Examples of Guaranty Obligations in a sentence
Holdings shall own no assets other than the Capital Securities of the BorrowerTurtle Beach, any cash and Cash Equivalent Investments as permitted hereunder and its own Capital Securities pursuant to any permitted stock repurchases, and shall not incur any Indebtedness (other than the Obligations, the Subordinated Debt and the Guaranty Obligations thereof).
The Guarantor shall ensure that its Guaranty Obligations under the Agreement will at all times constitute the direct, general and unconditional obligations of the Guarantor and rank in all respects at least pari passu in priority of payment with all other unsecured and unsubordinated debt of the Guarantor except for obligations mandatorily preferred by law applicable to companies generally.
The giving, taking or enforcement of or execution against any other or additional security, collateral, or guaranty for the payment of the Guaranty Obligations shall not operate to prejudice, waive or affect any rights, powers or remedies hereunder, nor shall the Collateral Agent be required to first look to, enforce, exhaust or execute against such other or additional security, or guarantees prior to so acting against the Collateral.
Notwithstanding the foregoing, the Guaranty Obligations shall not include any items set forth on Schedule 2.02(j), which shall be governed exclusively by the terms of Section 2.02(j).