When you or an employee of your company signs a personal guaranty (Personal Financial Statement), you/they are acknowledging and agreeing to the following:
"I authorize Innovation Finance USA LLC, to obtain a consumer credit report for the purpose of evaluating credit worthiness.
I understand that Innovation Finance USA LLC intends to use the credit report for the purposes of confirming my residency address, verifying other credit information, including past and present mortgages, and evaluating whether my income is eligible to support the loan/lease for which the above referenced Borrower/Lessee has applied.
I understand that in conjunction with the credit report, Innovation Finance USA LLC may ask me to verify past and
present employment earnings records, bank accounts, stockholdings, and any other asset balances that are needed to process the loan/lease application.
I understand that the credit report obtained is to be used solely in the processing of the loan/lease application and that this information may only be shared with other agencies that have a direct connection with the processing of the credit application.
I understand that credit inquiries have the potential to impact my credit score.
I understand that any credit report will be retained on file by Innovation Finance USA LLC along with all other credit application documents. This authorization expires 120 days from the date indicated below.
FEDERAL EQUAL CREDIT OPPORTUNITY ACT:
The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to enter into a binding contract); because all or part of the applicant's income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The Federal Agency that administers compliance with this law concerning this company is the Bureau of Consumer Financial Protection.
I certify that all of the information on this statement and any additional supporting information submitted with this statement is true, correct and complete. I understand that Innovation Finance USA LLC will rely on this information when making decisions regarding extending credit, financing or leasing. I certify that I have read this statement and I hereby authorize Innovation Finance USA LLC to obtain my consumer credit report.
Guaranteed Documents: All Promissory Note and Security Agreements or Lease Agreements made by and between Innovation Finance USA LLC (“Lender/Lessor”) and Borrower/Lessee, including all ancillary documents executed in connection therewith.
In order to induce Lender/Lessor, a Delaware corporation to enter into, accept or acquire the above-described Guaranteed Documents with, from or made by Borrower/Lessee and/or to advance monies or extend or continue to extend credit to or for the benefit of Borrower/Lessee under the Guaranteed Documents or other indebtedness to Lender/Lessor heretofore and hereafter made, each of the undersigned (“Guarantor”), jointly, severally and unconditionally guarantee to Lender/Lessor (i) the prompt and full payment when due, by acceleration or otherwise, of all sums now or any time hereafter due from Borrower/Lessee to Lender/Lessor under the Guaranteed Documents and any other indebtedness owed Lender/Lessor, whether matured or unmatured, fixed or contingent, now existing or hereafter and howsoever arising and (ii) the prompt, full and faithful performance and discharge by Borrower/Lessee of each and every agreement, undertaking, obligation, and warranty of any kind owed by or attributable to Borrower/Lessee under the terms, conditions, and provisions set forth in the Guaranteed Documents (“Borrower’s/Lessee’sObligations”).
This is a continuing guaranty that covers any and all obligations and liabilities of Borrower/Lessee to Lender/Lessor whether under equipment leases, equipment financing agreements, promissory notes and security agreements or otherwise (collectively an “Indebtedness”), and whether Borrower/Lessee may be liable with others and whether recovery upon such Indebtedness may be barred or otherwise unenforceable for any reason, including lapse of the statute of limitations or the bankruptcy of Borrower/Lessee except for Indebtedness created after actual receipt by Lender/Lessor of written notice of this Guaranty's revocation as to future Indebtedness. Extensions or other revisions of current Indebtedness and additional Indebtedness created pursuant to previously executed commitments shall not be considered new Indebtedness. Any such notice must be sent to Lender/Lessor by registered mail with U.S. Mail postage prepaid, addressed to Lender/Lessor at 30 Liftbridge Lane East, Suite 200, Fairport, NY 14450. If more than one person has signed this Guaranty, a notice from only one but less than all of the undersigned Guarantors will not affect any
other Guarantor's liability. Guarantor(s) have read this Guaranty, understand its terms and conditions and are fully aware of the obligations committed to hereunder. This Guaranty shall be binding on Guarantor(s)’ estates, heirs, and successors. Guarantor(s) have had the opportunity to have counsel for their choice review this Guaranty and agree to execute this Guaranty of their own free will and understand all provisions.
