GUARANTY INDEBTEDNESS definition
GUARANTY INDEBTEDNESS means any obligation, contingent or otherwise, of any referenced PERSON directly or indirectly guaranteeing any debt or obligation of any other PERSON and, without limiting the generality of the foregoing, any obligation, direct or indirect, contingent or otherwise, of such PERSON: (a) to purchase or pay (or advance or supply funds for the purchase or payment of) such debt or obligation (whether arising by virtue of partnership arrangements, by agreement to keep-well, to purchase assets, goods, securities or services, to take-or-pay, or to maintain financial statement conditions or otherwise, other than agreements to purchase goods at an arm’s length price in the ordinary course of business); or (b) entered into for the purpose of assuring in any other manner the holder of such debt or obligation of the payment thereof or to protect such holder against loss in respect thereof (in whole or in part). The term GUARANTY INDEBTEDNESS shall not include endorsements for collection or deposit in the ordinary course of business.
GUARANTY INDEBTEDNESS means with respect to all Indebtedness of the type identified in clauses (i) through (iv) of the definition of Indebtedness, to the extent such Indebtedness is owed to any Person other than Holding or any Subsidiary of Company (x) the direct or indirect guaranty, endorsement (otherwise than for collection or deposit in the ordinary course of business), co-making, discounting with recourse or sale with recourse by Company or any of its Restricted Subsidiaries of such Indebtedness and (y) any obligation of Company or any of its Restricted Subsidiaries the primary purpose or intent of which is to provide assurance to an obligee with respect to such Indebtedness that the obligation of the obligor thereof will be paid or discharged, or any agreement relating thereto will be complied with, or the holders thereof will be protected (in whole or in part) against loss in respect thereof.
GUARANTY INDEBTEDNESS means any obligation, contingent or otherwise, of any referenced person directly or indirectly guaranteeing any debt or obligation of any other person and, without limiting the generality of the foregoing, any obligation, direct or indirect, contingent or otherwise, of such person: (a) to purchase or pay (or advance or supply funds for the purchase or payment of) such debt or obligation (whether arising by virtue of partnership arrangements, by agreement to keep-well, to purchase assets, goods, securities or services, to take-or-pay, or to maintain financial statement conditions or otherwise, other than agreements to purchase goods at an arm’s length price in the ordinary course of business); or (b) entered into for the purpose of assuring in any other manner the holder of such debt or obligation of the payment thereof or to protect such holder against loss in respect thereof (in whole or in part) The term Guaranty Indebtedness shall not include endorsements for collection or deposit in the ordinary course of business.
Examples of GUARANTY INDEBTEDNESS in a sentence
The term GUARANTY INDEBTEDNESS shall not include endorsements for collection or deposit in the ordinary course of business.
More Definitions of GUARANTY INDEBTEDNESS
GUARANTY INDEBTEDNESS means with respect to all Indebtedness of the type identified in clauses (i) through (iv) of the definition of Indebtedness, to the extent such Indebtedness is owed to any Person other than Holding or any Subsidiary of Company (x) the direct or indirect guaranty, endorsement (otherwise than for collection or deposit in the ordinary course of business), co-making, discounting with recourse or sale with recourse by Company or any of its Restricted Subsidiaries of such Indebtedness and (y) any obligation of Company or any of its Restricted Subsidiaries the primary purpose or intent of which is to provide assurance to an obligee with respect to such Indebtedness that the obligation of the obligor thereof will be paid or discharged, or any agreement relating thereto will be complied with, or the holders thereof will be protected (in whole or in part) against loss in respect thereof. “Hazardous Materials” means any explosive, radioactive, hazardous or toxic chemical, material or substance, or other pollutants, including petroleum or petroleum distillates, asbestos or asbestos-containing materials, polychlorinated biphenyls, radon gas, infectious or medical wastes prohibited, limited or regulated pursuant to any Environmental Law. “Hedge Agreements” means all interest rate or currency swaps, caps or collar agreements, foreign exchange agreements, commodity contracts or similar arrangements entered into by Company or its Subsidiaries providing for protection against fluctuations in interest rates, currency exchange rates, commodity prices or the exchange of nominal interest obligations, either generally or under specific contingencies, including any Commodities Agreements. -32- 105376510
GUARANTY INDEBTEDNESS of the Company for borrowed money, the Company agrees to cause such Subsidiary to guaranty the Notes concurrently therewith to the same extent. Upon receipt of evidence satisfactory to you and the other holders of the Notes that the bank lenders to the Company (and any other lenders which may have refinanced any Indebtedness of the Company to its banks) have released any Subsidiary Guarantor from all Guaranties of Indebtedness to such banks (and any such other lenders), you and the other holders of Notes agree to release such Subsidiary Guarantor from the Subsidiary Guaranty promptly thereafter.
GUARANTY INDEBTEDNESS means all principal, interest and other amounts payable or chargeable by Company in connection with the Subordinated Limited Guaranty or any other credit or collateral support (whether primary, secondary, direct, indirect or contingent) extended by the Company for the benefit of Mad Catz Europe Ltd. and in favor of Foreign Lender.