Common use of Security Guarantees Clause in Contracts

Security Guarantees. (a) Each Security Guarantor hereby unconditionally and irrevocably guarantees to each Holder and to the Trustee and its successors and assigns (a) the full and punctual payment of principal of, premium, if any, and interest on the Securities when due, whether at maturity, by acceleration, by redemption or otherwise, and all other monetary obligations of the Company under this Indenture and the Securities and (b) the full and punctual performance within applicable grace periods of all other obligations of the Company under this Indenture and the Securities (all the foregoing being hereinafter collectively called the "Guarantee Obligations"). Each Security Guarantor further agrees that the Guarantee Obligations may be extended or renewed, in whole or in part, without notice or further assent from such Security Guarantor and that such Security Guarantor will remain bound under this Article Seventeen notwithstanding any extension or renewal of any Guarantee Obligation.

Security Guarantees. (a) Each Security Guarantor hereby unconditionally and irrevocably guarantees to each Holder and to the Trustee and its successors and assigns (a) the full and punctual payment of principal of, premium, if any, and interest on the Securities when due, whether at maturity, by acceleration, by redemption or otherwise, and all other monetary obligations of the Company under this Indenture and the Securities and (b) the full and punctual performance within applicable grace periods of all other obligations of the Company under this Indenture and the Securities to which this Article Seventeen is made applicable (all the foregoing being hereinafter collectively called the "Guarantee Obligations"). Each Security Guarantor further agrees that the Guarantee Obligations may be extended or renewed, in whole or in part, without notice or further assent from such Security Guarantor and that such Security Guarantor will remain bound under this Article Seventeen notwithstanding any extension or renewal of any Guarantee Obligation.