Common use of Payment by Guarantors; Application of Payments Clause in Contracts

Payment by Guarantors; Application of Payments. In furtherance of the foregoing and not in limitation of any other right that the Administrative Agent, any Lender or any L/C Issuer has at law or in equity against any Guarantor by virtue hereof, upon the failure of any Borrower to pay any Guaranteed Obligation when and as the same shall become due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code), each Guarantor hereby promises to and will forthwith pay, or cause to be paid, to the Administrative Agent, the Lenders or the L/C Issuers (or any Affiliate of a US Lender in the case of a Specified Swap Contract) as designated thereby, in cash such Guaranteed Obligation. Except as otherwise expressly provided herein, all payments by any Guarantor hereunder shall be made to the Administrative Agent, for the account of the Lenders or the applicable L/C Issuer at the Administrative Agent’s Payment Office in Dollars. Payments received from any Guarantor shall, unless otherwise expressly provided herein, be applied: First, to payment of any fees, costs or out-of-pocket expenses (including Attorney Costs) incurred by the Administrative Agent in connection with the exercise, enforcement or protection of any of the rights of the Administrative Agent, the Lenders and the L/C Issuers under this Guaranty; and Second, to payment in full of the Guaranteed Obligations (to the extent not included in clause First above) in accordance with Section 8.03 of the Credit Agreement. The Administrative Agent shall have absolute discretion as to the time of application of any payments received from any Guarantor.

Appears in 2 contracts

Samples: Credit Agreement (Schnitzer Steel Industries Inc), Credit Agreement (Schnitzer Steel Industries Inc)

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Payment by Guarantors; Application of Payments. In Subject to the provisions of subsection 2.2(a), Guarantors hereby jointly and severally agree, in furtherance of the foregoing and not in limitation of any other right that the Administrative Agent, any Lender which Agent or any L/C Issuer has other Person may have at law or in equity against any Guarantor by virtue hereof, that upon the failure of any the Borrower to pay any Guaranteed Obligation of the Guarantied Obligations when and as the same shall become due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), each Guarantor hereby promises to and Guarantors will forthwith upon demand by Requisite Lenders or Agent (acting on behalf of Requisite Lenders) pay, or cause to be paid, in cash, to Agent for the ratable benefit of Lenders, an amount equal to the Administrative Agentsum of the unpaid principal amount of all Guarantied Obligations then due as aforesaid, accrued and unpaid interest on such Guarantied Obligations (including, without limitation, interest which, but for the Lenders or the L/C Issuers (or any Affiliate filing of a US Lender petition in bankruptcy with respect to the case of Borrower, would have accrued on such Guarantied Obligations, whether or not a Specified Swap Contractclaim is allowed against the Borrower for such interest in any such bankruptcy proceeding) and all other Guarantied Obligations then owed to Agent and/or Lenders as designated thereby, in cash aforesaid. All such Guaranteed Obligation. Except as otherwise expressly provided herein, all payments by any Guarantor hereunder shall be made applied promptly from time to the Administrative time by Agent, for the account of the Lenders or the applicable L/C Issuer at the Administrative Agent’s Payment Office in Dollars. Payments received from any Guarantor shall, unless otherwise expressly provided herein, be applied: First, to the payment of the costs and expenses of any feescollection or other realization under this Guaranty, costs including reasonable compensation to Agent and its agents and counsel, and all expenses, liabilities and advances made or out-of-pocket expenses (including Attorney Costs) incurred by the Administrative Agent in connection with the exercise, enforcement or protection of any of the rights of the Administrative Agent, the Lenders and the L/C Issuers under this Guaranty; and Second, to payment in full of the Guaranteed Obligations (to the extent not included in clause First above) in accordance with Section 8.03 of the Credit Agreement. The Administrative Agent shall have absolute discretion as to the time of application of any payments received from any Guarantor.therewith;

Appears in 1 contract

Samples: Credit Agreement (FWT Inc)

Payment by Guarantors; Application of Payments. In furtherance of the foregoing and not in limitation of any other right that the Administrative Agent, Agent or any Lender or any L/C Issuer has at law or in equity against any Guarantor by virtue hereof, upon the failure of any the Borrower to pay any Guaranteed Obligation when and as the same shall become due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code), each Guarantor hereby promises to and will forthwith pay, or cause to be paid, to the Administrative Agent, Agent or the Lenders or the L/C Issuers (or any Affiliate of a US Lender in the case of a Specified Swap Contract) as designated thereby, in cash such Guaranteed Obligation. Except as otherwise expressly provided herein, all payments by any Guarantor hereunder shall be made to the Administrative Agent, for the account of the Lenders or the applicable L/C Issuer at the Administrative Agent’s Payment Office in Dollars. Payments received from any Guarantor shall, unless otherwise expressly provided herein, be applied: First, to payment of any fees, costs or out-of-pocket expenses (including Attorney Costsfees, charges and disbursements of counsel to Administrative Agent, including fees and time charges for attorneys who may be employees of Administrative Agent) incurred by the Administrative Agent in connection with the exercise, enforcement or protection of any of the rights of the Administrative Agent, Agent and the Lenders and the L/C Issuers under this Guaranty; and Second, to payment in full of the Guaranteed Obligations (to the extent not included in clause First above) in accordance with Section 8.03 of the Credit Agreement. The Administrative Agent shall have absolute discretion as to the time of application of any payments received from any Guarantor.

