Ineligible Institutions definition

Ineligible Institutions means (a) a Competitor, (b) those other entities designated in writing by the Administrative Borrower, delivered to the Collateral Agent and agreed to by the Collateral Agent or (c) in the case of clauses (a) and (b), any of their respective Affiliates that are (i) readily identifiable as Affiliates on the basis of their name or (ii) identified by name by the Administrative Borrower to the Collateral Agent in writing from time to time.
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Ineligible Institutions means (a) a Competitor, (b) those other entities designated in writing by the Administrative Borrower, delivered to the Administrative Agent and agreed to by the Required Lenders or (c) in the case of clauses (a) and (b), any of their respective Affiliates that are (i) readily identifiable as Affiliates on the basis of their name or (ii) identified by name by the Administrative Borrower to the Administrative Agent in writing from time to time.
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Ineligible Institutions means (a) the 21 entities identified by name in the letter delivered by the Borrower to the Administrative Agent on June 3, 2016, as such list may be modified in writing by the Borrower from time to time thereafter (x) to include operating companies that are actual competitors of the Borrower without the written consent of the Required Lenders and (y) otherwise with the written consent of the Required Lenders in their sole discretion, and (b) any reasonably identifiable Affiliate (solely on the basis of its name) of, and if applicable, any reasonably identifiable fund of or other entity managed by (in the case of such fund or such other entity solely on the basis of its name) any of the persons identified pursuant to clause (a) above. Notwithstanding the foregoing and notwithstanding item 22 in such letter, Ineligible Institutions shall not include any affiliate of, or subsidiary or controlling equity holder of, any of the entities identified by the Borrower except as herein provided.
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Examples of Ineligible Institutions in a sentence

  • The Administrative Agent shall not be responsible or have any liability for, or have any duty to ascertain, inquire into, monitor or enforce, compliance with the provisions hereof relating to Ineligible Institutions.

  • Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this subsection shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with Section 10.6(f) or, in the case of Ineligible Institutions, any such assignment would be void ab initio.

  • Commitment Increases and Incremental Loans may provided on a non pro-rata basis by one or more Lenders and/or other Persons (other than Ineligible Institutions) reasonably acceptable the Company.

  • The list of Ineligible Institutions will remain on file with the Administrative Agent, and will be made available to any Lender upon request to the Administrative Agent, but the Administrative Agent shall have no responsibility or liability for monitoring or enforcing the list of Ineligible Institutions or for any assignment or participation to an Ineligible Institution.

  • To achieve the full amount of a requested increase and subject to the approval of the Administrative Agent, the Issuing Bank and the Swingline Lender (which approvals shall not be unreasonably withheld), the Borrower may also invite additional assignees that are not Ineligible Institutions to become Lenders pursuant to a joinder agreement in form and substance satisfactory to the Administrative Agent and its counsel.

  • The Administrative Agent shall not be responsible or have any liability for, or have any duty to ascertain, inquire into, monitor or enforce, compliance with the provisions hereof relating to Ineligible Institutions or Disqualified Institutions.

  • The expiration date for being on the List of Ineligible Institutions for "Failure to Participate in Auctions" shall be the day immediately preceding the second List Review Date immediately following the most recent Auction Date with respect to the most recent entry included on the List of Missed Auctions for such Participating Institution.

  • Each Bank shall have the right, subject to the further provisions of this Sections 12.3, to sell or assign all or any part of its Term Loan, Note, and other rights and obligations under this Agreement and related documents (such transfer, an “Assignment”) to any commercial lender, other financial institution or other entity other Ineligible Institutions (an “Assignee”).

  • Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this subsection shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with the terms hereof or, in the case of Ineligible Institutions, any such assignment would be void ab initio.

  • The expiration date for being on the List of Ineligible Institutions for "Failure to Participate in Regional Auctions" shall be the day immediately preceding the second List Review Date immediately following the most recent Auction Date with respect to the most recent entry included on the List of Missed Auctions for such Participating Institution and for the relevant Region.


