Common use of Construction Clause in Contracts

Construction. (a) Capitalised terms defined in the Facility Agreement have, unless expressly defined in this Guarantee, the same meaning in this Guarantee. (b) The provisions of Clause 1.2 (Construction) of the Facility Agreement apply to this Guarantee as though they were set out in full in this Guarantee, except that references to the Facility Agreement are to be construed as references to this Guarantee. 2. Guarantee and indemnity (a) guarantees to each Finance Party the punctual performance by the Borrower of all of the Borrower's payment obligations under the Facility Agreement (the Borrower's Obligations); (b) undertakes with the Finance Parties that whenever the Borrower does not pay any amount comprised in the Borrower's Obligations when due, the Guarantor will immediately on demand pay that amount as if it were the principal obligor; and (c) agrees with the Finance Parties that if, for any reason (including unenforceability or illegality of any of the Borrower's Obligations), any amount claimed hereunder is not recoverable on the basis of a guarantee, it will, as an independent and primary obligation, indemnify the Finance Parties on demand against any cost, loss or liability it incurs as a result of the Borrower not paying any amount which would, but for such reason, have been payable by it on the date when it would have been due. The amount payable by the Guarantor under this indemnity will not exceed the amount it would have had to pay hereunder if the amount claimed had been recoverable on the basis of a guarantee.

Construction. (a) Capitalised terms defined in the Facility Agreement have, unless expressly defined in this Guarantee, the same meaning in this Guarantee. (b) The provisions of Clause 1.2 (Construction) of the Facility Agreement apply to this Guarantee as though they were set out in full in this Guarantee, except that references to the Facility Agreement are to be construed as references to this Guarantee. 2. Guarantee and indemnity (a) guarantees to each Finance Party the punctual performance by the Borrower of all of the Borrower's Borrower‘s payment obligations under the Facility Agreement (the Borrower's Borrower‘s Obligations); (b) undertakes with the Finance Parties that whenever the Borrower does not pay any amount comprised in the Borrower's Borrower‘s Obligations when due, the Guarantor will immediately on demand pay that amount as if it were the principal obligor; and (c) agrees with the Finance Parties that if, for any reason (including unenforceability or illegality of any of the Borrower's Borrower‘s Obligations), any amount claimed hereunder is not recoverable on the basis of a guarantee, it will, as an independent and primary obligation, indemnify the Finance Parties on demand against any cost, loss or liability it incurs as a result of the Borrower not paying any amount which would, but for such reason, have been payable by it on the date when it would have been due. The amount payable by the Guarantor under this indemnity will not exceed the amount it would have had to pay hereunder if the amount claimed had been recoverable on the basis of a guarantee.