Guaranteed Party Acceleration. The Guaranteed Party may, on behalf of the Bondholders and subject to the terms of the Bond Documents, take an Acceleration Step if:
(a) a Non-Payment Event has occurred and is continuing and a Demand has been properly delivered to CGIF (within the Demand Period) in accordance with this Agreement in respect of the relevant Guaranteed Amount and is not paid by CGIF in accordance with the terms of this Agreement (a CGIF Non-Payment Event); or
(b) an Issuer Event of Default occurs (other than pursuant to Condition 13.1(a) of the Bond Conditions) and the requirements of Condition 13.4 of the Bond Conditions have been fulfilled, in each case, a Guaranteed Party Acceleration.
Guaranteed Party Acceleration. The Guaranteed Party may, on behalf of the Debentureholders and subject to the terms of the Debenture Documents, take an Acceleration Step if:
(a) a Non-Payment Event has occurred and is continuing and a Demand has been properly delivered to CGIF (within the Demand Period) in accordance with this Agreement in respect of the relevant Guaranteed Amount and is not paid by CGIF in accordance with the terms of this Agreement (a CGIF Non-Payment Event); or
(b) an Issuer Event of Default occurs (other than pursuant to Condition 13.1(a) of the Debenture Conditions) and the requirements of Condition 13.4 of the Debenture Conditions have been fulfilled, in each case, a Guaranteed Party Acceleration.
