Common use of Guarantor’s Undertaking Clause in Contracts

Guarantor’s Undertaking. The Guarantor hereby accedes to any obligation and liability of the Purchaser under or in connection with this Agreement, including the obligation to pay the Purchase Price, if and when due, as if it were the Guarantor’s own principal obligation or liability (Schuldbeitritt). For the avoidance of doubt, the Guarantor hereby waives, and the Seller hereby accepts such waiver, any rights which the Guarantor may have to require the Seller to proceed first against, or claim payment from, the Purchaser such that as between the Seller and the Guarantor the latter shall be liable as principal debtor as if it had entered into the undertaking to perform such obligations under or in connection with this Agreement jointly and severally with the Purchaser.

Guarantor’s Undertaking. The Guarantor hereby accedes as a joint obligor to any obligation and liability of the Purchaser Bidder under or in connection with this Agreement, including the obligation to pay the Purchase Price, if and when due, as if it were the Guarantor’s own principal obligation or liability (Schuldbeitritt). For the avoidance of doubt, the Guarantor hereby waives, and the Seller Company hereby accepts such waiver, any rights which the Guarantor may have to require the Seller Company to proceed first against, or claim payment from, the Purchaser Bidder such that as between the Seller Bidder and the Guarantor the latter shall be liable as principal debtor as if it had itself entered into the undertaking to perform such obligations or liabilities under or in connection with this Agreement jointly and severally (gesamtschuldnerisch) with the PurchaserBidder.