No Guarantees or indemnities Sample Clauses
The 'No Guarantees or indemnities' clause establishes that neither party is providing any form of guarantee or indemnity to the other under the agreement. In practice, this means that the parties are not promising to cover each other's losses or to ensure the performance of certain obligations beyond what is expressly stated in the contract. For example, if one party fails to meet its obligations, the other party cannot claim compensation unless specifically provided for elsewhere in the agreement. This clause serves to limit liability and clarify that each party bears its own risks, preventing unexpected or implied financial responsibilities.
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No Guarantees or indemnities. (a) Except as permitted under paragraph (b) below, no Obligor shall (and the Parent shall ensure that no member of the Group will) incur or allow to remain outstanding any guarantee in respect of any obligation of any person.
(b) Paragraph (a) does not apply to a guarantee which is:
(i) a Permitted Guarantee; or
(ii) a Permitted Transaction.
No Guarantees or indemnities. (a) Except as permitted under paragraph (b) below, no Obligor (other than the Company) shall (and shall ensure that no other member of the Nigeria Group will) incur or allow to remain outstanding any guarantee in respect of any obligation of any person.
(b) Paragraph (a) above does not apply to a guarantee which is:
(i) a Permitted Guarantee; or
(ii) a Permitted Transaction.
No Guarantees or indemnities. The Borrower shall not (and shall procure that no other Security Party (other than the Guarantor) will) incur or allow to remain outstanding any guarantee in respect of any obligation of any person.
No Guarantees or indemnities. (a) Except as permitted under paragraph (b) below, no Relevant Obligor shall (and the Company shall ensure that no member of the Group will) incur or allow to remain outstanding any guarantee in respect of any obligation of any person.
(b) Paragraph (a) does not apply to a guarantee which is:
(i) a Permitted Guarantee; or
(ii) a Permitted Transaction.
No Guarantees or indemnities. No Borrower shall incur or allow to remain outstanding any guarantee in respect of any obligation of any person.
No Guarantees or indemnities. (a) Except as permitted under paragraph (b) below, Borrower shall not (and shall ensure that no other member of the Group will) incur or allow to remain outstanding any guarantee or guarantees in respect of any obligation of any person where the maximum aggregate contingent liability of the Group under all such guarantees exceeds $5,000,000 at any time.
(b) Paragraph (a) does not apply to a guarantee which is:
(i) a Permitted Guarantee; or
(ii) a Permitted Transaction.
No Guarantees or indemnities. (a) Except as permitted under paragraph (b) below, no Obligor shall (and Parent shall ensure that no member of the Group will) incur, or allow to remain outstanding, any guarantee in respect of any obligation of any person.
(b) Subject to paragraph (c) below, paragraph (a) above does not apply to a guarantee which is a Permitted Guarantee.
(c) Parent shall not permit any member of the Group that is not an Obligor to guarantee any obligations under the French Revolving Facility Agreement or the U.S. Term Loan Credit Agreement unless (i) such member of the Group becomes an Obligor substantially concurrently with the incurrence of such guarantees, (ii) such member of the Group gives a guarantee in favor of the Secured Parties; and (iii) such guarantee is in an amount which is at least in the same amount (having taken into account all applicable guarantee limitations in respect thereof and that the amount guaranteed will be pro rata to the principal amount of all such obligations so guaranteed) as the relevant guarantee(s) of obligations under the French Revolving Facility Agreement or the U.S. Term Loan Credit Agreement.
(d) Section 6.11(c)(iii) shall not apply (i) if Parent provides to the Administrative Agent, prior to the entering into such guarantees, a certificate signed by its directeur général délégué confirming that the member of the Group entering into such guarantees is doing so (A) because it is contractually required to do so pursuant to a contract permitted under this Agreement or (B) for the sole purposes of becoming an “Obligor” and benefiting from the “Obligor” provisions in this Agreement, the French Revolving Facility Agreement or the U.S. Term Loan Credit Agreement or (ii) to the extent that the Lenders and the lenders under the French Revolving Facility Agreement and under the U.S. Term Loan Credit Agreement (or, in each case, their duly authorized representatives) are party to, or otherwise bound by, an enforceable agreement whereby the proceeds of any guarantee granted by members of the Group in favor of the Lenders and the lenders under the French Revolving Facility Agreement and under the U.S. Term Loan Credit Agreement are applied to the Obligations and the obligations under the French Revolving Facility Agreement and under the U.S. Term Loan Credit Agreement in the same way as the proceeds of Collateral under the Intercreditor Agreement are applied.
No Guarantees or indemnities. 22.17.1 Except as permitted under Clause 22.17.2, no Obligor shall incur or allow to remain outstanding any guarantee in respect of any obligation of any person.
22.17.2 Clause 22.17.1 does not apply to a guarantee which is a Permitted Guarantee.
No Guarantees or indemnities. (a) Except as permitted under paragraph (b) below, the Borrower shall not (and the Borrower shall ensure that no Group Member will) incur or allow to remain outstanding any guarantee in respect of any obligation of any person.
(b) Paragraph (a) does not apply to a guarantee which is:
(i) the endorsement of negotiable instruments in the ordinary course of trade;
(ii) any performance or similar bond guaranteeing performance by a Group Member under any contract entered into in the ordinary course of trade; or
(iii) granted under the Finance Documents.
No Guarantees or indemnities. Except as permitted under paragraph (b) below, no Obligor shall (and the Borrower shall ensure that no other Group Company will) incur or allow to remain outstanding any guarantee in respect of any obligation of any person.