Common use of Continuation and Reinstatement, etc Clause in Contracts

Continuation and Reinstatement, etc. Each Guarantor further agrees that its guaranty under this Article 10 shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of any Obligation is rescinded or must otherwise be restored by the Agent, the Issuing Bank or the Lenders upon the bankruptcy or reorganization of the Borrower or a Guarantor, or otherwise. In furtherance of the provisions of this Article 10, and not in limitation of any other right which the Agent, the Issuing Bank or the Lenders may have at law or in equity against the Borrower, a Guarantor or any other Person by virtue hereof, upon failure of the Borrower to pay any Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice or otherwise, each Guarantor hereby promises to and will, upon receipt of written demand by the Agent on behalf of itself, the Issuing Bank and/or the Lenders, forthwith pay or cause to be paid to the Agent for the benefit of itself, the Issuing Bank and/or the Lenders (as applicable) in cash an amount equal to the unpaid amount of all the Obligations with interest thereon at a rate of interest equal to the rate specified in Section 2.9(a) hereof, and thereupon the Agent shall assign such Obligation, together with all security interests, if any, then held by the Agent in respect of such Obligation, to the Guarantors making such payment; such assignment to be subordinate and junior to the rights of the Agent on behalf of itself, the Issuing Bank and the Lenders with regard to amounts payable by the Borrower in connection with the remaining unpaid Obligations and to be pro tanto to the extent to which the Obligation in question was discharged by the Guarantor or Guarantors making such payments.

Appears in 2 contracts

Samples: Credit, Security, Guaranty and Pledge Agreement (Crown Media Holdings Inc), Guaranty and Pledge Agreement (Crown Media Holdings Inc)

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Continuation and Reinstatement, etc. (a) Each Guarantor further agrees that its guaranty under this Article 10 hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of any Obligation is rescinded or must otherwise be restored by the Administrative Agent, the Issuing Bank or the Lenders upon the bankruptcy or reorganization of the Borrower or a Guarantor, or otherwise. In furtherance of the provisions of this Article 109, and not in limitation of any other right which the Administrative Agent, the Issuing Bank or the Lenders may have at law or in equity against the Borrower, Borrower or a Guarantor or any other Person by virtue hereof, upon failure of the Borrower to pay any Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice or otherwise, each Guarantor hereby promises to and will, upon receipt of written demand by the Administrative Agent on behalf of itself, the Issuing Bank and/or and the Lenders, forthwith pay or cause to be paid to the Administrative Agent for the benefit of itselfthe Administrative Agent, the Issuing Bank and/or and the Lenders (as applicable) in cash an amount equal to the unpaid amount of all the Obligations with interest thereon at a rate of interest equal to the rate specified in Section 2.9(a2.7(a) hereof, and thereupon the Administrative Agent shall assign such Obligation, together with all security interests, if any, then held by the Administrative Agent in respect of such Obligation, to the Guarantors making such payment; such assignment to be subordinate and junior to the rights of the Administrative Agent on behalf of itself, the Issuing Bank and the Lenders with regard to amounts payable by the Borrower in connection with the remaining unpaid Obligations and to be pro tanto to the extent to which the Obligation in question was discharged by the Guarantor or Guarantors making such payments.

Appears in 2 contracts

Samples: Credit, Security, Guaranty and Pledge Agreement (First Look Studios Inc), Guaranty and Pledge Agreement (Overseas Filmgroup Inc)

Continuation and Reinstatement, etc. (a) Each Corporate Guarantor further agrees that its guaranty under this Article 10 hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of any Obligation is rescinded or must otherwise be restored by the Agent, the Issuing Bank or the Lenders Lender upon the bankruptcy or reorganization of the Borrower or a Corporate Guarantor, or otherwise. In furtherance of the provisions of this Article 109, and not in limitation of any other right which the Agent, the Issuing Bank or the Lenders Lender may have at law or in equity against the Borrower, Borrower or a Corporate Guarantor or any other Person by virtue hereof, upon failure of the Borrower to pay any Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice or otherwise, each Corporate Guarantor hereby promises to and will, upon receipt of written demand by the Agent on behalf of itself, the Issuing Bank and/or the LendersLender, forthwith pay or cause to be paid to the Agent for the benefit of itself, the Issuing Bank and/or the Lenders (as applicable) Lender in cash an amount equal to the unpaid amount of all the Obligations with interest thereon at a rate of interest equal to the rate specified in Section 2.9(a2.7(a) hereof, and thereupon the Agent Lender shall assign such Obligation, together with all security interests, if any, then held by the Agent Lender in respect of such Obligation, to the Corporate Guarantors making such payment; such assignment to be subordinate and junior to the rights of the Agent on behalf of itself, the Issuing Bank and the Lenders Lender with regard to amounts payable by the Borrower in connection with the remaining unpaid Obligations and to be pro tanto to the extent to which the Obligation in question was discharged by the Corporate Guarantor or Corporate Guarantors making such payments.

Appears in 2 contracts

Samples: Agreement (Dove Entertainment Inc), Guaranty Agreement (Newstar Media Inc)

Continuation and Reinstatement, etc. (a) Each Guarantor further agrees that its guaranty under this Article 10 hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of principal of or interest on any Obligation is rescinded or must otherwise be restored by the Agent, the Issuing Bank Agent or the Lenders upon the bankruptcy or reorganization of the Borrower Borrower, any of the Subsidiary Borrowers or a Guarantorthe Guarantors, or otherwise. In furtherance of the provisions of this Article 10VIII, and not in limitation of any other right which the Agent, the Issuing Bank Agent or the Lenders may have at law or in equity against the Borrower, a Guarantor any Subsidiary Borrower or any other Person Guarantor by virtue hereof, upon failure of the Borrower or any Subsidiary Borrower to pay any Obligation when and as the same shall become becomes due, whether at maturity, by acceleration, after notice or otherwise, each Guarantor hereby promises to and will, upon receipt of written demand by the Agent on behalf of itself, the Issuing Bank and/or the Lenders, forthwith pay or cause to be paid to the Agent for the benefit on behalf of itself, the Issuing Bank and/or the Lenders (as applicable) in cash an amount equal to the unpaid amount of all the Obligations in each case with interest thereon at a rate of interest equal to the rate specified in Section 2.9(a) Article II hereof, and thereupon the Agent and the Lenders shall assign such Obligation, together with all security interests, if any, then held by the Agent or the Lenders in respect of such Obligation, to the Guarantors making such payment; such assignment to be subordinate and junior to the rights of the Agent on behalf of itself, the Issuing Bank and the Lenders with regard to amounts payable by the Borrower in connection with the remaining unpaid Obligations and to be pro tanto to the extent to which the Obligation in question was discharged by the Guarantor or Guarantors making such payments.

