Common use of Guarantee Event of Default; Notice Clause in Contracts

Guarantee Event of Default; Notice. (a) The Trust Preferred Guarantee Trustee shall, within 90 days after the occurrence of a Guarantee Event of Default, transmit by mail, first class postage prepaid, to the Holders of the Trust Preferred Securities, notices of all Guarantee Events of Default actually known to a Responsible Officer of the Trust Preferred Guarantee Trustee charged with the administration of this Trust Preferred Securities Guarantee, unless such defaults have been cured before the giving of such notice, provided, that, except in the case of default in any Guarantee Payment, the Trust Preferred Guarantee Trustee shall be protected in withholding such notice if and so long as a Responsible Officer of the Trust Preferred Guarantee Trustee in good faith determines that the withholding of such notice is in the interests of the Holders of the Trust Preferred Securities.