Common use of Additional Guarantors; Release of Guarantors Clause in Contracts

Additional Guarantors; Release of Guarantors. Section 5.23 of the Credit Agreement provides that Subsidiaries which are or become Significant Subsidiaries must become Guarantors, by, among other things, executing and delivering to the Agent a counterpart of this Guaranty and the Contribution Agreement. Any Significant Subsidiary which executes and delivers to the Agent a counterpart of this Guaranty and the Contribution Agreement shall be a Guarantor for all purposes hereunder. Under certain circumstances described in paragraph (b) of Section 5.23 of the Credit Agreement, a Guarantor which is to be sold may obtain from the Agent a written release from this Guaranty pursuant to the provisions of such paragraph and upon obtaining such written release, any such former Guarantor shall no longer be a Guarantor hereunder. Each other Guarantor consents and agrees to any such release and agrees that no such release shall affect its obligations hereunder.

Appears in 1 contract

Samples: Credit Agreement (Trion Inc)

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Additional Guarantors; Release of Guarantors. Section 5.23 5.22(d) of the Amended and Restated Credit Agreement provides that Subsidiaries which are or become Significant Subsidiaries must become Guarantors, Guarantors by, among other things, executing and delivering to the Administrative Agent a counterpart of this Guaranty and the Contribution AgreementGuaranty. Any Significant Subsidiary which executes and delivers to the Administrative Agent a counterpart of this Guaranty and the Contribution Agreement shall be a Guarantor for all purposes hereunder. Under certain circumstances described in paragraph (b) the last sentence of Section 5.23 5.11 of the Amended and Restated Credit Agreement, a Guarantor which is to be sold Guarantors may obtain from the Administrative Agent a written release from this Guaranty pursuant to the provisions of such paragraph sentence, and upon obtaining such written release, any such former Guarantor Subsidiary shall no longer be a Guarantor hereunder. Each other Guarantor consents and agrees to any such release and agrees that no such release shall affect its obligations hereunder.. 138 144

Appears in 1 contract

Samples: Credit Agreement (Post Apartment Homes Lp)

Additional Guarantors; Release of Guarantors. Section 5.23 5.20 of the Credit Agreement provides that Significant Subsidiaries which are or become Significant Subsidiaries not Guarantors must become Guarantors, by, among other things, executing and delivering to the Agent a counterpart of this Guaranty and the Contribution Agreement. Any Significant Domestic Subsidiary which executes and delivers to the Agent a counterpart of this Guaranty and the Contribution Agreement shall be a Guarantor for all purposes hereunder. Under certain circumstances described in paragraph (b) of Section 5.23 5.20 of the Credit Agreement, a Guarantor which is to be sold may obtain from the Agent a written release from this Guaranty pursuant to the provisions of such paragraph and upon obtaining such written release, any such former Guarantor shall no longer be a Guarantor hereunder. Each other Guarantor consents and agrees to any such release and agrees that no such release shall affect its obligations hereunder.

Appears in 1 contract

Samples: Credit Agreement (Guilford Mills Inc)

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Additional Guarantors; Release of Guarantors. Section 5.23 of the Credit Agreement provides that all new Subsidiaries which are or become Significant Subsidiaries and must become Guarantors, by, among other things, executing and delivering to the Administrative Agent a counterpart of this Guaranty and the Contribution Agreementor a joinder agreement with respect hereto. Any Significant Subsidiary which executes and delivers to the Administrative Agent a counterpart of this Guaranty and the Contribution Agreement or a joinder agreement with respect hereto shall be a Guarantor for all purposes hereunder. Under certain circumstances described in paragraph (b) the last sentence of Section 5.23 5.05 of the Credit Agreement, a Guarantor which is to be sold Guarantors may obtain from the Administrative Agent a written release from this Guaranty pursuant to the provisions of such paragraph sentence, and upon obtaining such written release, any such former Guarantor Subsidiary shall no longer be a Guarantor hereunder. Each other Guarantor consents and agrees to any such release and agrees that no such release shall affect its obligations hereunder.

Appears in 1 contract

Samples: Credit Agreement (Amli Residential Properties Trust)

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