Common use of Guarantees and Other Obligations Clause in Contracts

Guarantees and Other Obligations. Enter into any agreement or arrangement to guarantee or, in any way or under any condition, assume or become obligated for all or any part of any financial or other obligation of another Person other than those existing at the time of signing including the Notes, provided that it is understood and agreed that IFC waives the Borrower's compliance with this paragraph (f) at all times during which the Security Coverage Ratio exceeds 1.6, but only if any agreement or arrangement to guarantee is non-recourse to the Guarantor and the value of the new guarantee is limited to the value of its collateral;

Guarantees and Other Obligations. Enter into any agreement or arrangement to guarantee or, in any way or under any condition, assume or become obligated for all or any part of any financial or other obligation of another Person other than those existing at the time of signing including the Notes, provided that it is understood and agreed that IFC OFID waives the Borrower's compliance with this paragraph (f) at all times during which the Security Coverage Ratio exceeds 1.6, but only if any agreement or arrangement to guarantee is non-recourse to the Guarantor and the value of the new guarantee is limited to the value of its collateral;