Common use of New Subsidiaries Guarantors Clause in Contracts

New Subsidiaries Guarantors. (a) Requirement to Become Guarantor. Within 30 days of any Person (other than an Excluded Subsidiary) becoming a Material Subsidiary after the Effective Date, the Borrower shall deliver to the Agent each of the following items, each in form and substance satisfactory to the Agent: (a) an Accession Agreement executed by such Material Subsidiary and (b) the items that would have been delivered under Sections 5.1.(a)(v) and (x) through (xiii) if such Material Subsidiary had been one on the Effective Date; provided, however, promptly (and in any event within 5 Business Days) upon any Excluded Subsidiary ceasing to be subject to the restriction which prevented it from delivering an Accession Agreement pursuant to this Section, such Subsidiary shall comply with the provisions of this Section. The Agent shall send to each Lender copies of each of the foregoing items once the Agent has received all such items with respect to a Material Subsidiary.

Appears in 2 contracts

Samples: Credit Agreement (Hospitality Properties Trust), Credit Agreement (Senior Housing Properties Trust)

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New Subsidiaries Guarantors. (a) Requirement to Become Guarantor. Within 30 days of any Person (other than an Excluded Subsidiary) becoming a Material Significant Subsidiary after the Effective Date, the Borrower shall deliver to the Agent each of the following items, each in form and substance satisfactory to the Agent: (ai) an Accession Agreement executed by such Material Significant Subsidiary and (bii) the items that would have been delivered under Sections 5.1.(a)(v5.1.(a)(iv) and (xix) through (xiiixii) if such Material Significant Subsidiary had been one on the Effective Date; provided, however, promptly (and in any event within 5 Business Days30 days) upon any Excluded Subsidiary ceasing to be subject to the restriction which prevented it from delivering an Accession Agreement pursuant to this Section, such Subsidiary shall comply with the provisions of this Section. The Agent shall send to each Lender copies of each of the foregoing items once the Agent has received all such items with respect to a Material Significant Subsidiary.

Appears in 2 contracts

Samples: Credit Agreement (Post Apartment Homes Lp), Credit Agreement (Post Apartment Homes Lp)

New Subsidiaries Guarantors. (a) Requirement to Become Guarantor. Within 30 days of any Person (other than an Excluded Subsidiary) becoming a Material Subsidiary after the Effective Date, the Borrower shall deliver to the Agent each of the following items, each in form and substance satisfactory to the Agent: (a) an Accession Agreement executed by such Material Subsidiary and (b) the items that would have been delivered under Sections 5.1.(a)(v5.1.(a)(iv) and (xix) through (xiiixii) if such Material Subsidiary had been one on the Effective Date; provided, however, promptly (and in any event within 5 Business Days) upon any Excluded Subsidiary ceasing to be subject to the restriction which prevented it from delivering an Accession Agreement pursuant to this Section, such Subsidiary shall comply with the provisions of this Section. The Agent shall send to each Lender copies of each of the foregoing items once the Agent has received all such items with respect to a Material Subsidiary.

Appears in 1 contract

Samples: Credit Agreement (HRPT Properties Trust)

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New Subsidiaries Guarantors. (a) Requirement to Become Guarantor. Within 30 10 days of any Person (other than an Excluded Subsidiary) becoming a Material Subsidiary after the Effective Date, the Borrower shall deliver to the Agent each of the following items, each in form and substance satisfactory to the Agent: (ai) an Accession Agreement executed by such Material Subsidiary and (bii) the items that would have been delivered under Sections 5.1.(a)(v5.1.(a)(iv) through (viii) and (x) through (xiii) if such Material Subsidiary had been one on the Effective Date; provided, however, promptly (and in any event within 5 Business Days10 days) upon any Excluded Subsidiary ceasing to be subject to the restriction which prevented it from becoming a Guarantor on the Effective Date or delivering an Accession Agreement pursuant to this Section, as the case may be, such Subsidiary shall comply with the provisions of this Section. The Upon a Lender's written request, the Agent shall send to each such Lender copies of each of the foregoing items once the Agent has received all such items with respect to a Material Subsidiary.

Appears in 1 contract

Samples: Credit Agreement (St Joe Co)

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