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 assigned to such term in Section 5.09(b).
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Elective Guarantor has the meaning set forth in the defined term “Guarantors”.
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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 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 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.

  • 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 wholly-owned Material Subsidiary.

  • 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 wholly-owned Material Subsidiary.

  • 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 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.

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

  • 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.

  • 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.


More Definitions of Elective Guarantor

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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Elective Guarantor has the meaning set forth in the defined term “Guarantors”. “Eligible Accounts” means all of the Accounts owned by any Loan Party, except any Accounts as to which any of the exclusionary criteria set forth below applies; provided that the face amount of an Account (and Eligible Account) shall be reduced by, without duplication, to the extent not reflected in such face amount, the amount of all discounts, claims, credits or credits pending, unapplied cash amounts, contractual allowances, promotional program allowances, rebates, price adjustments, finance and service charges or other allowances (including any amount that any Loan Party may be obligated to rebate to a customer pursuant to the terms of any agreement or understanding). Eligible Accounts shall not include any Account of a Loan Party that: (a) the Account Debtor of which is not a Third Party Payor; (b) does not arise from the sale of goods or the performance of services by a Loan Party in the ordinary course of its business; (c)
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Related to Elective Guarantor

  • Canadian Guarantor means each Guarantor that is incorporated or otherwise organized under the laws of Canada or any province or territory thereof.

  • U.S. Guarantor means a Guarantor whose jurisdiction of organisation is a state of the United States or the District of Columbia.

  • Non-Guarantor means any Restricted Subsidiary that is not a Guarantor.

  • Non-Guarantor Subsidiary means any Restricted Subsidiary that is not a Subsidiary Guarantor.

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

  • Eligible Guarantor means an entity that (A) has credit ratings at least equal to the Approved Ratings Threshold or (B) has credit ratings at least equal to the Required Ratings Threshold, provided, for the avoidance of doubt, that an Eligible Guarantee of an Eligible Guarantor with credit ratings below the Approved Ratings Threshold will not cause a Collateral Event (as defined in the Credit Support Annex) not to occur or continue.

  • Guarantor Subsidiary means each Guarantor other than Holdings.

  • Canadian Subsidiary Guarantor each Canadian Subsidiary of any Canadian Borrower which executes and delivers the Canadian Guarantee and Collateral Agreement, in each case, unless and until such time as the respective Canadian Subsidiary Guarantor ceases to constitute a Canadian Subsidiary of the Parent Borrower or is released from all of its obligations under the Canadian Guarantee and Collateral Agreement in accordance with the terms and provisions thereof.

  • Subsidiary Guarantor means each Subsidiary that has executed and delivered a Subsidiary Guaranty.

  • Foreign Guarantor means Parent and each Guarantor that is a Foreign Subsidiary.

  • Wholly Owned Subsidiary Guarantor any Subsidiary Guarantor that is a Wholly Owned Subsidiary of the Borrower.

  • U.S. Subsidiary Guarantor means each U.S. Subsidiary which has executed and delivered to the U.S. Administrative Agent the U.S. Subsidiary Guaranty (or a supplement thereto).

  • Loan Guarantor means each Loan Party.

  • Non-Paying Guarantor has the meaning assigned to such term in Section 10.11.

  • Seller Guarantor has the meaning set forth in the Preamble.

  • 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 ECP Guarantor means, in respect of any Swap Obligation, each Loan Party that has total assets exceeding $10,000,000 at the time the relevant Guarantee or grant of the relevant security interest becomes effective with respect to such Swap Obligation or such other person as constitutes an “eligible contract participant” under the Commodity Exchange Act or any regulations promulgated thereunder and can cause another person to qualify as an “eligible contract participant” at such time by entering into a keepwell under Section 1a(18)(A)(v)(II) of the Commodity Exchange Act.

  • Guarantor Payment as defined in Section 5.11.3.

  • Paying Guarantor has the meaning assigned to such term in Section 10.11.

  • Non-Guarantor Subsidiaries means, as of any date of determination, a collective reference to:

  • Purchasing Borrower Party means Holdings or any subsidiary of Holdings.

  • Subsidiary Loan Party means each Subsidiary of the Borrower that is a party to the Guarantee Agreement.

  • Swap Guarantor If so specified in the Supplement with respect to any Series, the guarantor specified as such in such Supplement.

  • Obligated Party has the meaning assigned to such term in Section 10.02.

  • 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.

  • Cooperative group means a formal network of facilities that collaborate on research projects and