Resignation of a Guarantor. (a) The Company may request that a Guarantor (other than an Original Obligor or the Target) ceases to be a Guarantor by delivering to the Facility Agent a Resignation Letter. (b) The Facility Agent shall accept a Resignation Letter and notify the Company and the Lenders of its acceptance if no Default is continuing or would result from the acceptance of the Resignation Letter (and the Company has confirmed this is the case) whereupon that company shall cease to be a Guarantor and shall have no further obligations as a Guarantor under the Finance Documents.
Appears in 8 contracts
Samples: Multicurrency Term and Revolving Facilities Agreement (Xstrata PLC), Debt Bridge Facility Agreement (Xstrata PLC), Debt Bridge Facility Agreement (Xstrata PLC)
Resignation of a Guarantor. (a) The Company may request that a Guarantor (other than an Original Obligor or the TargetObligor) ceases to be a Guarantor by delivering to the Facility Agent a Resignation Letter.
(b) The Facility Agent shall accept a Resignation Letter and notify the Company and the Lenders of its acceptance if no Default is continuing or would result from the acceptance of the Resignation Letter (and the Company has confirmed this is the case) whereupon that company shall cease to be a Guarantor and shall have no further obligations as a Guarantor under the Finance Documents.
Appears in 4 contracts
Samples: Multicurrency Loan Facility and Subscription Agreement (Xstrata PLC), Multicurrency Loan Facility Agreement (Xstrata PLC), Loan Facility Agreement (Falconbridge LTD)
