Common use of Benefit to the Guarantors Clause in Contracts

Benefit to the Guarantors. As of the Closing Date, the Borrower is a member of an affiliated group of companies that includes each Guarantor, and the Borrower and the Guarantors are engaged in related businesses permitted pursuant to Section 5.3 of the Credit Agreement. Each Guarantor is a Subsidiary of the Borrower, and the guaranty and surety obligations of each Guarantor pursuant to this Agreement reasonably may be expected to benefit, directly or indirectly, such Guarantor; and each Guarantor has determined that this Agreement is necessary and convenient to the conduct and promotion of the business of such Guarantor and the Borrower.

Appears in 2 contracts

Samples: Guaranty and Security Agreement, Guaranty and Security Agreement (BioScrip, Inc.)

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Benefit to the Guarantors. As of the Closing Date, the Borrower is a member of an affiliated group of companies that includes each Guarantor, and the Borrower and the Guarantors are engaged in related businesses permitted pursuant to Section 5.3 of the Credit Agreement. Each Guarantor is a Subsidiary of the Borrower, and the guaranty and surety obligations of each Guarantor pursuant to this Agreement reasonably may be expected to benefit, directly or indirectly, such Guarantor; and each Guarantor has determined that this Agreement is necessary and convenient to the conduct conduct, promotion and promotion attainment of the business of such Guarantor and the Borrower.

Appears in 2 contracts

Samples: Guaranty and Security Agreement (Amneal Pharmaceuticals, Inc.), Guaranty and Security Agreement (Apollo Medical Holdings, Inc.)

Benefit to the Guarantors. As of the Closing Date, the Borrower is a member of an affiliated group of companies that includes each Guarantor, and the Borrower and the Guarantors are engaged in related businesses permitted pursuant to Section 5.3 7.3(b) of the Credit Agreement. Each Guarantor is a Subsidiary of the Borrower, and the guaranty and surety obligations of each Guarantor pursuant to this Agreement reasonably may be expected to benefit, directly or indirectly, such Guarantor; and each Guarantor has determined that this Agreement is necessary and convenient to the conduct conduct, promotion and promotion attainment of the business of such Guarantor and the Borrower.

Appears in 2 contracts

Samples: Assumption Agreement (Skyward Specialty Insurance Group, Inc.), Credit Agreement (ProSight Global, Inc.)

Benefit to the Guarantors. As of the Closing Date, the Borrower is a member Borrowers are members of an affiliated group of companies that includes each Guarantor, and the Borrower Borrowers and the Guarantors are engaged in related businesses permitted pursuant to Section 5.3 of the Credit Agreement. Each Guarantor is a Subsidiary of the BorrowerBorrowers, and the guaranty and surety obligations of each Guarantor pursuant to this Agreement reasonably may be expected to benefit, directly or indirectly, such Guarantor; and each Guarantor has determined that this Agreement is necessary and convenient to the conduct conduct, promotion and promotion attainment of the business of such Guarantor and the BorrowerBorrowers.

Appears in 1 contract

Samples: Guaranty and Security Agreement (Dakota Plains Holdings, Inc.)

Benefit to the Guarantors. As of the Closing Date, the Borrower is a member of an affiliated group of companies that includes each Guarantor, and the Borrower and the Guarantors are engaged in related businesses permitted pursuant to Section 5.3 of the Credit Agreementbusinesses. Each Guarantor is a direct or indirect Subsidiary of the BorrowerREIT Guarantor, and the guaranty and surety obligations of each Guarantor pursuant to this Agreement reasonably may be expected to benefit, directly or indirectly, such Guarantor; and each Guarantor has determined that this Agreement is necessary and convenient to the conduct conduct, promotion and promotion attainment of the business of such Guarantor and the Borrower.

Appears in 1 contract

Samples: Guaranty and Security Agreement (Community Healthcare Trust Inc)

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Benefit to the Guarantors. As of the Closing Date, the each Borrower is a member of an affiliated group of companies that includes each Guarantor, and the Borrower Borrowers and the Guarantors are engaged in related businesses permitted pursuant to Section 5.3 of the Credit Agreement. Each Guarantor (other than Parent) is a Subsidiary of the BorrowerParent, and the guaranty and surety obligations of each Guarantor pursuant to this Agreement reasonably may be expected to benefit, directly or indirectly, such Guarantor; and each Guarantor has determined that this Agreement is necessary and convenient to the conduct conduct, promotion, and promotion attainment of the business of such Guarantor and the BorrowerBorrowers.

Appears in 1 contract

Samples: Guaranty and Security Agreement (Tessco Technologies Inc)

Benefit to the Guarantors. As of the Closing Date, the Borrower is a member of an affiliated group of companies that includes each Guarantor, and the Borrower and the Guarantors are engaged in related businesses permitted pursuant to Section 5.3 7.3(b) of the Credit Agreement. Each Guarantor is a direct or indirect Subsidiary of the Borrower, and the guaranty and surety obligations of each Guarantor pursuant to this Agreement reasonably may be expected to benefit, directly or indirectly, such Guarantor; and each Guarantor has determined that this Agreement is necessary and convenient to the conduct conduct, promotion and promotion attainment of the business of such Guarantor and the Borrower.

Appears in 1 contract

Samples: Credit Agreement (GTY Technology Holdings Inc.)

Benefit to the Guarantors. As of the Closing Date, each of the Borrower Borrowers is a member of an affiliated group of companies that includes each Guarantor, and the Borrower Borrowers and the Guarantors are engaged in related businesses permitted pursuant to Section 5.3 of the Credit Agreement. Each Guarantor is a parent holding company or Subsidiary of the BorrowerBorrowers, and the guaranty and surety obligations of each Guarantor pursuant to this Agreement reasonably may be expected to benefit, directly or indirectly, such Guarantor; and each Guarantor has determined that this Agreement is necessary and convenient to the conduct conduct, promotion and promotion attainment of the business of such Guarantor and the BorrowerBorrowers.

Appears in 1 contract

Samples: Guaranty and Security Agreement (Danimer Scientific, Inc.)

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