Common use of Release of the Guarantor Clause in Contracts

Release of the Guarantor. The Guarantor shall be released from its obligations under this Guarantee and its obligations under the other Indenture Documents upon payment in full of the principal of, and accrued and unpaid interest and premium, if any, and Additional Interest, if any, on the Notes and payment in full of all other Note Obligations with respect to such Notes that are due and payable at or prior to the time such principal, accrued and unpaid interest and premium are paid.

Appears in 2 contracts

Sources: Guarantee (Johnstone Tank Trucking Ltd.), Guarantee Agreement (Johnstone Tank Trucking Ltd.)