Common use of Guarantor as Principal Debtor Clause in Contracts

Guarantor as Principal Debtor. Without affecting the Issuer's obligations, the Guarantor will be liable under this Guarantee as if it were the sole principal debtor and not merely a surety. Accordingly, it will not be discharged, nor will its liability be affected, by anything which would not discharge it or affect its liability if it were the sole principal debtor (including (a) any time, indulgence, waiver or consent at any time given to the Issuer or any other person, (b) any amendment to any Security, any Coupon, any Receipt or the Deed of Covenant or to any security or other guarantee or indemnity, (c) the making or absence of any demand on the Issuer or any other person for payment, (d) the enforcement or absence of enforcement of any Security, any Coupon, any Receipt, the Deed of Covenant or of any security or other guarantee or indemnity, (e) the release of any such security, guarantee or indemnity, (f) the dissolution, amalgamation, reconstruction or reorganisation of the Issuer or any other person or (g) the illegality, invalidity or unenforceability of or any defect in any provision of any Security, any Coupon, any Receipt or the Deed of Covenant or any of the Issuer's obligations under any of them). The Guarantor hereby agrees that, in the event of a default in payment of any amount guaranteed hereby in respect of any Security (or in respect of any Underlying Security), legal proceedings may be instituted by a Holder of such Security (or Underlying Security), subject to the terms and conditions set forth in this Guarantee, directly against the Guarantor to enforce this Guarantee without first proceeding against the Issuer.

Guarantor as Principal Debtor. Without affecting the Issuer's obligations, the obligations of the Guarantor hereunder are unconditional and absolute and the Guarantor will be liable under this Guarantee as if it were the sole principal debtor and not merely a surety. Accordingly, without limiting the generality of the foregoing, it will not be released or discharged, nor will its liability be affected, by anything which would not release or discharge it or affect its liability if it were the sole principal debtor (including (a) any time, indulgence, waiver or consent at any time given to the Issuer or any other personperson (by operation of law or otherwise), (b) any amendment to any Security, any Coupon, any Receipt Security or the Deed of Covenant or to any security or other guarantee or indemnity, (c) the making or absence of any demand on the Issuer or any other person for payment, (d) the enforcement or absence of enforcement of any Security, any Coupon, any Receipt, the Deed of Covenant or of any security or other guarantee or indemnity, (e) the release of any such security, guarantee or indemnity, (f) the dissolution, amalgamation, reconstruction or reorganisation of the Issuer or any other person or person, (g) the illegality, invalidity or unenforceability of or any defect in any provision of any Security, any Coupon, any Receipt Security or the Deed of Covenant or any of the Issuer's obligations under any of themthem or (h) any other act or omission to act or delay of any kind by the Issuer or any other person or any other circumstance whatsoever which might, but for the provisions of this clause, constitute a legal or equitable discharge of or defence to the Guarantor's obligations hereunder). The Guarantor hereby agrees that, in the event of a default in payment of any amount guaranteed hereby in respect of any Security (or in respect of any Underlying Security), legal proceedings may be instituted by a Holder of such Security (or Underlying Security), subject to the terms and conditions set forth in this Guarantee, directly against the Guarantor to enforce this Guarantee without first proceeding against the Issuer.

Guarantor as Principal Debtor. Without As between the Guarantor and the Trustee, the ECN Holders and the Couponholders but without affecting the relevant Issuer's ’s obligations, and subject to Condition 4 of the Dated ECNs or the Undated ECNs, as applicable, the Guarantor will (or, each Guarantor jointly and severally, if both Guarantors are so specified in the relevant Final Terms,) shall be liable under this Guarantee Clause as if it were the sole principal debtor and not merely a surety. Accordingly, it will shall not be discharged, nor will shall its liability be affected, by anything which that would not discharge it or affect its liability if it were the sole principal debtor (including (a1) any time, indulgence, waiver or consent at any time given to the relevant Issuer or any other person, (b2) any amendment to any Security, any Coupon, any Receipt other provisions of this Trust Deed or to the Deed of Covenant Conditions or to any security or other guarantee or indemnity, (c3) the making or absence of any demand on the relevant Issuer or any other person for payment, (d4) the enforcement or absence of enforcement of any Security, any Coupon, any Receiptthis Trust Deed, the Deed of Covenant ECNs or the Coupons or of any security or other guarantee or indemnity, (e5) the taking, existence or release of any such security, guarantee or indemnity, (f6) the dissolution, amalgamation, reconstruction or reorganisation of the relevant Issuer or any other person or (g7) the illegality, invalidity or unenforceability of or any defect in any provision of any Securitythis Trust Deed, any Coupon, any Receipt the ECNs or the Deed of Covenant Coupons or any of the relevant Issuer's ’s obligations under any of them). The Guarantor hereby agrees that, in the event of a default in payment of any amount guaranteed hereby in respect of any Security (or in respect of any Underlying Security), legal proceedings may be instituted by a Holder of such Security (or Underlying Security), subject to the terms and conditions set forth in this Guarantee, directly against the Guarantor to enforce this Guarantee without first proceeding against the Issuer.