Common use of Validity of Guaranty Clause in Contracts

Validity of Guaranty. (i) The execution, delivery and performance by Guarantor of this Guaranty (A) have received all necessary governmental approval, (B) will not violate (1) any provision of law, any order of any court or agency of government, or (2) any indenture or other material agreement or material instrument to which Guarantor is a party or by which Guarantor or his property is bound, or be in conflict with, result in a breach of or constitute (with due notice and/or lapse of time) a default under any such indenture or other material agreement or other material instrument which would accelerate, or permit the acceleration of, the maturity of the indebtedness secured thereby, or result in the creation or imposition of any lien, charge or encumbrance of any nature whatsoever upon any of its property or assets, except as contemplated by the provisions of the Loan Documents and (D) do not require any notice to or approval or consent of any Person under any material agreement of Guarantor. (ii) This Guaranty, when delivered to Lender, will constitute the legal, valid and binding obligation of Guarantor, enforceable against Guarantor in accordance with its terms, subject to applicable bankruptcy law in the event of a bankruptcy filing by or against Guarantor.