Common use of New Guarantors Clause in Contracts

New Guarantors. In the event that the Borrower obtains, in accordance with the provisions of §9.15 hereof, the consent of the Required Lenders to create or acquire a new direct or indirect Subsidiary, such Subsidiary shall concurrently with such event, or as soon as practicable thereafter, execute and deliver to the Administrative Agent an instrument of joinder and accession, in form and substance satisfactory to the Administrative Agent and the Required Lenders, pursuant to which such newly-created or acquired Subsidiary shall join the Guaranty and, subject to §8.17, the applicable Security Documents, and shall accede to all of the rights and obligations of a Guarantor thereunder, and, pursuant thereto, shall, inter alia, guaranty the full payment and performance of the Obligations. Further, the Borrower and such Subsidiary shall execute and deliver to the Administrative Agent such other documentation as the Administrative Agent may reasonably request in furtherance of the intent of this §8.16, including, without limitation, an updated Schedule 7.19 and documentation of the type required to be supplied by the Borrower and initial Guarantors as a condition precedent to the initial Revolving Credit Loans made hereunder pursuant to §11 hereof.

New Guarantors. In the event that that, after the Closing Date, the Borrower obtains, in accordance with or any Guarantor acquires or initiates the provisions incorporation of §9.15 hereof, the consent a new wholly-owned Subsidiary of the Required Lenders to create or acquire a new direct or indirect SubsidiaryBorrower, such Subsidiary shall concurrently with such event, event or as soon as practicable thereafter, thereafter execute and deliver to the Administrative Agent an instrument of joinder and accession, in form and substance satisfactory to the Administrative Agent and the Required LendersBanks, pursuant to which such newly-created or acquired wholly-owned Subsidiary shall join the Guaranty and, subject to §8.17, the applicable Security Documentsthis Credit Agreement, and shall accede to all of the rights and obligations of a Guarantor hereunder and thereunder, and, pursuant thereto, thereto shall, inter aliaamong other things, guaranty the full complete payment and performance of the Guaranteed Obligations, make the waivers set forth herein (including, without limitation, those set forth in Section 29.6 hereof). Further, the Borrower and such Subsidiary shall execute and and/or deliver to the Administrative Agent such other documentation as the Administrative Agent may reasonably request in furtherance of the intent of this §8.16Section 29.9, including, without limitation, an updated Schedule 7.19 and documentation of the type required to be supplied by the Borrower and initial Guarantors as a condition precedent to the initial Revolving Credit Loans made hereunder pursuant to §11 Section 12 hereof.