Common use of Required Additional Guarantors Clause in Contracts

Required Additional Guarantors. At any time after the date hereof, cause any Subsidiary of the Borrower, whether presently existing or hereafter formed or acquired, which is not a Subsidiary Guarantor and which owns, directly or indirectly, an Unencumbered Asset, to promptly (but not later than 60 days after such Subsidiary is formed or acquired) execute and deliver a Guaranty to the Administrative Agent, for the benefit of the Lenders (together with the certificates and attachments described in Sections 5.1(b) and (c) with respect to such Subsidiary and an opinion of counsel in the form required pursuant to Section 5.6); provided that “Required Additional Guarantors” shall not include DownREIT Partnerships.

Required Additional Guarantors. At any time after the date hereof, cause any Subsidiary of the Borrower, whether presently existing or hereafter formed or acquired, which is not a Subsidiary Guarantor and which owns, directly or indirectly, an Unencumbered Asset, to promptly (but not later than 60 days after such Subsidiary is formed or acquired) execute and deliver a Guaranty to the Administrative Agent, for the benefit of the Lenders (together with the certificates and attachments described in Sections 5.1(b) and (c) with respect to such Subsidiary and an opinion of counsel in the form required pursuant to Section 5.6); provided that “"Required Additional Guarantors” " shall not include DownREIT Partnerships.