Borrower Equity Pledge definition

Borrower Equity Pledge has the meaning set forth in the definition of “Collateral and Guarantee Requirement”.
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Borrower Equity Pledge means (a) from and after the Closing Date and until the time, if any, at which the circumstances in clause (b) apply, the Pledge Agreement, and (b) at any time after a transfer of Borrower’s Equity to a New Parent in accordance with the definition of IPO Reorganization Transaction, if applicable, the substantially similar pledge agreement made by such New Parent in accordance with the definition of IPO Reorganization Transaction.
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Borrower Equity Pledge means that certain Collateral Assignment of Membership Interest executed by Borrower Member as defined below in favor of Lender, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time.
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Examples of Borrower Equity Pledge in a sentence

  • No assets of Holdings other than the Holdings’ Recourse Property shall be available to satisfy any liability of Holdings arising under the Loan Documents, whether under this Section 11, the Borrower Equity Pledge, Holdings’ undertakings set forth in Section 7.14 or otherwise.

  • The rights of the Secured Parties to satisfy the Guaranteed Obligations shall be limited to the foreclosure of (and all other rights and remedies relating to the foreclosure of) the Lien created pursuant to the Borrower Equity Pledge and the Secured Parties shall have no right to proceed directly against Holdings for the satisfaction of any Guaranteed Obligation, for any deficiency remaining from the foreclosure of the Lien created by the Borrower Equity Pledge (or any portion of any of the foregoing).

  • The Servicer shall not pledge or otherwise grant an interest in any portion of its equity interests in the Borrower to any other Person unless such Person becomes a party to the Borrower Equity Pledge Intercreditor Agreement pursuant to the terms thereof.

  • Notwithstanding the foregoing, nothing in this Section 5.21 shall impair or in any way limit any liabilities or obligations of (a) the Sponsor under or pursuant to its obligations as set forth in the Borrower Equity Pledge, or (b) any Non-Recourse Party for fraud or willful misconduct.

  • Notwithstanding the foregoing, nothing in this Section 9.13 shall impair or in any way limit any liabilities or obligations of (a) the Sponsor under or pursuant to its obligations as set forth in the Borrower Equity Pledge, or (b) any Non-Recourse Party for fraud or willful misconduct.

  • Any such Borrower Equity Pledge may be released by the Administrative Agent in advance of any such Qualifying IPO upon Borrower’s written request, solely to the extent such release is reasonably necessary in order to effect any such Qualifying IPO.

  • Lender shall have received from Borrower Member fully executed and acknowledged counterparts of the Borrower Equity Pledge, along with any acknowledgements, proxies or other documents reasonably requested by Lender in connection with such Borrower Equity Pledge, so as to effectively create valid and enforceable Liens in favor of Lender upon one hundred percent (100%) of the equity interests in Borrower.

Related to Borrower Equity Pledge

  • Equity Pledge Agreement means the Equity Pledge Agreement dated as of the Issue Date, between the Equity Pledge Guarantors and the Collateral Agent, as amended, restated, modified, supplemented, extended or replaced from time to time.

  • Subsidiary Pledge Agreement means that certain Subsidiary Pledge Agreement, dated as of the Agreement Date in favor of the Administrative Agent, for itself and on behalf of the Lenders and the Issuing Bank, substantially in the form of Exhibit N attached hereto, and shall include any similar agreements executed pursuant to Section 5.10 hereof.

  • Holdings Pledge Agreement means the Pledge Agreement of even date herewith executed by Holdings in favor of Agent, on behalf of itself and Lenders, pledging all Stock of Borrower.

  • Borrower Pledge Agreement means the Pledge Agreement of even date herewith executed by Borrower in favor of Agent, on behalf of itself and Lenders, pledging all Stock of its Subsidiaries, if any, and all Intercompany Notes owing to or held by it.

  • Canadian Pledge Agreement means a pledge agreement in a form to be agreed upon, and to be executed in favor of the Canadian Administrative Agent, for the benefit of the holders of the Canadian Borrower Obligations, by the Canadian Borrower and each Canadian Guarantor, as amended or modified from time to time in accordance with the terms hereof.

