Nature of Guaranteed Obligations. (a) The Guarantor hereby agrees that this Guaranty is a guaranty of payment and performance and not of collection only.
Nature of Guaranteed Obligations. (a) Stena hereby agrees that its obligations under its guarantee of the Guaranteed Obligations constitute a guaranty of payment and not of collection only.
Nature of Guaranteed Obligations. This is a guaranty of payment and performance only, and, except for the obligations listed in Section 3.3, not of collection, and the Guaranteed Obligations hereunder shall be absolute, independent and unconditional under any and all circumstances.
Nature of Guaranteed Obligations. (a)The Guarantor hereby agrees that this Guaranty is a guaranty of payment and performance and not of collection only. Any and all payments by the Guarantor under the Guaranteed Obligations shall be made free and clear of, and without deduction or withholding for or on account of, any and all taxes, monetary transfer fees or other amounts except to the extent such deduction or withholding of any tax is required by applicable law. If the Guarantor shall be required by applicable law to deduct or withhold any tax or other amount from or in respect of any sum payable hereunder to or for the benefit of an Owner or DHT, to the extent the amount to be received from the Guarantor after such withholding is less than the amount that would have been received from the applicable Owner or DHT, the Guarantor shall pay to the Charterer such additional amount as shall be necessary to enable the Charterer to receive, after such withholding (including any withholding with respect to such additional amount), the amount it would have received if such withholding had not been required.
Nature of Guaranteed Obligations. Globalstar shall not be obligated to file any claim relating to any Guaranteed Obligation in the event that Globalstar becomes subject to a bankruptcy, reorganization, or similar proceeding, and the failure of Globalstar to so file shall not affect Thermo Funding’s Guaranteed Obligations hereunder. This Guaranty is an unconditional guarantee of payment and of performance and not of collection.
Nature of Guaranteed Obligations. (a) OSG hereby agrees that the guaranty specified in Section 2 is a guaranty of payment and performance and not of collection only. Any and all payments by OSG under the guaranteed obligations shall be made free and clear of, and without deduction or withholding for or on account of, any and all taxes, monetary transfer fees or other amounts except to the extent such deduction or withholding of any tax is required by applicable law. If OSG shall be required by applicable law to deduct or withhold any tax or other amount from or in respect of any sum payable hereunder to or for the benefit RUT Corp or RT Corp, to the extent the amount to be received from OSG after such withholding is less than the amount that would have been received from RUT Corp or RT Corp, as the case may be, OSG shall pay to the RUT Corp or RT Corp, as the case may be, such additional amount as shall be necessary to enable such party to receive, after such withholding (including any withholding with respect to such additional amount), the amount it would have received if such withholding had not been required.
