Replacement of Guarantor. In the event that the Guarantor as named in this Lease enters into liquidation, whether compulsory or voluntary, or passes a resolution for winding-up while solvent, except where the liquidation or winding-up resolution is for the purposes of reconstruction or amalgamation while the Tenant or the Guarantor (as the case may be) remains solvent, the Tenant will ensure that the Guarantor as named in this Lease is replaced with another entity acceptable to the Landlord (acting reasonably).
Replacement of Guarantor. If no Lease Default, Lease Event of Default or Event of Default shall exist at the time of either such request or such release, then following the written request of the Guarantor to the Indenture Trustee and the Certificateholders at least thirty (30) days prior to the requested date on which the Guarantor is to be released from its obligations under this Guaranty Agreement, the Guarantor shall be released from further liability under this Guaranty Agreement upon its being replaced by a Replacement Guarantor that satisfies all the conditions contained in the definition of such term set forth in Section 22.
Replacement of Guarantor. If at any time any party who shall act as surety for the Tenant's covenants in this Lease shall suffer an event of insolvency as defined in clause 4.1.3 hereof the Tenant shall notify the Landlord of the same and shall upon request from the Landlord provide such alternative security as shall be reasonably acceptable to the Landlord
Replacement of Guarantor. In the event of the occurrence of any of the events referred to in clause 13 in respect of the Guarantor, the Grantor shall not exercise its right pursuant to clause 13 without first allowing the Grantee a period of 30 working days to procure that some other guarantor or guarantors reasonably acceptable to the Grantor execute a guarantee in respect of the Grantee’s obligations contained in this agreement in the same terms as set out in clause 17.
Replacement of Guarantor. If based on the specific facts (or Article 11 Acceleration Clause in the General Provisions section of this Agreement), the Bank considers that the Guarantor's credit is poor and finds a need to replace the Guarantor, the Borrower will immediately act in accordance with the notice of the Bank. The original Guarantor, irrespective of one or several persons, shall be replaced after the new Guarantor has signed the guarantee agreement with the consent of the Bank. However, if it is agreed that the new Guarantor shall not be held responsible for the guarantee of the debts that has occurred before the replacement, the original Guarantor’s guarantee responsibility shall not be discharged until the liability for those debts occurred before the replacement date is fully discharged and the required procedures are completed.
Replacement of Guarantor. In the event that, at any time during the term of this Guaranty, Guarantor should cease to transact business or cease to be duly organized, validly existing and/or in good standing, Guarantor shall obtain a substitute Guaranty to the benefit of Bank, substantially in accordance with the terms and
Replacement of Guarantor. Within twenty-eight days of the death during the Term of any Guarantor or of any of the events listed in clauses 6.1.3, 6.1.4 and 6.1.5 happening in relation to any Guarantor to give notice thereof to the Landlord and if the Landlord so requires and at the Tenant's expense in all respects within fifty-six days after such event to procure that some other person reasonably acceptable to the Landlord becomes a Guarantor and enters into a deed in the form set out in the Fourth Schedule
Replacement of Guarantor. Forthwith after the death of any Guarantor or such Guarantor becoming bankrupt or having a receiving order made against him or (being a company) entering into liquidation or otherwise ceasing to trade to give written notice thereof to the Landlord and if so required by the Landlord at the Tenant’s expense within twenty eight days of such request to procure some other person or company approved by the Landlord (such approval not to be unreasonably withheld or delayed) to execute under seal a guarantee in the terms of Schedule 10 (mutatis mutandis) SCHEDULE 4 Landlord’s Covenants
Replacement of Guarantor. At any time following the expiration of the thirty-sixth (36th) full calendar month of the Term, provided that there is no continuing default under this Lease or the Guaranty, Guarantor may request that the Guarantor be replaced (a “Guarantor Replacement”) with a substitute guarantor (a “Replacement Guarantor”), and in such event:
