Fund Guarantor definition
Examples of Fund Guarantor in a sentence
Administrative Agent (on behalf of the Lenders) may exercise remedies against each Fund Guarantor and its property separately, whether or not Administrative Agent exercises remedies against the other Fund Guarantors or their properties.
Each Fund Guarantor further agrees that no Person or Governmental Authority shall have any right to request any return or reimbursement of funds from Administrative Agent or the Lenders in connection with monies received under the Loan Documents.
The obligations of each Fund Guarantor hereunder are absolute and unconditional, irrespective of the value, genuineness, validity, regularity or enforceability of any of the Loan Documents or any other agreement or instrument referred to therein, to the fullest extent permitted by applicable Law, irrespective of any other circumstance whatsoever which might otherwise constitute a legal or equitable discharge or defense (other than payment or performance) of a surety or any Fund Guarantor.
Each Fund Guarantor acknowledges and agrees that its obligations hereunder are secured in accordance with the terms of the Collateral Documents and that the Lenders may exercise their remedies thereunder in accordance with the terms thereof.
During the continuance of a Cash Control Event, each Fund Guarantor hereby subordinates to the Fund Guaranteed Obligations all debts, liabilities and other obligations, whether direct, indirect, primary, secondary, several, joint and several or otherwise, and irrespective of whether such debts, liabilities and obligations be evidenced by note, contract, open account, book entry or otherwise, owing to such Fund Guarantor by any other Qualified Borrower.
Each Fund Guarantor waives any and all notice of the creation, renewal, extension or accrual of any of the Fund Guaranteed Obligations and notice of or proof of reliance by Administrative Agent or any Lender on this Fund Borrower Guaranty or acceptance of this Fund Borrower Guaranty.
The Lenders have been induced to make the Loans to Qualified Borrowers in part based upon the assurances by each Fund Guarantor that each Fund Guarantor desires that the obligations under this Fund Borrower Guaranty be honored and enforced as separate obligations of each Fund Guarantor, should Administrative Agent and the Lenders desire to do so.
After the indefeasible payment in full in cash of the Fund Guaranteed Obligations (other than any part of the Fund Guaranteed Obligations that represents contingent contractual indemnities) and the termination of the Commitments, each Fund Guarantor shall be entitled to exercise against any other Qualified Borrower all such rights of reimbursement, subrogation, contribution, indemnification and offset, and all such other claims, to the fullest extent permitted by law.
The Borrower shall make each payment required to be made by it hereunder (whether pursuant to Section 2.01, 2.02 or 2.08 or otherwise) directly to the Fund Guarantor entitled to receive such payment.
If any Fund Guarantor shall obtain payment for any amounts due under Sections 2.01 and 2.02 in a greater proportion than as set forth in the preceding sentence, such Fund Guarantor agrees to ratably share such payment with the other Fund Guarantors.