Common use of Obligation to Pay Not Impaired Clause in Contracts

Obligation to Pay Not Impaired. Nothing contained in this Article 3 or elsewhere in this Guarantee or in the Series 12 Preferred LP Units is intended to or shall impair, as between a Guarantor, its creditors (other than the holders of Senior Indebtedness), and the Holders of the Series 12 Preferred LP Units, the obligation of such Guarantor, which is absolute and unconditional, to pay to the Holders of the Series 12 Preferred LP Units the Series 12 Preferred LP Unit Obligations in accordance herewith, as and when the same shall become due and payable in accordance with this Guarantee, or affect the relative rights of the Holders of the Series 12 Preferred LP Units and creditors of such Guarantor other than the holders of the Senior Indebtedness; nor shall anything herein or therein prevent the Security Trustee or the Holder of any Series 12 Preferred LP Unit from exercising all remedies otherwise permitted by applicable law upon default under this Guarantee, subject to the rights, if any, under this Article 3 of the holders of Senior Indebtedness in respect of cash, property or securities of a Guarantor that are received upon the exercise of any such remedy.

Obligation to Pay Not Impaired. Nothing contained in this Article 3 or elsewhere in this Guarantee or in the Series 12 8 Preferred LP Units is intended to or shall impair, as between a Guarantor, its creditors (other than the holders of Senior Indebtedness), and the Holders of the Series 12 8 Preferred LP Units, the obligation of such Guarantor, which is absolute and unconditional, to pay to the Holders of the Series 12 8 Preferred LP Units the Series 12 8 Preferred LP Unit Obligations in accordance herewith, as and when the same shall become due and payable in accordance with this Guarantee, or affect the relative rights of the Holders of the Series 12 8 Preferred LP Units and creditors of such Guarantor other than the holders of the Senior Indebtedness; nor shall anything herein or therein prevent the Security Trustee or the Holder of any Series 12 8 Preferred LP Unit from exercising all remedies otherwise permitted by applicable law upon default under this Guarantee, subject to the rights, if any, under this Article 3 of the holders of Senior Indebtedness in respect of cash, property or securities of a Guarantor that are received upon the exercise of any such remedy.

Obligation to Pay Not Impaired. Nothing contained in this Article 3 or elsewhere in this Guarantee or in the Series 12 15 Preferred LP Units is intended to or shall impair, as between a Guarantor, its creditors (other than the holders of Senior Indebtedness), and the Holders of the Series 12 15 Preferred LP Units, the obligation of such Guarantor, which is absolute and unconditional, to pay to the Holders of the Series 12 15 Preferred LP Units the Series 12 15 Preferred LP Unit Obligations in accordance herewith, as and when the same shall become due and payable in accordance with this Guarantee, or affect the relative rights of the Holders of the Series 12 15 Preferred LP Units and creditors of such Guarantor other than the holders of the Senior Indebtedness; nor shall anything herein or therein prevent the Security Trustee or the Holder of any Series 12 15 Preferred LP Unit from exercising all remedies otherwise permitted by applicable law upon default under this Guarantee, subject to the rights, if any, under this Article 3 of the holders of Senior Indebtedness in respect of cash, property or securities of a Guarantor that are received upon the exercise of any such remedy.

Obligation to Pay Not Impaired. Nothing contained in this Article 3 or elsewhere in this Guarantee or in the Series 12 13 Preferred LP Units is intended to or shall impair, as between a Guarantor, its creditors (other than the holders of Senior Indebtedness), and the Holders of the Series 12 13 Preferred LP Units, the obligation of such Guarantor, which is absolute and unconditional, to pay to the Holders of the Series 12 13 Preferred LP Units the Series 12 13 Preferred LP Unit Obligations in accordance herewith, as and when the same shall become due and payable in accordance with this Guarantee, or affect the relative rights of the Holders of the Series 12 13 Preferred LP Units and creditors of such Guarantor other than the holders of the Senior Indebtedness; nor shall anything herein or therein prevent the Security Trustee or the Holder of any Series 12 13 Preferred LP Unit from exercising all remedies otherwise permitted by applicable law upon default under this Guarantee, subject to the rights, if any, under this Article 3 of the holders of Senior Indebtedness in respect of cash, property or securities of a Guarantor that are received upon the exercise of any such remedy.

Obligation to Pay Not Impaired. Nothing contained in this Article 3 or elsewhere in this Guarantee or in the Series 12 11 Preferred LP Units is intended to or shall impair, as between a Guarantor, its creditors (other than the holders of Senior Indebtedness), and the Holders of the Series 12 11 Preferred LP Units, the obligation of such Guarantor, which is absolute and unconditional, to pay to the Holders of the Series 12 11 Preferred LP Units the Series 12 11 Preferred LP Unit Obligations in accordance herewith, as and when the same shall become due and payable in accordance with this Guarantee, or affect the relative rights of the Holders of the Series 12 11 Preferred LP Units and creditors of such Guarantor other than the holders of the Senior Indebtedness; nor shall anything herein or therein prevent the Security Trustee or the Holder of any Series 12 11 Preferred LP Unit from exercising all remedies otherwise permitted by applicable law upon default under this Guarantee, subject to the rights, if any, under this Article 3 of the holders of Senior Indebtedness in respect of cash, property or securities of a Guarantor that are received upon the exercise of any such remedy.