Intermediate Guarantor definition

Intermediate Guarantor means any Subsidiary Guarantor that is a direct or indirect parent of the Issuer.

Intermediate Guarantor has the meaning assigned to in the preamble to this Indenture.

Intermediate Guarantor has the meaning assigned to such term in the introductory paragraph hereof.

Examples of Intermediate Guarantor in a sentence

• If an Event of Default under the bankruptcy provisions described in Section 6.01(a)(7) of the Indenture with respect to the Issuer, any Intermediate Guarantor or any Subsidiary Guarantor occurs, the unpaid principal of and interest on all the Notes will become immediately due and payable without any declaration or other act on the part of the Trustee or any Holders.

• If an Event of Default (other than an Event of Default under the bankruptcy provisions described in Section 6.01(a)(7) of the Indenture with respect to the Issuer, any Intermediate Guarantor or any Subsidiary Guarantor) occurs and is continuing, the Trustee or the Holders of at least 25% in aggregate principal amount of the outstanding Notes by notice to the Issuer may declare the principal of and accrued but unpaid interest on all the Notes to be due and payable.

• The Borrower shall take all action necessary to prevent the Borrower and Intermediate Guarantor from being, and will take no action which would have the effect of causing either of the Borrower or Intermediate Guarantor to be, treated as an association taxable as a corporation or otherwise to be taxed as an entity for federal income tax purposes.

• The Borrower, Intermediate Guarantor and their respective Subsidiaries shall not engage in any material line of business substantially different from those lines of business described in Section 7.02(e) or any business substantially related or incidental to such lines of business.

• Contaminant levels below Action Level 1 are deemed as posing no risk to the environment if the dredged sediment is disposed of at sea.

More Definitions of Intermediate Guarantor

Intermediate Guarantor means ONEOK Partners Intermediate Limited Partnership, a Delaware limited partnership. “Intermediate Guarantor Partnership Agreement” means that certain Second Amended and Restated Agreement of Limited Partnership of Intermediate Guarantor dated as of May 17, 2006, as amended. “Investment” means, as to any Person, any direct or indirect acquisition or investment by such Person, whether by means of (a) the purchase or other acquisition of capital stock or other securities of another Person, (b) a loan, advance or capital contribution to, Guarantee or assumption of debt of, or purchase or other acquisition of any other debt or equity participation or interest in, another Person, including any partnership or joint venture interest in such other Person, or (c) the purchase or other acquisition (in one transaction or a series of transactions) of assets of another Person that constitute a business unit. For purposes of covenant compliance, the amount of any Investment shall be the amount actually invested, without adjustment for subsequent increases or decreases in the value of such Investment. “IRS” means the United States Internal Revenue Service. “Joint Venture” means an entity, other than a Subsidiary, in which the Borrower or a Subsidiary owns an equity interest. “Laws” means, collectively, all international, foreign, Federal, state and local statutes, treaties, rules, guidelines, regulations, ordinances, codes and administrative or judicial precedents or authorities, including the interpretation or administration thereof by any Governmental Authority charged with the enforcement, interpretation or administration thereof, and all applicable administrative orders, directed 16188091_7 14

Intermediate Guarantor shall have the meaning set forth in the preamble hereto.