Revolving Guarantee definition

Revolving Guarantee shall have the meaning assigned to such term in the recitals hereto.
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Revolving Guarantee means that certain Revolving guarantee, dated February 13, 2008, among Holdings, Borrower (as successor by merger to CHILL ACQUISITION, INC.), Mortgagor and the other guarantors referred to therein, and Mortgagee as collateral agent for the Secured Parties, as the same may hereafter be amended, amended and restated, supplemented or otherwise modified from time to time. The obligations of the Lenders to make Revolving Credit Loans and the Letter of Credit issuers to issue the Letters of Credit are conditioned upon, among other things, the execution and delivery by Mortgagor of this Mortgage in the form hereof to secure the Obligations (as defined below). Pursuant to the requirements of the Revolving Credit Agreement, Mortgagor is granting this Mortgage to create a lien on and a security interest in the Mortgaged Property (as hereinafter defined) to secure the performance and payment by Mortgagor of the Obligations (as defined in the [Revolving Credit Agreement / Revolving Security Agreement]6). Pursuant to the Revolving Credit Agreement, the amount of Mortgagor’s indebtedness thereunder may increase and decrease from time to time as the Secured Parties advance, Mortgagor repays, and the Secured Parties may make Incremental Facilities available, all as more fully described in the Revolving Credit Agreement. For purposes of this Mortgage, so long as the balance of the Obligations equals or exceeds $[ ] (the “Secured Amount”), the amount of the Obligations secured by this Mortgage shall at all times equal only the Secured Amount. The Secured Amount represents only a portion of the first sums advanced by the Secured Parties in respect of the Obligations. The Secured Amount shall be reduced only by the last and final sums that Borrower repays with respect to the Obligations and shall not be reduced by any intervening repayments of the Obligations. So long as the balance of the Obligations exceeds the Secured Amount, any payments and repayments of the Obligations shall not be deemed to be applied against, or to reduce, the portion of the Obligations secured by this Mortgage. Such payments shall instead be deemed to reduce only such portions of the Obligations as are secured by other collateral.
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Examples of Revolving Guarantee in a sentence

  • The request for Guarantee Instrument issuance or amendment under a Revolving Guarantee Facility can be provided to the Bank in writing, by e-mail or by facsimile, by the persons designated to represent the Borrower under the Financing Documents.

  • The parties of this Agreement agree that, in case of any conflict between the provisions contained in the Intercreditor Agreement, the Credit Agreement, the Revolving Guarantee or the Notes Documentation and those contained herein, the former shall prevail.

  • If the Non-Revolving GuaranteeFacility or Revolving Guarantee Facilitiys fully secured with a collateral deposit,the latter shall be opened on the execution date of the Credit Facility Agreement,under the conditions provided in such agreement.

  • By: Name: Title: By: Name: Title: ANNEX 2 TO CANADIAN REVOLVING GUARANTEE AND SECURITY AGREEMENT FORM OF JOINDER AGREEMENT This JOINDER AGREEMENT (this "Joinder Agreement"), dated as of ______________, 20__, is delivered pursuant to Section 8.6 of the Canadian Revolving Guarantee and Security Agreement, dated as of March 14, 2017, by REAL ALLOY CANADA LTD.