Existing Subsidiary Letters of Credit Guaranty. Notwithstanding that each Existing Subsidiary Letter of Credit is in support of obligations of, and is for the account of, a Subsidiary, the Borrower shall be obligated to reimburse the Issuing Bank hereunder for any and all drawings under such Existing Subsidiary Letter of Credit in accordance with Section 2.05(h). Notwithstanding the foregoing, to the extent that the Borrower is not treated as the primary obligor for the reimbursement of such Existing Subsidiary Letter of Credit pursuant to the relevant documentation for such Existing Subsidiary Letter of Credit, the Debtor Relief Laws, any other applicable Laws or otherwise, the Borrower hereby absolutely, unconditionally and irrevocably guarantees (this “Existing Subsidiary Letters of Credit Guaranty”) the punctual payment and performance when due, whether at stated maturity, by acceleration or otherwise, of the obligations of the Existing LC Subsidiaries under the Existing Subsidiary Letters of Credit, whether for principal, interest (including interest accruing or becoming owing both prior to and subsequent to the commencement of any proceeding against or with respect to the Existing LC Subsidiaries under any Debtor Relief Laws, fees, commissions, expenses (including reasonable attorneys’ fees and expenses) or otherwise (all such obligations being the “Existing Subsidiary Letters of Credit Guaranteed Obligations”). The Borrower agrees to pay any and all expenses incurred by each Lender, the Issuing Bank and the Administrative Agent in enforcing this Existing Subsidiary Letters of Credit Guaranty against the Borrower. This Existing Subsidiary Letters of Credit Guaranty is an absolute, unconditional, present and continuing guaranty of payment and not of collectability and is in no way conditioned upon any attempt to collect from the Existing LC Subsidiaries or any other action, occurrence or circumstance whatsoever. The Borrower agrees that, to the maximum extent permitted by applicable law, the Existing Subsidiary Letters of Credit Guaranteed Obligations may be extended or renewed, and indebtedness thereunder repaid and reborrowed in whole or in part, without notice to or assent by the Borrower, and that it will remain bound upon this Existing Subsidiary Letters of Credit Guaranty notwithstanding any extension, renewal or other alteration of any Existing Subsidiary Letters of Credit Guaranteed Obligations, or any repayment and reborrowing of Loans. To the maximum extent permitted by applicable law, except as otherwise expressly provided in this Agreement or any other Loan Document to which the Borrower is a party, the obligations of the Borrower under this Existing Subsidiary Letters of Credit Guaranty shall be absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms hereof under any circumstances whatsoever. The Borrower hereby waives promptness, diligence, notice of acceptance and any other notice with respect to any of the Existing Subsidiary Letters of Credit Guaranteed Obligations and this Existing Subsidiary Letters of Credit Guaranty and waives presentment, demand for payment, notice of intent to accelerate, notice of dishonor or nonpayment and any requirement that the Administrative Agent or any Lender institute suit, collection proceedings or take any other action to collect the Existing Subsidiary Letters of Credit Guaranteed Obligations, including any requirement that the Administrative Agent or any Lender exhaust any right or take any action against the Existing LC Subsidiaries or any other Person or any collateral (it being the intention of the Administrative Agent, the Lenders and the Borrower that this Existing Subsidiary Letters of Credit Guaranty is to be a guaranty of payment and not of collection). It shall not be necessary for the Administrative Agent or any Lender, in order to enforce any payment by the Borrower hereunder, to institute suit or exhaust its rights and remedies against the Existing LC Subsidiaries or any other Person, including others liable to pay any Existing Subsidiary Letters of Credit Guaranteed Obligations, or to enforce its rights against any security ever given to secure payment thereof. The Borrower hereby expressly waives to the maximum extent permitted by applicable law each and every right to which it may be entitled by virtue of the suretyship laws of the State of New York or any other state in which it may be located, including any and all rights it may have pursuant to Rule 31, Texas Rules of Civil Procedure, Section 17.001 of the Texas Civil Practice and Remedies Code and Chapter 34 of the Texas Business and Commerce Code. 37 Revolving Credit Facility
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Samples: First Amendment (Kinder Morgan, Inc.), Revolving Credit Agreement (Kinder Morgan, Inc.)
