Search Elements:
- Taxonomy
- us-gaap
- Name
- IndirectGuaranteeOfIndebtednessMember
- Label
- Indirect Guarantee of Indebtedness [Member]
- Period Type
- duration
- Type
- dtr-types:domainItemType
- Definition
- An indirect guarantee of the indebtedness of another party arises under an agreement that obligates one entity to transfer funds to a second entity upon the occurrence of specified events, under conditions whereby (a) the funds become legally available to creditors of the second entity and (b) those creditors may enforce the second entity''s claims against the first entity under the agreement. Examples of indirect guarantees include agreements to advance funds if a second entity''s net income, coverage of fixed charges, or working capital falls below a specified minimum.
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