Examples of Surety Instruments in a sentence
The parties hereto agree that neither party nor any of its respective Subsidiaries will have any obligation to renew any Surety Instruments issued on behalf of a member of the other party’s Group after the expiration of any such Surety Instruments, provided that nothing in this Section 6.7 shall prevent a party from renewing any Surety Instrument.
Without the prior written consent of RemainCo, SpinCo shall not, and shall not permit any of its Subsidiaries to, enter into, renew or extend the term of, increase its obligations under, or transfer to a Third Party, any loan, lease, Contract or other obligation in connection with which RemainCo or any of its Subsidiaries has issued, or caused to be issued, any Surety Instruments relating to any RemainCo Surety Obligations for the SpinCo Business.
From and after the Distribution Time: SpinCo shall indemnify and hold harmless RemainCo and each of its Subsidiaries from and against any other Losses arising from or relating to any Surety Instruments relating to the RemainCo Surety Obligations for the SpinCo Business.
All Maintenance Surety Instruments shall be approved by the Planning Commission prior to becoming effective.
The Parties agree that neither RemainCo nor any of its Subsidiaries will have any obligation to renew any Surety Instruments relating to the RemainCo Surety Obligations for the SpinCo Business, after the expiration of any such Surety Instruments, provided that nothing in this Section 6.7(a) shall prevent RemainCo or any of its Subsidiaries from renewing any Surety Instrument.