  • Company Pledge Agreement means the Company Pledge Agreement executed and delivered by Company on the Closing Date, substantially in the form of Exhibit ------- XIII annexed hereto, as such Company Pledge Agreement may thereafter be amended, ---- supplemented or otherwise modified from time to time.

  • Stock Pledge Agreements means each Stock Pledge Agreement of the Borrower and any of its Subsidiaries in substantially the form of Exhibit 4.1B, as amended, restated or supplemented from time to time.

  • Credit Support Pledge Agreement The Credit Support Pledge Agreement, dated as of November 24, 1998, among the Master Servicer, GMAC Mortgage Corporation, Combined Collateral LLC and The First National Bank of Chicago (now known as Bank One, National Association), as custodian.

  • U.S. Pledge Agreement means the pledge agreement substantially in the form of Exhibit 1.01C (it being understood that the pledgors party thereto and schedules thereto shall be reasonably satisfactory to the Administrative Agent), given by the Domestic Credit Parties, as pledgors, to the Collateral Agent to secure the Obligations, and any other pledge agreements that may be given by any Person pursuant to the terms hereof, in each case as the same may be amended and modified from time to time.

  • Foreign Pledge Agreements means each pledge agreement, charge or collateral security instrument creating a security interest in the Capital Stock of the Foreign Subsidiary Borrowers and certain other first-tier Foreign Subsidiaries of the Company, in each case, in form and substance reasonably satisfactory to the Administrative Agent, as such agreements may be amended, supplemented or otherwise modified from time to time.

  • Foreign Subsidiaries means Subsidiaries of Borrower which are organized under the laws of a jurisdiction other than the United States of America, any State of the United States or any political subdivision thereof.

  • Financial Indebtedness means any indebtedness for or in respect of:

  • Stock Pledge Agreement means a stock pledge agreement, in form and substance satisfactory to Agent, executed and delivered by each Borrower that owns Stock of a Subsidiary of Parent.

  • Parent Pledge Agreement means the parent pledge agreement dated as of the Effective Date executed in favor of the Administrative Agent, for the benefit of the Secured Parties, by the Borrower, as amended or modified from time to time in accordance with the terms hereof.

  • Foreign Subsidiary Borrower means any Eligible Foreign Subsidiary that becomes a Foreign Subsidiary Borrower pursuant to Section 2.23 and that has not ceased to be a Foreign Subsidiary Borrower pursuant to such Section.

  • Foreign Pledge Agreement means a pledge or charge agreement granting a Lien on Equity Interests in a Foreign Subsidiary to secure the Obligations, governed by the law of the jurisdiction of organization of such Foreign Subsidiary and in form and substance reasonably satisfactory to the Administrative Agent.

  • Subsidiary Pledgor or a "Pledgor" in the Pledge Agreement shall be deemed to include the New Pledgor. The Pledge Agreement is hereby incorporated herein by reference.

  • Dutch Security Documents means the Dutch Security Agreements, the Dutch Share Pledges, and each other agreement, document or instrument executed by any Loan Party governed by Dutch law which provides for a Lien in favor of the Agent as security for any of the Obligations.

  • Share Pledge Agreement has the meaning given such term in the definition of Collateral and Guaranty Requirements.

  • Foreign Subsidiary means any Subsidiary that is not a Domestic Subsidiary.

  • Domestic Obligations means all Obligations owing by the Domestic Loan Parties (other than in respect of Guarantees of Foreign Obligations pursuant to Article IV).

  • Foreign Subsidiary Holdco any Domestic Subsidiary that has no material assets other than the Capital Stock of one or more Foreign Subsidiaries, and other assets relating to an ownership interest in any such Capital Stock.

  • Non-Guarantor Subsidiaries means, as of any date of determination, a collective reference to:

  • Domestic Subsidiary Borrower any Subsidiary Borrower which is a Domestic Subsidiary.

  • Proceeds Account Pledge Agreement means the pledge agreement entered into between the Issuer and the Agent on or prior to the First Issue Date in respect of a first priority pledge over the Proceeds Account and all funds held on the Proceeds Account from time to time, granted in favour of the Agent and the Bondholders (represented by the Agent).

  • Guarantor Subsidiaries has the meaning set forth in the Recitals to this Agreement.