Existing Subsidiary Letters of Credit Guaranty. Notwithstanding that each Existing Subsidiary Letter of Credit is in support of obligations of, and is for the account of, a Subsidiary, 39 Revolving Credit Facility the Borrower shall be obligated to reimburse the Issuing Bank hereunder for any and all drawings under such Existing Subsidiary Letter of Credit in accordance with Section 2.05(h). Notwithstanding the foregoing, to the extent that the Borrower is not treated as the primary obligor for the reimbursement of such Existing Subsidiary Letter of Credit pursuant to the relevant documentation for such Existing Subsidiary Letter of Credit, the Debtor Relief Laws, any other applicable Laws or otherwise, the Borrower hereby absolutely, unconditionally and irrevocably guarantees (this “Existing Subsidiary Letters of Credit Guaranty”) the punctual payment and performance when due, whether at stated maturity, by acceleration or otherwise, of the obligations of the Existing LC Subsidiaries under the Existing Subsidiary Letters of Credit, whether for principal, interest (including interest accruing or becoming owing both prior to and subsequent to the commencement of any proceeding against or with respect to the Existing LC Subsidiaries under any Debtor Relief Laws, fees, commissions, expenses (including reasonable attorneys’ fees and expenses) or otherwise (all such obligations being the “Existing Subsidiary Letters of Credit Guaranteed Obligations”). The Borrower agrees to pay any and all expenses incurred by each Lender, the Issuing Bank and the Administrative Agent in enforcing this Existing Subsidiary Letters of Credit Guaranty against the Borrower. This Existing Subsidiary Letters of Credit Guaranty is an absolute, unconditional, present and continuing guaranty of payment and not of collectability and is in no way conditioned upon any attempt to collect from the Existing LC Subsidiaries or any other action, occurrence or circumstance whatsoever. The Borrower agrees that, to the maximum extent permitted by applicable law, the Existing Subsidiary Letters of Credit Guaranteed Obligations may be extended or renewed, and indebtedness thereunder repaid and reborrowed in whole or in part, without notice to or assent by the Borrower, and that it will remain bound upon this Existing Subsidiary Letters of Credit Guaranty notwithstanding any extension, renewal or other alteration of any Existing Subsidiary Letters of Credit Guaranteed Obligations, or any repayment and reborrowing of Loans. To the maximum extent permitted by applicable law, except as otherwise expressly provided in this Agreement or any other Loan Document to which the Borrower is a party, the obligations of the Borrower under this Existing Subsidiary Letters of Credit Guaranty shall be absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms hereof under any circumstances whatsoever. The Borrower hereby waives promptness, diligence, notice of acceptance and any other notice with respect to any of the Existing Subsidiary Letters of Credit Guaranteed Obligations and this Existing Subsidiary Letters of Credit Guaranty and waives presentment, demand for payment, notice of intent to accelerate, notice of dishonor or nonpayment and any requirement that the Administrative Agent or any Lender institute suit, collection proceedings or take any other action to collect the Existing Subsidiary Letters of Credit Guaranteed Obligations, including any requirement that the Administrative Agent or any Lender exhaust any right or take any action against the Existing LC Subsidiaries or any other Person or any collateral (it being the intention of the Administrative Agent, the Lenders and the Borrower that this Existing Subsidiary Letters of Credit Guaranty is to be a guaranty of payment and not of collection). It shall not be necessary for the Administrative Agent or any Lender, in order to enforce any payment by the Borrower hereunder, to institute suit or exhaust its rights and remedies against the Existing LC Subsidiaries or any other Person, including others liable to pay any Existing Subsidiary Letters of Credit Guaranteed Obligations, or to enforce its rights against any security ever given to secure payment thereof. The Borrower hereby expressly waives to the maximum extent permitted by applicable law each and every right to which it may be entitled by virtue of the suretyship laws of the State of New York or any other state in which it may be located, including any and all rights it may have pursuant to Rule 31, Texas Rules of Civil Procedure, Section 17.001 of the Texas Civil Practice and Remedies Code and Chapter 34 of the Texas Business and Commerce Code. 37 Revolving Credit Facility.
