Civil Code Section 2822 Clause Samples

Civil Code Section 2822 defines the rights and obligations of a surety when a principal debtor defaults on their obligation. In practice, this clause outlines how a surety may be required to fulfill the debtor’s obligation if the debtor fails to do so, and may also specify the process for the surety to seek reimbursement from the debtor afterward. The core function of this provision is to clarify the legal relationship between the surety, the debtor, and the creditor, ensuring that creditors have recourse if the primary party does not meet their commitments.
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Civil Code Section 2822. In the event that at any time, a surety is liable upon only a portion of Borrower's obligations under the Loan Documents and Borrower provides partial satisfaction of any such obligation(s), Borrower hereby waives any right it would otherwise have, under Section 2822 of the California Civil Code, to designate the portion of the obligations to be satisfied. The designation of the portion of the obligation to be satisfied shall, to the extent not expressly made by the terms of the Loan Documents, be made by the Lender rather than Borrower.
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Civil Code Section 2822. In the event that, at any time, any surety exists that is liable upon only a portion of Grantor’s obligations under the Loan Documents and Grantor provides partial satisfaction of any such obligation(s), Grantor hereby waives any right it would otherwise have, under Section 2822 of the California Civil Code, to designate the portion of the obligation to be satisfied. The designation of the portion of the obligation to be satisfied shall, to the extent not expressly made by the terms of the Loan Documents, be made by Beneficiary rather than Grantor.
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Civil Code Section 2822. In the event that, at any time and for any ----------------------- reason, any Guarantor's liability with respect to any obligation guaranteed constitutes only a portion of the applicable obligation, each Guarantor hereby waives any right it might otherwise have under Section 2822 of the California Civil Code to have Borrower designate the portion of any such obligation to be satisfied in the event that Borrower provides partial satisfaction of such obligation. Each Guarantor acknowledges and agrees that Borrower may already have agreed with Lender, or may hereafter agree, that in any such event the designation of the portion of the obligation to be satisfied shall, to the extent not expressly made by the terms of the Loan Documents, be made by Lender rather than Borrower.
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Civil Code Section 2822. In the event that, at any time and for any reason, Guarantor’s liability with respect to any obligation guaranteed constitutes only a portion of the applicable obligation, Guarantor hereby waives any right it might otherwise have under Section 2822 of the California Civil Code to have Tenant designate the portion of any such obligation to be satisfied in the event that Tenant provides partial satisfaction of such obligation. Guarantor acknowledges and agrees that Tenant may already have agreed with Landlord, or may hereafter agree, that in any such event the designation of the portion of the obligation to be satisfied shall, to the extent not expressly made by the terms of the Lease, be made by Landlord rather than Tenant. EXHIBIT F-7 ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇ TECHNOLOGIES, INC. 0LTB-274017 IN WITNESS WHEREOF, Guarantor has caused this Guaranty to be duly executed as of the date first written above. “Guarantor:” NETGEAR, INC. By: [PRINTED NAME & TITLE] EXHIBIT F-8 ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇ TECHNOLOGIES, INC. 0LTB-274017 , 20 Beneficiary: Ladies and Gentlemen: WE HEREBY OPEN IN FAVOR OF , AND ITS SUCCESSORS (COLLECTIVELY, BENEFICIARY), AND FOR THE ACCOUNT OF , A , (ACCOUNT PARTY), OUR STANDBY IRREVOCABLE TRANSFERABLE LETTER OF CREDIT NO. (THE CREDIT) FOR AN AGGREGATE AMOUNT OF U.S. DOLLARS ($ ), EFFECTIVE IMMEDIATELY AND EXPIRING AT HSBC BANK USA, N.A., GLOBAL TRADE AND RECEIVABLES FINANCE (GTRF), ▇/▇ ▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇▇, 1212 AVENUE OF THE AMERICAS, ▇▇▇▇ ▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇, WITH OUR CLOSE OF BUSINESS ON , 20 . FUNDS ARE AVAILABLE AGAINST YOUR SIGHT DRAFT(S) DRAWN ON US, IN THE FORM ▇▇ ▇▇▇▇▇ ▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇ SIGNED BY AN AUTHORIZED OFFICER OF BENEFICIARY, AND THE ORIGINAL OF THIS CREDIT AND ANY AMENDMENTS, PRESENTED TO OUR OFFICE, LOCATED AT HSBC BANK USA, N.A., GLOBAL TRADE AND RECEIVABLES FINANCE (GTRF), C/O ▇▇▇▇▇▇▇▇ ▇▇▇ TAG, ▇▇▇▇ ▇▇▇▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇. PARTIAL DRAWINGS ARE PERMITTED UNDER THIS CREDIT. WE HEREBY ENGAGE WITH BENEFICIARY THAT UPON PRESENTATION OF DOCUMENTS, AS SPECIFIED UNDER AND IN COMPLIANCE WITH THE TERMS OF THIS CREDIT, THIS CREDIT WILL BE DULY HONORED FOR THE AMOUNT DRAWN, IF DOCUMENTS ARE PRESENTED PRIOR TO 10:00 A.M. ON ANY BANKING DAY, WE WILL HONOR THE SAME IN IMMEDIATELY AVAILABLE FUNDS ON THE NEXT BANKING DAY AND, IF SO PRESENTED AFTER 10:00 A.M. ON ANY BANKING DAY, WE WILL HONOR THE SAME IN IMMEDIATELY AVAILABLE FUNDS ON THE SECOND BANKING DAY. PRESENTATION OF DRAFT(S) DRAWN HER...
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Civil Code Section 2822. In the event that, at any time and for any reason, Guarantor’s liability with respect to any obligation guaranteed constitutes only a portion of the applicable obligation, Guarantor hereby waives any right it might otherwise have under Section 2822 of the California Civil Code to have Tenant designate the portion of any such obligation to be satisfied in the event that Tenant provides partial satisfaction of such obligation. Guarantor acknowledges and agrees that Tenant may already have agreed with Landlord, or may hereafter agree, that in any such event the designation of the portion of the obligation to be satisfied shall, to the extent not expressly made by the terms of the Lease, be made by Landlord rather than Tenant.
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Civil Code Section 2822. In the event that at any time, a surety is liable upon only a portion of the Pledgor’s obligations under the Loan Documents and the Pledgor provides partial satisfaction of any such obligation(s), the Pledgor hereby waives any right it would otherwise have, under Section 2822 of the California Civil Code, to designate the portion of the obligations to be satisfied. The designation of the portion of the obligation to be satisfied shall, to the extent not expressly made by the terms of the Loan Documents, be made by the Bank rather than the Pledgor.
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Related to Civil Code Section 2822

