Common use of No Double Recovery Under Article V and Sponsors' Guaranty Clause in Contracts

No Double Recovery Under Article V and Sponsors' Guaranty. In the event that the Sponsors default in the payment and performance of their obligations under this Article V and, following any such default, the Agent institutes litigation or other adversary proceedings designed to compel the Sponsors to perform such obligations or to pay damages for such failure, the right of recovery against the Sponsors under this Article V is limited mutatis mutandis to the amount set forth in Section 2.1 of the Sponsors’ Guaranty and any recovery by the Agent from the Sponsors hereunder shall, prot anto, reduce the amount available to be recovered from the Sponsors under the Sponsors’ Guaranty. For the avoidance of doubt, the obligations of the Sponsors under this Section 5.1 constitute a primary guarantee obligation (Garantievertrag) and not a surety guarantee (Bürgschaft).

No Double Recovery Under Article V and Sponsors' Guaranty. In the event that the Sponsors default in the payment and performance of their obligations under this Article V and, following any such default, the Agent institutes litigation or other adversary proceedings designed to compel the Sponsors to perform such obligations or to pay damages for such failure, the right of recovery against the Sponsors under this Article V is limited mutatis mutandis to the amount set forth in Section 2.1 of the Sponsors’ ' Guaranty and any recovery by the Agent from the Sponsors hereunder shall, prot antopro tanto, reduce the amount available to be recovered from the Sponsors under the Sponsors’ ' Guaranty. For the avoidance of doubt, the obligations of the Sponsors under this Section 5.1 constitute a primary guarantee obligation (Garantievertrag) and not a surety guarantee (BürgschaftBurgschaft).

No Double Recovery Under Article V and Sponsors' Guaranty. In the event that the Sponsors default in the payment and performance of their obligations under this Article V and, following any such default, the Agent --------- institutes litigation or other adversary proceedings designed to compel the Sponsors to perform such obligations or to pay damages for such failure, the right of recovery against the Sponsors under this Article V is limited mutatis --------- ------- mutandis to the amount set forth in Section 2.1 of the Sponsors’ ' Guaranty and -------- ----------- any recovery by the Agent from the Sponsors hereunder shall, prot antopro tanto, reduce --- ----- the amount available to be recovered from the Sponsors under the Sponsors’ ' Guaranty. For the avoidance of doubt, the obligations of the Sponsors under this Section ------- 5.1 constitute a primary guarantee obligation (Garantievertrag) and not a surety --- guarantee (BürgschaftBurgschaft).

No Double Recovery Under Article V and Sponsors' Guaranty. In the event that the Sponsors default in the payment and performance of their obligations under this Article V and, following any such default, the Agent --------- institutes litigation or other adversary proceedings designed to compel the Sponsors to perform such obligations or to pay damages for such failure, the right of recovery against the Sponsors under this Article V is limited mutatis --------- ------- mutandis to the amount set forth in Section 2.1 of the Sponsors’ ' Guaranty and ----------- any recovery by the Agent from the Sponsors hereunder shall, prot antopro tanto, reduce --------- the amount available to be recovered from the Sponsors under the Sponsors’ ' Guaranty. For the avoidance of doubt, the obligations of the Sponsors under this Section 5.1 constitute a primary guarantee obligation (Garantievertrag) and not a surety guarantee (BürgschaftBurgschaft).