Common use of Nature of Undertakings Clause in Contracts

Nature of Undertakings. The acknowledgements and undertakings given by you under this letter are given to us and (without implying any fiduciary obligations on our part) are also given for the benefit of the Borrower and each other member of the Group in the form of a contract in favour of the Borrower and each other member of the Group as third party beneficiaries pursuant to §328(1) of the German Civil Code.

Nature of Undertakings. The acknowledgements and undertakings given by you under this letter are given to us and (without implying any fiduciary obligations on our part) are also given for the benefit of the Borrower Company and each other member of the Group in the form of a contract in favour of the Borrower Company and each other member of the Group as third party beneficiaries pursuant to §328(1) of the German Civil Code.