Appears in 1 contract

Samples: Guaranty Agreement (Shurgard Storage Centers Inc)

Payment by Guarantors; Application of Payments. In Subject to the provisions of subsection 2.2(a), Guarantors hereby jointly and severally agree, in furtherance of the foregoing and not in limitation of any other right that the Administrative Agent, any Lender which Collateral Agent or any L/C Issuer has other Person may have at law or in equity against any Guarantor by virtue hereof, that upon the failure of any Borrower Company to pay any Guaranteed Obligation of the Guarantied Obligations when and as the same shall become due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), each Guarantor hereby promises to and Guarantors will forthwith upon demand pay, or cause to be paid, in cash, to Collateral Agent for the benefit of Guarantied Parties as provided in the Intercreditor Agreement, an amount equal to the Administrative Agentsum of the unpaid principal amount of all Guarantied Obligations then due as aforesaid, accrued and unpaid interest on such Guarantied Obligations (including, without limitation, interest which, but for the Lenders or the L/C Issuers (or any Affiliate filing of a US Lender petition in the case of bankruptcy with respect to Company, would have accrued on such Guarantied Obligations, whether or not a Specified Swap Contractclaim is allowed against Company for such interest in any such bankruptcy proceeding) and all other Guarantied Obligations then owed to Guarantied Parties as designated thereby, in cash aforesaid. All such Guaranteed Obligation. Except as otherwise expressly provided herein, all payments by any Guarantor hereunder shall be made applied promptly from time to the Administrative time by Agent, for the account of the Lenders or the applicable L/C Issuer at the Administrative Agent’s Payment Office in Dollars. Payments received from any Guarantor shall, unless otherwise expressly provided herein, be applied: First, to the payment of the costs and expenses of any feescollection or other realization under this Guaranty, costs including reasonable fees and expenses of Collateral Agent and its agents and counsel, and all expenses, liabilities and advances made or out-of-pocket expenses (including Attorney Costs) incurred by the Administrative Collateral Agent in connection with the exercise, enforcement or protection of any of the rights of the Administrative Agent, the Lenders and the L/C Issuers under this Guarantytherewith; and Second, to the payment of all other Guarantied Obligations as provided in Section 4 of the Intercreditor Agreement; and Third, after payment in full of the Guaranteed Obligations (all Guarantied Obligations, to the extent not included in clause First above) in accordance with Section 8.03 payment to Guarantors, or their respective successors or assigns, or to whomsoever may be lawfully entitled to receive the same or as a court of the Credit Agreement. The Administrative Agent shall have absolute discretion as to the time of application competent jurisdiction may direct, of any payments received surplus then remaining from any Guarantorsuch payments.

Appears in 1 contract

Samples: Credit Agreement (Dictaphone Corp /De)

Payment by Guarantors; Application of Payments. In furtherance of the foregoing and not in limitation of any other right that the Administrative Agent, Agent or any Lender or any L/C Issuer has at law or in equity against any Guarantor by virtue hereof, upon the failure of any the Borrower to pay any Guaranteed Obligation when and as the same shall become due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code), each Guarantor hereby promises to and will forthwith pay, or cause to be paid, to the Administrative Agent, Agent or the Lenders or the L/C Issuers (or any Affiliate of a US Lender in the case of a Specified Swap Contract) as designated thereby, in cash such Guaranteed Obligation. Except as otherwise expressly provided herein, all payments by any Guarantor hereunder shall be made to the Administrative Agent, for the account of the Lenders or the applicable L/C Issuer at the Administrative Agent’s Payment Office payment office in Dollars. Payments received from any Guarantor shall, unless otherwise expressly provided herein, be applied: First, to payment of any fees, costs or out-of-pocket expenses (including Attorney Costsattorneys’ fees and costs) incurred by the Administrative Agent in connection with the exercise, enforcement or protection of any of the rights of the Administrative Agent, Agent and the Lenders and the L/C Issuers under this Guaranty; and Second, to payment in full of the Guaranteed Obligations (to the extent not included in clause First above) in accordance with Section 8.03 of the Credit Agreement. The Administrative Agent shall have absolute discretion as to the time of application of any payments received from any Guarantor.

Appears in 1 contract

Samples: Security Agreement (Flow International Corp)

Payment by Guarantors; Application of Payments. In Subject to the provisions of subsection 2.2(a), Guarantors hereby jointly and severally agree, in furtherance of the foregoing and not in limitation of any other right that the Administrative Agent, any Lender which Agent or any L/C Issuer has other Person may have at law or in equity against any Guarantor by virtue hereof, that upon the failure of any Borrower Company to pay any Guaranteed Obligation of the Guarantied Obligations when and as the same shall become due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. article 362(a), each Guarantor hereby promises to and or any successor statute), Guarantors will forthwith upon demand pay, or cause to be paid, in cash, to Agent for the ratable benefit of Lenders, an amount equal to the Administrative Agentsum of the unpaid principal amount of all Guarantied Obligations then due as aforesaid, accrued and unpaid interest on such Guarantied Obligations (including, without limitation, interest which, but for the Lenders or the L/C Issuers (or any Affiliate filing of a US Lender petition in the case of bankruptcy with respect to Company, would have accrued on such Guarantied Obligations, whether or not a Specified Swap Contractclaim is allowed against Company for such interest in any such bankruptcy proceeding) and all other Guarantied Obligations then owed to Agent and/or Lenders as designated thereby, in cash aforesaid. All such Guaranteed Obligation. Except as otherwise expressly provided herein, all payments by any Guarantor hereunder shall be made applied promptly from time to the Administrative time by Agent, for the account of the Lenders or the applicable L/C Issuer at the Administrative Agent’s Payment Office in Dollars. Payments received from any Guarantor shall, unless otherwise expressly provided herein, be applied: First, to the payment of the costs and expenses of any feescollection or other realization under this Guaranty, costs including reasonable compensation to Agent and its agents and counsel, and all expenses, liabilities and advances made or out-of-pocket expenses (including Attorney Costs) incurred by the Administrative Agent in connection with the exercise, enforcement or protection of any of the rights of the Administrative Agent, the Lenders and the L/C Issuers under this Guarantytherewith; and Second, to the payment of all other Guarantied Obligations in such order as Agent shall elect; and Third, after payment in full of the Guaranteed Obligations (all Guarantied Obligations, to the extent not included in clause First above) in accordance with Section 8.03 payment to Guarantors, or their respective successors or assigns, or to whomsoever may be lawfully entitled to receive the same or as a court of the Credit Agreement. The Administrative Agent shall have absolute discretion as to the time of application competent jurisdiction may direct, of any payments received surplus then remaining from any Guarantor.such payments. 2.4

