German GmbH Guarantor definition
Examples of German GmbH Guarantor in a sentence
In relation to any additional amounts for which the German GmbH Guarantor is liable under the Guarantee, the Finance Parties shall be entitled to further pursue their claims (if any) and the relevant German GmbH Guarantor shall be entitled to prove that this amount is necessary for maintaining its stated share capital (calculated as of the date the demand under the Guarantee was made).
If the German GmbH Guarantor fails to deliver the Management Determination or the Balance Sheet within the aforementioned time periods, the Finance Parties shall be entitled to enforce the Guarantee irrespective of the limitations set out in paragraph (b) above.
Such Auditors’ Determination shall be prepared in accordance with the principles set out in the proviso to Subsection 2.1(g)(ii) above and shall be binding on the German GmbH Guarantor and the Administrative Agent.
If and to the extent the relevant German GmbH Guarantor fails to comply with its obligation under the preceding sentence, the German GmbH Guarantor and the Collateral Agent will liaise with each other and the German GmbH Guarantor shall use its best efforts to make further attempts to dispose of such relevant asset on more beneficial terms and keep the Collateral Agent informed about its progress on a continuous basis.
After the expiry of such three month period the relevant German GmbH Guarantor shall, within ten (10) Business Days, notify the Administrative Agent of the amount of the proceeds from the sale and submit a statement with a new calculation of the amount of the Net Assets taking into account such proceeds.