Elective Guarantor definition

Elective Guarantor means a Restricted Subsidiary that becomes a Guarantor pursuant to Section 5.09(b). A First Tier Subsidiary that is an Elective Guarantor shall cease to be an “Elective Guarantor” and shall become a “Required Guarantor” from and after the date that it becomes a Material Subsidiary.
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Elective Guarantor has the meaning set forth in the defined term “Guarantors”.
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Elective Guarantor has the meaning assigned to such term in Section 5.09(b).
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Examples of Elective Guarantor in a sentence

  • The Lenders authorize the Administrative Agent to release any Guarantor from its obligations as a Guarantor under this Agreement pursuant to a written request made by the Borrower, if (a) such Guarantor ceases to be a Subsidiary of the Borrower or a wholly-owned Material Subsidiary of the Borrower that is a First Tier Subsidiary as a result of a transaction permitted under this Agreement or (b) such Guarantor is an Elective Guarantor at the time of such release.

  • The Lenders authorize the Administrative Agent to release any Guarantor from its obligations as a Guarantor under this Agreement pursuant to a written request made by the Borrower, if (a) such Guarantor ceases to be a Subsidiary of the Initial Guarantor or a wholly-owned Material Subsidiary of the Initial Guarantor that is a First Tier Subsidiary as a result of a transaction permitted under this Agreement or (b) such Guarantor is an Elective Guarantor at the time of such release.

  • The Lenders authorize the Administrative Agent to release any Guarantor from its obligations as a Guarantor under this Agreement pursuant to a written request made by the Borrower, if (a) such Guarantor ceases to be a Subsidiary of the Borrower or a Material Subsidiary of the Borrower that is a First Tier Subsidiary as a result of a transaction permitted under this Agreement or (b) such Guarantor is an Elective Guarantor at the time of such release.

  • The Lenders authorize the Administrative Agent to release any Guarantor from its obligations as a Guarantor under this Agreement pursuant to a written request made by the Borrower, if (a) such Guarantor ceases to be a Required Guarantor as a result of a transaction permitted under this Agreement or (b) such Guarantor is an Elective Guarantor at the time of such release.

  • The Lenders authorize the Administrative Agent to release any Guarantor from its obligations as a Guarantor under this Agreement pursuant to a written request made by the Borrower, if (a) such Guarantor ceases to be a Subsidiary of the Borrower or a Material Subsidiary of the Borrower that is a First Tier Subsidiary as a result of a transaction permitted under this Agreement or (b) 74 such Guarantor is an Elective Guarantor at the time of such release.

  • Guarantee Requirement; Elective Guarantor 67 ARTICLE VI Negative Covenants SECTION 6.01.

  • The Borrower may cause any Elective Guarantor that has not since become a Material Domestic Subsidiary to cease being a Guarantor at any time by notice to the Administrative Agent.

  • The Borrower agrees that, if the LoyaltyOne Divestiture is no longer contemplated or anticipated to occur (as determined by the Borrower in good faith), the Borrower will cause Spinco to become an Elective Guarantor within 30 days of such determination.

  • Xxx Xxxxxxxx Title: Assistant Secretary COORS INTERNATIONAL HOLDCO 2, ULC, as Elective Guarantor By: /s/ Xxxxxxx Xxxxxx Name: Xxxxxxx Xxxxxx Title: Treasurer By: /s/ E.

  • Guarantee Requirement; Elective Guarantor 47 ARTICLE VI Negative Covenants 48 SECTION 6.01.


More Definitions of Elective Guarantor

Elective Guarantor has the meaning set forth in Section 5.09(b).
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Elective Guarantor has the meaning set forth in the defined term “Guarantors”. “Eligible Assignee” has the meaning specified in Section 10.07(a)(i).
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Related to Elective Guarantor

  • Guarantor means: .............................................................................................................................................

  • Subsidiary Guarantor means any Guarantor other than Holdings.

  • Qualified ECP Loan Party means each Loan Party that on the Eligibility Date is (a) a corporation, partnership, proprietorship, organization, trust, or other entity other than a “commodity pool” as defined in Section 1a(10) of the CEA and CFTC regulations thereunder that has total assets exceeding $10,000,000, or (b) an Eligible Contract Participant that can cause another person to qualify as an Eligible Contract Participant on the Eligibility Date under Section 1a(18)(A)(v)(II) of the CEA by entering into or otherwise providing a “letter of credit or keepwell, support, or other agreement” for purposes of Section 1a(18)(A)(v)(II) of the CEA.

  • Qualified borrower means any borrower that is a sponsoring entity that has a controlling interest in the real property that is financed by a qualified loan. A controlling interest includes, but is not limited to, a controlling interest in the general partner of a limited partnership that owns the real property.