  • Civil Code Section 1542 The Employee represents that the Employee is not aware of any claims against the Company other than the claims that are released by this Agreement. The Employee acknowledges that the Employee has been advised by legal counsel and is familiar with the provisions of California Civil Code Section 1542, which provides as follows:

  • California Civil Code Section 1542 It is possible that other claims not known to the Parties arising out of the facts alleged in the Notice and relating to the Covered Products will develop or be discovered. EHA on behalf of itself only, on one hand, and ▇▇▇▇▇▇ on behalf of itself only, on the other hand, acknowledge that this Settlement Agreement is expressly intended to cover and include all such claims up through the Effective Date. The Parties acknowledge that the claims released in Sections 4.1 and 4.2 may include unknown claims, and nevertheless waive California Civil Code section 1542 as to any such unknown claims. California Civil Code section 1542 reads as follows: EHA and ▇▇▇▇▇▇ each acknowledge and understand the significance and consequences of this specific waiver of California Civil Code § 1542.

  • Waiver of Civil Code Section 1542 (a) Executive understands and agrees that the release provided herein extends to all Claims released above whether known or unknown, suspected or unsuspected, which may be released as a matter of law. Executive expressly waives and relinquishes any and all rights he/she may have under California Civil Code section 1542, which provides as follows: “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.” (b) Executive expressly waives and releases any rights and benefits which he/she has or may have under any similar law or rule of any other jurisdiction. It is the intention of each party through this Agreement to fully, finally and forever settle and release the Claims as set forth above. In furtherance of such intention, the release herein given shall be and remain in effect as a full and complete release of such matters notwithstanding the discovery of any additional Claims or facts relating thereto.

  • Waiver of California Civil Code Section 1542 Borrower acknowledges that there is a risk that subsequent to the execution of this Agreement it may incur or suffer losses, damages or injuries which are in some way caused by the transactions referred to in the Loan Documents or this Agreement, but which are unknown and unanticipated at the time this Agreement is executed. Borrower does hereby assume the above mentioned risks and agree that this Agreement shall apply to all unknown or unanticipated results of the transactions and occurrences described herein, as well as those known and anticipated, and upon advice of counsel, Borrower does hereby knowingly waive any and all rights and protections under California Civil Code Section 1542 which section has been duly explained and reads as follows: “A general release does not extend to claims that the creditor or releasing party does not know or suspect to exist in his or her favor at the time of executing the release and that, if known by him or her, would have materially affected his or her settlement with the debtor or released party.”

  • California Civil Code § 1542 It is possible that other claims not known to the Parties arising out of the facts alleged in the Notice and relating to the Products will develop or be discovered. ▇▇▇▇▇▇▇▇ on behalf of himself only, on one hand, and ▇▇▇▇▇▇▇▇, on the other hand, acknowledge that this Agreement is expressly intended to cover and include all such claims up through the Effective Date, including all rights of action therefor. The Parties acknowledge that the claims released in §§