Common use of Covenant to Guarantee Obligations Clause in Contracts

Covenant to Guarantee Obligations. The Loan Parties will cause each of their Subsidiaries whether newly formed, after acquired or otherwise existing to promptly (and in any event within thirty (30) days after such Subsidiary is formed or acquired (or such longer period of time as agreed to by the Administrative Agent in its reasonable discretion)) become a Guarantor hereunder by way of execution of a Joinder Agreement; provided, however, no Subsidiary formed with the intent of becoming an Excluded Subsidiary that meets the requirements to be an Excluded Subsidiary shall be required to become a Guarantor. In connection therewith, the Loan Parties shall give notice to the Administrative Agent within thirty (30) days (or such longer period of time as agreed to by the Administrative Agent in its reasonable discretion) after creating a Subsidiary or acquiring the Equity Interests of any other Person. In connection with the foregoing, the Loan Parties shall deliver to the Administrative Agent, with respect to each new Guarantor to the extent applicable, substantially the same documentation required pursuant to Sections 4.01 and 6.14 and such other documents or agreements as the Administrative Agent may reasonably request. Notwithstanding anything to the contrary in this Section 6.13, with respect to the Acquisition of CEE, the Loan Parties shall cause LH Merger Sub 2 to (x) complete all planned mergers and name changes with respect to CEE no later than fourteen (14) days after the Closing Date, (y) enter into a Joinder Agreement and deliver all other documentation required by this Section 6.13 no later than twenty (20) days after the Closing Date and (z) deliver membership certificates evidencing the Pledged Equity of CEE, Qualifying Control Agreements with respect to all deposit accounts and securities accounts of CEE and an opinion of counsel for the Loan Parties related thereto pursuant to, and in accordance with, Sections 6.14(a)(ii) and (d)(ii). [***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission.

Appears in 3 contracts

Samples: Credit Agreement (Sunrun Inc.), Credit Agreement (Sunrun Inc.), Credit Agreement (Sunrun Inc.)

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Covenant to Guarantee Obligations. The Loan Parties will cause On each Guarantor Assessment Date, the Borrower shall determine whether there exists any new or additional Material Subsidiaries, and if so, the Borrower shall promptly notify the Administrative Agent of their Subsidiaries whether newly formed, after acquired or otherwise existing to such fact and promptly thereafter (and in any event event, within thirty (30) days after or such other period as the Administrative Agent may approve in its sole discretion): (i) unless such Material Subsidiary is formed or acquired unable to execute a Guaranty Joinder Agreement (or in the case of the first such longer period Material Subsidiary to become a Loan Party, the Guaranty), without contravening local law and without causing any non-de minimis adverse tax effect as to the Borrower (and the Borrower provides a certificate to such effect), cause such Material Subsidiary to deliver to the Administrative Agent the Guaranty or a Guaranty Joinder Agreement, as applicable, duly executed by such Material Subsidiary (but subject to the limitations on the amounts guarantied set forth in the form of time Guaranty attached hereto); and (ii) if such Material Subsidiary is required to deliver a Guaranty or Guaranty Joinder Agreement under clause (i) above, also deliver to the Administrative Agent documents of the types referred to in clauses (iv) and (v) of Section 4.01(a) as agreed to such Material Subsidiary and, if requested by the Administrative Agent Agent, favorable customary opinions of counsel to such Material Subsidiary (which shall cover, among other things, the legality, validity, binding effect and enforceability of the documentation referred to in its reasonable discretionthis Section 6.14), all in form, content and scope reasonably satisfactory to the Administrative Agent; Notwithstanding anything to the contrary herein, (a) become a Guarantor hereunder by way of execution of a Joinder Agreement; provided, however, no Foreign Subsidiary formed with the intent of becoming an Excluded or Foreign Subsidiary that meets the requirements to be an Excluded Subsidiary Holding Company shall be required to become a Guarantor. In connection therewith, the Guarantor or Loan Parties shall give notice to the Administrative Agent within thirty (30) days (Party or such longer period grant Liens on any of time as agreed to by the Administrative Agent in its reasonable discretion) after creating a Subsidiary or acquiring the Equity Interests of any other Person. In connection with the foregoing, the Loan Parties shall deliver to the Administrative Agent, with respect to each new Guarantor to the extent applicable, substantially the same documentation required pursuant to Sections 4.01 and 6.14 and such other documents or agreements as the Administrative Agent may reasonably request. Notwithstanding anything to the contrary in this Section 6.13, with respect to the Acquisition of CEE, the Loan Parties shall cause LH Merger Sub 2 to (x) complete all planned mergers and name changes with respect to CEE no later than fourteen (14) days after the Closing Date, (y) enter into a Joinder Agreement and deliver all other documentation required by this Section 6.13 no later than twenty (20) days after the Closing Date property; and (zb) deliver membership certificates evidencing neither the Pledged Borrower nor any Subsidiary shall be required to pledge any Equity of CEE, Qualifying Control Agreements with respect to all deposit accounts and securities accounts of CEE and an opinion of counsel for the Loan Parties related thereto pursuant to, and in accordance with, Sections 6.14(a)(ii) and (d)(ii). [***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange CommissionInterests.

Appears in 2 contracts

Samples: Credit Agreement (Varian Medical Systems Inc), Credit Agreement (Varian Medical Systems Inc)

Covenant to Guarantee Obligations. The Loan Parties will cause each of their Subsidiaries whether newly formed, after acquired or otherwise existing to promptly (and in any event within Within thirty (30) days after such Subsidiary is formed or acquired (or such longer period of time as is agreed to by the Administrative Agent in its reasonable sole discretion) after the acquisition or formation of any Domestic Subsidiary (it being understood that any Subsidiary ceasing to be an Excluded Subsidiary but remaining a Subsidiary shall be deemed to be the acquisition of a Subsidiary for purposes of this Section 6.13)) , cause such Person to become a Guarantor hereunder by way of execution of a Joinder Agreement; provided, however, no Subsidiary formed with the intent of becoming an Excluded Subsidiary that meets the requirements to be an Excluded Subsidiary shall be required to become a Guarantor. In connection therewith, the Loan Parties shall give notice Guarantor (subject to the Administrative Agent within thirty (30) days (or such longer period last sentence of time as agreed to by the Administrative Agent in its reasonable discretion) after creating a Subsidiary or acquiring the Equity Interests of any other Personthis Section 6.13). In connection with the foregoing, the Loan Parties shall deliver to the Administrative Agent, with respect to each new Guarantor to the extent applicable, Organization Documents, resolutions, incumbency certificates, good standing certificates, lien searches, searches of Intellectual Property records and substantially the same documentation otherwise required pursuant to Sections 4.01 Section 6.13 and Section 6.14 (including applicable Mortgages and Mortgaged Property Security Documents) and, to the extent required by the Administrative Agent, favorable opinions of counsel to such Person (which should cover, among other documents things, the legality, binding effect and enforceability), all in form, content and scope satisfactory to the Administrative Agent. It is understood and agreed that, to the extent that, as of the last day of any Measurement Period for which financial statements were required to be delivered pursuant to Section 6.01(a) or agreements (b), the Consolidated EBITDA for such Measurement Period attributable to all Loan Parties in the aggregate does not equal or exceed seventy percent (70%) of Consolidated EBITDA for such Measurement Period, the Company shall within thirty (30) days (or such longer period of time as is agreed to by the Administrative Agent may reasonably request. Notwithstanding anything in its sole discretion) cause Subsidiaries that would otherwise be classified as Excluded Subsidiaries to become Guarantors in accordance with the foregoing provisions of Section 6.13 to the contrary in this Section 6.13, with respect extent necessary so that the Consolidated EBITDA that is attributable only to the Acquisition of CEE, the Loan Parties shall cause LH Merger Sub 2 is equal to or exceeds seventy percent (x70%) complete all planned mergers and name changes with respect to CEE no later than fourteen (14) days after the Closing Date, (y) enter into a Joinder Agreement and deliver all other documentation required by this Section 6.13 no later than twenty (20) days after the Closing Date and (z) deliver membership certificates evidencing the Pledged Equity of CEE, Qualifying Control Agreements with respect to all deposit accounts and securities accounts of CEE and an opinion of counsel Consolidated EBITDA for the Loan Parties related thereto pursuant to, and in accordance with, Sections 6.14(a)(ii) and (d)(ii). [***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commissionsuch Measurement Period.

