Equity in Borrower. The Borrower has neither sold nor pledged any of its limited liability company interests to any entity other than Credit Acceptance.
Equity in Borrower. Agent shall have approved (such approval not to be unreasonably withheld) the agreements relating to the issuance of new preferred equity in Borrower to Warburg, Xxxxxx Equity Partners, L.P. and certain other Persons, and Agent shall have received evidence satisfactory to the Agent that Borrower shall have received at least $100,000,000.00 in gross cash proceeds from such issuance.
Equity in Borrower. The Borrower has neither sold nor pledged any of its limited liability company interests to any entity other than Credit Acceptance. The representations and warranties set forth in this Section 4.1 shall survive the Borrower’s pledge of the Collateral to the Collateral Agent and the termination of the rights and obligations of the Servicer. Upon discovery by the Borrower, the Servicer or Credit Acceptance, or upon written notice or actual knowledge by a Responsible Officer of the Collateral Agent, of a breach of any of the representations and warranties set forth herein, the party discovering, receiving notice of or having actual knowledge, as applicable, of such breach shall give prompt written notice to the other parties of such breach.
