Subsidiary Obligors definition
Examples of Subsidiary Obligors in a sentence
Subject to the last sentence of Section 7.12(a), on or at any time after the Investment Grade Rating Date, upon the Agent’s receipt of a certificate from the chief financial officer, chief accounting officer or treasurer of the Parent certifying that no Default or Event of Default exists, the Agent shall release all Guarantors that are Material Subsidiaries or Other Subsidiary Guarantors (in each case, other than Subsidiary Obligors) from the Guaranty pursuant to a Guarantor Release Letter.
The Company and the Subsidiary Obligors shall also, during that Suspension Period, remain obligated to comply with Section 5.01 (other than clause (e) of the first and third paragraphs thereunder).
As long as a Default shall have occurred and is continuing, the order of priority set forth in clauses (D) through (H) of this Section 11.3 may at any time and from ----------- --- ------------ time to time be changed by the Required Lenders without necessity of notice to or consent of or approval by the Borrowers, the Subsidiary Obligors, or any other Person.
Other than the Lenders, the Agent, the Distribution Agent and their respective successors and assigns, no Person, including, without limitation, the Additional Subsidiary Obligors and the Obligors (except to the extent explicitly set forth on the Obligors’ signature page hereto with respect to an amendment to Section 4.7 hereof), shall have any rights under this Agreement.
The Company and the Subsidiary Obligors shall also, during that Suspension Period, remain obligated to comply with Section 5.01 (other than clause (d) of the first and third paragraphs thereunder).