Designation of Restricted Subsidiary. The Borrower may by written notice delivered to the Agent designate as a Restricted Subsidiary a Subsidiary formerly designated a Non-Restricted Person or a newly formed or acquired Subsidiary. Such designation is subject to (i) compliance with Section 10.18 [Joinder of Guarantors]; (ii) the requirements of Section 7 [Covenants] and in particular Section 7.2.10 [Borrowing Base] (provided that the requirements of such Section 7.2.10 shall apply only if the Investment Grade Period is not in effect); and (iii) the requirement that such designation not cause an Event of Default or Potential Default. Such designation shall be effective on the date specified by the Borrower which shall not be earlier than five (5) Business Days after the receipt by the Agent of such notice.
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Samples: Credit Agreement (Hovnanian Enterprises Inc), Credit Agreement (Hovnanian Enterprises Inc), Credit Agreement (Hovnanian Enterprises Inc)
Designation of Restricted Subsidiary. The Borrower may by written notice delivered to the Agent designate as a Restricted Subsidiary a Subsidiary formerly designated a Non-Restricted Person or a newly formed or acquired Subsidiary. Such designation is subject to (i) compliance with Section 10.18 [Joinder of Guarantors]; (ii) the requirements of Section 7 [Covenants] and in particular Section 7.2.10 [Borrowing Base] (provided that the requirements of such Section 7.2.10 shall apply only if the Investment Grade Period is not in effect)]; and (iii) the requirement that such designation not cause an Event of Default or Potential Default. Such designation shall be effective on the date specified by the Borrower which shall not be earlier than five (5) Business Days after the receipt by the Agent of such notice.
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Samples: Credit Agreement (Hovnanian Enterprises Inc), Credit Agreement (Hovnanian Enterprises Inc)
Designation of Restricted Subsidiary. The Borrower may by written notice delivered to the Agent designate as a Restricted Subsidiary a Subsidiary formerly designated a Non-Restricted Person or a newly formed or acquired Subsidiary. Such designation is subject to (i) compliance with Section 10.18 [(Joinder of Guarantors]); (ii) the requirements of Section 7 [(Covenants] ) and in particular Section 7.2.10 [Borrowing Base] (provided that the requirements of such Section 7.2.10 shall apply only if the Investment Grade Period is not in effect)]; and (iii) the requirement that such designation not cause an Event of Default or Potential Default. Such designation shall be effective on the date specified by the Borrower which shall not be earlier than five (5) Business Days after the receipt by the Agent of such notice.. 3. INTEREST RATES 3.1
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Designation of Restricted Subsidiary. The Borrower may by written notice delivered to the Agent designate as a Restricted Subsidiary a Subsidiary formerly designated a Non-Restricted Person or a newly formed or acquired Subsidiary. Such designation is subject to (i) compliance with Section 10.18 [(Joinder of Guarantors]); (ii) the requirements of Section 7 [(Covenants] ) and in particular Section 7.2.10 [(Borrowing Base] (provided that the requirements of such Section 7.2.10 shall apply only if the Investment Grade Period is not in effect); and (iii) the requirement that such designation not cause an Event of Default or Potential Default. Such designation shall be effective on the date specified by the Borrower which shall not be earlier than five (5) Business Days after the receipt by the Agent of such notice. 2.5.5.
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Designation of Restricted Subsidiary. The Borrower may by written notice delivered to the Agent designate as a Restricted Subsidiary a Subsidiary formerly designated a Non-Restricted Person or a newly formed or acquired Subsidiary. Such designation is subject to (i) compliance with Section 10.18 [(Joinder of Guarantors]); (ii) the requirements of Section 7 [(Covenants] ) and in particular Section 7.2.10 [(Borrowing Base] (provided that the requirements of such Section 7.2.10 shall apply only if the Investment Grade Period is not in effect); and (iii) the requirement that such designation not cause an Event of Default or Potential Default. Such designation shall be effective on the date specified by the Borrower which shall not be earlier than five (5) Business Days after the receipt by the Agent of such notice.. 3. INTEREST RATES 3.1
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Designation of Restricted Subsidiary. The Borrower may by written notice delivered to the Agent designate as a Restricted Subsidiary a Subsidiary formerly designated a Non-Restricted Person or a newly formed or acquired Subsidiary. Such designation is subject to (i) compliance with Section 10.18 [(Joinder of Guarantors]); (ii) the requirements of Section 7 [Covenants] and in particular Section 7.2.10 [(Borrowing Base] (provided that the requirements of such Section 7.2.10 shall apply only if the Investment Grade Period is not in effect); and (iii) the requirement that such designation not cause an Event of Default or Potential Default. Such designation shall be effective on the date specified by the Borrower which shall not be earlier than five (5) Business Days after the receipt by the Agent of such notice.. 3. INTEREST RATES 3.1
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