Escrow Borrower definition

Escrow Borrower means an Unrestricted Subsidiary established to borrow Escrow Permitted Ratio Debt or Escrow Incremental Term Loans (pending assumption of such Escrow Permitted Ratio Debt or Escrow Incremental Term Loans by the Borrower) and that is not engaged in any material operations and does not have any other material assets other than in connection therewith.

Escrow Borrower a Non-Recourse Subsidiary or another Person that is not the Borrower or a Subsidiary, in each case, established to (i) borrow Escrow Incremental Term Loans (pending assumption of such Incremental Term Loans by the Borrower) or (ii) assume the obligations of the Borrower with respect to previously incurred Incremental Term Loans, in each case, that is designated in the applicable Incremental Activation Notice or assumption agreement as an Escrow Borrower and that is not engaged in any material operations and does not have any other material assets other than in connection therewith.

Escrow Borrower as defined in Subsection 2.8(a).

Examples of Escrow Borrower in a sentence

• The Escrow Borrower has not had and currently does not have any Subsidiaries.

• Although it is usually desirable to have one operator only for a mine, there may be circumstances where there are good reasons to appoint more than one operator at a single mine.

• The proceeds of the Loans, if released to the Escrow Borrower in accordance with the Escrow Agreement, will be used only (a) together with the proceeds of the ABL Facility, if drawn, and cash on hand at the Borrower, the Target and their respective Subsidiaries, to finance the Transactions and (b) for working capital needs and general corporate purposes.

• The Administrative Agent shall have received a certificate of the secretary, assistant secretary or other Authorized Officer of each Loan Party dated the Acquisition Effective Date, substantially in the form delivered by the Escrow Borrower to the Administrative Agent on the Closing Date, and with appropriate resolutions relating to the applicable Transactions.

• The Escrow Borrower is a Delaware limited liability company, formed on January 11, 2016 and is a wholly-owned direct or indirect Subsidiary of Staples, formed by or on behalf of Staples for the purpose of borrowing the Initial Loans to be held pursuant to the Escrow Agreement and used in connection with the consummation of the Acquisition.

More Definitions of Escrow Borrower

Escrow Borrower means the “Borrower” as defined in the Escrow Term Loan Agreement.

Escrow Borrower means Orchestra Borrower, LLC, a Delaware limited liability company.

Escrow Borrower means a Person that is a U.S. entity and is not the Borrower established to (i) borrow Escrow Incremental Term Loans pending assumption of such Incremental Term Loans by the Borrower or (ii) assume the obligations of the Borrower with respect to previously incurred Incremental Term Loans, in each case, that is designated in the applicable Incremental Amendment or assumption agreement as an Escrow Borrower and that is not engaged in any material operations and does not have any other material assets other than in connection therewith.

Escrow Borrower has the meaning specified in Section 2.14(a).

Escrow Borrower shall have the meaning assigned to such term in the introductory statements hereto.

Escrow Borrower means CommScope Finance LLC, a limited liability company organized under the laws of Delaware and a direct Wholly Owned Subsidiary of the Issuer.

Escrow Borrower has the meaning assigned to such term in the Preamble hereto.