Guaranty Trigger Event definition
Guaranty Trigger Event has the meaning specified in Section 6.14(b).
Guaranty Trigger Event means, with respect to any Subsidiary, such Subsidiary becomes obligated, in whole or in part, as a co-borrower or guarantor or the like with respect to any of the Bonds or any other unsecured Indebtedness of the Borrower for borrowed money. At the time any Subsidiary becomes a Subsidiary Guarantor, the Borrower shall be deemed to make to the Agent and the Lenders all of the representations and warranties (subject in all cases to all materiality qualifiers and other exceptions in such representations and warranties) contained in this Agreement and the other Loan Documents to the extent they apply to such Subsidiary Guarantor.
Guaranty Trigger Event means (a) the occurrence of an “Event of Default” under the Credit Agreement, (b) the occurrence of a Guarantor Event of Default.
Examples of Guaranty Trigger Event in a sentence
Upon the occurrence of a Personal Guaranty Trigger Event, each Guarantor further agrees to repay the Obligations on demand, without requiring Lender first to enforce payment against Borrower.
More Definitions of Guaranty Trigger Event
Guaranty Trigger Event means the Seller's Adjusted Tangible Net Worth is at or below $5.0 million."
Guaranty Trigger Event means the occurrence of each of the following events: (a) the Borrower's Debt Rating by S&P is less than BBB+ and (b) the Borrower's Debt Rating by ▇▇▇▇▇'▇ is less than Baa1.
Guaranty Trigger Event means (a) the occurrence of an “Event of Default” under Section 10.1(a)(i) of the Credit Agreement, including for the avoidance of doubt as a result of Credit Parties failing to make any mandatory prepayments described in Section 2.1(b) of the Credit Agreement or as the result of any acceleration of the Obligations by Agent or the Lenders, (b) the occurrence of an “Event of Default” under Section 10.1(e) or 10.1(f) of the Credit agreement, or (c) the occurrence of a Guarantor Event of Default; provided further that if an effective Purchase Notice (as defined in the AECOM Subordination Agreement) has been submitted in accordance with Section 15.2 of the AECOM Subordination Agreement, then no Guaranty Trigger Event shall be deemed to have occurred or be continuing until the earlier of (i) the Purchase Date (as defined in the AECOM Subordination Agreement) or (ii) the date on which such Purchase Notice otherwise ceases to be effective in accordance with the terms of the AECOM Subordination Agreement.
Guaranty Trigger Event means that after the satisfaction of the condition set forth in clause (a) of the definition of “Guaranty Release Conditions,” the Company’s Debt Rating is below BBB by S&P or below Baa2 by Moody’s.