Principal Debtor. Each Guarantor declares that it is and will, throughout the Security Period, remain a principal debtor for all amounts owing under this Agreement and the Finance Documents and no Guarantor shall, in any circumstances, be construed to be a surety for the obligations of the other Guarantor under this Agreement.
Appears in 12 contracts
Sources: Loan Agreement (Ardmore Shipping Corp), Revolving and Accordion Facilities Agreement (Ardmore Shipping Corp), Loan Agreement (Ardmore Shipping Corp)
Principal Debtor. Each Guarantor declares that it is and will, throughout the Security Period, remain a principal debtor for all amounts owing under this Agreement and the Finance Documents and no Guarantor shall, in any circumstances, be construed to be a surety for the obligations of the any other Guarantor Obligor under this Agreement.
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