Obligor Group. Each Subsidiary of the Company which is a borrower or guarantor under the Notes Financing Agreements or the Global Credit Facilities as of the Effective Date is a Subsidiary Guarantor hereunder (subject to release of Guarantors to occur on the Effective Date).
Obligor Group. Collectively, the Borrower and the Guarantors (including any Subsidiary of the Borrower which as of any date of determination has become a Guarantor pursuant to the provisions of this Credit Agreement).
Obligor Group. At any time at which the Leverage Ratio of the Company and its consolidated Subsidiaries is greater than 3.00 to 1.00 for the Last Twelve-Month Period based on the most recent quarterly or annual consolidated financial statements delivered pursuant to Section 7.1(A)(i) or (ii), as applicable, no more than 25% of the EBIT of the Obligor Group may be contributed by the Foreign-Owned Subsidiaries that are not Pledged Foreign Subsidiaries (the “Foreign EBIT Cap”). If at any time the Company exceeds the Foreign EBIT Cap, the Company shall promptly (and in any event within 10 Business Days after knowledge thereof) notify the Administrative Agent thereof and indicate to the Administrative Agent those Foreign-Owned Subsidiaries that should be removed from the Obligor Group so that the remaining Foreign-Owned Subsidiaries do not exceed the Foreign EBIT Cap, provided that the Company may at any time substitute any Foreign-Owned Subsidiaries for other Foreign-Owned Subsidiaries previously removed as long as any such substitution does not cause the Foreign EBIT Cap to be exceeded. If the Company does not so notify the Administrative Agent of such an occurrence within 3 Business Days after the date on which it was required to notify the Administrative Agent, then the Administrative Agent shall be entitled, in its sole discretion, to remove from the Obligor Group (with notice to the Company) such Foreign-Owned Subsidiaries as it deems necessary to cause the remaining Foreign-Owned Subsidiaries to satisfy the Foreign EBIT Cap, provided that the Company may at any time thereafter substitute any other Foreign-Owned Subsidiaries for any such removed Foreign-Owned Subsidiaries as long as such substitution does not cause the Foreign EBIT Cap to be exceeded.
Obligor Group ensure that at all times each of the total assets, revenues and Net Operating Cash Flow of the Obligors which are members of the Restricted Group (taken together) is not less than 90 per cent. of the consolidated total assets, consolidated revenues and Consolidated Net Operating
Obligor Group. Each Subsidiary (other than Affected Foreign Subsidiaries) of the Company which is or will be as of the date of Closing a borrower, guarantor or otherwise an obligor under the Credit Agreement as of the date hereof is or will be as of the date of Closing a Guarantor hereunder.
Obligor Group. Each Domestic Subsidiary of the Company which is a borrower or guarantor under the Credit Agreement as of the date hereof is a Guarantor hereunder. As of the date hereof, there are no Foreign Subsidiaries which guarantee Indebtedness of the Company or any Domestic Subsidiary.
Obligor Group. Collectively, the Borrower and the Guarantors (including any Subsidiary of the Borrower which as of any date of determination has become a Guarantor pursuant to the provisions of this Credit Agreement). OBLIGOR GROUP REQUIREMENT. The requirement that, as of any date of determination, Consolidated EBIT of the Obligor Group for the Measurement Period most recently ended shall not be less than $275,000,000.
Obligor Group. Each Subsidiary of the Company which is a borrower or guarantor under the LC Agreement, the Existing Financing Agreements or the Notes Financing Agreements as of the date hereof is a Subsidiary Guarantor hereunder. UTi Worldwide Inc. Nedbank Letter of Credit Agreement
Obligor Group ensure that the combined, consolidated total assets, consolidated revenues and consolidated EBITDA of each Borrower and its Subsidiaries as at the date of this Agreement, each Original Guarantor and its Subsidiaries as at the date of this Agreement and each Acceding Guarantor and its Subsidiaries as at the date on which it became a Guarantor (other than Unrestricted Subsidiaries) is not less than 90 per cent. of the consolidated total assets, consolidated revenues and consolidated EBITDA of the Restricted Group. For the purposes of this clause 11.1(w) the consolidated revenues and consolidated EBITDA of the Restricted Group or any Obligor shall be determined by reference to the 12 month period ending on the most recent Quarter Day in respect of which Quarterly Management Accounts have been delivered to the Agent under this Agreement and consolidated total assets shall be determined as at such Quarter Day by reference to such Quarterly Management Accounts. In determining compliance with the undertaking contained in this clause 11.1(w) following any acquisition by a member of the Restricted Group, the consolidated revenues and consolidated EBITDA of the Restricted Group shall be adjusted to take account of the revenues and EBITDA attributable to the acquisition in respect of the 12 month period ending on such Quarter Day and the consolidated total assets of the Restricted Group shall be adjusted to take account of the total assets attributable to such acquisition as at such Quarter Day;
