Document ID: 15371

Text:
Guarantors means and includes each direct and indirect Domestic Subsidiary of each Borrower (other than NATC or an Immaterial Subsidiary), and each Borrower, in its capacity as a guarantor of the Secured Obligations of another Loan Party; provided, however, that upon the occurrence of any Immaterial Subsidiary ceasing to be an Immaterial Subsidiary, such Subsidiary shall be included in the definition of Guarantors; provided, further, that unless otherwise required by the Administrative Agent or the Required Lenders during the existence of any Event of Default, a Foreign Subsidiary shall not be required to be a Guarantor hereunder to the extent that and for so long as the guaranty by (or pledge of any assets or Ownership Interests (other than up to sixty-five percent (65%) of the voting Ownership Interests and one hundred percent ( 100% ) of the non-voting Ownership Interests of a First Tier Foreign Subsidiary) of) such Foreign Subsidiary would have a material adverse tax consequence for a Borrower or result in a violation of applicable Legal Requirements.

Named Entities:
135
139
Percentage
151
152
Percentage

Tokenized Text:
Guarantors
means
and
includes
each
direct
and
indirect
Domestic
Subsidiary
of
each
Borrower
(
other
than
NATC
or
an
Immaterial
Subsidiary
)
,
and
each
Borrower
,
in
its
capacity
as
a
guarantor
of
the
Secured
Obligations
of
another
Loan
Party
;
provided
,
however
,
that
upon
the
occurrence
of
any
Immaterial
Subsidiary
ceasing
to
be
an
Immaterial
Subsidiary
,
such
Subsidiary
shall
be
included
in
the
definition
of
Guarantors
;
provided
,
further
,
that
unless
otherwise
required
by
the
Administrative
Agent
or
the
Required
Lenders
during
the
existence
of
any
Event
of
Default
,
a
Foreign
Subsidiary
shall
not
be
required
to
be
a
Guarantor
hereunder
to
the
extent
that
and
for
so
long
as
the
guaranty
by
(
or
pledge
of
any
assets
or
Ownership
Interests
(
other
than
up
to
sixty-five
percent
(
65
%
)
of
the
voting
Ownership
Interests
and
one
hundred
percent
(
100
%
)
of
the
non-voting
Ownership
Interests
of
a
First
Tier
Foreign
Subsidiary
)
of
)
such
Foreign
Subsidiary
would
have
a
material
adverse
tax
consequence
for
a
Borrower
or
result
in
a
violation
of
applicable
Legal
Requirements
.