Borrower Merger definition

Borrower Merger means the merger of Merger Sub with and into Target Opco, with Target Opco being the surviving corporation of the Borrower Merger.

Borrower Merger means a transaction pursuant to which BCC shall merge with and into Beneficient Trust Company in accordance with Section 7.04(a).

Borrower Merger means any transaction or a series of related transactions for the direct or indirect acquisition by a Borrower or any other member of its Obligor Group (such Person, the “Surviving Obligor” and, the Borrower that either is the Surviving Obligor (including the ultimate Surviving Obligor as a result of a second-step merger) or is the direct or indirect parent of the Surviving Obligor, as applicable, the “Surviving Borrower”) of another Borrower (such other Borrower, a “Non-Surviving Borrower”, and together with any other member of its Obligor Group that will not survive such transaction, each a “Non-Surviving Obligor”); provided that such transaction or series of related transactions (w) is permitted under Section 6.03, (x) results in substantially all assets of each Non-Surviving Obligor being assumed or acquired by a Surviving Obligor, (y) does not result in a Change in Control of the Surviving Borrower and (z) as a matter of law or pursuant to the express terms of the agreement or certificate effectuating such merger or consolidation, the obligations of each Non-Surviving Obligor under this Agreement and each of the other Loan Documents (other than the Security Documents) to which such Non-Surviving Obligor (and, to the extent applicable, the other members of its Obligor Group) is a party are assumed by the applicable Surviving Obligor (it being the understanding that in connection with any merger or consolidation effectuated in reliance on Section 6.03(e), the obligations of each Non-Surviving Obligor under this Agreement and each of the other Loan Documents (other than the Security Documents) to which such Non-Surviving Obligor is a party shall be deemed automatically assumed hereunder by the applicable Surviving Obligor pursuant to Section 9.20). A “Borrower Merger” will also include any “cash election” merger, any “second-step” merger whereby a Surviving Obligor that is not a Borrower merges or consolidates with and into the Surviving Borrower and any cash paid on account of fractional shares in connection with any such transaction.

Examples of Borrower Merger in a sentence

• For purposes of this Agreement, such Borrower, in its reasonable determination, shall assign (including in connection with a Borrower Merger) each Portfolio Investment owned by it or any other member of its Obligor Group to an Industry Classification Group.

• Each Lender authorizes and instructs the Administrative Agent to, concurrently with and immediately after the effectiveness of any Borrower Merger, amend Schedule I to reflect the aggregate amount of each Lender’s aggregate Commitments and such Lender’s Subcommitments with respect to each Borrower.

• Upon the consummation of a Borrower Merger, at the request of the Surviving Borrower, each Lender shall promptly return each promissory note (if any) of each Non-Surviving Obligor in its possession to the Surviving Borrower (or provide a certification to the Surviving Borrower that such promissory note has been lost or destroyed).

• Concurrently with the execution of this Agreement, Borrower, Lender and Arrow Acquisition Corp., a Delaware corporation and a wholly owned subsidiary of Borrower ("Merger Sub"), are entering into an Agreement and Plan of Merger of even date herewith (the "Merger Agreement") that provides for the merger of Merger Sub with and into Lender (the "Merger").

• Neither FSIC II nor FSIC III may at any time as a result of a reallocation under this clause (iii) hold Subcommitments in excess of 65% of the total Commitments hereunder unless such Borrower is the Surviving Borrower in a Borrower Merger.

More Definitions of Borrower Merger

Borrower Merger means any transaction or a series of related transactions for the direct or indirect acquisition by the Borrower of MMLC. A “Borrower Merger” will also include any “cash election” merger, any “second-step” merger whereby MMLC merges or consolidates with and into the Borrower and any cash paid on account of fractional shares in connection with any such transaction.

Borrower Merger has the meaning specified in the definition of Permitted Merger Transaction.

Borrower Merger means the transaction in which, immediately following the occurrence of the Parent Merger, GGC USS Borrower Co., Inc., a Delaware corporation, will merge with and into Company.

Borrower Merger shall have the meaning assigned in Amendment No. 2.

Borrower Merger means the consummation of the merger of the Initial Borrower with and into DBI, with DBI being the surviving entity, immediately following the Assumption.

Borrower Merger the merger of the Village Farms Entities into Borrower with Borrower as the surviving entity.

Borrower Merger means the merger of Newco with and into the Borrower, with the Borrower being the surviving corporation at such merger.