Performance Guarantor definition
Examples of Performance Guarantor in a sentence
Each Seller further agrees that, to the extent such waiver of its rights of subrogation is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation shall be junior and subordinate to any rights the Administrative Agent or any Purchaser may have against any Obligor, any Originator, any Servicer, the Performance Guarantor or any other Person in respect of the Guaranteed Obligations.
The Servicers have furnished to the Administrative Agent the consolidated balance sheet and statements of income, stockholders equity and cash flows of the Performance Guarantor as of and for the fiscal year ended December 31, 2023, reported on by its independent public accountants.
Since December 31, 2023, there has been no change in the business, property, operation or condition of the Performance Guarantor and its Subsidiaries, taken as a whole, which could reasonably be expected to have a Material Adverse Effect.
The Trust has maintained an arm’s-length relationship with each Originator, the Performance Guarantor, each Servicer and each of their Affiliates.
Promptly notify the Administrative Agent and each Group Agent of any change in (i) the external accountants of any Seller, any Servicer, the Performance Guarantor or any Originator or (ii) any material accounting policy of any Seller or any Originator (it being understood that any change to the manner in which any Seller or any Originator accounts for the Pool Receivables or the transactions contemplated under the Transaction Documents shall be deemed “material” for such purpose).