Common use of Guaranteed Money Clause in Contracts

Guaranteed Money. 32.1 The Guaranteed Money includes all money which the Borrower may owe to the Lender now or in the future on any account whatsoever whether as principal debtor or as surety and whether pursuant to the Agreement as amended from time to time between the Lender and the Borrower, including, without limitation: (a) money which the Borrower actually does owe or will owe the Lender. Examples of this include money which the Lender has loaned to the Borrower, or agreed to pay for the account of the Borrower, and interest, fees, charges and damages; (b) money which the Borrower contingently owes the Lender at that time. Money is contingently owed where the Borrower has an obligation to pay the Lender if something happens or becomes known. Examples of this include a guarantee or indemnity given by the Borrower, a promise by the Borrower to pay the legal costs the Lender might pay if the Borrower defaults, or a promise to pay the Lender if the Lender suffers a loss or has to make a payment to someone else; (c) money which the Borrower owes or will owe the Lender as a result of a transfer to the Lender of an obligation owed by the Borrower. This includes money contingently owed and money which may become owed later as described in Clause 32.1(b); and (d) money (including money of the type set out in the above paragraphs) which the Borrower would have owed the Lender but for some reason as described in Clause 33 (Indemnity). It includes in each case any money which the Borrower may owe together with others.