Common use of Relationship to Borrower Clause in Contracts

Relationship to Borrower. The value of the consideration received and to be received by Guarantor in respect of the Debt is reasonably worth at least as much as the liability and obligation of Guarantor incurred or arising under this Guaranty and the Loan Documents. Guarantor has determined that such liability and obligation may reasonably be expected to substantially benefit Guarantor directly or indirectly (or if Guarantor is not a natural person, Guarantor's board of directors, general partners or other governors have made that determination). Guarantor has had full and complete access to the underlying papers relating to the Debt and all other papers executed by any Obligor or any other Person in connection with the Debt, has reviewed them and is fully aware of the meaning and effect of their contents. Guarantor is fully informed of all circumstances which bear upon the risks of executing this Guaranty and which a diligent inquiry would reveal. Guarantor has adequate means to obtain from Borrower on a continuing basis information concerning Borrower's financial condition, and is not depending on Agent or any Lender to provide such information, now or in the future. Guarantor agrees that neither Agent nor any Lender shall have any obligation to advise or notify Guarantor or to provide Guarantor with any data or information. The execution and delivery of this Guaranty is not a condition precedent (and neither Agent nor any Lender has in any way implied that the execution of this Guaranty is a condition precedent) to Agent's or any Lender's making, extending or modifying any loan to Guarantor or to any other financial accommodation to or for Guarantor. Borrower is a wholly-owned Subsidiary of Guarantor; and Guarantor's guaranty pursuant to this Guaranty reasonably may be expected to benefit, directly or indirectly, Guarantor; and Guarantor has determined that this Guaranty is necessary and convenient to the conduct, promotion and attainment of the business of Guarantor and Borrower.

Appears in 1 contract

Samples: Loan Agreement (Natco Group Inc)

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Relationship to Borrower. The value of the consideration received and to be received by Guarantor in respect of the Debt is reasonably worth at least as much as the liability and obligation of Guarantor incurred or arising under this Guaranty and the Loan Documents. Guarantor has determined that such liability and obligation may reasonably be expected to substantially benefit Guarantor directly or indirectly (or if Guarantor is not a natural person, Guarantor's board of directors, general partners or other governors have made that determination). Guarantor has had full and complete access to the underlying papers relating to the Debt and all other papers executed by any Obligor or any other Person in connection with the Debt, has reviewed them and is fully aware of the meaning and effect of their contents. Guarantor is fully informed of all circumstances which bear upon the risks of executing this Guaranty and which a diligent inquiry would reveal. Guarantor has adequate means to obtain from Borrower on a continuing basis information concerning Borrower's financial condition, and is not depending on Agent or any Lender to provide such information, now or in the future. Guarantor agrees that neither Agent nor any Lender shall have any obligation to advise or notify Guarantor or to provide Guarantor with any data or information. The execution and delivery of this Guaranty is not a condition precedent (and neither Agent nor any Lender has in any way implied that the execution of this Guaranty is a condition precedent) to Agent's or any Lender's making, extending or modifying any loan to Guarantor or to any other financial accommodation to or for Guarantor. Borrower is a wholly-owned Subsidiary of Guarantor; and Guarantor's guaranty pursuant to this Guaranty reasonably may be expected to benefit, directly or indirectly, Guarantor; and Guarantor has determined that this Guaranty is necessary and convenient to the conduct, promotion and attainment of the business of Guarantor and Borrower.

Appears in 1 contract

Samples: Loan Agreement (Natco Group Inc)

Relationship to Borrower. The value of the consideration received and to be received by each Guarantor in respect of the Debt is reasonably worth at least as much as the liability and obligation of such Guarantor incurred or arising under this Guaranty and the Loan Documentsall related papers and arrangements. Each Guarantor has determined that such liability and obligation may reasonably be expected to substantially benefit such Guarantor directly or indirectly (or if any Guarantor is not a natural person, such Guarantor's ’s board of directors, general partners or other governors have made that determination). Each Guarantor has had full and complete access to the underlying papers relating to the Debt and all other papers executed by any Obligor or any other Person in connection with the Debt, has reviewed them and is fully aware of the meaning and effect of their contents. Each Guarantor is fully informed of all circumstances which bear upon the risks of executing this Guaranty and which a diligent inquiry would reveal. Each Guarantor has adequate means to obtain from Borrower on a continuing basis information concerning Borrower's ’s financial condition, and is not depending on Administrative Agent or any Lender to provide such information, now or in the future. Each Guarantor agrees that neither Administrative Agent nor any Lender shall have any obligation to advise or notify any Guarantor or to provide any Guarantor with any data or information. The execution and delivery of this Guaranty is not a condition precedent (and neither Administrative Agent nor any Lender has in any way implied that the execution of this Guaranty is a condition precedent) to Administrative Agent's ’s or any Lender's ’s making, extending or modifying any loan to any Guarantor or to any other financial accommodation to or for any Guarantor. Borrower is a wholly-owned Subsidiary of Guarantor; and Guarantor's guaranty pursuant to this Guaranty reasonably may be expected to benefit, directly or indirectly, Guarantor; and Guarantor has determined that this Guaranty is necessary and convenient to the conduct, promotion and attainment of the business of Guarantor and Borrower.

