Collateral and Guaranty Requirements definition

Collateral and Guaranty Requirements means with respect to the Vessel, the requirement that:

Collateral and Guaranty Requirements means the requirement that:

Collateral and Guaranty Requirements means with respect to each Collateral Vessel or each Credit Party, as the case may be, the requirement that:

Examples of Collateral and Guaranty Requirements in a sentence

• On or prior to the Delivery Date, the Collateral and Guaranty Requirements with respect to the Vessel shall have been satisfied or the Facility Agent shall have waived such requirements (other than the Specified Requirements) and/or conditioned such waiver on the satisfaction of such requirements within a specified period of time.

• Notwithstanding anything to the contrary in any Loan Document, no Subsidiary of Holdings listed on Schedule 6.11 shall be required to satisfy the Collateral and Guaranty Requirements prior to the date that is ninety (90) days after the Third Restatement Date (on which date (or such later date as the Administrative Agent may agree) the Collateral and Guaranty Requirements shall be required with respect to such Subsidiaries to the same extent otherwise applicable thereto).

• On or prior to each Borrowing Date, the Collateral and Guaranty Requirements with respect to each Collateral Vessel being financed on such Borrowing Date shall be satisfied or the Administrative Agent shall have waived such requirements (other than the Specified Requirements) and/or conditioned such waiver on the satisfaction of such requirements within a specified period of time.

• On or prior to the first Initial Borrowing Date, the Collateral and Guaranty Requirements with respect to the Collateral Vessel shall have been satisfied or the Facility Agent shall have waived such requirements and/or conditioned such waiver on the satisfaction of such requirements within a specified period of time.

• On or prior to the Closing Date, the Collateral and Guaranty Requirements with respect to each Credit Party and each Collateral Vessel shall be satisfied.

More Definitions of Collateral and Guaranty Requirements

Collateral and Guaranty Requirements means, at any time, the requirement that:

Collateral and Guaranty Requirements means the requirements set forth in clauses (b) and (c) of Section 6.12, subject to clause (d) of such Section.

Collateral and Guaranty Requirements means the requirements set forth in Section 6.12.

Collateral and Guaranty Requirements means to cause any such Person (a) to (i) become a Loan Party by executing and delivering to the Agent a Joinder to this Agreement or a Joinder to the Facility Guaranty or such other documents as the Agent shall deem appropriate for such purpose, (ii) xxxxx x Xxxx to the Agent on such Person’s assets of the same type that constitute Collateral to secure the Obligations, and (iii) deliver to the Agent documents of the types referred to in clauses (iii) and (iv) of Section 4.01(a) and, if reasonably requested by Agent, favorable opinions of counsel to such Person (which shall cover, among other things, the legality, validity, binding effect and enforceability of the documentation referred to in clause (a)), and (b) if any Equity Interests or Indebtedness of such Person are owned by or on behalf of any Loan Party, to pledge such Equity Interests and promissory notes evidencing such Indebtedness, in each case in form, content and scope reasonably satisfactory to the Agent in accordance with the provisions of the Security Agreement. In no event shall compliance with these requirements waive or be deemed a waiver or Consent to any transaction giving rise to the need to comply with these requirements if such transaction was not otherwise expressly permitted by this Agreement or constitute or be deemed to constitute, with respect to any Subsidiary, an approval of such Person as a Borrower or permit the inclusion of any acquired assets in the computation of the Borrowing Base.

Collateral and Guaranty Requirements means, with respect to each Obligor and each Collateral Vessel, the requirements that:

Collateral and Guaranty Requirements means with respect to the Vessel, the requirement that: -5-

Collateral and Guaranty Requirements appearing in Section 1.01 of the Credit Agreement is hereby amended by deleting the text “(f)” in clause (vii) appearing in said definition and inserting the text “(e)” in lieu thereof.