Examples of Foamex Canada in a sentence
Each of the Borrowers and Foamex Canada shall perform a physical count of its Inventory no less frequently than once each fiscal month if such Inventory is located at a site at which the Borrowers or Foamex Canada, as the case may be, have not implemented a perpetual Inventory system that is satisfactory to the Administrative Agent in its reasonable discretion.
The Pledged Collateral constitutes all of the equity interests owned by such Grantor in any of the issuers listed on Schedule 2 or, in the case of Voting Stock or similar equity interests held by such Grantor in a Subsidiary not organized under the laws of a State within the United States (other than Foamex Canada), 65% of such Voting Stock or similar equity interests.
Borrower and, upon becoming a Loan Party hereunder, Foamex Canada, shall not and shall not permit its Subsidiaries to establish or maintain any deposit account (excluding payroll accounts) or securities account unless the Administrative Agent shall have received a control agreement in respect of such deposit account or securities account in accordance with the timelines set forth on Schedule 7.13.
The Administrative Agent agrees that it shall conduct one field audit or examinations with respect to the Accounts of Borrower and Foamex Canada during each of (i) the period commencing on the Closing Date and ending 90 days after the Closing Date and (ii) each 90-day period thereafter through the Termination Date.
Foamex L.P. will be the named borrower under the Exit Facilities, with each of the other surviving Debtors and Foamex Canada Inc., as guarantors.
At the Closing, Foamex Canada and Purchaser shall jointly execute an election under section 167 of the Excise Tax Act (Canada) and an election under section 75 of an Act Respecting the Québec Sales Tax following the prescribed form and including the prescribed information, such that no goods and services tax ("GST") or Québec sales tax ("QST") shall be payable in connection with the purchase and sale of the Purchased Assets of Foamex Canada pursuant to the provisions of this Agreement.
The Administrative Agent and the Lenders shall have had an opportunity, if they so choose, to examine the books of account and other records and files of the Loan Parties and to make copies thereof, and to conduct a pre-closing audit which shall include, without limitation, verification of Accounts and the Borrowing Base of each Borrower and Foamex Canada, and the results of such examination and audit shall have been satisfactory to the Administrative Agent and the Lenders in all respects.
The Administrative Agent agrees that it shall conduct no less than two field audits or examninations with respect to the Accounts and Inventory of the Borrowers and Foamex Canada during each of (i) the period commencing on the Closing Date and ending on the day immediately preceding the first Anniversary Date and (ii) each subsequent one year period thereafter through the one year period in which this Agreement is terminated.
Notwithstanding any provision herein to the contrary, the Loan Parties may pay any franchise (and similar) taxes incurred prior to the Filing Date (or the date the first CCAA Order is issued, in the case of Foamex Canada) necessary to maintain their existence and qualification or good standing in the respective jurisdictions of their incorporation or organization and in all other jurisdictions in which qualification to do business as a foreign corporation or other entity is necessary.
Notwithstanding any provision herein to the contrary, the Loan Parties may pay any franchise (and similar) taxes incurred prior to the Filing Date (the date the first CCAA Order is issued, in the case of Foamex Canada) necessary to maintain their existence and qualification or good standing in the respective jurisdictions of their incorporation or organization and in all other jurisdictions in which qualification to do business as a foreign corporation or other entity is necessary.