Common use of Performance by Guarantor Clause in Contracts

Performance by Guarantor. If any Minimum Rent, Additional Rent or other amount due under the Lease shall not be paid, or any obligation not performed as required by the Lease or the Letter of Credit Agreement, then upon demand by Landlord, Guarantor shall pay within ten (10) days of demand by Landlord such sums and perform such obligations as required by the Lease or the Letter of Credit Agreement, as applicable, without regard to: (a) any defense, set-off, or counterclaim which Guarantor or Tenant (whether under the Lease or Letter of Credit Agreement) may have or assert; (b) whether or not Landlord shall have instituted any suit, action or proceeding or exhausted its remedies or taken any steps to enforce any rights against