Appears in 2 contracts

Samples: Credit Agreement (Sunrise Medical Inc), Credit Agreement (Sunrise Medical Inc)

Continuation and Reinstatement, etc. (a) Each Guarantor further agrees that its guaranty under this Article 10 hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, payment of any Obligation or any part thereof, of any Obligation is rescinded or must otherwise be restored by the Administrative Agent, the Issuing Bank or the Lenders upon the bankruptcy or reorganization of the Borrower or a Guarantor, or otherwise. In furtherance of the provisions of this Article 109, and not in limitation 160 of any other right which the Administrative Agent, the Issuing Bank or the Lenders may have at law or in equity against the Borrower, a Guarantor or any other Person by virtue hereof, upon failure of the Borrower to pay any Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice or otherwise, each Guarantor hereby promises to and will, upon receipt of written demand by the Administrative Agent on behalf of itself, itself and/or any of the Issuing Bank and/or the Lendersother Secured Parties, forthwith pay or cause to be paid to the Administrative Agent (for the benefit of itself, the Issuing Bank itself and/or the Lenders (Secured Parties, as applicable) ), in cash an amount equal to the unpaid amount of all the such unpaid Obligations with interest thereon from the due date at a rate of interest equal to the rate specified in Section 2.9(a) hereof2.7(a), and thereupon the Administrative Agent shall assign such Obligation, together with all security interests, if any, then held by the Administrative Agent in respect of such Obligation, to the Guarantor or Guarantors making such payment; such assignment to be subordinate and junior to the rights of the Administrative Agent (on behalf of itself, the Issuing Bank and the Lenders Secured Parties) with regard to amounts payable by the Borrower in connection with the remaining unpaid Obligations and to be pro tanto to the extent to which the Obligation in question was discharged by the Guarantor or Guarantors making such payments.

Appears in 1 contract

Samples: Credit, Security, Guaranty and Pledge Agreement (Eros International PLC)

Continuation and Reinstatement, etc. (i) Each Guarantor further agrees that its guaranty under this Article 10 Guaranty hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of any Obligation is rescinded or must otherwise be restored by the Agent, the Issuing Bank Administrative Agent or the Lenders any other Secured Party upon the bankruptcy or reorganization of the Borrower or a Guarantor, or otherwise. In furtherance of the provisions of this Article 10Section 11.03, and not in limitation of any other right which that the Agent, the Issuing Bank Administrative Agent or the Lenders any other Secured Party may have at law or in equity against the Borrower, a Guarantor or any other Person by virtue hereof, upon failure of the Borrower to pay any Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice or otherwise, each Guarantor hereby promises to and will, upon receipt of written demand by the Administrative Agent on behalf of itself, itself and/or any of the Issuing Bank and/or the Lendersother Secured Parties, forthwith pay or cause to be paid to the Administrative Agent for the benefit of itself, the Issuing Bank itself and/or the Lenders other Secured Parties (as applicable) in cash an amount equal to the unpaid amount of all the such unpaid Obligations with interest thereon from the due date at a rate of interest equal to the rate specified in Section 2.9(a) hereof2.07(b), and thereupon the Administrative Agent shall assign such Obligation, together with all security interests, if any, then held by the Administrative Agent in respect of such Obligation, to the Guarantor or Guarantors making such payment; such assignment to be subordinate and junior to the rights of the Administrative Agent (on behalf of itself, the Issuing Bank and the Lenders Secured Parties) with regard to amounts payable by the Borrower in connection with the remaining unpaid Obligations and to be pro tanto to the extent to which the Obligation in question was discharged by the Guarantor or Guarantors making such payments.

Appears in 1 contract

Samples: Credit, Security and Guaranty Agreement (World Wrestling Entertainmentinc)

Continuation and Reinstatement, etc. Each Guarantor further agrees that its guaranty under this Article 10 hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of any Obligation is rescinded or must otherwise be restored by the Agent, the Issuing Bank Agent or the Lenders upon the bankruptcy or reorganization of the Borrower Company or a Guarantor, or otherwise. In furtherance of the provisions of this Article 10X, and not in limitation of any other right which the Agent, the Issuing Bank Agent or the Lenders may have at law or in equity against the Borrower, Company or a Guarantor or any other Person by virtue hereof, upon failure of the Borrower Company to pay any Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice or otherwise, each Guarantor hereby promises to and will, upon receipt of written demand by the Agent on behalf of itself, the Issuing Bank and/or the Lenders, forthwith pay or cause to be paid to the Agent for the benefit of itself, the Issuing Bank and/or the Lenders (as applicable) in cash an amount equal to the unpaid amount of all the Obligations with interest thereon at a rate of interest equal to the rate specified in Section 2.9(a) 3.01 hereof, and thereupon the Agent shall assign such Obligation, together with all security interests, if any, then held by the Agent in respect of such Obligation, to the Guarantors making such payment; such assignment to be subordinate and junior to the rights of the Agent on behalf of itself, the Issuing Bank and the Lenders with regard to amounts payable by the Borrower Company in connection with the remaining unpaid Obligations and to be pro tanto to the extent to which the Obligation in question was discharged by the Guarantor or Guarantors making such payments.

Appears in 1 contract

Samples: Agreement (Family Golf Centers Inc)

Continuation and Reinstatement, etc. (a) Each Guarantor ------------------------------------ further agrees that its guaranty under this Article 10 hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of any Obligation is rescinded or must otherwise be restored by the Administrative Agent, the Issuing Fronting Bank or the Lenders upon the bankruptcy or reorganization of the Borrower or a Guarantor, or otherwise. In furtherance of the provisions of this Article 108, and not in limitation of any other right which the Administrative Agent, the Issuing Fronting Bank or the Lenders may have at law or in equity against the Borrower, Borrower or a Guarantor or any other Person by virtue hereof, upon failure of the Borrower to pay any Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice or otherwise, each Guarantor hereby promises to and will, upon receipt of written demand by the Administrative Agent on behalf of itself, the Issuing Bank and/or the Lenders, forthwith pay or cause to be paid to the Administrative Agent for the benefit of itself, the Issuing Bank and/or the Lenders (as applicable) in cash an amount equal to the unpaid amount of all the Obligations with interest thereon at a rate of interest equal to the rate specified in Section 2.9(a2.8(a) hereof, and thereupon the Administrative Agent shall to the extent permitted by the Collateral Agency Agreement, direct the Collateral Agent to assign such Obligation, together with all security interests, if any, then held by the Collateral Agent on behalf of the Administrative Agent in respect of such Obligation, to the Guarantors making such payment; such assignment to be subordinate and junior to the rights of the Administrative Agent on behalf of itself, the Issuing Bank and the Lenders with regard to amounts payable by the Borrower in connection with the remaining unpaid Obligations and to be pro tanto to the extent to which the Obligation in question was discharged by the Guarantor or Guarantors making such payments.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Artisan Entertainment Inc)

