Common use of Termination of Guarantee Clause in Contracts

Termination of Guarantee. (i) The Guarantee shall automatically and unconditionally be terminated on the Guarantee Termination Date. As soon as reasonably practicable after such termination (and by no later than 15 Business Days (as defined in Condition 3(b)(i) (Interest Payment Dates)) after the Guarantee Termination Date), the Guarantor or the Issuer shall provide notice of such termination to the Noteholders and Couponholders in accordance with Condition 12 (Notices). For the purposes of this Condition 2(c)(i): Guarantee Termination Date means the first date on which the aggregate amount of indebtedness for borrowed money for which the Guarantor is an obligor (as a guarantor, co-issuer or borrower) does not exceed 10 per cent. of the aggregate principal amount of indebtedness for borrowed money of the Issuer and its Subsidiaries (as defined in Condition 8 (Events of Default)), on a consolidated basis, as of such time; and the amount of the Guarantor's indebtedness for borrowed money shall not include (A) any Notes subject to this Condition 2(c) (Termination of Guarantee), (B) any other debt the terms of which permit the termination of the Guarantor's guarantee of such debt under similar circumstances, as long as the Guarantor's obligations in respect of such other debt are terminated at substantially the same time as the Guarantee, and (C) any debt that is being refinanced at substantially the same time that the Guarantee of the Notes is being terminated, provided that any obligations of the Guarantor in respect of the debt that is incurred in the refinancing shall be included in the calculation of the Guarantor's indebtedness for borrowed money. (ii) For the avoidance of doubt, the Notes may not be declared due and payable pursuant to Condition 8(e) (Events of Default) as a result of the Guarantee being terminated pursuant to this Condition 2(c) (Termination of Guarantee).

Termination of Guarantee. (i) The Guarantee shall automatically and unconditionally be terminated on the Guarantee Termination Date. As soon as reasonably practicable after such termination (and by no later than 15 Business Days (as defined in Condition 3(b)(i) (Interest Payment Dates)) after the Guarantee Termination Date), the Guarantor or the Issuer shall provide notice of such termination to the Noteholders and Couponholders in accordance with Condition 12 (Notices). For the purposes of this Condition 2(c)(i): Guarantee Termination Date means the first date on which the aggregate amount of indebtedness for borrowed money for which the Guarantor is an obligor (as a guarantor, co-issuer or borrower) does not exceed 10 per cent. of the aggregate principal amount of indebtedness for borrowed money of the Issuer and its Subsidiaries (as defined in Condition 8 (Events of Default)), on a consolidated basis, as of such time; and the amount of the Guarantor's indebtedness for borrowed money shall not include include (A) any Notes subject to this Condition 2(c) (Termination of Guarantee), (B) any other debt the terms of which permit the termination of the Guarantor's guarantee of such debt under similar circumstances, as long as the Guarantor's obligations in respect of such other debt are terminated at substantially the same time as the Guarantee, and (C) any debt that is being refinanced at substantially the same time that the Guarantee of the Notes is being terminated, provided that any obligations of the Guarantor in respect of the debt that is incurred in the refinancing shall be included in the calculation of the Guarantor's indebtedness for borrowed money. (ii) For the avoidance of doubt, the Notes may not be declared due and payable pursuant to Condition 8(e) (Events of Default) as a result of the Guarantee being terminated pursuant to this Condition 2(c) (Termination of Guarantee).and