Common use of Elimination of Guarantees Clause in Contracts

Elimination of Guarantees. Except as otherwise specified in any Ancillary Agreement, Olin and Primex shall use their commercially reasonable efforts to have, on or prior to the Effective Time, or as soon as practicable thereafter, Olin and any of its Subsidiaries removed as guarantor of or obligor for any Primex Liability or Liabilities, including, without limitation, in respect of those guarantees set forth on Schedule 2.09. To the extent that Olin or any of its Subsidiaries cannot be removed as guarantor of or obligor for any such Primex Liability or Liabilities, Primex agrees that, notwithstanding any contrary provision contained in any Novation Agreement referred to in Schedule 2.09, until such Primex Liability or Liabilities shall have been discharged in full, Primex will take no action, and will not permit any of its Subsidiaries to take any action, which will have the effect of increasing the contingent liability or exposure of Olin or any of its Subsidiaries with respect to such Primex Liability or Liabilities without Olin's prior written consent; provided however, with respect to any guaranty arising in connection with any Novation Agreement referred to in Schedule 2.09, Primex may modify (but not extend) the U.S. Government contracts relating to such Novation Agreements without Olin's prior consent provided such modification is made in good faith and is commercially reasonable and does not unreasonably increase Olin's contingent liability or risk with respect thereto under such Novation Agreement taking into account the facts and circumstances at the time of the modification.

Elimination of Guarantees. Except as otherwise -------------------------- specified in any Ancillary Agreement, Olin Xxxx and Primex Arch shall use their commercially reasonable efforts to have, on or prior to the Effective TimeDistribution Date, or as soon as practicable thereafter, Olin Xxxx and any each of its Subsidiaries (other than Arch or its Subsidiaries) removed as guarantor of or obligor for any Primex Arch Liability or Liabilities, including, without limitation, including in respect of those guarantees set forth on Schedule 2.092.08. To the extent that Olin Xxxx or any of its Subsidiaries (other than Arch or its Subsidiaries) cannot be removed as guarantor of or obligor for any such Primex Arch Liability or Liabilities, Primex Arch agrees that, notwithstanding any contrary provision contained in any Novation Agreement referred to in Schedule 2.092.08, until such Primex Arch Liability or Liabilities shall have been discharged in full, Primex Arch will take no action, and will not permit any of its Subsidiaries to take any action, which will have the effect of increasing the contingent liability or exposure of Olin Xxxx or any of its Subsidiaries (other than Arch or its Subsidiaries) with respect to such Primex Arch Liability or Liabilities without Olin's prior written consent; provided provided, however, that with respect to any guaranty guarantee arising in connection with any Novation Agreement referred to in Schedule 2.092.08, Primex Arch may modify (but not extend) the U.S. Government contracts relating to such Novation Agreements without Olin's prior written consent provided such modification is made in good faith and is commercially reasonable and does not unreasonably increase Olin's contingent liability or risk with respect thereto under such Novation Agreement taking into account the facts and circumstances at the time of the modification.

Elimination of Guarantees. Except as otherwise specified in any Ancillary Agreement, Olin Xxxx and Primex Arch shall use their commercially reasonable efforts to have, on or prior to the Effective TimeDistribution Date, or as soon as practicable thereafter, Olin Xxxx and any each of its Subsidiaries (other than Arch or its Subsidiaries) removed as guarantor of or obligor for any Primex Arch Liability or Liabilities, including, without limitation, including in respect of those guarantees set forth on Schedule 2.092.08. To the extent that Olin Xxxx or any of its Subsidiaries (other than Arch or its Subsidiaries) cannot be removed as guarantor of or obligor for any such Primex Arch Liability or Liabilities, Primex Arch agrees that, notwithstanding any contrary provision contained in any Novation Agreement referred to in Schedule 2.092.08, until such Primex Arch Liability or Liabilities shall have been discharged in full, Primex Arch will take no action, and will not permit any of its Subsidiaries to take any action, which will have the effect of increasing the contingent liability or exposure of Olin Xxxx or any of its Subsidiaries (other than Arch or its Subsidiaries) with respect to such Primex Arch Liability or Liabilities without Olin's prior written consent; provided provided, however, that with respect to any guaranty guarantee arising in connection with any Novation Agreement referred to in Schedule 2.092.08, Primex Arch may modify (but not extend) the U.S. Government contracts relating to such Novation Agreements without Olin's prior written consent provided such modification is made in good faith and is commercially reasonable and does not unreasonably increase Olin's contingent liability or risk with respect thereto under such Novation Agreement taking into account the facts and circumstances at the time of the modification.