Continuation and Reinstatement, etc. (i) Each Guarantor further agrees that its guaranty under this Article 10 guarantee hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, payment of any Obligation or any part thereof, of any Obligation is rescinded or must otherwise be restored by the Agent, the Issuing Bank Agent or the Lenders upon the bankruptcy or reorganization of the Borrower or a Guarantorany other Credit Party, or otherwise. In furtherance of the provisions of this Article 10Section 8.1, and not in limitation of any other right which the Agent, the Issuing Bank Agent or the Lenders may have at law or in equity against the Borrower, a Guarantor any other Credit Party or any other Person by virtue hereof, upon failure of the any Borrower to pay any Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice or otherwise, each Guarantor hereby promises to and will, upon receipt of written demand by the Agent on behalf of itself, itself and/or any of the Issuing Bank and/or the Lendersother Secured Parties, forthwith pay or cause to be paid to the Agent (for the benefit of itself, the Issuing Bank itself and/or the Lenders (Secured Parties, as applicable) ), in cash an amount equal to the unpaid amount of all the such unpaid Obligations with interest thereon from the due date at a rate of interest equal to the rate specified in Section 2.9(a) hereof, under this Agreement and thereupon the Agent shall assign such Obligation, together with all security interests, if any, then held by the Agent in respect of such Obligation, to the Guarantor or Guarantors making such payment; such assignment to be subordinate and junior to the rights of the Agent (on behalf of itself, the Issuing Bank and the Lenders Secured Parties) with regard to amounts payable by the Borrower Borrowers in connection with the remaining unpaid Obligations and to be pro tanto to the extent to which the Obligation in question was discharged by the Guarantor or Guarantors making such payments.

Appears in 1 contract

Samples: Credit, Security and Guaranty Agreement (Chicken Soup for the Soul Entertainment, Inc.)

Continuation and Reinstatement, etc. (a) Each Guarantor further agrees that its guaranty under this Article 10 Guaranty hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of any Obligation is rescinded or must otherwise be restored by the either Agent, the Issuing Bank Bank, any Lender or the Lenders any other Secured Party upon the bankruptcy or reorganization of the Borrower or a Guarantor, or otherwise. In furtherance of the provisions of this Article 109, and not in limitation of any other right which the either Agent, the Issuing Bank Bank, any Lender or the Lenders any other Secured Party may have at law or in equity against the Borrower, a Guarantor or any other Person by virtue hereof, upon failure of the Borrower to pay any Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice or otherwise, each Guarantor hereby promises to and will, upon receipt of written demand by the Agent on behalf of itselfeither Agent, the Issuing Bank and/or the LendersBank, any Lender or any other Secured Party, forthwith pay or cause to be paid to the Collateral Agent for the benefit of itself, the Issuing Bank and/or the Lenders Secured Parties (as applicable) in cash an amount equal to the unpaid amount of all the Obligations with interest thereon at a rate of interest equal to the rate specified in Section 2.9(a2.13(a) hereof, and thereupon the Collateral Agent shall assign such Obligation, together with all security interests, if any, then held by the Collateral Agent in respect of such Obligation, to the Guarantors making such payment; such assignment to be subordinate and junior to the rights of the Collateral Agent on behalf of itself, the Issuing Bank and the Lenders Secured Parties with regard to amounts payable by the Borrower in connection with the remaining unpaid Obligations (including interest accruing on and after the filing of any petition in bankruptcy or of reorganization of an obligor whether or not post filing interest is allowed in such proceeding) and to be pro tanto to the extent to which the Obligation in question was discharged by the Guarantor or Guarantors making such payments.

Appears in 1 contract

Samples: Guaranty and Pledge Agreement (Guilford Mills Inc)

Continuation and Reinstatement, etc. (a) Each Guarantor further agrees that its guaranty under this Article 10 Guaranty hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of any Obligation is rescinded or must otherwise be restored by any of the Administrative Agent, the Issuing Bank Bank, any Lender or the Lenders any other Secured Party upon the bankruptcy or reorganization of the Borrower or a Guarantor, or otherwise. In furtherance of the provisions of this Article 109, and not in limitation of any other right which any of the Administrative Agent, the Issuing Bank Bank, any Lender or the Lenders any other Secured Party may have at law or in equity against the Borrower, a Guarantor or any other Person by virtue hereof, upon failure of the Borrower to pay any Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice or otherwise, each Guarantor hereby promises to and will, upon receipt of written demand by any of the Agent on behalf of itselfAdministrative Agent, the Issuing Bank and/or the LendersBank, any Lender or any other Secured Party, forthwith pay or cause to be paid to the Administrative Agent for the benefit of itself, the Issuing Bank and/or the Lenders Secured Parties (as applicable) in cash an amount equal to the unpaid amount of all the Obligations with interest thereon at a rate of interest equal to the rate specified in Section 2.9(a2.10(a) hereof, and thereupon the Administrative Agent shall assign such Obligation, together with all security interests, if any, then held by the Administrative Agent in respect of such Obligation, to the Guarantors making such payment; such assignment to be subordinate and junior to the rights of the Administrative Agent on behalf of itself, the Issuing Bank and the Lenders Secured Parties with regard to amounts payable by the Borrower in connection with the remaining unpaid Obligations (including interest accruing on and after the filing of any petition in bankruptcy or of reorganization of an obligor whether or not post filing interest is allowed in such proceeding) and to be pro tanto to the extent to which the Obligation in question was discharged by the Guarantor or Guarantors making such payments.

