Common use of New Guaranty Clause in Contracts

New Guaranty. In the event that (a) any Transaction Document is rejected by a trustee or debtor-in-possession in any bankruptcy or insolvency proceeding involving the Borrower or (b) any Transaction Document or this Guaranty is terminated as a result of any bankruptcy or insolvency proceeding involving the Borrower and, if within sixty (60) days after such rejection or termination, the Lender or its designee shall so request and shall certify in writing to the Guarantors that it intends to perform the Obligations of the Borrower as and to the extent required under such Transaction Document or this Guaranty, as applicable, the Guarantors will, unless prohibited by bankruptcy or other applicable law, execute and deliver to the Lender or such designee, a new guaranty that shall contain the same conditions, agreements, terms, provisions and limitations as this Guaranty (except for any requirements which have been fulfilled by the Borrower and the Guarantors prior to such rejection or termination). Sincerely yours,

New Guaranty. In the event that (ai) any Transaction Document Loan Paper is rejected by a trustee or debtor-in-possession in any bankruptcy or insolvency proceeding involving the Borrower or (bii) any Transaction Document Loan Paper or this Guaranty is terminated as a result of any bankruptcy or insolvency proceeding involving the Borrower and, if within sixty (60) days after such rejection or termination, the Lender Administrative Agent or its designee shall so request and shall certify in writing to the Guarantors Guarantor that it intends to perform the Obligations obligations of the Borrower as and to the extent required under such Transaction Document Loan Paper or this Guaranty, as applicable, the Guarantors Guarantor will, unless prohibited by bankruptcy or other applicable law, execute and deliver to the Lender Administrative Agent or such designee, a new guaranty Guaranty that shall contain the same conditions, agreements, terms, provisions and limitations as this such original Guaranty (except for any requirements which have been fulfilled by the Borrower and the Guarantors Guarantor prior to such rejection or termination). Sincerely yours,.

New Guaranty. In the event that (ai) any Transaction Document Loan Paper is rejected by a trustee or debtor-in-possession in any bankruptcy or insolvency proceeding involving the Borrower or (bii) any Transaction Document Loan Paper or this Guaranty is terminated as a result of any bankruptcy or insolvency proceeding involving the Borrower and, if within sixty (60) days after such rejection or termination, the Lender Administrative Agent or its designee shall so request and shall certify in writing to the Guarantors that it intends to perform the Obligations obligations of the Borrower as and to the extent required under such Transaction Document Loan Paper or this Guaranty, as applicable, the Guarantors will, unless prohibited by bankruptcy or other applicable law, execute and deliver to the Lender Administrative Agent or such designee, a new guaranty Guaranty that shall contain the same conditions, agreements, terms, provisions and limitations as this such original Guaranty (except for any requirements which have been fulfilled by the Borrower and the Guarantors Guarantor prior to such rejection or termination). Sincerely yours,.