Common use of Severability of Obligations; Statute of Limitations Clause in Contracts

Severability of Obligations; Statute of Limitations. The obligations of the Guarantor under this Guaranty are independent of the obligations of the Borrower or any other Person, and a separate action or actions may be brought and prosecuted against the Guarantor whether or not action is brought against the Borrower or any other Person and whether or not the Guarantor, the Borrower or any Person be joined in any such action or actions. The Guarantor waives, to the fullest extent permitted by law, the benefit of any statute of limitations affecting its liability under this Guaranty or the enforcement of any such statute of limitations. Any payment by the Borrower or other circumstance that operates to toll any statute of limitations as to the Borrower shall operate to toll the statute of limitations as to the Guarantor.

Severability of Obligations; Statute of Limitations. The obligations of the Guarantor under this Guaranty are independent of the obligations of the Borrower Company or any other Person, and a separate action or actions may be brought and prosecuted against the Guarantor whether or not action is brought against the Borrower Company or any other Person and whether or not the Guarantor, the Borrower Company or any Person be joined in any such action or actions. The Guarantor waives, to the fullest extent permitted by law, the benefit of any statute of limitations affecting its liability under this Guaranty or the enforcement of any such statute of limitations. Any payment by the Borrower Company or other circumstance that operates to toll any statute of limitations as to the Borrower Company shall operate to toll the statute of limitations as to the Guarantor.