New Guarantor definition
Examples of New Guarantor in a sentence
No modification, amendment or waiver of any provision of this Article 2, nor the consent to any departure by any New Guarantor therefrom, shall in any event be effective unless the same shall be in writing and signed by the Trustee, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given.
Section 5.14 of the Loan Agreement and Section 8 of the Guaranty provides that after the issuance date of the Series 2026A Bonds, the Company is required to cause the New Guarantor to execute and deliver to the Trustee a Joinder pursuant to which such New Guarantor will unconditionally guarantee, on a joint and several basis with the other Guarantors, the payment of the Guaranteed Obligations pursuant to the Guaranty.
Section 1010 of the Indenture provides that if any Subsidiary of the Parent Guarantor which is not a Guarantor becomes a Relevant Guarantor, then within 30 days of such Subsidiary becoming a Relevant Guarantor, the Parent Guarantor shall cause that Subsidiary to also become a Guarantor of all amounts due and owing on the Securities Outstanding under the Indenture by such New Guarantor, the Issuer and the Trustee executing and delivering a New Guarantor Supplemental Indenture within such 30 days.
Neither the Issuer nor any New Guarantor shall be required to make a notation on the Notes to reflect any Guarantee or any release, termination or discharge thereof.
The New Guarantor hereby becomes a party to the Guaranty as a Guarantor and as such will have all of the rights and be subject to all of the obligations and agreements of a Guarantor under the Guaranty.