Appears in 1 contract

Samples: Security Agreement (Smith Corona Corp)

Payment by Guarantors; Application of Payments. In Subject to the ---------------------------------------------- provisions of subsection 2.2(a), Guarantors hereby jointly and severally agree, in furtherance of the foregoing and not in limitation of any other right that the Administrative Agent, which any Lender or any L/C Issuer has Beneficiary may have at law or in equity against any Guarantor by virtue hereof, that upon the failure of any Borrower to pay any Guaranteed Obligation of the Guarantied Obligations when and as the same shall become due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. (S) 362(a)), each Guarantor hereby promises to and Guarantors will forthwith upon demand pay, or cause to be paid, in cash, to Collateral Agent for the benefit of Beneficiaries, an amount equal to the Administrative Agentsum of the unpaid principal amount of all Guarantied Obligations then due as aforesaid, accrued and unpaid interest on such Guarantied Obligations (including, without limitation, interest which, but for the Lenders or the L/C Issuers (or any Affiliate filing of a US Lender petition in bankruptcy with respect to Borrower, would have accrued on such Guarantied Obligations, whether or not a claim is allowed against Borrower for such interest in the case of a Specified Swap Contractrelated bankruptcy proceeding) and all other Guarantied Obligations then owed to Beneficiaries as designated thereby, in cash aforesaid. All such Guaranteed Obligation. Except as otherwise expressly provided herein, all payments by any Guarantor hereunder shall be made applied promptly from time to the Administrative time by Collateral Agent, for the account of the Lenders or the applicable L/C Issuer at the Administrative Agent’s Payment Office in Dollars. Payments received from any Guarantor shall, unless otherwise expressly provided herein, be applied: First, to the payment of the costs and expenses of any feescollection or ----- other realization under this Guaranty, costs including reasonable compensation to Collateral Agent and its agents and counsel, and all expenses, liabilities and advances made or out-of-pocket expenses (including Attorney Costs) incurred by the Administrative Collateral Agent in connection with the exercise, enforcement or protection of any of the rights of the Administrative Agent, the Lenders and the L/C Issuers under this Guarantytherewith; and Second, to the payment of all other Guarantied Obligations in the ------ order described in Section 3 of the Intercreditor Agreement; and Third, after payment in full of the Guaranteed Obligations (all Guarantied Obligations, to the extent not included in clause First above) in accordance with Section 8.03 ----- payment to Guarantors, or their respective successors or assigns, or to whomsoever may be lawfully entitled to receive the same or as a court of the Credit Agreement. The Administrative Agent shall have absolute discretion as to the time of application competent jurisdiction may direct, of any payments received surplus then remaining from any Guarantorsuch payments.

Appears in 1 contract

Samples: Subsidiary Guaranty (Total Renal Care Holdings Inc)

Payment by Guarantors; Application of Payments. In Subject to the provisions of Section 2.2(a), the Guarantors hereby jointly and severally agree, in furtherance of the foregoing and not in limitation of any other right that which the Administrative Agent, any Lender or any L/C Issuer has Secured Party may have at law or in equity against any Guarantor by virtue hereof, that upon the failure of any Borrower Company Party to pay any of the Guaranteed Obligation Obligations when and as the same shall become due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including amounts that would become due or would otherwise accrue but for the operation provisions of the automatic stay under Section 362(a) of the any Bankruptcy CodeLaw), each Guarantor hereby promises to and the Guarantors will forthwith upon demand pay, or cause to be paid, in cash, to the Administrative AgentSecured Party for the ratable benefit of the Holders, an amount equal to the Lenders or sum of the L/C Issuers unpaid principal amount of all Guaranteed Obligations then due as aforesaid, accrued and unpaid interest on such Guaranteed Obligations (or any Affiliate including interest which, but for the filing of a US Lender petition in bankruptcy with respect to such Company Party, would have accrued on such Guaranteed Obligations, whether or not a claim is allowed against such Company Party for such interest in the case of a Specified Swap Contractrelated bankruptcy proceeding) and all other Guaranteed Obligations then owed to the Holders as designated thereby, in cash aforesaid. All such Guaranteed Obligation. Except as otherwise expressly provided herein, all payments by any Guarantor hereunder shall be made applied promptly from time to time by the Secured Party as set forth in the Note Documents. For the avoidance of doubt, notwithstanding any other provision of any Note Document to the Administrative Agentcontrary, for the account of the Lenders or the applicable L/C Issuer at the Administrative Agent’s Payment Office in Dollars. Payments no such payment received from any Guarantor shall, unless otherwise expressly provided herein, that is not a Qualified ECP Guarantor shall be applied: First, applied by the Secured Party or any Holder to the payment of any fees, costs or out-of-pocket expenses (including Attorney Costs) incurred by the Administrative Agent in connection with the exercise, enforcement or protection of any of the rights of the Administrative Agent, the Lenders and the L/C Issuers under this Guaranty; and Second, to payment in full of the Guaranteed Obligations (to the extent not included in clause First above) in accordance with Section 8.03 of the Credit Agreement. The Administrative Agent shall have absolute discretion as to the time of application of any payments received from any GuarantorExcluded Swap Obligations.

