Payments under Guarantee Sample Clauses

Payments under Guarantee discharge obligations of Guarantor under this Agreement (a) first, to reduce and discharge any outstanding amounts due and payable by the Guarantor to the Issuer under this Agreement other than interest and principal; (b) second, to reduce and discharge interest (including accrued interest) due and unpaid on the outstanding principal balance of the Advances; and (c) third, to reduce and discharge the outstanding principal balance of the Advances.

Payments under Guarantee discharge obligations of Guarantor under this Agreement To the extent that the Guarantor makes, or there is made on its behalf, a payment under the Covered Bond Guarantee, the Issuer will on such payment being made become indebted to the Guarantor for an amount equal to such payment. Any amounts owing by the Issuer to the Guarantor in respect of amounts paid by the Guarantor under the Covered Bond Guarantee shall be set-off automatically (and without any action being required by the Guarantor, the Issuer or the Bond Trustee) against any amounts repayable by the Guarantor under the terms of this Agreement. The set-off amount shall be the Canadian Dollar Equivalent of the relevant payment made by the Guarantor under the Covered Bond Guarantee, which amount shall be applied to reduce amounts repayable under the Intercompany Loan in the following order of priority: (a) first, to reduce and discharge any outstanding amounts due and payable by the Guarantor to the Issuer under this Agreement other than interest and principal; (b) second, to reduce and discharge interest (including accrued interest) due and unpaid on the outstanding principal balance of the Advances; and (c) third, to reduce and discharge the outstanding principal balance of the Advances.

Payments under Guarantee. In the event of the failure of the Noteholders punctually to receive any payment required to be made to it pursuant to the terms of the Notes, whether by reason of the failure of the Co-Issuers punctually to make any payment of interest on the Notes, or any other event or condition resulting in the failure of the Noteholders to receive funds in U.S. Dollars in the full amount of such payment in a timely manner, the Parent Guarantor hereby agrees to cause any such payment to be made punctually when and as the same shall become due and payable, whether by demand, by declaration of acceleration, or otherwise, as if such payment were made by the Co-Issuers in the manner required by the Notes or the Note Purchase Agreement. If the Noteholders shall have the right to declare the Notes due and payable, and acceleration of the payment of the Notes is stayed, enjoined or otherwise prevented, the Parent Guarantor, upon demand therefor by the Noteholders, shall pay the Make-Whole Amount, if any, and any other amount due and payable under the Notes to the Noteholders as if acceleration had occurred in accordance with the terms thereof. In the event of the failure of the Co-Issuers to make payment to a Noteholder of any other amount due and payable to such Noteholder pursuant to the terms of the Notes and/or the Note Purchase Agreement, the Parent Guarantor shall, promptly upon receipt of written demand therefor from such Noteholders, accompanied by a statement of the nature and amount of such required payment, promptly pay such amount, in U.S. Dollars, directly to such Noteholder.

Payments under Guarantee. 6 ss. 1.5 No Subrogation.....................................................6 ss. 1.6 Preference.........................................................7 ss. 1.7 Marshalling........................................................7 ss. 1.8 Benefit to Noteholders.............................................7 SECTION 2. REPRESENTATIONS, WARRANTIES AND COVENANTS..........................8 ss. 2.1 Representations, Warranties and Covenants..........................8