Common use of Right to Demand Full Performance Clause in Contracts

Right to Demand Full Performance. In the event of any demand for payment or performance by Lenders from any Guarantor hereunder, Lenders shall have the right to demand their full claims and to receive all dividends or other payments in respect thereof until the Obligations have been paid in full, and the Guarantors shall continue to be jointly and severally liable hereunder for any balance which may be owing to Lenders by the Borrowers under this Agreement, the Term Notes or any other Loan Document. The retention by the Lenders of any security, prior to the realization by the Lenders of their rights to such security upon foreclosure thereon, shall not, as between the Lenders and any Guarantor, be considered as a purchase of such security, or as payment, satisfaction or reduction of the Obligations due to the Lenders by the Borrowers or any part thereof. Without limiting Section 9.05 or any other provision of this Agreement, each Guarantor, promptly after demand, will reimburse the Lenders for all costs and expenses of collecting such amount under, or enforcing this Guarantee, including, without limitation, the reasonable fees and expenses of counsel.