Secured Guarantees. Each Subsidiary Guarantor unconditionally guarantees the full and punctual payment of each Secured Obligation when due (whether at stated maturity, upon acceleration or otherwise). If any Borrower fails to pay any Secured Obligation punctually when due, each Subsidiary Guarantor agrees that it will forthwith on demand pay the amount not so paid at the place and in the manner specified in the relevant Secured Agreement.
Appears in 2 contracts
Sources: Indenture (Cummins Inc), Guarantee and Security Agreement (Cummins Inc)
Secured Guarantees. Each Subsidiary Guarantor Debtor unconditionally guarantees the full and punctual payment of each Secured Obligation when due (whether at stated maturity, upon acceleration or otherwise). If any Borrower other Debtor fails to pay any Secured Obligation punctually when due, each Subsidiary Guarantor Debtor agrees that it will forthwith on demand pay the amount not so paid at the place and in the manner specified in the relevant Secured AgreementFinancing Document.
Appears in 1 contract