More Definitions of Ineligible Institutions

Ineligible Institutions means (a) the persons identified in writing by the Borrower to the Agent on or prior to June 3, 2016, as such list may be modified from time to time thereafter with the consent of the Agent in its sole discretion, and (b) any reasonably identifiable affiliate (solely on the basis of its name) of, and, if applicable, any reasonably identifiable fund or other entity managed by (in the case of such fund or such other entity, solely on the basis of its name) of any person identified pursuant to clause (a) above.
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Ineligible Institutions means (a) the persons identified in writing by the Borrower to the Agent on or prior to June 3, 2016, as such list may be modified from time to time thereafter with the consent of the Agent in its sole discretion, and (b) any reasonably identifiable affiliate (solely on the basis of its name) of, and, if applicable, any reasonably identifiable fund or other entity managed by (in the case of such fund or such other entity, solely on the9
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Ineligible Institutions as defined in Section 10.6(b).
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Related to Ineligible Institutions

  • Ineligible Institution has the meaning assigned to such term in Section 9.04(b).

  • Eligible Institution Any of the following:

  • Disqualified Institutions means those Persons (the list of all such Persons, the “Disqualified Institutions List”) that are (i) identified in writing by the Borrower to the Administrative Agent prior to the initial allocation of the Loans to be funded on the Closing Date, (ii) competitors of the Borrower and its Subsidiaries (other than bona fide fixed income investors or debt funds) that are identified in writing by the Borrower from time to time or (iii) Affiliates of such Persons set forth in clauses (i) and (ii) above (in the case of Affiliates of such Persons set forth in clause (ii) above, other than bona fide fixed income investors or debt funds) that are either (a) identified in writing by the Borrower from time to time or (b) clearly identifiable on the basis of such Affiliate’s name; provided, that, to the extent Persons are identified as Disqualified Institutions in writing by the Borrower to the Administrative Agent after the Closing Date pursuant to clauses (ii) or (iii)(a), the inclusion of such Persons as Disqualified Institutions shall not retroactively apply to prior assignments or participations in respect of any Loan under this Agreement. Until the disclosure of the identity of a Disqualified Institution to the Lenders generally by the Administrative Agent in writing, such Person shall not constitute a Disqualified Institution for purposes of a sale of a participation in a Loan (as opposed to an assignment of a Loan) by a Lender; provided, that no disclosure of the Disqualified Institutions List (or the identity of any Person that constitutes a Disqualified Institution), in part or in full, to the Lenders shall be made by the Administrative Agent without the prior written consent of the Borrower. Notwithstanding the foregoing, the Borrower, by written notice to the Administrative Agent, may from time to time in its sole discretion remove any entity from the Disqualified Institutions List (or otherwise modify such list to exclude any particular entity), and such entity removed or excluded from the Disqualified Institutions List shall no longer be a Disqualified Institution for any purpose under this Agreement or any other Loan Document.

  • Charitable Institution shall refer to an organization described in section 501(c)(3) of the Code (or any corresponding provision of a future United State Internal Revenue law) which is exempt from income taxation under section 501(a) thereof; and (iii) “presumptive remaindermen” shall refer to those Persons entitled to a share of a trust’s assets if it were then to terminate.

  • Qualified Institution means a depository institution organized under the laws of the United States of America or any state thereof or incorporated under the laws of a foreign jurisdiction with a branch or agency located in the United States of America or any state thereof and subject to supervision and examination by federal or state banking authorities that at all times has the Required Rating and, in the case of any such institution organized under the laws of the United States of America, whose deposits are insured by the FDIC.

