Guaranty Liabilities Sample Clauses

Guaranty Liabilities. Party B shall assume joint and several guaranty liabilities for all debt covered by the guaranty. If the Loanee fails to perform his obligations to repay the due debt, Party A may claim against both the Loanee and Party B directly. Party B shall irrevocably authorize Party A to deduct the interest owed and due principal from Party B’s bank account directly if the Loanee owes the interest or fails to pay off when the main debt is due (including expiration of the Contract or expiration of the Contract ahead of time). Party B commits that his performance of the guaranty liabilities shall not be based on the Loaner’s exercise of the real rights for security (including the Main Loanee’s real rights for security) hereunder first.
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Guaranty Liabilities. I. Once the debts under the master contract are expired or Party B announces in advance the expiration of debts according to the master contract or legal stipulations but the debtor fails to fulfill in full amount and in a timely manner or debtor breaches other provisions of the master contract, Party A shall immediately bear guaranty liabilities within the guaranty scope. II. No matter whether Party B has other guaranty of credits under the master contract (including but not limited to various guaranty methods such as guaranty, mortgage, pledge, guaranty letter and standby L/C), when above other guarantee is valid and established, whether Party B raises right statement to other guarantor, whether third party has agreed to bear total or partial debts under the master contract and whether other guaranty is provided by the debtor, Party A’s guaranty liabilities under the contract are not reduced or exempted. Party B can directly require Party A to bear guaranty liabilities within the guaranty scope according to the contract; Party A can not raise any objections. III. Once Party A only provides guaranty for partial debts under the master contract, Party A agrees that even though debtor repays and Party B realizes partial elimination of other guaranty rights or debts under the master contract due to any other reason, Party A shall still bear guaranty liabilities for the rest debts within the guaranty scope according to this contract. IV. Once Party A only provides guaranty for partial debts under the master contract and debts under the master contract after undertaking of guaranty liabilities are not completely repaid, Party A promises to declare (including pre-exercise) the subrogation right or claim right to the debtor or other guarantor and shall not lead to any damage against Party B’s interests. Besides, it agrees that repayment of debts under the master contract is prior to Party A’s subrogation right or claim right. Specifically speaking, before total repayment of Party B’s credits: (I) Party A agrees not to declare subrogation right or claim right to the debtor or other guarantor; once Party A has realized the above rights due to any reason, it shall utilize the expense to first repay Party B’s credits without repayment; (II) Once the debts under the master contract have object guaranty, Party A agrees not to declare rights to the guaranteed articles or expense upon treatment by reason of exercising the subrogation right or due to any other reason. It ...
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Guaranty Liabilities. The term “
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Guaranty Liabilities. 11.2(a) Hawaii Disposition......................................................7.2(g) Hawaii Joint Venture Ownership Interests .............................
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Guaranty Liabilities 
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Related to Guaranty Liabilities

  • ERISA Liabilities The Borrower shall not, and shall cause each of its ERISA Affiliates not to, (i) permit the assets of any of their respective Plans to be less than the amount necessary to provide all accrued benefits under such Plans, or (ii) enter into any Multiemployer Plan.

  • PARTY LIABILITY Contractor’s total liability under this Agreement, whether for breach of contract, warranty, negligence, strict liability, in tort or otherwise, is limited to the price of the particular products/services sold hereunder. Contractor agrees either to refund the purchase price or to repair or replace product(s) that are not as warranted. Contractor accepts liability to repay, and shall repay upon demand to END USER, any amounts determined by H-GAC, its independent auditors, or any state or federal agency, to have been paid in violation of the terms of this Agreement.

  • Litigation and Contingent Liabilities No litigation (including derivative actions), arbitration proceeding or governmental investigation or proceeding is pending or, to the Company’s knowledge, threatened against any Loan Party which might reasonably be expected to have a Material Adverse Effect, except as set forth in Schedule 9.6. Other than any liability incident to such litigation or proceedings, no Loan Party has any material contingent liabilities not listed on Schedule 9.6 or permitted by Section 11.1.

  • Warranty Liability 6.1 The Seller represents and warrants that: (i) the Goods shall comply with all specifications and requirements contained in the Order or agreed in writing between the Buyer and Seller; (ii) the Goods shall be state of the art and new; (iii) the Goods shall be fit for the particular purposes that such specific Goods will usually be expected to be used for; (iv) the Goods shall be free from defects in design, materials and workmanship; (v) the Goods shall satisfactorily comply with the performance requirements expected by the Buyer; and (vi) the Goods shall meet all applicable statutory requirements and standards, especially those relating to the environment, safety and health (individually “Warranty” and collectively the “Warranties”). Any representations or warranties relating to the Goods and included in the Seller's catalogues, brochures, proposals, sales literature and quality systems or otherwise made by the Seller to the Buyer (whether verbally or in writing) shall be binding on Seller. The Seller warrants the adequacy of the technical specifications of the Order to meet the specific needs of the Buyer, and the Seller acknowledges having examined those specifications thoroughly. 6.2 The Seller warrants that all Goods sold and delivered to the Buyer (whether in terms of clause 4.1 or otherwise) are free from any lien or encumbrance of any nature whatsoever and upon delivery (whether in terms of clause 4.1 or otherwise), of the Goods to the Buyer, free and unencumbered ownership of the Goods shall pass to the Buyer upon receipt of payment for the Goods and thereafter the Buyer will be the sole owner of, and have valid and exclusive title to, the Goods. The Seller warrants further that no third party shall have any right to acquire the Goods. 6.3 The Seller warrants that the Goods will comply with the Manufacturers’ Warranty from date of delivery thereof. 6.4 If any Goods at any time are found not to comply with the Manufacturers’ Warranty, the Buyer shall be entitled, at its sole discretion, by written notice to the Seller to: (a) rescind the Order according to the provisions of clause 10 (Termination); (b) accept such Goods with a reduction in price equal to a reasonable estimate of the reduced utility of the Goods to the Buyer; or

  • Contingent Liabilities Assume, guarantee, endorse or otherwise become contingently liable for the obligation of any Person except by endorsement of negotiable instruments for deposit or collection in the ordinary course of business, and except for obligations arising in connection with the sale of Mortgage Loans with recourse in the ordinary course of Borrower's business.