Eligible SPV definition
Eligible SPV means a special purpose vehicle that disclosures its [structure, usage, purpose and performance in its financial statements.] [Terms of the reporting requirements to be clarified.]
Eligible SPV means any SPV (a) which is the owner of a Vehicle Fleet, (b) which benefits directly from all Vehicle Manufacturer Purchase Agreements, Vehicle Dealer Purchase Agreements, Vehicle Manufacturer Buy-Back Agreements, Vehicle Dealer Buy-Back Agreements and/or insurance policies relating to such Vehicle Manufacturer Buy-Back Agreements and Vehicle Dealer Buy-Back Agreements, and all Vehicle Manufacturer Guarantees (if any), in each case in respect of its Vehicle Fleet, (c) which has entered into leasing and other related operational agreements with its Related Opco upon terms reasonably satisfactory to the Facility Agent and (d) in respect of which the Co-ordinator has confirmed that satisfactory due diligence has been completed;
Eligible SPV means a Person that (i) is a Subsidiary of Holdings and (ii) has in its Organizational Documents provisions substantially similar to or having a substantially similar effect as, the provisions set forth on Exhibit A.
Examples of Eligible SPV in a sentence
Following execution of such documentation, pursuant to the terms of the License Agreement, we would ask that the registrations for the Licensed Marks for the Option Countries be transferred to an Eligible SPV.
The Parties agree that paragraph (b) of Clause 21 (Acceding Borrowers) shall be amended by the insertion of “and Guarantor” after “had such Eligible SPV been an original Party as a Borrower”.
Avis Europe may request that on or following the date of this Agreement an Eligible SPV becomes an Acceding Borrower under the Facility by delivering to the Facility Agent a Borrower Accession Notice subject to the terms and the provisions of paragraph (b) below, together with the documents listed in Part 1 of Schedule 6 (Conditions Precedent) in relation to such Acceding Borrower.
More Definitions of Eligible SPV
Eligible SPV means a single purpose corporate entity organized and existing under the laws of the State of Delaware the sole assets of which shall consist of any and all FCC Licenses necessary for the conduct of the Telecommunications Business of the Parent and its Subsidiaries; provided that (a) such corporate entity shall be a wholly owned subsidiary of the Borrower and shall be a Loan Party for purposes of the Loan Documents, (b) the constituent documents of such corporate entity shall be in customary form and the operations of such corporate entity shall be conducted, in each case so as to avoid substantive consolidation with the bankruptcy estate of the Borrower or any other Loan Party and otherwise in form and substance reasonably satisfactory to the Administrative Agent, (c) the Equity Interests of such corporate entity shall constitute Pledged Equity for purposes of the Collateral Documents, and (d) such corporate entity shall not incur, assume or suffer to exist any Debt (other than pursuant to the Loan Documents).
Eligible SPV means (i) each Subsidiary listed on Schedule 1.2 for so long as such Subsidiaries meet the criteria set forth in the subclauses (other than subclause (e)) set forth in clause (ii) of this definition, and (ii) any other special purpose Domestic Subsidiary of the Company that (a) is a borrower under secured Indebtedness incurred from time to time to finance a portfolio of Receivables originated by the Company or the Receivables Account Bank, (b) is not subject to a breach or default if the effect of such breach or default is to cause, or to permit the holders of the secured Indebtedness to cause that secured Indebtedness to become or be declared due and payable prior to its stated maturity, in each case beyond the applicable grace period, (c) is not in a state of early or rapid amortization or acceleration of any Indebtedness, (d) in connection with secured Indebtedness, the Company has not been removed from its capacity as “servicer” and replaced with a third-party successor servicer, (e) with respect to any special purpose Domestic Subsidiary of the Company not in existence as of the Closing Date, the Administrative Agent has approved the designation of such special purpose Subsidiary as an Eligible SPV, with such approval not to be unreasonably withheld, delayed or conditioned and (f) the inclusion of which as Collateral would not result in a violation of any applicable regulatory risk retention requirements. Any Subsidiary set forth in the foregoing clause (i) or (ii) shall only be an Eligible SPV for so long as the pledge of such Subsidiary’s Capital Stock to the Collateral Agent is perfected and such pledge is not prohibited by any applicable Requirement of Law or such Person’s organizational documents or other contractual obligations and such pledge does not require any third-party consent that has not been obtained.