GUARANTY OF LEASE OBLIGATIONS Sample Clauses

GUARANTY OF LEASE OBLIGATIONS. The Guaranty of Lease Obligations of even date executed by Guarantor in favor of Lessor, relating to the Lease Obligations.
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GUARANTY OF LEASE OBLIGATIONS. Guarantor hereby absolutely and unconditionally guarantees the prompt payment and performance in full of all of the Lease Obligations as and when the respective parts thereof become due and payable. If any Guaranty Enforcement Event shall occur or the Lease Obligations, or any part thereof, shall not be paid in full when due and payable, or performed in full when performance is due, Landlord shall have the right to proceed directly against Guarantor under this Agreement to collect and obtain the payment and performance in full of the Lease Obligations, regardless of whether or not Landlord shall have theretofore proceeded or shall then be proceeding against Tenant or any other Obligor or collateral, if any, or any of the foregoing, it being understood that Landlord, in its sole discretion, may proceed against any Obligor and any collateral and may exercise each right, power or privilege that Landlord may then have at such time or times and as often and in such order as Landlord, in its sole discretion, may from time to time deem expedient to collect the payment in full, and to enforce full performance, of the Lease Obligations.
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GUARANTY OF LEASE OBLIGATIONS. The Guaranty of Lease Obligations dated September 15, 1998 among Promus Hotels, Inc., Tenant and Seller and Guaranty of Lease Obligations dated September 15, 1998 among Promus Hotel Corporation, Tenant and Seller. Hazardous Materials: (1) any substance or material defined as or included in the definition of one or more of any of the following: “hazardous materials,” “hazardous waste,” “hazardous substance,” “regulated substance,” “toxic substance,” “pollutant,” “contaminant,” “radioactive material,” or any other similar designation in, or otherwise subject to regulation under an Environmental Law, (2) any oil, petroleum, petroleum fraction or petroleum derived substance, (3) any flammable substance or explosive, (4) asbestos in any form, (5) polychlorinated biphenyls, (6) urea formaldehyde foam insulation, (7) pesticides, and (8) any other chemical, material or substance, exposure to which is prohibited, limited or regulated under any Environmental Law. Hotel Contracts: To the extent lawfully assignable without penalty or breach, any agreements in the name of the Seller (and all rights of Seller relating thereto) relating solely to the Real Property, including service, maintenance, purchase orders, leases and other contracts or agreements, equipment leases capitalized for accounting purposes, and any amendments thereto, with respect to the ownership, maintenance, operation, provisioning, or equipping of the Real Property, or any of the Property, as well as written warranties and guaranties relating thereto, if any, including, but not limited to, those relating to heating and cooling equipment and/or mechanical equipment, provided they are listed in a schedule to the Assignment and Assumption Agreement.
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GUARANTY OF LEASE OBLIGATIONS. The Guaranty of Lease Obligations dated September 15, 1998 among Promus Hotels, Inc., Purchaser and Seller and Guaranty of Lease Obligations dated September 15, 1998 among Promus Hotel Corporation, Purchaser and Seller. Guarantor: Red Lion Hotels Corporation.
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GUARANTY OF LEASE OBLIGATIONS. On the Closing Date, the Parent shall provide a guaranty in the form of agreement attached hereto as exhibit 6.15, pursuant to which the Parent will guaranty the obligations of the Company under the real property leases described on Schedule 4.16 (the “Guaranty”).
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GUARANTY OF LEASE OBLIGATIONS. Parent agrees to guaranty the punctual payment and performance of any and all liabilities and obligations of RLI and its subsidiaries owed to RLH Partnership and its partners and affiliates, and all of such person's officers, directors, employees, shareholders and agents, and any of the foregoing's successors and assigns (collectively, the "Indemnified Parties"), arising out of or related to the Master Lease (the "Obligations").
