Examples of Enron Parties in a sentence
Guarantor may terminate this Guaranty by providing written notice of such termination to the Enron Parties and upon the effectiveness of such termination, Guarantor shall have no further liability hereunder, except as provided in the last sentence of this paragraph.
This Guaranty shall be binding upon Guarantor, its successors and assigns and inure to the benefit of and be enforceable by the Enron Parties and their respective successors and assigns.
Guarantor has benefited and in the future will directly or indirectly benefit from the Transactions to be entered into between the Enron Parties and Counterparty.
No term or provision of this Guaranty shall be amended, modified, altered, waived or supplemented except in a writing signed by Guarantor and the Enron Parties.
Except as required in Section 2 above, Guarantor hereby waives (a) notice of acceptance of this Guaranty; (b) presentment and demand concerning the liabilities of Guarantor; and (c) any right to require that any action or proceeding be brought against Counterparty or any other person, or to require that the Enron Parties seek enforcement of any performance against Counterparty or any other person, prior to any action against Guarantor under the terms hereof.
If Counterparty fails or refuses to pay any Obligations, and any of the Enron Parties has elected to exercise its rights under this Guaranty, such Enron Party shall make a demand upon Guarantor (hereinafter referred to as a “Payment Demand”).
Except as to applicable statutes of limitation, no delay of the Enron Parties in the exercise of, or failure to exercise, any rights hereunder shall operate as a waiver of such rights, a waiver of any other rights or a release of Guarantor from any obligations hereunder.
Any Payment Demand, notice, request, instruction, correspondence or other document to be given hereunder by any party to another (herein collectively called “Notice”) shall be in writing and delivered personally or mailed by certified mail, postage prepaid and return receipt requested, or by telegram or telecopier, as follows: To the Enron Parties: Enron North America Corp.
Subject to the provisions hereof, (a) Guarantor hereby irrevocably and unconditionally guarantees the timely payment when due of the obligations of Counterparty (the “Obligations”) to the Enron Parties under the Contracts, and (b) to the extent that Counterparty shall fail to pay any Obligations to any Enron Party, Guarantor shall promptly pay to such Enron Party the amount due.
No such termination shall be effective until five (5) business days after receipt by the Enron Parties of such termination notice.