Common use of Parent Guarantees Clause in Contracts

Parent Guarantees. 20.1 Jupiter Parent hereby irrevocably guarantees, as principal and not as surety, (a) the due and punctual payment of all monetary obligations now or hereafter due and payable by Jupiter Sub-1 or Jupiter Sub-2 pursuant to this Agreement or the Loan Agreement, and (b) the full and complete performance of all covenants, agreements, duties and obligations applicable to the Jupiter Shareholders or Jupiter Sub-2 pursuant to this Agreement or the Loan Agreement, whether such covenants, agreements, duties or obligations are outstanding on the date hereof or arise or are incurred at any time or times hereafter, in each case without setoff or reduction for any purpose. The guarantee of Jupiter Parent shall automatically be released at the time and to the extent provided in clauses 11.4 or 15. 20.2 Lucky Parent hereby irrevocably guarantees, as principal and not as surety, (a) the due and punctual payment of all monetary obligations now or hereafter due and payable by Lucky Sub-1 or Lucky Sub-2 pursuant to this Agreement or the Royalty Agreement, and (b) the full and complete performance of all covenants, agreements, duties and obligations applicable to the Lucky Shareholders or Lucky Sub-2 pursuant to this Agreement or the Royalty Agreement, whether such covenants, agreements, duties or obligations are outstanding on the date hereof or arise or are incurred at any time or times hereafter, in each case without setoff or reduction for any purpose. The guarantee of Lucky Parent shall automatically be released at the time and to the extent provided in clauses 11.4 or 15.