Permitted Guaranty means (a) any Guaranty that (i) is an endorsement of a check for collection in the ordinary course of business, (ii) constitutes Indebtedness permitted under Section 7.03, or (iii) is an Insurance Subsidiary Guaranty or (b) any reinsurance, insurance or Swap Contract transaction, or other transaction with similar economic characteristics to any of such transactions.
Permitted Guaranty means any guarantee of Permitted Junior Securities (which Permitted Junior Securities constitute debt securities issued by the Company in accordance with the definition thereof contained herein), which guarantee is issued by a Guarantor or any successor corporation pursuant to a plan of reorganization or readjustment of such Guarantor or any successor corporation pursuant to a plan of reorganization or readjustment of such Guarantor that is subordinated to the payment of all then outstanding Guarantor Senior Debt at least to the same extent that the Guarantee of such Guarantor is subordinated to the payment of all Guarantor Senior Debt on the date of the original effectiveness of this Indenture, so long as (i) the effect of the use of this defined term in the subordination provisions contained in Article XIV is not to cause the Securities (or any Guarantee thereof) to be treated as part of (a) the same class of claims as any Senior Debt or Guarantor Senior Debt or (b) any class of claims pari passu with, or senior to, the Senior Debt or Guarantor Senior Debt for any payment or distribution in any case or proceeding or similar event relating to the liquidation, insolvency, bankruptcy, dissolution, winding up or reorganization of the Company or any Guarantor and (ii) to the extent any Senior Debt or Guarantor Senior Debt outstanding on the date of consummation of any such plan of reorganization or readjustment is not paid in full in cash on such date, either (a) the holders of such Senior Debt or Guarantor Senior Debt not so paid in full in cash have consented to the terms of such plan of reorganization or readjustment or (b) such holders receive securities which constitute Senior Debt and Guarantor Senior Debt and which have been determined by the relevant court to constitute satisfaction in full in money or money's worth of any Senior Debt (and any related Guarantor Senior Debt) not paid in full in cash.
Permitted Guaranty means any Guaranty that is (a) an endorsement of a check for collection in the ordinary course of business or (b) a Guaranty of and only of the obligations of the Loan Parties under the Loan Documents.
Examples of Permitted Guaranty in a sentence
Each Private Loan Note, with the Guaranty attached, shall be fully and freely transferable to any Permitted Guaranty Holder.
No assignment by the Lend- er or by any Permitted Guaranty Holder shall be effective for purposes of this Guar- anty unless and until so recorded by the Lender.
Permitted Guaranty Holders shall be sev- erally bound by, and shall be severally enti- tled to, the rights and obligations of the Lender under the Note, the Agreement, and this Guaranty.
Borrower shall not create, incur or assume, or permit any of its Subsidiaries to create, incur or assume, any Guaranty Obligations, other than Permitted Guaranty Obligations.
This Guaranty shall inure to the benefit of and shall be enforceable by the Lender and any Permitted Guaranty Holder (as hereinafter defined).
More Definitions of Permitted Guaranty
Permitted Guaranty means a Guaranty that is (i) an endorsement of a negotiable instrument for collection in the ordinary course of business, (ii) subject to the limitations contained in Section 5.11, a Guaranty of any Debt of any Guarantor, (iii) a Guaranty by the Borrower of Operating Leases of any Guarantor reasonably required in its ordinary operations, (iv) a Guaranty of the Debt of Go-Gro Industries Limited, a Hong Kong corporation, for loans not in excess of Four Million Four Hundred Thousand Dollars ($4,400,000.00), to fund its working capital needs, (v) a Guaranty of the Debt of Go-Gro Industries Limited, or the debt of a Chinese cooperative joint venture controlled by Go-Gro Industries Limited, for loans not in excess of $1,200,000.00 to fund equipment purchases, or (vi) a Guaranty of the Debt of Foreign Subsidiaries (other than Catalina Canada and Go-Gro Industries Limited) provided that such Debt of said Foreign Subsidiaries shall not exceed at any time the total amount of $1,000,000 and further provided that Borrower shall notify the Agent in writing prior to guaranteeing any Debt of said Foreign Subsidiaries."
Permitted Guaranty means any Guaranty:
Permitted Guaranty means, with respect to any Person that is the guarantor, the collective reference to a guaranty of indebtedness or indemnity that provides for personal recourse to such Person for fraud, misrepresentation, misapplication of cash, waste, environmental claims and liabilities, prohibited transfers, violations of single purpose entity covenants, and other circumstances customarily excluded by institutional lenders from exculpation provisions or included in a separate guaranty or indemnification agreement in non-recourse financing of real property.
Permitted Guaranty as defined in Section ll.l(a) of the Credit Agreement is hereby deleted and, in lieu thereof, there is substituted the following:
Permitted Guaranty means any Guaranty that (a) is an endorsement of a check for collection in the ordinary course of business, (b) is a Guaranty of and only of the obligations of the Borrower under the Loan Documents, (c) constitutes Indebtedness for purposes of calculating the covenant in Section 4.21, (d) is a Trust Guaranty, (e) is an Insurance Subsidiary Guaranty or (f) is a Guaranty, not otherwise specifically covered in this definition, of Liabilities of a Subsidiary in an aggregate amount at any time outstanding not exceeding $25,000,000.
Permitted Guaranty means any Guaranty that (a) is an endorsement of a check for collection in the ordinary course of business, (b) is a Guaranty of
Permitted Guaranty means (i) any Guaranty to which Section 4.09 is by its express terms inapplicable by virtue of clauses (d) or (e) thereof and (ii) any Guaranty of obligations of the Borrower or any Restricted Subsidiary so long as such obligations do not constitute Indebtedness and have been incurred in the ordinary course of business.