CONTINUING GUARANTY
CONTINUING GUARANTY
TO: New Case Partner
The undersigned (the “Guarantor(s)”) as an inducement to Enterprise Leasing Company(A Maryland Corporation) d/b/a Enterprise Fleet Services, and its affiliates, or any of them, hereinafter referred to as “Lessor” to lease motor vehicle(s) and/or to provide other automotive services, including but not limited to service, maintenance, and/or rentals upon credit or otherwise, to _________________________________________________hereinafter referred to as “Lessee,” and in consideration of Lessor, in its discretion, leasing to or providing other services to lessee, as he/she/it may select, order and/or lease from Lessor, as Guarantor(s) hereby agrees as follows:
1. Guarantor(s) hereby jointly and severally guarantees the punctual payment of any debt that may become due to Lessor which may arise out of the lease of a motor vehicle by Lessee from Lessor or any other service performed by Lessor for Lessee, and further, Guarantor(s) jointly and severally guarantees the prompt performance of any and all other obligations of any kind which the Lessee may at any time hereafter owe to the Lessor. Guarantor(s) hereby waives notice of acceptance of this Guaranty, notice of default, notice of any amount due or past due, any performance due or past due and legal proceedings against Lessee. Guarantor(s) acknowledges that this is an open and Continuing Guaranty and shall continue in force notwithstanding any change in the form of the Lease or amendments, renewals or extensions thereof.
2. The undersigned acknowledges and agrees that all the provisions of this Guaranty are part of the consideration for the lease of the motor vehicle(s) by Lessor to Lessee and that said lease would not be entered into by Lessor without this Guaranty.
3. It is hereby agreed that no waiver or failure of Lessor to enforce any term, condition or requirement of payment of any indebtedness of the Lessee to Lessor shall be deemed to constitute a waiver or release, in whole or in part, of the Guarantor(s) on such indebtedness or performance. No waiver or failure to enforce any term, condition or requirement of this Guaranty shall be deemed to constitute a waiver of or release of any obligation of Guarantor(s) under the Guaranty. Lessor may exercise or refrain from exercising any rights against the Lessee or otherwise act or refrain from acting, and may settle or compromise any of the indebtedness or obligations with the Lessee, without releasing the Guarantor(s), but shall not thereby impair or affect any rights of the Guarantor(s) against the Lessee. If at any time hereinafter, Lessor employs any attorney to enforce payment under this Guaranty by the Guarantor(s), then the Guarantor(s) shall pay the reasonable attorney’s fees of Lessor as well as all other expenses, costs and charges relating to the collection of this Guaranty.
4. Guarantor(s) jointly and severally waives any right to require Lessor to (a) proceed against the Lessee or any indebted party, or (b) pursue any other remedy in Lessor’s power whatsoever. Further, Guarantor(s) waives any defense based on or arising out of any defense of the Lessee other than payment in full of the indebtedness.
5. This guaranty shall be deemed to be made under and shall be governed by the laws of the State of Missouri and in all respects, including construction, validity and performance of the terms or provisions hereof, may not be waived, altered or amended except in writing duly signed by any authorized agent or Lessor and by Guarantor(s).
6. If any of the terms of this Guaranty shall be held invalid under the laws of any jurisdiction, this Guaranty shall be construed as if not containing those provisions held invalid and the rights and obligations of the parties hereto shall be construed and enforced accordingly.
7. The Guarantor(s) agrees to provide financial statements to Lessor from time to time in accordance with requests of Lessor.
8. The obligations hereunder shall be continuing and irrevocable except as herein provided. Revocation may be made by Guarantor(s) by notice to Lessor in writing, sent by certified mail, return receipt requested or hand delivered with a written receipt for such delivery. Any such notice shall not affect or impair in any manner whatsoever the obligations of this Guaranty as to any indebtedness or liability of Lessee to the Lessor agreed to or existing at or before the time such notice is received.
9. This continuing guaranty shall be binding upon the estate(s), administrator(s), legal representative(s), successor(s) and assigns of the Guarantor(s).
IN TESTIMONY whereof, the undersigned have executed this Continuing Guaranty this ____ day of _________ , 2005.
Alan Riggs___________________________ Title ____________________
Guarantor
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