Common use of Special Provisions Applicable to Subsidiary Guarantors Clause in Contracts

Special Provisions Applicable to Subsidiary Guarantors. Pursuant to Section 10.11, certain new Subsidiaries of a Borrower are required to enter into this Agreement by executing and delivering to the Administrative Agent a joinder agreement as provided in Section 10.11. Upon the execution and delivery of such joinder agreement by a new Subsidiary, such Subsidiary shall become a Subsidiary Guarantor and Credit Party hereunder with the same force and effect as if originally named as a Subsidiary Guarantor or Credit Party herein. The execution and delivery of any joinder agreement adding an additional Subsidiary Guarantor as a party to this Agreement shall not require the consent of any other party hereto. The rights and obligations of each party hereunder shall remain in full force and effect notwithstanding the addition of any new Subsidiary Guarantor hereunder.

Appears in 3 contracts

Samples: Credit Agreement (La-Z-Boy Inc), Credit Agreement (La-Z-Boy Inc), Credit Agreement (La-Z-Boy Inc)

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Special Provisions Applicable to Subsidiary Guarantors. (a) Pursuant to Section 10.116.14 of this Agreement, certain new Subsidiaries of a any Borrower Party are required to enter into this Agreement by executing and delivering to the Administrative Agent a joinder agreement as provided in Section 10.11Guaranty Supplement. Upon the execution and delivery of a Guaranty Supplement by any such joinder agreement by a new Subsidiary, such Subsidiary shall become a Subsidiary Guarantor and Credit Borrower Party hereunder with the same force and effect as if originally named as a Subsidiary Guarantor or Credit Borrower Party herein. The execution and delivery of any joinder agreement Guaranty Supplement adding an additional Subsidiary Guarantor as a party to this Agreement shall not require the consent of any other party hereto. The rights and obligations of each party hereunder shall remain in full force and effect notwithstanding the addition of any new Subsidiary Guarantor hereunder.

Appears in 1 contract

Samples: Loan Agreement and Guaranty (Foster Wheeler LTD)

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