New Subsidiaries Guarantors Clause Samples

New Subsidiaries Guarantors. (a) Requirement to Become Guarantor. Within fifteen (15) days of any Person becoming a Material Subsidiary after the Effective Date, the Borrowers shall deliver to the Agent each of the following items, each in form and substance satisfactory to the Agent: (i) a Joinder Agreement executed by such Material Subsidiary and (ii) the items that would have been delivered under Sections 5.1(a)(iv) through (viii) if such Material Subsidiary had been one on the Effective Date. Additionally, in the event that any Wholly Owned Subsidiary of Parent or GBP, whether presently existing or hereafter formed or acquired, which is not a Guarantor at such time, shall after the date hereof become a guarantor under any existing or future Unsecured Indebtedness of Parent or any other Loan Party, then Borrowers shall cause such Subsidiary to execute and deliver the items described in this Section 7.12(a). At the election of Borrowers, any other Subsidiary of Parent or GBP, whether presently existing or hereafter formed or acquired, which is not a Guarantor at such time, may become a Guarantor by delivering to the Agent each of the items described in this Section 7.12(a). (b)

New Subsidiaries Guarantors. Within 30 days of any Person becoming a Subsidiary after the Effective Date, the Borrower shall deliver to the Agent each of the following items, each in form and substance satisfactory to the Agent: (i) an Accession Agreement executed by such Subsidiary and (ii) the items that would have been delivered under Sections 5.1.(a)(iv)-(xi) and (xi) if such Subsidiary had been one on the Effective Date; provided, however, that neither T&T Corporation, a Georgia corporation nor Franklin Securities shall not be required to be a Guarantor.

New Subsidiaries Guarantors. (a) Requirement to Become Guarantor. Within 10 Business Days of any Person (other than an Excluded Subsidiary or a Subsidiary owning a Non-Controlled Property) becoming a Material Subsidiary after the Effective Date, the Borrower shall deliver to the Agent each of the following items, each in form and substance satisfactory to the Agent: (i) an Accession Agreement executed by such Material Subsidiary and (ii) the items that would have been delivered under Sections 5.1.(a)(iv), (ix) through (xii) and (xvi) if such Material Subsidiary had been one on the Effective Date; provided, however, promptly (and in any event within 10 Business Days) upon (x) any Excluded Subsidiary ceasing to be subject to the restriction which prevented it from becoming a Guarantor on the Effective Date or delivering an Accession Agreement pursuant to this Section, as the case may be, or (y) a Subsidiary ceasing to own any Non-Controlled Properties, such Subsidiary shall comply with the provisions of this Section if then applicable. The Agent shall send to each Lender copies of each of the foregoing items once the Agent has received all such items with respect to a Material Subsidiary.

New Subsidiaries Guarantors of the Credit Agreement is hereby amended and restated to read as follows:

New Subsidiaries Guarantors. Within 30 days of any Person becoming a Domestic Material Subsidiary after the Effective Date, the Borrower shall deliver to the Lender each of the following items, each in form and substance satisfactory to the Lender: (a) an Accession Agreement executed by such Domestic Material Subsidiary; (b) a Subsidiary Security Agreement; and (c) the items that would have been delivered under Sections 5.1.(a)(iv), (v), (vii) through (xii) if such Domestic Subsidiary had been a Domestic Subsidiary on the Effective Date. Additionally, within 30 days of any Person becoming a First-Tier Foreign Material Subsidiary, the Borrower shall deliver to the Lender a Pledge Agreement with respect to such First-Tier Foreign Material Subsidiary.

New Subsidiaries Guarantors. The Borrower shall promptly and diligently take all actions necessary to cause any existing Subsidiary not a Guarantor and that subsequently undertakes to conduct any business or operations, and any new Subsidiary (each a "New Subsidiary") to become a Guarantor under a Guaranty. Within thirty (30) days of being acquired, or in the case of an existing Subsidiary within thirty (30) days of undertaking to conduct any business or operations (the "Grace Period"), such New Subsidiary shall deliver to the Lender an executed Guaranty in the form attached hereto as Exhibit "C", and such other documents as the Lender may reasonably request.

New Subsidiaries Guarantors