Guarantee and Security. The guarantee and security arrangements for each of the Finance Lease Agreements are set out below:
Guarantee and Security. With effect from the Effective Date, each Effective Date Debtor and (to the extent applicable) each Effective Date Security Grantor:
Guarantee and Security. With effect from the Effective Date, each Obligor and GMI confirms that any security or guarantee created or given by it under the Finance Documents (including, in the case of each Obligor, under clause 25 (Guarantee and indemnity) of the Facility Agreement) will:
Guarantee and Security. The guarantee and security arrangements for each of the Finance Lease Agreement are set out below: The Supplier shall provide joint and several liabilities for the debts of the Lessee under the Finance Lease Agreements.
Guarantee and Security. Each of the Guarantors acknowledges and confirms that (i) the guarantee granted by it pursuant to Article 10 of the Loan Agreement constitutes a continuing guarantee of, among other things, all present and future obligations of the Borrower to the Lender under the Loan Agreement and shall remain in full force and effect; and (ii) each of the other Loan Documents executed by it shall remain in full force and effect. In addition, (i) MEC Land Holdings (California) Inc. acknowledges and confirms that the Golden Gate Mortgage constitutes continuing security for the obligations secured thereby and shall remain in full force and effect, and (ii) The Santa Xxxxx Companies, Inc. acknowledges and confirms that the Santa Xxxxx Mortgage constitutes continuing security for the obligations secured thereby and shall remain in full force and effect.
Guarantee and Security. Each of the Guarantors acknowledges and confirms that (i) the guarantee granted by it pursuant to Article 10 of the Loan Agreement constitutes a continuing guarantee of, among other things, all present and future obligations of the Borrower to the Lender under the Loan Agreement and shall remain in full force and effect; and (ii) each of the other Loan Documents executed by it shall remain in full force and effect. In addition, (i) MEC Land Holdings (California) Inc. acknowledges and confirms that the Golden Gate Mortgage constitutes continuing security for the obligations secured thereby and shall remain in full force and effect, and (ii) The Santa Xxxxx Companies, Inc. acknowledges and confirms that the Santa Xxxxx Mortgage constitutes continuing security for the obligations secured thereby and shall remain in full force and effect. The Lender acknowledges that, concurrent with any Future Advance, MID Islandi sf will be granted a second ranking charge on the shares of AmTote on terms and conditions substantially similar to the New Security.
Guarantee and Security. The guarantee and security arrangements for the Finance Lease Agreements are set out below: The ultimate beneficial owner of the Lessee and one of its associates provide joint and several liability security for the debts under the Finance Lease Agreements.
Guarantee and Security. Each of the Lessee Personal Guarantors has provided an irrevocable and unconditional personal guarantee with joint and several liability in favour of the Company in respect of all debt payable by Lessee F to the Company under each of the Direct Lease Agreements. Corporate Guarantor I has provided an irrevocable and unconditional corporate guarantee with joint and several liability in favour of the Company in respect of all debt payable by Lessee F1 to the Company under the Direct Lease Agreement I and the the Direct Lease Agreement II, while Corporate Guarantor II has provided an irrevocable and unconditional corporate guarantee with joint and several liability in favour of the Company in respect of all debt payable by Lessee F2 to the Company under the Direct Lease Agreement III. Lessee F also has pledged certain equipment and, among others, such ancillary, additional or substitution property of and rights in and interest accrued upon the equipment as security to secure, among others, the performance of its obligations under each of the Direct Lease Agreements. Repurchase of Direct Lease Assets by Suppliers: Pursuant to the terms of the respective agreements between the following Suppliers and the Company, in the event that Lessee F fails to pay on time and in full the lease payment or any other amount under the following Direct Lease Agreement(s), the relevant Suppliers agreed to, inter alia, repurchase from the Company the following Direct Lease Assets at a sum with reference to the difference of (a) the aggregate of the outstanding lease payment, the default payment and the retention consideration; and (b) the security deposit paid by Lessee F to the Company under the relevant Direct Lease Agreements. Supplier Direct Lease Assets which the Supplier agreed to buy back in case of default by Lessee F Relevant Direct Lease Agreement(s) I Direct Lease Assets I Direct Lease Agreement I I Direct Lease Assets II Direct Lease Agreement II There is no such direct lease assets repurchase arrangement between the Company and Supplier II under to the Direct Lease Agreement III.
Guarantee and Security. The guarantee and security arrangements for the Finance Lease Agreements are set out below: The controlling shareholder, ultimate beneficial owner and an associated company of the Lessee provide joint and several liability guarantees for the debts under each finance lease agreement; The Lessee and an affiliated company provide pledge of accounts receivable for obligations under each financial lease agreement. REASONS FOR AND BENEFITS OF ENTERING INTO THE PURCHASE AGREEMENT AND THE FINANCE LEASE AGREEMENTS The Company’s principal activities are to provide finance leasing and advisory services to customers. The entering of the Purchase Agreement and the Finance Lease Agreements is part of the Company’s ordinary and usual course of business, which is expected to provide a stable revenue and cashflow to the Company. The Directors consider that entering into the Purchase Agreement and the Finance Lease Agreements will generate revenue and profit to the Company over the lease period and is consistent with the Company’s business development strategy. Since the Purchase Agreement and the Finance Lease Agreements were entered into under normal commercial terms, the Directors are of the view that the terms under the Purchase Agreement and the Finance Lease Agreements are fair and reasonable and are in the interests of the Company and its shareholders as a whole.
Guarantee and Security. The applicant shall secure a maintenance bond in favor of the city or shall provide an alternate security in a form acceptable to the city attorney to guarantee the successful operation of any required improvements for two years, and assuring the correction or repair of any defects in workmanship or material appearance within the two year period. The amount and conditions of the maintenance bond or other approved security shall be ten percent of the cost of construction of the improvements as estimated by the developer or actual costs.