A RESULT OF INSOLVENCY OR ANY SIMILAR EVENT:
6.3.1
THE LIABILITY OF EACH BORROWER SHALL CONTINUE AS
IF THE PAYMENT, DISCHARGE, AVOIDANCE OR REDUCTION HAD NOT OCCURRED; AND
6.3.2
THE LENDER SHALL BE ENTITLED TO RECOVER THE
VALUE OR AMOUNT OF THAT SECURITY OR
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PAYMENT FROM EACH BORROWER, AS IF THE PAYMENT, DISCHARGE, AVOIDANCE OR REDUCTION
HAD NOT OCCURRED.
6.4
WAIVER OF DEFENCES - THE OBLIGATIONS OF THE
GUARANTOR UNDER THIS CLAUSE 6 WILL NOT BE AFFECTED BY ANY ACT, OMISSION, MATTER
OR THING WHICH, BUT FOR THIS CLAUSE, WOULD REDUCE, RELEASE OR PREJUDICE ANY OF
ITS OBLIGATIONS UNDER THIS CLAUSE 6 (WITHOUT LIMITATION AND WHETHER OR NOT KNOWN
TO IT OR THE LENDER) INCLUDING:
6.4.1
ANY TIME, WAIVER OR CONSENT GRANTED TO, OR
COMPOSITION WITH, ANY OBLIGOR OR OTHER PERSON;
6.4.2
THE RELEASE OF ANY OTHER OBLIGOR OR ANY OTHER
PERSON UNDER THE TERMS OF ANY COMPOSITION OR ARRANGEMENT WITH ANY CREDITOR OF
ANY MEMBER OF THE GROUP;
6.4.3
THE TAKING, VARIATION, COMPROMISE, EXCHANGE,
RENEWAL OR RELEASE OF, OR REFUSAL OR NEGLECT TO PERFECT, TAKE UP OR ENFORCE, ANY
RIGHTS AGAINST, OR SECURITY OVER ASSETS OF, ANY OBLIGOR OR OTHER PERSON OR ANY
NON-PRESENTATION OR NON-OBSERVANCE OF ANY FORMALITY OR OTHER REQUIREMENT IN
RESPECT OF ANY INSTRUMENT OR ANY FAILURE TO REALISE THE FULL VALUE OF ANY
SECURITY;
6.4.4
ANY INCAPACITY OR LACK OF POWER, AUTHORITY OR
LEGAL PERSONALITY OF OR DISSOLUTION OR CHANGE IN THE MEMBERS OR STATUS OF AN
OBLIGOR OR ANY OTHER PERSON;
6.4.5
ANY AMENDMENT, NOVATION, SUPPLEMENT, EXTENSION
(WHETHER OF MATURITY OR OTHERWISE) OR RESTATEMENT (IN EACH CASE HOWEVER
FUNDAMENTAL AND OF WHATEVER NATURE, AND WHETHER OR NOT MORE ONEROUS) OR
REPLACEMENT OF A FINANCE DOCUMENT OR ANY OTHER DOCUMENT OR SECURITY;
6.4.6
ANY UNENFORCEABILITY, ILLEGALITY OR INVALIDITY OF
ANY OBLIGATION OF ANY PERSON UNDER ANY FINANCE DOCUMENT OR ANY OTHER DOCUMENT OR
SECURITY; OR
6.4.7
ANY INSOLVENCY OR SIMILAR PROCEEDINGS.
6.5
GUARANTOR INTENT - WITHOUT PREJUDICE TO THE
GENERALITY OF CLAUSE 6.4 (WAIVER OF DEFENCES), THE GUARANTOR EXPRESSLY CONFIRMS
THAT IT INTENDS THAT THIS GUARANTEE SHALL EXTEND FROM TIME TO TIME TO ANY
(HOWEVER FUNDAMENTAL AND OF WHATSOEVER NATURE AND WHETHER OR NOT MORE ONEROUS)
VARIATION, INCREASE, EXTENSION OR ADDITION OF OR TO ANY OF THE FINANCE DOCUMENTS
AND/OR ANY FACILITY OR AMOUNT MADE AVAILABLE UNDER ANY OF THE FINANCE DOCUMENTS
FOR THE PURPOSES OF OR IN CONNECTION WITH ANY OF THE FOLLOWING: BUSINESS
ACQUISITIONS OF ANY NATURE; INCREASING WORKING CAPITAL; ENABLING INVESTOR
DISTRIBUTIONS TO BE MADE; CARRYING OUT RESTRUCTURINGS; REFINANCING EXISTING
FACILITIES; REFINANCING ANY OTHER INDEBTEDNESS; MAKING FACILITIES AVAILABLE TO
NEW BORROWERS; ANY OTHER VARIATION OR EXTENSION OF THE PURPOSES FOR WHICH ANY
SUCH FACILITY OR AMOUNT MIGHT BE MADE AVAILABLE FROM TIME TO TIME; AND ANY FEES,
COSTS AND/OR EXPENSES ASSOCIATED WITH ANY OF THE FOREGOING.
6.6
IMMEDIATE RECOURSE - THE GUARANTOR WAIVES ANY RIGHT
IT MAY HAVE OF FIRST REQUIRING THE LENDER (OR ANY TRUSTEE OR AGENT ON ITS
BEHALF) TO PROCEED AGAINST OR ENFORCE ANY
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