Common use of INVALIDITY OF SUBSIDIARY GUARANTY Clause in Contracts

INVALIDITY OF SUBSIDIARY GUARANTY. Upon execution and delivery thereof, the Subsidiary Guaranty for any reason, other than the satisfaction in full of all Obligations, ceases to be in full force and effect (other than in accordance with its terms) or is declared to be null and void, or any Loan Party denies that it has any further liability, including without limitation with respect to future advances by Lenders, under any Loan Document to which it is a party, or gives notice to such effect; or

Appears in 2 contracts

Samples: Credit Agreement (Wavetek U S Inc), Credit Agreement (Smiths Food & Drug Centers Inc)

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INVALIDITY OF SUBSIDIARY GUARANTY. Upon execution and delivery thereof, the The Subsidiary Guaranty for any reason, other than the satisfaction in full of all ObligationsObligations or the release of the Subsidiary Guaranty in accordance with its terms and the terms of this Agreement, ceases to be in full force and effect (other than in accordance with its terms) or is declared to be null and void, or any Loan Party denies that it has any further liability, including including, without limitation limitation, with respect to future advances by Lenders, under any Term Loan Document to which it is a party, or gives notice to such effect; or

Appears in 1 contract

Samples: Term Loan Agreement (Loews Cineplex Entertainment Corp)

INVALIDITY OF SUBSIDIARY GUARANTY. Upon execution and delivery thereof, the The Subsidiary Guaranty for any reason, other than the satisfaction in full of all Obligations, ceases to be in full force and effect (other than in accordance with its terms) or is declared to be null and void, or any Loan Party denies that it has any further liability, including without limitation with respect to future advances by Lenders, under any Loan Document to which it is a party, or gives notice to such effect; or

Appears in 1 contract

Samples: Credit Agreement (Smiths Food & Drug Centers Inc)

INVALIDITY OF SUBSIDIARY GUARANTY. Upon execution and delivery thereof, the Subsidiary Guaranty for any reason, other than the satisfaction in full of all Obligations, ceases to be in full force and effect (other than in accordance with its terms) or is declared to be null and void, or any Loan Party contests the validity or enforceability of any Loan Document in writing or denies in writing that it has any further liability, including without limitation with respect to future advances by Lenders, under any Loan Document to which it is a party, or gives notice to such effect; or

Appears in 1 contract

Samples: Credit Agreement (Sunrise Medical Inc)

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INVALIDITY OF SUBSIDIARY GUARANTY. Upon execution and delivery thereof, the Subsidiary Guaranty for any reason, other than the satisfaction in full of all Obligations, ceases to be in full force and effect as to any Subsidiary Guarantor (other than in accordance with its terms) or is declared to be null and void, or any Loan Party Subsidiary Guarantor denies in writing that it has any further liability, including without limitation with respect to future advances by Lenders, under any Loan Document to which it is a party, or gives notice to such effectthe Subsidiary Guaranty; or

Appears in 1 contract

Samples: Credit Agreement (Dictaphone Corp /De)

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