Examples of Fund Guarantors in a sentence
Administrative Agent (on behalf of the Lenders) may exercise remedies against each Fund Guarantor and its property separately, whether or not Administrative Agent exercises remedies against the other Fund Guarantors or their properties.
Any failure or inability of Administrative Agent to enforce one or more Fund Guarantor’s obligations shall not in any way limit Administrative Agent’s right to enforce the obligations of the other Fund Guarantors.
Notwithstanding the foregoing, Fund Guarantors shall be jointly and severally liable to the Lenders for all representations, warranties, covenants, obligations and indemnities of the Qualified Borrowers, including, without limitation, the Fund Guaranteed Obligations, and Administrative Agent and the Lenders may at their option enforce the entire amount of the Fund Guaranteed Obligations against any one or more Fund Guarantors.
The Fund Guarantors shall hold any such cash collateral for, and may apply such cash collateral to, the payment and performance of the obligations of the Borrower under this Agreement.
The Borrower also agrees promptly to notify the Fund Guarantors if any material portion of the Collateral is damaged or destroyed.
If any Tax is withheld or deducted from, or is otherwise payable by the Borrower in connection with, any payment payable to the Fund Guarantors hereunder, the Borrower shall, as soon as reasonably possible after the date of such payment, furnish to the Fund Guarantors the original or a certified copy of a receipt for such Tax from the applicable taxing authority.
The Borrower shall promptly give notice to the Fund Guarantors of any default or event of default under the Revolving Credit Loan Documentation upon a Financial Officer of Borrower obtaining knowledge thereof.
If any additional Subsidiary is formed or acquired after the Effective Date, the Borrower will, within ten (10) Business Days after such Subsidiary is formed or acquired, notify the Fund Guarantors and cause the Collateral and Guarantee Requirement to be satisfied with respect to such Subsidiary (if it is a Subsidiary Reimbursement Party) and with respect to any Equity Interest in or Indebtedness of such Subsidiary owned by or on behalf of any Reimbursement Party.
The Borrower agrees not to effect or permit any change referred to in the preceding sentence unless all filings have been made, or will have been made within any statutory period, under the Uniform Commercial Code or otherwise that are required in order for the Fund Guarantors to continue at all times following such change to have a valid, legal and perfected security interest in all the Collateral for the benefit of the Secured Parties.
If any Fund Guarantor shall obtain payment for any amounts due under Sections 2.01 and 2.02 in a greater proportion than as set forth in the preceding sentence, such Fund Guarantor agrees to ratably share such payment with the other Fund Guarantors.