Security Guarantors definition

Security Guarantors means the Subsidiaries of the Company executing this First Supplemental Indenture and any other Subsidiary of the Company that becomes a Security Guarantor in accordance with the provisions of the Indenture, in each case until the Security Guarantee of such Subsidiary has been released in accordance with the Indenture.
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Security Guarantors. American General Corporation (the "AGC Guarantor") and American International Group, Inc. (the "AIG Guarantor"). At the time of issuance, the Securities constituted trust preferred capital securities of the AGC Guarantor and the Guarantor Debentures were solely obligations of the AGC Guarantor. The AGC Guarantor is now a wholly owned subsidiary of the AIG Guarantor which as of November 2001 has guaranteed the AGC Guarantor's obligations with respect to the Securities. The Security Issuer will be considered an Eligible Issuer and the Securities shall not be considered Disqualified Securities so long as the AGC Guarantor is a wholly owned subsidiary (direct or indirect) of an Eligible Issuer. So long as the AIG Guarantor is the parent company of the AGC Guarantor, the AIG Guarantor will be considered the "Security Issuer" for purposes of determining whether the Security Issuer is an Eligible Issuer and whether the Securities are Disqualified Securities.
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Examples of Security Guarantors in a sentence

  • The recitals contained herein and in the Securities and the Security Guarantees, except the Trustee's certificate of authentication, shall be taken as the statements of the Company and the Security Guarantors, as the case may be, and neither the Trustee nor any Authenticating Agent assumes any responsibility for their correctness.

  • Each Security shall have an executed Security Guarantee from each of the Security Guarantors endorsed thereon substantially in the form of Exhibit B hereto.

  • Each of the Security Guarantors has duly authorized the execution and delivery of this Indenture to provide a Security Guarantee of the Securities and of certain of the obligations of the Company hereunder.

  • No director, officer, employee, incorporator or stockholder of the Company or any Security Guarantor, as such, will have any liability for any obligations of the Company or the Security Guarantors under the Securities, this Indenture, the Security Guarantees or for any claim based on, in respect of, or by reason of, such obligations or their creation.

  • Each of the Security Guarantors and the Company will, and the Company will cause each of the Security Guarantors to, ensure at all times that, unless otherwise permitted by this Indenture, each Security Guarantee will remain in full force and effect and shall not be subordinated by written agreement in right of payment to any indebtedness or other obligations of the Security Guarantors, unless required by applicable law.

  • Each Security Guarantor that makes a payment or distribution under a Security Guarantee will be entitled, upon payment in full of all Guaranteed Obligations under the Securities, to a contribution from each other Security Guarantor in an amount equal to such other Security Guarantor’s pro rata portion of such payment, based on the respective net assets of all the Security Guarantors at the time of such payment determined in accordance with GAAP.

  • This Security is initially entitled to the benefits of the certain Security Guarantees of the Security Guarantors and may thereafter be entitled to certain other Security Guarantees made for the benefit of the Holders.

  • No director, officer, employee, incorporator or stockholder of the Company or any Security Guarantor, as such, will have any liability for any obligations of the Company or the Security Guarantors under the Securities, this Indenture, the Security Guarantees, or for any claim based on, in respect of, or by reason of, such obligations or their creation.

  • The Trustee in its individual or any other capacity may become the owner or pledgee of Securities of any series and may otherwise deal with the Company, any Security Guarantors or any of their respective Affiliates with the same rights it would have if it were not Trustee.

  • All things necessary to make this Indenture a valid agreement of the Company and each of the Security Guarantors, in accordance with its terms, have been done.