Scope of Guaranty Clause Samples
The "Scope of Guaranty" clause defines the extent and limitations of the obligations that the guarantor is agreeing to cover under the guaranty agreement. It typically specifies which debts, liabilities, or obligations are guaranteed, whether the guaranty is limited to a certain amount or type of obligation, and if it covers present and future obligations. For example, it may clarify whether the guaranty applies only to a specific loan or to all obligations of the debtor to the creditor. This clause is essential for ensuring both parties understand the boundaries of the guarantor's responsibility, thereby preventing disputes over the guarantor's liability and providing certainty regarding risk allocation.
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Scope of Guaranty. (a) Guarantor hereby absolutely, unconditionally and irrevocably guarantees to Lender each of the following:
(i) Guarantor guarantees the full and prompt payment when due, whether at the Maturity Date or earlier, by reason of acceleration or otherwise, and at all times thereafter, of each of the following:
(A) Guarantor guarantees a portion of the Indebtedness equal to 0% of the original principal balance of the Note (“Base Guaranty”).
(B) In addition to the Base Guaranty, Guarantor guarantees all other amounts for which Borrower is personally liable under Sections 9(c), 9(d) and 9(f) of the Note (provided, however, that Guarantor will have no liability for failure of Borrower or SPE Equity Owner to comply with (I) Section 6.13(a)(xviii) of the Loan Agreement, and (II) the requirement in Section 6.13(a)(x)(B) of the Loan Agreement as to payment of trade payables within 60 days of the date incurred).
(C) Guarantor guarantees all costs and expenses, including reasonable Attorneys’ Fees and Costs incurred by Lender in enforcing its rights under this Guaranty.
(ii) Guarantor guarantees the full and prompt payment and performance of, and compliance with, all of Borrower’s obligations under Sections 6.12, 10.02(b) and 10.02(d) of the Loan Agreement when due and the accuracy of Borrower’s representations and warranties under Section 5.05 of the Loan Agreement.
(iii) Guarantor guarantees the full and prompt payment and performance of, and compliance with, Borrower’s obligations under Section 6.09(e)(v) of the Loan Agreement to the extent Property Improvement Alterations have commenced and remain uncompleted.
(iv) Reserved.
Scope of Guaranty. (a) Guarantor hereby absolutely, unconditionally and irrevocably guarantees to Lender:
(i) the full and prompt payment when due, whether at the Maturity Date or earlier, by reason of acceleration or otherwise, and at all times thereafter, of each of the following:
(A) a portion of the Indebtedness equal to zero percent (0%) of the original principal balance of the Note (the "Base Guaranty"); and
(B) in addition to the Base Guaranty, all other amounts for which Borrower is personally liable under Sections 9(c), 9(d) and 9(f) of the Note; and
(C) all costs and expenses, including reasonable Attorneys' Fees and Costs incurred by ▇▇▇▇▇▇ in enforcing its rights under this Guaranty; and
(ii) the full and prompt payment and performance when due of all of Borrower’s obligations under Section 18 of the Security Instrument.
(b) If the Base Guaranty stated in Section 2(a)(i)(A) is 100 percent of the original principal balance of the Note, then
(i) the Base Guaranty shall mean and include the full and complete guaranty of payment of the entire Indebtedness and the performance of all Borrower’s obligations under the Loan Documents; and (ii) for so long as the Base Guaranty remains in effect (there being no limit to the duration of the Base Guaranty unless otherwise expressly provided in this Guaranty), the obligations guaranteed pursuant to Sections 2(a)(i)(B), 2(a)(i)(C) and Section 3 shall be part of, and not in addition to or in limitation of, the Base Guaranty. If the Base Guaranty stated in Section 2(a)(i)(A) is less than 100 percent of the original principal balance of the Note, then this Section 2(b) shall be completely inapplicable and shall be treated as if not a part of this Guaranty.
(c) If Guarantor is not liable for the entire Indebtedness, then all payments made by Borrower with respect to the Indebtedness and all amounts received by Lender from the enforcement of its rights under the Security Instrument and the other Loan Documents (except this Guaranty) shall be applied first to the portion of the Indebtedness for which neither Borrower nor Guarantor has personal liability.
