WAGES, GUARANTEES, PREMIUMS AND RATES Clause Examples for Any Agreement

Related to WAGES, GUARANTEES, PREMIUMS AND RATES

• Guarantees, etc To endorse or guarantee the payment of any notes or other obligations of any person; to make contracts of guaranty or suretyship, or otherwise assume liability for payment thereof; and to mortgage and pledge the Trust property or any part thereof to secure any of or all such obligations;

• Indebtedness; Guarantees The Borrower shall not create, incur, assume or suffer to exist any Indebtedness other than Indebtedness permitted under the Transaction Documents. The Borrower shall incur no Indebtedness secured by the Collateral other than the Obligations. The Borrower shall not assume, guarantee, endorse or otherwise be or become directly or contingently liable for the obligations of any Person by, among other things, agreeing to purchase any obligation of another Person, agreeing to advance funds to such Person or causing or assisting such Person to maintain any amount of capital, other than as expressly permitted under the Transaction Documents.

• Continuing Guarantee This guarantee is a continuing guarantee and will extend to the ultimate balance of sums payable by any Obligor under the Finance Documents, regardless of any intermediate payment or discharge in whole or in part.

• Limitation on Additional Indebtedness (a) So long as any of the Debt Securities of any series are outstanding, the Company shall not create, incur, assume or issue, directly or indirectly, guarantee or in any manner become, directly or indirectly, liable for or with respect to the payment of ("Incur"), or suffer to exist, any Indebtedness, except for Indebtedness falling within at least one of the following categories (collectively, "Permitted Indebtedness"): (i) Indebtedness under the Debt Securities of any series and the Indenture with respect to such Debt Securities; (ii) Indebtedness of the Company outstanding on the Issue Date after giving effect to the issuance of the Debt Securities of any series; (iii) Acquired Indebtedness permitted to be incurred pursuant to Article 4; (iv) purchase money Indebtedness in an aggregate principal amount not in excess of U.S.$1,000,000 annually; (v) any replacements, renewals, refinancings and extensions of the Indebtedness described in clauses (i) through (iv) hereof; provided that any such replacement, renewal, refinancing and extension (A) shall not provide for any mandatory redemption, amortization or sinking fund requirement in an amount greater than or at a time prior to the amounts and times specified in the Indebtedness being replaced, renewed, refinanced or extended, (B) shall not exceed the principal amount (plus accrued interest and prepayment premium, if any) of the Indebtedness being replaced, renewed, refinanced or extended, and (C) in the case of any Indebtedness replacing, renewing, refinancing or extending Indebtedness which is pari passu to the Debt Securities, any such replacing, renewing, refinancing or extending Indebtedness is made pari passu to the Debt Securities or subordinated to the Debt Securities, and, in the case of any Indebtedness replacing, renewing, refinancing or extending Indebtedness is subordinated to the Debt Securities to the same extent as the Indebtedness being replaced, renewed, refinanced or extended; and (vi) Indebtedness not otherwise permitted to be incurred pursuant to clauses (i) through (v) above, which, together with any other outstanding Indebtedness incurred pursuant to this clause (vi), has an aggregate principal amount not in excess of U.S.$10,000,000 at any time outstanding. (b) The Company will not, directly or indirectly, in any event incur any Indebtedness that by its terms (or by the terms of any agreement governing such Indebtedness) is subordinated in right of payment to any other Indebtedness of the Company unless such Indebtedness is also by its terms (or by the terms of any agreement governing such Indebtedness) made expressly subordinate in right of payment to the Debt Securities pursuant to subordination provisions that are substantively identical to the subordination provisions of such Indebtedness (or such agreement) that are most favorable to the holders of any other Indebtedness of the Company (other than obligations preferred by statute or operation of law).

• Additional Subsidiary Guarantees If the Partnership or any of its Restricted Subsidiaries acquires or creates another Restricted Subsidiary after the Issue Date that guarantees any Indebtedness of either of the Issuers, then that newly acquired or created Restricted Subsidiary must become a Subsidiary Guarantor and execute a supplemental indenture satisfactory to the Trustee and deliver an Opinion of Counsel to the Trustee within 10 Business Days of the date on which it was acquired or created. If a Restricted Subsidiary that is not then a Subsidiary Guarantor guarantees Indebtedness of either of the Issuers or any other Restricted Subsidiary, such Restricted Subsidiary shall execute and deliver a Guarantee. The Partnership will not permit any of its Restricted Subsidiaries, directly or indirectly, to guarantee or pledge any assets to secure the payment of any other Indebtedness of either Issuer unless such Restricted Subsidiary simultaneously executes and delivers a supplemental indenture providing for the guarantee of the payment of the Notes by such Restricted Subsidiary, which Guarantee shall be senior to or pari passu with such Restricted Subsidiary's guarantee of or pledge to secure such other Indebtedness, unless such other Indebtedness is Senior Debt, in which case the Guarantee of the Notes may be subordinated to the guarantee of such Senior Debt to the same extent as the Notes are subordinated to such Senior Debt. Notwithstanding the foregoing, any Guarantee of a Restricted Subsidiary that was incurred pursuant to this paragraph shall provide by its terms that it shall be automatically and unconditionally released upon the release or discharge of the guarantee which resulted in the creation of such Restricted Subsidiary's Subsidiary Guarantee, except a discharge or release by, or as a result of payment under, such guarantee.