Canadian Borrowing Base Guarantor definition

Canadian Borrowing Base Guarantor means any Wholly Owned Subsidiary of the Canadian Borrower which may hereafter be approved by the Administrative Agents and the Collateral Agents and which (a) is organized under the laws of Canada (or any province or territory thereof), (b) is currently able to prepare all collateral reports in a comparable manner to the Borrowers’ reporting procedures and (c) has executed and delivered to the applicable Collateral Agents such joinder agreements to guarantees, contribution and set-off agreements and other Security Documents as such Collateral Agents have reasonably requested so long as such Collateral Agents have received and approved, in their reasonable discretion, (i) a collateral audit and Inventory Appraisal conducted by an independent appraisal firm reasonably acceptable to such Collateral Agents and (ii) all PPSA and similar search results necessary to confirm such Collateral Agents’ first priority Lien on all of such Canadian Borrowing Base Guarantor’s personal property, subject to Permitted Liens.
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Canadian Borrowing Base Guarantor means any wholly-owned Canadian Subsidiary of Parent (a) which is able to prepare all collateral reports in a comparable manner to Borrowers’ reporting procedures; (b) which has granted to Agent a first priority perfected Lien (subject to Permitted Liens, the Carve-Out Amount and other Liens acceptable to Agent) on all or substantially all of its personal property constituting ABL Priority Collateral to secure payment and performance of the Obligations; (c) with respect to which Agent has received all customary opinions, Code, Personal Property Security Act and Register of Personal and Moveable Real Rights (Quebec) search reports, certificates and other documents reasonably requested by Agent and such joinder agreements to this Agreement, guaranties, contribution and set-off agreements and such security agreements, pledge agreements, account control agreements and other Loan Documents reasonably requested by Agent in form and substance reasonably satisfactory to Agent; (d) whose outstanding equity interests are subject to a first priority pledge (or, prior to the Discharge of Term Obligations, a second priority pledge) in favor of Agent to secure payment and performance of the Obligations; and (e) with respect to which Agent has received and approved, in its Permitted Discretion, a collateral audit conducted by its personnel or an independent audit firm designated by Agent. As of the Closing Date, the Canadian Borrowing Base Guarantors consist of Milacron Canada Ltd.
Sample 1Sample 2
Canadian Borrowing Base Guarantor means any wholly-owned Canadian Subsidiary of Parent (a) which is able to prepare all collateral reports in a comparable manner to the Borrowers' reporting procedures; (b) which has granted to the Collateral Agent a first priority perfected Lien (subject to Permitted Liens and other Liens acceptable to the Collateral Agent) on all or substantially all of its personal property to secure payment and performance of the Obligations; (c) with respect to which the Administrative Agent has received all customary opinions, Uniform Commercial Code and Personal Property Security Act search reports, certificates and other documents reasonably requested by the Administrative Agent and such joinder agreements to this Agreement, guaranties, contribution and set-off agreements and such security agreements, pledge agreements, account control agreements and other Loan Documents reasonably requested by the Administrative Agent in form and substance reasonably satisfactory to the Administrative Agent; (d) whose outstanding equity interests are subject to a first priority pledge in favor of the Collateral Agent to secure payment and performance of the Obligations; and (e) with respect to which the Collateral Agent has received and approved, in its reasonable discretion, a collateral audit conducted by an independent audit firm designated by Collateral Agent.
Sample 1

Examples of Canadian Borrowing Base Guarantor in a sentence

  • Guaranties executed by each Subsidiary Guarantor and each Canadian Borrowing Base Guarantor in favor of Agent, for the benefit of Lenders.

  • None of the Canadian Borrowing Base Guarantor employs any employees outside of Canada.


