Collateral Instruments. Neither the Security Trustee nor any other Beneficiary shall be obliged to make any claim or demand on the Borrowers or to resort to any Collateral Instrument or other means of payment before enforcing this Guarantee and no action taken or omitted in connection with any such Collateral Instrument or other means of payment shall discharge, reduce, prejudice or affect the liability of the Guarantor under this Guarantee.
Appears in 2 contracts
Sources: Loan Agreement (Cordiant Communications Group PLC /Adr), Loan Agreement (Cordiant Communications Group PLC /Adr)
Collateral Instruments. Neither the The Security Trustee nor any other Beneficiary shall not be obliged to make any claim or demand on the Borrowers Borrower or to resort to any Collateral Instrument or other means of payment now or hereafter held by or available to it before enforcing this Guarantee and no action taken or omitted by the Security Trustee in connection with any such Collateral Instrument or other means of payment shall discharge, reduce, prejudice or affect the liability of the Guarantor under this Guarantee.
Appears in 2 contracts
Sources: Corporate Guarantee, Corporate Guarantee (Pyxis Tankers Inc.)