Parent Guaranty definition
Examples of Parent Guaranty in a sentence
The parties hereto acknowledge that pursuant to the Existing Credit Agreement, the Parent Guaranty Agreement, dated as of February 17, 2017, between WH Group and the Administrative Agent was terminated and is of no further force and effect and WH Group was released from its obligations thereunder and under any other Loan Document.
This Parent Guaranty is an irrevocable guaranty of performance and shall continue in effect notwithstanding any extension or modification of the terms of this Agreement, any assumption of any such guaranteed obligations by any other party or any other act or event that might otherwise operate as a legal or equitable discharge of Guarantor; provided, the total liability of the Guarantor shall not exceed the liability of Amneal under this Agreement.
It is the intention of each of the parties hereto that the Existing Parent Guaranty be amended and restated in its entirety pursuant to this Guaranty.
The Parent hereby waives all suretyship defenses and protest, notice of protest, demand for performance, diligence, notice of any other action at any time taken or omitted by the Buyer and, generally, all demands and notices of every kind in connection with this Parent Guaranty, and the Seller’s and its Affiliates’ obligations in this Agreement and any related documents hereby guaranteed, and which the Parent may otherwise assert against the Buyer.
Nothing in this Guaranty shall be construed as a release or other discharge of the Guarantors from its obligations and liabilities under the Existing Parent Guaranty.