Effectiveness. The obligations of each Guarantor under this Guaranty shall continue in full force and effect and shall remain in operation until all of the Obligations shall have been paid in full or otherwise fully satisfied, and continue to be effective or be reinstated, as the case may be, if at any time payment or other satisfaction of any of the Obligations is rescinded or must otherwise be restored or returned upon the bankruptcy, insolvency, or reorganization of the Borrowers, or otherwise, as though such payment had not been made or other satisfaction occurred. No invalidity, irregularity or unenforceability of the Obligations by reason of applicable bankruptcy laws or any other similar law, or by reason of any law or order of any government or agency thereof purporting to reduce, amend or otherwise affect the Obligations, shall impair, affect, be a defense to or claim against the obligations of any Guarantor under this Guaranty.

Each Guarantor further agrees that its obligations of each Guarantor under this Guarantyhereunder shall continue in full force and effect and shall remain in operation until all of the Obligations shall have been paid in full or otherwise fully satisfied, and continue to be effective or be reinstated, as the case may be, if at any time paymentpayment, or other satisfactionany part thereof, of any of the ObligationsObligation is rescinded or must otherwise be restored or returnedby any Guaranteed Party upon the bankruptcy, insolvency,bankruptcy or reorganization of the Borrowers,Borrower or otherwise, as though such payment had not been made or other satisfaction occurred. No invalidity, irregularity or unenforceability of the Obligations by reason of applicable bankruptcy laws or any other similar law, or by reason of any law or order of any government or agency thereof purporting to reduce, amend or otherwise affect the Obligations, shall impair, affect, be a defense to or claim against the obligations of any Guarantor under this Guaranty.otherwise.

Each Guarantor agrees that its obligations of each Guarantor under this Guarantyhereunder shall continueremain in full force and effect anduntil released in accordance with [Section 2(b)]. Each Guarantor further agrees that its obligations herein shall remain in operation until all of the Obligations shall have been paid in full or otherwise fully satisfied, and continue to be effective or be reinstated, as the case may be, if at any time paymentpayment, or other satisfactionany part thereof, of principal of or interest on any of the ObligationsObligation is rescinded or must otherwise be restored or returnedby any Guaranteed Creditor upon the bankruptcy, insolvency,bankruptcy or reorganization of the Borrowers,Borrower or otherwise, as though such payment had not been made or other satisfaction occurred. No invalidity, irregularity or unenforceability of the Obligations by reason of applicable bankruptcy laws or any other similar law, or by reason of any law or order of any government or agency thereof purporting to reduce, amend or otherwise affect the Obligations, shall impair, affect, be a defense to or claim against the obligations of any Guarantor under this Guaranty.otherwise.

This Guaranty shall continue in full force and effect and shall remain in operation until all of the Obligations shall have been paid in full or otherwise fully satisfied, and continue to be effective or be reinstated, as the case may be, if at any time any payment or other satisfaction of any of the Obligations is rescinded or must otherwise be restoredreturned by the ​ or returnedany Lender upon the bankruptcy, insolvency, bankruptcy or reorganization of the Borrowers,Assignee or otherwise, all as though such payment had not been made or other satisfaction occurred. No invalidity, irregularity or unenforceability of the Obligations by reason of applicable bankruptcy laws or any other similar law, or by reason of any law or order of any government or agency thereof purporting to reduce, amend or otherwise affect the Obligations, shall impair, affect, be a defense to or claim against the obligations of any Guarantor under this Guaranty.made.