Appears in 1 contract

Samples: Genesis Healthcare Corp

Continuation and Reinstatement, etc. (a) Each Guarantor further agrees that its guaranty under this Article 10 hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, payment of any Obligation or any part thereof, of any Obligation is rescinded or must otherwise be restored by the Agent, the Issuing Bank Administrative Agent or the Lenders upon the bankruptcy or reorganization of the Borrower or a Guarantor, or otherwise. In furtherance of the provisions of this Article 109, and not in limitation of any other right which the Agent, the Issuing Bank Administrative Agent or the Lenders may have at law or in equity against the Borrower, a Guarantor or any other Person by virtue hereof, upon failure of the Borrower to pay any Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice or otherwise, each Guarantor hereby promises to and will, upon receipt of written demand by the Administrative Agent on behalf of itself, itself and/or any of the Issuing Bank and/or the Lendersother Secured Parties, forthwith pay or cause to be paid to the Administrative Agent (for the benefit of itself, the Issuing Bank itself and/or the Lenders (Secured Parties, as applicable) ), in cash an amount equal to the unpaid amount of all the such unpaid Obligations with interest thereon from the due date at a rate of interest equal to the rate specified in Section 2.9(a) hereof2.7, and thereupon the Administrative Agent shall assign such Obligation, together with all security interests, if any, then held by the Administrative Agent in respect of such Obligation, to the Guarantor or Guarantors making such payment; such assignment to be subordinate and junior 108 to the rights of the Administrative Agent (on behalf of itself, the Issuing Bank and the Lenders Secured Parties) with regard to amounts payable by the Borrower in connection with the remaining unpaid Obligations and to be pro tanto to the extent to which the Obligation in question was discharged by the Guarantor or Guarantors making such payments.

Appears in 1 contract

Samples: Guaranty and Pledge Agreement (Eros International PLC)

Continuation and Reinstatement, etc. Each (a) Guarantor further agrees that its guaranty under this Article 10 hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of principal of or interest on any Guaranteed Obligation is rescinded or must otherwise be restored by the Agent, the Issuing Bank Purchaser or the Lenders Agent upon the bankruptcy or other reorganization of the Borrower or a Guarantor, Seller or otherwise. In furtherance of the provisions of this Article 10Guaranty, and not in limitation of any other right which the Agent, the Issuing Bank Purchaser or the Lenders Agent may have at law or in equity against the Borrower, a Guarantor or any other Person Seller by virtue hereof, upon failure of the Borrower a Seller to pay any Guaranteed Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice or otherwise, each Guarantor hereby promises to and will, upon receipt of written demand by the Agent on behalf of itself, Purchaser or the Issuing Bank and/or the LendersAgent, forthwith pay or cause to be paid to the Purchaser or the Agent for the benefit of itself, the Issuing Bank and/or the Lenders (as applicable) in cash an amount equal to the unpaid amount of all the Obligations with interest thereon at a rate of interest equal to the rate specified in Section 2.9(a) hereofsuch Guaranteed Obligation, and thereupon the Purchaser or the Agent shall assign such Guaranteed Obligation, together with all security interests, if any, then held by the Agent or the Purchaser in respect of such Guaranteed Obligation, to the Guarantors making such payment; such assignment to be subordinate and junior to the rights of the Agent on behalf of itself, the Issuing Bank and the Lenders with regard to amounts payable by the Borrower in connection with the remaining unpaid Obligations and to be pro tanto to the extent to which the Obligation in question was discharged by the Guarantor or Guarantors making such paymentsGuarantor.

Appears in 1 contract

Samples: Guaranty (Walter Investment Management Corp)

Continuation and Reinstatement, etc. (a) Each Guarantor further agrees that its guaranty under this Article 10 hereunder shall continue to be effective or be reinstated, as the case may be, if at any time paymentpayment of any Obligation, or any part thereof, of any Obligation is rescinded or must otherwise be restored by the Agent, the Issuing Bank Administrative Agent or the Lenders upon the bankruptcy or reorganization of the Borrower or a Guarantor, or otherwise. In furtherance of the provisions of this Article 109, and not in limitation of any other right which the Agent, the Issuing Bank Administrative Agent or the Lenders may have at law or in equity against the Borrower, a Guarantor or any other Person by virtue hereof, upon failure of the Borrower to pay any Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice or otherwise, each Guarantor hereby promises to and will, upon receipt of written demand by the Administrative Agent on behalf of itself, itself and/or any of the Issuing Bank and/or the Lendersother Secured Parties, forthwith pay or cause to be paid to the Administrative Agent (for the benefit of itself, the Issuing Bank itself and/or the Lenders (Secured Parties, as applicable) in cash an amount equal to the unpaid amount of all the such unpaid Obligations with interest thereon from the due date at a rate of interest equal to the rate specified in Section 2.9(a) hereof2.5(a), and thereupon the Administrative Agent shall assign such Obligation, together with all security interests, if any, then held by the 112 Administrative Agent in respect of such Obligation, to the Guarantor or Guarantors making such payment; such assignment to be subordinate and junior to the rights of the Administrative Agent (on behalf of itself, the Issuing Bank and the Lenders Secured Parties) with regard to amounts payable by the Borrower in connection with the remaining unpaid Obligations and to be pro tanto to the extent to which the Obligation in question was discharged by the Guarantor or Guarantors making such payments.

Appears in 1 contract

Samples: Guaranty and Pledge Agreement (Lions Gate Entertainment Corp /Cn/)

Continuation and Reinstatement, etc. (a) Each Guarantor further agrees that its guaranty under this Article 10 hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of principal of or interest on any Obligation is rescinded or must otherwise be restored by the Agent, the Issuing Bank or the Lenders Lender upon the bankruptcy or reorganization of the Borrower or a Guarantorthe Guarantors, or otherwise. In furtherance of the provisions of this Article 10, 8 and not in limitation of any other right which the Agent, the Issuing Bank or the Lenders Lender may have at law or in equity against the Borrower, a Guarantor Borrower or any other Person Guarantor by virtue hereof, upon failure of the Borrower to pay any Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice or otherwise, each Guarantor hereby promises to and will, upon receipt of written demand by the Agent on behalf of itself, the Issuing Bank and/or the LendersLender, forthwith pay or cause to be paid to the Agent for the benefit of itself, the Issuing Bank and/or the Lenders (as applicable) Lender in cash an amount equal to the unpaid amount of all the Obligations with interest thereon at a rate of interest equal to the rate specified in Section 2.9(a) hereofthe Notes, and thereupon the Agent Lender shall assign such Obligation, together with all security interests, if any, then held by the Agent Lender in respect of such Obligation, to the Guarantors making such payment; such assignment to be subordinate and junior to the rights of the Agent on behalf of itself, the Issuing Bank and the Lenders with regard to amounts payable by the Borrower in connection with the remaining unpaid Obligations and to be pro tanto to the extent to which the Obligation in question was discharged by the Guarantor or Guarantors making such payments.

