Common use of Guarantee Obligation Clause in Contracts

Guarantee Obligation. Neither the Borrower nor any Subsidiary or Foreign Subsidiary will create, incur, suffer to exist a Guarantee Obligation or otherwise become liable for any obligation of any other Person or any Subsidiary, except: (1) the endorsement of commercial paper for deposit or collection in the ordinary course of business, (2) leases by the Borrower or a Subsidiary or Foreign Subsidiary incurred in the ordinary course of business, and (3) a guaranty obligation consented to by the Banks as a part of a Permitted Acquisition in accordance with Paragraph 7.12.

Guarantee Obligation. Neither the No Borrower nor any Subsidiary or Foreign Subsidiary will create, incur, suffer to exist a Guarantee Obligation or otherwise become liable for any obligation of any other Person or any Subsidiary, except: (1) the endorsement of commercial paper for deposit or collection in the ordinary course of business, and (2) leases by the Borrower or a Subsidiary or Foreign Subsidiary incurred in the ordinary course of business, and (3) a guaranty obligation consented to by the Banks as a part of a Permitted Acquisition in accordance with Paragraph 7.12.

Guarantee Obligation. Neither the Borrower nor any Subsidiary or Foreign Subsidiary will create, incur, suffer to exist a Guarantee Obligation or otherwise become liable for any obligation of any other Person or any Subsidiary, except: except (1i) the endorsement of commercial paper for deposit or collection in the ordinary course of business, business and (2ii) leases by Guarantee Obligations of the Borrower or a Subsidiary or Foreign Subsidiary incurred in the ordinary course of business, and (3) a guaranty obligation consented with respect to by the Banks as a part Funded Debt of a Permitted Acquisition in accordance with Paragraph 7.12Subsidiary.