Appears in 2 contracts

Samples: Credit Agreement (Amedisys Inc), Credit Agreement (Amedisys Inc)

Covenant to Guarantee Obligations. The Loan Parties will (a) If (x) any direct or indirect Subsidiary of AGFC provides a Guarantee of any Indebtedness of AGFC represented by securities or (y) any Subsidiary of AGFC (other than an Excluded Subsidiary) shall be formed or established that conducts or services “branch” loan receivables which are originated in the United States, then AGFC shall, at AGFC’s expense: (i) promptly cause each of their Subsidiaries whether newly formed, after acquired or otherwise existing to promptly (and in any event within thirty (30) days after such Subsidiary is formed or acquired (or such longer period of time as agreed to by the Administrative Agent in its reasonable discretion)) become a Guarantor hereunder by way of execution of a Joinder Agreement; provided, however, no Subsidiary formed with the intent of becoming an Excluded Subsidiary that meets the requirements to be an Excluded Subsidiary shall be required to become a Guarantor. In connection therewith, the Loan Parties shall give notice duly execute and deliver to the Administrative Agent within thirty (30) days (or an executed joinder agreement to this Agreement in the capacity as a Subsidiary Guarantor, and if such longer period of time as agreed Subsidiary pledges Eligible Loan Receivables, to by an Intercompany Secured Loan Agreement and the Intercompany Security Documents, in each case, in form and substance reasonably satisfactory to the Administrative Agent in its reasonable discretionAgent; and (ii) within 15 days after creating a Subsidiary such formation, acquisition or acquiring the Equity Interests of any other Person. In connection with the foregoingactivity, the Loan Parties shall deliver to the Administrative Agent, with respect to each new Guarantor upon the request of the Required Lenders, a signed copy of a favorable opinion, addressed to the extent applicableAdministrative Agent and the other Secured Parties, substantially of counsel for the same documentation required pursuant Loan Parties acceptable to Sections 4.01 the Administrative Agent as to the matters contained in clause (i) above, and 6.14 and as to such other documents or agreements matters as the Administrative Agent may reasonably request. Notwithstanding anything request (but consistent with the legal opinions delivered on the Closing Date pursuant to Section 4.01(a)(vii)). (b) At any time upon request of the contrary in this Section 6.13Administrative Agent, with respect to promptly execute and deliver any and all further instruments and documents and take all such other action as the Acquisition of CEE, Administrative Agent may reasonably deem necessary or desirable and that the Loan Parties shall cause LH Merger Sub 2 are commercially able to do in obtaining the full benefits of, or (as applicable) in perfecting and preserving the Liens of, such guaranties and pledge agreements. (c) Notwithstanding any other provision of this Agreement (x) complete at all planned mergers times AGF CashCo shall be a Subsidiary Guarantor and name changes with respect to CEE no later than fourteen (14) days after the Closing Date, (y) enter into no Subsidiary of AGFC listed on Schedule 1.01(c) shall be required to grant Guarantees of the Obligations of Borrower unless such Subsidiary becomes a Joinder Agreement and deliver all other documentation required by Qualifying Subsidiary Guarantor. (d) Notwithstanding the foregoing, no Foreign Subsidiary shall be a Subsidiary Guarantor or otherwise be subject to this Section 6.13 no later than twenty (20) days after the Closing Date and (z) deliver membership certificates evidencing the Pledged Equity of CEE, Qualifying Control Agreements with respect to all deposit accounts and securities accounts of CEE and an opinion of counsel for the Loan Parties related thereto pursuant to, and in accordance with, Sections 6.14(a)(ii) and (d)(ii). [***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission6.10.

Appears in 2 contracts

Samples: Credit Agreement (American General Finance Corp), Credit Agreement (American General Finance Inc)

Covenant to Guarantee Obligations. The Loan Parties will cause each of their Subsidiaries whether newly formed, after acquired or otherwise existing to promptly (and in any event within thirty (30) days after such Subsidiary is formed or acquired (or such longer period of time as agreed to by the Administrative Agent Lender in its reasonable discretion)) become a Guarantor hereunder by way of execution of a Joinder Agreement; provided, however, (i) no Foreign Subsidiary disclosed on the Schedules provided in connection with this Agreement and existing on the Closing Date other than those listed in the signature pages hereof under the heading “Guarantor” shall be required to become a Guarantor unless an Event of Default has occurred and is continuing, (ii) no Subsidiary formed that is a CFC shall be required to become a Guarantor hereunder with the intent of becoming an Excluded Subsidiary that meets the requirements to be an Excluded respect to, or otherwise guarantee, any Obligations or as otherwise limited in Section 9.01(b) and (iii) no Immaterial Subsidiary shall be required to become a GuarantorGuarantor unless an Event of Default has occurred and is continuing. In connection therewith, the Loan Parties shall give notice to the Administrative Agent within thirty Lender not less than ten (3010) days prior to creating a Subsidiary (or such longer shorter period of time as agreed to by the Administrative Agent Lender in its reasonable discretion) after creating a Subsidiary ), or acquiring the Equity Interests of any other Person. In connection with the foregoing, the Loan Parties shall deliver to the Administrative AgentLender, with respect to each new Guarantor to the extent applicable, substantially the same documentation required pursuant to Sections 4.01 4.01(b) and (e) and 6.14 and such other documents or agreements as the Administrative Agent Lender may reasonably request. Notwithstanding anything to the contrary in this Section 6.13, with respect to the Acquisition of CEEincluding without limitation, the Loan Parties shall cause LH Merger Sub 2 to (x) complete all planned mergers and name changes with respect to CEE no later than fourteen (14) days after the Closing Dateupdated Schedules 1.01(b), (y) enter into a Joinder Agreement and deliver all other documentation required by this Section 6.13 no later than twenty (20) days after the Closing Date and (z) deliver membership certificates evidencing the Pledged Equity of CEE5.10, Qualifying Control Agreements with respect to all deposit accounts and securities accounts of CEE and an opinion of counsel for the Loan Parties related thereto pursuant to5.19(a), 5.19(b), 5.20(b), 5.20(c), 5.20(d)(i), 5.20(d)(ii), 5.20(e), 5.20(f), and in accordance with, Sections 6.14(a)(ii) and (d)(ii5.20(g). [***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission.

