Examples of Affiliate Holder in a sentence
For example, in the event there are five Holders, each with a 20% Percentage Interest, and one of those Holders becomes a Borrower Affiliate Holder, for voting purposes going forward, each non-affiliated Holder shall be deemed to have a percentage interest of 25%.
Any such Borrower Affiliate Holder shall, however, retain the right to receive any and all amounts payable on account of its Note under this Agreement other than any default interest or late fees or charges.
Notwithstanding anything to the contrary contained herein, each Holder hereby covenants and agrees that if it shall become a Borrower Affiliate Holder, it shall not interfere with the foreclosure rights or the exercise of any other remedies asserted by, or on behalf of, the Holders that are not Borrower Affiliate Holders.
In the case of clause (i) above, each Holder other than a Borrower Affiliate Holder shall have their aggregate Percentage Interest in the Mezzanine Loan “grossed up” on account of the Borrower Affiliate Holder’s Percentage Interest in the Mezzanine Loan for the purposes of calculating a Majority Decision, a Super-Majority Decision, or a Unanimous Decision and for all other related purposes hereunder.
In the event that LMEA or an Affiliate thereof which is controlled by LMEA (other than the Partnership or Parent) acquires any equity in Holdings, whether directly from Holdings or through a transfer from the Partnership (such acquiring entity, an “Affiliate Holder”), each Participant shall be entitled to enter into an agreement or other arrangement with such Affiliate Holder and Holdings which contains substantially the same rights and obligations as are set forth in this Agreement.