Limited Recourse Guarantee definition

Limited Recourse Guarantee is defined in Section 6.01(c).

Limited Recourse Guarantee means, with respect to any Non-Recourse Debt of a Joint Venture or Unrestricted Subsidiary, any Guarantee of such Debt by any related Joint Venture Holding Company, including a pledge by any such Joint Venture Holding Company of the Capital Stock and other Investments held in such Joint Venture or Unrestricted Subsidiary, provided that in any event such Guarantee and pledge are non-recourse in all respects to the Company and its Restricted Subsidiaries other than such Joint Venture Holding Company.

Limited Recourse Guarantee means the Limited Recourse Guarantee dated as of March 2, 1998 between the Pledgor and the Participating Holders.

Examples of Limited Recourse Guarantee in a sentence

• The obligations of the Limited Recourse Pledgor under its Limited Recourse Guarantee shall be limited to an aggregate amount equal to the lesser of (x) the largest amount that would not render such Limited Recourse Guarantee subject to avoidance under Section 548 of the United States Bankruptcy Code or any comparable provisions of applicable law and (y) the value of the Collateral that is subject to this Agreement.

• Subject always to Clause 5(7) (Limitation of Recourse) of the Limited Recourse Guarantee and Clause 2 (Limitation of Recourse) hereof, the Chargor covenants with the Minister to pay, perform and discharge to the Minister all present and future monies, obligations and liabilities which are now or shall for the time being be due owing or incurred to the Minister by the Chargor under and pursuant to the Limited Recourse Guarantee on the due date and in the manner provided in the Limited Recourse Guarantee.

• Limited Recourse Guarantee Agreement dated October 30, 2018 governed by the laws of the Province of British Columbia and entered into among Solius Holdco and the Administrative Agent, as confirmed by a confirmation dated April 11, 2019.

• This Guarantee amends and restates the Limited Recourse Guarantee Agreement, dated as of March 2, 1998, by the Pledgor for the benefit of AIF II, L.P. and Artemis America Partnership and supersedes all prior agreements and understandings, written or oral, among the parties with respect to the subject matter of this Agreement.

• If at any time any payment of a Secured Obligation is rescinded or must be otherwise restored or returned upon the insolvency or receivership of the Borrower or otherwise, the Limited Recourse Guarantee shall be reinstated with respect thereto as though such payment had been due but not made at such time.

More Definitions of Limited Recourse Guarantee

Limited Recourse Guarantee means the Limited Recourse Pledgor’s guarantee of the Secured Obligations under Section 2 hereof.

Limited Recourse Guarantee has the meaning specified in Section 2.13(1)(c).

Limited Recourse Guarantee means a Guarantee by the Issuer or any Restricted Subsidiary of

Limited Recourse Guarantee means a guarantee by the Issuer or any Restricted Subsidiary of

Limited Recourse Guarantee means that certain Limited Recourse Guarantee made on or about the DIP Closing Date, as the same may be amended, restated, supplemented, or otherwise modified from time to time in accordance with the terms thereof and hereof, made by Blackstone Capital Partners VI NQ/NF L.P., as guarantor, to and for the benefit of Barclays Bank PLC, as administrative agent for the purchasers under the DIP Repo Facility Agreement.

Limited Recourse Guarantee means the limited recourse guarantee entered into by the Chargor in favour of the Minister on or about the date hereof;

Limited Recourse Guarantee means, in respect of any Permitted Funding Indebtedness or Permitted Securitization Indebtedness, any obligation of a Person other than a primary obligor in respect of such Permitted Funding Indebtedness or Permitted Securitization Indebtedness either (1) arising from (A) a “bad-boy” guarantee customary for financings of that type, (B) exceptions to the limit on recourse to the assets financed by such Permitted Funding Indebtedness or Permitted Securitization Indebtedness for matters customary for financings of that type, including in respect of breach of representations, fraud, misapplication or misappropriation of cash, voluntary or involuntary bankruptcy filings, violation of prohibitions on transfers of assets and environmental liabilities, and (C) liabilities and other circumstances excluded from exculpation, indemnification or guarantee provisions that are customarily excluded from financings of that type or (2) in the case of Permitted Funding Indebtedness, that is limited to no more than 5% of the principal amount of such Permitted Funding Indebtedness (or such other amount representing the liability amount in respect of such Permitted Funding Indebtedness).