Appears in 1 contract

Samples: Lease Agreement (Showboat Inc)

Continuation and Reinstatement, etc. (a) Each Guarantor further agrees that its guaranty under this Article 10 Guaranty hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of any Obligation is rescinded or must otherwise be restored or returned by the Agent, the Issuing Bank or the Lenders any Secured Party upon the bankruptcy or reorganization of the Borrower or a Guarantor, or otherwise. In furtherance of the provisions of this Article 108, and not in limitation of any other right which the Agent, the Issuing Bank or the Lenders any Secured Party may have at law or in equity against the Borrower, a Guarantor or any other Person by virtue hereof, upon failure of the Borrower to pay any Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice or otherwise, each Guarantor hereby promises to and will, upon receipt of written demand by the Administrative Agent on behalf (acting at the request of itself, a Secured Party and subject to the Issuing Bank and/or the LendersIntercreditor Agreement), forthwith pay or cause to be paid to the Administrative Agent for the benefit of itself, the Issuing Bank and/or the Lenders Secured Parties (as applicable) in cash an amount equal to the unpaid amount of all the Obligations such Obligation with interest thereon at a rate of interest equal to the rate specified in Section 2.9(a2.7(a) hereof, and thereupon the Administrative Agent shall assign such Obligation, together with Obligation and the Collateral Agent shall assign all security interests, if any, then held by the Administrative Agent in respect of such Obligation, to the Guarantor or Guarantors making such payment; such assignment to be subordinate and junior to the rights of the Collateral Agent with respect to the Collateral on behalf of itself, the Issuing Bank Secured Parties and to the Lenders rights of the Administrative Agent with regard to amounts payable by the Borrower in connection with the remaining unpaid Obligations (including, without limitation, Post-Petition Interest) and to be pro tanto to the extent to which the Obligation in question was discharged by the Guarantor or Guarantors making such payments.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Thermadyne Holdings Corp /De)

Continuation and Reinstatement, etc. Each Guarantor (b) The Parent further agrees that its guaranty under this Article 10 hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of any Parent Guaranteed Obligation is rescinded or must otherwise be restored by the Administrative Agent, the Issuing Bank or the Lenders upon the bankruptcy or reorganization of the Borrower Borrower, or a Guarantor, or otherwise. In furtherance of the provisions of this Article 10, and not in limitation of any other right which the Administrative Agent, the Issuing Bank or the Lenders may have at law or in equity against the Borrower, the Parent, a Guarantor or any other Person by virtue hereof, upon failure of the Borrower to pay any Parent Guaranteed Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice or otherwise, each Guarantor the Parent hereby promises to and will, upon receipt of written demand by the Administrative Agent on behalf of itself, itself and/or the Issuing Bank and/or the Lenders, forthwith pay or cause to be paid to the Administrative Agent for the benefit of itself, the Issuing Bank and/or the Lenders (as applicable) in cash an amount equal to the lesser of (i) the unpaid amount of all such unpaid Obligations and (ii) the Obligations unpaid amount of the Parent Guaranteed Obligations, in either case with interest thereon from the due date at a rate of interest equal to the rate specified in Section 2.9(a2.7(a) hereof, and thereupon the Administrative Agent shall assign such Obligation, together with all security interests, if any, then held by the Administrative Agent in respect of such Obligation, to the Guarantors Parent making such payment; such assignment to be subordinate and junior to the rights of the Administrative Agent on behalf of itself, the Issuing Bank and the Lenders with regard to amounts payable by the Borrower in connection with the remaining unpaid Obligations and to be pro tanto to the extent to which the Obligation in question was discharged by the Parent, the Guarantor or Guarantors making such payments.

Appears in 1 contract

Samples: Credit, Security, Guaranty and Pledge Agreement (Idt Corp)

Continuation and Reinstatement, etc. (a) Each Guarantor further agrees that its guaranty under this Article 10 Guaranty hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of any Obligation is rescinded or must otherwise be restored by the any Agent, the Issuing Bank Bank, any Lender or the Lenders any other Secured Party upon the bankruptcy or reorganization of the Borrower or a Guarantor, or otherwise. In furtherance of the provisions of this Article 109, and not in limitation of any other right which the any Agent, the Issuing Bank Bank, any Lender or the Lenders any other Secured Party may have at law or in equity against the Borrower, a Guarantor or any other Person by virtue hereof, upon failure of the Borrower to pay any Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice or otherwise, each Guarantor hereby promises to and will, upon receipt of written demand by the Agent on behalf of itselfany Agent, the Issuing Bank and/or the LendersBank, any Lender or any other Secured Party, forthwith pay or cause to be paid to the Collateral Agent for the benefit of itself, the Issuing Bank and/or the Lenders Secured Parties (as applicable) in cash an amount equal to the unpaid amount of all the Obligations with interest thereon at a rate of interest equal to the rate specified in Section 2.9(a2.13(a) hereof, and thereupon the Collateral Agent shall assign such Obligation, together with all security interests, if any, then held by the Collateral Agent in respect of such Obligation, to the Guarantors making such payment; such assignment to be subordinate and junior to the rights of the Collateral Agent on behalf of itself, the Issuing Bank and the Lenders Secured Parties with regard to amounts payable by the Borrower in connection with the remaining unpaid Obligations (including interest accruing on and after the filing of any petition in bankruptcy or of reorganization of an obligor whether or not post filing interest is allowed in such proceeding) and to be pro tanto to the extent to which the Obligation in question was discharged by the Guarantor or Guarantors making such payments.

Appears in 1 contract

Samples: Guaranty and Pledge Agreement (Genesis Health Ventures Inc /Pa)

Continuation and Reinstatement, etc. (a) Each Guarantor further agrees that its guaranty under this Article 10 Guaranty hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of any Secured Obligation is rescinded or must otherwise be restored by the Agent, the Issuing Bank or the Lenders any Secured Party upon the bankruptcy or reorganization of the Borrower GMI or a Guarantor, or otherwise. In furtherance of the provisions of this Article 10Section 2, and not in limitation of any other right which the Agent, the Issuing Bank or the Lenders any Secured Party may have at law or in equity against the BorrowerGMI, a Guarantor or any other Person by virtue hereof, upon failure of the Borrower GMI to pay any Secured Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice or otherwise, each Guarantor hereby promises to and will, upon receipt of written demand by the Agent on behalf of itself, the Issuing Bank and/or the Lendersany Secured Party, forthwith pay or cause to be paid to the Collateral Agent for the benefit of itself, the Issuing Bank and/or the Lenders Secured Parties (as applicable) in cash an amount equal to the unpaid amount of all the Secured Obligations with interest thereon at a rate of interest equal to the rate specified in Section 2.9(a) hereofapplicable default rate, and thereupon the Collateral Agent shall assign such Secured Obligation, together with all security interests, if any, then held by the Collateral Agent in respect of such Secured Obligation, to the Guarantors making such payment; such assignment to be subordinate and junior to the rights of the Collateral Agent on behalf of itself, the Issuing Bank and the Lenders Secured Parties with regard to amounts payable by the Borrower GMI in connection with the remaining unpaid Secured Obligations (including interest accruing on and after the filing of any petition in bankruptcy or of reorganization of an obligor whether or not post filing interest is allowed in such proceeding) and to be pro tanto to the extent to which the Secured Obligation in question was discharged by the Guarantor or Guarantors making such payments.

