Common use of Requirement to Become Guarantor Clause in Contracts

Requirement to Become Guarantor. Within 10 days of any Person (other than an Excluded Subsidiary) becoming a Material Subsidiary after the Effective Date, the Borrower shall deliver to the Agent each of the following items, each in form and substance satisfactory to the Agent: (i) an Accession Agreement executed by such Material Subsidiary and (ii) the items that would have been delivered under Sections 5.1.(a)(v) through (vii) and (ix) if such Material Subsidiary had been one on the Effective Date; provided, however, promptly (and in any event within 10 days) upon any Excluded Subsidiary ceasing to be subject to the restriction which prevented it from becoming a Guarantor on the Effective Date or delivering an Accession Agreement pursuant to this Section, as the case may be, such Subsidiary shall comply with the provisions of this Section. Upon a Lender’s written request, the Agent shall send to such Lender copies of each of the foregoing items once the Agent has received all such items with respect to a Material Subsidiary.

Appears in 1 contract

Samples: Credit Agreement (St Joe Co)

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Requirement to Become Guarantor. Within 10 45 days of any Person (other than an Excluded Subsidiary) becoming a Material Subsidiary after the Effective Date, the Borrower shall deliver to the Agent each of the following items, each in form and substance satisfactory to the Agent: (i) an Accession Agreement executed by such Material Subsidiary and (ii) the items that would have been delivered under Sections 5.1.(a)(v5.1.(a)(iv), (ix) through (viixii) and (ixxv) if such Material Subsidiary had been one on the Effective Date; provided, however, promptly (and in any event within 10 30 days) upon any Excluded Subsidiary ceasing to be subject to the restriction which prevented it from becoming a Guarantor on the Effective Date or delivering an Accession Agreement pursuant to this Section, as the case may be, such Subsidiary shall comply with the provisions of this Section. Upon a Lender’s written request, the Agent The Borrower shall send to such each Lender copies of each of the foregoing items once the Agent has received all such items with respect to a Material Subsidiary.

Appears in 1 contract

Samples: Credit Agreement (United Dominion Realty Trust Inc)

Requirement to Become Guarantor. Within 10 30 days of any Person (other than an Excluded Subsidiary) becoming a Material Subsidiary after the Effective Date, the Borrower shall deliver to the Agent each of the following items, each in form and substance satisfactory to the Agent: (ia) an Accession Agreement executed by such Material Subsidiary and (iib) the items that would have been delivered under Sections 5.1.(a)(v) through (vii5.1.(a)(iv) and (ix) through (xii) if such Material Subsidiary had been one on the Effective Date; provided, however, promptly (and in any event within 10 days5 Business Days) upon any Excluded Subsidiary ceasing to be subject to the restriction which prevented it from becoming a Guarantor on the Effective Date or delivering an Accession Agreement pursuant to this Section, as the case may be, such Subsidiary shall comply with the provisions of this Section. Upon a Lender’s written request, the The Agent shall send to such each Lender copies of each of the foregoing items once the Agent has received all such items with respect to a Material Subsidiary.

Appears in 1 contract

Samples: Term Loan Agreement (HRPT Properties Trust)

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Requirement to Become Guarantor. Within 10 45 days of any Person (other than an Excluded Subsidiary) becoming a Material Subsidiary after the Effective Date, the Borrower shall deliver to the Agent each of the following items, each in form and substance satisfactory to the Agent: (i) an Accession Agreement executed by such Material Subsidiary and (ii) the items that would have been delivered under Sections 5.1.(a)(v5.1.(a)(iv), (ix) through (viixii) and (ixxvii) if such Material Subsidiary had been one on the Effective Date; provided, however, promptly (and in any event within 10 30 days) upon any Excluded Subsidiary ceasing to be subject to the restriction which prevented it from becoming a Guarantor on the Effective Date or delivering an Accession Agreement pursuant to this Section, as the case may be, such Subsidiary shall comply with the provisions of this Section. Upon a Lender’s written request, the The Agent shall send to such each Lender copies of each of the foregoing items once the Agent has received all such items with respect to a Material Subsidiary.

Appears in 1 contract

Samples: Credit Agreement (United Dominion Realty Trust Inc)

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