New Obligor definition

New Obligor is defined in Section 6.15.

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New Obligor has the meaning given to it in Clause 21.3 (New Obligors).

New Obligor shall have the meaning given to that term in Section 11.17 of this Security Agreement.

Examples of New Obligor in a sentence

• The addition of the New Obligor shall not in any manner affect the obligations of the other Obligors hereunder.

• Each Obligor and Secured Party acknowledges that the schedules and exhibits hereto may be amended or modified in connection with the addition of any New Obligor to reflect information relating to such New Obligor.

• In the event a party becomes an Obligor (the “New Obligor”) pursuant to the Joinder Agreement, upon such execution the New Obligor shall be bound by all the terms and conditions hereof to the same extent as though such New Obligor had originally executed this Agreement.

• In the event a party becomes an Obligor (each, a “New Obligor”) pursuant to a Joinder Agreement, upon execution of such Joinder Agreement, such New Obligor shall be bound by all the terms and conditions hereof to the same extent as though such New Obligor had originally executed this Security Agreement.

• The New Obligor represents and warrants that the representations and warranties contained in Section 7 of the Credit Agreement, Section 2.6 of the Guarantee Agreement, and Section 3.6 of the Security Agreement are true and correct with respect to the New Obligor as if fully set forth herein and originally made as of the date hereof.

More Definitions of New Obligor

New Obligor means any counterparty to a Corporate Event to or by which the obligations of the Company under the Bonds with Stock Acquisition Rights and/or the Stock Acquisition Rights are proposed to be transferred or assumed.

New Obligor collectively means any (i) surviving company in an absorption- type merger or a newly established company in a consolidation-type merger (only in case where the Company is disappeared by such merger), (ii) company in which the rights and obligations are transferred to or assumed by through a corporate split (shinsetsu bunkatsu or kyushu bunkatsu), (iii) company becoming a wholly-owning parent company of another corporation by way of a share exchange (kabushiki-kokan) or share transfer (kabushiki-iten), or (iv) company in which the obligations under the 3rd Bonds are to be transferred to or assumed through other corporate reorganization procedures then provided for under Japanese law.

New Obligor means the counterparty to a Corporate Event which assumes the obligations of the Company under the Bonds with Stock Acquisition Rights and/or the Stock Acquisition Rights.

New Obligor means any person which at any time becomes a party to this Agreement in accordance with Clause 17.3 (New Obligors).

New Obligor means the party of the second part to a Novation Agreement.

New Obligor means the liquidating trust (or such other ----------- surviving entity established pursuant to the Liquidating Plan that is reasonably satisfactory to the Bank) established pursuant to the Liquidating Plan as the assignee of certain of the assets of Agway, Inc.

New Obligor has the meaning set forth in Section 9.10.