Appears in 2 contracts

Samples: Credit Agreement (AstroNova, Inc.), Credit Agreement (AstroNova, Inc.)

Covenant to Guarantee Obligations. The Loan Parties will cause each of their Subsidiaries (other than any Excluded Subsidiary) whether newly formed, after acquired or otherwise existing to promptly (and in any event to, within thirty (30) days after such Subsidiary is formed or acquired (or such longer period of time as agreed to by the Administrative Agent in its reasonable sole discretion)) , become a Guarantor hereunder by way of execution of a Joinder Agreement; provided, however, no Subsidiary formed with the intent of becoming an Excluded Subsidiary that meets the requirements to be an Excluded Subsidiary shall be required to become a Guarantor. In connection therewith, the Loan Parties shall give notice to the Administrative Agent within thirty not less than five (305) days prior to creating a Subsidiary (or such longer shorter period of time as agreed to by the Administrative Agent in its reasonable sole discretion) after creating a Subsidiary or acquiring the Equity Interests of any other Person. In connection with the foregoing, the Loan Parties shall deliver to the Administrative Agent, with respect to each new Guarantor to the extent applicable, substantially (i) a Joinder Agreement, together with other Loan Documents reasonably requested by Administrative Agent, including all Security Instruments and other documents reasonably requested to establish and preserve the same documentation required pursuant Lien of Administrative Agent in all Collateral of such Subsidiary, subject to Sections 4.01 any limitations on Collateral set forth in the Loan Documents; (ii) Uniform Commercial Code financing statements and 6.14 original collateral (including pledged Equity Interests, other securities and Instruments) and such other documents or and agreements as may be reasonably required by Administrative Agent, all as necessary or desirable to establish and maintain a valid, perfected Lien in all Collateral in which such Subsidiary has an interest consistent with the Administrative Agent may reasonably request. Notwithstanding anything to the contrary in this Section 6.13, with respect to the Acquisition terms of CEE, the Loan Parties shall cause LH Merger Sub 2 to (x) complete all planned mergers and name changes with respect to CEE no later than fourteen (14) days after the Closing Date, (y) enter into a Joinder Agreement and deliver all other documentation required by this Section 6.13 no later than twenty (20) days after Documents executed on the Closing Date (and subject to any limitations on Collateral set forth therein); (ziii) deliver membership certificates evidencing the Pledged Equity of CEE, Qualifying Control Agreements with respect to all deposit accounts and securities accounts of CEE and an opinion of counsel to such Subsidiary addressed to Administrative Agent and the Lenders, in form and substance reasonably acceptable to Administrative Agent and substantially similar to those opinions of counsel delivered on the Closing Date; and (iv) current copies of the Organization Documents of such Subsidiary, resolutions of the Board of Directors, partners, or appropriate committees thereof (and, if required by such Organization Documents or applicable law, of the shareholders, members or partners) of such Person authorizing the actions and the execution and delivery of documents described in this Section 6.14, all certified by a Responsible officer of Borrower. For the avoidance of doubt, (i) no Excluded Subsidiary shall be required to guarantee or pledge its assets for any Obligations of a Loan Party that is a United States person within the meaning of Section 7701(a)(30) of the Code, (ii) any applicable Loan Party that directly owns the issued and outstanding Equity Interests of an Excluded Subsidiary shall be required to pledge not more than 65% of the issued and outstanding voting Equity Interests in such Excluded Subsidiary and 100% of the issued and outstanding non-voting Equity Interests in such Excluded Subsidiary to secure the Obligations of such Loan Parties related thereto pursuant to, and in accordance with, Sections 6.14(a)(ii) and (d)(ii). [***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commissioniii) in no event shall any Equity Interests of any Excluded Subsidiary not owned directly by Loan Party be required to be pledged hereunder.

Appears in 2 contracts

Samples: Second Lien Credit Agreement (CardConnect Corp.), Credit Agreement (CardConnect Corp.)

Covenant to Guarantee Obligations. (a) The Loan Parties will cause each of their Domestic Subsidiaries (other than any Immaterial Subsidiary), whether newly formed, after acquired or otherwise existing to promptly (and in any event within thirty (30) days after such Subsidiary is formed or acquired (or such longer period of time as agreed to by the Administrative Agent in its reasonable discretion)) become a Guarantor hereunder by way of execution of a Joinder Agreement; provided, however, no Subsidiary formed with the intent of becoming an Excluded Subsidiary that meets the requirements to be an Excluded Subsidiary shall be required to become a Guarantor. In connection therewith, the Loan Parties shall give notice to the Administrative Agent within thirty not less than ten (3010) days prior to creating any Domestic Subsidiary (other than an Immaterial Subsidiary) (or such longer shorter period of time as agreed to by the Administrative Agent in its reasonable discretion) after creating a Subsidiary ), or acquiring the Equity Interests of any other Person. In connection with the foregoing, the Loan Parties shall deliver to the Administrative Agent, with respect to each new Guarantor, to the extent applicable, substantially the same documentation required pursuant to Sections 4.01(b),(c),(e),(f) and (j) (in each case unless waived by the Administrative Agent in its reasonable discretion) and 6.14 and such other documents or agreements as the Administrative Agent may reasonably request, including without limitation, updated Schedules 1.01(c), 5.20(a), 5.20(b), 5.21(b) and 5.21(c). Notwithstanding the first sentence of this clause (a), if upon the formation or Acquisition of an Immaterial Subsidiary, the Guarantor Requirement, as defined in clause (c) below, would not be satisfied, the Borrower shall cause such Subsidiary (or another Subsidiary) to deliver a Joinder Agreement and the other items described in this clause (a) in order to satisfy the Guarantor Requirement. (b) Notwithstanding the provisions of clause (a) above, if, as of the last day of any Measurement Period, any Domestic Subsidiary that has previously qualified as an Immaterial Subsidiary no longer so qualifies or if, as of the last day of any Measurement Period or as of the date of formation or acquisition of a new Domestic Subsidiary, the Guarantor Requirement, as defined below, is not satisfied, the Borrower shall include notice of such event in the Compliance Certificate delivered for such Measurement Period and deliver, or cause to be delivered, to the Administrative Agent as soon as practicable but in any event within thirty (30) days (or such longer period as may be approved by the Administrative Agent in its reasonable discretion) after the delivery of such Compliance Certificate, a Joinder Agreement for such Domestic Subsidiary and each other Domestic Subsidiary as may be necessary to cause the Guarantor Threshold to be satisfied. In connection with the foregoing, the Loan Parties shall deliver to the Administrative Agent, with respect to each new Guarantor to the extent applicable, substantially the same documentation required pursuant to Sections 4.01 4.01(b),(c),(e),(f) and (j) (in each case unless waived by the Administrative Agent in its reasonable discretion) and 6.14 and such other documents or agreements as the Administrative Agent may reasonably request, including without limitation, updated Schedules 1.01(c), 5.20(a), 5.20(b), 5.21(b) and 5.21(c). Notwithstanding anything In addition, upon the joinder of an additional Loan Party pursuant to this clause (b), the Borrower shall deliver to the contrary Administrative Agent a certificate of a Responsible Officer setting forth a calculation on a Pro Forma Basis of the percentage of Consolidated EBITDA and the percentage of Consolidated Total Assets contributed by the Loan Parties (including the newly joined Loan Party), all determined as of the most recently ended Measurement Period as if such Loan Party had been joined on such date. (c) As used in this Section 6.13, “Guarantor Requirement” means, at any relevant time of determination, with respect to any Permitted Acquisition or other Investment permitted hereunder and at the Acquisition end of CEEeach Measurement Period, that the entities constituting Loan Parties shall cause LH Merger Sub 2 represent (as assessed on the basis of the most recent Measurement Period for which financial statements have been delivered to the Administrative Agent pursuant to Section 6.01(a) or (xb) complete all planned mergers and name changes in a manner consistent with respect the definition of “Consolidated EBITDA but limited to CEE no later than fourteen (14) days after the Closing Date, (y) enter into a Joinder Agreement and deliver all other documentation required by this Section 6.13 no later than twenty (20) days after the Closing Date and (z) deliver membership certificates evidencing the Pledged Equity of CEE, Qualifying Control Agreements with respect to all deposit accounts and securities accounts of CEE and an opinion of counsel for the Loan Parties related thereto pursuant toParties’ results of operations), but giving Pro Forma Effect to such Permitted Acquisition or other Investment, and including Equity Interests in accordance withSubsidiaries, Sections 6.14(a)(iibut excluding Investments that are eliminated in Consolidation) not less than 90% of Consolidated EBITDA and (d)(ii). [***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commissionnot less than 90% of Consolidated Total Assets.

