Common use of Undertaking to pay Clause in Contracts

Undertaking to pay. In relation to each Class of Notes (as the same may be amended, modified, extended or renewed from time to time), the LLP undertakes to the Applicable Enforcing Party for the benefit of the relevant Noteholders to make full and prompt payment, when such Class is Due for Payment and at all times thereafter, of the Issuer’s obligations to pay all Payment Amounts with respect to such Class. This undertaking is independent of the Issuer’s obligations and given by the LLP by way of indemnity and so as primary obligor and not as surety.