Definition of IRET Guarantors


IRET Guarantors means, jointly and severally, IRET Properties and IRET, Inc.
Sample 1

Examples of IRET Guarantors in a sentence

Agent acknowledges and agrees that any such deficiency may be funded by an unsecured loan from IRET Guarantors to the Borrower, which unsecured loan shall be evidenced by loan documentation acceptable to Agent in its sole discretion and will be subordinate to the Loan pursuant to a subordination agreement acceptable to Agent in its sole discretion.
IRET Guarantors or an Affiliate thereof shall at all times during the term of the Loan own at least 50.5 percent of the membership interests in Borrower.
Borrower will not, at any time create, incur, assume or suffer to exist any Indebtedness, except (a) Indebtedness under the Loan Documents; and/or (b) Indebtedness of Borrower in favor of an Affiliate (including, without limitation, Indebtedness of Borrower in favor of IRET Guarantors as contemplated by Section 4.27 of this Agreement), provided it is subordinated to the Obligations pursuant to an intercompany subordination agreement in form and substance satisfactory to Agent.