Appears in 1 contract

Samples: Subsidiary Guaranty (Workhorse Group Inc.)

Payment by Guarantors; Application of Payments. In furtherance of the foregoing and not in limitation of any other right that the Administrative Agent, Agent or any Lender or any L/C Issuer has at law or in equity against any Guarantor by virtue hereof, upon the failure of any the Borrower to pay any Guaranteed Obligation when and as the same shall become due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code), each Guarantor hereby promises to and will forthwith pay, or cause to be paid, to the Administrative Agent, Agent or the Lenders or the L/C Issuers (or any Affiliate of a US Lender in the case of a Specified Swap Contract) as designated thereby, in cash such Guaranteed Obligation. Except as otherwise expressly provided herein, all payments by any Guarantor hereunder shall be made to the Administrative Agent, for the account of the Lenders or the applicable L/C Issuer at the Administrative Agent’s Payment Office payment office in Dollars. Payments received from any Guarantor shall, unless otherwise expressly provided herein, be applied: Form of Guarantor Pledge Agreement First, to payment of any fees, costs or out-of-pocket expenses (including Attorney Costsattorneys’ fees and costs) incurred by the Administrative Agent in connection with the exercise, enforcement or protection of any of the rights of the Administrative Agent, Agent and the Lenders and the L/C Issuers under this Guaranty; and Second, to payment in full of the Guaranteed Obligations (to the extent not included in clause First above) in accordance with Section 8.03 of the Credit Agreement. The Administrative Agent shall have absolute discretion as to the time of application of any payments received from any Guarantor.

Appears in 1 contract

Samples: Credit Agreement (Flow International Corp)

Payment by Guarantors; Application of Payments. In Subject to the provisions of Section 2.2(a), the Guarantors hereby jointly and severally agree, in furtherance of the foregoing and not in limitation of any other right that the Administrative Agent, which any Lender or any L/C Issuer has Secured Party may have at law or in equity against any Guarantor by virtue hereof, that upon the failure of any Borrower Loan Party to pay any of the Guaranteed Obligation Obligations when and as the same shall become due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code), each Guarantor hereby promises to and the Guarantors will forthwith upon demand (or automatically upon the occurrence of any Event of Default under Section 7.01(h) or Section 7.01(i) of the Credit Agreement) pay, or cause to be paid, in cash, to the Administrative AgentAgent for the ratable benefit of the Secured Parties, an amount equal to the Lenders or sum of the L/C Issuers unpaid principal amount of all Guaranteed Obligations then due as aforesaid, accrued and unpaid interest on such Guaranteed Obligations (or any Affiliate including interest which, but for the filing of a US Lender petition in bankruptcy with respect to such Loan Party, would have accrued on such Guaranteed Obligations, whether or not a claim is allowed against such Loan Party for such interest in the case of a Specified Swap Contractrelated bankruptcy proceeding) and all other Guaranteed Obligations then owed to the Secured Parties as designated thereby, in cash aforesaid. All such Guaranteed Obligation. Except as otherwise expressly provided herein, all payments by any Guarantor hereunder shall be made applied promptly from time to time by the Administrative Agent as set forth in the Credit Agreement. For the avoidance of doubt, notwithstanding any other provision of any Loan Document to the Administrative Agentcontrary, for the account of the Lenders or the applicable L/C Issuer at the Administrative Agent’s Payment Office in Dollars. Payments no such payment received from any Guarantor shall, unless otherwise expressly provided herein, that is not a Qualified ECP Guarantor shall be applied: First, to payment of any fees, costs or out-of-pocket expenses (including Attorney Costs) incurred applied by the Administrative Agent in connection with or any other Secured Party to the exercise, enforcement or protection payment of any of the rights of the Administrative Agent, the Lenders and the L/C Issuers under this Guaranty; and Second, to payment in full of the Guaranteed Obligations (to the extent not included in clause First above) in accordance with Section 8.03 of the Credit Agreement. The Administrative Agent shall have absolute discretion as to the time of application of any payments received from any GuarantorExcluded Swap Obligations.

Appears in 1 contract

Samples: Subsidiary Guaranty (Empire Resorts Inc)

