Common use of Waivers and Other Agreements Clause in Contracts

Waivers and Other Agreements. The Company hereby unconditionally (a) waives any requirement that the Banks or the Agent, upon the occurrence of an Event of Default first make demand upon, or seek to enforce remedies against Masco Europe before demanding payment under or seeking to enforce the obligations of the Company hereunder, (b) covenants that the obligations of the Company hereunder will not be discharged except by complete performance of all obligations of Masco Europe contained in this Agreement and the Notes, (c) agrees that the obligations of the Company hereunder shall remain in full force and effect without regard to, and shall not be affected or impaired, without limitation, by any invalidity, irregularity or unenforceability in whole or in part of this Agreement or the Notes, or any limitation on the liability of Masco Europe thereunder, or any limitation on the method or terms of payment thereunder which may or hereafter be caused or imposed in any manner whatsoever (including, without limitation, usury laws), (d) waives diligence, presentment and protest with respect to, and any notice of default or dishonor in the payment of any amount at any time payable by Masco Europe under or in connection with this Agreement or the Notes, and further waives any requirement of notice of acceptance of, or other formality relating to, the obligations of the Company hereunder and (e) agrees that the Guaranteed Obligations shall include any amounts paid by Masco Europe to the Banks or the Agent which may be required to be returned to Masco Europe or to their representative or to a trustee, custodian or receiver for Masco Europe.

Waivers and Other Agreements. The Company Guarantor hereby unconditionally (a) waives any requirement that FNBC, in the Banks event of any default by the European Subsidiaries or the Agenteither of them, upon the occurrence of an Event of Default first make demand upon, or seek to enforce remedies against Masco Europe against, the European Subsidiaries or either of them before demanding payment under or seeking to enforce the obligations of the Company hereunderthis Guaranty, (b) covenants that the obligations of the Company hereunder this Guaranty will not be discharged except by complete payment and performance of all obligations Obligations of Masco Europe contained in this Agreement and the NotesEuropean Subsidiaries or either of them to FNBC, (c) agrees that the obligations of the Company hereunder this Guaranty shall remain in full force and effect without regard to, and shall not be affected or impairedimpaired by, without limitation, by any invalidity, irregularity or unenforceability in whole or in part of this Agreement or the Notesany other Operative Document, or any limitation on the liability of Masco Europe the European Subsidiaries or either of them thereunder, or any limitation on the method or terms of payment thereunder which may now or hereafter be caused or imposed in any manner whatsoever (including, without limitation, usury laws)whatsoever, (d) waives diligence, presentment and protest with respect to, and any notice of default or dishonor in the payment of any amount at any time payable by Masco Europe the European Subsidiaries or either of them under or in connection with this Agreement or the NotesObligations, and further waives any requirement of notice of acceptance of, or other formality relating to, the obligations of the Company hereunder this Guaranty, and (e) agrees that the Guaranteed Obligations amounts guaranteed hereunder shall include any amounts paid by Masco Europe to the Banks European Subsidiaries or either of them or the Agent Guarantor to FNBC which may be required to be returned to Masco Europe the payor or to their its representative or to a trustee, custodian or receiver for Masco Europethe European Subsidiaries or either of them or the Guarantor.