Collateral Guarantors definition
Examples of Collateral Guarantors in a sentence
In connection with any release pursuant to this Section 13.04(a), the Issuer and the Collateral Guarantors shall be permitted to take any action in connection therewith consistent with such release including, without limitation, the filing of UCC termination statements and the filing of releases with the United States Patent and Trademark Office and the United States Copyright Office.
Each Subsidiary of any Loan Party that is required to become a party to this Agreement pursuant to Section 8.10 of the Loan Agreement (“Additional Collateral, Guarantors and Grantors”) shall become a Grantor and a Guarantor for all purposes of this Agreement upon execution and delivery by such Subsidiary of an Assumption Agreement.
Notwithstanding anything to the contrary herein, in no circumstance shall an Excluded Subsidiary become a Guarantor unless designated as a Guarantor by the Borrower in its sole discretion and in no circumstance shall QCF, Embarq and their respective Subsidiaries be required to become Collateral Guarantors.
Each Borrower also undertakes with each Creditor Party to comply with, and will ensure that the Collateral Guarantors comply in relation to their Ships, with, the following provisions of this Clause 14 at all times until the last day of the Security Period except as the Agent, with the authority of the Majority Lenders, may otherwise permit (such permission not to be unreasonably withheld in the case of Clause 14.13(b)).
The Borrower also undertakes with each Creditor Party to comply with the following provisions of this Clause 13, and ensure that the Guarantors and the Collateral Guarantors comply with the same, at all times until the last day of the Security Period except as the Agent may, with the authority of the Majority Lenders, otherwise permit.
Notwithstanding this Section 7.14, the Lenders agree that the Liens in favor of the Lenders shall be released and the Collateral Guarantors may be released from their guaranty obligations hereunder in accordance with the terms and conditions of Section 7.13 and 8.5 (and the Lenders hereby authorize the Collateral Agent to execute and deliver such documentation necessary to evidence such releases).
The Borrower and the Collateral Guarantors shall take such action as requested by the Collateral Agent, at the Borrower's expense, to ensure the Lenders have a first priority Lien in all assets of the Borrower and the Collateral Guarantors, subject only to Permitted Liens.
Neither the Borrower nor any Collateral Guarantor will contract, create, incur, assume or permit to exist any Lien with respect to any of its property or assets of any kind (whether real or personal, tangible or intangible), whether now owned or after acquired, except for Permitted Liens; provided that this Section 8.2 shall not apply to Collateral Guarantors that have been released from their guaranty obligations hereunder pursuant to Sections 7.13 or 8.5.
Interest shall accrue on the Accounts from day to day and be calculated on the basis of actual days elapsed and a three hundred and sixty (360) day year and shall be credited to the Accounts at such times as the Bank and the Borrower and (as the case may be) the Collateral Guarantors shall agree.
The Borrower and Collateral Guarantors ratify the Collateral Guarantee that was specially and expressly established in favor of the Lender under the terms of the Loan Agreement, and, therefore, they guarantee all the obligations agreed to by the Borrower in favor of the Lender, up to the total liquidation of the amount owed.