Common use of Delivery of Additional Performance Guaranty Clause in Contracts

Delivery of Additional Performance Guaranty. (a) The Issuer agrees that the Issuer will cause the Additional Performance Guarantor to execute the Additional Performance Guaranty and on the Effective Date will cause the Additional Performance Guarantor to deliver the Additional Performance Guaranty to the Trustee for the benefit of the Noteholders, the Insurer and the Swap Counterparty. The Issuer and the Servicer hereby direct the Trustee to accept the Additional Performance Guaranty and upon the occurrence of a failure of CTRG-CF, the Issuer or a Seller to perform an Obligation, as defined in the Additional Performance Guaranty, the Trustee is hereby directed to demand performance of such Obligation by the Additional Performance Guarantor. Any funds received by the Trustee under the Additional Performance Guaranty shall, for purposes of the Agreement, be deemed to be, and shall be applied as, funds received under the Performance Guaranty.

Delivery of Additional Performance Guaranty. (a) The Issuer agrees that the Issuer will cause the Additional Performance Guarantor to execute the Additional Performance Guaranty and on the Effective Date will cause the Additional Performance Guarantor to deliver the Additional Performance Guaranty to the Trustee for the benefit of the Noteholders, the Insurer Noteholders and the Swap Counterparty. The Issuer and the Servicer hereby direct the Trustee to accept the Additional Performance Guaranty and upon the occurrence of a failure of CTRG-CFFAC, the Issuer or a Seller to perform an Obligation, as defined in the Additional Performance Guaranty, the Trustee is hereby directed to demand performance of such Obligation by the Additional Performance Guarantor. Any funds received by the Trustee under the Additional Performance Guaranty shall, for purposes of the Agreement, be deemed to be, and shall be applied as, funds received under the Performance Guaranty.

Delivery of Additional Performance Guaranty. (a) The Issuer agrees that the Issuer will cause the Additional Performance Guarantor to execute the Additional Performance Guaranty and on the Effective Date will cause the Additional Performance Guarantor to deliver the Additional Performance Guaranty to the Trustee for the benefit of the Noteholders, the Insurer and the Swap Counterparty. The Issuer and the Servicer hereby direct the Trustee to accept the Additional Performance Guaranty and upon the occurrence of a failure of CTRG-CFFAC, the Issuer or a Seller to perform an Obligation, as defined in the Additional Performance Guaranty, the Trustee is hereby directed to demand performance of such Obligation by the Additional Performance Guarantor. Any funds received by the Trustee under the Additional Performance Guaranty shall, for purposes of the Agreement, be deemed to be, and shall be applied as, funds received under the Performance Guaranty.