Common use of Modification of Obligations Clause in Contracts

Modification of Obligations. The undersigned expressly agrees to remain bound under this guaranty not-withstanding any of the following acts by the Company. (1) the extension of time of performance to, the granting of any other indulgence to, or any other modification of any obligation of, the Customer. (2) the acceptance, alteration or release of any security, whether provided by the Customer or any other person.

Appears in 4 contracts

Sources: Account Application and Agreement, Account Application and Agreement, Account Application and Agreement