Existing Guarantee definition

Existing Guarantee the Amended and Restated Guaranty, dated as of July 8, 2009, by the Company Borrower in favor of U.S. Bank National Association, as amended by the Amendment of Guaranty, dated as of June 29, 2011.

Existing Guarantee means any security which was provided to the Municipality in lieu of a Deposit, prior to the Effective Date, including without limitation, any guarantee, Financial Guarantee, suretyship, or any similar such document, which remains legally enforceable;

Existing Guarantee means a guarantee under the pre-amended Act, that applied to the obligations of an entity immediately before the commencement, and includes a guarantee made under the Local Bodies’ Loans Guarantee Act 1923 if it applied to the obligations of an entity immediately before the commencement.

Examples of Existing Guarantee in a sentence

• All terms, conditions, agreements, covenants and representations and warranties contained in the Existing Guarantee and Collateral Agreement remain in full force and effect, except as expressly amended herein.

• Each Grantor party to the Existing Guarantee and Collateral Agreement affirms its duties and obligations under the terms and conditions of the Existing Guarantee and Collateral Agreement, and agrees that its obligations outstanding under the Existing Guarantee and Collateral Agreement, as amended and restated as of the date hereof by this Agreement, remain in full force and effect and are hereby ratified, reaffirmed and confirmed.

• Notwithstanding an Existing Guarantee, the Municipality is not obliged to call up or present an Existing Guarantee for payment and may resort to other means available to it in law to recover outstanding debt.

• Where any requirement set out in the third paragraph is not complied with, section 522.1 does not apply in respect of the disposition.

• The CFO may, on written application, permit a person to substitute a Financial Guarantee or an Existing Guarantee with a new Financial Guarantee either from the same guarantor or a different guarantor, provided there is no risk to the Municipality.

More Definitions of Existing Guarantee

Existing Guarantee means the parent company guarantee dated 11 May 2022 provided by the Seller in respect of the Facility Agreement.

Existing Guarantee means any Guarantee provided by any Group Company, including but not limited to any Guarantee relating to or provided in respect of the Existing Debt Facilities or any other Existing Financial Indebtedness;

Existing Guarantee means the Guarantee and Indemnity from Seller to DVB dated as of December 3, 2013, which was entered into in connection with the $44 Million Facility.

Existing Guarantee means the guarantee and indemnity dated 11 May 2022 in relation to, amongst other things, the Original Loan Agreement made by the Outgoing Guarantor in favour of the Security Trustee.

Existing Guarantee means (i) any Guarantee outstanding on the Closing Date, to the extent set forth on SCHEDULE 8.02 and (ii) any Guarantee that constitutes a renewal, extension or replacement of an Existing Guaranty, but only if (A) at the time such Guarantee is entered into and immediately after giving effect thereto, no Default would exist, (B) such Guarantee is binding only on the obligor or obligors under the Guarantee so renewed, extended or replaced, (C) the principal amount of the obligations guaranteed by such Guarantee does not exceed the principal amount of the obligations guaranteed by the Guarantee so renewed, extended or replaced plus any premium, "make-whole" amounts and penalties actually paid on the Indebtedness Guaranteed thereby and all reasonable fees and expenses payable in connection with such renewal, extension or replacement and (D) the obligations guaranteed by such Guarantee bear interest at a rate per annum not exceeding the rate borne by the obligations guaranteed by the Guarantee so renewed, extended or replaced except for any increase that is commercially reasonable at the time of such increase.

Existing Guarantee in respect of each Guaranteed Lease, the obligations of the relevant Guarantor under the terms of such Guaranteed Lease;

Existing Guarantee means the guarantee and indemnity granted by the Existing Guarantor in favour of the Lender dated 8 December 2010. 1.1.3 “Existing Shares Charge” means the first priority deed of charge over of all the issued shares of the Borrower granted by the Existing Chargor in favour of the Lender dated 22 January 2018. 1.1.4 “First Effective Date” means the date on which the Lender confirms to the Security Parties in writing substantially in the form set out in Schedule 1 that all of the conditions referred to in Clause 2.1 have been satisfied, which confirmation the Lender shall be under no obligation to give if a Default shall have occurred. 1.1.5 “New Chargor” means Oil Tankers Investments Inc., a corporation incorporated according to the law of the Xxxxxxxx Islands with registered address at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Xxxxxxxx Xxxxxxx XX 00000. 1.1.6 “New Guarantee” means the guarantee and indemnity to be granted by the New Guarantor in favour of the Lender. 1.1.7 “New Guarantor” means Dryships Inc., a corporation incorporated according to the law of the Xxxxxxxx Islands with registered address at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Xxxxxxxx Xxxxxxx XX 00000. 1.1.8 “New Shares Charge” means the first priority deed of charge of all the issued shares of the Borrower to be granted by the New Chargor in favour of the Lender.