Examples of Security Guarantors in a sentence
No director, officer, employee, incorporator or stockholder of the Company or any Security Guarantor, as such, will have any liability for any obligations of the Company or the Security Guarantors under the Securities, this Indenture, the Security Guarantees, or for any claim based on, in respect of, or by reason of, such obligations or their creation.
Each of the Security Guarantors and the Company will, and the Company will cause each of the Security Guarantors to, ensure at all times that, unless otherwise permitted by this Indenture, each Security Guarantee will remain in full force and effect and shall not be subordinated by written agreement in right of payment to any indebtedness or other obligations of the Security Guarantors, unless required by applicable law.
The Trustee in its individual or any other capacity may become the owner or pledgee of Securities of any series and may otherwise deal with the Company, any Security Guarantors or any of their respective Affiliates with the same rights it would have if it were not Trustee.
Securities and Security Guarantees bearing the manual or facsimile signatures of individuals who were at any time the proper officers of the Company or the Security Guarantors, as the case may be, shall bind the Company and the Security Guarantors, notwithstanding that such individuals or any of them have ceased to hold such offices prior to the authentication and delivery of such Securities and Security Guarantees or did not hold such offices at the date of such Securities or Security Guarantees.
The recitals contained herein and in the Securities and the Security Guarantees, except the Trustee's certificate of authentication, shall be taken as the statements of the Company and the Security Guarantors, as the case may be, and neither the Trustee nor any Authenticating Agent assumes any responsibility for their correctness.
Each Security shall have an executed Security Guarantee from each of the Security Guarantors endorsed thereon substantially in the form of Exhibit B hereto.
All things necessary to make this Indenture a valid agreement of the Company and each of the Security Guarantors, in accordance with its terms, have been done.
Each Security Guarantor that makes a payment or distribution under a Security Guarantee will be entitled, upon payment in full of all Guaranteed Obligations under the Securities, to a contribution from each other Security Guarantor in an amount equal to such other Security Guarantor’s pro rata portion of such payment, based on the respective net assets of all the Security Guarantors at the time of such payment determined in accordance with GAAP.
Each of the Security Guarantors has duly authorized the execution and delivery of this Indenture to provide a Security Guarantee of the Securities and of certain of the obligations of the Company hereunder.
Security Guarantees will be created or added to any series of Securities by the execution of a supplemental indenture, as described in Article IX hereof, by the applicable Security Guarantor(s), the Company and the Trustee.