Existing Guaranty Agreement definition
Examples of Existing Guaranty Agreement in a sentence
The Employer may grant half of the retirement gratuity entitlement to those Employees resigning after not less than 10 years’ service as a result of ill health.
This Guaranty is given in substitution for the Existing Guaranty Agreement, is in no way intended to constitute a novation of the Existing Guaranty Agreement and the guarantees in the Existing Guaranty Agreement hereby are renewed and extended and shall be continuing.
Each Guarantor party to the Existing Guaranty Agreement affirms its duties and obligations under the terms and conditions of the Existing Guaranty Agreement, and agrees that its guaranty of the repayment of the Company’s obligations outstanding under the Existing Credit Agreement, as amended and restated as of the date hereof by the Credit Agreement, remains in full force and effect and is hereby ratified, reaffirmed and confirmed.
Each Guarantor acknowledges and agrees with the Administrative Agent that the Existing Guaranty Agreement is amended, restated, and superseded in its entirety pursuant to the terms hereof.
This Guaranty is not intended as, and shall not be construed as, a release or novation of any obligation of any Guarantor pursuant to the Existing Guaranty Agreement.