Replacement Guarantor definition

Replacement Guarantor shall have the meaning set forth in Section 6.4 hereof.

Replacement Guarantor means a Person acceptable to Lender that executes a Guaranty in connection with (i) a Transfer, (ii) a Guarantor Status Event, (iii) a Guarantor Bankruptcy, or (iv) the death of a Guarantor, and that meets the Replacement Guarantor Net Worth and Liquidity Requirements.

Replacement Guarantor means a Person that has a net worth of at least $50,000,000 (excluding the value of any direct or indirect interest in the Properties), as reasonably determined by Lender and (ii) is reasonably acceptable to Lender in all other respects.

Examples of Replacement Guarantor in a sentence

• The Issuer shall promptly upon such release of the Singapore Guarantor give notice of such release and details of the Replacement Guarantor to the Noteholders in accordance with Condition 12.

• Upon the delivery of the Guaranty from the Qualified Replacement Guarantor, subject to the satisfaction of the foregoing conditions,(a) the Qualified Replacement Guarantor shall become the “Guarantor” for all purposes under this Lease, and (b) the then- current Guarantor shall be automatically released from all liabilities and obligations thereafter arising under the Guaranty.

• Notwithstanding anything to the contrary, the provisions of this Article 13 shall not apply to the transfer of Ownership Interests in Tenant if and so long as (i) the Ownership Interests in Tenant or Guarantor are publicly traded on a nationally recognized stock exchange, and (ii) after giving effect to such transfer, (A) Tenant continues to be Controlled by Guarantor or a Qualified Replacement Guarantor, and (B) the Guaranty remains in full force and effect.

• Similarly, Replacement Guarantor shall not be deemed to have reaffirmed any representations or warranties made by Original Guarantor under the Loan Documents to the extent such representations or warranties do not relate to the Property but instead relate to Original Guarantor’s financial status or entity/organizational specific matters.

• A related requirement proposed by senior lenders is that if the mezz lender transfers its loan, the transferee would have to provide areplacement carveout guaranty from a Deemed Replacement Guarantor as a condition of such transfer.

More Definitions of Replacement Guarantor

Replacement Guarantor means a Person that satisfies, in addition to the requirements set forth in Section 7.7 hereof, each of the following: (a) owns not less than fifty one (51%) of the direct or indirect equity interest in Borrower and Controls each Borrower, (b) has been approved by Lender (which approval shall not be unreasonably withheld, conditioned or delayed) and (c) for which a Rating Agency Confirmation has been received.

Replacement Guarantor as defined in Section 6.1.

Replacement Guarantor means any Person, reasonably acceptable to Agent, who becomes a Guarantor hereunder pursuant to Section 4.14 hereof or otherwise.

Replacement Guarantor means the Guarantor under any Replacement Guaranty.

Replacement Guarantor means a Person that: (i) is an entity organized under Delaware or New York law, (ii) is a direct or indirect wholly-owned subsidiary of Sponsor, (iii) satisfies the financial covenants contained in the Guaranty and (iv) satisfies Lender’s standard “know your customer” requirements.

Replacement Guarantor shall have the meaning set forth in Section 8.01;

Replacement Guarantor is defined in Section 7.03(e)(vii).