Common use of Parent Company Guarantee Clause in Contracts

Parent Company Guarantee. 17.1.1 If the User does not have an Acceptable Credit Rating as at the Effective Date, the User shall cause an Acceptable Guarantor to execute and deliver to the Operator a Parent Company Guarantee on the Effective Date. 17.1.2 If the User has an Acceptable Credit Rating as at the Effective Date but, at any time after the Effective Date, the User subsequently ceases to have an Acceptable Credit Rating, the User shall forthwith cause an Acceptable Guarantor to execute and deliver to the Operator a Parent Company Guarantee. 17.1.3 If neither the User nor any Affiliate of the User has an Acceptable Credit Rating as at the Effective Date, the User shall cause a Guarantor acceptable to the Operator (acting reasonably) to execute and deliver to the Operator a Parent Company Guarantee on the Effective Date.