Examples of Qualified Replacement Guarantor in a sentence
Notwithstanding anything to the contrary, the provisions of this Article 13 shall not apply to the transfer of Ownership Interests in Tenant if and so long as (i) the Ownership Interests in Tenant or Guarantor are publicly traded on a nationally recognized stock exchange, and (ii) after giving effect to such transfer, (A) Tenant continues to be Controlled by Guarantor or a Qualified Replacement Guarantor, and (B) the Guaranty remains in full force and effect.
This Guaranty is made and shall continue as to any and all Liabilities without regard to any liens or security interests in any collateral, the validity, effectiveness or enforceability of such liens or security interests, or the existence or validity of any other guaranties or rights of Lender against any other obligors (subject to Guarantor’s right to provide a Qualified Replacement Guarantor as set forth in the Loan Agreement).
Upon the delivery of the Guaranty from the Qualified Replacement Guarantor, subject to the satisfaction of the foregoing conditions,(a) the Qualified Replacement Guarantor shall become the “Guarantor” for all purposes under this Lease, and (b) the then- current Guarantor shall be automatically released from all liabilities and obligations thereafter arising under the Guaranty.
During any period in which Seller qualifies as a Qualified Replacement Guarantor, the financial reporting obligations described above shall be for the financial statements of Seller.
Seller shall be permitted at any time to substitute for previously provided Performance Assurance delivered pursuant to this Section replacement Performance Assurance in the form of a Guaranty of a Qualified Replacement Guarantor in the form set forth in Exhibit E, cash or a Letter of Credit, provided, that such substitute security is in an amount equal to the then-current amount of Delivery Term Security and otherwise meets the applicable provisions of this Section 8.2 and the Cover Sheet.