Common use of Guarantee Obligation Clause in Contracts

Guarantee Obligation. No Borrower or Subsidiary will create, incur, suffer to exist a Guarantee Obligation or otherwise become liable for any obligation of any other Person or any Subsidiary, except: (1) the endorsement of commercial paper for deposit or collection in the ordinary course of business, and (2) leases by the Borrower or a Subsidiary incurred in the ordinary course of business.

Guarantee Obligation. No Neither the Borrower nor any Subsidiary or Foreign Subsidiary will create, incur, suffer to exist a Guarantee Obligation or otherwise become liable for any obligation of any other Person or any Subsidiary, except: (1) the endorsement of commercial paper for deposit or collection in the ordinary course of business, and (2) leases by the Borrower or a Subsidiary or Foreign Subsidiary incurred in the ordinary course of business, and (3) a guaranty obligation consented to by the Banks as a part of a Permitted Acquisition in accordance with Paragraph 7.12.

Guarantee Obligation. No Neither the Borrower or nor any Subsidiary will create, incur, suffer to exist a Guarantee Obligation or otherwise become liable for any obligation of any other Person or any Subsidiary, except: except (1i) the endorsement of commercial paper for deposit or collection in the ordinary course of business, business and (2ii) leases by Guarantee Obligations of the Borrower or with respect to Funded Debt of a Subsidiary incurred in the ordinary course of businessSubsidiary.