Permitted Guarantee Obligations definition

Permitted Guarantee Obligations means (i) Guarantee Obligations of Company or any of its Subsidiaries of obligations of any Person under leases, supply contracts and other contracts or warranties and indemnities, in each case, not constituting Indebtedness of such Person, which have been or are undertaken or made in the ordinary course of business by Company or any of its Subsidiaries (including, without limitation, guarantees of leases and supply contracts entered into in the ordinary course of business), (ii) Guarantee Obligations of any Credit Party with respect to Indebtedness permitted under Section 8.2 (other than clauses (b), (g) and (v) of such Section) of any other Credit Party, provided that to the extent that such Indebtedness is subordinated to the Obligations, such Guarantee Obligations shall also be subordinated to the Obligations on similar subordination terms or otherwise on terms reasonably acceptable to Administrative Agent, (iii) Guarantee Obligations of any Subsidiary that is not a Credit Party with respect to Indebtedness permitted under Section 8.2 of any Subsidiary that is not a Credit Party, (iv) Guarantee Obligations with respect to surety, appeal, performance bonds and similar bonds or statutory obligations incurred by Company or any of its Subsidiaries in the ordinary course of business, (v) Guarantee Obligations of Company and any of its Subsidiaries with respect to Indebtedness permitted under Section 8.2(v), provided that in each case, such Guarantee Obligations shall rank no higher than pari passu in right of payment with the Obligations, and (vi) additional Guarantee Obligations which (other than Guarantee Obligations of Indebtedness permitted under Section 8.2(b)) do not exceed the Dollar Equivalent of $250,000,000 in the aggregate at any time.

Permitted Guarantee Obligations means (i) a Guaranty and (iii) Guarantee Obligations of the Borrower and its Subsidiaries relating to Indebtedness of the Borrower or a Subsidiary otherwise permitted under Section 8.1.

Permitted Guarantee Obligations means (a) mortgage, repurchase and warehouse facilities whereby Sellers are jointly and severally liable thereunder; (b) mortgage repurchase and warehouse facilities whereby FIC guarantees the obligations of FMC thereunder; and (c) the obligations of either Seller pursuant to surety bonds required in connection with state licensing and branch offices.

Examples of Permitted Guarantee Obligations in a sentence

• Contract, create, incur, assume or permit to exist any Guarantee Obligations, except Permitted Guarantee Obligations.

• The Borrower will not, nor will it permit any Subsidiary to, contract, create, incur, assume or permit to exist any Guarantee Obligations, except Permitted Guarantee Obligations.

• Other than with respect to the Permitted Guarantee Obligations, no Borrower shall, nor shall it permit any other Loan Party to assume, guarantee or endorse, or otherwise become liable in connection with, the obligations of any Person, except by endorsement of instruments for deposit or collection or similar transactions in the ordinary course of business.

More Definitions of Permitted Guarantee Obligations

Permitted Guarantee Obligations means (i) Guarantee Obligations of the Borrower and its Subsidiaries relating to Indebtedness of the Borrower or a Subsidiary otherwise permitted under Section 7.1, (ii) Guarantee Obligations of the Borrower and its Subsidiaries relating to obligations of their customers under third-party wholesale/retail finance arrangements, consistent with past practices of the Borrower, and (iii) Guarantee Obligations of the Borrower and its Subsidiaries relating to performance bonds issued for their customers to facilitate sales of products of the Borrower and its Subsidiaries, consistent with past practices of the Borrower; provided, however, that in no event shall the aggregate amount of all Permitted Guarantee Obligations exceed $500,000 at any one time outstanding.

Permitted Guarantee Obligations means (a) Guarantee Obligations of the Company or any of its Subsidiaries of obligations of any Person under leases, supply contracts and other contracts or warranties and indemnities, in each case, not constituting Indebtedness of such Person, which have been or are undertaken or made in the ordinary course of business by Company or any of its Subsidiaries (including, without limitation, guarantees of leases and supply contracts entered into in the ordinary course of business);

Permitted Guarantee Obligations means (i) Guarantee Obligations of Company or any of its Subsidiaries of obligations of any Person under leases, supply contracts and other

Permitted Guarantee Obligations means any obligations under guarantees of obligations of third parties outside Equinix Group that are existing as of the date of this Agreement and notified in writing to the Lender prior to the First Loan Drawdown Date.

