Secured Guarantees. Subject to Section 2(i), each Guarantor unconditionally guarantees the full and punctual payment of each Secured Obligation when due (whether at stated maturity, upon acceleration or otherwise) (a “Secured Guarantee”). If the Borrowers fail to pay any Secured Obligation punctually when due, subject to Section 2(i), each 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: Security Agreement (Equistar Chemicals Lp), Security Agreement (Lyondell Chemical Co)