Personal Guarantee Settlements Clause Samples

Personal Guarantee Settlements. This section is subject to the provisions set out in Clause 15.8 of this Agreement. (1) Subject to the Lender complying with Clause 15.8 (Personal guarantees) of this Agreement but notwithstanding any other provision of this Scheme Facility Type Schedule, if: (a) the Lender has the benefit of one or more personal guarantees from a single Personal Guarantor which support two or more separate Borrowing Facilities; and (b) such personal guarantee or (if there is more than one such personal guarantee) at least one of such personal guarantees is specified in a Scheme Facility Letter as supporting a Scheme Facility (each such personal guarantee, a “Linked Settlement Guarantee”), then (i) all Net Proceeds received, recovered or realised by the Lender under such Linked Settlement Guarantees will be treated as proceeds of Shared Collateral in respect of such Scheme Facility and (ii) any Borrowing Facilities (other than such Scheme Facility) guaranteed under a Linked Settlement Guarantee shall comprise a Linked Facility in respect of such Scheme Facility. (2) If the proceeds of any Linked Settlement Guarantee are applied under paragraph 6(B)(2), the pro rata split referred to in sub-paragraphs 6(B)(2)(b)(i) and 6(B)(2)(b)(ii) will be determined by the Lender based on: (a) if applied prior to the Claim Date for the relevant Scheme Facility: (i) in relation to sub-paragraph 6(B)(2)(b)(i)(x), the aggregate amount of principal for which the Personal Guarantor is liable under such Linked Settlement Guarantee(s) in respect of the relevant Scheme Facility; and (ii) in relation to sub-paragraph 6(B)(2)(b)(i)(y), the aggregate amount of principal for which the Personal Guarantor is liable under such Linked Settlement Guarantee(s) in respect of all Linked Facilities in respect of such Scheme Facility that are Subsequent Facilities; or (b) if applied on or after the Claim Date for the relevant Scheme Facility: (i) in relation to sub-paragraph 6(B)(2)(b)(ii)(x), the aggregate amount of principal for which the Personal Guarantor is liable under such Linked Settlement Guarantee(s) in respect of such Scheme Facility, multiplied by the Applicable Guaranteed Percentage in respect of such Scheme Facility; and (ii) in relation to sub-paragraph 6(B)(2)(b)(ii)(y), the aggregate of (1) the aggregate amount of principal for which the Personal Guarantor is liable under such Linked Settlement Guarantee(s) in respect of the relevant Scheme Facility, multiplied by 100% minus the Applicable Gu...