Holding Entities definition
Examples of Holding Entities in a sentence
Neither the Holding Entities, the Borrowers nor any Restricted Subsidiary nor, to the knowledge of the Borrowers, any director, officer or employee of the Holding Entities, the Borrowers or any of the Restricted Subsidiaries, is currently the subject of any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Treasury Department (“OFAC”) or other relevant sanctions authority (such sanctions, “Sanctions”).
To the fullest extent permitted by law, each of the Borrowers and the Holding Entities hereby waives and releases any claims that it may have against the Agents, the Arrangers or any Lender with respect to any breach or alleged breach of agency or fiduciary duty in connection with any aspect of any transaction contemplated hereby.
Notwithstanding that a Letter of Credit issued or outstanding hereunder is in support of any obligations of, or is for the account of, Holding Entities or a Subsidiary of the Borrowers, the Borrowers shall be obligated to reimburse, or cause to be reimbursed, the applicable Issuing Bank hereunder for any and all drawings under such Letter of Credit.
There are no actions, suits, proceedings, claims or disputes pending or, to the knowledge of the Borrowers, overtly threatened in writing, at law, in equity, in arbitration or before any Governmental Authority, by or against the Holding Entities, the Borrowers or any of the Restricted Subsidiaries that would reasonably be expected to have a Material Adverse Effect.
The Borrowers hereby acknowledge that the issuance of Letters of Credit for the account of the Holding Entities or any Subsidiary inures to the benefit of the Borrowers, and that the Borrowers’ businesses derive substantial benefits from the businesses of the Holding Entities and each Subsidiary.