Substitute Guarantor means a Person who assumes the Guarantor's obligations hereunder in accordance with the terms of Section 2.7 below and is either (a) a Person who satisfies the Rating Agencies' requirements for a single purpose bankruptcy remote entity who has Provided Collateral or (b) a Person(s) with (i) a tangible net worth determined in accordance with the Accounting Principles not less than Seven Hundred Fifty Million Dollars ($750,000,000) and (ii) unencumbered assets with a fair market value of not less than One Hundred Million Dollars (exclusive of any note, instrument, security or claim issued by, against or in any way dependent on the credit of, an Affiliate of Guarantor).

Substitute Guarantor means a Person who assumes the Guarantor's obligations hereunder in accordance with the terms of SECTION 2.7 below and is either (a) a Person who satisfies the Rating Agencies' requirements for a single purpose bankruptcy remote entity who has Provided Collateral or (b) a Person(s) with (i) a tangible net worth determined in accordance with the Accounting Principles of not less than Seven Hundred Fifty Million Dollars ($750,000,000) and (ii) unencumbered assets with a fair market value of not less than One Hundred Million Dollars (exclusive of any note, instrument, security or claim issued by, against or in any way dependent on the credit of, an Affiliate of Guarantor).

Substitute Guarantor shall have the meaning set forth in Section 5.2.9(h) hereof.

Examples of Substitute Guarantor in a sentence

The Gecko Substitute Guarantor and the Cordish Substitute Guarantor are sometimes hereinafter referred to as a Substitute Guarantor.
Upon the satisfaction of the foregoing conditions and the expiration of all applicable preference or similar periods, HPT shall deliver a release to the Departing Guarantor of its obligations hereunder and the Substitute Guarantor shall be deemed the "Guarantor" hereunder.
Upon the satisfaction of the foregoing conditions and the expiration of all applicable preference or similar periods, HPT shall deliver a release to the Departing Guarantor of its obligations hereunder and the Substitute Guarantor shall be deemed the “Guarantor” hereunder.
Similarly, in the event that the Limited Guarantor is no longer an owner of Tenant and provided that Tenant is not in Default, Tenant shall have the right to replace the Limited Guarantor with a Substitute Guarantor reasonably acceptable to Landlord.
If any Substitute Guarantor has succeeded to the interests of the Guarantor named herein, then the termination of such Substitute Guarantor’s obligations under this Agreement shall be further conditioned upon such Substitute Guarantor satisfying the requirements with respect to a Substitute Guarantor under each of the New Guaranties, including, without limitation, the obligation to Provide Collateral under each of the New Guaranties (if applicable).

More Definitions of Substitute Guarantor

Substitute Guarantor means any person or entity that executes and delivers a guarantee in the form of section 1.

Substitute Guarantor means Capital Product Partners L.P., a limited partnership formed in the Republic of the Xxxxxxxx Islands whose registered office is at Trust Company Complex Xxxxxxxx Xxxx, Xxxxxxxx Xxxxxx, Xxxxxx XX 00000, the Xxxxxxxx Islands;

Substitute Guarantor means a Person that (a) has a net worth of not less than $100,000,000, and cash liquidity of not less than $10,000,000, (b) is organized under the laws of one of the United States, (c) is not subject to sovereign immunity, and (d) meets all other requirements of the Existing Lender under the Loan Documents in connection with the substitution of a guarantor under the Loan Documents.

Substitute Guarantor means a Person with (a) $250,000,000 in net worth and (b) $20,000,000 in liquidity, including for purposes of determination (i) availability under any existing lines of credit and (ii) outstanding capital commitments by “Qualified Institutional Investors” or “Accredited Investors” (as such terms are defined under the Securities Act) pursuant to subscription or other similar agreements or arrangements.

Substitute Guarantor shall have the meaning assigned to such term in Section 3.5(b) of this Agreement.

Substitute Guarantor means Ares Commercial Real Estate Corporation, a Maryland corporation, or such other real estate investment vehicle that is substituted as the Guarantor under the Guaranty.

Substitute Guarantor means a Person with minimum assets of $125,000,000, among other conditions of the lender under the LLSF Loan Documents, acceptable to such lender in its reasonable discretion, which Person shall assume all of the liabilities of the Partnership under the LLSF Loan Documents (subject to any limitations applicable thereto) first accruing after the date of such assumption.