Borrower Competitor any Person that (i) competes with or (ii) is an Affiliate of a Person that competes with the business of the Borrower and its Subsidiaries.
Borrower Competitor means each of the entities identified as a “Borrower Competitor” in writing to the Administrative Agent prior to the Closing Date and any other Person that is a competitor of the Borrower or any of its Subsidiaries (or an affiliate of such competitor) designated by the Borrower as a “Borrower Competitor” by written notice delivered to the Administrative Agent and approved by the Administrative Agent (such approval not to be unreasonably withheld or delayed) from time to time and any of such Person’s affiliates that are readily identifiable as such by their names; provided that “Borrower Competitors” shall exclude any Person that the Borrower has designated as no longer being a “Borrower Competitor” by written notice delivered to the Administrative Agent from time to time. The list of Borrower Competitors shall be made available to any Lender upon written request to the Administrative Agent. In no event shall a supplement to the list of Borrower Competitors apply retroactively to disqualify any Persons that have previously acquired an assignment or participation interest in the Loans that was otherwise permitted prior to such permitted supplementation.
Borrower Competitor has the meaning set forth in Section 9.06(c).
Examples of Borrower Competitor in a sentence
No such assignment shall be made to (A) the Borrower or any of the Borrower’s Affiliates or Subsidiaries or (B) to any Defaulting Lender or any of its Subsidiaries, or any Person who, upon becoming a Lender hereunder, would constitute a Defaulting Lender or a Subsidiary thereof or (C) (without the consent of the Borrower) to any Person who is, at the time of such assignment, a Borrower Competitor.
No such assignment shall be made to (A) the Borrower or any Affiliates or Subsidiaries of the Parent Guarantor or (B) to any Defaulting Lender or any of its Subsidiaries, or any Person who, upon becoming a Lender hereunder, would constitute a Defaulting Lender or a Subsidiary thereof or (C) (without the consent of the Borrower) to any Person who is, at the time of such assignment, a Borrower Competitor.
Without limiting the generality of the foregoing, the Administrative Agent shall not (x) be obligated to ascertain, monitor or inquire as to whether any Lender or participant or prospective Lender or participant is a Company Competitor or (y) have any liability with respect to or arising out of any assignment or participation of Term Loans, or disclosure of confidential information, to, or the restriction on any exercise of rights or remedies of, any Borrower Competitor.
No such assignment shall be made to (A) the Borrowers or any Affiliates or Subsidiaries of the Parent Guarantor or (B) to any Defaulting Lender or any of its Subsidiaries, or any Person who, upon becoming a Lender hereunder, would constitute a Defaulting Lender or a Subsidiary thereof or (C) (without the consent of the Borrowers) to any Person who is, at the time of such assignment, a Borrower Competitor.
More Definitions of Borrower Competitor
Borrower Competitor means those Persons whose primary business consists of operating restaurants who are identified in writing by the Borrower to the Administrative Agent prior to the Closing Date, as such list may be supplemented after the Closing Date as reasonably agreed by the Administrative Agent.
Borrower Competitor means, on any date, any Person (other than any Loan Party or any Loan Party’s Affiliates or Subsidiaries) that (a) is engaged, directly or indirectly, as one of its principal businesses in owning, leasing (as lessor) and/or operating one or more Clean Energy Systems, and (b) either (x) is listed on Schedule 10.2 as of the Closing Date, or (y) has been (i) designated by the Borrower as a “Borrower Competitor” after the Closing Date by written notice to the Administrative Agent (which written notice shall specify such Person by exact legal name)
Borrower Competitor after the Closing Date by written notice to the Administrative Agent (which written notice shall specify such Person by exact legal name)
Borrower Competitor shall exclude (A) any Lender or any Affiliate of a Lender, (B) any Person that the Borrower has designated as no longer being a “Borrower Competitor” by written notice delivered to the Administrative Agent from time to time, (C) any bona fide debt fund or investment vehicle that is engaged in making, purchasing, holding, or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of business that is managed, sponsored, or advised by any Person Controlling, Controlled by or under common Control with such Borrower Competitor or its Controlling owner and for which no personnel involved with the competitive activities of such Borrower Competitor or Controlling owner (x) makes any investment decisions for such debt fund or (y) has access to any confidential information (other than publicly available information) relating to Holdings and its Subsidiaries, and (D) any private equity firm, investment fund or other vehicle or any of its Affiliates (other than a portfolio company that is described in clause (a) of this definition and is a direct competitor of a Group Member). “Business Day” means any day of the year that is not a Saturday, Sunday or a day on which banks are required or authorized to close in New York City or any day on which banking institutions or trust companies in New York City are authorized or obligated by law, regulation or executive order to remain closed. “Capital Expenditures” means with respect to any Person, expenditures and costs (whether paid in cash or accrued as liabilities) by such Person for the construction, acquisition or leasing (pursuant to a Capital Lease) of fixed or capital assets or additions to equipment (including replacements, capitalized repairs and improvements) that are required to be capitalized under GAAP on a balance sheet of such Person. “Capital Lease” means with respect to any Person, expenditures and costs (whether paid in cash or accrued as liabilities) by such Person for the construction, acquisition or leasing (pursuant to a capital lease) of fixed or capital assets or additions to equipment (including replacements, capitalized repairs and improvements) that are required to be capitalized under GAAP on a balance sheet of such Person. “Cash Collateral Account” means any Controlled Deposit Account and any Controlled Securities Account. “Cash Equivalents” means: (a) U.S. Dollars, (b) securities issued or directly and fully guaranteed or insured by the government of the Unit...
Borrower Competitor means (i) each Person identified on Schedule G hereto and (ii) any Person engaged in a substantially similar business as Borrower, Holdings and/or Enova, provided, however, any such Person that is an Eligible Assignee and not identified on Schedule G shall not be considered a “Borrower Competitor” for any purpose hereunder.
Borrower Competitor means any of the following Persons whose primary business is the purchase, operation, management of or investment in commercial properties including any Person which acquires interests in debt secured by commercial real estate for the primary purpose of acquiring direct ownership in the properties securing such debt: Industrial Income Trust, Inc., KTR Capital Partners, Cabot Properties, Blackstone, DCT Industrial Trust, First Industrial Realty Trust, EastGroup Properties Inc., and Monmouth Real Estate Investment Corporation. Borrower shall be entitled to update the foregoing list of Borrower Competitors on an annual basis, which shall be subject to Lender’s approval (not to be unreasonably withheld, conditioned or delayed), to reflect then current Borrower Competitors, who in Borrower’s reasonable judgment, meet the qualifications described above.
Borrower Competitor means any Person which is a direct competitor of Borrower or its Subsidiaries if, at the time of a proposed assignment, Administrative Agent and the assigning Lender have actual knowledge that such Person is a direct competitor of Borrower or its Subsidiaries; provided, that in connection with any assignment or participation, the assignee or Participant with respect to such proposed assignment or participation that is an investment bank, a commercial bank, a finance company, a fund, or other Person which merely has an economic interest in any such direct competitor, and is not itself such a direct competitor of Borrower or its Subsidiaries, shall not be deemed to be a direct competitor for the purposes of this definition.