Guarantor's Case definition
Guarantor's Case means one of the cases under chapter 11 of the Bankruptcy Code with respect to which one of the Guarantors is the debtor and the debtor-in-possession.
Guarantor's Case shall have the meaning provided in the recitals hereof.
Guarantor's Case as defined in the Recitals hereto.
Examples of Guarantor's Case in a sentence
The obligations of the Guarantors under the Guarantee (the "Guarantor Obligations") shall constitute allowed administrative expenses in each Guarantor's Case having priority over all other administrative expenses of the kinds specified in Sections 503(b) or 507(b) of the Bankruptcy Code and unsecured claims, other than Guarantor Carve-Out Expenses, and shall be paid as ordinary course expenses during each Guarantor's Case without notice, hearing or court approval.