This Unconditional Guaranty is absolute, unconditional and a continuing guaranty which covers and secures the present and future amounts due or that may become due under the Guaranteed Documents. The liability of Guarantor hereunder shall in no event be affected or impaired by any renewals, amendments, modifications or supplements of or to any of the Guaranteed Documents, or by any extensions, forbearances, compromises or releases of any of Borrower’s/Lessee’s Obligations or any of Lender’s/Lessor’s rights under any of the Guaranteed Documents and Guarantor hereby consents to and waives notice of any of the foregoing. Guarantor expressly waives any objections or defenses relating to (i)the diligence in collection of or any failure or delay by Lender/Lessor in protection, perfection or enforcement of Lender’s/Lessor’s rights under the Guaranteed Documents or in or to any collateral securing any of Borrower’s/Lessee’s Obligations, (ii) notice of acceptance by Lender/Lessor of this Unconditional Guaranty or of any of the Guaranteed Documents, (iii) notice of leasing or financing of any additional property to Borrower/Lessee under any additional schedule to the Guaranteed Documents, (iv) notice of advancement of any funds to or for the benefit of Borrower/Lessee, (v) all other notices and formalities to which Borrower/Lessee and/or Guarantor may be entitled, by statute or otherwise, (vi) any defense based upon any election of remedies by Lender/Lessor, including without limitation an election to proceed by non-judicial foreclosure rather than judicial foreclosure which may destroy or impair any of Guarantor’s rights against Lender/Lessor for subrogation or reimbursement, and (vii) any other circumstances whatsoever which might constitute a defense to enforcement of this Unconditional Guaranty. Until all of Borrower’s/Lessee’s Obligations have been paid, carried out, and satisfied in full, Guarantor shall have no rights of subrogation. Guarantor furthers waives an y right of setoff, recoupment or counterclaim against Lender/Lessor with respect to any claim or demand Guarantor may at any time have against Borrower/Lessee, or against any other person or concern liable for Borrower’s/Lessee’s Obligations. As further security to Lender/Lessor, any and all debts or liabilities now or hereafter owing to Guarantor by Borrower/Lessee and/or by such other person or concern, and any lien, security or collateral granted, pledged, or given to Guarantor in connection therewith, are hereby subordinated to the claims and liens of, and assigned to, Lender/Lessor.
The obligations of Guarantor hereunder are and shall at all times be original, direct and primary obligations of Guarantor, as if Guarantor were the Borrower/Lessee. Lender/Lessor shall not in any event be obligated to pursue or exhaust any rights or remedies against Borrower/Lessee or others, or resort to any security, prepayments or collateral as a prerequisite to enforcing this Unconditional Guaranty against Guarantor. The obligations of each Guarantor hereunder shall in no way be affected or impaired by reason of the occurrence from time to time of any of the following with respect to the Guaranteed Documents (i) the supplementing, modification or amendment (whether material or otherwise) of any of the Guaranteed Documents or any of the obligations of the Borrower/Lessee or of any Guarantor of the Guaranteed Documents; (ii) the voluntary or involuntary liquidation, dissolution, sale of all or substantially all of the property or other similar application or proceeding affecting the Borrower/Lessee or of any Guarantor of the Guaranteed Documents or any of their assets; (iii) the sale, transfer or conveyance of collateral held as security for payment or performance or any interest therein to any party, whether now or hereafter having or acquiring an interest in said collateral; (iv) the release of Borrower/Lessee from the performance or observance of any of the agreements, covenants, terms or conditions contained in the Guaranteed Documents or related documents by agreement or operation of law. This Unconditional Guaranty shall be binding upon Guarantor and his, her, its, or their respective heirs, personal representatives, successors and assigns, and shall inure to the benefit of Lender/Lessor and its successors and assigns. All amounts due under this Unconditional Guaranty are payable by Guarantor on demand, together with costs, expenses and attorneys’ fees and costs incurred by Lender/Lessor in connection with or relating to enforcing Lender’s/Lessor’s rights and remedies against the Borrower/Lessee and financed property or collateral, including without limitation appraisers' and brokers' fees, collection costs and expenses incurred in connection with the repossession, storage and/or disposition of any financed property or collateral, plus all of the Lender’s/Lessor’s costs, expenses and attorneys’ fees incurred in connection with or relating to the collection of sums due pursuant to this Unconditional Guaranty and the enforcement of any or all of the rights and remedies under the Guaranteed Documents and this Unconditional Guaranty. For purposes hereof, the parties agree that attorneys’ fees are to be construed broadly to include any attorneys’ fees, including in-house counsel fees and paraprofessional fees, incurred by Lender/Lessor or its assigns, whether or not there is a lawsuit, and if there is a lawsuit, any fees and costs for any proceeding, including any insolvency, collection, class action, appeals or other proceedings and any other legal fee expenditures incurred by Lender/Lessor arising out of or related to and/or the exercise of any one or more rights and remedies available under the Guaranteed Documents, this Unconditional Guaranty or any other remedy allowed under the Uniform Commercial Code ("UCC") and/or applicable statutory or common law.
