Examples of Guaranteed Debt in a sentence
In addition, as a separate and continuing promise which is independent of the Borrower’s promises to us, the Guarantor promises to pay us immediately on demand the amount that we would otherwise have been able to recover (on a full indemnity basis) if we cannot recover any Guaranteed Debt from the Borrower for any reason.
The Guarantor is liable under this Agreement in relation to the Guaranteed Debt as a sole and principal debtor and not as a surety.
This Guaranty is a continuing and irrevocable guaranty of the Guaranteed Debt and shall remain in full force and effect until the Guaranteed Debt and any other services or amounts payable under this Guaranty, is paid in full.
Additional Debt shall be subject to the following conditions: (a) It shall not be covered by the FLG2; (b) It may be secured provided that it is subordinate to the Guaranteed Debt; and (c) It must satisfy the DER and DSCR-based tests on prospective, aggregate basis (taking into account the Guaranteed Debt and the Additional Debt) throughout the term of the Additional Debt.
The only Lenders’ Event of Default in respect of the Guaranteed Debt shall be the failure by a Borrower and the Guarantor to pay a scheduled principal and interest payment.