Common use of Secured Guarantee Clause in Contracts

Secured Guarantee. 3 The Lien Grantor unconditionally guarantees the full and punctual payment of each Secured Obligation when due (whether at stated maturity, upon acceleration or otherwise). The Lien Grantor acknowledges that, by signing this Security Agreement Supplement and delivering it to the Collateral Representative, the Lien Grantor becomes a "Guarantor" and "Lien Grantor" for all purposes of the Security Agreement and that its obligations under the foregoing Secured Guarantee are subject to all the provisions of the Security ---------------------- 2 If the Lien Grantor is the Company, delete this recital and Section 1 hereof. 3 Delete this Section if the Lien Grantor is the Company or a Guarantor that is already a party to the Security Agreement. Agreement (including those set forth in Section 2 thereof) applicable to the obligations of a Guarantor thereunder.