Shareholder Guarantors definition
Examples of Shareholder Guarantors in a sentence
Section 6.01(s) is amended by adding the words "or, in the case of the Baron Capital Letter of Credit, as the result of a draw thereunder pursuant to Section 1(e) of the Baron Capital Guaranty" immediately after the words "the relevant Shareholder Guarantor's obligations thereunder".
Pending consummation of any such assignment (whether to the Shareholder Guarantors or to a third party), the Lenders shall not be prohibited in any respect (other than as set forth in Section 2 above) from taking action in respect of the Obligations, including without limitation exercising rights or remedies upon the occurrence of an Event of Default.
The Shareholder Guarantors hereby agree that the Lenders shall have the right at any time to “put” an amount of the Obligations under the Term B Loan up to the amount of funds in the Cash Collateral Account to the Shareholder Guarantors upon five (5) Business Day’s prior written notice.
If the Shareholder Guarantors do not timely elect to purchase the Obligations (or the part thereof proposed to be sold), then the Lenders may assign the Obligations (or the part thereof proposed to be sold) to any other Eligible Assignee at a price not less than 90% of the price proposed to the Shareholder Guarantors at any time during the 90-day period following the delivery of such proposal to the Shareholder Guarantors.
Any interest, dividends or proceeds earned on such amounts will be retained in the Cash Collateral Account as additional security pledged to the Administrative Agent pursuant to Section 2 or applied to the obligations under the Loan Documents in accordance with Section 6 or released to the Shareholder Guarantors in accordance with Section 8.