Personal Guarantee for ITL Inc.
In consideration of credit granted by ITL, Inc. (“ITL”) to ___________________________________________ (Applicant), THE UNDERSIGNED PERSONALLY GUARANTEES THE UNCONDITIONAL PAYMENT OF ANY UNPAID AMOUNT UPON APPLICANT'S ACCOUNT. This is a guarantee of payment and not merely of collection; no collection or civil action need be commenced against the Applicant prior to a demand being made upon the undersigned.
This is a continuing guarantee, and the obligations of the undersigned are limited, absolute, and unconditional. This continuing guarantee shall continue in effect until all of the obligations owing on the above account to ITL have been paid in full.
Guarantor agrees to indemnify and hold ITL harmless from and against all claims, actions, cause of action, demand, obligations, liabilities, losses, costs, and expenses in connection with, on account of, or in any related to or arising from the above-referenced account. This continuing guarantee shall not be affected on impaired by any modifications, supplements, extensions or amendment to any contract or agreement to which the parties thereto may hereafter agree.
Guarantor agrees to indemnify and hold ITL on account, or pursue any other remedy in the power of ITL, whatsoever. Guarantor waives and defense arising by reason of disability or any other defense, which the account debtor may have, or by reason of the cessation from any cause whatsoever of the liability on the above-reference account.
The death of Guarantor shall not terminate this continuing guarantee. This continuing guarantee shall be binding upon the heirs, executors, administrators, trustees, beneficiaries, successors, and assigned of Guarantor and shall insure to the benefits of ITL, its successors and assigns.
The validity of this continuing guarantee, its construction, interpretation, and enforcement and the right of the parties hereto shall be determined under, governed by, and constructed in accordance with the laws if the State of California.
Any actions under this guarantee may be brought in a court of competent jurisdiction in the County of Los Angeles, State of California.
Guarantor Name: (Print) First: ________________ Middle: ______________ Last: __________________
Guarantor Signature: _________________________ Date: ____________________________
Guarantor Social Security No. : _______________________
Guarantor Driver’s License No. ______________________ Issuing State: ___________________
Witnessed by: (Print) First: __________________ Middle: ______________ Last: ___________________
Witness Signature ______________________________ Date: ______________________________