Common use of RESTRUCTURING GUARANTIES Clause in Contracts

RESTRUCTURING GUARANTIES. On the earlier to occur of (i) the date on which a Plan (a) has been confirmed by the bankruptcy court, and (b) all conditions precedent to the effectiveness of such Plan under the Bankruptcy Code and/or set forth in such Plan have been satisfied (such date being referred to as the "PLAN EFFECTIVE DATE"), or (ii) the date on which any Sublessee Party issues to an Other Creditor of any other Sublessee Party a guaranty of the obligations of such other Sublessee Party to such Other Creditor, each Sublessee Party shall issue a guaranty of the due and punctual payment and performance of all obligations of each Affiliate of such Sublessee Party under this Agreement, the Sublease and each Other Agreement to and for the benefit of Sublessor or the Affiliate of Sublessor that is a party to this Agreement, the Sublease or such Other Agreement. Each such guaranty shall be (i) a guaranty of payment and performance and not of collection, and (ii) otherwise reasonably acceptable in form and substance to the beneficiary thereof (it being stated and acknowledged, for the avoidance of any doubt or misunderstanding, that the form and content of the Guaranty shall not be dispositive with respect to the acceptability of the form and content of any guaranty to be issued pursuant to this Section 2(f)).

RESTRUCTURING GUARANTIES. On the earlier to occur of (i) the date on which a Plan (a) has been confirmed by the bankruptcy court, and (b) all conditions precedent to the effectiveness of such Plan under the Bankruptcy Code and/or set forth in such Plan have been satisfied (such date being referred to as the "PLAN EFFECTIVE DATE"), or (ii) the date on which any Sublessee Lessee Party issues to an Other Creditor of any other Sublessee Lessee Party a guaranty of the obligations of such other Sublessee Lessee Party to such Other Creditor, each Sublessee Lessee Party shall issue a guaranty of the due and punctual payment and performance of all obligations of each Affiliate of such Sublessee Lessee Party under this Agreement, the Sublease Lease and each Other Agreement to and for the benefit of Sublessor Lessor or the Affiliate of Sublessor Lessor that is a party to this Agreement, the Sublease Lease or such Other Agreement. Each such guaranty shall be (i) a guaranty of payment and performance and not of collection, and (ii) otherwise reasonably acceptable in form and substance to the beneficiary thereof (it being stated and acknowledged, for the avoidance of any doubt or misunderstanding, that the form and content of the Parent Guaranty shall not be dispositive with respect to the acceptability of the form and content of any guaranty to be issued pursuant to this Section 2(f)).

RESTRUCTURING GUARANTIES. On the earlier to occur of (i) the date on which a Plan (a) has been confirmed by the bankruptcy court, and (b) all conditions precedent to the effectiveness of such Plan under the Bankruptcy Code and/or set forth in such Plan have been satisfied (such date being referred to as the "PLAN EFFECTIVE DATE"), or (ii) the date on which any Sublessee Lessee Party issues to an Other Creditor of any other Sublessee Lessee Party a guaranty of the obligations of such other Sublessee Lessee Party to such Other Creditor, each Sublessee Lessee Party shall issue a guaranty of the due and punctual payment and performance of all obligations of each Affiliate of such Sublessee Lessee Party under this Agreement, the Sublease Lease and each Other Agreement to and for the benefit of Sublessor Lessor or the Affiliate of Sublessor Lessor that is a party to this Agreement, the Sublease Lease or such Other Agreement. Each such guaranty shall be (i) a guaranty of payment and performance and not of collection, and (ii) otherwise reasonably acceptable in form and substance to the beneficiary thereof (it being stated and acknowledged, for the avoidance of any doubt or misunderstanding, that the form and content of any existing guaranty by Atlas Holdings of the Guaranty obligations of Polar under any of the Other Aircraft Leases shall not be dispositive with respect to the acceptability of the form and content of any guaranty to be issued pursuant to this Section 2(f)).

RESTRUCTURING GUARANTIES. On the earlier to occur of (i) the date on which a Plan (a) has been confirmed by the bankruptcy court, and (b) all conditions precedent to the effectiveness of such Plan under the Bankruptcy Code and/or set forth in such Plan have been satisfied (such date being referred to as the "PLAN EFFECTIVE DATE"), or (ii) the date on which any Sublessee Lessee Party issues to an Other Creditor of any other Sublessee Lessee Party a guaranty of the obligations of such other Sublessee Lessee Party to such Other Creditor, each Sublessee Lessee Party shall issue a guaranty of the due and punctual payment and performance of all obligations of each Affiliate of such Sublessee Lessee Party under this Agreement, the Sublease Lease and each Other Agreement to and for the benefit of Sublessor Lessor or the Affiliate of Sublessor Lessor that is a party to this Agreement, the Sublease Lease or such Other Agreement. Each such guaranty shall be (i) a guaranty of payment and performance and not of collection, and (ii) otherwise reasonably acceptable in form and substance to the beneficiary thereof (it being stated and acknowledged, for the avoidance of any doubt or misunderstanding, that the form and content of the Lessee Guaranty shall not be dispositive with respect to the acceptability of the form and content of any guaranty to be issued pursuant to this Section 2(f)).