Common use of Guarantees by Subsidiaries Clause in Contracts

Guarantees by Subsidiaries. (a) The Borrower shall cause each Subsidiary that becomes or is a Collateral Subsidiary Guarantor or an obligor with respect to any of the Secured Obligations (except a Foreign Subsidiary that becomes an obligor solely in respect of Debt or other obligations of itself or another Foreign Subsidiary), in each case, to become a Subsidiary Guarantor by becoming a party to this Agreement, the Second Priority Subsidiary Guarantee Agreement and the Collateral Trust and Intercreditor Agreement, if such Subsidiary is not already a Subsidiary Guarantor party thereto, and delivering evidence thereof to the Administrative Agent at the time such Person becomes a Collateral Subsidiary Guarantor or such an obligor.

Appears in 2 contracts

Samples: Credit Agreement (Rite Aid Corp), Credit Agreement (Rite Aid Corp)

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Guarantees by Subsidiaries. (a) The Borrower Company shall cause each Subsidiary that becomes or is a Collateral Subsidiary Guarantor or an obligor with respect to any of the Secured Obligations (except a Foreign Subsidiary that becomes an obligor solely in respect of Debt or other obligations of itself or another Foreign Subsidiary), in each case, to become a Subsidiary Guarantor by becoming a party to this AgreementIndenture, the Second Priority Subsidiary Guarantee Agreement and the Collateral Trust and Intercreditor Agreement, if such Subsidiary is not already a Subsidiary Guarantor party thereto, and delivering evidence thereof to the Administrative Agent Trustee at the time such Person becomes a Collateral Subsidiary Guarantor or such an obligor.

Appears in 2 contracts

Samples: Tia Indenture (Rite Aid Corp), Security Agreement (Rite Aid Corp)

Guarantees by Subsidiaries. (ai) The Borrower Company shall cause each Subsidiary that becomes or is a Collateral Subsidiary Guarantor or an obligor with respect to any of the Secured Obligations (except a Foreign Subsidiary that becomes an obligor solely in respect of Debt or other obligations of itself or another Foreign Subsidiary), in each case, to become a Subsidiary Guarantor by becoming a party to this AgreementIndenture, the Second Priority Subsidiary Guarantee Agreement and the Collateral Trust and Intercreditor Agreement, if such Subsidiary is not already a Subsidiary Guarantor party thereto, and delivering evidence thereof to the Administrative Agent Trustee at the time such Person becomes a Collateral Subsidiary Guarantor or such an obligor.

Appears in 1 contract

Samples: Rite Aid Corp

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Guarantees by Subsidiaries. (a) The Borrower Company shall cause each Subsidiary that becomes or is a Collateral Subsidiary Guarantor or an obligor with respect to any of the Secured Obligations (except a Foreign Subsidiary that becomes an obligor solely in respect of Debt or other obligations of itself or another Foreign Subsidiary), in each case, to become a Subsidiary Guarantor by becoming a party to this Agreement, the Second Priority Senior Subsidiary Guarantee Agreement and the Collateral Trust and Senior Lien Intercreditor Agreement, if such Subsidiary is not already a Subsidiary Guarantor party thereto, and delivering evidence thereof to the Administrative Agent Trustee at the time such Person becomes a Collateral Subsidiary Guarantor or such an obligor.

Appears in 1 contract

Samples: Indenture (Rite Aid Corp)

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