Common use of Disputes with Holders of Certain Guarantor Senior Indebtedness Clause in Contracts

Disputes with Holders of Certain Guarantor Senior Indebtedness. Any failure by the Credit Supporter to make any payment on or perform any other obligation under Guarantor Senior Indebtedness, other than any indebtedness incurred by the Credit Supporter or assumed or guaranteed, directly or indirectly, by the Credit Supporter for money borrowed (or any deferral, renewal, extension or refunding thereof) or any indebtedness or obligation as to which the provisions of this Section shall have been waived by the Credit Supporter in the instrument or instruments by which the Credit Supporter incurred, assumed, guaranteed or otherwise created such indebtedness or obligation, shall not be deemed a default or event of default under Section 7.1.2(b) if (a) the Credit Supporter shall be disputing its obligation to make such payment or perform such obligation and (b) either (i) no final judgment relating to such dispute shall have been issued against the Credit Supporter which is in full force and effect and is not subject to further review, including a judgment that has become final by reason of the expiration of the time within which a party may seek further appeal or review, and (ii) in the event of a judgment that is subject to further review or appeal has been issued, the Credit Supporter shall in good faith be prosecuting an appeal or other proceeding for review and a stay of execution shall have been obtained pending such appeal or review.

Disputes with Holders of Certain Guarantor Senior Indebtedness. Any failure by the Credit Supporter Guarantor to make any payment on or perform any other obligation under Guarantor Senior Indebtedness, other than any indebtedness incurred by the Credit Supporter Guarantor or assumed or guaranteed, directly or indirectly, by the Credit Supporter Guarantor for money borrowed (or any deferral, renewal, extension or refunding thereof) or any indebtedness or obligation as to in which the provisions of this Section shall have been waived by the Credit Supporter Guarantor in the instrument or instruments by which the Credit Supporter Guarantor incurred, assumed, guaranteed or otherwise created such indebtedness or obligation, shall not be deemed a default or event of default under Section 7.1.2(b) if 4 hereof for so long as (a) the Credit Supporter Guarantor shall be disputing its obligation to make such payment or perform such obligation and (b) either (i) no final judgment relating to such dispute shall not have been issued resulted in a judgment against the Credit Supporter which is Guarantor that shall have remained undischarged or unbonded and have remained in full force and effect and is not subject to further review, including a judgment that has become final by reason of for more than the expiration of the time within which a party may seek further applicable appeal period or review, and (ii) in the event of such a judgment that is subject to further review or appeal has been issuedjudgment, the Credit Supporter Guarantor shall in good faith be prosecuting an appeal or other proceeding for review and which a stay of execution shall have been obtained pending such appeal or review. SECTION 6.