Other Required Guarantors Clause Samples
The "Other Required Guarantors" clause establishes the obligation for additional parties, beyond the primary guarantor, to provide guarantees under an agreement. Typically, this clause specifies which entities or individuals must also act as guarantors, such as affiliates, subsidiaries, or key stakeholders, and outlines the conditions under which their guarantees are required. Its core practical function is to broaden the scope of financial assurance for the beneficiary, thereby reducing the risk of default by ensuring that multiple parties are responsible for fulfilling the obligations if the primary obligor fails to do so.
Other Required Guarantors. If at any time any Subsidiary of the Company which is not a Subsidiary Guarantor guaranties any Indebtedness of the Company other than the Indebtedness hereunder, the Company shall cause such Subsidiary to deliver to the Administrative Agent an executed Supplement to become a Subsidiary Guarantor and, if requested by the Administrative Agent or delivered under any other Transaction Facility (or any Permitted Refinancing thereof), appropriate corporate resolutions, opinions and other documentation in form and substance reasonably satisfactory to the Administrative Agent in connection therewith, such Supplement and other documentation to be delivered to the Administrative Agent concurrently with the delivery of the guaranty of such other Indebtedness.
Other Required Guarantors. If at any time any Subsidiary of the Company which is not a Subsidiary Guarantor guaranties any Indebtedness of the Company other than the Indebtedness hereunder, the Company shall cause such Subsidiary to deliver to the Administrative Agent, as applicable, the documents referred to in subsection (b) above.
Other Required Guarantors. (i) If at any time any Subsidiary of the Company which is not a Subsidiary Guarantor guaranties any Indebtedness of the Company other than the Indebtedness hereunder, the Company shall cause such Subsidiary to deliver to the Administrative Agent, as applicable, the documents referred to in subsection (b) above.
(ii) The Company shall ensure that any of its Subsidiaries which is a Subsidiary Guarantor shall, as soon as possible after becoming a Subsidiary Guarantor (and to the extent it has not already done so), execute a Subsidiary Guaranty and deliver an executed counterpart thereof to the Administrative Agent.
Other Required Guarantors. Borrower shall cause each Other Required Guarantor to execute and deliver to Administrative Agent, within thirty (30) days after the execution of any guaranty required by Section 6.3, (a) certified copies of such Other Required Guarantor’s Constituent Documents, together with a good standing certificate, from the Secretary of State of the state of its incorporation, and (b) an officer’s certificate of such Other Required Guarantor certifying (i) its Constituent Documents, (ii) resolutions of its Board of Directors approving and authorizing the execution, delivery, and performance of the Loan Documents to be executed by such Other Required Guarantor, and (iii) signatures and incumbency of its officers executing the Loan Documents to be executed by such Other Required Guarantor.