Common use of Holdings’ Limited Recourse Guaranty Clause in Contracts

Holdings’ Limited Recourse Guaranty. Notwithstanding any other provision of this Agreement, the recourse of the Administrative Agent and the other Secured Parties to Holdings under the Loan Documents shall be limited to the Holdings’ Recourse Property. No assets of Holdings other than the Holdings’ Recourse Property shall be available to satisfy any liability of Holdings arising under the Loan Documents, whether under this Section 11, the Borrower Equity Pledge, Holdings’ undertakings set forth in Section 7.14 or otherwise. The rights of the Secured Parties to satisfy the Guaranteed Obligations shall be limited to the foreclosure of (and all other rights and remedies relating to the foreclosure of) the Lien created pursuant to the Borrower Equity Pledge and the Secured Parties shall have no right to proceed directly against Holdings for the satisfaction of any Guaranteed Obligation, for any deficiency remaining from the foreclosure of the Lien created by the Borrower Equity Pledge (or any portion of any of the foregoing).

Holdings’ Limited Recourse Guaranty. Notwithstanding any other provision of this Agreement, the recourse of the Administrative Agent and the other Secured Parties to Holdings under the Loan Documents shall be limited to the Holdings’ Recourse Property. No assets of Holdings other than the Holdings’ Recourse Property shall be available to satisfy any liability of Holdings arising under the Loan Documents, whether under this Section 11, the Borrower Equity Pledge, Holdings’ undertakings set forth in Section 7.14 or otherwise. The rights of the Secured Parties to satisfy the Guaranteed Obligations shall be limited to the foreclosure of (and all other rights and remedies relating to the foreclosure of) the Lien created pursuant to the Borrower Equity Pledge and the Secured Parties shall have no right to proceed directly against Holdings for the satisfaction of any Guaranteed Obligation, for any deficiency remaining from the foreclosure of the Lien created by the Borrower Equity Pledge (or any portion of any of the foregoing).. [Signature Pages Follow]