Payment of Additional Sums. Guarantor covenants and agrees that if and so long as (i) the Issuer is the holder of all the Subordinated Debentures, (ii) a Trust Tax Event (as defined in the Declaration) in respect of the Issuer has occurred and is continuing and (iii) the Guarantor has elected, and has not revoked such election, to pay Additional Sums (as defined in the Declaration) in respect of the Trust Common Securities and Trust Preferred Securities, the Guarantor will pay to the Issuer such Additional Sums.
Appears in 3 contracts
Samples: Guarantee Agreement (KBK Capital Trust I), Guarantee Agreement (American Classic Voyages Co), Guarantee Agreement (Amcv Capital Trust I)
Payment of Additional Sums. Guarantor covenants and agrees that if and so long as (i) the Issuer is the holder of all the Subordinated Debentures, (ii) a Trust Tax Event (as defined in the Declaration) in respect of the Issuer has occurred and is continuing and (iii) the Guarantor has elected, and has not revoked such election, to pay Additional Sums (as defined in the Declaration) in respect of the Trust Common Securities and Trust Preferred Securities, the Guarantor will pay to the Issuer such Additional Sums.Trust
Appears in 2 contracts
Samples: Guarantee Agreement (El Paso Energy Capital Trust I), Guarantee Agreement (El Paso Natural Gas Co)
