Common use of Payment Guaranty Clause in Contracts

Payment Guaranty. Each Guarantor unconditionally guarantees, as a primary obligor and not merely as surety, and promises to pay and perform as and when due, whether at stated maturity, upon acceleration, upon one or more dates set for prepayment or otherwise, any and all of the Guaranteed Obligations, provided that with respect to Flextronics Manufacturing France, such guarantee shall be limited as provided in Paragraph 7 hereof. If (i) Borrower fails to pay any Guaranteed Obligation or (ii) any Debtor Relief Proceeding relating to Borrower is commenced, each Guarantor further unconditionally guarantees and promises to and will forthwith pay and perform, upon the demand of Agent, whether at stated maturity, upon acceleration, upon one or more dates set for prepayment or otherwise, any and all of the Guaranteed Obligations (including any and all Disallowed Post-Commencement Interest and Expenses) in accordance with the terms of the Credit Documents, whether or not such obligations are then due and payable by any Guarantor and whether or not such obligations are modified, reduced or discharged in such Debtor Relief Proceeding. This Guaranty is a guaranty of payment and not of collection.

Payment Guaranty. Each Guarantor unconditionally guarantees, as a primary obligor and not merely as surety, and promises to pay and perform as and when due, whether at stated maturity, upon acceleration, upon one or more dates set for prepayment or otherwise, any and all of the Guaranteed Obligations, provided that with respect to Flextronics Manufacturing France, such guarantee shall be limited as provided in Paragraph 7 hereof. If (i) any Borrower fails to pay any Guaranteed Obligation or (ii) any Debtor Relief Proceeding relating to any Borrower is commenced, each Guarantor further unconditionally guarantees and promises to and will forthwith pay and perform, upon the demand of Agent, whether at stated maturity, upon acceleration, upon one or more dates set for prepayment or otherwise, any and all of the Guaranteed Obligations (including any and all Disallowed Post-Commencement Interest and Expenses) in accordance with the terms of the Credit Documents, whether or not such obligations are then due and payable by any Guarantor and whether or not such obligations are modified, reduced or discharged in such Debtor Relief Proceeding. This Guaranty is a guaranty of payment and not of collection.