Appears in 1 contract

Samples: Credit Agreement (Tetra Technologies Inc)

Relationship to Borrower. The value of the consideration received and to be received by Guarantor in respect of the Debt is reasonably worth at least as much as the liability and obligation of Guarantor incurred or arising under this Guaranty and the Loan Documents. Guarantor has determined that such liability and obligation may reasonably be expected to substantially benefit Guarantor directly or indirectly (or if Guarantor is not a natural person, Guarantor's board of directors, general partners or other governors have made that determination). Guarantor has had full and complete access to the underlying papers relating to the Debt and all other papers executed by any Obligor or any other Person in connection with the Debt, has reviewed them and is fully aware of the meaning and effect of their contents. Guarantor is fully informed of all circumstances which bear upon the risks of executing this Guaranty and which a diligent inquiry would reveal. Guarantor has adequate means to obtain from Borrower on a continuing basis information concerning Borrower's financial condition, and is not depending on Agent or any Lender to provide such information, now or in the future. Guarantor agrees that neither Agent nor any Lender shall have any obligation to advise or notify Guarantor or to provide Guarantor with any data or information. The execution and delivery of this Guaranty is not a condition precedent (and neither Agent nor any Lender has in any way implied that the execution of this Guaranty is a condition precedent) to Agent's or any Lender's making, extending or modifying any loan to Guarantor or to any other financial accommodation to or for Guarantor. Borrower is a wholly-owned Subsidiary of Guarantor; and Guarantor's guaranty pursuant to this Guaranty reasonably may be expected to benefit, directly or indirectly, Guarantor; and Guarantor has determined that this Guaranty is necessary and convenient to the conduct, promotion and attainment of the business of Guarantor and Borrower. NATCO HOLDINGS, INC., a Delaware corporation By:/s/ WILLXXX X. XXXXXX, XXI --------------------------- Willxxx X. Xxxxxx, XXI, Senior Vice President 9 120 GUARANTY (TEAM) THIS GUARANTY ("Guaranty") dated as of June 30, 1997 is executed and delivered by TOTAL ENGINEERING SERVICES TEAM, INC., a Louisiana corporation ("Guarantor"), to TEXAS COMMERCE BANK NATIONAL ASSOCIATION, as Agent (in such capacity herein called "Agent") under the Loan Agreement (hereinafter defined).

Appears in 1 contract

Samples: Loan Agreement (Natco Group Inc)

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Relationship to Borrower. The value of the consideration received and to be received by Guarantor in respect of the Debt is reasonably worth at least as much as the liability and obligation of Guarantor incurred or arising under this Guaranty and the Loan Documents. Guarantor has determined that such liability and obligation may reasonably be expected to substantially benefit Guarantor directly or indirectly (or if Guarantor is not a natural person, Guarantor's board of directors, general partners or other governors have made that determination). Guarantor has had full and complete access to the underlying papers relating to the Debt and all other papers executed by any Obligor or any other Person in connection with the Debt, has reviewed them and is fully aware of the meaning and effect of their contents. Guarantor is fully informed of all circumstances which bear upon the risks of executing this Guaranty and which a diligent inquiry would reveal. Guarantor has adequate means to obtain from Borrower on a continuing basis information concerning Borrower's financial condition, and is not depending on Agent or any Lender to provide such information, now or in the future. Guarantor agrees that neither Agent nor any Lender shall have any obligation to advise or notify Guarantor or to provide Guarantor with any data or information. The execution and delivery of this Guaranty is not a condition precedent (and neither Agent nor any Lender has in any way implied that the execution of this Guaranty is a condition precedent) to Agent's or any Lender's making, extending or modifying any loan to Guarantor or to any other financial accommodation to or for Guarantor. Borrower TOTAL ENGINEERING SERVICES TEAM, INC., a Louisiana corporation By: /s/ WILLXXX X. XXXXXX, XXI ----------------------------------- Willxxx X. Xxxxxx, XXI, Senior Vice President THIS GUARANTY ("Guaranty") dated as of June 30, 1997 is executed and delivered by TEST, INC., a wholly-owned Subsidiary of Louisiana corporation ("Guarantor; and Guarantor's guaranty pursuant "), to this Guaranty reasonably may be expected to benefitTEXAS COMMERCE BANK NATIONAL ASSOCIATION, directly or indirectly, Guarantor; and Guarantor has determined that this Guaranty is necessary and convenient to as Agent (in such capacity herein called "Agent") under the conduct, promotion and attainment of the business of Guarantor and BorrowerLoan Agreement (hereinafter defined).

Appears in 1 contract

Samples: Loan Agreement (Natco Group Inc)

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