Example ContractsClausesjoint negotiationVariants
Remove:

Joint and Several. If there is more than one Guarantor, each Guarantor jointly and severally guarantees the payment and performance in full of all obligations under this Guaranty and the term “Guarantor” means each as well as all of them. Guarantor also agrees that the Bank need not seek payment from any source other than the undersigned Guarantor. This Guaranty is a primary obligation. Guarantor’s obligations hereunder are separate and independent of Borrower’s, and a separate action may be brought against Guarantor whether or not action is brought or joined against or with Borrower or any other party.

Joint and Several. If there is more than one Guarantor,. The obligations of each Guarantor jointlyhereunder are those of primary obligor, and severally guaranteesnot merely as surety, and are independent of the payment and performance in full of all obligations under this GuarantyGuaranteed Obligations and the term “Guarantor” means each as well as allobligations of them. Guarantor also agrees thatany other guarantor of the Bank need not seek payment fromGuaranteed Obligations or any source other than the undersigned Guarantor. This Guaranty is a primary obligation. Guarantor’s obligations hereunder are separate and independent of Borrower’s,part thereof, and a separate action may be brought against any Guarantor to enforce this Guaranty whether or not action is brought or joined against or withthe Borrower or any other Person is joined as a party. For the avoidance of doubt, all obligations of each Guarantor under this Guaranty are joint and several obligations of all the [[Loan Parties:Organization]].

Select clause to view document information.

Draft better contracts
faster with AllDrafts

AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.

And AllDrafts generates clean Word and PDF files from any draft.