Common use of Rights Not Separately Transferable Clause in Contracts

Rights Not Separately Transferable. This Class B Preferred Guarantee is a guarantee for the benefit of each Holder from time to time of Class B Preferred Securities. Upon transfer of any Class B Preferred Securities to a third party, the prior Holder thereof shall no longer have any rights hereunder with respect to such transferred Class B Preferred Securities. The rights under this Class B Preferred Guarantee with respect to a Class B Preferred Security are not separately transferable from such Class B Preferred Security. The Initial Holder hereby accepts the rights under this Class B Preferred Guarantee held by the Class B Preferred Guarantee Trustee for the Initial Holder’s benefit as initial purchaser of the Class B Preferred Securities (who in turn holds the Class B Preferred Securities and related rights under this Class B Preferred Guarantee for the benefit of the Holders of the Trust Preferred Securities) with the understanding that such rights shall be transferred by operation of law to any subsequent Holder acquiring a Class B Preferred Security from the Initial Holder or from a subsequent Holder of Class B Preferred Securities.