Primary Guarantor definition
Examples of Primary Guarantor in a sentence
The Borrower may designate any of its Subsidiaries (other than a Primary Guarantor) as Unrestricted Subsidiaries from time to time in compliance with the provisions of this Section 6.
The Administrative Agent (or its counsel) shall have received (i) this Agreement executed and delivered by each party hereto, (ii) the Primary Guarantee, executed and delivered by each Primary Guarantor and (iii) the Supplemental Guarantee, executed and delivered by each Supplemental Guarantor.
The Primary Guarantor represents that its payment obligations under the Qualifying NL Holdco Notes rank at least pari passu with claims of all its other unsecured and unsubordinated creditors, except for obligations mandatorily preferred by law applying to companies generally.
Each Compliance Certificate referred to above shall be signed by a duly authorised officer of the Parent Guarantor and (in the case of each Compliance Certificate from the Borrower and the Primary Guarantor) by a duly authorised officer of the Borrower or the Primary Guarantor (as appropriate).
Such Person and its Affiliates may accept deposits from, lend money to, own securities of, act as the financial advisor or in any other advisory capacity for, and generally engage in any kind of business with, the Primary Guarantor or any Subsidiary or other Affiliate thereof as if such Person were not the Administrative Agent or the Collateral Agent hereunder and without any duty to account therefor to the Lenders.
No proceedings have been instituted or are pending against any Group Member or, to the knowledge of the Primary Guarantor, are threatened, alleging any such infringement.
The Primary Guarantor shall have delivered a Borrowing Base Certificate dated as of the Closing Date.
No Obligor (other than the Parent Guarantor and the Primary Guarantor) shall incur any Debt to the extent that, after giving effect to such incurrence, such Debt could reasonably be expected to have a Material Adverse Effect provided that Debt which is permitted in accordance with the terms of Clause 20 (Financial Covenants) shall not be restricted by this Clause 21.15.
No representation, warranty or other statement by the Seller or the Shareholder herein, contains or will contain an untrue statement of material fact, or omits to state a material fact necessary to make the statements contained herein or therein not misleading.
Notwithstanding the foregoing, for purposes of determining compliance with any covenant (including the computation of any financial covenant) contained herein, Indebtedness of the Primary Guarantor and its Subsidiaries shall be deemed to be carried at 100% of the outstanding principal amount thereof, and the effects of FASB ASC 825 and FASB ASC 470-20 on financial liabilities shall be disregarded.