Common use of Limits of Guarantee Clause in Contracts

Limits of Guarantee. Notwithstanding the provisions of clause 9.2 to 9.17 inclusive, the following limitations shall apply to the relevant Guarantors: (a) Any payment under the Guarantee by any of the Guarantors incorporated in Austria (the "AUSTRIAN GUARANTORS") for any amounts not being direct liabilities of the respective Austrian Guarantor shall only be up to the amount of Distributable Profits for which CNA shall have given an instruction in accordance with clause 11.1(af) to the relevant Austrian Guarantor ("Anweisung auf ▇▇▇▇▇▇") stating that its interest in such Distributable Profits can be the subject of the Guarantee. Provided that the Agent agrees that, without prejudice to any of its other rights under this Agreement, it shall not make a demand for payment from Telekabel Wien under the Guarantee until 28 days after the date that the Agent has notified Telekabel Wien that a Default has occurred unless at such time (i) Telekabel Wien has repaid all amounts in respect of the Telekabel Notes, (ii) Telekabel Wien has breached any of its obligations under this Agreement or (iii) an Event of Default has otherwise occurred in relation to Telekabel Wien, in which case such 28 day grace period (or any unexpired part thereof) shall not apply. Payments under the Guarantee for direct liabilities of the relevant Austrian Guarantor are not subject to any restriction. (b) Belgium ------- Radio Public shall not have any liability under the Guarantee contained in this clause 9 unless and until such time as its Articles of Association have been amended to a form satisfactory to the Agent which form permits Radio Public to give the Guarantee (to the extent described in this clause 9.1(b)). Once the Articles of Association of Radio Public have been amended as set out above, the liability of Radio Public under the Guarantee shall be limited to the amount that has been on-lent to Radio Public from time to time from Advances made to the Parent, together with the amount of any Advances which have been applied by the Parent in satisfaction of obligations of Radio Public. (c) Each Guarantor which is incorporated in Norway (a "NORWEGIAN GUARANTOR") shall have no liability in excess of the aggregate of (i) the amounts drawn down and utilised by the Norwegian Borrowers under the Facility from time to time (up to but not exceeding the Norwegian Loan Amount) and (ii) a portion of the total loan amount drawn down and utilised by the Borrowers up to but not exceeding the amount of distributable equity of such Norwegian Guarantor for which adequate security has been provided in accordance with the provisions of section 12-10 of the Norwegian Companies Act of 1976.