Subsidiary Guarantors definition
Examples of Subsidiary Guarantors in a sentence
This Guaranty together with the other Guarantor Documents embodies the entire, final agreement of each Subsidiary Guarantor with respect to the matters set forth herein and supersedes all prior or contemporaneous agreements and understandings of the Subsidiary Guarantors, verbal or written, relating to the subject matter hereof and thereof and shall not be amended as to any Subsidiary Guarantor except by written agreement of such Subsidiary Guarantor, the Administrative Agent and the Required Lenders.
The Subsidiary Guarantors agree among themselves that, in connection with payments made hereunder, each Subsidiary Guarantor shall have contribution rights against any other Subsidiary Guarantors party hereto as permitted under applicable Law.
The Company may, at its option, at any time, elect to have terminated the obligations of the Company with respect to Outstanding Notes and to have terminated all of the obligations of the Subsidiary Guarantors with respect to the Subsidiary Guarantees, as set forth in this Article XII, and elect to have either Section 1202 or Section 1203 be applied to all of the Outstanding Notes (the “Defeased Notes”), upon compliance with the conditions set forth in Section 1204.
The Guaranteed Parties, by their acceptance of this Guaranty, shall not have any obligations under this Guaranty to any Person other than the Subsidiary Guarantors, and such obligations shall be limited to those expressly stated herein.
Upon the Company’s exercise under Section 1201 of the option applicable to this Section 1202, the Company shall be deemed to have been released and discharged from its obligations with respect to the Defeased Notes and the Subsidiary Guarantors shall be deemed to have been released and discharged from their obligations with respect to the Subsidiary Guarantees on the date the relevant conditions set forth in Section 1204 are satisfied (hereinafter, “Defeasance”).