GENERAL PROVISIONS RELATING TO THE GUARANTY. Each and every Event of Default under the Note Purchase Agreements shall give rise to a separate claim and cause of action hereunder, and separate claims or suits may be made and brought, as the case may be, hereunder as each such default occurs. The obligations hereunder are independent of the obligations of the Operating Partnership to pay the principal of and premium, if any, and interest on the Notes, and a separate action or actions may be brought and prosecuted against the Trust whether such action is brought and prosecuted against the Operating Partnership or any other guarantor, or whether the Operating Partnership is joined in any such action or actions. The obligations of the Trust hereunder shall be reinstated and revived, and the rights of the Noteholders shall continue, with respect to any amount at any time paid on account of the obligations guaranteed hereby, which shall thereafter be required t o be restored or returned by the Noteholders upon the b a nkruptcy, insolvency or reorganization of the Operating Partnership, or otherwise, all as though such amount had not been paid.
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