Guaranty
91limited guaranty — A guaranty agreement that includes a statement that limits the guarantor s liability to the bank to a defined amount. American Banker Glossary …
92payment guaranty — A guaranty in which the signer is guarantying payment of the obligation upon the borrower s failure to pay without the bank having to first attempt to collect from the borrower or from any collateral. American Banker Glossary …
93Pension Benefit Guaranty Corporation — ( PBGC) A U.S. Government agency that was created to insure guaranteed pension benefits. PBGC has statutory authority to claim up to 30% of the net assets of a firm that sponsors a pension plan when an underfunded plan is terminated. Such a PBGC… …
94unlimited guaranty — A guaranty agreement that does not include any provisions restricting the amount of debt guaranteed. American Banker Glossary …
95upstream guaranty — A phrase sometimes used to describe a guaranty of a loan to a borrowing entity when the borrowing entity is a parent company or stockholder of the guarantor. American Banker Glossary …
96contract of guaranty — A promise to pay or an assumption of performance of some duty upon the failure of another who is primarily obligated in the first instance. Ammerman v. Miller, 488 F.2d 1285, 1293, 159 U.S.App. D.C. 385. See also guaranty …
97limited guaranty — A limited guaranty is ordinarily one restricted in its application to a single transaction. Cooling v. Springer, 3 Terry 228, 30 A.2d 466, 469 …
98contract of guaranty — A promise to pay or an assumption of performance of some duty upon the failure of another who is primarily obligated in the first instance. Ammerman v. Miller, 488 F.2d 1285, 1293, 159 U.S.App. D.C. 385. See also guaranty …
99limited guaranty — A limited guaranty is ordinarily one restricted in its application to a single transaction. Cooling v. Springer, 3 Terry 228, 30 A.2d 466, 469 …
100absolute guaranty — An unconditional undertaking on the part of the guarantor that the debtor will pay the debt or perform the obligation. 24 Am J1st Guar § 16; Anno: 53 ALR2d 525. A contract of guaranty is absolute where one absolutely guarantees the payment of… …
