Common use of Continuing and Irrevocable Guaranty Clause in Contracts

Continuing and Irrevocable Guaranty. This is a continuing guaranty of the Obligations and may not be revoked and shall not otherwise terminate unless and until the Obligations have been indefeasibly paid and performed in full. If notwithstanding the foregoing the Guarantor shall have any right under Applicable Law to terminate this Guaranty prior to indefeasible payment in full of the Obligations, no such termination shall be effective until noon the next Business Day after the Beneficiary shall have received written notice thereof, signed by the Guarantor. Any such termination shall not affect this Guaranty in relation to (a) any Obligation that was incurred or arose prior to the effective time of such notice, (b) any Obligation incurred or arising after such effective time where such Obligation is incurred or arises either pursuant to commitments existing at such effective time or incurred for the purpose of protecting or enforcing rights against either Buyer, the Guarantor or other guarantor of or other Person directly or indirectly liable on the Obligations or any portion thereof (each of the Buyers, the Guarantor and any such other Person is referred to herein as an “Obligor”) or (c) any renewals, extensions, readvances, modifications or rearrangements of any of the foregoing.

Continuing and Irrevocable Guaranty. This is a continuing guaranty of the Obligations and may not be revoked and shall not otherwise terminate unless and until the Obligations have been indefeasibly paid and performed in full. If If, notwithstanding the foregoing foregoing, the Guarantor shall have any right under Applicable Law to terminate this Guaranty prior to indefeasible payment in full of the Obligations, no such termination shall be effective until noon the next Business Day after the Beneficiary Collateral Agent shall have received written notice thereof, signed by the Guarantor. Any such termination shall not affect this Guaranty in relation to (a) any Obligation that was incurred or arose prior to the effective time of such notice, (b) any Obligation incurred or arising after such effective time where such Obligation is incurred or arises either pursuant to commitments existing at such effective time or incurred for the purpose of protecting or enforcing rights against either Buyerthe Company, the Guarantor or any other guarantor of or other Person directly or indirectly liable on the Obligations or any portion thereof (each of the BuyersCompany, the Guarantor and any such other Person is referred to herein as an “"Obligor”") or any security ("Collateral") given for the Obligations or any other guaranties of the Obligations or any VESPER HOLDING S.A. GUARANTY 3 135 portion thereof or (c) any renewals, extensions, readvances, modifications or rearrangements of any of the foregoing.