Common use of Termination of the Guarantees Clause in Contracts

Termination of the Guarantees. Except as provided in Section 6.08 of the Indenture, the Guarantee with respect to a particular Obligation, shall terminate only when, one or more of the following events shall occur: (a) Such Obligation shall have been Retired or Paid; (b) The Obligees of all the Obligations then Outstanding shall have elected to terminate the Guarantees, and the Secretary has been so notified by the Indenture Trustee or all Obligees in writing; provided that, such termination shall not prejudice any rights accruing hereunder prior to such termination; (c) Such Guarantee shall have been paid in full in cash by the Secretary; or (d) The Indenture Trustee and each Obligee shall have failed to demand payment of such Guarantee as provided in the Indenture, Guarantee, or the Act.

Termination of the Guarantees. Except as provided in Section 6.08 of the Indenture, the Guarantee with respect to a particular Obligation, shall terminate only when, one or more of the following events shall occur: (a) Such Obligation shall have been Retired or Paid; (b) The Obligees of all the Obligations then Outstanding shall have elected to terminate the Guarantees, and the Secretary has been so notified by the Indenture Trustee or all Obligees in writing; provided thatPROVIDED THAT, such termination shall not prejudice any rights accruing hereunder prior to such termination; (c) Such Guarantee shall have been paid in full in cash by the Secretary; or (d) The Indenture Trustee and each Obligee shall have failed to demand payment of such Guarantee as provided in the Indenture, Guarantee, or the Act.

Termination of the Guarantees. Except as provided in Section 6.08 of the Indenture, the Guarantee with respect to a particular Obligation, shall terminate only when, one or more of the following events shall occur: (a) Such Obligation shall have been Retired or Paid; (b) The Obligees of all the Obligations then Outstanding shall have elected to terminate the Guarantees, and the Secretary Administrator has been so notified by the Indenture Trustee or all Obligees in writing; provided that, such termination shall not prejudice any rights accruing hereunder prior to such termination; (c) Such Guarantee shall have been paid in full in cash by the SecretaryAdministrator; or (d) The Indenture Trustee and each Obligee shall have failed to demand payment of such Guarantee as provided in the Indenture, Guarantee, or the ActChapter 537.