Common use of Construction of this Guarantee Clause in Contracts

Construction of this Guarantee. This Guarantee is intended to give rise to absolute and unconditional obligations on the part of Completion Guarantor; hence, in any construction hereof, notwithstanding any provision of any transaction document to the contrary, this Guarantee shall be construed strictly in favor of the Beneficiaries (and against Completion Guarantor) in order to accomplish its stated purpose.

Appears in 2 contracts

Samples: Sponsor Completion Guarantee (MGM Resorts International), Sponsor Completion Guarantee (CityCenter Holdings, LLC)

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Construction of this Guarantee. This Guarantee is intended to give rise to absolute and unconditional obligations on the part of Completion Guarantor; hence, in any construction hereof, notwithstanding any provision of any transaction document Transaction Document to the contrary, this Guarantee shall be construed strictly in favor of the Beneficiaries (and against Completion Guarantor) in order to accomplish its stated purpose.

Appears in 1 contract

Samples: MGM Mirage

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Construction of this Guarantee. This Guarantee is intended to give rise to absolute and unconditional obligations on the part of Completion Guarantorthe Guarantors; hence, in any construction hereof, notwithstanding any provision of any transaction document Senior Subordinated Note Document to the contrary, this Guarantee shall be construed strictly in favor of the Beneficiaries (and against Completion Guarantor) Purchasers in order to accomplish its stated purpose.

Appears in 1 contract

Samples: To Note Purchase Agreement (Panther Expedited Services, Inc.)

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