SPE Component Entity definition

SPE Component Entity shall have the meaning set forth in Section 5.1 hereof.

SPE Component Entity. As defined in the Mortgage Loan Agreement.

SPE Component Entity means, if required by Lender under Article 6, each general partner if Borrower is a partnership, or the managing member if Borrower is a limited liability company, which entity shall be a corporation whose sole asset is its interest in Borrower.

Examples of SPE Component Entity in a sentence

• Notwithstanding the immediately preceding sentence, an Independent Director of Borrower or any SPE Component Entity may not simultaneously serve as Independent Director of Borrower or any SPE Component Entity and as an independent director of a special purpose entity that owns a direct or indirect equity interest in Borrower or the SPE Component Entity.

• At the request of Lender, Borrower shall execute a certificate in form satisfactory to Lender listing the trade names under which Borrower or the SPE Component Entity intends to operate the Property, and representing and warranting that Borrower or the SPE Component Entity does business under no other trade name with respect to the Property.

• There is no action, suit or proceeding, judicial, administrative or otherwise (including any condemnation or similar proceeding), pending or, to the best of Borrower’s knowledge, threatened or contemplated against Borrower, [any Guarantor, Indemnitor, or SPE Component Entity] or against or affecting the Property that has not been disclosed to Lender by Borrower in writing.

• Notwithstanding the provisions of this Section 11.1 to the contrary, if any Event of Default as Subsection 10.1(g) shall occur as to Borrower, Master Lessee (if the Master Lease Termination has not yet occurred) or any SPE Component Entity, the entire unpaid Debt shall be automatically due and payable, without any further notice, demand or other action by Lender.

• A natural person who otherwise satisfies the foregoing definition other than subsection (i) by reason of being the independent director of a single purpose entity affiliated with Borrower shall not be disqualified from serving as an Independent Director of Borrower (or any SPE Component Entity) if the fees that such individual earns from serving as Independent Director of affiliates of Borrower constitute in the aggregate less than five percent (5%) of such individual’s annual income.

More Definitions of SPE Component Entity

SPE Component Entity shall have the meaning set forth in Section 5.1 hereof. For avoidance of doubt, on the Closing Date, Borrower is an Acceptable LLC and therefore, no SPE Component Entity exists and, so long as Borrower continues to be an Acceptable LLC, no SPE Component Entity is required.

SPE Component Entity means, if Borrower is a limited partnership or a limited liability company, each general partner or managing member of Borrower.

SPE Component Entity as defined in the Xxxxx Fargo Mortgage Loan Agreement and (ii) if a CIGNA Mortgage Loan Borrower is a limited partnership or limited liability company, each general partner thereof in the case of a limited partnership, or the managing member thereof in the case of a limited liability company.

SPE Component Entity means each managing member of Borrower.

SPE Component Entity shall have the meaning set forth on Exhibit C attached hereto.

SPE Component Entity. Section 10.5

SPE Component Entity means, collectively, Borrower, Borrower Member, Operating Lessee and Operating Lessee Member.