Restrictions on Guarantees. The Company will not become or remain liable with respect to any Guarantee of any obligation except the following:
7.6.1. Guarantees to governmental authorities in respect of performance under Franchises and to obligors upon letters of credit or indemnity, performance or similar bonds made in the ordinary course of business, not involving Guarantees of Indebtedness for money borrowed; provided, however, that the aggregate principal amount of all Guarantees permitted by this Section 7.6.1 shall not exceed $50,000 at any one time outstanding.
7.6.2. Endorsements for collection or deposit in the ordinary course of business.
Restrictions on Guarantees. (a) Holdings will not cause or permit any of its Subsidiaries (other than a Securitization Subsidiary), directly or indirectly, to guarantee any capital markets debt or any unsecured credit facility (other than Standard Securitization Undertakings in connection with a Qualified Securitization Financing) of Holdings, the Issuer or any Subsidiary Guarantor (other than guarantees by any of the Issuer’s Subsidiaries of capital markets debt or unsecured credit facilities of the Issuer or any of its Subsidiaries) in each case after the date hereof, unless such Subsidiary:
(i) within five Business Days of the date on which it guarantees such capital markets debt or unsecured credit facility, executes and delivers to the Trustee a supplemental indenture in substantially the form of Exhibit A hereto pursuant to which such Subsidiary shall Guarantee all of the Issuer’s obligations under the Securities and this Indenture in accordance with the terms of Article XVI hereof; and
(ii) delivers to the Trustee an Opinion of Counsel stating that such supplemental indenture and Guarantee have been duly authorized, executed and delivered by such Subsidiary and constitute the legal, valid and enforceable obligation of such Subsidiary. Thereafter, such Subsidiary shall be a Subsidiary Guarantor for all purposes of this Indenture until such Guarantee is released in accordance with the provisions of this Indenture.
(b) Notwithstanding Section 10.07(a), Subsidiaries of the Issuer shall be permitted to guarantee capital markets debt and unsecured credit facilities of the Issuer and its Subsidiaries.
Restrictions on Guarantees. Notwithstanding any provision to the contrary in any Loan Document, no Foreign Subsidiary shall provide any guarantees to secure the Obligations; provided that in the case of any Subsidiary organized under U.S. law that does not meet the definition of a “Domestic Subsidiary” by virtue of clauses (i) or (ii) in the definition thereof, such Subsidiary shall be treated as if it were a Foreign Subsidiary solely for the purposes of this Section 12.22. For purposes of this Section 12.22, Subsidiary shall include any Unrestricted Entity. The Credit Parties, Lenders and Administrative Agent agree that any guaranty or similar interest made or granted in contravention of this Section 12.22 shall be void ab initio.
Restrictions on Guarantees. Imperial shall procure that no other member of the Group (other than Imperial) will guarantee (which for the purposes of this Clause 20.11 includes an indemnity or other form of assurance against financial loss) any indebtedness of the Borrowers unless the obligations of the Borrowers under this Agreement are similarly guaranteed, save when such guarantee is given by a member of the Group in connection with netting and set-off arrangements under cash management facilities existing and/or arising from time to time in the ordinary course of its banking arrangements and extended to members of the Group by a bank or financial institution.
Restrictions on Guarantees. The Company will not become or remain liable with respect to any Guarantee of any obligation except the following:
7.6.1. Guarantees to governmental authorities in respect of performance under Franchises and to obligors upon letters of credit or indemnity, performance or similar bonds made in the ordinary course of business, not involving Guarantees of Indebtedness for money borrowed; provided, however, that the aggregate principal amount of all Guarantees
Restrictions on Guarantees. Guarantee, assume or otherwise become responsible for (directly or indirectly) the indebtedness for borrowed funds, performance, obligations, of any person, or the agreement by the Borrower or any of its subsidiaries to do any of the foregoing, except (i) any such contingent liability or agreement incurred or in effect on the date hereof, (ii) guarantees made in the ordinary course of business up to an aggregate amount of $100,000, and (iii) endorsements of checks and other negotiable instruments in the ordinary course of business.
Restrictions on Guarantees. Neither the Company nor any of its Subsidiaries will directly or indirectly guarantee, endorse (other than for collection or deposit in the ordinary course of business), discount or sell with recourse, agree (contingently or otherwise) to purchase, repurchase, or otherwise acquire or supply or advance funds (whether by way of loan, stock purchase, capital contribution, or otherwise) in respect of, or become, or be or remain liable with respect to, directly or indirectly, any indebtedness, obligation, liability, or dividend of any other Person.
Restrictions on Guarantees. PPL Montana will not, contingently or otherwise, be or become liable, directly or indirectly, for any obligation guaranteeing in any manner any Indebtedness or performance obligation of any other person, except for:
(i) endorsements and similar obligations in the ordinary course of business;
(ii) guarantees existing on the Closing Date (which guarantees are set forth on Schedule 8 hereto), and renewals thereof in the ordinary course of business;
Restrictions on Guarantees. The Borrower shall not become or remain liable with respect to any Guarantee of any obligation of any other Person except the following:
(i) Guarantees by the Borrower outstanding on the date of this Agreement and listed in EXHIBIT I hereto;
(ii) Endorsements for collection or deposit in the ordinary course of business;
(iii) Guarantees which individually do not exceed $10,000 and collectively do not exceed $100,000; and
(iv) After the date when the principal balance of the Loan as of the Cutoff Date has been paid down by one-half, any other Guarantee if and only so long as (A) at the time of the creation or incurrence of such Guarantee and immediately after giving effect thereto, no Event of Default or Default shall exist, (B) the Total Indebtedness of the Borrower outstanding at the time of the creation or incurrence of such Guarantee and immediately after giving effect thereto will not exceed 125% of the Borrower's Tangible Net worth as at the end of the fiscal quarter most recently ended, and (C) the Borrower's Adjusted Pre-Tax Income for the period of the four consecutive fiscal quarters most recently ended preceding the creation or incurrence of such Guarantee was not less than 200% of the Borrower's Debt Service for such period and, at the time of the creation or incurrence of such Guarantee and immediately after giving effect thereto, such Adjusted Pre-Tax Income will not be less than 200% of the
Restrictions on Guarantees. 45 9.1.2. RESTRICTIONS ON BORROWED MONEY INDEBTEDNESS...............................45 9.2.
