Examples of Replacement Guarantors in a sentence
Landlord hereby agrees that, in the event that any Replacement Guarantors become Lease Guarantors in accordance with this Section 3.6, the applicable Replaced Guarantors shall be released from their respective obligations under the existing Lease Guaranty and the existing Environmental Indemnity Agreement, in each case that accrue from and after the date of such release.
No information, exhibit, report or certificate furnished by Initial Guarantor or Replacement Guarantor to Buyer in connection with the Transactions or any Transaction Document contains any material misstatement of fact nor, to Initial Guarantor’s or Replacement Guarantor's Knowledge, omits any fact necessary to make such information, exhibit, report, or certificate not materially misleading when taken as a whole and in light of the circumstances under which they were furnished.
To the extent California law applies, Replacement Guarantor hereby waives all rights and defenses arising out of an election of remedies by Lender even though that election of remedies, such as a nonjudicial foreclosure with respect to security for guaranteed obligations, has destroyed Replacement Guarantor's rights of subrogation and reimbursement against the principal by the operation of Section 580d of the California Code of Civil Procedure or otherwise.
Purchaser shall have the right but not the obligation to offer one or more Replacement Guarantors for Lender’s consideration.
In its initial applications for the Lender Consent, Buyer shall provide such materials and information concerning the financial and other qualifications of Buyer (or its designee or assignee) and if applicable the Replacement Guarantor(s) as is required by the applicable loan documents or as such lender may otherwise reasonably require.
Without limiting the generality of the foregoing, Replacement Guarantor's assumption includes the assumption of all obligations, liabilities, and waivers set forth in the Guaranty.
There are no actions, suits or proceedings at law or at equity, pending or, to Replacement Guarantor's best knowledge, threatened against or affecting Replacement Guarantor or which involve or might involve the validity or enforceability of this Guaranty or which might materially adversely affect the financial condition of Replacement Guarantor or the ability of Replacement Guarantor to perform any of its obligations under this Guaranty.
This Guaranty shall be binding upon Replacement Guarantor, and Replacement Guarantor's estate, heirs, personal representatives, successors and assigns, may not be assigned or delegated by Replacement Guarantor and shall inure to the benefit of Lender and its successors and assigns.
The Borrower, the Parent Guarantor and each of the Replacement Guarantors accept Oslo District Court (No. Oslo tingrett) as venue.