If Guarantor is a corporation or other business organization, each signatory on behalf of each such organization represents and warrants that he/she has authority to sign on behalf of such corporation and by so signing, to bind said corporation hereunder. If Guarantor is the spouse of Borrower/Lessee or another Guarantor of the Guaranteed Documents, it is the intent of each and every such spouse to obligate and to bind, and each and every such spouse does hereby obligate and bind, to the performance of this Unconditional Guaranty the separate estate of such spouse together with all of the joint and/or community property of such spouse and the respective spousal community thereof.
Guarantor hereby agrees this Unconditional Guaranty shall be governed in all respects by the laws of the State of New York and that all actions or proceedings arising directly or indirectly from this Unconditional Guaranty shall be litigated only in courts (state or federal) having situs in the State of New York and the County of Monroe unless Lender/Lessor, in its sole discretion, waives this provision. Guarantor hereby expressly submits and consents in advance to such jurisdiction in any action or proceeding commenced by Lender/Lessor in any state or federal court located within the State of New York. GUARANTOR WAIVES ANY CLAIM THAT ANY ACTION INSTITUTED BY LENDER/LESSOR HEREUNDER IS IN AN INCONVENIENT FORUM OR AN IMPROPER FORUM BASED ON LACK OF VENUE AND GUARANTOR HEREBY UNEQUIVOCALLY AND IRREVOCABLY WAIVES ANY RIGHT TO TRIAL BY JURY.
No modification or waiver of any of the provisions of this Unconditional Guaranty shall be effective unless in writing and agreed to by Guarantor and signed by an authorized officer of Lender/Lessor. Guarantor agrees to furnish to Lender/Lessor such financial information concerning the Guarantor as Lender/Lessor may reasonably request from time to time, including, without limitation, a certified audit report of any business operated by Guarantor. If any provision of this Unconditional Guaranty or the application thereof is hereafter held invalid or unenforceable, the remainder of this Unconditional Guaranty shall not be affected thereby, and for this purpose the provisions of this Unconditional Guaranty are declared severable. Guarantor authorizes Lender/Lessor to obtain credit bureau reports and make any other credit inquiries that Lender/Lessor determines are appropriate, in Lender’s/Lessor’s sole discretion. This Unconditional Guaranty may be executed in any number of counterparts and by different parties on separate counterparts, each of which, when executed and delivered, shall be deemed to be an original, and all of which, when taken together, shall constitute but one and the same Unconditional Guaranty. Delivery of an executed counterpart of this Unconditional Guaranty by e-mail or other electronic means shall be equally as effective as delivery of a manually executed counterpart. Any party delivering an executed counterpart of this Unconditional Guaranty by e-mail or other electronic means also shall deliver a manually executed counterpart of this Unconditional Guaranty but the failure to deliver a manually executed counterpart shall not affect the validity, enforceability, and binding effect of this Unconditional Guaranty.