  • Disqualified Institution means (a) any Person that has been identified in writing to the Administrative Agent prior to the Effective Date as a “Disqualified Institution”, (b) any Person that is a competitor of the Borrower or any of its Subsidiaries that has been identified in writing to the Administrative Agent from time to time as a competitor and a “Disqualified Institution” by the Borrower (each, a “Competitor”), (c) any Person with a long term unsecured credit rating of less than BBB- by S&P or Fitch Ratings Ltd. (or any successor thereto) or less than Baa3 by Moody’s, (d) any hedge fund that directly or indirectly holds any equity or debt instruments issued by any Competitor and (e) any Person (including an Affiliate or Approved Fund of a Lender) whose primary activity is (i) the trading or acquisition of distressed debt or (ii) “loan to own” investment strategies; provided that (i) any Person that becomes a “Disqualified Institution” after the applicable Trade Date with respect to an assignment or participation shall not retroactively be deemed a “Disqualified Institution” for purposes of such assignment or participation or any previously acquired assignment or participation (but such Person shall not be able to increase its Commitments or participations hereunder), (ii) such assignment or participation and, in the case of an assignment, the execution by the Borrower of an Assignment and Assumption with respect to such assignee, will not by itself result in such assignee no longer being considered a “Disqualified Institution”; provided, however, that, in each case, the term “Disqualified Institution” shall not include any person that has been identified in writing to the Administrative Agent from time to time by the Borrower as no longer constituting a “Disqualified Institution” and (iii) clause (c) and (e) above shall not apply at any time that a Specified Event of Default has occurred and is continuing.

  • Designated Bank Account means the relevant bank account designated by each Holder;

  • Controlled Deposit Account means each deposit account (including all funds on deposit therein) that is the subject of an effective Control Agreement and that is maintained by any Loan Party with a financial institution approved by the Administrative Agent.

  • Home Institution means the institution where the student is currently enrolled as a degree seeking student and may be eligible for financial aid at the same institution.

  • Ineligible Account means an Account that at the time of determination is not an Eligible Account.

  • Cash Management Account has the meaning set forth in Section 2.7(a).

  • Financial institution means a Custodial Institution, a Depository Institution, an Investment Entity, or a Specified Insurance Company.

  • approved institution means an entity so named in a Certificate, as hereinafter defined. From time to time, the Fund may amend a previously delivered Certificate by delivering to the Transfer Agent a Certificate naming an additional entity or deleting any entity named in a previously delivered Certificate.

  • qualified institutional buyer" as defined in Rule 144A.

  • Approved Deposit Account means a Deposit Account that is the subject of an effective Deposit Account Control Agreement and that is maintained by any Loan Party with a Deposit Account Bank. “Approved Deposit Account” includes all monies on deposit in a Deposit Account and all certificates and instruments, if any, representing or evidencing such Deposit Account.

  • Eligible Deposit Account means either (a) a segregated account with an Eligible Institution or (b) a segregated trust account with the corporate trust department of a depository institution organized under the laws of the United States of America or any one of the states thereof or the District of Columbia (or any domestic branch of a foreign bank), having corporate trust powers and acting as trustee for funds deposited in such account, so long as any of the securities of such depository institution shall have a credit rating from each Rating Agency in one of its generic rating categories that signifies investment grade.

  • the institution means the institution which the Corporation is established to conduct and any institution for the time being conducted by the Corporation in exercise of its powers under the Further and Higher Education Act 1992;

  • Designated Deposit Account is Borrower’s deposit account, account number , maintained with Bank.

  • Custodial Accounts Each custodial account (other than an Escrow Account) established and maintained by a Servicer pursuant to a Purchasing and Servicing Agreement or Servicing Agreement, as applicable.

  • Concentration Account has the meaning provided in Section 6.13(c).

  • Concentration Accounts has the meaning ascribed to it in Annex C.

  • Custodial Account The separate account or accounts created and maintained pursuant to Section 4.04.

  • Eligible Instruments means monetary assets, money market instruments and securities that are payable in Dollars only and essentially risk free as to collection of principal and interest, including U.S. Government Obligations.

  • Collateral Deposit Account shall have the meaning set forth in Section 7.1(a).

  • Funding Accounts has the meaning assigned to such term in Section 4.01(h).

  • Cash Management Accounts means the bank accounts of each Loan Party maintained at one or more Cash Management Banks listed on Schedule 8.01.