Payment by Guarantors; Application of Payments. In Subject to the ---------------------------------------------- provisions of subsection 2.2(a), Guarantors hereby jointly and severally agree, in furtherance of the foregoing and not in limitation of any other right that the Administrative Agent, which any Lender or any L/C Issuer has Beneficiary may have at law or in equity against any Guarantor by virtue hereof, that upon the failure of any Borrower to pay any Guaranteed Obligation of the Guarantied Obligations when and as the same shall become due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. (S) 362(a)), each Guarantor hereby promises to and Guarantors will forthwith upon demand pay, or cause to be paid, in cash, to Collateral Agent for the benefit of Beneficiaries, an amount equal to the Administrative Agentsum of the unpaid principal amount of all Guarantied Obligations then due as aforesaid, accrued and unpaid interest on such Guarantied Obligations (including, without limitation, interest which, but for the Lenders or the L/C Issuers (or any Affiliate filing of a US Lender petition in bankruptcy with respect to Borrower, would have accrued on such Guarantied Obligations, whether or not a claim is allowed against Borrower for such interest in the case of a Specified Swap Contractrelated bankruptcy proceeding) and all other Guarantied Obligations then owed to Beneficiaries as designated thereby, in cash aforesaid. All such Guaranteed Obligation. Except as otherwise expressly provided herein, all payments by any Guarantor hereunder shall be made applied promptly from time to the Administrative time by Collateral Agent, for the account of the Lenders or the applicable L/C Issuer at the Administrative Agent’s Payment Office in Dollars. Payments received from any Guarantor shall, unless otherwise expressly provided herein, be applied: First, to the payment of the costs and expenses of any feescollection or ----- other realization under this Guaranty, costs including reasonable compensation to Collateral Agent and its agents and counsel, and all expenses, liabilities and advances made or out-of-pocket expenses (including Attorney Costs) incurred by the Administrative Collateral Agent in connection with the exercise, enforcement or protection of any of the rights of the Administrative Agent, the Lenders and the L/C Issuers under this Guarantytherewith; and Second, to the payment of all other Guarantied Obligations in the ------ order described in subsection 3 of the Intercreditor Agreement; and Third, after payment in full of the Guaranteed Obligations (all Guarantied Obligations, to the extent not included in clause First above) in accordance with Section 8.03 ----- payment to Guarantors, or their respective successors or assigns, or to whomsoever may be lawfully entitled to receive the same or as a court of the Credit Agreement. The Administrative Agent shall have absolute discretion as to the time of application competent jurisdiction may direct, of any payments received surplus then remaining from any Guarantorsuch payments.

Appears in 1 contract

Samples: Subsidiary Guaranty (Total Renal Care Holdings Inc)

Payment by Guarantors; Application of Payments. In Subject to the provisions of subsection 2.2(a), Guarantors hereby jointly and severally agree, in furtherance of the foregoing and not in limitation of any other right that the Administrative Agent, any Lender which Agent or any L/C Issuer has other Person may have at law or in equity against any Guarantor by virtue hereof, that upon the failure of any Borrower Company to pay any Guaranteed Obligation of the Guarantied Obligations when and as the same shall become due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), each Guarantor hereby promises to any and all Guarantors will forthwith upon demand pay, or cause to be paid, in cash, to Agent for the ratable benefit of the applicable Guarantied Parties, an amount equal to the Administrative Agentsum of the unpaid principal amount of all Guarantied Obligations then due as aforesaid, accrued and unpaid interest on such Guarantied Obligations and on all other Guarantied Obligations on which interest has accrued pursuant to the Lenders or terms of the L/C Issuers Loan Documents (or any Affiliate including, without limitation, interest which, but for the filing of a US Lender petition in bankruptcy with respect to Company, would have accrued on such Guarantied Obligations, whether or not a claim is allowed against Company for such interest in any such bankruptcy proceeding) and all other Guarantied Obligations then owed to Agent and/or the case of a Specified Swap Contract) applicable Guarantied Parties as designated thereby, in cash aforesaid. All such Guaranteed Obligation. Except as otherwise expressly provided herein, all payments by any Guarantor hereunder shall be made applied promptly from time to the Administrative time by Agent, for the account of the Lenders or the applicable L/C Issuer at the Administrative Agent’s Payment Office in Dollars. Payments received from any Guarantor shall, unless otherwise expressly provided herein, be applied: First, to the payment of the reasonable costs and expenses of any feescollection or other realization under this Guaranty, costs including reasonable compensation to Agent and its agents and counsel, and all reasonable expenses, liabilities and advances made or out-of-pocket expenses (including Attorney Costs) incurred by the Administrative Agent in connection with the exercise, enforcement or protection of any of the rights of the Administrative Agent, the Lenders and the L/C Issuers under this Guarantytherewith; and Second, to the ratable payment of all other Guarantied Obligations then due and payable in such order as Agent shall elect; and 337 Third, after payment in full of the Guaranteed all Guarantied Obligations (other than Obligations which are contingent and unliquidated and not due and owing on such date and which pursuant to the extent not included in clause First above) in accordance with Section 8.03 provisions of the Credit Agreement. The Administrative Agent shall have absolute discretion as , Interest Rate Agreements, Letters of Credit or the Loan Documents survive the termination of the Credit Agreement, the repayment of the Guarantied Obligations, the termination of the Commitments, the expiration or cancellation of all Letters of Credit or the termination, expiration or cancellation of all Interest Rate Agreements), to the time payment to Guarantors, or their respective successors or assigns, or to whomsoever may be lawfully entitled to receive the same or as a court of application competent jurisdiction may direct, of any payments received surplus then remaining from any Guarantorsuch payments.

Appears in 1 contract

Samples: Credit Agreement (Dominicks Supermarkets Inc)

