Common use of Springing Guarantees Clause in Contracts

Springing Guarantees. If any Subsidiary is required to issue a guaranty in favor of the lenders under the Revolving Credit Facility or under any other credit facility of the Company ranking equally with the Notes, such Subsidiary will also be required to issue a guaranty for the benefit of the holders of the Notes, on substantially the same terms and conditions as the guaranty issued to such other lenders. The Company shall cause each Subsidiary to execute the guaranty (a “Subsidiary Guaranty”) in the form of a supplemental indenture in form and substance satisfactory to the Trustee and shall provide an Opinion of Counsel to the Trustee in form and substance satisfactory to the Trustee in connection therewith. Any guarantee so issued by any Subsidiary will terminate upon the earlier of (i) the termination of any guaranty issued in favor of the lenders under the Revolving Credit Facility or under any other credit facility ranking equal with the Notes or (ii) that Subsidiary ceasing to constitute a Subsidiary as a result of one or more transactions that do no violate this Indenture.