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GUARANTY OF LEASE OBLIGATIONS. All of the Lease Obligations (including Lease Obligations arising under any Schedule that has been assigned pursuant to Section 19 hereof) shall be guaranteed by each of Lessee’s Restricted Subsidiaries and each additional Person that shall, from time to time, become a guarantor of such Lease Obligations (each such Person a “Guarantor”) and shall be evidenced by a Guaranty in the form attached hereto as Exhibit C (a “Guaranty”). At the prior written request of Lessee (which shall be made at least 10 days in advance) and as permitted by the terms of this Agreement, so long as no Event of Default exists or would result therefrom, Lessor shall release the Guaranty of any particular Guarantor under any of the following circumstances: (i) such Guarantor becomes an Unrestricted Subsidiary; and (ii) such Guarantor is liquidated, dissolved or sold to a third party that is not affiliated with Lessee, provided that such liquidation, dissolution or sale is permitted by the terms and conditions of that certain Amended and Restated Credit Agreement, dated as of December 31, 2003, between Lessee and General Electric Capital Corporation, as agent and lender, as the same may be amended or modified from time to time (and if such Credit Agreement is terminated or replaced at any time, as such Credit Agreement existed immediately prior to such termination or replacement). In addition, at the prior written request of Lessee (which shall be made at least 10 days in advance), so long as no Event of Default has occurred and is continuing, Lessor shall release all Guaranties of each Guarantor; provided, however, that upon the release of the Guaranties by Lessor under the terms and conditions of this sentence, Lessee shall be obligated to increase the Cash Collateral amount to the sum of (1) thirty percent (30%) of the Adjusted Aggregate Stipulated Loss Value with respect to Equipment manufactured by a Person other than an Affiliate of Lessor and (2) twenty percent (20%) of the Adjusted Aggregate Stipulated Loss Value with respect to Equipment manufactured by an Affiliate of Lessor.
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GUARANTY OF LEASE OBLIGATIONS. This Guaranty of Lease Obligations (this "Guaranty") is made and entered into as of the 15th day of September, 1998 by and among Promus Hotels, Inc., a Delaware corporation (" Parent "), Red Lion Hotels, Inc., a Delaware corporation ("RLI "), and RLH Partnership, L. P., a Delaware limited partnership ("RLH Partnership").
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GUARANTY OF LEASE OBLIGATIONS. Parent agrees to guaranty the punctual payment and performance of any and all liabilities and obligations of RLI owed to RLH Partnership and its partners and affiliates, and all of such person's officers, directors, employees, shareholders and agents, and any of the foregoing's successors and assigns (collectively, the "Indemnified Parties") under the Master Lease (the "Obligations"). Parent hereby waives diligence, presentment, demand of payment, notice of dishonor or nonpayment, protest and notice of protest of any such Obligation, suit or taking other action by the Indemnified Parties against, and giving any notice of default or other notice to, or making any demand on, RLI or its subsidiaries with respect to the Obligations. Parent's guaranty is a guarantee of payment and not of collection only, is a primary obligation and is an absolute, unconditional, continuing and irrevocable guaranty of performance and payment. To the extent enforceable by law, Parent will not assert, plead or enforce against the Indemnified Parties any defense of waiver, release, discharge or disallowance in bankruptcy, anti-deficiency statute, or unenforceability which may be available to Parent. The liability of Parent under this Guaranty shall not be affected or impaired by any voluntary or involuntary liquidation, dissolution, sale or other disposition of all or substantially all the assets, marshaling of assets and liabilities, receivership, insolvency, bankruptcy (including any rejection of the Master Lease in such bankruptcy), assignment for the benefit of creditors, reorganization arrangement, composition or readjustment of, or other similar event or proceeding affecting RLI or any of its subsidiaries of any of their respective assets including, without limitation, any foreclosure by any mortgagees of the tenant under the Master Lease of the tenant's interest, if any, in any of the Retained Hotels, as tenant under the Master Lease. If any payment by Parent to any Indemnified Party on account of the Obligations is rescinded, invalidated, set aside or must otherwise be returned to Parent, RLI, the estate or trustee of either, or to any other person, for any reason whatsoever, Parent shall remain liable hereunder for the Obligations as if such payment had not been made.
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Related to GUARANTY OF LEASE OBLIGATIONS

