Borrower SPV definition
Examples of Borrower SPV in a sentence
This Clause 35 shall only apply in relation to any Borrower SPV which is a Take-Out Borrower.
To the maximum extent allowed by applicable Law, each Lender hereby expressly agrees that it shall not take any corporate action or other steps or legal proceedings for the winding-up, dissolution, arrangement, reconstruction or reorganisation of any Borrower SPV or for the appointment of a liquidator, receiver, administrative receiver, administrator, trustee, manager or similar officer in respect of any Borrower SPV or over any or all of its assets or undertaking.
No Borrower SPV shall finance any Vehicle Fleet in Germany until steps satisfactory to the Facility Agent and the Security Agent have been taken.
For the avoidance of doubt, to the extent that (a) the Italian Tranche is fully prepaid by a Borrower SPV under Clause 11.3 (Mandatory Prepayment in Full) and (b) the Euro Tranche is not prepaid by a Borrower SPV under Clause 11.3 (Mandatory Prepayment in Full), the Total Commitments shall not be reduced and Clause 2B.5 (Rebalancing Process) shall apply on the date of the prepayment (the “Cancellation Rebalancing Date”).
Any Obligor (other than the Parent) changes, suspends or ceases to carry on (or threatens to suspend or cease to carry on) all or any material part of the business of such Obligor, other than by transfer of business to a Borrower SPV.
Each Borrower SPV and each Opco agrees that it will not agree to increase the FleetCo Profit Margin (as defined in the Master Definitions Schedule) to an amount exceeding 0.0004 without the prior written consent of the Facility Agent.
The relevant Borrower SPV shall cease to have any obligations under the Senior Finance Documents and shall cease to be an Obligor, Borrower or Guarantor for the purposes of the Senior Finance Documents.