Common use of Guaranteed Debt Clause in Contracts

Guaranteed Debt. The Borrower shall not (and shall not suffer or permit any of its Domestic Subsidiaries to) incur any Guaranteed Debt except: (a) by endorsement of instruments or items of payment for deposit to the general account of such Person; (b) for performance bonds or indemnities entered into in the ordinary course of business consistent with past practices; (c) unsecured Guaranteed Debt in respect of Debt permitted under Section 6.3(c), (d) or (f); (d) secured Guaranteed Debt in an amount not to exceed $20,000,000; (e) the Synnex Mexico Guarantee in an aggregate amount not to exceed $80,000,000 (or the equivalent amount of Pesos, based on a conversion rate determined immediately prior to the closing of the Synnex Mexico Loan Documents) (the maximum liability under the Synnex Mexico Guaranty at any time, the “Maximum Mex Guarantee”); provided that if, and for so long as, the commitments under the Synnex Mexico Loan Documents are less than $75,000,000, and the Maximum Mex Guarantee is less than $80,000,000, then Borrower may incur and maintain additional unsecured Guaranteed Debt guaranteeing Debt of Synnex Mexico in an aggregate amount not to exceed $80,000,000 less the then Maximum Mex Guarantee; provided that all provisions of this Agreement otherwise applicable to the Synnex Mexico Guarantee shall apply, mutatis mutandis, to such other unsecured Guarantee; (f) unsecured Guaranteed Debt in an amount not to exceed $100,000,000; (g) unsecured Guaranteed Debt in an amount not to exceed $20,000,000 with respect to Debt under an inventory line of credit provided by the Bank of Montreal to the Canadian Subsidiary; (h) the Canadian Subsidiary Securitization Guaranty; (i) unsecured Guaranteed Debt in an amount not to exceed $20,000,000 with respect to Debt provided by HSBC Bank Canada to the Canadian Subsidiary.

Guaranteed Debt. The Borrower shall not (and shall not suffer or permit any of its Domestic Subsidiaries to) incur any Guaranteed Debt except: (a) by endorsement of instruments or items of payment for deposit to the general account of such Person; (b) for performance bonds or indemnities entered into in the ordinary course of business consistent with past practices; (c) unsecured Guaranteed Debt in respect of Debt permitted under Section 6.3(c), (d) or (f); (d) existing secured Guaranteed Debt in an amount set forth on Part A of Schedule 6.6, not to exceed $20,000,000for any such Guaranteed Debt the respective amount set forth on such schedule for such Guaranteed Debt; (e) the Synnex Mexico Guarantee in an aggregate amount not to exceed $80,000,000 (or the equivalent amount of Pesos, based on a conversion rate determined immediately prior to the closing of the Synnex Mexico Loan Documents) (the maximum liability under the Synnex Mexico Guaranty at any time, the “Maximum Mex Guarantee”); provided that if, and for so long as, the commitments under the Synnex Mexico Loan Documents are less than $75,000,000, and the Maximum Mex Guarantee is less than $80,000,000, then Borrower may incur and maintain additional unsecured Guaranteed Debt guaranteeing Debt of Synnex Mexico in an aggregate amount not to exceed $80,000,000 less the then Maximum Mex Guarantee; provided that all provisions of this Agreement otherwise applicable to the Synnex Mexico Guarantee shall apply, mutatis mutandis, to such other unsecured Guarantee; (f) other unsecured Guaranteed Debt in an amount set forth on Part B of Schedule 6.6 not to exceed $100,000,000for any such Guaranteed Debt the respective amount set forth on such schedule for such Guaranteed Debt; (g) unsecured Guaranteed Debt in an amount not to exceed $20,000,000 with respect to Debt under an inventory line of credit provided by the Bank of Montreal to the Canadian Subsidiary;; and (h) the Canadian Subsidiary Securitization Guaranty; (i) unsecured Guaranteed Debt in an amount not to exceed $20,000,000 with respect to Debt provided by HSBC Bank Canada to the Canadian Subsidiary.