Guarantee and Security. Each of the Lessee Guarantors has provided an irrevocable and unconditional corporate or personal guarantee with joint and several liability in favour of the Company in respect of all debt payable by Lessee E to the Company under each of the Direct Lease Agreements. Each of the following Supplier Guarantors has provided an irrevocable and unconditional corporate or personal guarantee with joint and several liability in favour of the Company in respect of all debt payable by Lessee E to the Company under each of the following Direct Lease Agreements: Supplier I the Direct Lease Agreement I the Direct Lease Agreement III the Direct Lease Agreement V the Direct Lease Agreement VI the Direct Lease Agreement IX the Direct Lease Agreement X the Direct Lease Agreement XI In respect of the Direct Lease Agreement VI, the Direct Lease Agreement VII, the Direct Lease Agreement VIII, the Direct Lease Agreement IX, the Direct Lease Agreement X, the Direct Lease Agreement XI, the Direct Lease Agreement XII, the Direct Lease Agreement XIII and the Direct Lease Agreement XIV, Lessee E also pledged certain production equipment and, among others, such ancillary, additional or substitution property of and rights in and interest accrued upon the production equipment as security to secure, among others, the performance of its obligations under each of the Direct Lease Agreements. Pursuant to the terms of the respective agreements between the following Suppliers and the Company, in the event that Lessee E fails to pay on time and in full the lease payment or any other amount under the following Direct Lease Agreement(s), the relevant Supplier agreed to, inter alia, repurchase from the Company the following Direct Lease Assets at a sum with reference to the difference of (a) the aggregate of the outstanding lease payment, the default payment and the retention consideration; and (b) the security deposit paid by ▇▇▇▇▇▇ E to the Company under the relevant Direct Lease Agreement(s). I Direct Lease Assets X Direct Lease Agreement X Direct Lease Assets XI Direct Lease Agreement XI Direct Lease Assets XII Direct Lease Agreement XII II Direct Lease Assets II Direct Lease Agreement II Direct Lease Assets XIII Direct Lease Agreement XIII III Direct Lease Assets IV Direct Lease Agreement IV Direct Lease Assets VII Direct Lease Agreement VII IV Direct Lease Assets XIV Direct Lease Agreement XIV
Appears in 1 contract
Sources: Finance Lease Agreements
Guarantee and Security. Each of the Lessee Personal Guarantors has provided an irrevocable and unconditional corporate or personal guarantee with joint and several liability in favour of the Company in respect of all debt payable by Lessee E F to the Company under each of the Direct Lease Agreements. Each of the following Supplier Guarantors Corporate Guarantor I has provided an irrevocable and unconditional corporate or personal guarantee with joint and several liability in favour of the Company in respect of all debt payable by Lessee E F1 to the Company under each of the following Direct Lease Agreements: Supplier I the Direct Lease Agreement I and the the Direct Lease Agreement III II, while Corporate Guarantor II has provided an irrevocable and unconditional corporate guarantee with joint and several liability in favour of the Company in respect of all debt payable by Lessee F2 to the Company under the Direct Lease Agreement V the Direct Lease Agreement VI the Direct Lease Agreement IX the Direct Lease Agreement X the Direct Lease Agreement XI In respect of the Direct Lease Agreement VI, the Direct Lease Agreement VII, the Direct Lease Agreement VIII, the Direct Lease Agreement IX, the Direct Lease Agreement X, the Direct Lease Agreement XI, the Direct Lease Agreement XII, the Direct Lease Agreement XIII and the Direct Lease Agreement XIV, III. Lessee E F also has pledged certain production equipment and, among others, such ancillary, additional or substitution property of and rights in and interest accrued upon the production equipment as security to secure, among others, the performance of its obligations under each of the Direct Lease Agreements. Pursuant to the terms of the respective agreements between the following Suppliers and the Company, in the event that Lessee E F fails to pay on time and in full the lease payment or any other amount under the following Direct Lease Agreement(s), the relevant Supplier Suppliers agreed to, inter alia, repurchase from the Company the following Direct Lease Assets at a sum with reference to the difference of (a) the aggregate of the outstanding lease payment, the default payment and the retention consideration; and (b) the security deposit paid by ▇▇▇▇▇▇ E Lessee F to the Company under the relevant Direct Lease Agreement(s)Agreements. I Direct Lease Assets X I Direct Lease Agreement X Direct Lease Assets XI Direct Lease Agreement XI Direct Lease Assets XII Direct Lease Agreement XII II I I Direct Lease Assets II Direct Lease Agreement II Direct Lease Assets XIII There is no such direct lease assets repurchase arrangement between the Company and Supplier II under to the Direct Lease Agreement XIII III Direct Lease Assets IV Direct Lease Agreement IV Direct Lease Assets VII Direct Lease Agreement VII IV Direct Lease Assets XIV Direct Lease Agreement XIVIII.
Appears in 1 contract
Sources: Finance Lease Agreement