Acceptable LLC definition

Acceptable LLC means a limited liability company formed under Delaware law which (i) has at least one springing member, which, upon the dissolution of all of the members or the withdrawal or the disassociation of all of the members from such limited liability company, shall immediately become the sole member of such limited liability company, and (ii) otherwise meets the Rating Agency criteria then applicable to such entities.
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Acceptable LLC means a limited liability company formed under Delaware law which has at least one springing member, which, upon the dissolution of all of the members or the withdrawal or the disassociation of all of the members from such limited liability company, shall immediately become the sole member of such limited liability company.
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Acceptable LLC. Schedule IV
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Examples of Acceptable LLC in a sentence

  • Notwithstanding anything to the contrary contained herein, it shall be an additional covenant and requirement under this Article that any entity housing an Independent Director (whether any Borrower and/or any SPE Component Entity) shall be an Acceptable LLC.

  • If Borrower is a partnership or limited liability company (other than an Acceptable LLC), each general partner (in the case of a partnership) and at least one member (in the case of a limited liability company) of Borrower, as applicable, shall be a corporation or an Acceptable LLC (each an “SPE Component Entity”) whose sole asset is its interest in Borrower.

  • Notwithstanding anything to the contrary contained herein, it shall be an additional covenant and requirement under this Article that any entity housing an Independent Director (whether Borrower and/or any SPE Component Entity) shall be an Acceptable LLC.

  • As of the date hereof, Borrower is an Acceptable LLC and an SPE Component Entity is not required so long as Borrower continues to qualify as an Acceptable LLC.

  • In addition, the organizational documents of each Required SPE (to the extent such Required SPE is an Acceptable LLC or a corporation formed under the laws of any jurisdiction of the United States) shall provide that, when voting with respect to any Material Action, the Independent Director or Independent Manager (as applicable) shall consider only the interests of the applicable Required SPE, including its creditors.


More Definitions of Acceptable LLC

Acceptable LLC. Schedule IV “Account Collateral” – 6.9
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Acceptable LLC has the meaning set forth on Schedule III attached hereto.
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Acceptable LLC means a member-managed limited liability company that is a Special Purpose Entity in accordance with the terms herein with only one member.
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Acceptable LLC means (A) a limited liability company formed under Colorado law which has at least one springing member, which, upon the dissolution of all of the members or the withdrawal or the disassociation of all of the members from such limited liability company, shall immediately become the sole member of such limited liability company, or (B) a limited liability company formed under Delaware law which (i) has at least one springing member, which, upon the dissolution of all of the members or the withdrawal or the disassociation of all of the members from such limited liability company, shall immediately become the sole member of such limited liability company, and (ii) otherwise meets the Rating Agency criteria then applicable to such entities.
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Acceptable LLC has the meaning set forth in the definition of Special Purpose Entity. “Account Collateral” has the meaning set forth in Section 3.6 hereof. “Accounts” means, collectively, the Clearing Account, the Cash Management Account, and each of the Reserve Accounts. “Act” has the meaning set forth in the definition of Special Purpose Entity. “Additional Advance” has the meaning set forth in Section 2.1.3 hereof. “Advance Date” means, with respect to each Additional Advance, the date on which such Additional Advance is disbursed to Borrower pursuant to this Agreement. “Advance Item” means, individually and collectively as the context may require, Approved Project Expenditures and Interest and Carry Costs. “Affiliate” means, as to any Person, any other Person that (a) directly or indirectly owns twenty percent (20%) or more of the Equity Interests in such Person, and/or (b) is in Control of, is Controlled by
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Acceptable LLC has the meaning set forth in the definition of Special Purpose Entity.
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Acceptable LLC means a limited liability company formed under Delaware or Maryland law which (i) has at least one springing member, which, upon the dissolution of all of the members or the withdrawal or the disassociation of all of the members from such limited liability company, shall immediately become the sole member of such limited liability company, and (ii) otherwise meets the Rating Agency criteria then applicable to such entities. "Act" shall have the meaning set forth in Section 3.1.24( d) hereof. "Actual Debt Service Coverage Ratio" shall mean as of the last day of the calendar month immediately preceding the applicable date of determination, the quotient obtained by dividing (1) the Adjusted Net Cash Flow by (2) the aggregate actual Debt Service (excluding Reserve Funds) projected over the twelve (12) month period subsequent to the date of calculation; provided, that, the foregoing shall be calculated by Lender (A) assuming that the Loan had been in place for the entirety of said period and (B) disregarding any "interest only" period under the Loan and assuming that constant principal and interest payments were due for the entirety of said period based the Interest Rate and a thirty (30) year amortization schedule. DMEAST #17478116 v7
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