.
Character of Obligations. 28 SECTION 7.1. Obligations Absolute.................................................................. 28 SECTION 7.2. Limited Liability of Agent and Banks.................................................. 29 ARTICLE VIII THE AGENT.................................................................................. 30 SECTION 8.1. Authorization and Action.............................................................. 30 SECTION 8.2. Agent's Reliance, Etc................................................................. 30 SECTION 8.3. Initial Bank and Agent and Their Respective Affiliates................................ 30 SECTION 8.4. Bank Credit Decision.................................................................. 31 SECTION 8.5. Indemnification....................................................................... 31 SECTION 8.6. Successor Agent....................................................................... 32 SECTION 8.7. Collateral............................................................................ 32
Character of Obligations. 20 Section 7.1
Character of Obligations. Failure on the part of the District or of any Municipality in any instance or under any circumstance to observe or to perform fully any obligation assumed by or imposed upon it by this Agreement shall not make the District liable in damages to a Municipality or relieve a Municipality from making any payment to the District or from fully performing any other obligation required of it under this Agreement; but such Municipality may have and may pursue any and all other remedies provided by law for compelling performance by the District or such other Municipality of said obligation assumed by or imposed upon the District or such other Municipality.
Character of Obligations. 13 Section 8.1. Obligations Absolute.................................13 Section 8.2. Continuing Obligation..............................
Character of Obligations. 25 SECTION 7.1 OBLIGATIONS ABSOLUTE...................................................................... 25 SECTION 7.2 LIMITED LIABILITY OF AGENT AND BANKS...................................................... 25 ARTICLE VIII THE AGENT 26