Common use of Designation of Subsidiary Guarantors Clause in Contracts

Designation of Subsidiary Guarantors. Each Subsidiary of the Borrower incorporated or organized in the United States of America, whether now in existence or hereafter acquired, that owns Receivables and Inventory (priced at the lower of cost or market) shall be automatically designated as a Subsidiary Guarantor by the Lenders. Any Subsidiary designated as a Subsidiary Guarantor shall continue as a Subsidiary Guarantor until released in writing by all Lenders.

Designation of Subsidiary Guarantors. Each Subsidiary of the ------------------------------------ Borrower incorporated or organized in the United States of AmericaAmerica or in a state thereof, whether now in existence or hereafter acquired, that owns Receivables and Inventory (priced at the lower of cost or market) acquired shall be automatically designated as a Subsidiary Guarantor by the Lenders. Any Subsidiary designated as a Subsidiary Guarantor shall continue as a Subsidiary Guarantor until released in writing by all of the Lenders.