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Existing Subsidiary Letters of Credit Guaranty. Notwithstanding that each Existing Subsidiary Letter of Credit is in support of obligations of, and is for the account of, a Subsidiary, the Borrower shall be obligated to reimburse the Issuing Bank hereunder for any and all drawings under such Existing Subsidiary Letter of Credit in accordance with Section 2.05(h). Notwithstanding the foregoing, to the extent that the Borrower is not treated as the primary obligor for the reimbursement of such Existing Subsidiary Letter of Credit pursuant to the relevant documentation for such Existing Subsidiary Letter of Credit, the Debtor Relief Laws, any other applicable Laws or otherwise, the Borrower hereby absolutely, unconditionally and irrevocably guarantees (this “Existing Subsidiary Letters of Credit Guaranty”) the punctual payment and performance when due, whether at stated maturity, by acceleration or otherwise, of the obligations of the Existing LC Subsidiaries under the Existing Subsidiary Letters of Credit, whether for principal, interest (including interest accruing or becoming owing both prior to and subsequent to the commencement of any proceeding against or with respect to the Existing LC Subsidiaries under any Debtor Relief Laws, fees, commissions, expenses (including reasonable attorneys’ fees and expenses) or otherwise (all such obligations being the “Existing Subsidiary Letters of Credit Guaranteed Obligations”). The Borrower agrees to pay any and all expenses incurred by each Lender, the Issuing Bank and the Administrative Agent in enforcing this Existing Subsidiary Letters of Credit Guaranty against the Borrower. This Existing Subsidiary Letters of Credit Guaranty is an absolute, unconditional, present and continuing guaranty of payment and not of collectability and is in no way conditioned upon any attempt to collect from the Existing LC Subsidiaries or any other action, occurrence or circumstance whatsoever. The Borrower agrees that, to the maximum extent permitted by applicable law, the Existing Subsidiary Letters of Credit Guaranteed Obligations may be extended or renewed, and indebtedness thereunder repaid and reborrowed in whole or in part, without notice to or assent by the Borrower, and that it will remain bound upon this Existing Subsidiary Letters of Credit Guaranty notwithstanding any extension, renewal or other alteration of any Existing Subsidiary Letters of Credit Guaranteed Obligations, or any repayment and reborrowing of Loans. To the maximum extent permitted by applicable law, except as otherwise expressly provided in this Agreement or any other Loan Document to which the Borrower is a party, the obligations of the Borrower under this Existing Subsidiary Letters of Credit Guaranty shall be absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms hereof under any circumstances whatsoever. The Borrower hereby waives promptness, diligence, notice of acceptance and any other notice with respect to any of the Existing Subsidiary Letters of Credit Guaranteed Obligations and this Existing Subsidiary Letters of Credit Guaranty and waives presentment, demand for payment, notice of intent to accelerate, notice of dishonor or nonpayment and any requirement that the Administrative Agent or any Lender institute suit, collection proceedings or take any other action to collect the Existing Subsidiary Letters of Credit Guaranteed Obligations, including any requirement that the Administrative Agent or any Lender exhaust any right or take any action against the Existing LC Subsidiaries or any other Person or any collateral (it being the intention of the Administrative Agent, the Lenders and the Borrower that this Existing Subsidiary Letters of Credit Guaranty is to be a guaranty of payment and not of collection). It shall not be necessary for the Administrative Agent or any Lender, in order to enforce any payment by the Borrower hereunder, to institute suit or exhaust its rights and remedies against the Existing LC Subsidiaries or any other Person, including others liable to pay any Existing Subsidiary Letters of Credit Guaranteed Obligations, or to enforce its rights against any security ever given to secure payment thereof. The Borrower hereby expressly waives to the maximum extent permitted by applicable law each and every right to which it may be entitled by virtue of the suretyship laws of the State of New York or any other state in which it may be located, including any and all rights it may have pursuant to Rule 31, Texas Rules of Civil Procedure, Section 17.001 of the Texas Civil Practice and Remedies Code and Chapter 34 of the Texas Business and Commerce Code. 37 Revolving Credit FacilitySubsidiary
