Default by Guarantors Clause Samples
The "Default by Guarantors" clause defines the circumstances under which a guarantor is considered to be in default under a contract or agreement. Typically, this clause outlines specific actions or failures—such as non-payment, breach of obligations, or insolvency—that would trigger a default status for the guarantor. For example, if a guarantor fails to fulfill their payment obligations when the primary obligor defaults, this clause would specify the resulting consequences. Its core practical function is to clearly establish the events that constitute a default by the guarantor, thereby protecting the interests of the beneficiary and providing a basis for enforcement or remedies.
Default by Guarantors. If any Guarantor fails to pay any of its indebtedness or perform any of its obligations under any of the Guaranties when due or the revocation, limitation or termination or attempted revocation, limitation or termination of any of the obligations of any Guarantor under any of the Guaranties; or
Default by Guarantors. If any Guarantor fails to pay any amounts due to the Lender or perform any of its obligations to the Lender under any of the Guaranties or security agreements to which it is a party when due or the revocation, limitation or termination or attempted revocation, limitation or termination of any of the obligations of any Guarantor under any of the Guaranties or security agreements; or
Default by Guarantors. The failure by any of the GUARANTORS to satisfy any obligation imposed upon the GUARANTORS in the GUARANTY AGREEMENTS or their respective Security Agreements, after the expiration of any cure rights.
Default by Guarantors. The occurrence and continuance of an event of default, including the expiration of any applicable grace or cure period, under, or the revocation or termination of, any agreement, instrument or document executed and delivered by any Person to LaSalle pursuant to which such Person, with Borrower's actual knowledge and consent, has guaranteed to LaSalle the payment of all or substantially all of the Obligations or has granted LaSalle a security interest in or lien upon some or all of such Person's real and/or personal property to secure the payment of all or substantially all of the Obligations.
Default by Guarantors. If any Guarantor fails to meet or comply with any term or condition of its respective Guaranty or seeks to cancel its Guaranty for any reason whatsoever or defaults in the payment or performance of any Obligations or any other indebtedness of such Guarantor to the Bank; or
Default by Guarantors. A breach of or default by any of the GUARANTORS or LIMITED GUARANTORS under the terms, covenants, and conditions set forth in any GUARANTY AGREEMENT any other LOAN DOCUMENT to which it is a party. The failure by any of the GUARANTORS or LIMITED GUARANTORS to satisfy any obligation imposed upon it in the GUARANTY AGREEMENTS.
Default by Guarantors. The failure by any of the GUARANTORS to satisfy any obligation imposed upon it in the GUARANTY AGREEMENTS.