Appears in 1 contract

Samples: Security and Pledge Agreement (Guilford Mills Inc)

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Continuation and Reinstatement, etc. Each Guarantor (a) The Parent further agrees that its guaranty under this Article 10 hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of any Parent Obligation is rescinded or must otherwise be restored by the Administrative Agent, the Issuing Bank or the Lenders upon the bankruptcy or reorganization of the Borrower Borrower, or a Guarantor, or otherwise. In furtherance of the provisions of this Article 10, and not in limitation of any other right which the Administrative Agent, the Issuing Bank or the Lenders may have at law or in equity against the Borrower, the Parent, a Guarantor or any other Person by virtue hereof, upon failure of the Borrower to pay any Parent Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice or otherwise, each Guarantor the Parent hereby promises to and will, upon receipt of written demand by the Administrative Agent on behalf of itself, itself and/or the Issuing Bank and/or the Lenders, forthwith pay or cause to be paid to the Administrative Agent for the benefit of itself, the Issuing Bank and/or the Lenders (as applicable) in cash an amount equal to the lesser of (i) the unpaid amount of all such unpaid Obligations and (ii) the Obligations unpaid amount of the Parent Obligations, in either case with interest thereon from the due date at a rate of interest equal to the rate specified in Section 2.9(a2.7(a) hereof, and thereupon the Administrative Agent shall assign such Obligation, together with all security interests, if any, then held by the Administrative Agent in respect of such Obligation, to the Guarantors Parent making such payment; such assignment to be subordinate and junior to the rights of the Administrative Agent on behalf of itself, the Issuing Bank and the Lenders with regard to amounts payable by the Borrower in connection with the remaining unpaid Obligations and to be pro tanto to the extent to which the Obligation in question was discharged by the Parent, the Guarantor or Guarantors making such payments.

Appears in 1 contract

Samples: Credit, Security, Guaranty and Pledge Agreement (Idt Corp)

Continuation and Reinstatement, etc. (a) Each Guarantor further agrees that its guaranty under this Article 10 hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of any Obligation is rescinded or must otherwise be restored by the Administrative Agent, the Issuing Bank or the Lenders upon the bankruptcy or reorganization of the Borrower or a Guarantor, or otherwise. In furtherance of the provisions of this Article 109, and not in limitation of any other right which the Administrative Agent, the Issuing Bank or the Lenders may have at law or in equity against the Borrower, a Guarantor or any other Person by virtue hereof, upon failure of the Borrower to pay any Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice or otherwise, each Guarantor hereby promises to and will, upon receipt of written demand by the Administrative Agent on behalf of itself, itself and/or the Issuing Bank and/or the Lenders, forthwith pay or cause to be paid to the Administrative Agent for the benefit of itself, the Issuing Bank and/or the Lenders (as applicable) in cash an amount equal to the unpaid amount of all the such unpaid Obligations with interest thereon from the due date at a rate of interest equal to the rate specified in Section 2.9(a2.8(a) hereof, and thereupon the Administrative Agent shall assign such Obligation, together with all security interests, if any, then held by the Administrative Agent in respect of such Obligation, to the Guarantor or Guarantors making such payment; such assignment to be subordinate and junior to the rights of the Administrative Agent on behalf of itself, the Issuing Bank and the Lenders with regard to amounts payable by the Borrower in connection with the remaining unpaid Obligations and to be pro tanto to the extent to which the Obligation in question was discharged by the Guarantor or Guarantors making such payments.

Appears in 1 contract

Samples: Credit, Security, Guaranty and Pledge Agreement (RHI Entertainment, Inc.)

Continuation and Reinstatement, etc. (a) Each Guarantor further agrees that its guaranty under this Article 10 Guaranty hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of any Obligation is rescinded or must otherwise be restored or returned by the Agent, the Issuing Bank or the Lenders any Secured Party upon the bankruptcy or reorganization of the Borrower or a Guarantor, or otherwise. In furtherance of the provisions of this Article 108, and not in limitation of any other right which the Agent, the Issuing Bank or the Lenders any Secured Party may have at law or in equity against the Borrower, a Guarantor or any other Person by virtue hereof, upon failure of the Borrower to pay 106 any Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice or otherwise, each Guarantor hereby promises to and will, upon receipt of written demand by the Administrative Agent on behalf (acting at the request of itself, the Issuing Bank and/or the Lendersa Secured Party), forthwith pay or cause to be paid to the Administrative Agent for the benefit of itself, the Issuing Bank and/or the Lenders Secured Parties (as applicable) in cash an amount equal to the unpaid amount of all the Obligations such Obligation with interest thereon at a rate of interest equal to the rate specified in Section 2.9(a2.10(a) hereof, and thereupon the Administrative Agent shall assign such Obligation, together with all security interests, if any, then held by the Administrative Agent in respect of such Obligation, to the Guarantor or Guarantors making such payment; such assignment to be subordinate and junior to the rights of the Administrative Agent on behalf of itself, the Issuing Bank and the Lenders Secured Parties with regard to amounts payable by the Borrower in connection with the remaining unpaid Obligations (including, without limitation, Post-Petition Interest) and to be pro tanto to the extent to which the Obligation in question was discharged by the Guarantor or Guarantors making such payments.

