Guarantor Paying Agent definition
Examples of Guarantor Paying Agent in a sentence
For an unfurnished property, the amount cannot exceed one month’s rent, excluding service charges.
Such amounts shall be paid by the Note Guarantors to the Guarantor Paying Agent at least one Business Day prior to the date each scheduled payment is due, in immediately available funds; provided, that the Note Guarantors’ obligation to pay such amounts under the Notes and their Subsidiary Guarantees is not discharged until such amounts are delivered to the Trustee in accordance with the next sentence hereof.
Each of the Note Guarantors agrees that for so long as any Obligations under the Notes, the Indenture or any Subsidiary Guarantee shall remain outstanding, it shall maintain a Guarantor Paying Agent in accordance with Article 11 of the Indenture.
The Guarantor Paying Agent is not an Affiliate of the Issuer or any Subsidiary thereof.
Any notices or other communications to the Company or any Subsidiary Guarantor, Paying Agent, Registrar, Securities Custodian, transfer agent or the Trustee required or permitted hereunder shall be in writing, and shall be sufficiently given if made by hand delivery, by telex, by telecopier or registered or certified mail, postage prepaid, return receipt requested, addressed as follows: if to the Company or any Subsidiary Guarantor: HMH Properties, Inc.
Each of the Note Guarantors hereby appoints and authorizes the Guarantor Paying Agent to act as its paying agent hereunder and under the Note Documents, with such powers as are specifically delegated to the Guarantor Paying Agent by the terms of this Indenture and such other powers as are reasonably incidental thereto.
Each of the Note Guarantors agrees that for so long as any Obligations under the Notes, this Indenture or any Subsidiary Guarantee shall remain outstanding, it shall maintain a Guarantor Paying Agent in accordance with this Article 11.
The Guarantor Paying Agent shall be entitled to rely upon any written certification, notice or other communication (including, without limitation, any telecopy or e-mail) reasonably believed by it to be genuine and correct and to have been signed or sent by or on behalf of the proper Person or Persons, and upon advice of legal counsel, independent accountants and other experts selected by the Guarantor Paying Agent.
Unless otherwise specified as contemplated by Section 3.01, the Trustee shall be the Company’s and the Guarantor Paying Agent.
The Guarantor Paying Agent shall remit the amount of the respective scheduled payments to the Trustee on the day such payments are due.