Common use of The Subsidiary Guaranty Clause in Contracts

The Subsidiary Guaranty. Subject in each case to the provisions of Section 9.08, each of the Subsidiary Guarantors hereby, jointly and severally, unconditionally guarantees as primary obligor and not merely as surety, the full and punctual payment as and when the same shall become due and payable (whether at stated maturity, upon acceleration or otherwise) of the principal and interest on each Revolving Credit Loan Note and Term Loan Note issued by the Borrower under this Agreement, the full and punctual payment of each Reimbursement Obligation in respect of the Revolving Letters of Credit under this Agreement and the full and punctual payment of all amounts payable by the Borrower under this Agreement in respect of the Revolving Credit Loan Facility and the Term Loans (the “Revolving Credit Loan/Term Loan Obligations”) (the guaranty referred to above is referred to as the “Subsidiary Guaranty”). Upon failure by the Borrower to pay punctually any such amount, the Subsidiary Guarantors shall forthwith on demand pay the amount not so paid at the place and in the manner specified in the Agreement. The Revolving Credit Loan/Term Loan Obligations of the Borrower guaranteed by the Subsidiary Guarantors are referred to as the “Guaranteed Obligations”. Without limiting the generality of the foregoing, each Subsidiary Guarantor’s liability hereunder shall extend to all amounts which constitute part of the obligations guaranteed by it hereunder and would be owed by the Borrower hereunder but for the fact that they are unenforceable or not allowable due to the existence of a bankruptcy, reorganization or similar proceeding involving the Borrower.

The Subsidiary Guaranty. Subject in each case to the provisions of Section 9.08, each of the Subsidiary Guarantors hereby, jointly and severally, unconditionally guarantees as primary obligor and not merely as surety, the full and punctual payment as and when the same shall become due and payable (whether at stated maturity, upon acceleration or otherwise) of the principal and interest on each Revolving Credit Loan Note and Term Loan Note issued by the Borrower under this Agreement, the full and punctual payment of each Reimbursement Obligation in respect of the Revolving Letters of Credit under this Agreement and the full and punctual payment of all amounts payable by the Borrower under this Agreement in respect of the Revolving Credit Loan Facility and the Term Loans (the “Revolving Credit Loan/Term Loan Obligations”) (the guaranty referred to above is referred to as the “Subsidiary Guaranty”). Upon failure by the Borrower to pay punctually any such amount, the Subsidiary Guarantors shall forthwith on demand pay the amount not so paid at the place and in the manner specified in the Agreement. The Revolving Credit Loan/Term Loan Obligations of the Borrower guaranteed by the Subsidiary Guarantors are referred to as the “Guaranteed Obligations”. Without limiting the generality of the foregoing, each Subsidiary Guarantor’s liability hereunder shall extend to all amounts which constitute part of the obligations guaranteed by it hereunder and would be owed by the Borrower hereunder but for the fact that they are unenforceable or not allowable due to the existence of a bankruptcy, reorganization or similar proceeding involving the Borrower. This is a guaranty of payment and not merely of collection.

The Subsidiary Guaranty. Subject in each case to the provisions of Section 9.08, (a) each of the Subsidiary Revolving Credit Loan/Tranche A Term Loan Guarantors hereby, jointly and severally, unconditionally guarantees as primary obligor and not merely as surety, the full and punctual payment as and when the same shall become due and payable (whether at stated maturity, upon acceleration or otherwise) of the principal and interest on each Revolving Credit Loan Note and Tranche A Term Loan Note issued by the Borrower under this Agreement, the full and punctual payment of each Reimbursement Obligation in respect of the Revolving Letters of Credit under this Agreement and the full and punctual payment of all amounts payable by the Borrower under this Agreement in respect of the Revolving Credit Loan Facility and the Tranche A Term Loans (the “"Revolving Credit Loan/Tranche A Term Loan Obligations”") and (b) the Tranche C Term Loan Guarantor hereby unconditionally guarantees as primary obligor and not merely as surety, the full and punctual payment as and when the same shall become due and payable (whether at stated maturity, upon acceleration or otherwise) of the principal and interest on each Tranche C Term Loan Note issued by the Borrower under this Agreement and the full and punctual payment of all amounts payable by the Borrower under this Agreement in respect of the Tranche C Term Loans (the "Tranche C Term Loan Obligations") (the guaranty guarantees referred to in clauses (a) and (b) above is are collectively referred to as the “"Subsidiary Guaranty”"). Upon failure by the Borrower to pay punctually any such amount, the Subsidiary Guarantors Revolving Credit Loan/Tranche A Term Loan Guarantors, in respect of the Revolving Credit Loan/Tranche A Term Loan Obligations, and the Tranche C Term Loan Guarantor, in respect of the Tranche C Term Loan Obligations, shall forthwith on demand pay the amount not so paid at the place and in the manner specified in the Agreement. The Revolving Credit Loan/Tranche A Term Loan Obligations of the Borrower guaranteed by the Subsidiary Revolving Credit Loan/Tranche A Term Loan Guarantors are referred to as the “"Revolving Credit Loan/Tranche A Term Loan Guaranteed Obligations”" and the Tranche C Term Loan Obligations of the Borrower guaranteed by the Tranche C Term Loan Guarantor are referred to as the "Tranche C Term Loan Guaranteed Obligations". The Revolving Credit Loan/Tranche A Term Loan Guaranteed Obligations and the Tranche C Term Loan Guaranteed Obligations are collectively referred to as the "Guaranteed Obligations". Without limiting the generality of the foregoing, each Subsidiary Guarantor’s 's liability hereunder shall extend to all amounts which constitute part of the obligations guaranteed by it hereunder and would be owed by the Borrower hereunder but for the fact that they are unenforceable or not allowable due to the existence of a bankruptcy, reorganization or similar proceeding involving the Borrower.