Common use of Covenants of Each Guarantor Clause in Contracts

Covenants of Each Guarantor. Each Guarantor covenants and agrees with the Collateral Agent and the other Secured Parties that, from and after the date of this Agreement until the earlier to occur of (i) the date upon which the Loans, and all other Obligations then due and owing, shall have been paid in full in cash or (ii) as to any Guarantor, the date upon which all the Capital Stock of such Guarantor shall have been sold or otherwise disposed of (to a Person other than the Borrower or a Subsidiary of the Borrower) in accordance with the terms of the Credit Agreement, such Guarantor shall take, or shall refrain from taking, as the case may be, each action that is necessary to be taken or not taken, as the case may be, so that no Default or Event of Default is caused by the failure to take such action or to refrain from taking such action by such Guarantor or any of its Subsidiaries.

Appears in 2 contracts

Samples: Credit Agreement (Nci Building Systems Inc), Guarantee and Collateral Agreement (Nci Building Systems Inc)

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Covenants of Each Guarantor. Each Guarantor covenants and agrees --------------------------- with the Collateral Administrative Agent and the other Secured Parties that, from and after the date of this Agreement until the earlier to occur of (i) the date upon which the Loans, any Reimbursement Obligations, and all other Obligations then due and owing, shall have been paid in full in cash full, no Letter of Credit shall be outstanding and the Commitments shall have terminated, or (ii) as to any Guarantor, Guarantor the date upon which all the Capital Stock of such Guarantor shall have been sold or otherwise disposed of (to a Person other than the Borrower or a Subsidiary of the Borrower) in accordance with the terms of the Credit Agreement, such Guarantor shall take, or shall refrain from taking, as the case may be, each action that is necessary to be taken or not taken, as the case may be, so that no Default or Event of Default is caused by the failure to take such action or to refrain from taking such action by such Guarantor or any of its Subsidiaries.

Appears in 1 contract

Samples: Guarantee and Collateral Agreement (Dynatech Corp)

Covenants of Each Guarantor. Each Guarantor covenants and agrees with the Collateral Administrative Agent and the other Secured Parties that, from and after the date of this Agreement until the earlier to occur of (i) the date upon which the Loans, any Reimbursement Obligations, and all other Obligations then due and owing, shall have been paid in full in cash full, no Letter of Credit shall be outstanding and the Commitments shall have terminated, or (ii) as to any Guarantor, Guarantor the date upon which all the Capital Stock of such Guarantor shall have been sold or otherwise disposed of (to a Person other than the Borrower or a Subsidiary of the Borrower) in accordance with the terms of the Credit Agreement, such Guarantor shall take, or shall refrain from taking, as the case may be, each action that is necessary to be taken or not taken, as the case may be, so that no Default or Event of Default is caused by the failure to take such action or to refrain from taking such action by such Guarantor or any of its Subsidiaries.

Appears in 1 contract

Samples: Guarantee and Collateral Agreement (Dynatech Corp)

Covenants of Each Guarantor. Each Guarantor covenants and agrees with the Collateral Administrative Agent and the other Secured Parties that, from and after the date of this Agreement until the earlier to occur of the date upon which (i) the date upon which the Loans, any Reimbursement Obligations, and all other Obligations then due and owing, owing shall have been paid in full in cash or cash, no Letter of Credit shall be outstanding and the Commitments shall have terminated and (ii) as to any Guarantor, the date upon which all the Capital Stock of such Guarantor shall have been sold or otherwise disposed of (to a Person other than the Borrower or a Subsidiary of the Borrower) in accordance with the terms of the Credit Agreement, such Guarantor shall take, or shall refrain from taking, as the case may be, each action that is necessary to be taken or not taken, as the case may be, so that no Default or Event of Default is caused by the failure to take such action or to refrain from taking such action by such Guarantor or any of its Subsidiaries.

Appears in 1 contract

Samples: Guarantee and Collateral Agreement (Us Office Products Co)

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Covenants of Each Guarantor. Each Guarantor covenants and agrees with the Collateral Administrative Agent and the other Secured Parties that, from and after the date of this Agreement until the earlier to occur of (i) the date upon which the Loans, any Reimbursement Obligations, and all other Obligations then due and owing, owing shall have been paid in full in cash cash, no Letter of Credit shall be outstanding and the Commitments shall have terminated, or (ii) as to any Guarantor, Guarantor the date upon which all the Capital Stock of such Guarantor shall have been sold or otherwise disposed of (to a Person other than the Borrower or a Subsidiary of the Borrower) in accordance with the terms of the Credit Agreement, such Guarantor shall take, or shall refrain from taking, as the case may be, each action that is necessary to be taken or not taken, as the case may be, so that no Default or Event of Default is caused by the failure to take such action or to refrain from taking such action by such Guarantor or any of its Subsidiaries.

Appears in 1 contract

Samples: Guarantee and Collateral Agreement (Relocation Management Systems Inc)

Covenants of Each Guarantor. Each Guarantor covenants and agrees with the Collateral Administrative Agent and the other Relevant Secured Parties that, from and after the date of this Agreement until the earlier to occur of (i) the date upon which the Loans, any Reimbursement Obligations, and all other Obligations then due and owing, shall have been paid in full in cash full, no Letter of Credit shall be outstanding and the Commitments shall have terminated or (ii) as to any Guarantor, the date upon which all the Capital Stock of such Guarantor shall have been sold or otherwise disposed of (to a Person other than the Borrower or a Subsidiary of the Borrower) in accordance with the terms of the Credit Agreement, such Guarantor shall take, or shall refrain from taking, as the case may be, each action that is necessary to be taken or not taken, as the case may be, so that no Default or Event of Default is caused by the failure to take such action or to refrain from taking such action by such Guarantor or any of its Subsidiaries.

Appears in 1 contract

Samples: Guarantee and Collateral Agreement (Graphic Packaging Corp)

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