Common use of Guarantees; Letters of Credit Clause in Contracts

Guarantees; Letters of Credit. Neither the Borrower nor any of its Subsidiaries, shall become or remain liable with respect to any Guarantee, including reimbursement obligations, whether contingent or matured, under letters of credit or other financial guarantees by third parties, except the following: 6.7.1. Letters of Credit and Guarantees of the Credit Obligations. 6.7.2. Guarantees by the Borrower of Indebtedness incurred by its Subsidiaries and permitted by Section 6.6. 6.7.3. Guarantees by the Borrower of the obligations of its Subsidiaries under employment agreements between such Subsidiary and its employees.

Guarantees; Letters of Credit. Neither the Borrower nor any of its Subsidiaries, Subsidiaries shall become or remain liable with respect to any Guarantee, including reimbursement obligations, whether contingent or matured, under letters of credit or other financial guarantees by third parties, except the following: 6.7.1. Letters of Credit and Guarantees of the Credit Obligations. 6.7.2. Guarantees by the Borrower of Indebtedness incurred by its Subsidiaries and permitted by Section 6.6. 6.7.3. Guarantees by the Borrower of the obligations of its Subsidiaries under employment agreements between such Subsidiary and its employees.

Guarantees; Letters of Credit. Neither the Borrower nor any of its ----------------------------- Subsidiaries, shall become or remain liable with respect to any Guarantee, including reimbursement obligations, whether contingent or matured, under letters of credit or other financial guarantees by third parties, except the following: 6.7.1. Letters of Credit and Guarantees of the Credit Obligations. 6.7.2. Guarantees by the Borrower of Indebtedness incurred by its Subsidiaries and permitted by Section 6.6. 6.7.3. Guarantees by the Borrower of the obligations of its Subsidiaries under employment agreements between such Subsidiary and its employees.