Business Guarantees definition

Business Guarantees means all guarantees, letters of credit, bonds, sureties and other credit support or assurances provided by Seller or any of its Affiliates (other than the Purchased Subsidiaries) in support of any obligation of the Business that are listed in Schedule 1.01(b).

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Business Guarantees is defined in Section 7.3.

Business Guarantees means all guarantees, corporate or parent company guarantees, letters of credit, letters of comfort, escrows, bonds (including both bid and performance bonds), sureties, security agreements and other credit support or assurances, certificates of insurance and insurance endorsements however styled that provide third parties access to insurance as an “Additional Insured” or “Named Insured,” provided by Seller or any of its Subsidiaries (other than the Transferred Entities or the JV Entities) in support of any obligation of, or related to, the Business, the Transferred Entities, the JV Entities, the Transferred Assets or the Assumed Liabilities.

Examples of Business Guarantees in a sentence

On or as promptly as practicable following the date hereof, but in no event later than the Separation Time, Photowatt shall obtain replacements for such Business Guarantees or will either terminate the business transactions or programs of the member of the Photowatt Group supported or facilitated by such Business Guarantees or arrange for itself or one of its Affiliates to be substituted as the primary obligor thereto (collectively, the “Substitute Guarantees”).
It is understood that none of such Business Guarantees shall continue after the Separation Time.
Without limiting the foregoing, neither Purchaser nor any of its Affiliates shall extend or renew any Contract containing or underlying a Business Guarantee unless, prior to or concurrently with such extension or renewal, Purchaser or its Affiliates are substituted in all respects for Seller and its Affiliates, and Seller and its Affiliates are fully released, in respect of all Liabilities under such Business Guarantees.
Buyer shall, and hereby agrees to, indemnify and hold harmless Parent and its Subsidiaries from and after the Closing for any amounts required to be paid under any Business Guarantees.
Buyer recognizes that Parent and certain of its Affiliates have provided credit support to the Business, the Purchased Assets or the Transferred Subsidiaries pursuant to guarantees, letters of credit, bonds, sureties and other credit support or assurances provided by Parent or its Affiliates in support of any Asset or Assumed Liability (the “Business Guarantees”) and that Parent may enter into additional Business Guarantees after the Agreement Date in the ordinary course of business.

More Definitions of Business Guarantees

Business Guarantees has the meaning set forth in Section 5.15.

Business Guarantees has the meaning set forth in Section 2.7(a).

Business Guarantees have the meanings specified in Section 9.9(b).

Business Guarantees means all guarantees, letters of credit, comfort letters, bonds, sureties and other similar credit support or assurances provided by Seller or any of its Affiliates (other than any Purchased Subsidiary Company) in support of any obligation of the Business or any Purchased Subsidiary Company, a true, complete and correct list of which as of the date hereof is set forth on Schedule 1.01(c). If and to the extent the assignment or transfer to Buyer or its Affiliates (including, after the Closing Date, the Purchased Companies) of any Lease included in the Leased Real Property pursuant hereto does not completely and irrevocably release Seller and all the Retained Subsidiaries from all obligations and Liabilities under such Lease or requires that Seller or any of its Affiliates enter into a new guarantee, letter of credit, comfort letter, bond, surety and other credit support or assurance in respect of such Lease, such unreleased obligations, Liabilities, support or assurance shall be referred to herein as “Lease Guarantees” and shall be considered “Business Guarantees” hereunder. All Lease Guarantees shall be added to Schedule 1.01(c) as and when entered into.

Business Guarantees means all guarantees, letters of credit, letters of comfort, bonds (including customs, bid and performance bonds), sureties and other credit support or assurances provided by (i) any of the Retained Companies in support of any obligation of the Business or the Acquired Companies or (ii) any of the Acquired Companies in support of any obligation of the Retained Companies.

Business Guarantees means any guarantees, credit support, letters of credit, bonds, cash deposits or similar arrangements issued by or on behalf of Seller or any Seller Entity in order to support or facilitate the Business.

Business Guarantees means any performance, advance payment and retention bonds or guarantees, other guarantee obligations, letters of credit and other similar arrangements required to be issued by or on behalf of a Business Company with respect to any obligation relating to the Business and third party indemnities, performance, advance payment and retention bonds or guaranties, other guarantee obligations, letters of intent and other similar arrangements of third parties for which a Business Company has a reimbursement obligation and listed on Schedule 3.20.