Additional Obligor definition

Examples of Additional Obligor in a sentence

• This is a guaranty of payment and not of collection and Guarantor expressly waives any right to require that any action be brought against any Borrower or any Additional Obligor or to require that resort be had to any security or to any deposit account or to any credit on the books of Bank in favor of any Borrower or any Additional Obligor or to any other right or remedy which may be available to Bank.

• Guarantor agrees that notwithstanding any of the foregoing actions Guarantor shall remain bound under this Guaranty and that the Guarantor’s obligations hereunder shall not be affected by the recovery of any judgment against any Borrower or any Additional Obligor or any action to enforce the same or any other circumstance which might otherwise constitute a legal or equitable discharge or defense of a guarantor.