  • Operating Lease Obligations On the Effective Date, none of the Loan Parties has any Operating Lease Obligations other than the Operating Lease Obligations set forth on Schedule 6.01(q).

  • GUARANTY OF LEASE THIS GUARANTY OF LEASE (“Guaranty”) is entered into as of July 5, 2019, by Ascend Wellness Holdings, LLC, an Illinois limited liability company (“Guarantor”), for the benefit of LCR 1014 EASTPORT PLAZA, LLC (“Lessor”), with reference to the following facts: Lessor and HealthCentral Illinois Holdings, LLC (“Lessee”), have entered or will enter into a lease of even date herewith (the “Lease”). Capitalized terms used but not otherwise defined herein shall have the same meaning ascribed to them in the Lease. By its covenants herein set forth, Guarantor has induced Lessor to enter into the Lease, which was made and entered into in consideration for Guarantor’s said covenants. Subject to the terms set forth herein, Guarantor unconditionally guarantees, without deduction by reason of setoff, defense or counterclaim, to Lessor and its successors and assigns the full and punctual payment (and not merely the collectability), performance and observance by Lessee, of all of the amounts, terms, covenants and conditions in the Lease contained on Lessee’s part to be paid, kept, performed and observed. Notwithstanding the foregoing, in no event shall the scope of Guarantor’s obligations exceed Lessee’s obligations under the Lease except to the extent Lessee is relieved of any such obligation by reason of any bankruptcy or other like filing or order. If Lessee shall at any time default in the punctual payment, performance and observance of any of the amounts, terms, covenants or conditions in the Lease contained on Lessee’s part to be paid, kept, performed and observed (after applicable notice and cure period), Guarantor will pay, keep, perform and observe same, as the case may be, in the place and stead of Lessee. Guarantor shall also pay to Lessor all reasonable and necessary incidental damages and expenses incurred by Lessor as a direct and proximate result of Lessee’s failure to perform, which expenses shall include reasonable attorneys’ fees and interest on all sums due and owing Lessor by reason of Lessee’s failure to pay same, at the maximum rate allowed by law. Any act of Lessor, or its successors or assigns, consisting of a waiver of any of the terms or conditions of the Lease, the giving of any consent to any matter or thing relating to the Lease, or the granting of any indulgence or extension of time to Lessee may be done without notice to Guarantor and without releasing Guarantor from any of its obligations hereunder. The obligations of Guarantor hereunder shall not be released by Lessor’s receipt, application or release of any security given for the performance and observance of any covenant or condition in the Lease contained on Lessee’s part to be performed or observed, nor by any modification of the Lease, regardless of whether Guarantor consents thereto or receives notice thereof. The liability of Guarantor hereunder shall in no way be affected by: (a) the release or discharge of Lessee in any creditor’s, receivership, bankruptcy or other proceeding; (b) the impairment, limitation or modification of the liability of Lessee or the estate of Lessee in bankruptcy, or of any remedy for the enforcement of Lessee’s liability under the Lease resulting from the operation of any present or future provision of the Federal Bankruptcy Code or other statutes or from the decision of any court; (c) the rejection or disaffirmance of the Lease in any such proceedings; (d) the assignment or transfer of the Lease by Lessee; (e) any disability or other defense of Lessee; (f) the cessation from any cause whatever of the liability of Lessee; (g) the exercise by Lessor of any of its rights or remedies reserved under the Lease or by law; or (h) any termination of the Lease. If Lessee shall become insolvent or be adjudicated bankrupt, whether by voluntary or involuntary petition, if any bankruptcy action involving Lessee shall be commenced or filed, if a petition for reorganization, arrangement or similar relief shall be filed against Lessee, or if a receiver of any part of Lessee’s property or assets shall be appointed by any court, Guarantor shall pay to Lessor the amount of all accrued, unpaid and accruing rent and other charges due under the Lease and all principal and interest and other charges under to the date when the debtor-in- possession, the trustee or administrator accepts the Lease and commences paying same. At the option of Lessor, Guarantor shall either: (a) pay Lessor an amount equal to the rent and other charges which would have been payable for the unexpired portion of the Lease term reduced to present-day value; or (b) execute and deliver to Lessor a new lease for the balance of the Lease term with the same terms and conditions as the Lease, but with Guarantor as Certain identified information has been omitted from this exhibit because it is not material and would likely cause competitive harm to the registrant if publicly disclosed. [***] indicates that information has been omitted. Lessee thereunder. Any operation of any present or future debtor’s relief act or similar act, or law or decision of any court, shall in no way affect the obligations of Guarantor or Lessee to perform any of the terms, covenants or conditions of the Lease or of this Guaranty. Guarantor may be joined in any action against Lessee in connection with the obligations of Lessee under the Lease and recovery may be had against Guarantor in any such action. Lessor may enforce the obligations of