Appears in 2 contracts

Samples: Credit Agreement (Agilysys Inc), Credit Agreement (Agilysys Inc)

Covenant to Guarantee Obligations. The Loan Parties will cause each of their Subsidiaries whether newly formed, after acquired or otherwise existing to promptly (and in any event within Within thirty (30) days after such Subsidiary is formed or acquired (or such longer period of time as is agreed to by the Administrative Agent in its reasonable sole discretion) after the acquisition or formation of any Domestic Subsidiary (it being understood that any Subsidiary ceasing to be an Excluded Subsidiary but remaining a Subsidiary shall be deemed to be the acquisition of a Subsidiary for purposes of this Section 6.13)) , cause such Person to become a Guarantor hereunder by way of execution of a Joinder Agreement; provided, however, no Subsidiary formed with the intent of becoming an Excluded Subsidiary that meets the requirements to be an Excluded Subsidiary shall be required to become a Guarantor. In connection therewith, the Loan Parties shall give notice Guarantor (subject to the Administrative Agent within thirty (30) days (or such longer period last sentence of time as agreed to by the Administrative Agent in its reasonable discretion) after creating a Subsidiary or acquiring the Equity Interests of any other Personthis Section 6.13). In connection with the foregoing, the Loan Parties shall deliver to the Administrative Agent, with respect to each new Guarantor to the extent applicable, substantially the same documentation required pursuant to Sections 4.01 4.01(b) and (g) and Section 6.14 (including applicable Mortgages and Mortgaged Property Security Documents) and, to the extent required by the Administrative Agent, favorable opinions of counsel to such Person (which should cover, among other documents things, the legality, binding effect and enforceability), all in form, content and scope satisfactory to the Administrative Agent. It is understood and agreed that, to the extent that, as of the last day of any Measurement Period for which financial statements were required to be delivered pursuant to Section 6.01(a) or agreements (b), the Consolidated EBITDA for such Measurement Period attributable to all Loan Parties in the aggregate does not equal or exceed seventy percent (70%) of Consolidated EBITDA for such Measurement Period, the Company shall within thirty (30) days (or such longer period of time as is agreed to by the Administrative Agent may reasonably request. Notwithstanding anything in its sole discretion) cause Subsidiaries that would otherwise be classified as Excluded Subsidiaries to become Guarantors in accordance with the foregoing provisions of Section 6.13 to the contrary in this Section 6.13, with respect extent necessary so that the Consolidated EBITDA that is attributable only to the Acquisition of CEE, the Loan Parties shall cause LH Merger Sub 2 is equal to or exceeds seventy percent (x70%) complete all planned mergers and name changes with respect to CEE no later than fourteen (14) days after the Closing Date, (y) enter into a Joinder Agreement and deliver all other documentation required by this Section 6.13 no later than twenty (20) days after the Closing Date and (z) deliver membership certificates evidencing the Pledged Equity of CEE, Qualifying Control Agreements with respect to all deposit accounts and securities accounts of CEE and an opinion of counsel Consolidated EBITDA for the Loan Parties related thereto pursuant to, and in accordance with, Sections 6.14(a)(ii) and (d)(ii). [***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commissionsuch Measurement Period.

Appears in 1 contract

Samples: Credit Agreement (Amedisys Inc)

Covenant to Guarantee Obligations. (a) The Loan Parties will cause each of their Material Subsidiaries (other than Excluded Subsidiaries), whether newly formed, after acquired or otherwise existing to promptly (and in any event within thirty (30) days after such Subsidiary is formed or acquired (or such longer period of time as agreed to by the Administrative Agent in its reasonable discretion)) become a Guarantor hereunder by way of execution of a Joinder Agreement (and, as appropriate, a separate security agreement, in substantially the form of the Security Agreement; provided, however, no Subsidiary formed with the intent of becoming an Excluded Subsidiary that meets the requirements to be an Excluded Subsidiary shall be required to become a Guarantor). In connection therewith, the Loan Parties shall give notice to the Administrative Agent within thirty not less than five (305) days prior to creating any Material Subsidiary that is a Restricted Subsidiary (or such longer shorter period of time as agreed to by the Administrative Agent in its reasonable discretion) after creating a Subsidiary ), or acquiring the Equity Interests of any other Person. In connection with the foregoing, the Loan Parties shall deliver to the Administrative Agent, with respect to each new Guarantor, to the extent applicable, substantially the same documentation required pursuant to Sections 4.01(b),(c),(d),(e) and (k) (in each case unless waived by the Administrative Agent in its reasonable discretion) and 6.14 and such other documents or agreements as the Administrative Agent may reasonably request, including without limitation, updated Schedules 1.01(c), 5.20(a), 5.20(b), 5.21(b), 5.21(d) and 5.21(f). Notwithstanding the first sentence of this clause (a), if upon the formation or Acquisition of an Subsidiary that is not a Material Subsidiary and a Restricted Subsidiary, the Guarantor Requirement, as defined in clause (c) below, would not be satisfied, Holdings shall cause such Subsidiary (or another Subsidiary) to deliver a Joinder Agreement and the other items described in this clause (a) in order to satisfy the Guarantor Requirement. (b) Notwithstanding the provisions of clause (a) above, if, as of the last day of any Measurement Period, any Subsidiary that has previously not qualified as a Material Subsidiary is no longer so disqualified or if, as of the last day of any Measurement Period or as of the date of formation or acquisition of a new Subsidiary, the Guarantor Requirement, as defined below, is not satisfied, Holdings shall include notice of such event in the Compliance Certificate delivered for such Measurement Period and deliver, or cause to be delivered, to the Administrative Agent as soon as practicable but in any event within thirty (30) days (or such longer period as may be approved by the Administrative Agent in its reasonable discretion) after the delivery of such Compliance Certificate, a Joinder Agreement for such Subsidiary and each other Subsidiary as may be necessary to cause the Guarantor Requirement to be satisfied. In connection with the foregoing, the Loan Parties shall deliver to the Administrative Agent, with respect to each new Guarantor to the extent applicable, substantially the same documentation required pursuant to Sections 4.01 4.01(b),(c),(d),(e) and (g) (in each case unless waived by the Administrative Agent in its reasonable discretion) and 6.14 and such other documents or agreements as the Administrative Agent may reasonably request, including without limitation, updated Schedules 1.01(c), 5.20(a), 5.20(b), 5.21(b) and 5.21(f). Notwithstanding anything In addition, upon the joinder of an additional Loan Party pursuant to this clause (b), Holdings shall deliver to the contrary Administrative Agent a certificate of a Responsible Officer setting forth a calculation on a Pro Forma Basis of the percentage of Consolidated EBITDA contributed by the Loan Parties (including the newly joined Loan Party), all determined as of the most recently ended Measurement Period as if such Loan Party had been joined on such date. (c) As used in this Section 6.13, “Guarantor Requirement” means, at any relevant time of determination, with respect to any Permitted Acquisition or other Investment permitted hereunder and at the Acquisition end of CEEeach Measurement Period, that the entities constituting Loan Parties shall cause LH Merger Sub 2 (i) represent (as assessed on the basis of the most recent Measurement Period for which financial statements have been delivered to the Administrative Agent pursuant to Section 6.01(a) or (xb) complete all planned mergers and name changes in a manner consistent with respect the definition of “Consolidated EBITDA” but limited to CEE no later the Loan Parties’ results of operations), but giving Pro Forma Effect to such Permitted Acquisition or other Investment, as applicable, and including Equity Interests in Subsidiaries, but excluding Investments that are eliminated in Consolidation) not less than fourteen (14) days after the Closing Date, (y) enter into a Joinder Agreement and deliver all other documentation required by this Section 6.13 no later than twenty (20) days after the Closing Date 90% of Consolidated EBITDA and (zii) deliver membership certificates evidencing have total assets (including Equity Interests in other Restricted Subsidiaries and excluding Investments that are eliminated in consolidation) of equal to or greater than 90% of the Pledged Equity total assets of CEE, Qualifying Control Agreements with respect to all deposit accounts Holdings and securities accounts of CEE and an opinion of counsel for the Loan Parties related thereto pursuant to, and in accordance with, Sections 6.14(a)(ii) and (d)(ii). [***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commissionits Restricted Subsidiaries on a Consolidated basis.

