Guaranty of Payment and Performance
This Continuing Personal Guaranty (“Guaranty”) is executed as of ______ ___ , 20__, by:
Guarantor: ___________________________________________
Address: _______________________________________________
(“Guarantor”)
for the benefit of:
CARE CASH GLOBAL, a California Corporation (“Lender” or “CCG”)
in connection with that certain:
executed by:
Borrower: ___________________________________________ (“Borrower”)
1.1 Unconditional Guaranty. Guarantor absolutely, irrevocably, and unconditionally guarantees the full and punctual payment and performance of all Obligations of Borrower owed to Lender. This is a guaranty of payment and performance and not merely a guaranty of collection.
1.2 Obligations Guaranteed. This Guaranty secures:
1.3 Continuing Guaranty. This Guaranty shall remain in effect until: (a) all Obligations have been fully satisfied; and (b) Lender has released Guarantor in writing.
2.1 Primary Obligation. Guarantor’s liability shall be primary, direct, and immediate. Lender shall not be required to pursue Borrower, liquidate collateral, or exercise any remedy against Borrower before enforcing this Guaranty.
2.2 Joint and Several Liability. If multiple guarantors execute this Guaranty, each shall be jointly and severally liable.
2.3 Independent Obligation. The obligations of Guarantor are independent of Borrower’s obligations.
Guarantor waives:
3.1 Notice. Notice of acceptance; Notice of advances; Notice of default; Notice of dishonor; Notice of acceleration.
3.2 Presentment. Presentment; Demand; Protest.
3.3 Borrower Defenses. Any defense available to Borrower except payment in full.
4.1 Authority. Guarantor has authority to execute this Guaranty.
4.2 Financial Condition. Any financial information provided to Lender is accurate.
4.3 Benefit. Guarantor expects to receive direct or indirect benefit from the Credit Facility.
4.4 No Conflicts. Execution of this Guaranty does not violate any agreement binding upon Guarantor.
5.1 Financial Statements. Upon request, Guarantor shall provide Personal Financial Statements, Tax Returns, and other financial information reasonably requested by Lender.
5.2 Credit Review. Guarantor authorizes Lender to obtain Consumer Credit Reports, Credit Scores, and Financial Information in connection with underwriting, monitoring, renewal, collection, or enforcement activities.
Each Event of Default under the Credit Agreement shall constitute a default under this Guaranty.
Upon default, Lender may:
7.1 Demand Payment. Demand immediate payment from Guarantor.
7.2 Legal Proceedings. Commence legal proceedings against Guarantor.
7.3 Setoff. Exercise any lawful rights of setoff.
7.4 Simultaneous Remedies. Proceed simultaneously against Borrower, Guarantor, and Collateral, in any order selected by Lender.
Until all Obligations are paid in full, Guarantor waives Subrogation Rights; Contribution Rights; Reimbursement Rights; and Claims against Borrower.
Guarantor’s obligations shall survive Bankruptcy, Insolvency, Reorganization, and Receivership of Borrower.
Guarantor shall reimburse Lender for all reasonable Attorneys’ Fees, Court Costs, Collection Costs, and Enforcement Expenses incurred in connection with this Guaranty.
This Guaranty shall be governed by California law. Venue shall be Los Angeles County, California.
Electronic signatures and electronically transmitted copies shall be fully enforceable.
This Guaranty, together with the Loan Documents, constitutes the entire agreement regarding Guarantor’s obligations. No amendment shall be effective unless in writing and signed by Lender.