Parent Guarantee definition
Examples of Parent Guarantee in a sentence
Any term or provision of the Parent Guarantee to the contrary notwithstanding, the aggregate amount of the obligations guaranteed hereunder shall be reduced to the extent necessary to prevent such Parent Guarantee from violating or becoming voidable under applicable law relating to fraudulent conveyance or fraudulent transfer or similar laws affecting the rights of creditors generally.
If an Officer whose signature is on a Security or Parent Guarantee no longer holds that office at the time the Security is authenticated, the Security or Parent Guarantee, as the case may be, shall nevertheless be valid.
Upon the delivery by the Issuer to the Trustee of an Officer’s Certificate and an Opinion of Counsel to the effect that the transaction giving rise to the release of this Parent Guarantee was made by the Issuer in accordance with the provisions of this Indenture and the Securities, the Trustee shall execute any documents reasonably required in order to evidence the release of the Parent Guarantor from its obligations under this Parent Guarantee.
The Parent Guarantee shall be executed on behalf of the Parent Guarantor by any one of its chairman of its board of directors, president, vice presidents or other person duly authorized by the Parent Guarantor’s board of directors.
If any mutilated Security is surrendered to the Trustee, the Issuer shall execute a new Security of the same Series and of like tenor and principal amount and bearing a number not contemporaneously outstanding, upon which the Parent Guarantor shall execute the Parent Guarantee, and the Trustee shall authenticate and deliver such new Security in exchange for the Security surrendered.