Common use of Creation of Indebtedness; Guarantees Clause in Contracts

Creation of Indebtedness; Guarantees. The Seller shall not create, incur, assume or suffer to exist any indebtedness other than indebtedness permitted under the Related Documents. The Seller shall incur no additional borrowed money indebtedness secured by the Trust Property other than the Notes. The Seller shall not assume guarantee, endorse or otherwise be or become directly or contingently liable for the obligations of any Person by, among other things, agreeing to purchase any obligation of another Person, agreeing to advance funds to such Person or causing or assisting such Person to maintain any amount of capital.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (Paragon Auto Receivables Corp), Sale and Servicing Agreement (Paragon Auto Receivables Corp)

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Creation of Indebtedness; Guarantees. The Seller shall not create, incur, assume or suffer to exist any indebtedness other than indebtedness permitted under the Related Documents. The Seller shall incur no additional borrowed money indebtedness secured by the Trust Property other than the NotesCertificates. The Seller shall not assume guarantee, endorse or otherwise be or become directly or contingently liable for the obligations of any Person by, among other things, agreeing to purchase any obligation of another Person, agreeing to advance funds to such Person or causing or assisting such Person to maintain any amount of capital.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Paragon Auto Receivables Corp)

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Creation of Indebtedness; Guarantees. The Seller shall not create, incur, assume or suffer to exist any indebtedness other than indebtedness permitted under the Related Documents. The Seller shall incur no additional borrowed money indebtedness secured guaranteed or approved in writing by the Trust Property Financial Security other than the NotesTransaction Documents. The Without the prior written consent in writing of Financial Security, the Seller shall not assume guarantee, endorse or otherwise be or become directly or contingently liable for the obligations of any Person by, among other things, agreeing to purchase any obligation of another Person, agreeing to advance funds to such Person or causing or assisting such Person to maintain any amount of capital.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Americredit Corp)

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