Examples of Recourse Guaranty in a sentence
To the extent that Administrative General Partner or its Related Party is required to pay amounts under any Recourse Guaranty (a “Recourse Guaranty Payment”) for any reason, the Partnership shall upon five days’ written demand reimburse the Administrative General Partner or its Related Party (as applicable) for any Recourse Guaranty Payment, plus interest thereon, at the lesser of (i) 10% per annum compounded annually and (ii) the maximum interest rate permitted by law.
As a condition precedent to the execution of the First Lien Credit Agreement, EPI executed a Limited Recourse Guaranty Agreement (“EPI Term Loan Guaranty”) to satisfy the liabilities and obligations incurred under the First Lien Credit Agreement.
Notwithstanding anything contained in this Agreement, (i) the Administrative General Partner shall not be required to pay any Recourse Guaranty Payment for any Authorized Financing until such Authorized Financing is paid in full; and (ii) the Managing General Partner shall not be responsible to pay any Recourse Guaranty Payment at any time.
The Recommendation clarifies in this action that Credit Suisse is pursuing damages for the Defendants’ alleged breaches of the terms of the Non- Recourse Guaranty agreement.
Limited Recourse Guaranty dated as of April 1, 2015, by Hawaii Pacific Energy, LLC.