Substitute Guarantor definition

Substitute Guarantor means a Person who assumes the Guarantor’s obligations hereunder in accordance with the terms of Section 2.7 below and is either (a) a Person who satisfies the Rating Agencies’ requirements for a single purpose bankruptcy remote entity who has Provided Collateral or (b) a Person(s) with (i) a tangible net worth determined in accordance with the Accounting Principles of not less than Seven Hundred Fifty Million Dollars ($750,000,000) and (ii) unencumbered assets with a fair market value of not less than One Hundred Million Dollars (exclusive of any note, instrument, security or claim issued by, against or in any way dependent on the credit of, an Affiliate of Guarantor).
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Substitute Guarantor means a Person who assumes the Guarantor’s obligations hereunder in accordance with the terms of SECTION 2.7 below and is either (a) a Person who satisfies the Rating Agencies’ requirements for a single purpose bankruptcy remote entity who has Provided Collateral or (b) a Person(s) with (i) a tangible net worth determined in accordance with the Accounting Principles not less than Seven Hundred Fifty Million Dollars ($750,000,000) and (ii) unencumbered assets with a fair market value of not less than One Hundred Million Dollars (exclusive of any note, instrument, security or claim issued by, against or in any way dependent on the credit of, an Affiliate of Guarantor).
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Substitute Guarantor means any person or entity that executes and delivers a guarantee in the form of section 1.
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Examples of Substitute Guarantor in a sentence

  • The Gecko Substitute Guarantor and the Cordish Substitute Guarantor are sometimes hereinafter referred to as a Substitute Guarantor.

  • Upon the satisfaction of the foregoing conditions and the expiration of all applicable preference or similar periods, HPT shall deliver a release to the Departing Guarantor of its obligations hereunder and the Substitute Guarantor shall be deemed the "Guarantor" hereunder.

  • Upon the satisfaction of the foregoing conditions and the expiration of all applicable preference or similar periods, HPT shall deliver a release to the Departing Guarantor of its obligations hereunder and the Substitute Guarantor shall be deemed the “Guarantor” hereunder.

  • Provided the Substitute Guarantor’s Form 10-K is filed timely and is available for viewing on a web site maintained by the Securities and Exchange Commission, then Substitute Guarantor will have been deemed to satisfy this reporting requirement.

  • This Guaranty cannot be revoked by Guarantors and shall continue to be effective with respect to any of the Guarantor Obligations arising or created after any attempted revocation hereof, subject to the terms of this Guaranty, including the Guarantors’ right to assign the Guarantor Obligations to a Substitute Guarantor in accordance with Section 11 hereof.


More Definitions of Substitute Guarantor

Substitute Guarantor means Capital Product Partners L.P., a limited partnership formed in the Republic of the ▇▇▇▇▇▇▇▇ Islands whose registered office is at Trust Company Complex ▇▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇, the ▇▇▇▇▇▇▇▇ Islands;
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Substitute Guarantor means a Person that (a) has a net worth of not less than $100,000,000, and cash liquidity of not less than $10,000,000, (b) is organized under the laws of one of the United States, (c) is not subject to sovereign immunity, and (d) meets all other requirements of the Existing Lender under the Loan Documents in connection with the substitution of a guarantor under the Loan Documents.
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Substitute Guarantor shall have the meaning assigned to such term in Section 3.5(b) of this Agreement.
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Substitute Guarantor means a Person with (a) $250,000,000 in net worth and (b) $20,000,000 in liquidity, including for purposes of determination (i) availability under any existing lines of credit and (ii) outstanding capital commitments by “Qualified Institutional Investors” or “Accredited Investors” (as such terms are defined under the Securities Act) pursuant to subscription or other similar agreements or arrangements.
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Substitute Guarantor shall have the meaning set forth in Section 8.3 hereof.
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Substitute Guarantor shall have the meaning set forth in Section 5.2.9(h) hereof.
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Substitute Guarantor. As defined in Section 4.20.5(h) of this Agreement.
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