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Payment by Guarantors; Application of Payments. In Subject to the provisions of subsection 2.3(a), Guarantors hereby jointly and severally agree, in furtherance of the foregoing and not in limitation of any other right that the Administrative Agent, which any Lender or any L/C Issuer has Noteholder may have at law or in equity against any Guarantor by virtue hereof, that upon any of the failure of any Borrower to pay any Guaranteed Obligation when and as the same shall become Guarantied Obligations becoming due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. § 362(a)), each Guarantor hereby promises to and will forthwith Guarantors will, upon demand of the Required Holders, pay, or cause to be paid, in cash, to the Administrative AgentNoteholders, an amount equal to the Lenders or sum of the L/C Issuers unpaid principal amount of all Guarantied Obligations then due as aforesaid, accrued and unpaid interest on such Guarantied Obligations (or any Affiliate including, without limitation, interest which, but for the filing of a US Lender petition in bankruptcy with respect to the Company, would have accrued on such Guarantied Obligations, whether or not a claim is allowed against the Company for such interest in the case of a Specified Swap Contractrelated bankruptcy proceeding) as designated thereby, in cash such Guaranteed Obligation. Except as otherwise expressly provided herein, and all payments by any Guarantor hereunder shall be made other Guarantied Obligations then owed to the Administrative Agent, for the account of the Lenders or the applicable L/C Issuer at the Administrative Agent’s Payment Office in DollarsNoteholders as aforesaid. Payments received from any Guarantor shall, unless otherwise expressly provided herein, be applied: First, to payment of any fees, costs or out-of-pocket expenses (including Attorney Costs) incurred by the Administrative Agent in connection with the exercise, enforcement or protection of any of the rights of the Administrative Agent, the Lenders and the L/C Issuers under this Guaranty; and Second, to After payment in full of all Guarantied Obligations, any remaining surplus amounts from such payments shall be paid to Guarantors, or their respective successors or assigns, or to whomsoever may be lawfully entitled to receive the Guaranteed Obligations (to the extent not included in clause First above) in accordance with Section 8.03 same or as a court of the Credit Agreement. The Administrative Agent shall have absolute discretion as to the time of application of any payments received from any Guarantorcompetent jurisdiction may direct.

Appears in 1 contract

Samples: Subsidiary Guaranty (Parsons Corp)

Payment by Guarantors; Application of Payments. In Subject to the provisions of subsection 2.2(a), Guarantors hereby agree, jointly and severally, in furtherance of the foregoing and not in limitation of any other right that the Administrative Agent, any Lender which Agent or any L/C Issuer has other Person may have at law or in equity against any Guarantor by virtue hereof, that upon the failure of any Borrower to pay any of the Guaranteed Obligation Obligations when and as the same shall become due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a)), each Guarantor hereby promises to and Guarantors will forthwith pay, or cause to be paid, in cash, to Agent for the ratable benefit of Lenders, an amount equal to the Administrative Agentsum of the unpaid principal amount of all Guaranteed Obligations then due as aforesaid, accrued and unpaid interest on such Guaranteed Obligations (including, without limitation, interest which, but for the Lenders or the L/C Issuers (or any Affiliate filing of a US Lender petition in the case of a Specified Swap Contract) as designated therebybankruptcy with respect to any Borrower, in cash would have accrued on such Guaranteed ObligationObligations, whether or not a claim is allowed against any Borrower for such interest in any such bankruptcy proceeding) and all other Guaranteed Obligations then owed to Agent and/or Lenders as aforesaid. Except as otherwise expressly provided herein, all All such payments by any Guarantor hereunder shall be made applied promptly from time to time by Agent: FIRST, to the Administrative Agent, for the account payment of the Lenders or the applicable L/C Issuer at the Administrative Agent’s Payment Office in Dollars. Payments received from any Guarantor shall, unless otherwise expressly provided herein, be applied: First, to payment costs and expenses of any feescollection or other realization under this Guaranty and the Security Agreement, costs including reasonable compensation to Agent and its agents and counsel, and all expenses, liabilities and advances made or out-of-pocket expenses (including Attorney Costs) incurred by the Administrative Agent in connection with therewith; SECOND, to the exercise, enforcement or protection payment of any of the rights of the Administrative Agent, the Lenders and the L/C Issuers under this Guarantyall other Guaranteed Obligations; and SecondTHIRD, to after payment in full of the all Guaranteed Obligations (Obligations, to the extent not included in clause First above) in accordance with Section 8.03 payment to Guarantors, or their successors or assigns, or to whomsoever may be lawfully entitled to receive the same or as a court of the Credit Agreement. The Administrative Agent shall have absolute discretion as to the time of application competent jurisdiction may direct, of any payments received surplus then remaining from any Guarantorsuch payments.

Appears in 1 contract

Samples: Ramsay Youth Services Inc

Payment by Guarantors; Application of Payments. In Subject to the provisions of subsection 2.2(a), Guarantors hereby jointly and severally agree, in furtherance of the foregoing and not in limitation of any other right that the Administrative Agent, any which Lender or any L/C Issuer has other Person may have at law or in equity against any Guarantor by virtue hereof, that upon the failure of Borrowers, or any Borrower of them, to pay any Guaranteed Obligation of the Guarantied Obligations when and as the same shall become due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. Section 362(a) or the operation of any other provision of law or any jurisdiction which would otherwise cause a stay of the payment of such amounts), each Guarantor hereby promises to and Guarantors will forthwith upon demand pay, or cause to be paid, in cash, to Lender, an amount equal to the Administrative Agentsum of the unpaid principal amount of all Guarantied Obligations then due as aforesaid, accrued and unpaid interest on such Guarantied Obligations (including, without limitation, interest which, but for the Lenders or the L/C Issuers (filing of a petition in bankruptcy with respect to Borrowers, or any Affiliate of them, would have accrued on such Guarantied Obligations, whether or not a US claim is allowed against Borrowers, or any of them, for such interest in any such bankruptcy proceeding) and all other Guarantied Obligations then owed to Lender in the case of a Specified Swap Contract) as designated thereby, in cash aforesaid. All such Guaranteed Obligation. Except as otherwise expressly provided herein, all payments by any Guarantor hereunder shall be made applied promptly from time to the Administrative Agent, for the account of the Lenders or the applicable L/C Issuer at the Administrative Agent’s Payment Office in Dollars. Payments received from any Guarantor shall, unless otherwise expressly provided herein, be appliedtime by Lender: First, to the payment of any fees, the costs or out-of-pocket and expenses (including Attorney Costs) incurred by the Administrative Agent in connection with the exercise, enforcement or protection of any of the rights of the Administrative Agent, the Lenders and the L/C Issuers collection or other realization under this Guaranty, including reasonable compensation to Lender and its agents and counsel, and all expenses, liabilities and advances made or incurred by Lender in connection therewith; and SecondThird, to after payment in full of the Guaranteed Obligations (all Guarantied Obligations, to the extent not included in clause First above) in accordance with Section 8.03 payment to Guarantors, or their respective successors or assigns, or to whomsoever may be lawfully entitled to receive the same or as a court of the Credit Agreement. The Administrative Agent shall have absolute discretion as to the time of application competent jurisdiction may direct, of any payments received surplus then remaining from any Guarantorsuch payments.

