Payment on Stay. If: (i) the Borrower or any Guarantor is prevented from making payment of any of the Obligations when it would otherwise be required to do so; or (ii) the Agent is prevented from demanding payment of the Obligations because of a stay or other judicial proceeding or any other legal impediment, all Obligations or other amounts otherwise subject to demand, acceleration or payment shall be payable by the Guarantors as provided for hereunder.
Appears in 3 contracts
Samples: Credit Agreement (PENGROWTH ENERGY Corp), Credit Agreement (PENGROWTH ENERGY Corp), Credit Agreement (Pengrowth Energy Trust)
Payment on Stay. If: (i) If the Borrower or any the Guarantor is prevented from making payment of any of the Guaranteed Obligations when it would otherwise be required to do so; , or (ii) the Agent Lender is prevented from demanding payment of the Guaranteed Obligations because of a stay or other judicial proceeding or any other legal impediment, all Guaranteed Obligations or other amounts otherwise subject to demand, acceleration or payment shall be payable by the Guarantors Guarantor as provided for hereunder.
Appears in 3 contracts
Samples: Guarantee (Anthony Clark International Insurance Brokers LTD), Anthony Clark International Insurance Brokers LTD, Anthony Clark International Insurance Brokers LTD
Payment on Stay. If: (i) the Borrower or any Guarantor is prevented from making payment of any of the Obligations when it would otherwise be required to do so; or (ii) the Agent or any Lender is prevented from demanding payment of the Obligations because of a stay or other judicial proceeding or any other legal impediment, all Obligations or other amounts otherwise subject to demand, acceleration or payment shall be payable by the Guarantors as provided for hereunder.
Appears in 1 contract
Samples: Guarantee (Paramount Energy Trust)
Payment on Stay. If: (i) the Borrower Borrower, any other Material Subsidiary or any the Guarantor is prevented from making payment of any of the Guaranteed Obligations when it would otherwise be required to do so; or (ii) the Agent is Guarantee Beneficiaries are prevented from demanding payment of the Obligations Guaranteed Obligations; in each case because of a stay or other judicial proceeding or any other legal impediment, all Guaranteed Obligations or other amounts otherwise subject to demand, acceleration or payment shall nevertheless be payable by the Guarantors Guarantor as provided for hereunder.
Appears in 1 contract