Permitted Guarantee Obligations means (i) Guarantee Obligations of any Credit Party with respect to Indebtedness permitted under Section 8.2 (other than clauses (b)(i), and (g) (unless such Person becomes a Credit Party as a result of such Permitted Acquisition) and (v) of such Section) of any other Credit Party; provided that to the extent that such Indebtedness is subordinated to the Obligations, such Guarantee Obligations shall also be subordinated to the Obligations on similar subordination terms or otherwise on terms reasonably acceptable to the Administrative Agent, (ii) Guarantee Obligations of any Subsidiary that is not a Credit Party with respect to Indebtedness permitted under Section 8.2 of Company or any Subsidiary (except that a Subsidiary that is not a Credit Party may not, by virtue of this clause (ii), guarantee Indebtedness that such Subsidiary could not otherwise incur under Section 8.2), (iii) Guarantee Obligations with respect to surety, appeal, performance bonds and similar bonds or statutory obligations incurred by Company or any of its Subsidiaries in the ordinary course of business, (iv) Guarantee Obligations of Company and any of its Subsidiaries with respect to Indebtedness permitted under Sections 8.2(b)(ii), and (g) (solely in the case of Indebtedness of the type that would be permitted under Section 8.2(b)(ii)) and (v); provided that in each case, such Guarantee Obligations shall rank no higher than pari passu in right of payment with the Obligations, (v) Guarantee Obligations incurred in the ordinary course of business or consistent with industry practice in respect of obligations of Company or any Subsidiary to vendors, suppliers, customers, franchisees, lessors, licensees, sub- licensees and distribution partners, and (vi) additional Guarantee Obligations which (other than Guarantee Obligations of Indebtedness permitted under Section 8.2(b)(i)) do not exceed the Dollar Equivalent of $350,000,000 in the aggregate at any time. the greater of (x) the Dollar Equivalent of $500,000,000 and (y) 3.0% of the Company’s Consolidated Assets (measured as of the most recently completed fiscal quarter of Company for which financial statements have been delivered to the Administrative Agent pursuant to Section 7.1).

Permitted Guarantee Obligations means (i) Guarantee Obligations of Company or any of its Subsidiaries of obligations of any Person under leases, supply contracts and other contracts or warranties and indemnities, in each case, not constituting Indebtedness of such Person, which have been or are undertaken or made in the ordinary course of business by Company or any of its Subsidiaries (including, without limitation, guarantees of leases and supply contracts entered into in the ordinary course of business), (ii) Guarantee Obligations of any Credit Party with respect to Indebtedness permitted under Section 8.2 (other than clauses (b), (f), (g) and (n) of such Section) of any other Credit Party, provided that, to the extent that such Indebtedness is subordinated to the Obligations, such Guarantee Obligations shall be subordinated to the Obligations on terms reasonably acceptable to Administrative Agent, (iii) Guarantee Obligations of any Subsidiary that is not a Credit Party with respect to Indebtedness permitted under Section 8.2 of any other Subsidiary that is not a Credit Party, (iv) Guarantee Obligations with respect to surety, appeal and performance bonds obtained by Company or any of its Subsidiaries in the ordinary course of business and (v) additional Guarantee Obligations which (other than Guarantee Obligations of Indebtedness permitted under Section 8.2(b)) do not exceed the Dollar Equivalent of $50,000,000 in the aggregate at any time.

Permitted Guarantee Obligations means (a) recourse obligations resulting from endorsement of negotiable instruments for collection in the ordinary course of business and consistent with past practice, (b) Guarantee Obligations outstanding on the date hereof and listed on Schedule 6.5(d), (c) Guarantee Obligations of Company or any of its Subsidiaries of Obligations of any Person under leases and other contracts or warranties and indemnities, in each case, not constituting Indebtedness of such Person, which have been or are undertaken or made in the ordinary course of business by Company or any of its Subsidiaries, (d) Guarantee Obligations of Operating Leases and other obligations of Subsidiaries which do not constitute Indebtedness, (e) unsecured Guarantee Obligations with respect to Indebtedness permitted under Section 8.2, provided that, to the extent that such Indebtedness is subordinated to the Obligations, such Guarantee Obligations shall be subordinated to the Obligations on terms reasonably acceptable to the Administrative Agent, (f) the undertaking in the ordinary course of business of Company or any Subsidiary to maintain working capital or equity capital of a Subsidiary or otherwise maintain the net worth or solvency of a Subsidiary to the extent required to maintain qualification and good standing, and (g) additional Guarantee Obligations which do not exceed the Dollar Equivalent of $1,000,000 in the aggregate at any time.