Common use of Excluded Swap Obligations Clause in Contracts

Excluded Swap Obligations. Notwithstanding any provision of this Agreement or any other Loan Document, no Guarantee by any Guarantor under any Loan Document shall include a Guarantee of any Obligation that, as to such Guarantor, is an Excluded Swap Obligation and no Collateral provided by any Guarantor shall secure any Obligation that, as to such Guarantor, is an Excluded Swap Obligation. In the event that any payment is made by, or any collection is realized from, any Guarantor as to which any Obligations are Excluded Swap Obligations, or from any Collateral provided by such Guarantor, the proceeds thereof shall be applied to pay the Obligations of such Guarantor as otherwise provided herein without giving effect to such Excluded Swap Obligations and each reference in this Agreement or any other Loan Document to the ratable application of such amounts as among the Obligations or any specified portion of the Obligations that would otherwise include such Excluded Swap Obligations shall be deemed so to provide.

Excluded Swap Obligations. Notwithstanding any provision of this Agreement or any other Loan Document, no Guarantee by Obligation of any Guarantor Subsidiary under any Loan Document Guarantee Agreement shall include a Guarantee Obligation of any Obligation that, as to such GuarantorGuarantor Subsidiary, is an Excluded Swap Obligation Obligation, and no Collateral provided by any Guarantor Subsidiary shall secure any Obligation that, as to such GuarantorGuarantor Subsidiary, is an Excluded Swap Obligation. In the event that any payment is made pursuant to any Guarantee Obligation under any Guarantee Agreement by, or any collection amount is realized fromfrom Collateral of, any Non-Guarantor Subsidiary as to which any Obligations are Excluded Swap Obligations, such payment or from any Collateral provided by such Guarantor, the proceeds thereof amount shall be applied to pay the Obligations of such Guarantor Subsidiary as otherwise provided herein and in the other Loan Documents without giving effect to such Excluded Swap Obligations Obligations, and each reference in this Agreement or any other Loan Document to the ratable application of such amounts as among the Obligations or any specified portion of the Obligations that would otherwise include such Excluded Swap Obligations shall be deemed to so to provide.