Appears in 1 contract

Samples: Intercreditor Agreement (Wiltel Communications Group Inc)

Continuation and Reinstatement, etc. (a) Each Guarantor further agrees that its guaranty under this Article 10 hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of any Obligation is rescinded or must otherwise be restored by the Agent, the Issuing Bank Administrative Agent or the Lenders upon the bankruptcy or reorganization of the Borrower or a Guarantor, or otherwise. In furtherance of the provisions of this Article 109, and not in limitation of any other right which the Agent, the Issuing Bank Administrative Agent or the Lenders may have at law or in equity against the Borrower, a Guarantor or any other Person by virtue hereof, upon failure of the Borrower to pay any Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice or otherwise, each Guarantor hereby promises to and will, upon receipt of written demand by the Administrative Agent on behalf of itself, the Issuing Bank itself and/or the Lenders, forthwith pay or cause to be paid to the Administrative Agent for the benefit of itself, the Issuing Bank itself and/or the Lenders (as applicable) in cash an amount equal to the unpaid amount of all the such unpaid Obligations with interest thereon from the due date at a rate of interest equal to the rate specified in Section 2.9(a2.8(a) hereof, and thereupon the Administrative Agent shall assign such Obligation, together with all security interests, if any, then held by the Administrative Agent in respect of such Obligation, to the Guarantor or Guarantors making such payment; such assignment to be subordinate and junior to the rights of the Administrative Agent on behalf of itself, the Issuing Bank itself and the Lenders with regard to amounts payable by the Borrower in connection with the remaining unpaid Obligations and to be pro tanto to the extent to which the Obligation in question was discharged by the Guarantor or Guarantors making such payments.

Appears in 1 contract

Samples: Credit, Security, Guaranty and Pledge Agreement (RHI Entertainment, Inc.)

Continuation and Reinstatement, etc. Each (a) Guarantor further agrees that its guaranty under this Article 10 hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of principal of or interest on any Guaranteed Obligation is rescinded or must otherwise be restored by the Agent, the Issuing Bank Purchaser or the Lenders Agent upon the bankruptcy or other reorganization of the Borrower or a Guarantor, Seller or otherwise. In furtherance of the provisions of this Article 10Guaranty, and not in limitation of any other right which the Agent, the Issuing Bank Purchaser or the Lenders Agent may have at law or in equity against the Borrower, a Guarantor or any other Person Seller by virtue hereof, upon failure of the Borrower Seller to pay any Guaranteed Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice or otherwise, each Guarantor hereby promises to and will, upon receipt of written demand by the Agent on behalf of itself, Purchaser or the Issuing Bank and/or the LendersAgent, forthwith pay or cause to be paid to the Purchaser or the Agent for the benefit of itself, the Issuing Bank and/or the Lenders (as applicable) in cash an amount equal to the unpaid amount of all the Obligations with interest thereon at a rate of interest equal to the rate specified in Section 2.9(a) hereofsuch Guaranteed Obligation, and thereupon the Purchaser or the Agent shall assign such Guaranteed Obligation, together with all security interests, if any, then held by the Agent or the Purchaser in respect of such Guaranteed Obligation, to the Guarantors making such payment; such assignment to be subordinate and junior to the rights of the Agent on behalf of itself, the Issuing Bank and the Lenders with regard to amounts payable by the Borrower in connection with the remaining unpaid Obligations and to be pro tanto to the extent to which the Obligation in question was discharged by the Guarantor or Guarantors making such paymentsGuarantor.

Appears in 1 contract

Samples: Guaranty (DITECH HOLDING Corp)

Continuation and Reinstatement, etc. (a) Each Guarantor further agrees that its guaranty under this Article 10 Guaranty hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of any Obligation is rescinded or must otherwise be restored by the Agent, the Issuing Bank or the Lenders any Secured Party upon the bankruptcy or reorganization of the Borrower or a Guarantor, or otherwise. In furtherance of the provisions of this Article 109, and not in limitation of any other right which the Agent, the Issuing Bank or the Lenders any Secured Party may have at law or in equity against the Borrower, a Guarantor or any other Person by virtue hereof, upon failure of the Borrower to pay any Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice or otherwise, each Guarantor hereby promises to and will, upon receipt of written demand by the Agent on behalf of itself, the Issuing Bank and/or the Lendersany Secured Party, forthwith pay or cause to be paid to the Administrative Agent for the benefit of itself, the Issuing Bank and/or the Lenders Secured Parties (as applicable) in cash an amount equal to the unpaid amount of all the Obligations with interest thereon at a rate of interest equal to the rate specified in Section 2.9(a) hereof, and thereupon the Administrative Agent shall assign such Obligation, together with all security interests, if any, then held by the Administrative Agent in respect of such Obligation, to the Guarantors making such payment; such assignment to be subordinate and junior to the rights of the Administrative Agent on behalf of itself, the Issuing Bank and the Lenders Secured Parties with regard to amounts payable by the Borrower in connection with the remaining unpaid Obligations (including interest accruing on and after the filing of any petition in bankruptcy or of reorganization of an obligor whether or not post filing interest is allowed in such proceeding) and to be pro tanto to the extent to which the Obligation in question was discharged by the Guarantor or Guarantors making such payments.

Appears in 1 contract

Samples: Guaranty and Pledge Agreement (Ventas Inc)

Continuation and Reinstatement, etc. (a) Each Guarantor further agrees that its guaranty under this Article 10 Guaranty hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of any Obligation is rescinded or must otherwise be restored by the any Agent, the Issuing Bank Bank, any Lender or the Lenders any other Secured Party upon the bankruptcy or reorganization of the Borrower or a Guarantor, or otherwise. In furtherance of the provisions of this Article 109, and not in limitation of any other right which the any Agent, the Issuing Bank Bank, any Lender or the Lenders any other Secured Party may have at law or in equity against the Borrower, a Guarantor or any other Person by virtue hereof, upon failure of the Borrower to pay any Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice or otherwise, each Guarantor hereby promises to and will, upon receipt of written demand by the Agent on behalf of itselfany Agent, the Issuing Bank and/or the LendersBank, any Lender or any other Secured Party, forthwith pay or cause to be paid to the Administrative Agent for the benefit of itself, the Issuing Bank and/or the Lenders Secured Parties (as applicable) in cash an amount equal to the unpaid amount of all the Obligations with interest thereon at a rate of interest equal to the rate specified in Section 2.9(a2.13(a) hereof, and thereupon the Administrative Agent shall assign such Obligation, together with all security interests, if any, then held by the Administrative Agent in respect of such Obligation, to the Guarantors making such payment; such assignment to be subordinate and junior to the rights of the Administrative Agent on behalf of itself, the Issuing Bank and the Lenders Secured Parties with regard to amounts payable by the Borrower in connection with the remaining unpaid Obligations (including interest accruing on and after the filing of any petition in bankruptcy or of reorganization of an obligor whether or not post filing interest is allowed in such proceeding) and to be pro tanto to the extent to which the Obligation in question was discharged by the Guarantor or Guarantors making such payments.

