Common use of DURATION OF GUARANTY Clause in Contracts

DURATION OF GUARANTY. This is a continuing Guaranty and shall not be revoked by death, dissolution, merger, bankruptcy, incompetency or insolvency of the Guarantor. This Guaranty shall remain in full force and effect with respect to the Guarantor until the Lender receives written notice from the Guarantor revoking this Guaranty as to the Guarantor. In the event that this Guaranty is revoked by the Guarantor, said revocation shall have no effect on the continuing liability of the Guarantor to guarantee unconditionally the prompt payment of all Guaranteed Obligations which are contracted or incurred before the revocation becomes effective, including such prior Guaranteed Obligations which are subsequently renewed, modified or extended after the revocation becomes effective, as well as all extensions of credit made after revocation pursuant to commitments made prior to such revocation. Revocation of this Guaranty by any Guarantor shall not relieve any other Guarantor of any liability. Except as provided in Section 2.2, Guarantor’s obligations under this Guaranty for the Guaranteed Obligations will terminate upon the payment and performance in full of the Guaranteed Obligations.

DURATION OF GUARANTY. This is a continuing Guaranty and shall not be revoked by death, dissolution, merger, bankruptcy, incompetency or insolvency of the Guarantor. This Guaranty shall remain in full force and effect with respect to the Guarantor until five days after the Lender Bank receives written notice from the Guarantor revoking this Guaranty as to the Guarantor. In the event that this Guaranty is revoked by the Guarantor, said revocation shall have no effect on the continuing liability of the Guarantor to guarantee unconditionally the prompt payment of all Guaranteed Obligations which are contracted or incurred before prior to the revocation becomes effectivefifth day after receipt of the notice, including such prior Guaranteed Obligations which are subsequently renewed, modified or extended after the revocation becomes effective, as well as all extensions of credit made after revocation pursuant to commitments made prior to such revocation. Revocation of this Guaranty by any Guarantor shall not relieve any other Guarantor of any liability. Except as provided in Section 2.2, Guarantor’s obligations under this Guaranty for the Guaranteed Obligations will terminate upon the payment and performance in full of the Guaranteed Obligations.

DURATION OF GUARANTY. This is a continuing Guaranty guaranty shall take effect when received by LENDER, without the necessity of any acceptance by LENDER, and shall not be revoked by death, dissolution, merger, bankruptcy, incompetency or insolvency of the Guarantor. This Guaranty shall remain continue in full force and effect with respect until such time as Guarantor shall notify LENDER in writing, at the office of LENDER to which this guaranty shall be delivered in the first instance, of Guarantor’s election to terminate the same. Any such election to terminate shall be effective only as to indebtedness incurred by BORROWER to LENDER after receipt of such written notice; provided, that this guaranty shall be effective even as to indebtedness incurred by BORROWER after receipt of such written notice if LENDER committed itself to BORROWER in regard to such indebtedness prior to receipt of such notice. This guaranty shall bind the Guarantor until for renewals and extensions granted after the Lender receives written notice from termination hereof which pertain to debts guaranteed hereby whether or not the renewals or extensions are longer than the original period of the debts guaranteed hereunder. This guaranty shall bind the estate of Guarantor revoking this Guaranty as to indebtedness created both before and after the death or incapacity of Guarantor; provided, that Guarantor’s executor or administrator or other legal representative may terminate this guaranty in the same manner in which Guarantor might have terminated it and with the same effect. In the event that Termination of this Guaranty is revoked guaranty by the Guarantor, said revocation shall have no effect on the continuing liability one of the Guarantor to guarantee unconditionally the prompt payment of all Guaranteed Obligations which are contracted or incurred before the revocation becomes effective, including such prior Guaranteed Obligations which are subsequently renewed, modified or extended after the revocation becomes effective, as well as all extensions of credit made after revocation pursuant to commitments made prior to such revocation. Revocation of this Guaranty by any Guarantor undersigned shall not relieve any other Guarantor of any liability. Except as provided in Section 2.2, Guarantor’s obligations under this Guaranty for affect the Guaranteed Obligations will terminate upon the payment and performance in full liability hereunder of the Guaranteed Obligationsremaining of the undersigned.