Appears in 1 contract

Samples: Spelling Entertainment Group Inc

Payment by Guarantors; Application of Payments. In Subject to the provisions of subsection 2.2(a), Guarantors hereby jointly and severally agree, in furtherance of the foregoing and not in limitation of any other right that the which Administrative Agent, any Lender Agent or any L/C Issuer has other Person may have at law or in equity against any Guarantor by virtue hereof, that upon the failure of any Borrower Company to pay any Guaranteed Obligation of the Guarantied Obligations when and as the same shall become due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. ss. 362(a)), each Guarantor hereby promises to and Guarantors will forthwith upon demand pay, or cause to be paid, in cash, to Administrative Agent for the ratable benefit of Lenders, an amount equal to the sum of the unpaid principal amount of all Guarantied Obligations then due as aforesaid, accrued and unpaid interest on such Guarantied Obligations (including, without limitation, interest which, but for the filing of a petition in bankruptcy with respect to Company, would have accrued on such Guarantied Obligations, whether or not a claim is allowed against Company for such interest in any such bankruptcy proceeding) and all other Guarantied Obligations then owed to Administrative Agent and/or Lenders as aforesaid. All such payments shall be applied promptly from time to time by Administrative Agent, the Lenders or the L/C Issuers (or any Affiliate of a US Lender in the case of a Specified Swap Contract) as designated thereby, in cash such Guaranteed Obligation. Except as otherwise expressly provided herein, all payments by any Guarantor hereunder shall be made to the Administrative Agent, for the account of the Lenders or the applicable L/C Issuer at the Administrative Agent’s Payment Office in Dollars. Payments received from any Guarantor shall, unless otherwise expressly provided herein, be applied: First, to the payment of the costs and expenses of any feescollection or other realization under this Guaranty, costs including reasonable compensation to Administrative Agent and its agents and counsel, and all expenses, liabilities and advances made or out-of-pocket expenses (including Attorney Costs) incurred by the Administrative Agent in connection with the exercise, enforcement or protection of any of the rights of the Administrative Agent, the Lenders and the L/C Issuers under this Guarantytherewith; and Second, to the payment of all other Guarantied Obligations in such order as Administrative Agent shall elect; and Third, after payment in full of the Guaranteed Obligations (all Guarantied Obligations, to the extent not included in clause First above) in accordance with Section 8.03 payment to Guarantors, or their respective successors or assigns, or to whomsoever may be lawfully entitled to receive the same or as a court of the Credit Agreement. The Administrative Agent shall have absolute discretion as to the time of application competent jurisdiction may direct, of any payments received surplus then remaining from any Guarantorsuch payments.

Appears in 1 contract

Samples: Players International Inc /Nv/

Payment by Guarantors; Application of Payments. In Subject to the ---------------------------------------------- provisions of subsection 2.2(a), Guarantors hereby jointly and severally agree, in furtherance of the foregoing and not in limitation of any other right that the Administrative Agent, any Lender which Agent or any L/C Issuer has Bank may have at law or in equity against any Guarantor by virtue hereof, that upon the failure of any Borrower Company to pay any Guaranteed Obligation of the Guarantied Obligations when and as the same shall become due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. (S) 362(a)), each Guarantor hereby promises to and Guarantors will forthwith upon demand pay, or cause to be paid, in cash, to Agent for the ratable benefit of Banks, an amount equal to the Administrative Agentsum of the unpaid principal amount of all Guarantied Obligations then due as aforesaid, accrued and unpaid interest on such Guarantied Obligations (including, without limitation, interest which, but for the Lenders or the L/C Issuers (or any Affiliate filing of a US Lender petition in bankruptcy with respect to Company, would have accrued on such Guarantied Obligations, whether or not a claim is allowed against Company for such interest in the case of a Specified Swap Contractrelated bankruptcy proceeding) and all other Guarantied Obligations then owed to Banks and/or Agent as designated thereby, in cash aforesaid. All such Guaranteed Obligation. Except as otherwise expressly provided herein, all payments by any Guarantor hereunder shall be made applied promptly from time to the Administrative time by Agent, for the account of the Lenders or the applicable L/C Issuer at the Administrative Agent’s Payment Office in Dollars. Payments received from any Guarantor shall, unless otherwise expressly provided herein, be applied: First, to the payment of costs and expenses of any feescollection or ----- other realization under this Guaranty, costs including reasonable compensation to Agent and its agents and counsel, and all expenses, liabilities and advances made or out-of-pocket expenses (including Attorney Costs) incurred by the Administrative Agent in connection with the exercisetherewith; Third, enforcement or protection of any of the rights of the Administrative Agent, the Lenders and the L/C Issuers under this Guaranty; and Second, to after payment in full of the Guaranteed Obligations (all Guarantied Obligations, to the extent not included in clause First above) in accordance with Section 8.03 ----- payment to Guarantor, or its successors or assigns, or to whomsoever may be lawfully entitled to receive the same or as a court of the Credit Agreement. The Administrative Agent shall have absolute discretion as to the time of application competent jurisdiction may direct, of any payments received surplus then remaining from any Guarantorsuch payments.

