Common use of Third party guarantees Clause in Contracts

Third party guarantees. No Obligor shall, and will ensure that no other member of the Group shall, without the prior consent of the Majority Banks, grant any guarantee, bond, indemnity, counter-indemnity or similar instrument in respect of any material obligation of a person other than a member of the Group, save for: (a) on the terms of the Finance Documents; or (b) any guarantee related to the purchase or supply of goods and/or services by such Obligor or a member of the Group or a consortium or a group of companies of which such Obligor or a member of the Group is a party, which guarantee is given in the ordinary course of business.

Third party guarantees. No Obligor shall, and will ensure that no other member of the Group shall, without the prior consent of the Majority BanksLenders, grant any guarantee, bond, indemnity, counter-indemnity or similar instrument in respect of any material obligation of a person other than a member of the Group, save for: (a) 18.10.1 on the terms of the Finance Documents; or (b) 18.10.2 any guarantee related to the purchase or supply of goods and/or services by such Obligor or a member of the Group or a consortium or a group of companies of which such Obligor or a member of the Group is a party, which guarantee is given in the ordinary course of business.

Third party guarantees. No Obligor shall, and will ensure that no other member of the Group shall, without the prior consent of the Majority BanksBank, grant any guarantee, bond, indemnity, counter-indemnity or similar instrument in respect of any material obligation of a person other than a member of the Group, save for: (a) on the terms of the Finance Documents; or (b) any guarantee related to the purchase or supply of goods and/or services by such Obligor or a member of the Group or a consortium or a group of companies of which such Obligor or a member of the Group is a party, which guarantee is given in the ordinary course of business.

Third party guarantees. No Obligor shall, and will ensure that no other member of the Group shall, without the prior consent of the Majority BanksLenders, grant any guarantee, bond, indemnity, counter-indemnity or similar instrument in respect of any material obligation of a person other than a member of the Group, save for: (a) on the terms of the Finance Documents; or (b) any guarantee related to the purchase or supply of goods and/or services by such Obligor or a member of the Group or a consortium or a group of companies of which such Obligor or a member of the Group is a party, which guarantee is given in the ordinary course of business.