Guaranty Requirement definition
Guaranty Requirement has the meaning given that term in Section 8.14(a).
Guaranty Requirement means the requirements under Section 6.14 are in effect because the Guaranty Trigger has occurred and the Release Date has not occurred.
Guaranty Requirement means, at any time, that (a) the AI Guaranty Agreement shall have been executed by (i) each Domestic Subsidiary that is or becomes either a Borrowing Subsidiary (as defined in the Revolving Credit Agreement) or a Subsidiary Guarantor (as defined in the Revolving Credit Agreement), and (ii) each other Domestic Subsidiary (other than (A) any Domestic Subsidiary that is a subsidiary of a Foreign Subsidiary, (B) any Domestic Subsidiary that (x) does not conduct any business operations, (y) has assets with a total book value not in excess of $1,000 and (z) does not have any Indebtedness outstanding and (C) any Subsidiary that is created as a result of a Permitted AEC Transaction), in each case existing at such time, shall have been delivered to the Required Holders and shall be in full force and effect, (b) the Indemnity, Subrogation and Contribution Agreement (or a supplement thereto) shall have been executed by the Company and each Domestic Subsidiary party to the AI Guaranty Agreement, shall have been delivered to the Required Holders and shall be in full force and effect, and (c) as to each Subsidiary that shall become a party to the AI Guaranty Agreement after the Date of Closing, each holder of Notes shall have received documents comparable to those delivered under paragraph 3A with respect to Subsidiaries party to such AI Guaranty Agreement on the Date of Closing (other than in connection with the Blue Falcon Acquisition an opinion under paragraph 3A(ii)(a)).
Examples of Guaranty Requirement in a sentence
Prior to the Investment Grade Release, to the extent necessary to satisfy the Guaranty Requirement, the Borrower shall cause each Eligible Subsidiary that is not already a Guarantor to become a Guarantor and deliver or cause to be delivered to the Administrative Agent the Subsidiary Guaranty Documents not later than the thirtieth (30th) day following the delivery of a Compliance Certificate pursuant to Section 9.3 (or such later date as the Administrative Agent may agree).
More Definitions of Guaranty Requirement
Guaranty Requirement means the requirement that, as of the end of any fiscal quarter occurring prior to the Investment Grade Release, after giving pro forma effect to any Eligible Subsidiary that shall become a Subsidiary Guarantor following such fiscal quarter within the applicable time period provided in this Section 8.14(a), Unencumbered Asset Value attributable to Eligible Properties directly owned in fee simple by, or subject to a Qualified Ground Lease to, the Borrower and the Guarantors and any Subsidiary that directly or indirectly owns the K▇▇▇▇▇▇▇▇▇▇▇▇ Hotel shall not be less than 95% of the total Unencumbered Asset Value as of the last day of such fiscal quarter.
Guaranty Requirement means the requirement that, as of the end of any fiscal quarter occurring (x) prior to the Investment Grade Release or (y) during any Collateral Period, after giving pro forma effect to any Eligible Subsidiary that shall become a Subsidiary Guarantor following such fiscal quarter within the applicable time period provided in this Section 8.14(a), Unencumbered Asset Value (or during the Restriction Period, the Revised Unencumbered Asset Value) attributable to Borrowing Base Properties directly owned in fee simple by, or subject to a Qualified Ground Lease to, the Borrower and the Guarantors shall not be less than 90% of the total Unencumbered Asset Value (or during the Restriction Period, the Revised Unencumbered Asset Value) as of the last day of such fiscal quarter.
Guaranty Requirement means, at any time, that (a) the AI Guaranty Agreement shall have been executed by (i) each Domestic Subsidiary that is or becomes either a Borrowing Subsidiary (as defined in the Revolving Credit Agreement) or a Subsidiary Guarantor (as defined in the Revolving Credit Agreement), and (ii) each other Domestic Subsidiary (other than (A) any Domestic Subsidiary that is a subsidiary of a Foreign Subsidiary, (B) any Domestic Subsidiary that (x) does not conduct any business operations, (y) has assets with a total book value not in excess of $1,000 and (z) does not have any Indebtedness outstanding and (C) any Subsidiary that is created as a result of a Permitted AEC Transaction), in each case existing at such time, shall have been delivered to the Required Holders and shall be in full force and effect, (b) the Indemnity, Subrogation and Contribution Agreement (or a supplement thereto) shall have been executed by the Company and each Domestic Subsidiary party to the AI Guaranty Agreement, shall have been delivered to the Required Holders and shall be in full force and effect, and (c) as to each Subsidiary that shall become a party to the AI Guaranty Agreement after the Date of Closing, each holder of Notes shall have received documents comparable to those delivered under paragraph 3A with respect to Subsidiaries party to such AI Guaranty Agreement on the Date of Closing.