Common use of Guaranties and Security of Subsidiaries Clause in Contracts

Guaranties and Security of Subsidiaries. The Obligations shall also be guaranteed pursuant to the terms of the Guaranty. The obligations of the Guarantors under the Guaranty shall be in turn secured by a perfected first priority security interest (subject only to Permitted Liens entitled to priority under applicable law) in all of the assets of each such Guarantor, whether now owned or hereafter acquired, pursuant to the terms of the Security Documents to which such Guarantor is a party.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Digitas Inc), Revolving Credit Agreement (Aztec Technology Partners Inc /De/)

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Guaranties and Security of Subsidiaries. The Obligations shall also be guaranteed pursuant to the terms of the Guaranty. The obligations of the Guarantors Borrower's Subsidiaries under the Guaranty shall be in turn secured by a perfected first priority security interest (subject only to Permitted Liens entitled to priority under applicable law) in all of the assets of each such GuarantorSubsidiary, whether now owned or hereafter acquired, pursuant to the terms of the Security Documents to which such Guarantor Subsidiary is a party.

Appears in 2 contracts

Samples: Revolving Credit Agreement (Appnet Systems Inc), Revolving Credit and Term Loan Agreement (Fargo Electronics Inc)

Guaranties and Security of Subsidiaries. The Certain of the Obligations shall also be guaranteed by the Guarantors pursuant to the terms of the GuarantyGuarantees. The obligations of the Guarantors under the Guaranty shall be in turn secured by a perfected first priority security interest (subject only to Permitted Liens entitled to priority under applicable law) in substantially all of the assets of each such Guarantor, whether now owned or hereafter acquired, pursuant to the terms of the Security Documents to which such Guarantor is Guarantors are a party.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Genrad Inc)

Guaranties and Security of Subsidiaries. The Obligations shall also be guaranteed pursuant to the terms of the GuarantyGuaranties. The obligations of each of the Guarantors under the Guaranty shall be in turn secured by a perfected first priority security interest (subject only to Permitted Liens entitled to priority under applicable law) in all of the assets of each such Guarantor, whether now owned or hereafter acquired, pursuant to the terms of the Security Documents to which each such Guarantor is a party.

Appears in 1 contract

Samples: Credit Agreement (Transtechnology Corp)

Guaranties and Security of Subsidiaries. The Obligations shall also be guaranteed pursuant to the terms of the Guaranty. The obligations of the Guarantors under the Guaranty shall be in turn secured by a perfected first priority security interest (subject only to Permitted Liens entitled to priority under applicable law) in all of the assets (other than Real Estate) of each such Guarantor, whether now owned or hereafter acquired, pursuant to the terms of the Security Documents to which such Guarantor is a party.

Appears in 1 contract

Samples: Revolving Credit and Term Loan Agreement (Western Digital Corp)

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Guaranties and Security of Subsidiaries. The Obligations shall also be guaranteed pursuant to the terms of the Guaranty. The obligations of the Guarantors Guarantor's under the Guaranty shall be in turn secured by a perfected first priority security interest (subject only to Permitted Liens entitled to priority under applicable law) in all of the assets of each such GuarantorGuarantor described in the Security Documents, whether now owned or hereafter acquired, pursuant to the terms of the Security Documents to which such Guarantor Subsidiary is a party.

Appears in 1 contract

Samples: Revolving Credit Agreement (Peregrine Systems Inc)

Guaranties and Security of Subsidiaries. The Obligations shall also be --------------------------------------- guaranteed pursuant to the terms of the Guaranty. The obligations of the Guarantors Borrowers' Subsidiaries under the Guaranty shall be in turn secured by a perfected first priority security interest (subject only to Permitted Liens entitled to priority under applicable law) in all of the assets of each such GuarantorSubsidiary, whether now owned or hereafter acquired, pursuant to the terms of the Security Documents to which such Guarantor Subsidiary is a party.

Appears in 1 contract

Samples: Revolving Credit Agreement (Us Xpress Enterprises Inc)

Guaranties and Security of Subsidiaries. The Obligations shall --------------------------------------- also be guaranteed pursuant to the terms of the GuarantyGuaranties. The obligations of the Guarantors under the each such Guaranty shall be in turn secured by a perfected first priority security interest (subject only to Permitted Liens entitled to priority under applicable law) in all of the assets of each such Guarantor, whether now owned or hereafter acquired, pursuant to the terms of the Security Documents to which such Guarantor is a party.

Appears in 1 contract

Samples: Revolving Credit Agreement (Tier Technologies Inc)

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