Common use of Assignment; Governing Law Clause in Contracts

Assignment; Governing Law. This Guaranty shall be binding upon and inure to the benefit of Guarantor and the Class B Purchasers and each of their respective successors and assigns, except that Guarantor shall not have the right to assign its rights hereunder or any interest herein unless authorized by a writing executed by the Class B Purchasers. The Guarantor hereby consents (a) to the Class B Purchasers enforcing their rights and remedies hereunder and/or any other Owner or (b) to the assignment of all of the Class B Purchasers rights and remedies hereunder to any subsequent Noteholder or to the trustee under the Indenture. This Guaranty shall be governed by, and construed in accordance with, the laws of the State of New York, without regard to the conflicts of laws principles of such jurisdiction.