Common use of Payments by the Guarantor Clause in Contracts

Payments by the Guarantor. The Guarantor shall pay, upon request by LBS, the amount of the Obligations or of any part of such Obligations as requested by LBS, as well as the interest calculated daily and compounded monthly, from the time of the request up to the complete and total payment. The interest rate shall be the rate established from time to time by LBS as the rate applicable to debit balances in accounts held with LBS. Any amount indicated by LBS as unpaid by the Client shall be construed, in the absence of patently obvious errors, to be the amount that the Client owes LBS. LBS is authorized to make more than one request pursuant to this Guarantee Agreement and no LBS request or no Guarantor payment shall result in the cancellation or the extinguishment of this Guarantee Agreement.