Appears in 1 contract

Samples: Credit Agreement (ONESPAWORLD HOLDINGS LTD)

Covenant to Guarantee Obligations. The Loan Parties will cause each of their Subsidiaries whether newly formed, after acquired or otherwise existing to promptly (and in any event within thirty (30) days after such Subsidiary is formed or acquired (or such longer period of time as agreed to by the Administrative Agent in its reasonable discretion)) become a Guarantor hereunder by way of execution of a Joinder Agreement; provided, however, no Subsidiary formed with the intent of becoming an Excluded Subsidiary that meets the requirements to be an Excluded Subsidiary shall be required to become a Guarantor. In connection therewith, the Loan Parties shall give notice to the Administrative Agent within thirty (30) days (or such longer period of time as agreed to by the Administrative Agent in its reasonable discretion) after creating a Subsidiary or acquiring the Equity Interests of any other Person. In connection with the foregoing, the Loan Parties shall deliver to the Administrative Agent, with respect to each new Guarantor to the extent applicable, substantially the same documentation required pursuant to Sections 4.01 and 6.14 and such other documents or agreements as the Administrative Agent may reasonably request. Notwithstanding anything to the contrary in this Section 6.13, with respect to the Acquisition of CEE, the Loan Parties shall cause LH Merger Sub 2 to (x) complete all planned mergers and name changes with respect to CEE no later than fourteen (14) days after the Closing Date, (y) enter into a Joinder Agreement and deliver all other documentation required by this Section 6.13 no later than twenty (20) days after the Closing Date and (z) deliver membership certificates evidencing the Pledged Equity of CEE, Qualifying Control Agreements with respect to all deposit accounts and securities accounts of CEE and an opinion of counsel for the Loan Parties related thereto pursuant to, and in accordance with, Sections 6.14(a)(ii) and (d)(ii). [***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission.

Appears in 1 contract

Samples: Credit Agreement (Sunrun Inc.)

Covenant to Guarantee Obligations. The Loan Parties will cause each of their Material Subsidiaries whether newly formed, after acquired or otherwise existing to promptly (and in any event within thirty (30) days after such Material Subsidiary is formed or acquired or becomes a Material Subsidiary (or such longer period of time as agreed to by the Administrative Agent in its reasonable discretion)) become a Guarantor hereunder by way of execution of a Joinder Agreement; provided, however, no Subsidiary formed with the intent of becoming an Excluded Subsidiary that meets the requirements to be an Excluded Foreign Subsidiary shall be required to become a GuarantorGuarantor to the extent such Guaranty would result in a material adverse tax consequence for the Borrower. In connection therewith, the Loan Parties shall give notice to the Administrative Agent within thirty not less than ten (3010) days prior to creating a Material Subsidiary (or such longer shorter period of time as agreed to by the Administrative Agent in its reasonable discretion) after creating a Subsidiary ), or acquiring the Equity Interests of any other PersonPerson (other than Investments permitted to be made under Section 7.03(a)). In connection with the foregoing, the Loan Parties shall deliver to the Administrative Agent, with respect to each new Guarantor to the extent applicable, substantially the same documentation required pursuant to Sections 4.01 4.01(b) – (g), (i) and 6.14 and such other documents or agreements as the Administrative Agent may reasonably request. Notwithstanding anything For the avoidance of doubt, no provision herein shall give the Parent Company the right to take any action prohibited by Section 7.19. If at any time all of the contrary Domestic Subsidiaries of the Borrower which are not Guarantors account for more than fifteen percent (15%) of the total assets or more than fifteen percent (15%) of the Consolidated EBITDA of the Borrower and its Subsidiaries in the aggregate, the Borrower shall designate one or more Domestic Subsidiaries as a Material Subsidiary (and cause such Subsidiary to become a Guarantor by delivering all of the documentation required in this Section 6.13, with respect to ) such that the Acquisition Domestic Subsidiaries of CEE, the Loan Parties shall cause LH Merger Sub 2 to Borrower which are not Guarantors account for fifteen percent (x15%) complete or less of the total assets and fifteen percent (15%) or less of the Consolidated EBITDA of the Borrower and its Subsidiaries in the aggregate at all planned mergers and name changes with respect to CEE no later than fourteen (14) days after times. As of the Closing Date, (y) enter into a Joinder Agreement and deliver all the Borrower does not have any Material Subsidiaries other documentation required by this Section 6.13 no later than twenty (20) days after the Closing Date and (z) deliver membership certificates evidencing the Pledged Equity of CEE, Qualifying Control Agreements with respect to all deposit accounts and securities accounts of CEE and an opinion of counsel for the Loan Parties related thereto pursuant to, and in accordance with, Sections 6.14(a)(ii) and (d)(ii). [***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange CommissionOpenFit.

Appears in 1 contract

Samples: Credit Agreement (Forest Road Acquisition Corp.)

