Guaranteed Indebtedness Clause Samples
The Guaranteed Indebtedness clause defines the specific debts or obligations that are covered by a guarantor's promise to pay if the primary borrower defaults. Typically, this clause outlines the types of loans, credit facilities, or financial commitments included under the guarantee, such as principal, interest, fees, and sometimes future advances or renewals. By clearly identifying what is guaranteed, this clause ensures both parties understand the scope of the guarantor's liability, thereby reducing ambiguity and potential disputes over the extent of the guarantee.
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Guaranteed Indebtedness. The payment by Debtor, when due and payable, of all amounts from time to time owing by Debtor under or in respect of the Guaranty or any of the other Obligation Documents to which Debtor is a party, and the due performance by Debtor of all of its other respective obligations under or in respect of the Guaranty and such other Obligation Documents.
Guaranteed Indebtedness. No Credit Party shall create, incur, assume or permit to exist any Guaranteed Indebtedness except (a) by endorsement of instruments or items of payment for deposit to the general account of any Credit Party, and (b) for Guaranteed Indebtedness incurred for the benefit of any other Credit Party if the primary obligation is expressly permitted by this Agreement.
Guaranteed Indebtedness. 45 6.7. Liens.......................................................................................... 46 6.8. Sale of Stock and Assets....................................................................... 46 6.9. ERISA.......................................................................................... 48 6.10.
Guaranteed Indebtedness. No Borrower shall create, incur, assume or permit to exist any Guaranteed Indebtedness except (a) by endorsement of instruments or items of payment for deposit to the general account of any Borrower, and (b) for Guaranteed Indebtedness incurred for the benefit of any other Borrower if the primary obligation is expressly permitted by this Agreement.
Guaranteed Indebtedness. 26 6.7 Liens..........................................................................................26 6.8
Guaranteed Indebtedness. Borrower shall not and shall not permit any Subsidiary of Borrower to incur any Guaranteed Indebtedness (excluding the Guaranteed Indebtedness pursuant to the Guaranty) except (i) by endorsement of instruments or items of payment for deposit to the general account of Borrower or such Subsidiary, and (ii) for Guaranteed Indebtedness incurred for the benefit of Borrower or any Subsidiary of Borrower if the primary obligation or transaction is permitted by this Agreement.
Guaranteed Indebtedness. No Credit Party shall create, incur, assume or permit to exist any Guaranteed Indebtedness except:
(a) Guaranteed Indebtedness by endorsement of instruments or items of payment for deposit to the general account of any Credit Party;
(b) Guaranteed Indebtedness incurred for the benefit of any other Credit Party if the primary obligation of such other Credit Party is permitted by this Agreement, provided that if the payment of such primary obligation is subordinated to the payment of any of the Obligations, then the payment of such Guaranteed Indebtedness shall be subordinated to the payment of the Obligations on the same basis that such primary obligation is so subordinated;
(c) Guaranteed Indebtedness existing on the date hereof and described in Disclosure Schedule 6.6;
(d) the Guaranties;
(e) Guaranteed Indebtedness incurred in the ordinary course of business of a Credit Party with respect to surety and appeal bonds, performance and return-of-money bonds and other similar obligations of such Credit Party up to $250,000 in the aggregate for all Credit Parties combined;
(f) Guaranteed Indebtedness arising under indemnity agreements with title insurers to cause such title insurers to issue in favor of Agent mortgagee title insurance policies; and
(g) additional Guaranteed Indebtedness of the Credit Parties not to exceed an aggregate outstanding principal amount of $250,000 at any time for all Credit Parties combined.
Guaranteed Indebtedness. The term “Guaranteed Indebtedness”, as used herein, means all of the Obligations, as defined in the Credit Agreement. The “Guaranteed Indebtedness” shall include any and all post-petition interest and expenses (including attorneys’ fees) whether or not allowed under any bankruptcy, insolvency, or other similar law; provided that the Guaranteed Indebtedness shall be limited, with respect to each Guarantor, to an aggregate amount equal to the largest amount that would not render such Guarantor’s obligations hereunder subject to avoidance under Section 544 or 548 of the United States Bankruptcy Code or under any applicable state law relating to fraudulent transfers or conveyances.
Guaranteed Indebtedness. No Credit Party shall create, incur, assume or permit to exist any Guaranteed Indebtedness except (a) for Guaranteed Indebtedness in existence on the date hereof described in Disclosure Schedule (6.6), (b) for Guaranteed Indebtedness incurred for the benefit of the purchasers of Equipment Inventory to support sales by any Borrower or Guarantor of such Equipment Inventory in the ordinary course of business to such purchasers, not to exceed $2,000,000 at any one time outstanding for all Credit Parties, (c) by endorsement of instruments or items of payment for deposit to the general account of any Credit Party, and (d) for Guaranteed Indebtedness incurred for the benefit of any other Credit Parry if the primary obligation is expressly permitted by this Agreement other than Indebtedness, if any, of a Target existing at the time such Target is acquired.
Guaranteed Indebtedness. Borrower shall not create, incur, assume or permit to exist any obligation to guaranty any indebtedness or other obligation of any other Person in any manner except by endorsement of instruments or items of payment for deposit to the general account of Borrower.