Appears in 1 contract

Samples: Pledge Agreement (Cb Commercial Real Estate Services Group Inc)

Payment by Guarantors; Application of Payments. In Subject to the provisions of Section 2.2(a), the Guarantors hereby jointly and severally agree, in furtherance of the foregoing and not in limitation of any other right that the Administrative Agent, which any Lender or any L/C Issuer has Secured Party may have at law or in equity against any Guarantor by virtue hereof, that upon the failure of any Borrower Loan Party to pay any of the Guaranteed Obligation Obligations when and as the same shall become due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code), each Guarantor hereby promises to and the Guarantors will forthwith upon demand (or automatically upon the occurrence of any Event of Default under Section 7.01(h) or Section 7.01(i) of the Credit Agreement) pay, or cause to be paid, in cash, to the Administrative AgentAgent for the ratable benefit of the Secured Parties, an amount equal to the Lenders or sum of the L/C Issuers unpaid principal amount of all Guaranteed Obligations then due as aforesaid, accrued and unpaid interest on such Guaranteed Obligations (or any Affiliate including interest which, but for the filing of a US Lender petition in bankruptcy with respect to such Loan Party, would have accrued on such Guaranteed Obligations, whether or not a claim is allowed against such Loan Party for such interest in the case of a Specified Swap Contractrelated bankruptcy proceeding) and all other Guaranteed Obligations then owed to the Secured Parties as designated thereby, in cash aforesaid. All such Guaranteed Obligation. Except as otherwise expressly provided herein, all payments by any Guarantor hereunder shall be made applied promptly from time to time by the Administrative Agent as set forth in the Credit Agreement. For the avoidance of doubt, notwithstanding any other provision of any Loan Document to the Administrative Agentcontrary, for the account of the Lenders or the applicable L/C Issuer at the Administrative Agent’s Payment Office in Dollars. Payments no such payment received from any Guarantor shall, unless otherwise expressly provided herein, that is not a | Qualified ECP Guarantor shall be applied: First, to payment of any fees, costs or out-of-pocket expenses (including Attorney Costs) incurred applied by the Administrative Agent in connection with or any other Secured Party to the exercise, enforcement or protection payment of any of the rights of the Administrative Agent, the Lenders and the L/C Issuers under this Guaranty; and Second, to payment in full of the Guaranteed Obligations (to the extent not included in clause First above) in accordance with Section 8.03 of the Credit Agreement. The Administrative Agent shall have absolute discretion as to the time of application of any payments received from any GuarantorExcluded Swap Obligations.

Appears in 1 contract

Samples: Subsidiary Guaranty (Empire Resorts Inc)

Payment by Guarantors; Application of Payments. In Subject to the ---------------------------------------------- provisions of subsection 2.2(a), Guarantors hereby jointly and severally agree, in furtherance of the foregoing and not in limitation of any other right that the Administrative Agent, any Lender which Agent or any L/C Issuer has Bank may have at law or in equity against any Guarantor by virtue hereof, that upon the failure of any Borrower Company to pay any Guaranteed Obligation of the Guarantied Obligations when and as the same shall become due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. (S) 362(a)), each Guarantor hereby promises to and Guarantors will forthwith upon demand pay, or cause to be paid, in cash, to Agent for the ratable benefit of Banks, an amount equal to the Administrative Agentsum of the unpaid principal amount of all Guarantied Obligations then due as aforesaid, accrued and unpaid interest on such Guarantied Obligations (including, without limitation, interest which, but for the Lenders or the L/C Issuers (or any Affiliate filing of a US Lender petition in bankruptcy with respect to Company, would have accrued on such Guarantied Obligations, whether or not a claim is allowed against Company for such interest in the case of a Specified Swap Contractrelated bankruptcy proceeding) and all other Guarantied Obligations then owed to Banks and/or Agent as designated thereby, in cash aforesaid. All such Guaranteed Obligation. Except as otherwise expressly provided herein, all payments by any Guarantor hereunder shall be made applied promptly from time to the Administrative time by Agent, for the account of the Lenders or the applicable L/C Issuer at the Administrative Agent’s Payment Office in Dollars. Payments received from any Guarantor shall, unless otherwise expressly provided herein, be applied: First, to the payment of costs and expenses of any feescollection or other ----- realization under this Guaranty, costs including reasonable compensation to Agent and its agents and counsel, and all expenses, liabilities and advances made or out-of-pocket expenses (including Attorney Costs) incurred by the Administrative Agent in connection with the exercisetherewith; Third, enforcement or protection of any of the rights of the Administrative Agent, the Lenders and the L/C Issuers under this Guaranty; and Second, to after payment in full of the Guaranteed Obligations (all Guarantied Obligations, to the extent not included in clause First above) in accordance with Section 8.03 ----- payment to Guarantor, or its successors or assigns, or to whomsoever may be lawfully entitled to receive the same or as a court of the Credit Agreement. The Administrative Agent shall have absolute discretion as to the time of application competent jurisdiction may direct, of any payments received surplus then remaining from any Guarantorsuch payments.

Appears in 1 contract

Samples: Pledge Agreement (Cb Richard Ellis Services Inc)

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