GUARANTOR
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CREDITOR —
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This Personal Guaranty (this “Guaranty”) is made as of by , an individual residing at (the “Guarantor”), in favor of , a with an address at (the “Creditor”), with respect to the obligations of Galaxy Holdings, a TX LLC (the “Company”).
The Guarantor absolutely, unconditionally, and irrevocably guarantees to the Creditor the full and prompt payment and performance when due of all present and future obligations of the Company to the Creditor under , including all principal, interest, fees, and costs of enforcement (the “Guaranteed Obligations”).
The Guarantor’s aggregate liability under this Guaranty for principal shall not exceed , plus accrued interest on that amount and the Creditor’s costs of enforcement, including reasonable attorneys’ fees.
This is a guaranty of payment and performance, not merely of collection. The Creditor may proceed directly against the Guarantor upon a default by the Company without first proceeding against the Company, exhausting any collateral, or pursuing any other remedy. The Guarantor’s obligations are independent of those of the Company.
This Guaranty is a continuing guaranty and remains in full force until all Guaranteed Obligations are paid and performed in full. It applies to obligations arising both before and after any interruption in the Company’s dealings with the Creditor.
The Guarantor waives: (a) presentment, demand, protest, and notice of dishonor; (b) notice of acceptance of this Guaranty and notice of any default by the Company; (c) any requirement that the Creditor proceed first against the Company or any collateral; and (d) any defense based on the Creditor’s modification, extension, or release of the Guaranteed Obligations or any collateral, all of which the Creditor may do without notice to or consent of the Guarantor and without affecting the Guarantor’s liability.
Until the Guaranteed Obligations are paid in full, the Guarantor subordinates any claim the Guarantor may have against the Company, including rights of subrogation, reimbursement, and contribution, to the Creditor’s claims against the Company.
The Guarantor represents that the Guarantor has the legal capacity to enter into this Guaranty, that the Guarantor has a direct economic interest in the Company, and that this Guaranty is supported by adequate consideration.
This Guaranty is governed by the laws of the State of TX, without regard to its conflict-of-laws principles. This Guaranty is binding upon the Guarantor’s heirs, executors, and personal representatives, and inures to the benefit of the Creditor and its successors and assigns. It may be executed in counterparts, including by electronic signature.
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