Common use of Calpine Guaranties Clause in Contracts

Calpine Guaranties. Calpine shall have executed (a) an acknowledgement, in form and substance satisfactory to the Technical Committee, that such Initial Project shall be included with the obligations undertaken pursuant to the Project Completion Guaranty and (b) (i) in the case of each Person party to a Project Document that is directly or indirectly more than 50% owned by Calpine (other than the relevant Project Owner and Equipment Finance Company, if any), an Affiliated Party Agreement Guaranty in respect of each Project Document (guarantying 100% of such Person's obligations under each such Project Document) entered into between the relevant Project Owner and such Person for such Initial Project or (ii) in the case of each Person party to a Project Document that is directly or indirectly 50% owned by Calpine (other than the relevant Project Owner and Equipment Finance Company, if any), an Affiliated Party Agreement Guaranty in respect of each Project Document (guarantying at least Calpine's percentage ownership interest of such Person's obligations under each such Project Document) entered into between the relevant Project Owner and such Person for such Initial Project; provided, in the case of clause (b)(ii) of this Section 3.2.34, Borrower shall also deliver to Administrative Agent a guaranty agreement in favor of the relevant Project Owner in respect of each such Project Document, executed by a guarantor satisfactory to the Technical Committee and in form and substance satisfactory to the Technical Committee, guarantying those obligations of such Person under each such Project Document not otherwise addressed in the relevant Affiliated Party Agreement Guaranty delivered pursuant to such clause.

Calpine Guaranties. Calpine shall have executed (a) an acknowledgement, in form and substance satisfactory to the Technical Committee, that such Initial Subsequent Project shall be included with the obligations undertaken pursuant to the Project Completion Guaranty 48 63 and (b) (i) in the case of each Person party to a Project Document that is directly or indirectly more than 50% owned by Calpine (other than the relevant Project Owner and Equipment Finance Company, if any), an Affiliated Party Agreement Guaranty in respect of each Project Document (guarantying 100% of such Person's obligations under each such Project Document) entered into between the relevant Project Owner and such Person for such Initial Subsequent Project or (ii) in the case of each Person party to a Project Document that is directly or indirectly 50% owned by Calpine (other than the relevant Project Owner and Equipment Finance Company, if any), an Affiliated Party Agreement Guaranty in respect of each Project Document (guarantying at least Calpine's percentage ownership interest of such Person's obligations under each such Project Document) entered into between the relevant Project Owner and such Person for such Initial Subsequent Project; provided, in the case of clause (b)(ii) of this Section 3.2.343.3.36, Borrower shall also deliver to Administrative Agent a guaranty agreement in favor of the relevant Project Owner in respect of each such Project Document, executed by a guarantor satisfactory to the Technical Committee and in form and substance satisfactory to the Technical Committee, guarantying those obligations of such Person under each such Project Document not otherwise addressed in the relevant Affiliated Party Agreement Guaranty delivered pursuant to such clause.

Calpine Guaranties. Calpine shall have executed (a) an acknowledgement, in form and substance satisfactory to the Technical Committee, that such Initial Subsequent Project shall be included with the obligations undertaken pursuant to the Project Completion Guaranty and (b) (i) in the case of each Person party to a Project Document that is directly or indirectly more than 50% owned by Calpine (other than the relevant Project Owner and Equipment Finance Company, if any), an Affiliated Party Agreement Guaranty in respect of each Project Document (guarantying 100% of such Person's obligations under each such Project Document) entered into between the relevant Project Owner and such Person for such Initial Subsequent Project or (ii) in the case of each Person party to a Project Document that is directly or indirectly 50% owned by Calpine (other than the relevant Project Owner and Equipment Finance Company, if any), an Affiliated Party Agreement Guaranty in respect of each Project Document (guarantying at least Calpine's percentage ownership interest of such Person's obligations under each such Project Document) entered into between the relevant Project Owner and such Person for such Initial Subsequent Project; provided, in the case of clause (b)(ii) of this Section 3.2.343.3.36, Borrower shall also deliver to Administrative Agent a guaranty agreement in favor of the relevant Project Owner in respect of each such Project Document, executed by a guarantor satisfactory to the Technical Committee and in form and substance satisfactory to the Technical Committee, guarantying those obligations of such Person under each such Project Document not otherwise addressed in the relevant Affiliated Party Agreement Guaranty delivered pursuant to such clause.

Calpine Guaranties. Calpine shall have executed (a) an acknowledgement, in form and substance satisfactory to the Technical Committee, that such Initial Subsequent Project shall be included with the obligations undertaken pursuant to the Project Completion Guaranty and (b) (i) in the case of each Person party to a Project Document that is directly or indirectly more than 50% owned by Calpine (other than the relevant Project Owner and Equipment Finance Company, if any), an Affiliated Party Agreement Guaranty in respect of each Project Document (guarantying 100% of such Person's obligations under each such Project Document) entered into between the relevant Project Owner and such Person for such Initial Subsequent Project or (ii) in the case of each Person party to a Project Document that is directly or indirectly 50% owned by Calpine (other than the relevant Project Owner and Equipment Finance Company, if any), an Affiliated Party Agreement Guaranty in respect of each Project Document (guarantying at least Calpine's percentage ownership interest of such Person's obligations under each such Project Document) entered into between the relevant Project Owner and such Person for such Initial Subsequent Project; provided, in the case of clause (b)(ii) of this Section 3.2.3421 of this Schedule 3.3.41, Borrower shall also deliver to Administrative Agent a guaranty agreement in favor of the relevant Project Owner in respect of each such Project Document, executed by a guarantor satisfactory to the Technical Committee and in form and substance satisfactory to the Technical Committee, guarantying those obligations of such Person under each such Project Document not otherwise addressed in the relevant Affiliated Party Agreement Guaranty delivered pursuant to such clause.