Project Subsidiaries. (a) Each Project Subsidiary shall (i) own, at all times, no material asset other than assets related to a Project, (ii) owe, at all times, no Debt for borrowed money other than Permitted Project Debt. (b) No obligations of any Project Subsidiary shall be supported or Guaranteed by the BVI Borrower or any of its Subsidiaries or any assets of the BVI Borrower or its Subsidiaries, in each case, other than by any member of the relevant Project Group.
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Samples: Credit Agreement (AquaVenture Holdings LTD), Credit Agreement (AquaVenture Holdings LTD), Credit Agreement (AquaVenture Holdings LTD)
Project Subsidiaries. (a) Each Project Subsidiary shall (i) own, at all times, no material asset other than assets related to a Project, (ii) owe, at all times, no Debt for borrowed money other than Permitted Project Debt.
(b) No obligations of any Project Subsidiary shall be supported or Guaranteed by the BVI Borrower or any of its Subsidiaries or any assets of the BVI Borrower or its Subsidiaries, in each case, other than by any member of the relevant Project Group.
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