Common use of Secured Guarantee Clause in Contracts

Secured Guarantee. 2 The Lien Grantor unconditionally and irrevocably guarantees the full and punctual payment of each Secured Obligation as and when the same shall become due and payable (whether at stated maturity, upon acceleration or otherwise). The Lien Grantor acknowledges that, by signing this Security Agreement Supplement and delivering it to the Collateral Agent, the Lien Grantor becomes a “Subsidiary Guarantor” and “Lien Grantor” for all purposes of the Security Agreement and that its obligations under the foregoing Secured Guarantee are subject to all the provisions of the Security Agreement (including those set forth in Section 2 thereof) applicable to the obligations of a Subsidiary Guarantor thereunder. 1 If the Lien Grantor is the Borrower, delete this recital and Section 1 hereof. 2 Delete this Section if the Lien Grantor is the Borrower or a Subsidiary Guarantor that is already a party to the Security Agreement.

Secured Guarantee. 2 The Lien Grantor unconditionally and irrevocably guarantees the full and punctual payment of each Secured Obligation as and when the same shall become due and payable (whether at stated maturity, upon acceleration or otherwise). The Lien Grantor acknowledges that, by signing this Security Agreement Supplement and delivering it to the Collateral Agent, the Lien Grantor becomes a “Subsidiary Guarantor” and “Lien Grantor” for all purposes of the Security Agreement and that its obligations under the foregoing Secured Guarantee are subject to all the provisions of the Security Agreement (including those set forth in Section 2 thereof) applicable to the obligations of a Subsidiary Guarantor thereunder. . 1 If the Lien Grantor is the a Borrower, delete this recital and Section 1 paragraph (a) hereof. 2 Delete this Section paragraph if the Lien Grantor is the a Borrower or a Subsidiary Guarantor that is already a party to the Security Agreement.