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Existing Subsidiary Letters of Credit Guaranty. Notwithstanding that each Existing Subsidiary Letter of Credit is in support of obligations of, and is for the account of, a Subsidiary, the Borrower shall be obligated to reimburse the Issuing Bank hereunder for any and all drawings under such Existing Subsidiary Letter of Credit in accordance with Section 2.05(h). Notwithstanding the foregoing, to the extent that the Borrower is not treated as the primary obligor for the reimbursement of such Existing Subsidiary Letter of Credit pursuant to the relevant documentation for such Existing Subsidiary Letter of Credit, the Debtor Relief Laws, any other applicable Laws or otherwise, the Borrower hereby absolutely, unconditionally and irrevocably guarantees (this “Existing Subsidiary Letters of Credit Guaranty”) the punctual payment and performance when due, whether at stated maturity, by acceleration or otherwise, of the obligations of the Existing LC Subsidiaries under the Existing Subsidiary Letters of Credit, whether for principal, interest (including interest accruing or becoming owing both prior to and subsequent to the commencement of any proceeding against or with respect to the Existing LC Subsidiaries under any Debtor Relief Laws, fees, commissions, expenses (including reasonable attorneys’ fees and expenses) or otherwise (all such obligations being the “Existing Subsidiary Letters of Credit Guaranteed Obligations”). The Borrower agrees to pay any and all expenses incurred by each Lender, the Issuing Bank and the Administrative Agent in enforcing this Existing Subsidiary Letters of Credit Guaranty against the Borrower. This Existing Subsidiary Letters of Credit Guaranty is an absolute, unconditional, present and continuing guaranty of payment and not of collectability and is in no way conditioned upon any attempt to collect from the Existing LC Subsidiaries or any other action, occurrence or circumstance whatsoever. The Borrower agrees that, to the maximum extent permitted by applicable law, the Existing Subsidiary Letters of Credit Guaranteed Obligations may be extended or renewed, and indebtedness thereunder repaid and reborrowed in whole or in part, without notice to or assent by the Borrower, and that it will remain bound upon this Existing Subsidiary Letters of Credit Guaranty notwithstanding any extension, renewal or other alteration of any Existing Subsidiary Letters of Credit Guaranteed Obligations, or any repayment and reborrowing of Loans. To the maximum extent permitted by applicable law, except as otherwise expressly provided in this Agreement or any other Loan Document to which the Borrower is a party, the obligations of the Borrower under this Existing Subsidiary Letters of Credit Guaranty shall be absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms hereof under any circumstances whatsoever. The Borrower hereby waives promptness, diligence, notice of acceptance and any other notice with respect to any of the Existing Subsidiary Letters of Credit Guaranteed Obligations and this Existing Subsidiary Letters of Credit Guaranty and waives presentment, demand for payment, notice of intent to accelerate, notice of dishonor or nonpayment and any requirement that the Administrative Agent or any Lender institute suit, collection proceedings or take any other action to collect the Existing Subsidiary Letters of Credit Guaranteed Obligations, including any requirement that the Administrative Agent or any Lender exhaust any right or take any action against the Existing LC Subsidiaries or any other Person or any collateral (it being the intention of the Administrative Agent, the Lenders and the Borrower that this Existing Subsidiary Letters of Credit Guaranty is to be a guaranty of payment and not of collection). It shall not be necessary for the Administrative Agent or any Lender, in order to enforce any payment by the Borrower hereunder, to institute suit or exhaust its rights and remedies against the Existing LC Subsidiaries or any other Person, including others liable to pay any Existing Subsidiary Letters of Credit Guaranteed Obligations, or to enforce its rights against any security ever given to secure payment thereof. The Borrower hereby expressly waives to the maximum extent permitted by applicable law each and every right to which it may be entitled by virtue of the suretyship laws of the State of New York or any other state in which it may be located, including any and all rights it may have pursuant to Rule 31, Texas Rules of Civil Procedure, Section 17.001 of the Texas Civil Practice and Remedies Code and Chapter 34 of the Texas Business and Commerce Code. 37 Revolving Credit Facility.
