Common use of Designation of Guarantors Clause in Contracts

Designation of Guarantors. Notwithstanding anything to the contrary contained herein, the Administrative Borrower may, so long as a Cash Dominion Period does not exist, at any time and from time to time redesignate any Borrower hereunder as a Guarantor (any such redesignated entity, a “Redesignated Guarantor”) upon delivery of a certificate of a Responsible Officer of the Administrative Borrower to the Administrative Agent (a) attaching an updated Borrowing Base Certificate reflecting the removal of any Accounts or Inventory of such Redesignated Guarantor from the Aggregate Borrowing Base; (b) certifying that after giving effect to the updated Borrowing Base Certificate, (i) the sum of the total Revolving Exposures does not exceed the lesser of (A) the total Revolving Commitments and (B) the Aggregate Borrowing Base then in effect; (ii) a Cash Dominion Period will not commence as a result of such redesignation; and (iii) immediately prior to such redesignation, the Borrower to be redesignated does not own any bank account, deposit account, security account or other investment account subject to, or required to be subject to, a Control Agreement.

Designation of Guarantors. Notwithstanding Not withstanding anything to the contrary contained herein, the Administrative Borrower may, so long as a Cash Dominion Period does not exist, at any time and from time to time redesignate any Borrower hereunder as a Guarantor (any such redesignated entity, a “Redesignated Guarantor”) upon delivery of a certificate of a Responsible Officer of the Administrative Borrower to the Administrative Agent (a) attaching an updated Borrowing Base Certificate reflecting the removal of any Accounts or Inventory of such Redesignated Guarantor from the Aggregate Borrowing Base; (b) certifying that after giving effect to the updated Borrowing Base Certificate, (i) the sum of the total Revolving Exposures does not exceed the lesser of (A) the total Revolving Commitments and (B) the Aggregate Borrowing Base then in effect; (ii) a Cash Dominion Period will not commence as a result of such redesignation; and (iii) immediately prior to such redesignation, the Borrower to be redesignated does not own any bank account, deposit account, security account or other investment account subject to, or required to be subject to, a Control Agreement.. [Signature Pages Follow]

Designation of Guarantors. Notwithstanding anything to the contrary contained herein, the Administrative Borrower may, so long as a Cash Dominion Period does not exist, at any time and from time to time redesignate any Borrower hereunder as a Guarantor (any such redesignated entity, a “Redesignated Guarantor”) upon delivery of a certificate of a Responsible Officer of the Administrative Borrower to the Administrative Agent (a) attaching an updated Borrowing Base Certificate reflecting the removal of any Accounts or Inventory of such Redesignated Guarantor from the Aggregate Borrowing Base; (b) certifying that after giving effect to the updated Borrowing Base Certificate, (i) the sum of the total Revolving Exposures does not exceed the lesser of (A) the total Revolving Commitments and (B) the Aggregate Borrowing Base then in effect; (ii) a Cash Dominion Period will not commence as a result of such redesignation; and (iii) immediately prior to such redesignation, the Borrower to be redesignated does not own any bank account, deposit account, security account or other investment account subject to, or required to be subject to, a Control Agreement.. 199