Approved Borrower definition

Approved Borrower means any wholly owned Subsidiary of the Company as to which a Designation Letter shall have been delivered to the Administrative Agent in accordance with Section 2.21 hereof and as to which a Termination Letter shall not have been delivered to the Administrative Agent.

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Approved Borrower means (i) each of the entities set forth on Schedule III and (ii) any Wholly Owned Consolidated Subsidiary of the Company as to which a Designation Letter has been delivered to the Administrative Agent and as to which a Termination Letter shall not have been delivered to the Administrative Agent, which Subsidiary has been approved as a borrower hereunder by the Administrative Agent, all in accordance with Section 2.01(b).

Approved Borrower any wholly owned Subsidiary of the Company (other than any EEA Financial Institution) as to which a Designation Letter shall have been delivered to the Administrative Agent in accordance with Section 2.25 hereof and as to which a Termination Letter shall not have been delivered to the Administrative Agent. The Approved Borrowers as of the Closing Date are set forth on Schedule 2.25.

Examples of Approved Borrower in a sentence

• Each Restricted Subsidiary set forth in Schedule 2.25 hereto shall be deemed an Approved Borrower until delivery of a Termination Letter with respect to such Subsidiary.

• Solely for purposes of the preceding sentence, any Approved Borrower organized under the laws of Mexico or Canada that is treated as a US domestic corporation pursuant to Section 1504(d) of the Code shall be treated as an Approved Borrower organized under the laws of the United States.

• So long as all principal and interest on all Loans of any Approved Borrower have been paid in full, the Company may terminate an Approved Borrower’s status as an Approved Borrower by furnishing to the Administrative Agent a letter (a “Termination Letter”), substantially in the form of Exhibit K hereto, duly completed and executed by the Company and such Approved Borrower.

• Notwithstanding the foregoing, the delivery of a Termination Letter with respect to any Approved Borrower shall not affect any obligation of such Approved Borrower theretofore incurred.

More Definitions of Approved Borrower

Approved Borrower means any entity specified on Schedule I hereto (which may be amended from time to time pursuant to Section 3(b) hereof).

Approved Borrower means, with respect to any Revolving Obligation or Delayed Drawdown Collateral Debt Obligation, any borrower that (a) is set forth in a schedule to such Revolving Obligation or Delayed Drawdown Collateral Debt Obligation that lists eligible borrowers under such Collateral Debt Obligation and (b) for the avoidance of doubt, does not cause such Collateral Debt Obligation to breach any Eligibility Criteria at the time the Issuer or the Collateral Manager on behalf of the Issuer enters into a binding agreement to purchase such Revolving Obligation or Delayed Drawdown Collateral Debt Obligation.

Approved Borrower means a borrower under the Private Rented Guarantees Scheme that satisfies the scheme rules and who has a loan application that has been approved both by the Licensee and by the Guarantor, for the purposes of this Licence and the issuance of a relevant Guarantee;

Approved Borrower s charges" means borrower's charges unpaid by the borrower and accepted by the Insurer as payable by the Insurer;

Approved Borrower means any wholly owned Subsidiary of the Company as to which a Designation Letter

Approved Borrower means any wholly owned Subsidiary of the Company as to which a Designation Letter shall have been delivered to the Administrative Agent in accordance with Section 2.22 hereof and as to which a Termination Letter shall not have been delivered to the Administrative Agent.

Approved Borrower means a Person that has been approved by the Special Credit Committee, in its discretion, exercised in good faith in accordance with the Lender’s approval practices and requirements as in effect from time to time.