Common use of Additional Guarantors; Release of Guarantors Clause in Contracts

Additional Guarantors; Release of Guarantors. Section 7.12 of the Credit Agreement provides that certain Subsidiaries must become Guarantors by, among other things, executing and delivering to Agent a Joinder Agreement. Any Subsidiary which executes and delivers to the Agent a Joinder Agreement shall be a Guarantor for all purposes hereunder. Under certain circumstances described in Section 7.12(b) of the Credit Agreement, certain Subsidiaries may obtain from the Agent a written release from this Guaranty pursuant to the provisions of such section, and upon obtaining such written release, any such Subsidiary shall no longer be a Guarantor hereunder. Each other Guarantor consents and agrees to any such release and agrees that no such release shall affect its obligations hereunder.

Appears in 8 contracts

Samples: Term Loan Agreement (Wells Real Estate Investment Trust Ii Inc), Term Loan Agreement (Colonial Properties Trust), Credit Agreement (Wells Real Estate Investment Trust Ii Inc)

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Additional Guarantors; Release of Guarantors. Section 7.12 5.25 of the Credit Agreement provides that all new Significant Subsidiaries and certain other Subsidiaries must become Guarantors Guarantors, by, among other things, executing and delivering to the Agent a Joinder Agreementcounterpart of this Guaranty. Any Subsidiary which executes and delivers to the Agent a Joinder Agreement counterpart of this Guaranty shall be a Guarantor for all purposes hereunder. Under certain circumstances described in the last sentence of Section 7.12(b) 5.05 of the Credit Agreement, certain Subsidiaries Guarantors may obtain from the Agent a written release from this Guaranty pursuant to the provisions of such sectionsentence, and upon obtaining such written release, any such Subsidiary shall no longer be a Guarantor hereunder. Each other Guarantor consents and agrees to any such release and agrees that no such release shall affect its obligations hereunder.

Appears in 2 contracts

Samples: Credit Agreement (JDN Realty Corp), Credit Agreement (JDN Realty Corp)

Additional Guarantors; Release of Guarantors. Section 7.12 of the Credit Agreement provides that certain Subsidiaries must become Guarantors by, among other things, executing and delivering to Administrative Agent a Joinder Agreement. Any Subsidiary which executes and delivers to the Administrative Agent a Joinder Agreement shall be a Guarantor for all purposes hereunder. Under certain circumstances described in Section 7.12(b) of the Credit Agreement, certain Subsidiaries may obtain from the Administrative Agent a written release from this Guaranty pursuant to the provisions of such section, and upon obtaining such written release, any such Subsidiary shall no longer be a Guarantor hereunder. Each other Guarantor consents and agrees to any such release and agrees that no such release shall affect its obligations hereunder.

Appears in 2 contracts

Samples: Credit Agreement (Colonial Realty Limited Partnership), Form of Guaranty (Colonial Realty Limited Partnership)

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Additional Guarantors; Release of Guarantors. Section 7.12 5.28 of the Credit Agreement provides that certain all new Subsidiaries and must become Guarantors Guarantors, by, among other things, executing and delivering to the Agent a Joinder Agreementcounterpart of this Guaranty. Any Subsidiary which executes and delivers to the Agent a Joinder Agreement counterpart of this Guaranty shall be a Guarantor for all purposes hereunder. Under certain circumstances described in the last sentence of Section 7.12(b) 5.05 of the Credit Agreement, certain Subsidiaries Guarantors may obtain from the Agent a written release from this Guaranty pursuant to the provisions of such sectionsentence, and upon obtaining such written release, any such Subsidiary shall no longer be a Guarantor hereunder. Each other Guarantor consents and agrees to any such release and agrees that no such release shall affect its obligations hereunder.

Appears in 1 contract

Samples: Credit Agreement (Amli Residential Properties Trust)

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