Foreign Obligation definition
Examples of Foreign Obligation in a sentence
Each of the Foreign Guarantors further agrees that the Foreign Obligations may be extended or renewed, in whole or in part, without notice to or further assent from it, and that it will remain bound upon its guaranty notwithstanding any extension or renewal of any Foreign Obligation.
The Administrative Agent shall not be required to verify the payment of, or that other satisfactory arrangements have been made with respect to, Secured Obligations arising under Secured Cash Management Agreements, Secured Hedge Agreements or Foreign Obligation Loan Documents in the case of a Facility Termination Date.
Each Cash Management Bank, Hedge Bank or Foreign Obligation Provider not a party to this Agreement that has given the notice contemplated by the preceding sentence shall, by such notice, be deemed to have acknowledged and accepted the appointment of the Administrative Agent pursuant to the terms of Article IX for itself and its Affiliates as if a “Lender” party hereto.
Each of the Foreign Guarantors agrees that its guaranty hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of any Foreign Obligation is rescinded or must otherwise be restored by the Collateral Agent or any other Secured Party upon the bankruptcy or reorganization of any Foreign Borrower or any other Foreign Credit Party or otherwise.
This indemnity will constitute a Foreign Obligation separate and independent from the other Foreign Obligations contained in this Foreign Guaranty, will give rise to a separate and independent cause of action, will apply irrespective of any indulgence granted by the Collateral Agent or the Administrative Agent or any other Secured Party and will continue in full force and effect notwithstanding any judgment or order in respect of any amount due hereunder or under any judgment or order.
If the amount of the Original Currency that the Collateral Agent or the Administrative Agent, as applicable, is able to purchase is less than the amount of such currency originally due to it in respect to the relevant Foreign Obligation, the Foreign Guarantor will indemnify and save the Collateral Agent, the Administrative Agent and each other Secured Party harmless from and against any loss or damage arising as a result of such deficiency.
Except as otherwise provided in the Credit Agreement, each Foreign Guarantor will make payment relative to each Foreign Obligation in the currency (the “Original Currency”) in which the applicable Foreign Borrower or Foreign Credit Party is required to pay such Foreign Obligation.
The Foreign Borrowers further agree that the due and punctual payment of such Foreign Obligations may be extended or renewed, in whole or in part, without notice to or further assent from it, and that it will remain bound upon its guarantee hereunder notwithstanding any such extension or renewal of any such Foreign Obligation.
If the amount of the Original Currency that the Applicable Agent or the Collateral Agent, as applicable, is able to purchase is less than the amount of such currency originally due to it in respect to the relevant Foreign Obligation, the Foreign Guarantor will indemnify and save each Agent and each other Secured Party harmless from and against any loss or damage arising as a result of such deficiency.
Each future Foreign Secured Party, whether a Lender or a holder of any Foreign Obligation, shall be deemed to have ratified and confirmed (for itself and on behalf of each of its Affiliates that are or become Foreign Secured Parties from time to time) the appointment of the Administrative Agent as the Representative.