Guaranty Irrevocable Clause Samples
The "Guaranty Irrevocable" clause establishes that the guarantor's promise to fulfill certain obligations cannot be withdrawn or revoked. In practice, this means that once the guaranty is issued, the guarantor remains bound to their commitment regardless of changes in circumstances or requests for release, and the beneficiary can rely on the guaranty for the duration specified in the agreement. This clause ensures certainty and security for the party receiving the guaranty by preventing the guarantor from unilaterally terminating their responsibility, thereby mitigating the risk of non-performance.
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Guaranty Irrevocable. Each Guarantor agrees that its obligations hereunder are irrevocable, absolute, independent and unconditional and to the maximum extent permitted by applicable law, shall not be affected by any circumstance which constitutes a legal or equitable discharge of a guarantor or surety other than payment in full of the Obligations. In furtherance of the foregoing and without limiting the generality thereof, each Guarantor agrees to the maximum extent permitted by applicable law, as follows:
(a) this Guaranty is a guaranty of payment when due and not of collectibility; (b) the Holders of Subordinated Notes may from time to time, without notice or demand and without affecting the validity or enforceability of this Guaranty or giving rise to any limitation, impairment or discharge of any Guarantor's liability hereunder, (i) renew, extend, accelerate or otherwise change the time, place, manner or terms of payment of the Obligations, (ii) settle, compromise, release or discharge, or accept or refuse any offer of performance with respect to, or substitutions for, the Obligations or any agreement relating thereto and/or subordinate the payment of the same to the payment of any other obligations, (iii) request and accept other guaranties of the Obligations and take and hold security for the payment of this Guaranty or the Obligations, (iv) release, exchange, compromise, subordinate or modify, with or without consideration, any security for payment of the Obligations, any other guaranties of the Obligations, or any other obligation of any Person (including any other Guarantor) with respect to the Obligations, (v) enforce and apply any security now or hereafter held by or for the benefit of the Holders of Subordinated Notes in respect of this Guaranty or the Obligations and direct the order or manner of sale thereof, or exercise any other right or remedy that the Holders of the Subordinated Notes may have against any such security, as the Holders of the Subordinated Notes in their discretion may determine consistent with any applicable security agreement, including foreclosure on any such security pursuant to one or more judicial or nonjudicial sales, whether or not every aspect of any such sale is commercially reasonable, and (vi) exercise any other rights available to any of them under any of the Note Documents, at law or in equity; and (c) this Guaranty and the obligations of Guarantors hereunder shall be valid and enforceable and shall not be subject to any limitation...
Guaranty Irrevocable. This Guaranty is a continuing guaranty of the payment of all Guaranteed Obligations now or hereafter existing and shall remain in full force and effect until this Guaranty is terminated pursuant to Section 17 hereof.
Guaranty Irrevocable. This guaranty is irrevocable, unconditional and absolute, irrespective of any circumstances which might otherwise constitute a legal or equitable discharge or defense to, or by ASFC, and the failure of ASFC to observe or perform any of the provisions or covenants contained in this Agreement or other instruments relative to this Agreement shall constitute a default under this guaranty and under this Agreement.
Guaranty Irrevocable. This Subsidiary Guaranty is a continuing guaranty of all Liabilities now or hereafter existing under the Loan Documents and shall remain in full force and effect until payment in full of all Liabilities and other amounts payable under this Subsidiary Guaranty and until the Loan Documents are no longer in effect.
Guaranty Irrevocable. Guarantor agrees that this Guaranty is irrevocable and the obligations of Guarantor hereunder shall remain in full force and effect, and shall not terminate, until all of the Tenant Obligations and the obligations of Guarantor under this Guaranty shall have been paid and performed in full.
Guaranty Irrevocable. This Guaranty is a continuing guaranty of the performance of all Obligations. Unless terminated pursuant to this Section 3, this Guaranty shall remain in full force and effect until the complete performance of all the respective obligations of New Media Investment Group and New Media Holdings under this Guaranty and until the Asset Purchase Agreement and the Ancillary Agreements are no longer in effect, at which time this Guaranty shall terminate in its entirety and the Parent Companies shall have no further obligations under this Guaranty. Notwithstanding anything to the contrary contained herein, New Media Investment Group shall have no further obligations under this Guaranty upon the occurrence of the Closing.
Guaranty Irrevocable. This Guaranty is a continuing guaranty and shall remain in full force and effect until payment in full of all Liabilities and other amounts payable under this Guaranty and until the Transactions are no longer in effect.
Guaranty Irrevocable. This Agreement constitutes a continuing guaranty of the Obligations, cannot be revoked by Guarantor, and will remain in full force and effect until the Obligations are paid in full.
Guaranty Irrevocable. Guarantor's guarantee of the Guaranteed Obligations is irrevocable, except that Guarantor may terminate its continuing obligation to guarantee new indebtedness of Borrower by providing written notice to Lender of such termination and obtaining written confirmation thereof by Lender. No attempted or purported termination by Guarantor shall be effective unless receipt of the notice of termination is acknowledged by Lender thereof in writing. Termination shall apply only to principal portions of the Guaranteed Obligations arising after Lender has confirmed in writing receipt of such notice of termination and shall apply only to such Guaranteed Obligations with respect to which Lender was not obligated to advance credit to Borrower prior to confirmation in writing of receipt of such notice of termination. The notice of termination shall not relieve Guarantor of any of the Guaranteed Obligations: (i) incurred by Borrower before delivery (and confirmation of receipt thereof) of the notice of termination; (ii) arising from and out of Lender's commitments and agreements to extend credit to Borrower made before delivery (and confirmation of receipt thereof) of the notice of termination; and (iii) consisting of accrued interest, actual attorney fees, premiums, and other costs, charges, and monies owing under or pursuant to any of the instruments, documents, agreements, or contracts evidencing or comprising any of the Guaranteed Obligations. Termination of this Guaranty may constitute an event of default under the Guaranteed Obligations.
Guaranty Irrevocable. This Guaranty is a continuing guaranty and shall remain in full force and effect, and may not be revoked by Guarantor, until all indebtedness and liabilities of the Charterer under the Guaranteed Obligations are paid in full, in good and indefeasible funds, and all obligations of the Charterer under the Guaranteed Obligations are fully performed.