Credit Support Guaranties Sample Clauses
The Credit Support Guaranties clause establishes that a third party, typically affiliated with one of the contracting parties, guarantees the performance of that party’s obligations under the agreement. In practice, this means that if the primary party fails to meet its financial or contractual commitments, the guarantor is legally required to fulfill those obligations, providing additional assurance to the counterparty. This clause is essential for mitigating credit risk, as it ensures that the obligations will be met even if the original party defaults, thereby enhancing the overall security of the transaction.
Credit Support Guaranties. 13.4.1 As security for the prompt payment and performance in full when due of Aron’s obligations under this Agreement, ▇▇▇▇ shall cause its Guarantor to (i) deliver to PRC prior to the Commencement Date its Guaranty in form and substance reasonably acceptable to PRC and (ii) maintain such Guaranty in effect for the Term hereof.
13.4.2 As security for the prompt payment and performance in full when due of PRC’s obligations under this Agreement, PRC shall cause its Guarantor to (i) deliver to ▇▇▇▇ prior to the Commencement Date its Guaranty in form and substance reasonably acceptable to ▇▇▇▇ and (ii) maintain such Guaranty in effect for the Term hereof.
Credit Support Guaranties. 13.4.1 As security for the prompt payment and performance in full when due of Aron’s obligations under this Agreement, ▇▇▇▇ shall cause its Guarantor to (i) deliver to the Transaction Entities on or prior to the Third Restatement Effective Date its Guaranty in form and substance reasonably acceptable to the Transaction Entities and (ii) maintain such Guaranty in effect for the Term hereof.
13.4.2 As security for the prompt payment and performance in full when due of Transaction Entities’ obligations under this Agreement, the Transaction Entities shall cause their Guarantor to (i) deliver to ▇▇▇▇ on or prior to the Third Restatement Effective Date their Guaranty in form and substance reasonably acceptable to ▇▇▇▇ and (ii) maintain such Guaranty in effect for the Term hereof.
13.4.3 As security for the prompt payment and performance in full when due of Transaction Entities’ obligations under this Agreement, the Transaction Entities shall cause the Specified Subsidiaries to (i) deliver to ▇▇▇▇ on or prior to the Third Restatement Effective Date the Specified Agreement in form and substance reasonably acceptable to ▇▇▇▇ and (ii) except for releases expressly provided in such Specified Agreement or elsewhere herein, maintain the Specified Agreement in effect for the Term hereof.
Credit Support Guaranties. 13.4.1 As security for the prompt payment and performance in full when due of Aron’s obligations under this Agreement, ▇▇▇▇ shall cause its Guarantor to (i) deliver to PRC prior to the Commencement Date its ny-1739899 Guaranty in form and substance reasonably acceptable to PRC and (ii) maintain such Guaranty in effect for the Term hereof.
13.4.2 As security for the prompt payment and performance in full when due of PRC’s obligations under this Agreement, PRC shall cause its Guarantor to (i) deliver to ▇▇▇▇ prior to the Commencement Date its Guaranty in form and substance reasonably acceptable to ▇▇▇▇ and (ii) maintain such Guaranty in effect for the Term hereof.