Guaranty of Domestic Subsidiaries Sample Clauses

Guaranty of Domestic Subsidiaries. Cause each Domestic Subsidiary (present and future) to execute and deliver to the Administrative Agent the Guaranty (accompanied by such supporting documents as the Administrative Agent shall require), provided, however, that the provisions of this Section 6.13 shall not apply to a Non-Material Subsidiary.
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Guaranty of Domestic Subsidiaries. Within thirty (30) Business Days (or such longer period as the Administrative Agent may agree in its sole discretion) following the formation or acquisition of any Domestic Subsidiary or any Domestic Subsidiary ceasing to be an Excluded Subsidiary, cause such Domestic Subsidiary (present and future, including, without limitation, upon the formation of any Subsidiary that is a Delaware Divided LLC) to execute and deliver to the Administrative Agent the Guaranty (accompanied by customary closing certificates and legal opinions and all other documents (including resolutions of the board of directors of the Loan Parties) the Administrative Agent may reasonably request), provided, however, that the provisions of this Section 6.13 shall not apply to any Excluded Subsidiary.
Guaranty of Domestic Subsidiaries. Within thirty (30) Business Days (or such longer period as the Administrative Agent may agree in its sole discretion) following the formation or acquisition of any Domestic Subsidiary or any Domestic Subsidiary ceasing to be an Excluded Subsidiary, cause such Domestic Subsidiary (present and future) to execute and deliver to the Administrative Agent the Guaranty (accompanied by customary closing certificates and legal opinions and all other documents (including resolutions of the board of directors of the Loan Parties) the Administrative Agent may reasonably request), provided, however, that the provisions of this Section 6.13 shall not apply to any Excluded Subsidiary.
Guaranty of Domestic Subsidiaries. Cause each Domestic Subsidiary (present and future) to execute and deliver to the Bank the Guaranty and Security Agreement (accompanied by such supporting documents as the Bank shall require). Without limitation of the foregoing, the Borrower (i) shall grant and cause each of its Domestic Subsidiaries to grant to the Bank, as security for the Secured Obligations, a first Lien upon all assets of every description (whether now or hereafter existing or acquired) of the Borrower and its Domestic Subsidiaries (other than Excluded Assets) and (ii) at its expense, execute and deliver and cause to be executed and delivered to the Bank such security agreements, pledge agreements, mortgages, UCC financing statements, stock or bond powers, waivers and consents, and other documents, as the Bank shall request, and take such further action as may be required under applicable law, or as the Bank may request, in order to grant, preserve, protect and perfect the validity and first priority of the security interests created pursuant to the Collateral Documents.

Related to Guaranty of Domestic Subsidiaries

  • Foreign Subsidiaries Subject to the following sentence, in the event that, at any time, Foreign Subsidiaries have, in the aggregate, (i) total revenues constituting 5% or more of the total revenues of Borrower and its Subsidiaries on a consolidated basis, or (ii) total assets constituting 5% or more of the total assets of Borrower and its Subsidiaries on a consolidated basis, promptly (and, in any event, within 30 days after such time) the Borrower shall cause one or more of such Foreign Subsidiaries to become Subsidiary Guarantors and to have their Equity Interests pledged, each in the manner set forth in Section 8.12(a), such that, after such Subsidiaries become Subsidiary Guarantors, the non-guarantor Foreign Subsidiaries in the aggregate shall cease to have revenues or assets, as applicable, that meet the thresholds set forth in clauses (i) and (ii) above. Notwithstanding the foregoing, no Foreign Subsidiary shall be required to become a Subsidiary Guarantor, xxxxx x xxxx on any of its assets in favor of the Lenders, or shall have its Equity Interests pledged to secure the Obligations, to the extent that becoming a Subsidiary Guarantor, granting a lien on any of its assets in favor of the Lenders or providing such pledge would result in adverse tax consequences for Borrower and its Subsidiaries, taken as a whole; provided that, if a Foreign Subsidiary is precluded from becoming a Subsidiary Guarantor or having all of its Equity Interests pledged as a result of such adverse tax consequences, to the extent that such Foreign Subsidiary is a “first tier” Foreign Subsidiary, Borrower shall pledge (or cause to be pledged) 65% of the total number of the Equity Interests of such Foreign Subsidiary to the Lenders to secure the Obligations.

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