More Definitions of Canadian Borrowing Base Guarantor

Canadian Borrowing Base Guarantor means any wholly-owned Canadian Subsidiary of Parent (a) which is able to prepare all collateral reports in a comparable manner to the Borrowers’ reporting procedures; (b) which has granted to Agent a first priority perfected Lien (subject to Permitted Liens and other Liens acceptable to Agent) on all or substantially all of its personal property constituting ABL Priority Collateral and a first priority perfected Lien (or, prior to the Discharge of Term Obligations, a second priority perfected Lien) on all or substantially all of its remaining personal property to secure payment and performance of the Obligations; (c) with respect to which Agent has received all customary opinions, Code, Personal Property Security Act and Register of Personal and Moveable Real Rights (Quebec) search reports, certificates and other documents reasonably requested by Agent and such joinder agreements to this Agreement, guaranties, contribution and set-off agreements and such security agreements, pledge agreements, account control agreements and other Loan Documents reasonably requested by Agent in form and substance reasonably satisfactory to Agent; (d) whose outstanding equity interests are subject to a first priority pledge (or, prior to the Discharge of Term Obligations, a second priority pledge) in favor of Agent to secure payment and performance of the Obligations; and (e) with respect to which Agent has received and approved, in its Permitted Discretion, a collateral audit conducted by its personnel or an independent audit firm designated by Agent. As of the Closing Date, the Canadian Borrowing Base Guarantors consist of Milacron Canada Inc., D-M-E of Canada Limited, 528650 Ontario Limited, Progress Precision Inc., 450500 Ontario Limited and 2913607 Canada Limited.
Sample 1

Related to Canadian Borrowing Base Guarantor

  • Canadian Borrowing Base means, at any time, an amount in Dollars equal to:

  • Canadian Borrower as defined in the preamble hereto.

  • Canadian Borrowers has the meaning specified in the preamble to this Agreement.

  • Domestic Borrowing Base means, at any time of calculation, an amount equal to:

  • Domestic Borrower means any Borrower organized under the laws of the United States of America or any state of the United States of America.

  • U.S. Borrower means any Borrower that is a U.S. Person.

  • Foreign Borrowing Base means, as of any date, an amount equal to:

  • Co-Borrowers means Wholly Owned Restricted Subsidiaries organized in any Applicable Jurisdiction from time to time designated by the Borrower to the Administrative Agent as “borrowers” with respect to Borrowings in accordance with Section 11.01, and “Co-Borrower” means any one of them.

  • Canadian Credit Party means the Canadian Borrower and each Canadian Subsidiary Guarantor.

  • U.S. Borrowing Base means, as of any date of determination, the result of:

  • Co-Borrower shall have the meaning assigned to such term in the introductory paragraph of this Agreement.

  • UK Borrowers shall have the meaning assigned to such term in the preamble hereto.

  • Canadian Loan Party means any Loan Party organized under the laws of Canada or any province or territory thereof.

  • U.S. Borrowers shall have the meaning provided in the first paragraph of this Agreement.

  • Subsidiary Borrowers as defined in the preamble hereto.

  • UK Borrower means any Borrower (i) that is organized or formed under the laws of the United Kingdom or (ii) payments from which under this Agreement or any other Loan Document are subject to withholding Taxes imposed by the laws of the United Kingdom.

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

  • Canadian Loan Parties means the Canadian Borrower and the Canadian Guarantors.

  • Domestic Credit Party means any Credit Party that is organized under the laws of any State of the United States or the District of Columbia.

  • 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 Borrowers means the Canadian Borrower, the Dutch Borrower, and the U.K. Borrowers.

  • Domestic Loan Party means any Loan Party organized under the laws of any state of the United States of America or the District of Columbia.

  • Domestic Loan Parties means, collectively, the Company and the Guarantors.

  • Dutch Borrower means any Borrower that is organized under the Laws of The Netherlands.

  • Borrower Group has the meaning provided in Section 10(c) hereof.

  • Foreign Borrower means any Borrower that is organized under the laws of a jurisdiction other than the Unites States, a state thereof or the District of Columbia.