Substitute Guaranty definition
Substitute Guaranty shall have the meaning set forth in Section 7.7 hereof.
Substitute Guaranty means a counterpart of or joinder to the Subsidiary Guaranty (or such other document as the Administrative Agent shall deem appropriate) executed by a Substitute Guarantor pursuant to the second sentence of Section 6.10(a).
Substitute Guaranty has the meaning set forth in Section 5.7(a).
Examples of Substitute Guaranty in a sentence
If any Guarantor is an individual, the death or legal incapacity of such Guarantor; provided, however, such occurrence shall not be an Event of Default if, within sixty (60) days following such death or legal incapacitation, Borrowers provide a Substitute Guarantor and pays all reasonable third-party expenses incurred by Administrative Agent in connection with such Substitute Guaranty and the review and approval of any proposed Substitute Guarantor (including reasonable attorneys’ fees).
More Definitions of Substitute Guaranty
Substitute Guaranty means an agreement, in substantially the form of this Guaranty, pursuant to which any Person guarantees, in whole or in part, the satisfaction of Tenant’s liabilities under the Lease for the benefit of Landlord. If a Qualified Replacement Guarantor executes an Assumption Agreement or a Substitute Guaranty covering all of Guarantor’s obligations under this Guaranty, then Guarantor shall be released from its obligations and liabilities under this Guaranty. If a Qualified Replacement Guarantor executes an Assumption Agreement under which it partially assumes Guarantor’s obligations under this Guaranty or a Substitute Guaranty partially covering Guarantor’s obligations under this Guaranty, then Guarantor shall be released from its obligations and liabilities under this Guaranty, to the extent, but only to the extent, the same are assumed by such Qualified Replacement Guarantor or covered by such Substitute Guaranty. Any release of Guarantor pursuant to this paragraph shall only be effective upon the delivery of the applicable Assumption Agreement or Substitute Guaranty to Landlord.
Substitute Guaranty means a recourse guaranty agreement, in substantially the form and substance of the Recourse Guaranty Agreement executed and delivered by Guarantor on the Closing Date and otherwise in form and substance reasonably satisfactory to Administrative Agent.
Substitute Guaranty means a substitute guaranty, in Administrative Agent’s then current form guaranteeing obligations that are substantially equivalent to the Guaranties (with such modifications as are necessary to conform to the identity and organization of the Replacement Guarantor), executed by a Replacement Guarantor for the benefit of Administrative Agent.
Substitute Guaranty means an agreement, in substantially the form of this Guaranty, pursuant to which any Person guarantees, in whole or in part, the satisfaction of Tenant’s liabilities under the Lease for the benefit of Landlord.
Substitute Guaranty means a Subsidiary Guaranty (including counterparts thereof or joinders and supplements thereto) executed by a Substitute Guarantor pursuant to the second sentence of Section 6.10(a) (iii) .
Substitute Guaranty is defined in Section 5.7.