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

Additional Guarantors; Release of Guarantors. Section 5.23 of the Credit Agreement provides that Significant Subsidiaries must become Guarantors, and Subsidiaries which are not Significant Subsidiaries may elect to become Guarantors, by, among other things, executing and delivering to the Administrative Agent a counterpart of this Guaranty. Any Subsidiary which executes and delivers to the Administrative Agent a counterpart of this Guaranty shall be a Guarantor for all purposes hereunder. Under certain circumstances described in the last sentence of Section 5.11 of the Credit Agreement, Subsidiaries which are not Significant Subsidiaries may obtain from the Administrative Agent a written release from this Guaranty pursuant to the provisions of such sentence, 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 3 contracts

Samples: Credit Agreement (Gables Realty Limited Partnership), Credit Agreement (Gables Residential Trust), Credit Agreement (Gables Realty Limited Partnership)

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Additional Guarantors; Release of Guarantors. Section 5.23 6.23 of the Credit Reimbursement Agreement provides that Significant Subsidiaries must become Guarantors, and Subsidiaries which are not Significant Subsidiaries may elect to become Guarantors, by, among other things, executing and delivering to the Administrative Agent a counterpart of this Guaranty. Any Subsidiary which executes and delivers to the Administrative Agent a counterpart of this Guaranty shall be a Guarantor for all purposes hereunder. Under certain circumstances described in the last sentence of Section 5.11 6.11 of the Credit Reimbursement Agreement, Subsidiaries which are not Significant Subsidiaries may obtain from the Administrative Agent a written release from this Guaranty pursuant to the provisions of such sentence, 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: Reimbursement Agreement (Gables Residential Trust), Reimbursement Agreement (Gables Realty Limited Partnership)

Additional Guarantors; Release of Guarantors. Section 5.23 6.23 of the Credit Agreement provides that Significant Subsidiaries must become Guarantors, and Subsidiaries which are not Significant Subsidiaries may elect to become Guarantors, by, among other things, executing and delivering to the Administrative Agent a counterpart of this Guaranty. Any Subsidiary which executes and delivers to the Administrative Agent a counterpart of this Guaranty shall be a Guarantor for all purposes hereunder. Under certain circumstances described in the last sentence of Section 5.11 6.11 of the Credit Agreement, Subsidiaries which are not Significant Subsidiaries may obtain from the Administrative Agent a written release from this Guaranty pursuant to the provisions of such sentence, 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 (Gables Realty Limited Partnership), Credit Agreement (Gables Residential Trust)

Additional Guarantors; Release of Guarantors. Section 5.23 of the Credit Agreement provides that Significant Subsidiaries must become Guarantors, and Subsidiaries which are not Significant Subsidiaries may elect to become Guarantors, by, among other things, executing and delivering to the Administrative Agent a counterpart of this Guaranty. Section 5.24(b) of the Credit Agreement requires that any owner of an Escrowed Mortgage Property must become a Guarantor by, among other things, executing and delivering to the Agent a counterpart of this Guaranty. Any Subsidiary which or owner of an Escrowed Mortgage Propertywhich executes and delivers to the Administrative Agent a counterpart of this Guaranty shall be a Guarantor for all purposes hereunder. 148 109 Under certain circumstances described in the last sentence of Section 5.11 of the Credit Agreement, Subsidiaries which are not Significant Subsidiaries may obtain from the Administrative Agent a written release from this Guaranty pursuant to the provisions of such sentence, 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 (Gables Residential Trust)

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Additional Guarantors; Release of Guarantors. Section 5.23 5.23(d) of the Amended and Restated Credit Agreement provides that Significant Subsidiaries must become Guarantors, and Subsidiaries which are not Significant certain other Subsidiaries may elect to become Guarantors, by, among other things, executing and delivering to the Administrative Agent a counterpart of this Guaranty. Any Subsidiary which executes and delivers to the Administrative Agent a counterpart of or joinder agreement with respect to this Guaranty shall be a Guarantor for all purposes hereunder. Under certain circumstances described in the last sentence of Section 5.11 5.12 of the Amended and Restated Credit Agreement, Subsidiaries which are not Significant Subsidiaries Guarantors may obtain from the Administrative Agent a written release from this Guaranty pursuant to the provisions of such sentence, 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.. 128 134

Appears in 1 contract

Samples: Credit Agreement (Post Apartment Homes Lp)

Additional Guarantors; Release of Guarantors. Section 5.23 5.21 of the Credit Agreement provides that Significant Subsidiaries must become Guarantors, and Domestic Subsidiaries which are not Significant Subsidiaries may elect to acquired or created after the First Amendment Effective Date must become Guarantors, by, among other things, executing and delivering to the Administrative Agent a counterpart of this GuarantyGuaranty and the Contribution Agreement. Any Domestic Subsidiary which executes and delivers to the Administrative Agent a counterpart of this Guaranty and the Contribution Agreement (or a joinder agreement with respect thereto) shall be a Guarantor for all purposes hereunder. Under certain circumstances described in the last sentence paragraph (b) of Section 5.11 5.21 of the Credit Agreement, Subsidiaries a Guarantor which are not Significant Subsidiaries is to be sold may obtain from the Administrative Agent a written release from this Guaranty pursuant to the provisions of such sentence, paragraph and upon obtaining such written release, any such Subsidiary former Guarantor 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 (Guilford Mills Inc)

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