Common use of Payments under Guarantee Clause in Contracts

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 (a) 7.3.1 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) 7.3.2 second, to reduce and discharge interest (including accrued interest) due and unpaid on the outstanding principal balance of the Advances; and (c) 7.3.3 third, to reduce and discharge the outstanding principal balance of the Advances.