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.
Appears in 2 contracts
Samples: Revolving Facilities Agreement (Molson Coors Brewing Co), Unsecured Uncommitted Revolving Facilities Agreement (Molson Coors Brewing Co)
No Guarantees or indemnities. (a) Except as permitted under paragraph (b) below, no the Borrower shall not (and the Obligors Borrower shall ensure that no member of the Group Member 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 whichwhich is:
(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;
(ii) any performance or similar bond guaranteeing performance by a Group Member under any contract entered into in the ordinary course of trade;
(iii) granted under the Finance Documents; or
(iv) granted under any Permitted Facilities.
Appears in 2 contracts
Samples: Facility Agreement (China TransInfo Technology Corp.), Facility Agreement (Harbin Electric, Inc)
No Guarantees or indemnities. (a) Except as permitted under paragraph (b) below, no the Borrower shall not (and the Obligors Borrower shall ensure that no member of the Group Member 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 whichwhich is:
(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;
(ii) any performance or similar bond guaranteeing performance by a Group Member under any contract entered into in the ordinary course of trade; or
(iii) granted under the Finance Documents.
Appears in 2 contracts
Samples: Facility Agreement (China Security & Surveillance Technology, Inc.), Facility Agreement (China Security & Surveillance Technology, Inc.)
No Guarantees or indemnities. (a) Except as permitted under paragraph (b) below, no the Borrower shall not (and the Obligors Borrower shall ensure that no member of the Group Member 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 whichwhich is:
(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 tradebusiness;
(ii) any performance or similar bond guaranteeing performance by a Group Member under any contract entered into in the ordinary course of business;
(iii) granted under the Finance Documents; or
(iv) granted under any Permitted Facilities.
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