Appears in 1 contract

Samples: Genesis Healthcare Corp

Continuation and Reinstatement, etc. (a) Each Guarantor further agrees that its guaranty under this Article 10 hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of any Obligation is rescinded or must otherwise be restored by the Administrative Agent, the Issuing Fronting Bank or the Lenders upon the bankruptcy or reorganization of the a Borrower or a Guarantor, or otherwise. In furtherance of the provisions of this Article 109, and not in limitation of any other right which the Administrative Agent, the Issuing Fronting Bank or the Lenders may have at law or in equity against the Borrower, Borrowers or a Guarantor or any other Person by virtue hereof, upon failure of the Borrower Borrowers to pay any Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice or otherwise, each Guarantor hereby promises to and will, upon receipt of written demand by the Administrative Agent on behalf of itself, the Issuing Bank and/or the Lenders, forthwith pay or cause to be paid to the Administrative Agent for the benefit of itself, the Issuing Bank and/or the Lenders (as applicable) in cash an amount equal to the unpaid amount of all the Obligations with interest thereon at a rate of interest equal to the rate specified in Section 2.9(a2.7(a) hereof, and thereupon the Administrative Agent shall assign such Obligation, together with all security interests, if any, then held by the Administrative Agent in respect of such Obligation, to the Guarantors making such payment; such assignment to be subordinate and junior to the rights of the Administrative Agent on behalf of itself, the Issuing Bank and the Lenders with regard to amounts payable by the Borrower Borrowers in connection with the remaining unpaid Obligations and to be pro tanto to the extent to which the Obligation in question was discharged by the Guarantor or Guarantors making such payments.

Appears in 1 contract

Samples: And Pledge Agreement (Trimark Holdings Inc)

Continuation and Reinstatement, etc. (a) Each Guarantor further agrees that its guaranty under this Article 10 hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of any Obligation is rescinded or must otherwise be restored by any of the Agent, the Issuing Bank or the Lenders Secured Parties upon the bankruptcy or reorganization of the a Borrower or a Guarantor, or otherwise. In furtherance of the provisions of this Article 109, and not in limitation of any other right which the Agent, the Issuing Bank or the Lenders Secured Parties may have at law or in equity against the a Borrower, a Guarantor or any other Person by virtue hereof, upon failure of the Borrower Borrowers to pay any Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice or otherwise, each Guarantor hereby promises to and will, upon receipt of written demand by the Administrative Agent on behalf of itself, the Issuing Bank and/or the LendersSecured Parties, forthwith pay or cause to be paid to the Administrative Agent for the benefit of itself, the Issuing Bank and/or the Lenders (as applicable) Secured Parties in cash an amount equal to the unpaid amount of all the of its Obligations with interest thereon at a rate of interest equal to the rate specified in Section 2.9(a) 2.7 hereof, and thereupon the Administrative Agent shall assign such Obligation, together with all security interests, if any, then held by the Administrative Agent in respect of such Obligation, to the Guarantors making such payment; such assignment to be subordinate and junior to the rights of the Administrative Agent on behalf of itself, the Issuing Bank and the Lenders Secured Parties with regard to amounts payable by the Borrower Borrowers in connection with the remaining unpaid Obligations and to be pro tanto to the extent to which the Obligation in question was discharged by the Guarantor or Guarantors making such payments.

Appears in 1 contract

Samples: Guaranty and Pledge Agreement (Lions Gate Entertainment Corp /Cn/)

Continuation and Reinstatement, etc. (a) Each Guarantor further agrees that its guaranty under this Article 10 hereunder shall continue to be effective or be reinstated, as the case may be, if at any time paymentpayment of any Obligation, or any part thereof, of any Obligation is rescinded or must otherwise be restored by the Agent, the Issuing Bank Administrative Agent or the Lenders upon the bankruptcy or reorganization of the Borrower or a Guarantor, or otherwise. In furtherance of the provisions of this Article 109, and not in limitation of any other right which the Agent, the Issuing Bank Administrative Agent or the Lenders may have at law or in equity against the Borrower, a Guarantor or any other Person by virtue hereof, upon failure of the Borrower to pay any Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice or otherwise, each Guarantor hereby promises to and will, upon receipt of written demand by the Administrative Agent on behalf of itself, itself and/or any of the Issuing Bank and/or the Lendersother Secured Parties, forthwith pay or cause to be paid to the Administrative Agent (for the benefit of itself, the Issuing Bank itself and/or the Lenders (Secured Parties, as applicable) in cash an amount equal to the unpaid amount of all the such unpaid Obligations with interest thereon from the due date at a rate of interest equal to the rate specified in Section 2.9(a) hereof2.5(a), and thereupon the Administrative Agent shall assign such Obligation, together with all security interests, if any, then held by the Administrative Agent in respect of such Obligation, to the Guarantor or Guarantors making such payment; such assignment to be subordinate and junior to the rights of the Administrative Agent (on behalf of itself, the Issuing Bank and the Lenders Secured Parties) with regard to amounts payable by the Borrower in connection with the remaining unpaid Obligations and to be pro tanto to the extent to which the Obligation in question was discharged by the Guarantor or Guarantors making such payments.

Appears in 1 contract

Samples: Guaranty and Pledge Agreement (Lions Gate Entertainment Corp /Cn/)

Continuation and Reinstatement, etc. (a) Each Guarantor further agrees that its guaranty under this Article 10 hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of any Obligation is rescinded or must otherwise be restored by the Administrative Agent, the Issuing Bank or the Lenders upon the bankruptcy or reorganization of the a Borrower or a Guarantor, or otherwise. In furtherance of the provisions of this Article 109, and not in limitation of any other right which the Administrative Agent, the Issuing Bank or the Lenders may have at law or in equity against the a Borrower, a Guarantor or any other Person by virtue hereof, upon failure of the Borrower Borrowers to pay any Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice or otherwise, each Guarantor hereby promises to and will, upon receipt of written demand by the Administrative Agent on behalf of itself, the Issuing Bank and/or the Lenders, forthwith pay or cause to be paid to the Administrative Agent for the benefit of itself, the Issuing Bank and/or the Lenders (as applicable) in cash an amount equal to the unpaid amount of all the Obligations with interest thereon at a rate of interest equal to the rate specified in Section 2.9(a2.7(a) hereof, and thereupon the Administrative Agent shall assign such Obligation, together with all security interests, if any, then held by the Administrative Agent in respect of such Obligation, to the Guarantors making such payment; such assignment to be subordinate and junior to the rights of the Administrative Agent on behalf of itself, the Issuing Bank and the Lenders with regard to amounts payable by the Borrower Borrowers in connection with the remaining unpaid Obligations and to be pro tanto to the extent to which the Obligation in question was discharged by the Guarantor or Guarantors making such payments.

Appears in 1 contract

Samples: Harvey Entertainment Co

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