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Existing Subsidiary Letters of Credit Guaranty. Notwithstanding that each Existing Subsidiary Letter of Credit is in support of obligations of, and is for the account of, a Subsidiary, the Borrower shall be obligated to reimburse the Issuing Bank hereunder for any and all drawings under such Existing Subsidiary Letter of Credit in accordance with Section 2.05(h). Notwithstanding the foregoing, to the extent that the Borrower is not treated as the primary obligor for the reimbursement of such Existing Subsidiary Letter of Credit pursuant to the relevant documentation for such Existing Subsidiary Letter of Credit, the Debtor Relief Laws, any other applicable Laws or otherwise, the Borrower hereby absolutely, unconditionally and irrevocably guarantees (this “Existing Subsidiary Letters of Credit Guaranty”) the punctual payment and performance when due, whether at stated maturity, by acceleration or otherwise, of the obligations of the Existing LC Subsidiaries under the Existing Subsidiary Letters of Credit, whether for principal, interest (including interest accruing or becoming owing both prior to and subsequent to the commencement of any proceeding against or with respect to the Existing LC Subsidiaries under any Debtor Relief Laws, fees, commissions, expenses (including reasonable attorneys’ fees and expenses) or otherwise (all such obligations being the “Existing Subsidiary Letters of Credit Guaranteed Obligations”). The Borrower agrees to pay any and all expenses incurred by each Lender, the Issuing Bank and the Administrative Agent in enforcing this Existing Subsidiary Letters of Credit Guaranty against the Borrower. This Existing Subsidiary Letters of Credit Guaranty is an 40 Revolving Credit Facility absolute, unconditional, present and continuing guaranty of payment and not of collectability and is in no way conditioned upon any attempt to collect from the Existing LC Subsidiaries or any other action, occurrence or circumstance whatsoever. The Borrower agrees that, to the maximum extent permitted by applicable law, the Existing Subsidiary Letters of Credit Guaranteed Obligations may be extended or renewed, and indebtedness thereunder repaid and reborrowed in whole or in part, without notice to or assent by the Borrower, and that it will remain bound upon this Existing Subsidiary Letters of Credit Guaranty notwithstanding any extension, renewal or other alteration of any Existing Subsidiary Letters of Credit Guaranteed Obligations, or any repayment and reborrowing of Loans. To the maximum extent permitted by applicable law, except as otherwise expressly provided in this Agreement or any other Loan Document to which the Borrower is a party, the obligations of the Borrower under this Existing Subsidiary Letters of Credit Guaranty shall be absolute, unconditional and irrevocable, and shall be performed strictly in accordance with the terms hereof under any circumstances whatsoever. The Borrower hereby waives promptness, diligence, notice of acceptance and any other notice with respect to any of the Existing Subsidiary Letters of Credit Guaranteed Obligations and this Existing Subsidiary Letters of Credit Guaranty and waives presentment, demand for payment, notice of intent to accelerate, notice of dishonor or nonpayment and any requirement that the Administrative Agent or any Lender institute suit, collection proceedings or take any other action to collect the Existing Subsidiary Letters of Credit Guaranteed Obligations, including any requirement that the Administrative Agent or any Lender exhaust any right or take any action against the Existing LC Subsidiaries or any other Person or any collateral (it being the intention of the Administrative Agent, the Lenders and the Borrower that this Existing Subsidiary Letters of Credit Guaranty is to be a guaranty of payment and not of collection). It shall not be necessary for the Administrative Agent or any Lender, in order to enforce any payment by the Borrower hereunder, to institute suit or exhaust its rights and remedies against the Existing LC Subsidiaries or any other Person, including others liable to pay any Existing Subsidiary Letters of Credit Guaranteed Obligations, or to enforce its rights against any security ever given to secure payment thereof. The Borrower hereby expressly waives to the maximum extent permitted by applicable law each and every right to which it may be entitled by virtue of the suretyship laws of the State of New York or any other state in which it may be located, including any and all rights it may have pursuant to Rule 31, Texas Rules of Civil Procedure, Section 17.001 of the Texas Civil Practice and Remedies Code and Chapter 34 of the Texas Business and Commerce Code. 37 Revolving Credit Facility.
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