Examples of Australian Credit Party in a sentence
In this Agreement, where it relates to an Australian Credit Party, a reference to insolvent includes “insolvent” within the meaning of section 95A of the Australian Corporations Act.
An Australian Credit Party shall not become a member of a Tax Consolidated Group unless (i) a valid tax sharing agreement and a tax funding agreement are maintained in full force and effect in respect of that Tax Consolidated Group, (ii) it and each other member of the Tax Consolidated Group complies with such tax sharing agreement and such tax funding agreement, and (iii) each member of the Tax Consolidated Group is a Subsidiary of Holdings.
No Australian Credit Party is a member of a Tax Consolidated Group other than a Tax Consolidated Group where the only members are Subsidiaries of Holdings and the Tax Consolidated Group is the subject of a valid tax sharing agreement and a tax funding agreement.
Without limiting any other provision of this document, any security or any other Credit Document, each Australian Credit Party waives its right to receive any verification statement (or notice of any verification statement) in respect of any financing statement or financing change statement relating to any security interest created under this document or any other Credit Document.
Each Australian Credit Party shall cause each deposit, securities, commodity or similar account maintained by such Person (other than (x) any payroll account so long as such payroll account is a zero balance account and withholding tax and fiduciary accounts or (y) other deposit, securities, commodity or similar accounts holding, in the aggregate, not more than $500,000 at any one time) to constitute an Australian Blocked Account.
Administrative Agent and Holdings shall have agreed to the form of the Whitewash Documents required to satisfy the requirements of section 260B of the Corporations Act in respect of each Initial Australian Credit Party which is a Whitewash Australian Entity.
Each request for release of funds from an Australian Blocked Account shall be made pursuant to a Notice of Cash Collateral Release delivered to Agent or Agent’s designee by an Australian Credit Party and agreed to and acknowledged by Borrower Representative, substantially in the form of Exhibit 1.5(d).
Each Australian Credit Party agrees that it will not cause any proceeds of any Core Australian Concentration Account to be otherwise redirected.
Any such notice by an Australian Credit Party must be given no later than 12:00 p.m. (Sydney, Australia time) on the Business Day of the proposed release of funds.