Enforcement of the Guarantee. The Trustee, and by instructions of the Technical Committee pursuant to clause twentieth above, shall transfer the Shares in trust following the procedure set forth in this clause, in the event of Non-performance. The Trustee shall assure the immediate transfer of the Shares to the Settlor.
Enforcement of the Guarantee. (a) If the Borrower does not fulfil its obligations under Clause 11.1 of the Facility Agreement, the Lender is entitled at its own discretion
(i) to demand for payment of the Secured Indebtedness or any part thereof under the Guarantee, and/or
(ii) to enforce all or any part of the security granted under the Debenture (Clause 8.1 of the Debenture), unless otherwise stated under the Finance Documents.
(b) The Guarantee and/or the security granted under the Debenture are only enforceable in the amount of the Secured Indebtedness.
(c) The Guarantor may refuse to satisfy and pay the Lender for the same reasons of the Borrower as long as the Borrower is entitled to refuse the payment of the Secured Indebtedness under the Facility Agreement by reason of the Borrower disagreeing that an Event of Default has arisen or that the demand pursuant to Clause 11.2 of the Facility Agreement has been lawfully made If it is in dispute whether the Borrower may refuse the payment of the Secured Indebtedness, the Guarantor is entitled to refuse to satisfy the Lender as long as the Lender has not provided the Guarantor with a final and absolute judgment of a court pursuant to Clause 5.04 of this Guarantee.
(d) In case that the Guarantor pays under the Guarantee the Lender shall assign irrevocably all claims against the Borrower to the extent of the amount paid by the Guarantor under the Guarantee and the surety satisfies these claims.
Enforcement of the Guarantee. If any of the Guaranteed Obligations becomes due and payable and is not discharged when due after making written demand upon the Company, the lapse of all relevant cure periods and pursuing judicial action, if necessary or appropriate, the Guarantor shall upon written request of the Beneficiary, which shall state that the Company has not fulfilled its payment obligations under any of the Agreements and the relevant amount due, and to which all relevant demands, notices and other documents shall be attached, remit promptly any and every sum of money which the Company has become liable to pay to the Beneficiary under the Agreements as and when the same shall become due which in the aggregate shall in no event exceed the Maximum Amount − it being understood that this Guarantee shall not constitute a primary guarantee (since the Beneficiary shall be required first to make demand upon the Company). Any payments due shall be paid in either cash and/or shares in the Beneficiary (the fair market value of a share of the Beneficiary stock shall be equal to the closing sale price as of the day of transfer on the NASD OTCBB or other exchange or similar institution on which such stock is traded and, if it is not so traded, the fair market value as agreed upon by the parties or determined by an independent appraiser). The Beneficiary shall not be required to institute any judicial action if the Company shall have agreed that any such payment is due to the Beneficiary under this Guarantee and shall have admitted in writing that it does not have sufficient assets to pay any of the Guaranteed Obligations or such determination has been made by an independent accountant.
Enforcement of the Guarantee. The Landlord may claim under the guarantee set out in Paragraph 1 without first making demand of the Tenant or taking any action to claim under or enforce the Tenant's obligations under this Lease or any other right, security or other guarantee which it may hold from time to time in respect of the Tenant's obligations under this Underlease.
Enforcement of the Guarantee