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Covenant to Guarantee Obligations. The Loan Parties will cause (a) Cause the Parent and each of their its Domestic Subsidiaries (other than any Excluded Subsidiary), whether newly formed, after acquired or otherwise existing existing, to promptly (and in any event within thirty (30) days after such Subsidiary is formed or acquired (or such longer period of time as agreed to by the Administrative Agent in its reasonable discretion)) become a Guarantor hereunder by way of execution of a Joinder Agreement; provided, however, no Subsidiary formed with the intent of becoming an Excluded Subsidiary that meets the requirements to be an Excluded Subsidiary shall be required to become a Guarantor. In connection therewith, the Loan Parties shall give notice to the Administrative Agent within thirty (30) days (or such longer period of time as is agreed to by the Administrative Agent in its reasonable sole discretion)) after creating the acquisition or formation of such Subsidiary (it being understood that any Subsidiary ceasing to be an Excluded Subsidiary but remaining a Subsidiary shall be deemed to be the acquisition of a Subsidiary for purposes of this Section 6.13), to become a Guarantor hereunder by way of execution of a Joinder Agreement or acquiring such other joinder documentation as is acceptable to the Equity Interests of any other Person. In Administrative Agent in its sole discretion, and, in connection with the foregoing, the Loan Parties shall deliver to the Administrative Agent, with respect to each new Guarantor to the extent applicable, substantially the same documentation required pursuant to Sections 4.01 4.01(b) and (g) and Section 6.14 and, to the extent requested by the Administrative Agent, favorable opinions of counsel to such Person (which should cover, among other things, legality, binding effect and enforceability), all in form, content and scope reasonably satisfactory to the Administrative Agent. (b) Upon the Guarantee by any Subsidiary of any Indebtedness permitted by Section 7.02(b), concurrently with the provision of such Guarantee, cause such Person to become a Guarantor by way of execution of a Joinder Agreement or such other documents or agreements joinder documentation as is acceptable to the Administrative Agent may reasonably request. Notwithstanding anything in its sole discretion, and, in connection with the foregoing, deliver to the contrary in this Section 6.13Administrative Agent, with respect to such Person, to the Acquisition of CEEextent applicable, substantially the Loan Parties shall cause LH Merger Sub 2 to (x) complete all planned mergers and name changes with respect to CEE no later than fourteen (14) days after the Closing Date, (y) enter into a Joinder Agreement and deliver all other same documentation required by this Section 6.13 no later than twenty (20) days after the Closing Date and (z) deliver membership certificates evidencing the Pledged Equity of CEE, Qualifying Control Agreements with respect pursuant to all deposit accounts and securities accounts of CEE and an opinion of counsel for the Loan Parties related thereto pursuant to, and in accordance with, Sections 6.14(a)(ii4.01(b) and (d)(iig) and Section 6.14 and, to the extent requested by the Administrative Agent, favorable opinions of counsel to such Person (which should cover, among other things, legality, binding effect and enforceability). [***] Confidential treatment has been requested for , all in form, content and scope reasonably satisfactory to the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange CommissionAdministrative Agent.

Appears in 1 contract

Samples: Credit Agreement (Bob Evans Farms Inc)

Covenant to Guarantee Obligations. The Loan Parties will cause each of their Subsidiaries (other than any CFC) whether newly formed, created pursuant to a limited liability company division, after acquired or otherwise existing to promptly (and in any event within thirty sixty (3060) days after such Subsidiary is formed or acquired (or such longer period of time as agreed to by the Administrative Agent in its reasonable discretion)) become a Guarantor hereunder by way of execution of a Joinder Agreement; provided, however, no Subsidiary formed with the intent of becoming an Excluded Subsidiary that meets the requirements to be an Excluded Foreign Subsidiary shall be required to become a GuarantorGuarantor to the extent such Guaranty would result in a material adverse tax consequence for the Borrower. In connection therewith, the Loan Parties shall give notice to the Administrative Agent within thirty not less than ten (3010) days prior to creating (including, without limitation, pursuant to a limited liability company division) a Subsidiary (or such longer shorter period of time as agreed to by the Administrative Agent in its reasonable discretion) after creating a Subsidiary ), or acquiring the Equity Interests of any other PersonPerson if such Subsidiary or other Person is required to become a Guarantor hereunder. In connection with the foregoing, the Loan Parties shall deliver to the Administrative Agent, with respect to each new Guarantor to the extent applicable, substantially the same documentation required pursuant to Sections 4.01 4.01(b) – (e) and 6.14 and such other documents or agreements as the Administrative Agent may reasonably request, including without limitation, updated Schedules 1.01(c), 5.10, 5.12, 5.20(a), 5.20(b), 5.21(b), 5.21(c), 5.21(d)(i), 5.21(d)(ii), 5.21(e), 5.21(f), 5.21(g) and 5.21(h). Notwithstanding anything the foregoing, no Subsidiary shall be required to become a Guarantor hereunder so long as the contrary in this Section 6.13, with respect aggregate amount of Consolidated EBITDA attributable to the Acquisition of CEE, the Loan Parties shall cause LH Merger Sub 2 on a Consolidated basis equals or exceeds 80% of Consolidated EBITDA of the Borrower and its Subsidiaries for the most recently ended Measurement Period for which financial statements have been delivered pursuant to Section 6.01(a) or (x) complete all planned mergers and name changes with respect b), as applicable. If the aggregate amount of Consolidated EBITDA attributable to CEE no later than fourteen (14) days after the Closing Date, (y) enter into a Joinder Agreement and deliver all other documentation required by this Section 6.13 no later than twenty (20) days after the Closing Date and (z) deliver membership certificates evidencing the Pledged Equity of CEE, Qualifying Control Agreements with respect to all deposit accounts and securities accounts of CEE and an opinion of counsel for the Loan Parties related thereto pursuant toon a Consolidated basis is less than 80% of Consolidated EBITDA of the Borrower and its Subsidiaries, measured as of the end of any Measurement Period, then the Borrower shall give notice of such occurrence to the Administrative Agent concurrently with its delivery of a Compliance Certificate for such Measurement Period, and within sixty (60) days thereafter, the Borrower shall cause one or more of its Subsidiaries to become Guarantors in accordance with, Sections 6.14(a)(ii) and (d)(ii). [***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities foregoing paragraph such that after such Subsidiaries become Guarantors, the aggregate amount of Consolidated EBITDA attributable to the Loan Parties (including any such new Guarantors) on a Consolidated basis will, on a pro forma basis, equal or exceed 80% of Consolidated EBITDA of the Borrower and Exchange Commissionits Subsidiaries.

Appears in 1 contract

Samples: Credit Agreement (Evi Industries, Inc.)