Guarantor hereunder without first taking any action whatever against Lessee or its successors and assigns, or pursuing any other remedy or applying any security it may hold. Until all of the covenants and conditions in the Lease on Lessee’s part to be performed and observed are fully performed and observed, Guarantor: (a) shall have no right of subrogation against Lessee by reason of any payment or performance by Guarantor hereunder; and (b) subordinates any liability or indebtedness of Lessee now or hereafter held by Guarantor to the obligations of Lessee to Lessor under the Lease. This Guaranty shall apply to the Lease, any extension, renewal, modification or amendment thereof, to any assignment, subletting or other tenancy thereunder and to any holdover term following the Lease term granted under the Lease, or any extension or renewal thereof. Notwithstanding anything in this Guaranty to the contrary, in the event Lessee assigns the Lease or subleases the Premises in accordance with the provisions of the Lease to a third party which is not an entity controlling or controlled by or under common control with Lessee or Guarantor (a “Third Party Assignee”) then (a) the undersigned shall not be responsible for any incremental increase in Rent or other obligation under the Lease or for or during any extension of the Lease term resulting from an amendment to the Lease between Lessor and such Third Party Assignee which provides for an increase in Rent or other obligation due under the Lease or an extension of the Lease term or for any exercise of any option to extend the Lease term which may be exercised by said Third Party Assignee, unless Guarantor shall have consented in writing to such increase in Rent or other obligation or extension of Lease term; and (b) as a condition to the undersigned’s liabilities under this Guaranty, Lessor shall be required to deliver written notice of any defaults by Lessee or the Third Party Assignee to Guarantor and Guarantor shall have the right to cure same within the time period provided in the Lease. In the event of any litigation between Guarantor and Lessor with respect to the subject matter hereof, the unsuccessful party in such litigation shall pay to the successful party all fees, costs and expenses thereof, including reasonable attorneys’ fees and expenses. If there is more than one undersigned Guarantor, (a) the term “Guarantor”, as used herein, shall include all of the undersigned; (b) each provision of this Guaranty shall be binding on each one of the undersigned, who shall be jointly and severally liable hereunder; and (c) Lessor shall have the right to join one or all of them in any proceeding or to proceed against them in any order. Within fifteen (15) days after Lessor’s written request (which requests may not be made more than once per calendar year), Guarantor shall furnish Lessor with financial statements or other reasonable financial information reflecting Guarantor’s current financial condition, certified by Guarantor or its financial officer. If Guarantor is a publicly-traded corporation, delivery of Guarantor’s last published financial information shall be satisfactory for purposes of this Paragraph. This instrument constitutes the entire agreement between Lessor and Guarantor with respect to the subject matter hereof, superseding all prior oral and written agreements and understandings with respect thereto. It may not be changed, modified, discharged or terminated orally or in any manner other than by an agreement in writing signed by Guarantor and Lessor. This Guaranty shall be governed by and construed in accordance with the laws of the State of Illinois. Every notice, demand or request (collectively “Notice”) required hereunder or by law to be given by either party to the other shall be in writing. Notices shall be given by personal service or by United States certified or registered mail, postage prepaid, return receipt requested, or by telegram, mailgram or same-day or overnight private courier, addressed to the party to be served at the address indicated below or such other address as the party to be served may from time to time designate in a Notice to the other party. Certain identified information has been omitted from this exhibit because it is not material and would likely cause competitive harm to the registrant if publicly disclosed. [***] indicates that information has been omitted. Any action to declare or enforce any right or obligation under the Lease may be commenced by Lessor in the state courts of the State of Illinois. Guarantor hereby consents to the jurisdiction of such Court for such purposes. Any notice, complaint or legal process so delivered shall constitute adequate notice and service of process for all purposes and shall subject Guarantor to the jurisdiction of such Court for purposes of adjudicating any matter related to this Guaranty. Lessor and Guarantor hereby waive their respective rights to trial by jury of any cause of action, claim, counterclaim or cross-complaint in any action, proceeding and/or hearing brought by either Lessor against Guarantor or Guarantor against Lessor on any matter whatever arising out of, or in any way connected with, the Lease, or this Guaranty. This Guaranty may be assigned in whole or part by Lessor upon written notice to Guarantor, but it may not be assigned by Guarantor without Lessor’s prior written consent, which may be withheld in Lessor’s sole and absolute discretion. The terms and provisions of this Guaranty shall be binding upon and inure to the benefit of the heirs, personal representatives, successors and permitted assigns of the parties hereto.

