Member Guaranty definition

Member Guaranty means the Member Guaranty, dated as of the date hereof, from Member to Buyer, as the same may be amended, modified and/or restated from time to time.

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Member Guaranty. Any guarantor or account holder who signs below (“Guarantor”) guarantees the full payment of all amounts owed to Gold’s Gym under this Agreement, including amounts associated with any “Household Add-On” noted on the first page of this Agreement. This is a guaranty of payment and not collection and will be effective without notice of acceptance by the beneficiary hereof. This is a continuing guaranty. Gold’s Gym may extend the time allowed for payment, modify this Agreement and release other parties to this Agreement without affecting the obligation of Guarantor. Member / Guarantor’s Name (Please Print): x Member / Guarantor’s Signature: x DATE: Legal Guardian: Any Member who is under the age of 18 must have a parent or legal guardian (“Legal Guardian”). Legal Guardian shall be jointly and severally liable for any and all obligations of such Member hereunder and shall be bound by all terms and conditions of this Agreement. Legal Guardian’s Name: x L egal Guardian’s Signature: x DATE:

Member Guaranty means that certain Member Guaranty, dated as of the date hereof, from Member to Buyer, as the same may be amended, modified and/or restated from time to time.

Examples of Member Guaranty in a sentence

Member acknowledges the amendments and modifications of the Repurchase Agreement pursuant to this Amendment and hereby ratifies and reaffirms all of the terms, covenants and conditions of the Member Guaranty and agrees that the Member Guaranty remains unmodified and in full force and effect and enforceable in accordance with its terms.
A Member Guaranty of any Company Debt may be provided by a Member or an Affiliate thereof in any form, including the form of a guaranty, letter of credit, pledge of collateral or other credit enhancement facility.
Member acknowledges the amendment and modification of the Repurchase Agreement pursuant to this Amendment and hereby ratifies and reaffirms all of the terms, covenants and conditions of the Member Guaranty, and agrees that the Member Guaranty remains unmodified and in full force and effect and enforceable in accordance with its terms.
For the avoidance of doubt, but subject to Section 2.12, (x) Liverpool shall not be required to make any contribution with respect to any amount paid or payable under the Family Member Guaranty Agreement and (y) no Family Member shall be required to make any contribution with respect to any amount paid or payable under the Liverpool Guaranty Agreement.
The New Member Guarantor further waives notice of the acceptance of this New Member Guaranty, presentment, demand, protest, and notices of protest, nonpayment, default or dishonor of the Obligations.
A Guarantor Loan or a Guarantor Contribution may, at the option of the holder thereof, be converted into an additional Capital Contribution, equal to the outstanding balance of such Guarantor Loan, plus accrued interest, or the amount of the distribution which would then be payable on such Guarantor Claim, as applicable, at any time from the date of the relevant Member Guaranty Payment by giving notice of such election to the other Members and to the Company.
Any Non-Collateral Property Excess Cash Flow paid to Lender under clause (ii) of Section 5.6 of the Member Guaranty and any Excess Cash Flow Reserve Funds (as defined in the Senior Loan Agreement) paid to Lender under Section 7.8.2(a)(iii)(x) of the Senior Loan Agreement shall be applied to reduce the PIK Accrued Amount.
Any liability under a Nonrecourse Carveout Guaranty shall be paid by the Members in accordance with their respective Percentage Interests in the same manner as a Member Guaranty Payment under this Section 8.9 unless one or more Member(s) committed the acts giving rise to such liability, in which case such responsible Member(s) shall be solely responsible for such liability.
The loans under the Public Loan Agreement shall be guaranteed by the Members, and such other members of LLC that may join such guaranty, pursuant to a guaranty (the "Member Guaranty") in the form attached as the Exhibit to this Section 2.4(a)(iii).
In the event that the Company fails to make payment of principal or interest on any debt incurred pursuant to Section 3.4 of which less than all members are guarantors, those Members may effect payment of the amount owed by the Company by making payment thereof directly to the creditor (hereinafter referred to as a "Member Guaranty Payment").

More Definitions of Member Guaranty

Member Guaranty means, collectively, (a) that certain Member Guaranty dated the Agreement Date between DSC and the Bank, substantially in the form of Exhibit B attached hereto, and (b) that certain Member Guaranty dated the Agreement Date between MSI and the Bank, substantially in the form of Exhibit B attached hereto.

Member Guaranty shall have the meaning set forth for such term in Section 4.2(e) hereof.

Member Guaranty has the meaning assigned to such term in the Equity Contribution Agreement.

Member Guaranty means a guaranty provided on behalf of a Member (including a Qualifying Transferee) from a Member Guarantor to guarantee the obligations of such Member hereunder, in form and substance reasonably satisfactory to the Administrative Agent (acting at the direction of the Required Lenders) and the Collateral Agent, in favor of the Collateral Agent (for the benefit of the Secured Parties).