No Guarantees or indemnities. (a) Except as permitted under paragraph (b) below, no Obligor shall (and the Obligors shall ensure that no member of the Group will) incur or allow to remain outstanding any guarantee in respect of any obligation of any person.
(b) Paragraph (a) does not apply to a guarantee which is a Permitted Guarantee.
No Guarantees or indemnities. No Borrower shall incur or allow to remain outstanding any guarantee in respect of any obligation of any person.
No Guarantees or indemnities. (a) Except as permitted under paragraph (b) below, Borrower shall not (and shall ensure that no other member of the Group will) incur or allow to remain outstanding any guarantee or guarantees in respect of any obligation of any person where the maximum aggregate contingent liability of the Group under all such guarantees exceeds $5,000,000 at any time.
(b) Paragraph (a) does not apply to a guarantee which is:
(i) a Permitted Guarantee; or
(ii) a Permitted Transaction.
No Guarantees or indemnities. (a) No Obligor shall (and the Company shall ensure that no member of the Group will) incur or allow to remain outstanding any guarantee in respect of any obligation of any person.
(b) Clause 26.16(a) does not apply to a Permitted Guarantee.
No Guarantees or indemnities. Except as permitted under paragraph (b) below, no Obligor shall (and the Issuer shall ensure that no other Group Company will) incur or allow to remain outstanding any guarantee in respect of any obligation of any person.
No Guarantees or indemnities. (a) Except as permitted under paragraph (b) below, no Borrower shall (and the Obligors shall ensure that no member of the Group will) incur or allow to remain outstanding any guarantee in respect of any obligation of any person.
(b) Paragraph (a) does not apply to a guarantee which:
(i) arises under any Finance Document;
(ii) is given in respect of the Ancillary Outstandings; or
(iii) is the endorsement of negotiable instruments in the ordinary course of trade.
No Guarantees or indemnities. 22.17.1 Except as permitted under Clause 22.17.2, no Obligor shall incur or allow to remain outstanding any guarantee in respect of any obligation of any person.
22.17.2 Clause 22.17.1 does not apply to a guarantee which is a Permitted Guarantee.
No Guarantees or indemnities. (a) No Obligor shall (and the Parent Guarantor shall ensure no member of the Group will) incur or allow to remain outstanding any guarantee in respect of any obligation of any Person.
(b) Section 9.17(a) does not apply to a Permitted Guarantee.
No Guarantees or indemnities. (a) Except as permitted under paragraphs (b) and (c) below, no Obligor shall (and the Company shall ensure that no other member of the Group will) without the prior written consent of the Facility Agent acting on the instructions of all Lenders incur or allow to remain outstanding any guarantee in respect of any obligation of any person .
(b) Paragraph (a) does not apply to a guarantee which is:
(i) any performance or similar bond guaranteeing performance by a member of the Group under any contract entered into in the ordinary course of trade;
(ii) in respect of the obligations of members of the Group which are Single Purpose Ship Owning Companies, subject to an aggregate total value of all such guarantees throughout the Group at any time of $25,000,000; or
(iii) granted by Aegean Marine Petroleum Network Inc. in respect of any Bridge Financing which is expressly permitted pursuant to clause 24.18(a) (Financial Indebtedness).
(c) An Obligor and/or other member of the Group shall be entitled to incur or allow to remain outstanding a guarantee in respect of the obligations of members of the Group which are Single Purpose Ship Owning Companies of an aggregate total of all such guarantees (throughout the Group at any time) in excess $25,000,000 with the prior written consent of the Facility Agent acting on the instructions of the Majority Lenders (such consent to be confirmed or declined within fifteen (15) Business Days of receipt by the Facility Agent of a request in writing by the Company).
(d) To the extent the Facility Agent acting on the instructions of the Majority Lenders consents in writing to any guarantee pursuant to clause 24.17(c) (No Guarantees or indemnities) (including pursuant to the Consent Letters), then subject to any terms and conditions attached to such consent, the guarantee shall (unless the relevant consent expressly states to the contrary) not be considered to form part of the $25,000,000 referred to in paragraph (c) above (it shall be considered to have been consented to absolutely).
No Guarantees or indemnities. No Borrower shall (and shall procure that no other Security Party (other than the Guarantor) will) incur or allow to remain outstanding any guarantee in respect of any obligation of any person.
