Guaranty or Guaranteed definition

Guaranty or Guaranteed means any agreement, undertaking or arrangement by which the Company or any of its Subsidiaries, VIALOG or VIALOG Merger Subsidiary, as the case may be, guarantees, endorses or otherwise becomes or is liable, directly or indirectly, upon any Indebtedness of any other Person including without limitation the payment of amounts drawn down by beneficiaries of letters of credit (other than by endorsements of negotiable instruments for deposit or collection in the ordinary course of business). The amount of the obligor's obligation under any Guaranty will be deemed to be the outstanding amount (or maximum permitted amount, if larger) of the Indebtedness directly or indirectly guaranteed thereby (subject to any limitation set forth therein).
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Guaranty or Guaranteed means any agreement, undertaking or arrangement by which a Party guarantees, endorses or otherwise becomes or is liable, directly or indirectly, contingently or otherwise, upon any Indebtedness of any other Person including without limitation the payment of amounts drawn down by beneficiaries of letters of credit (other than by endorsements of negotiable instruments for deposit or collection in the ordinary course of business). The amount of the obligor's obligation under any Guaranty shall be deemed to be the outstanding amount (or maximum permitted amount, if larger) of the Indebtedness directly or indirectly guaranteed thereby (subject to any limitation set forth therein).
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Examples of Guaranty or Guaranteed in a sentence

  • Each Pledgor is familiar with, and has independently reviewed books and records regarding, the financial condition of Borrower and is familiar with the value of any and all Collateral intended to be created as security for the Guaranty or Guaranteed Obligations; provided, however, neither Pledgor is relying on such financial condition or the Collateral as an inducement to enter into this Agreement.

  • Seller shall pay the cost of a Title Guaranty or Guaranteed Certificate of Title and Purchaser shall pay the difference, if any.

  • Guaranty or Guaranteed shall mean any agreement, undertaking or arrangement by which a Party guarantees, endorses or otherwise becomes or is liable, directly or indirectly, contingently or otherwise, upon any Indebtedness of any other Person including without limitation the payment of amounts drawn down by beneficiaries of letters of credit (other than by endorsements of negotiable instruments for deposit or collection in the ordinary course of business).