Common use of Execution of Guaranty Documents Clause in Contracts

Execution of Guaranty Documents. If at any time the Borrower elects that a Subsidiary become a U.S. Loan Party or any Person becomes a Subsidiary (other than an Excluded Subsidiary or Immaterial Subsidiary) of a U.S. Loan Party after the date hereof, then the Borrower will promptly (but in any event no later than 10 days after the occurrence of such event) notify Administrative Agent of that fact and cause such Subsidiary to execute and deliver to Administrative Agent a counterpart of each of the U.S. Guaranty and Security Agreement and the Intercreditor Agreement and to comply with the following clause (b).