Guarantor as Principal Obligor. If any or all of the Obligations are not duly paid or performed by the Borrower or any Subsidiary, as applicable, and are not recoverable under Section 2.1 or the Beneficiaries are not indemnified under Section 2.2, in each case, for any reason whatsoever, such Obligations shall, as a separate and distinct obligation, be recoverable by the Beneficiaries from the Guarantor as the primary obligor and principal debtor in respect thereof and shall be paid to the Beneficiaries forthwith after demand therefor as provided herein.
Guarantor as Principal Obligor. If any or all of the Obligations are not duly paid or performed by the Canadian Borrower and are not recoverable under Section 2.1 or the Beneficiaries are not indemnified under Section 2.2, in each case, for any reason whatsoever, such Obligations shall, as a separate and distinct obligation, be recoverable by the Beneficiaries from the Guarantor as the primary obligor and principal debtor in respect thereof and shall be paid to the Beneficiaries forthwith after demand therefore as provided herein.
Guarantor as Principal Obligor. If any or all of the Borrower Obligations are not duly paid or performed by the Borrower and are not recoverable under Section 10.01(a) or the 2534129_10 -52- Guaranteed Creditors are not indemnified under Section 10.01 (b), in each case, for any reason whatsoever, such Borrower Obligations shall, as a separate and distinct obligation, be recoverable by the Guaranteed Creditors from the Guarantor as the primary obligor and principal debtor in respect thereof and shall be paid to the Guaranteed Creditors forthwith after demand therefor as provided herein.
Guarantor as Principal Obligor. Without affecting CGMHI’s obligations, the Guarantor will be liable under this Deed of Guarantee as if it were the sole principal obligor and not merely a surety. Accordingly, it will not be discharged, nor will its liability be affected, by anything which would not discharge it or affect its liability if it were the sole principal obligor (including (a) any time, indulgence, waiver or consent at any time given to CGMHI or any other person, (b) any amendment to any Note or the CGMHI Deed of Covenant or to any security or other guarantee or indemnity, (c) the making or absence of any demand on CGMHI or any other person for payment, (d) the enforcement or absence of enforcement of any Note, the CGMHI Deed of Covenant or of any security or other guarantee or indemnity, (e) the release of any such security, guarantee or indemnity, (f) the dissolution, amalgamation, reconstruction or reorganisation of CGMHI or any other person, (g) the illegality, invalidity or unenforceability of or any defect in any provision of any Note or the CGMHI Deed of Covenant or any of CGMHI’s obligations under any of them or (h) any other act, event or omission which but for this Clause 3 might operate to discharge, impair or otherwise affect the obligations expressed to be assumed by the Guarantor herein or any of the rights, powers or remedies conferred upon the Holders or any of them by this Deed of Guarantee or by law).
