Common use of Limitations on Issuances of Guarantees of Indebtedness Clause in Contracts

Limitations on Issuances of Guarantees of Indebtedness. (a) The Issuer shall not permit any of its Restricted Subsidiaries, directly or indirectly, to Guarantee or pledge any assets to secure the payment of any other Indebtedness of the Issuer or any other Restricted Subsidiary (other than a Guarantee or pledge by a Foreign Restricted Subsidiary securing the payment of Indebtedness of another Foreign Restricted Subsidiary) unless either (1) such Restricted Subsidiary is a Guarantor or (2) such Restricted Subsidiary simultaneously executes and delivers a supplemental indenture (in the form set forth in Exhibit D providing for the Guarantee of the payment of the Notes by such Restricted Subsidiary, which Guarantee shall be senior to or pari passu with such Subsidiary’s Guarantee of or pledge to secure such other Indebtedness), a supplement to the Intercreditor Agreement and applicable Security Documents.

Appears in 3 contracts

Samples: Indenture (Nortek Inc), Indenture (Aigis Mechtronics, Inc.), Indenture (Mammoth-Webco, Inc.)

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Limitations on Issuances of Guarantees of Indebtedness. (a) The Issuer shall not permit any of its Restricted Subsidiaries, directly or indirectly, to Guarantee or pledge any assets to secure the payment of any other Indebtedness of the Issuer or any other Restricted Subsidiary (other than a Guarantee or pledge by a Foreign Restricted Subsidiary securing the payment of Indebtedness of another Foreign Restricted Subsidiary) unless either (1) such Restricted Subsidiary is a Guarantor or (2) such Restricted Subsidiary simultaneously executes and delivers a supplemental indenture (in the form set forth in Exhibit D G providing for the Guarantee of the payment of the Notes by such Restricted Subsidiary, which Guarantee shall be senior or equal to or pari passu with such Subsidiary’s Guarantee of or pledge to secure such other Indebtedness), a supplement to the Intercreditor Agreement and applicable Security Documents.. The preceding paragraph shall not be applicable to any Guarantee of any Restricted Subsidiary:

Appears in 2 contracts

Samples: Intercreditor Agreement (Headwaters Inc), Intercreditor Agreement (Headwaters Inc)

Limitations on Issuances of Guarantees of Indebtedness. (a) The Issuer shall not permit any of its Restricted Subsidiaries, directly or indirectly, to Guarantee or pledge any assets to secure the payment of any other Indebtedness of the Issuer or any other Restricted Subsidiary (other than a Guarantee or pledge by a Foreign Restricted Subsidiary securing the payment of Indebtedness of another Foreign Restricted Subsidiary) unless either (1) such Restricted Subsidiary is a Guarantor or (2) such Restricted Subsidiary simultaneously executes and delivers a supplemental indenture (in the form set forth in Exhibit D H providing for the Guarantee of the payment of the Notes by such Restricted Subsidiary, which Guarantee shall be senior to or pari passu with such Subsidiary’s Guarantee of or pledge to secure such other Indebtedness), a supplement to the Intercreditor Agreement and applicable Security Documents.

Appears in 1 contract

Samples: Indenture (Broan-NuTone LLC)

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Limitations on Issuances of Guarantees of Indebtedness. (a) The Issuer shall not permit any of its Restricted Subsidiaries, directly or indirectly, to Guarantee or pledge any assets to secure the payment of any other Indebtedness of the Issuer or any other Restricted Subsidiary (other than a Guarantee or pledge by a Foreign Restricted Subsidiary securing the payment of Indebtedness of another Foreign Restricted Subsidiary) unless either (1) such Restricted Subsidiary is a Guarantor or (2) such Restricted Subsidiary simultaneously executes and delivers a supplemental indenture (in the form set forth in Exhibit D G) providing for the Guarantee of the payment of the Notes by such Restricted Subsidiary, which Guarantee shall be senior to or pari passu equal with such Subsidiary’s Guarantee of or pledge to secure such other Indebtedness), along with supplements, a supplement to the Intercreditor Agreement and applicable Security Documents.. The preceding paragraph shall not be applicable to any Guarantee of any Restricted Subsidiary:

Appears in 1 contract

Samples: Intercreditor Agreement (Erickson Air-Crane Inc.)

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