ABS Subsidiary definition

ABS Subsidiary means any Subsidiary involved in or created in connection with any ABS Facility, including any Subsidiary that is obligated on any Indebtedness in respect of any ABS Facility.

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ABS Subsidiary a direct or indirect Subsidiary of the Borrower that enters into asset-backed securities transactions with respect to vehicle leases originated under the Gold Key Lease Program or any other similar program.

ABS Subsidiary means a bankruptcy-remote special purpose entity that is a Subsidiary of a Borrower or Guarantor created for the sole and exclusive purpose of purchasing or financing assets of a Borrower through a Permitted Securitization. “Administrative Agent” means Bank of America in its capacity as administrative agent under any of the Loan Documents, or any successor administrative agent. “Administrative Agent’s Office” means the office of the Administrative Agent specified as the “Administrative Agent’s Office” on Schedule 10.2. “Administrative Questionnaire” means an administrative questionnaire in a form supplied by the Administrative Agent. “Affected Lender” - see Section 7.7. “Affected Financial Institution” means (a) any EEA Financial Institution or (b) any UK Financial Institution. “Affiliate” means, with respect to any Person, any other Person that directly, or indirectly through one or more intermediaries, Controls or is Controlled by or is under common Control with the Person specified. “Affiliated Entities” means Affiliates of a Borrower that are engaged in the secondary sale and/or leasing of Container Equipment. “Aggregate Commitment Amount” means $2,000,000,000, as such amount may be reduced from time to time pursuant to Section 6.3 or increased from time to time pursuant to Section 6.7. “Agreement” means this Eleventh Restated and Amended Credit Agreement. “Alternate Base Rate” means, on any date and with respect to all Alternate Base Rate Loans, a fluctuating rate of interest per annum equal to the highest of (a) the rate of interest then most recently announced by Bank of America as its “prime rate”, (b) the Federal Funds Rate most recently determined by the Administrative Agent plus 0.5% and (c) Term SOFR as in effect for an Interest Period of one month commencing on such date plus 1.0%; provided that, if the Alternate Base Rate as determined pursuant to clauses (a), (b) or (c) above would be less than 0%, the Alternate Base Rate will be deemed to be 0% for the purposes of this Agreement and the other Loan Documents. The “prime rate” is a rate set by Bank of America based upon various factors including Bank of America’s costs and desired return, general economic conditions and other factors, and is used as a reference point for pricing some loans, which may be priced at, above, or below such announced rate. Any change in such prime rate announced by Bank of America shall take effect at the opening of business on the day specified in the public annou...

Examples of ABS Subsidiary in a sentence

• The shares of capital stock of each ABS Subsidiary that is a corporation have been duly authorized and validly issued and are fully paid and non-assessable.

• Since December 26, 1997, there has been no adverse change in the business relationship of the Company or any ABS Subsidiary with any customer, distributor or supplier named on Schedule 3.27.

• All jurisdictions in which the Company or any ABS Subsidiary is qualified to do business as a foreign corporation are listed on Schedule 3.1.

• Purchaser shall have received evidence reasonably satisfactory to it that none of the ABS Shares, the ABS Subsidiary Shares or the assets of any Acquired Entity are subject to any Liens, except for Permitted Liens.

• There are no orders, writs, injunctions or decrees currently in force against the Company or the directors or officers of the Company or, to the knowledge of the Company, the agents or employees of the Company or any ABS Subsidiary (in their capacity as such) with respect to the conduct of the Company's or any ABS Subsidiary's business.

• None of the Company or the ABS Subsidiaries is in default in any material respect under any Facility lease or sublease, and, to the best knowledge of the Company, no event or condition exists that with notice or lapse of time or both would constitute a default in any material respect by the Company or any ABS Subsidiary under any Facility lease or sublease.

• Except as set forth on Schedule 3.5, the Company has not, at any time within the past five years, repurchased, redeemed or otherwise acquired any shares of capital stock of any ABS Subsidiary.

• There are no options, warrants, conversions or other rights, agreements or commitments of any kind obligating any ABS Subsidiary, contingently or otherwise, to issue, sell or otherwise cause to be outstanding any shares of its capital stock of any class or any securities convertible into or exchangeable for any such shares.

• There is no asbestos containing ---------------------------- material at any Facility owned or operated by the Company or any ABS Subsidiary that is in a condition that would require abatement.

• With respect to each of ---------------------------------------- its Leased Real Property, the Company or an ABS Subsidiary is the sole lessee or sublessee and such lessee or sublessee has an unencumbered interest in the leasehold estate related thereto.

More Definitions of ABS Subsidiary

ABS Subsidiary means a bankruptcy-remote special purpose entity that is a Subsidiary of a Borrower or Guarantor created for the sole and exclusive purpose of purchasing or financing assets of a Borrower through a Permitted Securitization. “Additional Lender” has the meaning set forth in Section 2.8(c).

ABS Subsidiary means Exterran ABS 2007 LLC, Exterran ABS Leasing 2007 LLC and any other Subsidiary certified by the Borrowers to be involved in or created in connection with or as a requirement of the ABS Facility and any Subsidiary of such Subsidiary.

ABS Subsidiary means UCO Compression 2005 LLC and any other Subsidiary certified by the Borrowers to be involved in or created in connection with or as a requirement of the ABS Facility.

ABS Subsidiary means a bankruptcy-remote special purpose entity that is a Subsidiary of a Borrower or Guarantor created for the sole and exclusive purpose of purchasing or financing assets of a Borrower through a Permitted Securitization. “Additional Lender” has the meaning as defined in Section 6.7. “Administrative Agent” means Bank of America in its capacity as administrative agent under any of the Loan Documents, or any successor administrative agent. “Administrative Agent’s Office” means the office of the Administrative Agent specified as the “Administrative Agent’s Office” on Schedule 10.2. “Administrative Questionnaire” means an administrative questionnaire in a form supplied by the Administrative Agent. “Affected Financial Institution” means (a) any EEA Financial Institution or (b) any UK Financial Institution. “Affected Lender” has the meaning as defined in Section 7.7. “Affiliate” means, with respect to any Person, any other Person that directly, or indirectly through one or more intermediaries, Controls or is Controlled by or is under common Control with the Person specified; provided, that, notwithstanding the foregoing with respect to Triton Holdco, “Affiliate” shall not include any Person other than a Subsidiary of Triton Holdco and, with respect to any such Subsidiary, “Affiliate” shall mean Triton Holdco or any other such Subsidiary. “Affiliated Entities” means Affiliates of a Borrower that are engaged in the secondary sale and/or leasing of Container Equipment. “Aggregate Revolving Loan Commitment Amount” means $2,000,000,000, as such amount may be reduced from time to time pursuant to Section 6.3 or increased from time to time pursuant to Section 6.7. “Aggregate Term Loan Commitment Amount” means $1,750,000,000, as such amount may be reduced from time to time pursuant to Section 6.3 or increased from time to time pursuant to Section 6.7. “Agreement” means this Twelfth Amended and Restated Credit Agreement. “Alternate Base Rate” means, on any date and with respect to all Alternate Base Rate Loans, a fluctuating rate of interest per annum equal to the highest of (a) the rate of interest then most recently announced by Bank of America as its “prime rate”, (b) the Federal Funds Rate most recently determined by the Administrative Agent plus 0.5% and (c) Daily Simple SOFR on such date plus 1.0%; provided that, if the Alternate Base Rate as determined pursuant to clauses (a), (b) or (c) above would be less than 0%, the Alternate Base Rate will be deemed to be 0...