Common use of Subsidiary Guarantors Clause in Contracts

Subsidiary Guarantors. If the Borrower or any of its Subsidiaries shall form or acquire any new Subsidiary, the Borrower will cause such new Subsidiary to become a “Guarantor” (and, thereby, a “Loan Party”) under the Guarantee Assumption Agreement and to promptly, but in any event no later than five (5) Business Days after formation or acquisition, deliver such proof of organizational action, incumbency of Responsible Officers, opinions of counsel and other documents as is consistent with those delivered by the Borrower pursuant to Section 4.01 upon the Effective Date or as the Lender shall otherwise reasonably request.

Subsidiary Guarantors. If the Borrower or any of its Subsidiaries shall form or acquire any new Subsidiary (other than a Financing Subsidiary), the Borrower will cause such new Subsidiary Subsidiary, to become a “Guarantor” (and, thereby, a “Loan Party”) under the Guarantee Assumption Agreement and to promptly, but in any event no later than five (5) Business Days after formation or acquisition, deliver such proof of organizational action, incumbency of Responsible Officers, written opinions of outside counsel and other documents as is consistent with those delivered by the Borrower pursuant to Section 4.01 upon the Effective Date or as the Lender shall otherwise reasonably request.