Collateral Guarantees Clause Samples
The 'Collateral; Guarantees' clause establishes the requirement for a party to provide assets or third-party assurances to secure its obligations under an agreement. In practice, this may involve pledging property, cash, or other valuable assets as collateral, or arranging for a guarantor to promise payment or performance if the primary party defaults. This clause serves to reduce the risk for the other party by ensuring there are tangible or enforceable means to recover losses in the event of non-performance or breach.
Collateral Guarantees. (a) Each First Tier Company represents and warrants that the HS Pledge and Security Agreement executed and delivered by such First Tier Company, and the financing statements filed (or, in the case of financing statements delivered to the Administrative Agent for filing, upon the filing thereof) create, as security for the obligations of such First Tier Company under its FTC Guarantee, valid and enforceable, perfected first priority security interests in and Liens, in favor of the Administrative Agent as agent for the benefit of the Secured Parties, on (i) all the equity interests held by such First Tier Company in Holdco1, Holdco2, and Holdco3, as the case may be, (ii) all the equity interests held by such First Tier Company in Sale LLC, (iii) all the equity interests held by such First Tier Company in PPRP, and (iv) all other property in which a security interest is purported to be granted in such HS Pledge and Security Agreement or other agreements in which a Lien can be granted and perfected under the Uniform Commercial Code, subject to no other Liens, except as enforceability may be limited by applicable insolvency, bankruptcy or other laws affecting creditors’ rights generally, or general principles of equity, whether such enforceability is considered in a proceeding in equity or at law. Such security interests in and Liens upon such property are the sole and exclusive Liens on the property subject thereto and shall be superior to and prior to the rights of all third parties in such property.
(b) Each First Tier Company represents and warrants that the FTC Guarantee of such First Tier Company is in full force and effect and has not been repudiated or disaffirmed by such First Tier Company.
Collateral Guarantees any material provision of any ---------------------- security agreement or guaranty given in connection herewith shall for any reason cease to be valid and binding on or enforceable against the Loan Party party thereto or any Loan Party shall so state in writing or bring an action to limit its obligations or liabilities thereunder; (ii) any such guaranty shall for any reason be partially (including with respect to future advances) or wholly revoked; or (iii) any such security agreement shall for any reason (other than pursuant to the terms thereof) cease to create a valid security interest in the collateral purported to be covered thereby or such security interest shall for any reason cease to be a perfected and first priority (subject to Permitted Liens and other Liens permitted hereunder) security interest; THEN (i) upon the occurrence of any Event of Default described in clause (g) above, the Commitments and any obligation of the Issuing Bank to issue any Letter of Credit shall immediately terminate and all Loans hereunder together with accrued interest thereon, an amount equal to the Letter of Credit Usage and all other amounts owing under this Agreement, the Notes, the Letters of Credit and the other Loan Documents shall automatically become due and payable; (ii) upon the occurrence of any other Event of Default, the Agent shall at the request, or may with the consent, of the Majority Lenders, by notice to the Borrower, declare the Commitments and any obligation of the Issuing Bank to issue any Letter of Credit to be terminated forthwith, whereupon the Commitments and any obligation of the Issuing Bank to issue any Letter of Credit shall immediately terminate, and/or, by notice to the Borrower, declare the Loans hereunder, with accrued interest thereon, an amount equal to the Letter of Credit Usage and all other amounts owing under this Agreement, the Notes, the Letters of Credit and the other Loan Documents to be due and payable forthwith, whereupon the same shall immediately become due and payable; and (iii) Agent may exercise any and all rights and remedies provided to Agent or the Lenders under the Loan Documents. Except as expressly provided above in this Section, presentment, demand, protest and all other notices of any kind are hereby expressly waived. So long as any Letter of Credit shall remain outstanding, any amounts received by the Issuing Bank may be held as cash collateral for the obligation of the Borrower to reimburse the Issuing Bank ...
Collateral Guarantees. [n addition to the recorded deeds of trust on the Property securing the first and second loans, the Company shall provide the following additional guarantees for the first and second loans:
(a) Full personal guarantee of ▇▇▇▇▇▇▇ ▇▇▇▇▇ and ▇▇▇ ▇▇▇▇▇▇; (h) pledge of all AMEREX shares; (
Collateral Guarantees. Prior to the Discharge of all Obligations, the Collateral Agent for such Series of Obligations. Investors may not take, accept or receive the benefit of any Collateral, guarantee, indemnity or other assurance against loss in respect of Investors Obligations.
Collateral Guarantees. The Service Lessee shall provide, execute and/or register the collaterals/guarantees as agreed between the parties hereto to the Service Lessor as security for securing the payment obligations of the Service Lessee to the Service Lessor under this Agreement.
Collateral Guarantees