Common use of Timely Demand Clause in Contracts

Timely Demand. In the event that the Agent, on behalf of the Tranche A Lenders, fails to make demand on the Board within the time period required in Section 4.02(vi), the Guarantee of the unpaid installment of principal and/or interest as to which such timely demand was not made shall automatically terminate with respect thereto. This termination shall be without prejudice to the right of the Agent, on behalf of the Tranche A Lenders, to make demand on the Board under this Agreement in respect of any other due and unpaid installments of principal or interest.

Timely Demand. In the event that the Agent, on behalf of the Tranche A LendersLender, fails to make demand on the Board within the time period required in Section 4.02(vi), the Guarantee of the unpaid installment of principal and/or interest as to which such timely demand was not made shall automatically terminate with respect thereto. This termination shall be without prejudice to the right of the Agent, on behalf of the Tranche A LendersLender, to make demand on the Board under this Agreement in respect of any other due and unpaid installments of principal or interest.