Examples of Limited Recourse Guarantor in a sentence
The Account Party will request the issuance of Letters of Credit solely for the working capital requirements and general corporate purposes of (i) the Limited Recourse Guarantor and/or (ii) any direct or indirect Subsidiary or Minority Investment of the Limited Recourse Guarantor (other than the Account Party, except in respect of any Additional L/C Facility Agreements), including to support Commodity Hedging Obligations (as defined under the Parent Credit Agreement).
Neither the Account Party nor the Limited Recourse Guarantor (a) intends to treat the Transactions or any of the other transactions contemplated by any Loan Document as being a “reportable transaction” (within the meaning of Treasury Regulation Section 1.6011-4) or (b) is aware of any facts or events that would result in such treatment.
At all times own 100% of the Capital Stock of the Account Party (other than any special membership interest owned by, or by Persons on behalf of, or at the request of, the Issuing Bank or any other issuing bank under any Additional L/C Facility Agreement) such that the Account Party shall at all times be (except for any such special membership interest) a wholly owned subsidiary of the Limited Recourse Guarantor.
The Limited Recourse Guarantor hereby covenants that any payments made by the Limited Recourse Guarantor pursuant to this Article VII will be paid as specified in Section 2.13.
The Limited Recourse Guarantor waives diligence, presentment, protest, demand for payment and notice of default or nonpayment to or upon the Account Party with respect to the L/C Obligations.