Guarantees by Holding Company. The Holding Company will not, nor will it permit any of the Designated SBG Subsidiaries to, guarantee any Indebtedness of the Borrower or any of its Subsidiaries that is permitted under Section 7.01 unless (i) each such entity remains a Guarantor hereunder and (ii) if such guarantee is secured, such guarantee shall have the same priority as the Indebtedness to which it relates.
Appears in 9 contracts
Samples: Credit Agreement (Sinclair Broadcast Group Inc), Credit Agreement (Sinclair Broadcast Group Inc), Security Agreement (Sinclair Broadcast Group Inc)
Guarantees by Holding Company. The Holding Company will not, nor will it permit any of the Designated SBG Subsidiaries to, guarantee any Indebtedness of the Borrower or any of its Subsidiaries that is permitted under Section 7.01 16 unless (i) each such entity remains a Guarantor hereunder and (ii) if such guarantee is secured, such guarantee shall have the same priority as the Indebtedness to which it relates.
Appears in 1 contract
Guarantees by Holding Company. The Holding Company will not, nor will it permit any of the Designated SBG Subsidiaries to, guarantee any Indebtedness of the Borrower or any of its Subsidiaries that is permitted under Section 7.01 unless (i) each such entity remains a Guarantor hereunder and (ii) if such guarantee is secured, such guarantee shall have the same priority as the Indebtedness to which it relates.. 105
Appears in 1 contract
