Common use of DURATION OF GUARANTY Clause in Contracts

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by Lender, or any notice to Guarantor or to Borrower, and will continue in full force until all the Indebtedness incurred shall have been fully and finally paid and satisfied and all of Guarantor's other obligations under this Guaranty shall have been performed in full. Release of any other guarantor or termination of any other guaranty of the Indebtedness shall not affect the liability of Guarantor under this Guaranty.

Appears in 2 contracts

Sources: Guaranty (Wsi Industries, Inc.), Guaranty (Wsi Industries, Inc.)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by Lender, or any notice to Guarantor or to Borrower, and will continue in full force until all the Indebtedness incurred or contracted shall have been fully and finally paid and satisfied and all of Guarantor's other obligations of Guarantor under this Guaranty shall have been performed in full. Release of any other guarantor or termination of any other guaranty of the Indebtedness shall not affect the liability of Guarantor under this Guaranty.

Appears in 2 contracts

Sources: Asset Purchase Agreement (Nevada Gold & Casinos Inc), Asset Purchase Agreement (Nevada Gold & Casinos Inc)

DURATION OF GUARANTY. This Guaranty will take effect when received by Lender Creditor without the necessity notice of any acceptance by LenderCreditor, or any notice to Guarantor or to BorrowerDebtor, and will continue in full force until such time as Creditor has received all payments due. The undersigned consents to any extensions or modifications granted to Debtor and the Indebtedness incurred shall have been fully and finally paid and satisfied and all of Guarantor's other obligations under this Guaranty shall have been performed in full. Release release and/or compromise of any other guarantor obligations of Debtor or termination of any other guaranty of obligors and guarantors without notice and without in any way releasing the Indebtedness shall not affect the liability of Guarantor under this Guarantyundersigned from his or her obligations hereunder.

Appears in 1 contract

Sources: Guaranty