May be required. Precision Temperature Inc. will inform you if this is a requirement for your business.
Personal Guarantee: As a material inducement to extend payment term flexibility (NET 30), the undersigned individual(s) hereby jointly and severally personally guaranty payment of all indebtedness owed by the Applicant to Precision Temperature Inc. or otherwise (“Obligations”). This is a continuing guaranty and includes any all indebtedness arising under current or future transactions or under successive transactions which either continue such Obligations then existing or new Obligations incurred by the Customer from time to time even after the original Obligations have been satisfied. Precision Temperature Inc. may without notice to any guarantor and without any affect on the enforceability of this guaranty: (a) renew, modify, compromise, extend, accelerate or otherwise change the time for payment of, or otherwise change the terms of any Obligations or any part thereof, including an increase or decrease of the rate of interest thereon; (b) release, substitute or add any one or more guarantors; (c) take and hold security for the Obligations, and enforce, exchange, substitute, subordinate, waive or release any such security; (d) proceed against such security and direct the order or manner of sale of such security as Precision Temperature Inc. in its discretion may determine; (e) apply any and all payments from Customer, Guarantor or any other guarantor in the sole discretion of Precision Temperature Inc. The Guarantors have read this agreement, the terms of which are incorporated herein. The undersigned authorize Precision Temperature Inc to obtain credit references and reports on guarantors to the extent that such information may be obtained from the customer as provided in the Payment Agreement. The undersigned understand they are obligating themselves to pay this Obligation out of their personal assets.