Guaranty Termination Event definition
Examples of Guaranty Termination Event in a sentence
If a Guaranty Termination Event has occurred, then Manager may, without any obligation and in its sole and absolute discretion, fund up to the Post-Guaranty Termination Threshold, and any such amounts funded by Manager following such Guaranty Termination Event shall be deemed Additional Manager Advances.
Notwithstanding the foregoing, the Parent will not be released from the Guaranty as a result of the occurrence of the Subsidiary Guaranty Termination Event, and the Guaranty shall remain in full force and effect with respect to the Parent.
Unless and until a Repayment Guaranty Termination Event shall occur, Guarantor shall maintain Unencumbered Liquid Assets having an aggregate market value of not less than Five Million Dollars ($5,000,000).
Within five (5) Business Days after a Sweep Guaranty Termination Event, Borrower shall provide Lender with its good faith calculation of such amount, with reasonable backup, for Administrative Agent’s approval.
After the occurrence of a Sweep Guaranty Termination Event, any Sweep Guaranty delivered prior to such date shall terminate upon Borrower’s compliance with Section 8.5(c) of this Agreement.
An association is not subject to the laws on bankruptcy, however an association that is unable to pay its debts may be resolved by court decision upon the initiative of a creditor.
Unless and until a Repayment Guaranty Termination Event shall occur, Guarantor shall maintain Leverage Ratio not to exceed sixty-five percent (65%).
Unless and until a Repayment Guaranty Termination Event shall occur, Guarantor shall comply with the terms and conditions of Schedule 6 with respect to financial covenants as described therein.
Unless and until a Repayment Guaranty Termination Event shall occur, Guarantor shall maintain a Leverage Ratio of not greater than seventy percent (70%).
Unless and until a Repayment Guaranty Termination Event shall occur, Guarantor shall maintain on a consolidated basis a Net Worth equal to at least One Hundred Fifty Million Dollars ($150,000,000).