Subsidiary Guaranty definition
Examples of Subsidiary Guaranty in a sentence
Notwithstanding the foregoing, any Subsidiary that is a Foreign Subsidiary will not be required to be a Guarantor to the extent the provision of such Subsidiary Guaranty by such Subsidiary may cause any adverse tax consequences to the Company.
No Bank Product Provider that obtains the benefits of Sections 2.11 and 7.2, any guaranty by virtue of the provisions hereof or of the Subsidiary Guaranty shall have any right to notice of any action or to consent to, direct or object to any action hereunder or under any other Loan Document other than in its capacity as a Lender and, in such case, only to the extent expressly provided in the Loan Documents.
The Company shall have caused each Guarantor as of the Closing Date to execute and deliver to the Agent the Subsidiary Guaranty.
Notwithstanding the foregoing terms of this Section, only Collateral proceeds and payments under the Subsidiary Guaranty (as opposed to ordinary course principal, interest and fee payments hereunder) shall be applied to obligations under any Bank Product.
Nothing contained herein to the contrary shall release, discharge, modify, change or affect the original liability of the Subsidiary Guarantors under the Subsidiary Guaranty or the Pledge Agreement.