Covenant to Guarantee Obligations. The Loan Parties will After the date hereof, upon (i) the formation or acquisition of any Material Domestic Subsidiary that is a First Tier Domestic Subsidiary or a Second Tier Domestic Subsidiary, or (ii) a Subsidiary becoming a Material Domestic Subsidiary that is either a First Tier Domestic Subsidiary or a Second Tier Domestic Subsidiary, at the Borrower’s expense: (A) within 10 Business Days after such formation or acquisition or, in case of clause (ii) above, within 10 days after the delivery of the financial statements required by Section 5.01(d) for the fiscal quarter during which such Subsidiary becomes a Material Domestic Subsidiary that is a First Tier Subsidiary or a Second Tier Subsidiary, cause each of their Subsidiaries whether newly formed, after acquired or otherwise existing such Material Domestic Subsidiary to promptly (execute and in any event within thirty (30) days after such Subsidiary is formed or acquired (or such longer period of time as agreed to by the Administrative Agent in its reasonable discretion)) become a Guarantor hereunder by way of execution of a Joinder Agreement; provided, however, no Subsidiary formed with the intent of becoming an Excluded Subsidiary that meets the requirements to be an Excluded Subsidiary shall be required to become a Guarantor. In connection therewith, the Loan Parties shall give notice deliver to the Administrative Agent within thirty (30) days (or such longer period of time as agreed a supplement to by the Guarantee, in form and substance reasonably satisfactory to the Administrative Agent in its reasonable discretion) after creating a Subsidiary or acquiring Agent, guaranteeing the Equity Interests of any other Person. In connection with the foregoing, Loan Parties’ Obligations under the Loan Parties shall Documents (each a “Guarantee Supplement”); (B) within 60 days after such request, formation or acquisition, deliver to the Administrative Agent, with respect to each new Guarantor upon the request of the Administrative Agent in its sole discretion, a signed copy of a favorable opinion, addressed to the extent applicableAdministrative Agent and the Banks, substantially of counsel for the same documentation required pursuant Loan Parties reasonably acceptable to Sections 4.01 the Administrative Agent as to (1) such Guarantee Supplement being the legal, valid and 6.14 binding obligations of each additional Subsidiary Guarantor party thereto enforceable in accordance with its terms and (2) such other documents or agreements matters as the Administrative Agent may reasonably request; and (C) at any time and from time to time, promptly execute and deliver, and cause each Loan Party and each such additional Subsidiary Guarantor to execute and deliver, any and all further instruments and documents and take, and cause each Loan Party and each such additional Subsidiary Guarantor to take, all such other action as the Administrative Agent may reasonably deem necessary or desirable in obtaining the full benefits of the Guarantee. Notwithstanding anything In addition, the Borrower (i) shall comply with the requirements set forth in the definition of “Subsidiary Guarantor” and (ii) may cause any other Subsidiary to become a Subsidiary Guarantor by delivering a Guarantee Supplement to the contrary in this Section 6.13Guarantee and within 60 days thereafter, with respect deliver to the Acquisition Administrative Agent, upon the request of CEEthe Administrative Agent in its sole discretion, the Loan Parties shall cause LH Merger Sub 2 to (x) complete all planned mergers and name changes with respect to CEE no later than fourteen (14) days after the Closing Date, (y) enter into a Joinder Agreement and deliver all other documentation required by this Section 6.13 no later than twenty (20) days after the Closing Date and (z) deliver membership certificates evidencing the Pledged Equity of CEE, Qualifying Control Agreements with respect to all deposit accounts and securities accounts of CEE and an opinion of counsel for the Loan Parties related Parties, addressed to the Administrative Agent and the Banks and reasonably acceptable to the Administrative Agent as to (A) such Guarantee Supplement being the legal, valid and binding obligations of each additional Subsidiary Guarantor party thereto pursuant to, and enforceable in accordance with, Sections 6.14(a)(ii) with its terms and (d)(ii). [***] Confidential treatment has been requested for B) such other matters as the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange CommissionAdministrative Agent may reasonably request.

Appears in 1 contract

Samples: Revolving Credit Agreement (Kbr, Inc.)

Covenant to Guarantee Obligations. The Loan Parties will cause each of their Subsidiaries whether newly formed, after acquired or otherwise existing to promptly (and in any event within Within thirty (30) days after such Subsidiary is formed or acquired (or such longer period of time as is agreed to by the Administrative Agent in its reasonable sole discretion) after the acquisition or formation of any Domestic Subsidiary (it being understood that any Subsidiary ceasing to be an Excluded Subsidiary but remaining a Subsidiary shall be deemed to be the acquisition of a Subsidiary for purposes of this Section 6.13)) , cause such Person to become a Guarantor hereunder by way of execution of a Joinder Agreement; provided, however, no Subsidiary formed with the intent of becoming an Excluded Subsidiary that meets the requirements to be an Excluded Subsidiary shall be required to become a Guarantor. In connection therewith, the Loan Parties shall give notice Guarantor (subject to the Administrative Agent within thirty (30) days (or such longer period last sentence of time as agreed to by the Administrative Agent in its reasonable discretion) after creating a Subsidiary or acquiring the Equity Interests of any other Personthis Section 6.13). In connection with the foregoing, the Loan Parties shall deliver to the Administrative Agent, with respect to each new Guarantor to the extent applicable, substantially the same documentation required pursuant to Sections 4.01 4.01(b) and (g) and Section 6.14 (including applicable Mortgages and Mortgaged Property Security Documents) and favorable opinions of counsel to such Person (which should cover, among other documents things, the legality, binding effect and enforceability), all in form, content and scope satisfactory to the Administrative Agent. It is understood and agreed that, to the extent that, as of the last day of any Measurement Period for which financial statements were required to be delivered pursuant to Section 6.01(a) or agreements (b), the Consolidated EBITDA for such Measurement Period attributable to all Loan Parties in the aggregate does not equal or exceed seventy percent (70%) of Consolidated EBITDA for such Measurement Period, the Company shall within thirty (30) days (or such longer period of time as is agreed to by the Administrative Agent may reasonably request. Notwithstanding anything in its sole discretion) cause Subsidiaries that would otherwise be classified as Excluded Subsidiaries to become Guarantors in accordance with the foregoing provisions of Section 6.13 to the contrary in this Section 6.13, with respect extent necessary so that the Consolidated EBITDA that is attributable only to the Acquisition of CEE, the Loan Parties shall cause LH Merger Sub 2 is equal to or exceeds seventy percent (x70%) complete all planned mergers and name changes with respect to CEE no later than fourteen (14) days after the Closing Date, (y) enter into a Joinder Agreement and deliver all other documentation required by this Section 6.13 no later than twenty (20) days after the Closing Date and (z) deliver membership certificates evidencing the Pledged Equity of CEE, Qualifying Control Agreements with respect to all deposit accounts and securities accounts of CEE and an opinion of counsel Consolidated EBITDA for the Loan Parties related thereto pursuant to, and in accordance with, Sections 6.14(a)(ii) and (d)(ii). [***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commissionsuch Measurement Period.

Appears in 1 contract

Samples: Credit Agreement (Amedisys Inc)

