Acquired Person definition
Examples of Acquired Person in a sentence
In addition to words and terms defined elsewhere in this Agreement, the following words and terms shall have the following meanings, respectively, unless the context hereof clearly requires otherwise: Acquired Person shall mean a Person or business acquired by any Loan Party in a transaction which is a Permitted Acquisition.
For purposes of this Agreement, Indebtedness of any Acquired Person that is not a Subsidiary, which Indebtedness is outstanding at the time such Person is acquired by the Company or a Subsidiary or becomes, or is merged into or consolidated with, a Subsidiary, shall be deemed to have been Incurred by the Company or the acquiring Subsidiary at the time such Acquired Person becomes, or is merged into or consolidated with, a Subsidiary.
Schedule 7.26 lists all of the jurisdictions in which each of the Reliance Standard Insurance Companies, Safety National, and after consummation of any other Acquisition permitted by this Agreement, each Acquired Person (to the extent applicable) hold licenses (including, without limitation, licenses or certificates of authority from applicable insurance departments), permits or authorizations to transact insurance and reinsurance business (collectively, the "Licenses").
Schedule 7.26 indicates that line or lines of insurance which each of the Reliance Standard Insurance Companies, Safety National and such Acquired Person are permitted to be engaged in with respect to each License therein listed.
By way of example only, in the event that a Party enters into a transaction where the economic effect of such transaction is that such Party is the Acquired Person, but the transaction structure is such that such Party legally under the terms of this Agreement would be deemed to be the Acquiring Person, then the preceding two sentences of this Section 20.17 would apply to such transaction.