Common use of Guarantors as Principal Debtors Clause in Contracts

Guarantors as Principal Debtors. As between each Guarantor and the Trustee and the Noteholders but without affecting the Issuer’s obligations, each Guarantor will be liable under this Clause as if it were the sole or principal debtor. 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 or principal debtor (including (1) any time, waiver or consent at any time given to the Issuer or any other person, (2) any amendment to any other provisions of this Trust Deed or to the Conditions, (3) the making or absence of any demand on the Issuer or any other person for payment, (4) the enforcement or absence of enforcement of this Trust Deed or the Notes, (5) the taking, existence or release of any security, guarantee or indemnity, (6) the dissolution, amalgamation, reconstruction or reorganisation of the Issuer or any other person or (7) the illegality, invalidity or unenforceability of or any defect in any provision of this Trust Deed or the Notes or any of the Issuer’s obligations under any of them).