Parent Guarantee definition
Examples of Parent Guarantee in a sentence
The Parent Guarantor and by its acceptance hereof, the Trustee, for itself and on behalf of each Holder, confirms that it is the intention of all such parties that the Parent Guarantee by the Parent Guarantor not constitute a fraudulent transfer or conveyance for purposes of any Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar federal or state law or the provisions of its local law relating to fraudulent transfer or conveyance.
The Parent Guarantor hereby agrees that the Parent Guarantee provided hereunder shall continue to be effective or be reinstated, as the case may be, if at any time, payment, or any part thereof, of any obligations or interest thereon is rescinded or must otherwise be restored by a Holder to the Company upon the bankruptcy or insolvency of the Company or any other Note Guarantor.
The Amendments to the Existing Indenture set forth in Sections 2 and 3 hereof will not become operative and the Parent Guarantee will not be issued until promptly after the consummation of the Acquisition (the “Settlement Date”).
The guarantee contemplated hereby is the “Parent Guarantee.” The Parent Guarantee will not be issued until the Settlement Date and from such date the Parent Guarantee will remain in full force and effect notwithstanding any lack of endorsement on each Security of a notation of such Parent Guarantee.
The Parent Guarantor acknowledges that this Parent Guarantee is a guarantee of payment and not of collection.