  • Guaranty of the Obligations Subject to the provisions of Section 7.2, Guarantors jointly and severally hereby irrevocably and unconditionally guaranty to Administrative Agent for the ratable benefit of the Beneficiaries the due and punctual payment in full of all Obligations when the same shall become due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. § 362(a)) (collectively, the “Guaranteed Obligations”).

  • Recourse Obligations The Mortgage Loan documents for each Mortgage Loan (a) provide that such Mortgage Loan becomes full recourse to the Mortgagor and guarantor (which is a natural person or persons, or an entity or entities distinct from the Mortgagor (but may be affiliated with the Mortgagor) that collectively, as of the date of origination of the related Mortgage Loan, have assets other than equity in the related Mortgaged Property that are not de minimis) in any of the following events (or negotiated provisions of substantially similar effect): (i) if any petition for bankruptcy, insolvency, dissolution or liquidation pursuant to federal bankruptcy law, or any similar federal or state law, shall be filed by, consented to, or acquiesced in by, the Mortgagor; (ii) the Mortgagor or guarantor shall have solicited or caused to be solicited petitioning creditors to cause an involuntary bankruptcy filing with respect to the Mortgagor or (iii) voluntary transfers of either the Mortgaged Property or controlling equity interests in the Mortgagor made in violation of the Mortgage Loan documents; and (b) contains provisions for recourse against the Mortgagor and guarantor (which is a natural person or persons, or an entity or entities distinct from the Mortgagor (but may be affiliated with the Mortgagor) that collectively, as of the date of origination of the related Mortgage Loan, have assets other than equity in the related Mortgaged Property that are not de minimis), for losses and damages resulting from the following (or negotiated provisions of substantially similar effect): (i) the Mortgagor’s misappropriation of rents after an event of default, security deposits, insurance proceeds, or condemnation awards; (ii) the Mortgagor’s fraud or intentional material misrepresentation; (iii) breaches of the environmental covenants in the Mortgage Loan documents; or (iv) the Mortgagor’s commission of intentional material physical waste at the Mortgaged Property (but, in some cases, only to the extent there is sufficient cash flow generated by the related Mortgaged Property to prevent such waste).

  • Capital Lease Obligations With respect to any Person, the obligations of such Person to pay rent or other amounts under any Capitalized Lease.

  • Guaranty Obligations Unless otherwise specified, the amount of any Guaranty Obligation shall be the lesser of the principal amount of the obligations guaranteed and still outstanding and the maximum amount for which the guaranteeing Person may be liable pursuant to the terms of the instrument embodying such Guaranty Obligation.

  • Payment of Leasehold Obligations Each Borrower shall at all times pay, when and as due, its rental obligations under all leases under which it is a tenant, and shall otherwise comply, in all material respects, with all other terms of such leases and keep them in full force and effect and, at Agent’s request will provide evidence of having done so.

  • Recourse Obligation This Agreement and the Obligations hereunder are fully recourse to the Borrower. Notwithstanding the foregoing, no recourse under or upon any obligation, covenant, or agreement contained in this Agreement shall be had against any officer, director, shareholder or employee of the Borrower except in the event of fraud or misappropriation of funds on the part of such officer, director, shareholder or employee.

  • Debt and Guaranty Obligations Schedule 7.1(t) is a complete and correct listing of all Debt and Guaranty Obligations of the Borrower and its Subsidiaries as of the Closing Date in excess of $1,000,000. The Borrower and its Subsidiaries have performed and are in compliance in all material respects with all of the terms of such Debt and Guaranty Obligations and all instruments and agreements relating thereto, and no default or event of default, or event or condition which with notice or lapse of time or both would constitute such a default or event of default on the part of the Borrower or any of its Subsidiaries exists with respect to any such Debt or Guaranty Obligation.

  • Lease Obligations The Company shall not, and shall not suffer or permit any Subsidiary to, create or suffer to exist any obligations for the payment of rent for any property under lease or agreement to lease, except for:

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