Guaranty Requirement. Prior to the Investment Grade Release or during any Collateral Period, to the extent necessary to satisfy the Guaranty Requirement, the Borrower shall cause each Eligible Subsidiary that is not already a Guarantor to become a Guarantor and deliver or cause to be delivered to the Administrative Agent the applicable Subsidiary Guaranty and Pledge Documents on or prior to the earlier of the following dates (or such later date as the Administrative Agent may agree):
Guaranty Requirement. Prior to the Investment Grade Release, to the extent necessary to satisfy the Guaranty Requirement, the Borrower shall cause each Eligible Subsidiary that is not already a Guarantor to become a Guarantor and deliver or cause to be delivered to the Administrative Agent the Subsidiary Guaranty Documents not later than the thirtieth (30th) day following the delivery of a Compliance Certificate pursuant to Section 9.3 (or such later date as the Administrative Agent may agree). As used herein, “Guaranty Requirement” shall mean the requirement that, as of the end of any fiscal quarter occurring prior to the Investment Grade Release, after giving pro forma effect to any Eligible Subsidiary that shall become a Subsidiary Guarantor following such fiscal quarter within the applicable time period provided in this Section 8.14(a), Unencumbered Asset Value attributable to Eligible Properties directly owned in fee simple by, or subject to a Qualified Ground Lease to, the Borrower and the Guarantors and any Subsidiary that directly or indirectly owns the Kxxxxxxxxxxxx Hotel shall not be less than 95% of the total Unencumbered Asset Value as of the last day of such fiscal quarter.
Guaranty Requirement. So long as a Permitted Real Estate Entity is not a guarantor under any Existing Subordinated Notes, any other Subordinated Debt, any senior notes or any other material Indebtedness of a Credit Party, such Permitted Real Estate Entity shall not be required to comply with Section 5.10 of this Credit Agreement and be a Guarantor hereunder.
Guaranty Requirement. 3.5 Investment Rights
Guaranty Requirement. All the Subsidiaries, if any, shall have guaranteed the Term Notes pursuant to a guaranty in form and substance satisfactory to the Purchasers.
Guaranty Requirement. Prior to the Closing Date, Xx. Xxxx Xxxxx shall have guaranteed $250,000 of the Total Investment Amount.
Guaranty Requirement. Seller shall provide Buyer with an executed Guaranty from Guarantor in the form of Exhibit 8 [Guaranty Agreement] on or before the Effective Date. Any failure to provide Buyer with a Guaranty shall be deemed an Event of Default under this Agreement. Seller may at any time in its discretion substitute a letter of credit for the Guaranty by delivering to Buyer an irrevocable, clean, standby letter of credit from a bank having a credit rating of at least A- from S&P or A3 from Xxxxx'x, and otherwise in a form and containing terms, reasonably acceptable to Buyer, in a face amount equal to Guarantor's maximum liability under the Guaranty (depending on whether before or after the Commercial Operation Date, as applicable), whereupon Buyer shall return the Guaranty to Guarantor. For purposes of the foregoing, any such letter of credit shall be deemed “clean” (as such term is used above) if, in order for Buyer to draw down thereunder, Buyer shall be required only to present the original letter of credit to the issuing bank and to execute and deliver to the issuing bank a certificate in a form to be attached to the letter of credit whereby Buyer certifies that it is entitled to draw down thereunder pursuant to the terms of this Agreement.
Guaranty Requirement. Tenant will cause Initial Guarantor to execute a Lease Guaranty contemporaneously with the execution of this Lease.
Guaranty Requirement. The Borrower shall ensure that at all times, (a) the revenue attributable to assets directly or indirectly owned by Holdco 4, Holdco 5, and Holdco 6 do not comprise less than 85% of the revenue of the Consolidated Group with respect to the most recently completed fiscal year and (b) the combined book value of Rigs, whether in use, idle, or otherwise, directly or indirectly owned by Holdco 4, Holdco 5, and Holdco 6, do not comprise less than 85% of the combined book value of all Rigs of the Consolidated Group with respect to the most recently completed fiscal year (the “85% Guaranty Requirement”).
Guaranty Requirement. Xxxxxxx Food Services, Inc. shall have guaranteed the Term Notes pursuant to a guaranty in form and substance satisfactory to the Purchaser.