Scope of Guaranty. The Agreement is an agreement of suretyship and a guaranty of payment and not of collection. The liability of the Guarantor hereunder is absolute, primary, unlimited and unconditional and shall not be reduced, impaired or affected in any way by reason of (a) any failure to obtain, retain or preserve, or the lack of prior enforcement of, any rights against any Person or Persons liable for the Obligations (including Borrowers and the Guarantor), (b) the invalidity, unenforceability or voidability of any Obligations or any liens or rights by any Person or Persons, (c) any delay in making demand upon any Borrower or any delay in enforcing, or any failure to enforce, any rights against any Borrower or any other Person or Persons liable for any or all of the Obligations or in any collateral pledged by any Person or Persons, even if such rights are thereby lost, (d) any failure, neglect or omission on Lender’s part to obtain, perfect or continue any lien upon, protect, exercise rights against, or realize on the Borrower, the Guarantor or any other party securing the Obligations, (e) the existence or nonexistence of any defenses which may be available to any Borrower with respect to the Obligations, (f) the granting of any waiver or forbearance at any time and for any period with respect to any performance by any Borrower or any Event(s) of Default under the Preferred Stock Agreement, (g) the commencement of any bankruptcy, reorganization, liquidation, dissolution or receivership proceeding or case filed by or against any Borrower or any Guarantor or (h) any other fact, event, condition or omission which may give rise to suretyship defense or any other defense. Guarantor promises and undertakes to make all payments hereunder free and clear of any deduction, offset, defense, claim or counterclaim of any kind.
Scope of Guaranty. The guaranty covers principal, interests, default interest, compound interest, liquidated damages, all expenses incurred in the performance of the Creditor’s Rights (including but not limited to litigation fee, arbitration fee, attorney fee, travel expenses, enforcement fee, expenses for preservation of property, evaluation fees, charge for auction or disposition of property, transfer fee and announcement fee) and other payable expenses.
Scope of Guaranty. The scope of guaranty covers all loan principal, interest, penalty interest and all the expenses incurred to the Creditor in realizing its creditor’s right. The maximum loan principal shall not exceed RMB 150 Million yuan.
Scope of Guaranty. The Scope of Guaranty covers the capital of loan, interests, default interest, compound interest, penalty damages, legal fees, lawyer's fees and other fees for the Creditor to realize its creditor’s right.
Scope of Guaranty. Guarantor absolutely, unconditionally and irrevocably guarantees to Buyer (i) the full and prompt payment of all Recourse Obligations when due and payable and at all times thereafter, (ii) the full and prompt payment of all Enforcement Costs when due and payable and at all times thereafter and (iii) the full, complete and punctual observance, performance and satisfaction of all of the obligations, duties, covenants and agreements of Seller under the Purchase Agreement and the other Transaction Documents to the extent that any failure or delay by Seller in the observance, performance or satisfaction of such obligations, duties, covenants or agreements would constitute or give rise to a Recourse Obligation. All payment obligations described in clauses (i), (ii) or (iii) above are referred to herein as the “Guaranteed Obligations”, whether or not allowed or allowable as a claim in any bankruptcy or other insolvency proceeding, including any interest that would have accrued under the terms of any of the Transaction Documents.
Scope of Guaranty. (a) Guarantor hereby absolutely, unconditionally and irrevocably guarantees to Lender each of the following:
(i) Guarantor guarantees the full and prompt payment when due, whether at the Maturity Date or earlier, by reason of acceleration or otherwise, and at all times thereafter, of each of the following: Guarantor guarantees a portion of the Indebtedness (including interest at the Note rate) equal to [___]% of the original principal balance of the Note (“Base Guaranty”).
Scope of Guaranty. (a) Guarantor hereby absolutely, unconditionally and irrevocably guarantees to Lender each of the following:
Scope of Guaranty. The Guaranty shall be effective in accordance with its terms and conditions for all of the obligations as a private self-insurer under the Acts of each Additional Employer(s) and each of the other entities identified as “Employers” under the terms of the Guaranty, whether those obligations were incurred prior to, on or after the date hereof.