Common use of Primary Liability of the Guarantor Clause in Contracts

Primary Liability of the Guarantor. The Guarantor agrees that this Guaranty may be enforced by the Bank without the necessity at any time of resorting to or exhausting any other security or collateral and without the necessity at any time of having recourse to the Notes or otherwise, and that Guarantor hereby waives the right to require the Bank to proceed against the Borrower or any co-guarantor or to require the Bank to pursue any other remedy or enforce any other right. The Guarantor further agrees that the Guarantor shall have no right of subrogation, reimbursement or indemnity whatsoever, unless and until all of the Indebtedness of the Borrower to the Bank has been paid in full. The Guarantor further agrees that nothing contained herein shall prevent the Bank from suing on the Notes or from exercising any other rights available to it under any of the Loan Documents, if neither the Borrower nor the Guarantor timely performs the obligations of the Borrower thereunder, and the exercise of any of the aforesaid rights shall not constitute a discharge of any of the Guarantor's obligations

Primary Liability of the Guarantor. The Guarantor agrees that this Guaranty may be enforced by the Bank without the necessity at any time of resorting to or exhausting any other security or collateral and without the necessity at any time of having recourse to the Notes or otherwise, and that Guarantor hereby waives the right to require the Bank to proceed against the Borrower or any co-guarantor or to require the Bank to pursue any other remedy or enforce any other right. The Guarantor further agrees that the Guarantor shall have no right of subrogation, reimbursement or indemnity whatsoever, unless and until all of the Indebtedness of the Borrower to the Bank has been paid in full. The Guarantor further agrees that nothing contained herein shall prevent the Bank from suing on the Notes or from exercising any other rights available to it under any of the Loan Documents, if neither the Borrower nor the Guarantor timely performs the obligations of the Borrower thereunder, and the exercise of any of the aforesaid rights shall not constitute a discharge of any of the Guarantor's obligationsand