Covenant to Guarantee Obligations. (a) The Loan Parties will Borrower shall cause each direct or indirect Domestic Subsidiary (other than a Receivables Subsidiary, a FSHCO or a Subsidiary of their Subsidiaries whether newly formed, a CFC or FSHCO) that Guarantees any Significant Guaranteed Indebtedness to become a Subsidiary Guarantor hereunder within 10 Business Days after acquired or otherwise existing to promptly (and in any event within thirty (30) days after the date on which such Indebtedness of the Borrower has been Guaranteed by such Subsidiary is formed or acquired (or provided that, for the avoidance of doubt if such longer period Domestic Subsidiary would be released from its Guarantee of time as agreed to by the Administrative Agent in its reasonable discretion)) become such Significant Guaranteed Indebtedness substantially concurrently with such Subsidiary not being a Subsidiary Guarantor hereunder by way of execution of a Joinder Agreement; providedhereunder, however, no then such Subsidiary formed with the intent of becoming an Excluded Subsidiary that meets the requirements to be an Excluded Subsidiary Guarantor shall not be required to become a Guarantor. In connection therewith, the Loan Parties shall give notice Subsidiary Guarantor hereunder pursuant to this Section 6.12(a)) by: (i) causing such Subsidiary to duly execute and deliver to the Administrative Agent within thirty (30) days (or such longer period of time as agreed to by the Administrative Agent in its reasonable discretion) after creating a Subsidiary Guaranty or acquiring Subsidiary Guaranty Supplement pursuant to Section 19 of a Subsidiary Guaranty, guaranteeing the Equity Interests of any other Person. In connection with the foregoing, Obligations under the Loan Parties shall Documents, and (ii) causing such Subsidiary to deliver to the Administrative Agent, with respect upon the reasonable request of the Administrative Agent, a signed copy of a customary opinion, addressed to each new Guarantor to the extent applicable, substantially the same documentation required pursuant to Sections 4.01 and 6.14 and such other documents or agreements as the Administrative Agent may reasonably request. Notwithstanding anything to and the contrary in this Section 6.13Lender Parties, with respect to the Acquisition of CEE, the Loan Parties shall cause LH Merger Sub 2 to (x) complete all planned mergers and name changes with respect to CEE no later than fourteen (14) days after the Closing Date, (y) enter into a Joinder Agreement and deliver all other documentation required by this Section 6.13 no later than twenty (20) days after the Closing Date and (z) deliver membership certificates evidencing the Pledged Equity of CEE, Qualifying Control Agreements with respect to all deposit accounts and securities accounts of CEE and an opinion of counsel for the Loan Parties related thereto pursuant toacceptable to the Administrative Agent. (b) In addition to the other requirements of this Section 6.12, and the Borrower from time to time may cause one or more of its direct or indirect Subsidiaries to become a Subsidiary Guarantor by causing such Subsidiary to deliver the documents of the types referred to in accordance with, Sections 6.14(a)(iiclause (a) and (d)(ii). [***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commissionabove.

Appears in 1 contract

Samples: Revolving Credit Agreement (Mattel Inc /De/)

Covenant to Guarantee Obligations. The Loan Parties will cause each of their Subsidiaries organized in a Collateral Jurisdiction (to the extent such Subsidiaries are not BrightLoop Entities, Immaterial Subsidiaries or Captive Insurance Subsidiaries), whether newly formed, after after-acquired or otherwise existing (including any Subsidiary that previously was an Immaterial Subsidiary to the extent required pursuant to Section 7.16), to promptly (and in any event within thirty (30) days after such Subsidiary is formed or acquired or ceases to be an Immaterial Subsidiary in accordance with Section 7.16 (or such longer period of time as agreed to by the Administrative Agent in its reasonable discretionPermitted Discretion)) become a Guarantor hereunder by way of execution of a Joinder Agreement; providedAgreement or such other documents, however, no Subsidiary formed instruments and agreements as the Administrative Agent reasonably may deem necessary or appropriate with the intent of becoming an Excluded Subsidiary that meets the requirements respect to joinder documents to be an Excluded Subsidiary shall be required to become a Guarantorgoverned by the law of the applicable Collateral Jurisdiction. In connection therewith, the Loan Parties shall give notice to the Administrative Agent within not less than thirty (30) days (or such longer shorter period of time as agreed to by the Administrative Agent in its reasonable discretionPermitted Discretion) after prior to creating a Subsidiary, causing any Subsidiary that previously was an Immaterial Subsidiary in accordance with Section 7.16, or acquiring the Equity Interests of any other Person. In connection with the foregoing, the Loan Parties shall deliver to the Administrative Agent, with respect to each new Guarantor to the extent applicable, substantially the same documentation required pursuant to Sections 4.01 and 6.14 and such other documents or agreements as the Administrative Agent may reasonably request. Notwithstanding anything to the contrary in this Section 6.13, with respect to the Acquisition of CEE, the Loan Parties shall cause LH Merger Sub 2 to (x) complete all planned mergers and name changes with respect to CEE no later than fourteen (14) days after the Closing Date4.01(b), (y) enter into a Joinder Agreement and deliver all other documentation required by this Section 6.13 no later than twenty d), (20) days after the Closing Date and f), (z) deliver membership certificates evidencing the Pledged Equity of CEEg), Qualifying Control Agreements with respect to all deposit accounts and securities accounts of CEE and an opinion of counsel for the Loan Parties related thereto pursuant to(h), and in accordance with, Sections 6.14(a)(ii) and (d)(iin). [***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission.

Appears in 1 contract

Samples: Credit Agreement (Babcock & Wilcox Enterprises, Inc.)

Covenant to Guarantee Obligations. The Loan Parties will cause each of their Subsidiaries whether newly formed, after acquired or otherwise existing to promptly (and in any event within thirty (30) days after such Subsidiary is formed or acquired (or such longer period of time as agreed to by the Administrative Agent Lender in its reasonable discretion)) become a Guarantor hereunder by way of execution of a Joinder Agreement; provided, however, (i) no Foreign Subsidiary disclosed on the Schedules provided in connection with this Agreement and existing on the Closing Date other than those listed in the signature pages hereof under the heading “Guarantor” shall be required to become a Guarantor unless an Event of Default has occurred and is continuing (and then, only upon the reasonable request of the Lender), (ii) no Subsidiary formed that is a CFC shall be required to become a Guarantor hereunder with respect to, or otherwise guarantee, any Obligations or as otherwise limited in Section 9.01, (biii) without limiting the intent foregoing, neither Astronova Portugal nor MTEX shall be required to become a Guarantor hereunder with respect to, or otherwise guarantee, any Obligations unless an Event of becoming an Excluded Subsidiary that meets Default has occurred and is continuing (and then, only upon the requirements to be an Excluded reasonable request of the Lender) and (iiiiv) no Immaterial Subsidiary shall be required to become a GuarantorGuarantor unless an Event of Default has occurred and is continuing (and then, only upon the reasonable request of the Lender). In connection therewith, the Loan Parties shall give notice to the Administrative Agent within thirty Lender not less than ten (3010) days prior to creating a Subsidiary (or such longer shorter period of time as agreed to by the Administrative Agent Lender in its reasonable discretion) after creating a Subsidiary ), or acquiring the Equity Interests of any other Person. In connection with the foregoing, the Loan Parties shall deliver to the Administrative AgentLender, with respect to each new Guarantor to the extent applicable, substantially the same documentation required pursuant to Sections 4.01 4.01(b) and (e) and 6.14 and such other documents or agreements as the Administrative Agent Lender may reasonably request. Notwithstanding anything to the contrary in this Section 6.13, with respect to the Acquisition of CEEincluding without limitation, the Loan Parties shall cause LH Merger Sub 2 to (x) complete all planned mergers and name changes with respect to CEE no later than fourteen (14) days after the Closing Dateupdated Schedules 1.01(b), (y) enter into a Joinder Agreement and deliver all other documentation required by this Section 6.13 no later than twenty (20) days after the Closing Date and (z) deliver membership certificates evidencing the Pledged Equity of CEE5.10, Qualifying Control Agreements with respect to all deposit accounts and securities accounts of CEE and an opinion of counsel for the Loan Parties related thereto pursuant to5.19(a), 5.19(b), 5.20(b), 5.20(c), 5.20(d)(i), 5.20(d)(ii), 5.20(e), 5.20(f), and in accordance with, Sections 6.14(a)(ii) and (d)(ii5.20(g). [***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission.

Appears in 1 contract

Samples: Credit Agreement (AstroNova, Inc.)

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