Englisch > Deutsch Wirtschaft/Finanzwesen Finanzen (allgemein) Contracts

I am not quite sure about the difference here, so no idea what to say in German

Each of the finance parties agrees not to enforce the guarantee ---- if and to the extent the payment is to be applied in satisfaction of any liablity of an Affiliate of the guarantor (other than the guarantor's Subsidiaries)

first letter in capitals but no explanation given, that's all I have but the text relates to an interpretation of the Deutsche Handelsgesetz § 266

TIA