Common use of Guarantees by Restricted Subsidiaries Clause in Contracts

Guarantees by Restricted Subsidiaries. Each existing Restricted Subsidiary (other than the Issuer (for so long as it remains the Issuer)) will be a Guarantor. The Company is permitted to cause any Unrestricted Subsidiary to be a Guarantor. If the Issuer, the Company or any of its Restricted Subsidiaries acquires or creates a Restricted Subsidiary after the Issue Date, such Restricted Subsidiary shall execute a guarantee substantially in the form included in Exhibit A, execute a supplemental indenture in the form of Exhibit B, and deliver an Opinion of Counsel to the Trustee to the effect that the supplemental indenture has been duly authorized, executed and delivered by the new Restricted Subsidiary and constitutes a valid and binding obligation of the new Restricted Subsidiary, enforceable against the new Restricted Subsidiary in accordance with its terms (subject to customary exceptions).

Appears in 3 contracts

Samples: Indenture (Hovnanian Enterprises Inc), Indenture (Hovnanian Enterprises Inc), Indenture (Hovnanian Enterprises Inc)

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Guarantees by Restricted Subsidiaries. Each existing Restricted Subsidiary (other than the Issuer (for so long as it remains the Issuer)) will be a Guarantor. The Company is permitted to cause any Unrestricted Subsidiary to be a Guarantor. If the Issuer, the Company or any of its Restricted Subsidiaries acquires or creates a Domestic Restricted Subsidiary (other than any Foreign-Owned Parent Holding Company) after the Issue Date, such the new Domestic Restricted Subsidiary must provide a Note Guaranty and become a party to the Collateral Agreements (and pledge its assets to the extent they would constitute Collateral) until such Guaranty is released pursuant to Section 10.09. A Restricted Subsidiary required to provide a Note Guaranty shall execute a guarantee substantially in the form included in Exhibit A, execute a supplemental indenture substantially in the form of Exhibit B, and deliver an Opinion of Counsel to the Trustee to the effect that the supplemental indenture has been duly authorized, executed and delivered by the new Restricted Subsidiary and constitutes a valid and binding obligation of the new Restricted Subsidiary, enforceable against the new Restricted Subsidiary in accordance with its terms (subject to customary exceptions).

Appears in 2 contracts

Samples: Intercreditor Agreement (Century California, LLC), Supplemental Indenture (Century Aluminum Co)

Guarantees by Restricted Subsidiaries. Each existing Restricted Subsidiary (other than the Issuer (for so long as it remains the Issuer)) and any Excluded Subsidiary) will be a Guarantor. The Company is permitted to cause any Unrestricted Subsidiary to be a Guarantor. If the Issuer, the Company or any of its Restricted Subsidiaries acquires or creates a Restricted Subsidiary (other than any Excluded Subsidiary) after the Issue Date, such Restricted Subsidiary shall execute a guarantee substantially in the form included in Exhibit A, execute a supplemental indenture in the form of Exhibit B, and deliver an Opinion of Counsel to the Trustee to the effect that the supplemental indenture has been duly authorized, executed and delivered by the new Restricted Subsidiary and constitutes a valid and binding obligation of the new Restricted Subsidiary, enforceable against the new Restricted Subsidiary in accordance with its terms (subject to customary exceptions).

Appears in 1 contract

Samples: Indenture (Hovnanian Enterprises Inc)

Guarantees by Restricted Subsidiaries. Each existing Restricted Subsidiary (other than the Issuer Borrower (for so long as it remains the Issuer)Borrower) and any Excluded Subsidiary) will be a GuarantorGuarantor on the Closing Date by executing this Agreement. The Company Holdings is permitted to cause any Unrestricted Subsidiary to be a Guarantor. If the IssuerBorrower, the Company Holdings or any of its Restricted Subsidiaries acquires or creates a Restricted Subsidiary (other than any Excluded Subsidiary) after the Issue Closing Date, such Restricted Subsidiary shall execute a supplemental guarantee substantially in the form included in Exhibit A, execute a supplemental indenture in the form of Exhibit BK hereto, and deliver an Opinion of Counsel to the Trustee Administrative Agent to the effect that the such supplemental indenture guarantee has been duly authorized, executed and delivered by the new Restricted Subsidiary and constitutes a valid and binding obligation of the new Restricted Subsidiary, enforceable against the new Restricted Subsidiary in accordance with its terms (subject to customary exceptions).

Appears in 1 contract

Samples: Credit Agreement (Hovnanian Enterprises Inc)

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Guarantees by Restricted Subsidiaries. Each existing Restricted Subsidiary (other than the Issuer (for so long as it remains the Issuer)) and any Excluded Subsidiary) will be a Guarantor. The Company is permitted to cause any Unrestricted Subsidiary to be a Guarantor. If the Issuer, the Company or any of its Restricted Subsidiaries acquires or creates a Restricted Subsidiary after the Issue Date, such Restricted Subsidiary shall execute a guarantee substantially in the form included in Exhibit A, execute a supplemental indenture in the form of Exhibit B, and deliver an Opinion of Counsel to the Trustee to the effect that the supplemental indenture has been duly authorized, executed and delivered by the new Restricted Subsidiary and constitutes a valid and binding obligation of the new Restricted Subsidiary, enforceable against the new Restricted Subsidiary in accordance with its terms (subject to customary exceptions).

Appears in 1 contract

Samples: Indenture (Hovnanian Enterprises Inc)

Guarantees by Restricted Subsidiaries. Each existing Restricted Subsidiary (other than the Issuer Borrower (for so long as it remains the Issuer)Borrower) and any Excluded Subsidiary) will be a GuarantorLoan Party. The Company Holdings is permitted to cause any Unrestricted Subsidiary to be a GuarantorLoan Party. If the IssuerBorrower, the Company Holdings or any of its Restricted Subsidiaries acquires or creates a Restricted Subsidiary (other than any Excluded Subsidiary) after the Issue Closing Date, such Restricted Subsidiary shall execute a supplemental guarantee substantially in consistent with the form included in Exhibit A, execute a supplemental indenture in the form of Exhibit Bexisting Guarantee, and deliver an Opinion of Counsel to the Trustee Administrative Agent to the effect that the supplemental indenture guarantee has been duly authorized, executed and delivered by the new Restricted Subsidiary and constitutes a valid and binding obligation of the new Restricted Subsidiary, enforceable against the new Restricted Subsidiary in accordance with its terms (subject to customary exceptions).

Appears in 1 contract

Samples: Credit Agreement (Hovnanian Enterprises Inc)

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