Amortization of Guaranteed Debt Sample Clauses

Amortization of Guaranteed Debt. In the event that the principal amount of a Guaranteed Debt is decreased as a result of amortization of such Guaranteed Debt such that the principal amount of the Guaranteed Debt (reduced by the amount of any other guarantees, indemnities or similar arrangements that apply with respect to such debt) is less than the Scheduled Guarantee Amount with respect to such Guaranteed Debt, then Vornado OP shall make available to the applicable SCR Partner Guarantors the opportunity to guarantee other Qualified Guarantee Indebtedness in an amount equal to the Scheduled Guarantee Amounts with respect to such debt (pursuant to a Qualified Guaranty that satisfies the conditions set forth in Section 3(e) above), with such replacement indebtedness thereafter being subject to this Article 3. Vornado OP shall have the right, but not the obligation, to offer to one or more SCR Partner Guarantors the opportunity to enter into a Qualified Guarantee with respect to Qualified Guarantee Indebtedness in an amount up to (but not in excess of) the projected reductions in such SCR Partner Guarantor's "share" of an amortizing Guaranteed Debt below such SCR Partner Guarantor's Scheduled Guarantee Amount with respect thereto during the next three years (or if less, the balance of such SCR Partner Guarantor's Protected Period) (an "Advance Replacement Guarantee Offer"). If Vornado OP makes an Advance Replacement Guarantee Offer in writing to an SCR Partner Guarantor and such SCR Partner Guarantor does not enter into the Qualified Guarantee offered in connection therewith, this Section 3(g) shall not be considered to have been violated with respect to such SCR Partner Guarantor by reason of amortization of the Guaranteed Debt with respect to which the Advance Replacement Guarantee Offer was made, up to the amount for which such Advance Replacement Guarantee Offer was made and not accepted.
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Related to Amortization of Guaranteed Debt

  • Acceleration of Guaranty Each Guarantor agrees that, in the event of the occurrence of any event of the type described in Section 8.01(f) of the Credit Agreement, with respect to the Borrowers, any other Obligor or any other Guarantor, and if such event shall occur at a time when any of the Obligations may not then be due and payable, such Guarantor will pay to the Lenders forthwith the full amount which would be payable hereunder by such Guarantor if all such Obligations were then due and payable.

  • Definition of Guaranteed Obligations As used herein, the term “Guaranteed Obligations” means:

  • Prior Payment of Guaranteed Obligations In any proceeding under any Bankruptcy Law relating to any other Loan Party, each Guarantor agrees that the Secured Parties shall be entitled to receive payment in full in cash of all Guaranteed Obligations (including all interest and expenses accruing after the commencement of a proceeding under any Bankruptcy Law, whether or not constituting an allowed claim in such proceeding (“Post Petition Interest”)) before such Guarantor receives payment of any Subordinated Obligations.

  • Subordination of Guarantee The guarantee and other liabilities and obligations of the Depositor under this Agreement shall constitute unsecured obligations of the Depositor and shall rank subordinate and junior in right of payment to all Senior Indebtedness (as defined in the Indenture) of the Depositor to the extent and in the manner set forth in the Indenture with respect to the Debentures, and the provisions of Article XIII of the Indenture will apply, mutatis mutandis, to the obligations of the Depositor hereunder. The obligations of the Depositor hereunder do not constitute Senior Indebtedness (as defined in the Indenture) of the Depositor.

  • Term of Guarantee The Term of Guarantee hereunder shall be two years as from the effectiveness date of this Contract until the expiration date of the term for fulfilling the debt under the Master Contract. Where the term of the debt is extended, subject to the consent of Guarantor, the Term of Guarantee shall last for the two years as from the expiration date of the term for fulfilling the debt as stipulated in the extension agreement. Provided that Party B announces to advance the maturity of the debt pursuant to the Master Contract, the Term of Guarantee shall last for the two years as from the date of the earlier maturity of the debt announced by Party B. In the event that the debt under the Master Contract is fulfilled on installments, then with respect to each debt, the Term of Guarantee shall be two years as from the expiration date of the term for fulfilling the last debt.

  • ADJUSTMENT OF GUARANTEES 8.1 In the event of any change to any law, governmental regulation or requirement or interpretation thereof (“Rule Change”) by any governmental agency made subsequent to the date of the Agreement and such Rule Change affects the A321 NEO Aircraft configuration or performance or both required to obtain certification the Guarantees will be appropriately modified to reflect the effect of any such change.

  • Subordination of Guarantees ANTI-LAYERING. No Guarantor shall incur, create, issue, assume, guarantee or otherwise become liable for any Indebtedness that is subordinate or junior in right of payment to any Senior Debt of a Guarantor and senior in any respect in right of payment to any of the Guarantees. Notwithstanding the foregoing sentence, the Guarantee of each Guarantor shall be subordinated to the prior payment in full of all Senior Debt of that Guarantor (in the same manner and to the same extent that the Securities are subordinated to Senior Debt), which shall include all guarantees of Senior Debt.

  • Additional Obligations of Guarantor It shall constitute a Default of the Lessee under this Lease if any such Guarantor fails or refuses, upon reasonable request by Lessor to give: (a) evidence of the due execution of the guaranty called for by this Lease, including the authority of the Guarantor (and of the party signing on Guarantor's behalf) to obligate such Guarantor on said guaranty, and resolution of its board of directors authorizing the making of such guaranty, together with a certificate of incumbency showing the signatures of the persons authorized to sign on its behalf, (b) current financial statements of Guarantor as may from time to time be requested by Lessor, (c) a Tenancy Statement, or (d) written confirmation that the guaranty is still in effect.

  • Discharge of Guaranty Upon Sale of Guarantor If all of the Capital Stock of any Guarantor or any of its successors in interest hereunder shall be sold or otherwise disposed of (including by merger or consolidation) in accordance with the terms and conditions hereof, the Guaranty of such Guarantor or such successor in interest, as the case may be, hereunder shall automatically be discharged and released without any further action by any Beneficiary or any other Person effective as of the time of such Asset Sale.

  • Termination of Guarantee (a) This Guarantee shall terminate upon the occurrence of the following events:

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