Discretionary Guarantor definition

Discretionary Guarantor has the meaning assigned to such term in the definition of “Guarantor”.

Discretionary Guarantor has the meaning assigned to such term in Section 5.12(c).

Discretionary Guarantor as defined in Section 9.18.

Examples of Discretionary Guarantor in a sentence

• The Credit Parties shall pledge, or cause to be pledged, the equity interests of each Restricted Subsidiary that is or becomes a Credit Party; provided that the equity interests of any Discretionary Guarantor shall only be required to be pledged if such equity interests are owned by another Credit Party and not otherwise excluded from the Collateral pursuant to the Agreed Security Principles.

• Permitted Receivables Financing Subsidiaries; provided, that any Subsidiary described above shall be deemed not to be an Excluded Subsidiary during any period when such Subsidiary is a Discretionary Guarantor (other than for purposes of determining whether such Subsidiary is required to remain as a Subsidiary Guarantor pursuant to the terms of this Agreement).

• It is understood and agreed that, as a condition to the effectiveness of any joinder of any Group Member or other Person as a “Discretionary Guarantor” under the ABL Credit Agreement, such Group Member shall have become a Discretionary Guarantor hereunder, pursuant to and in accordance with the provisions of this Section 9.20.

More Definitions of Discretionary Guarantor

Discretionary Guarantor means any Subsidiary of the Borrower that is designated by the Borrower as a Discretionary Guarantor and to which the Administrative Agent provides consent (such consent not to be unreasonably withheld or delayed; provided that the Administrative Agent may withhold such consent if it determines, in its reasonable credit judgment, that such Subsidiary would not provide customary credit support to the Obligations substantially similar to that provided by Credit Parties that are Domestic Subsidiaries, which determination may be based upon (A) the amount and enforceability of, and any limitations applicable to, the Obligations Guarantee that would be provided by the relevant Person, (B) the value (including after giving consideration to the extent of perfection and priority of Liens on such Collateral) and enforceability of any security interest that may be granted with respect to any Collateral of the relevant Person and (C) any political risk associated with the relevant jurisdiction). As of the date hereof, NX Utilities ULC, a British Columbia unlimited liability company, constitutes a Discretionary Guarantor.

Discretionary Guarantor has the meaning set forth in the definition of “Excluded Subsidiary”.

Discretionary Guarantor means any Restricted Subsidiary that is a Domestic Subsidiary that, at the option of the Parent Borrower, in its sole discretion, has been designated (or redesignated) as a Guarantor unless and until such time, if any, that such Restricted Subsidiary has been redesignated, at the option of the Parent Borrower, in its sole discretion, as an Excluded Subsidiary, in each case, in accordance with Section 6.12(b).

Discretionary Guarantor means any Subsidiary or Parent Entity that becomes a Guarantor solely at the election of the Borrower in compliance with the requirements of Sections 9.11, 9.12 and 9.14.

Discretionary Guarantor means any Subsidiary and/or Parent Company (other than Holdings) that is designated by the Borrower Representative as a Discretionary Guarantor; provided, that (a) solely in the case of any Non-US Subsidiary (other than a Canadian Person) or any such Parent Company organized under the laws of any jurisdiction other than the U.S., any state thereof or the District of Columbia (each, a “Non-US Discretionary Guarantor”), the Administrative Agent shall be reasonably satisfied with the jurisdiction of organization of such Person (such jurisdiction, together with the US and Canada, each, a “Qualified Jurisdiction”) and (b) the Administrative Agent shall have received at least two Business Days prior to such Non-US Discretionary Guarantor becoming a Discretionary Guarantor all documentation and other information in respect of such Non-US Discretionary Guarantor as has been reasonably requested by the Administrative Agent in writing that is required under applicable AML Legislation (and, upon any request made by a Lender to the Administrative Agent, the Administrative Agent will provide the Lenders with all such information made available to it).

Discretionary Guarantor means each Immaterial Subsidiary of the Company that elects to provide (and so provides) a Guaranty of the Secured Obligations by becoming a party to the Guarantee Agreement pursuant to Section 6.12 (or, as applicable, by continuing to be a party thereto after ceasing to be a Required Guarantor).

Discretionary Guarantor means each Immaterial Subsidiary of the Company, if any, that elects to provide a Guarantee.