Common use of Group Guarantee Clause in Contracts

Group Guarantee. In accordance with and subject to the Security Principles, the Borrower shall cause each present and future Material Subsidiary to enter into, or accede to, the Group Guarantee, such that such Person guarantees in favour of the Administrative Agent, for the benefit of the Secured Parties, all Secured Liabilities of the Borrower. The obligation of a Person to accede to the Group Guarantee shall arise as soon as reasonably practicable (but no later than 30 days) after such Person becomes a Material Subsidiary.

Group Guarantee. In accordance with and subject to the Security Principles, the Borrower shall cause each present and future Material Subsidiary to enter into, or accede to, the Group Guarantee, such that such Person guarantees in favour of the Administrative Agent, for the benefit of the Secured Parties, all Secured Liabilities of the BorrowerCredit Parties. The obligation of a Person to accede to the Group Guarantee shall arise as soon as reasonably practicable (but no later than 30 days) after such Person becomes a Material Subsidiary.