Contingent Obligor definition

Contingent Obligor has the meaning specified in the definition of “Contingent Residual Support Agreements”.
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Contingent Obligor has the meaning specified in the definition of Contingent Residual Indemnity Agreement.
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Examples of Contingent Obligor in a sentence

  • Until this Agreement shall have been terminated in accordance with its terms, all outstanding Advances (including principal, interest and fees) have been repaid to the Lenders and all Commitments of the Lenders shall have been terminated, each Contingent Obligor will do or cause to be done all things necessary on its part to preserve and keep in full force and effect its existence and good standing as a corporation under the laws of its jurisdiction of incorporation.

  • The Administrative Agent is hereby entitled to rely on any communication given or transmitted by ACC as if such communication were given or transmitted by each and every Contingent Obligor.

  • Each Borrower and each Contingent Obligor hereby further expressly waives and covenants not to assert any appraisement, valuation, stay, extension, redemption or similar laws, now or at any time hereafter in force which might delay, prevent or otherwise impede the performance or enforcement of any Transaction Document.

  • Each Contingent Obligor waives presentment, demand, protest, notice of acceptance, notice of Guaranteed Obligations incurred and all other notices of any kind, all defenses which may be available by virtue of any valuation, stay, moratorium law or other similar law now or hereafter in effect, any right to require the marshaling of assets of any Borrower, and all suretyship defenses generally.

  • No Note Agent shall be under any obligation to any Lender to ascertain or to inquire as to the observance or performance of any of the agreements contained in, or conditions of, any of the other Transaction Documents, or to inspect the properties, books or records of any Borrower, AFS Funding Trust, any Contingent Obligor, any trustee for any Designated Series, the Master Collateral Agent or the Lender Collateral Agent.

  • Each Contingent Obligor agrees that after the occurrence of any default in the payment or performance of the Guaranteed Obligations or a Default or Event of Default with respect to payment of the principal of, and interest on, the Advances, such Contingent Obligor will not demand, ▇▇▇ for or otherwise attempt to collect any such Debt of any Borrower to such Contingent Obligor until the Guaranteed Obligations and the principal of, and interest on, the Advances shall have been paid in full.

  • Each Contingent Obligor agrees that the Guaranteed Obligations will be paid and performed strictly in accordance with their respective terms regardless of any law, regulation or order now or hereafter in effect in any jurisdiction affecting any of such terms or the rights of the Administrative Agent, the Lender Collateral Agent, the Agents or the Lenders with respect thereto.

  • If, notwithstanding the foregoing sentence, any Contingent Obligor shall collect, enforce or receive any amounts in respect of such Debt, such amounts shall be collected, enforced and received by such Contingent Obligor as trustee for the Lenders and be paid over to the Administrative Agent (for the benefit of the Lenders) on account of the Guaranteed Obligations without affecting in any manner the liability of such Contingent Obligor under Article II-A.

  • Should either Borrower default in the payment or performance of any of the Guaranteed Obligations, the obligations with respect to the payment or performance in default of each Contingent Obligor hereunder shall become immediately due and payable to the Administrative Agent (on behalf of the Lenders), without demand or notice of any nature, all of which are expressly waived by each Contingent Obligor.

  • Each Note Agent and its Affiliates may make loans to, accept deposits from and generally engage in any kind of business with any Borrower, AFS Funding Trust, any Contingent Obligor, any trustee of any Designated Series, the Master Collateral Agent or the Lender Collateral Agent as though such Note Agent were not an agent hereunder.

Related to Contingent Obligor

  • Contingent Obligation means, as to any Person, any direct or indirect liability, contingent or otherwise, of that Person with respect to any Indebtedness, lease, dividend or other obligation of another Person if the primary purpose or intent of the Person incurring such liability, or the primary effect thereof, is to provide assurance to the obligee of such liability that such liability will be paid or discharged, or that any agreements relating thereto will be complied with, or that the holders of such liability will be protected (in whole or in part) against loss with respect thereto.

  • Contingent Obligations means, with respect to any Person, any obligation of such Person guaranteeing any leases, dividends or other obligations that do not constitute Indebtedness (“primary obligations”) of any other Person (the “primary obligor”) in any manner, whether directly or indirectly, including, without limitation, any obligation of such Person, whether or not contingent:

  • Permitted Contingent Obligations means, without duplication: (a) Contingent Obligations arising in respect of the Debt under the Note Documents; (b) Contingent Obligations resulting from endorsements for collection or deposit in the Ordinary Course of Business; (c) Contingent Obligations outstanding on the date of this Agreement and set forth on Schedule 8.1 (including any refinancings, extensions, increases or amendments to the indebtedness underlying such Contingent Obligations to the extent constituting (i) Refinancing Debt or (ii) extensions of the maturity thereof without any other change in terms); (d) Contingent Obligations incurred in the Ordinary Course of Business with respect to surety and appeal bonds, performance bonds and other similar obligations not to exceed $250,000 in the aggregate at any time outstanding; (f) Contingent Obligations arising under indemnity agreements with title insurers to cause such title insurers to issue to the Purchaser mortgagee title insurance policies; (g) Contingent Obligations arising with respect to customary indemnification obligations in favor of purchasers in connection with dispositions of personal property assets permitted under Section 8.6; (h) [Reserved]; (i) so long as there exists no Event of Default both immediately before and immediately after giving effect to any such transaction, Contingent Obligations existing or arising under any Swap Contract, provided, however, that such obligations are (or were) entered into by an Obligor or an Affiliate in the Ordinary Course of Business for the purpose of directly mitigating risks associated with liabilities, commitments, investments, assets, or property held or reasonably anticipated by such Person and not for purposes of speculation; and (j) other Contingent Obligations not permitted by clauses (a) through (i) above, not to exceed $250,000 in the aggregate at any time outstanding.

  • Unasserted Contingent Obligations means all (i) unasserted contingent indemnification obligations not then due and payable and (ii) unasserted expense reimbursement obligations not then due and payable. For the avoidance of doubt, “Unasserted Contingent Obligations” shall not include any reimbursement obligations in respect of any Letter of Credit.