Common use of Guarantor as Principal Debtor Clause in Contracts

Guarantor as Principal Debtor. As between the parent and us but without affecting the cardmember’s obligations, the parent shall be liable for the total outstanding balance under this agreement as if he/she were the sole principal debtor and not merely a surety. Accordingly, the parent shall not be discharged, nor shall his/ her liability be affected, by anything which would not discharge him/ her or affect his/her liability if he/she were the sole principal debtor (including (i) any time, indulgence, concession, waiver, forbearance or consent at any time given to the cardmember or any other person, (ii) any amendment or supplement to any other provision of this agreement or any other agreement, security, guarantee, indemnity, right, remedy or lien, (iii) the making or absence of any demand on the cardmember or any other person for payment, (iv) the enforcement or absence of enforcement of this agreement or any other agreement, security, guarantee, indemnity, right, remedy or lien, (v) the taking, existence or release of any agreement, security, guarantee, indemnity, right, remedy or lien, (vi) the insolvency or bankruptcy of the cardmember or any other person (or the commencement of any of the foregoing) or (vii) the illegality, invalidity or unenforceability of, or any defect in any provision of, this agreement or any other agreement, security, guarantee, indemnity, right, remedy or lien or any of the obligations of the cardmember or any other party thereunder).

Guarantor as Principal Debtor. As between the parent and us but without affecting the cardmember’s obligations, the parent shall be liable for the total outstanding balance under balanceunder this agreement as if he/she were the sole principal debtor and not merely a surety. Accordingly, the parent shall not be discharged, nor shall his/ her liability be affected, by anything which would not discharge him/ her or affect his/her liability if he/she were the sole principal debtor (including (i) any time, indulgence, concession, waiver, forbearance or consent at any time given to the cardmember or any other person, (ii) any amendment or supplement to any other provision of this agreement or any other agreement, security, guarantee, indemnity, right, remedy or lien, (iii) the making or absence of any demand on the cardmember or any other person for payment, (iv) the enforcement or absence of enforcement of this agreement or any other agreement, security, guarantee, indemnity, right, remedy or lien, (v) the taking, existence or release of any agreement, security, guarantee, indemnity, right, remedy or lien, (vi) the insolvency or bankruptcy of the cardmember or any other person (or the commencement of any of the foregoing) or (vii) the illegality, invalidity or unenforceability of, or any defect in any provision of, this agreement or any other agreement, security, guarantee, indemnity, right, remedy or lien or any of the obligations of the cardmember or any other party thereunder).