Affiliated Guarantor definition
Examples of Affiliated Guarantor in a sentence
In this regard, Affiliated Guarantor agrees that it is bound to the payment of all Guaranteed Obligations, whether now existing or hereafter accruing, as fully as if such Guaranteed Obligations were directly owing to Lender by Affiliated Guarantor.
All payments due from Holdings, the Borrower, any Subsidiary or any Affiliated Guarantor on account of wages and employee health and welfare insurance and other benefits that would reasonably be expected to have a Material Adverse Effect if not paid, have been paid or accrued as a liability on the books of Holdings, the Borrower, such Subsidiary or such Affiliated Guarantor.
As of the date hereof and the Closing Date, there are no strikes or lockouts against Holdings, the Borrower, any Subsidiary or any Affiliated Guarantor pending or, to the actual knowledge of Holdings or the Borrower, threatened.
No modification, amendment or waiver of any provision of this Article XII, nor the consent to any departure by any Guarantor or Affiliated Guarantor therefrom, shall in any event be effective unless the same shall be in writing and signed by the Trustee, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given.
In the case of each Affiliated Guarantor, transfer (as a subordinated loan or otherwise) to the Borrower or any Subsidiary Guarantor (other than to another Affiliated Guarantor) an amount in cash equal to 50% of any excess cash flow (after excluding all cash amounts expected to be required to operate the business of such Affiliated Guarantor) of such Affiliated Guarantor determined on an annual basis beginning with the year ended December 31, 2008.
If any Liens and Encumbrances are recorded against the Property or any part of the Property, Affiliated Guarantor and/or Operating Lessee as applicable shall obtain a discharge and release of any Liens and Encumbrances within fifteen (15) days after receipt of notice of their existence.
Concurrently with the execution and delivery of such supplemental indenture, the Issuers shall deliver to the Trustee an Officer’s Certificate as provided in Section 9.05; however, for the avoidance of doubt, no Opinion of Counsel shall be required in connection with the execution and delivery of a supplemental indenture for the addition of a Guarantor or Affiliated Guarantor under this Indenture.
Affiliated Guarantor agrees that any release which may be given by Lender to Borrower or any other guarantor shall not release Affiliated Guarantor.
Each Guarantor and Affiliated Guarantor further agrees that its Guarantee herein shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of principal of or interest on any Guaranteed Obligation is rescinded or must otherwise be restored by any holder or the Trustee upon the bankruptcy or reorganization of the Issuers or otherwise.
Affiliated Guarantor hereby covenants that Affiliated Guarantor will continue to keep informed of ▇▇▇▇▇▇▇▇’s financial condition, the financial condition of other guarantors, if any, and of all other circumstances which bear upon the risk of nonpayment or nonperformance of the Guaranteed Obligations.