Initial Borrowers definition
Examples of Initial Borrowers in a sentence
To the Initial Borrowers’ knowledge, no Lender is an “affiliated person”, or an affiliated person of an affiliated person, of the Initial Borrowers (within the meaning of Section 2(a)(3) of the Investment Company Act).
No later than five (5) Business Days prior to the effective date of a Liquidity Event, the Initial Borrowers shall provide Administrative Agent with notice thereof, together with a plan, acceptable to Administrative Agent in its sole but reasonable discretion, for the repayment of the Credit Facility, prior to such effective date.
The Initial Borrowers and the Company shall have executed and delivered the Tranche 1-A Notes to the Purchasers on or before the Closing Date.
No later than twenty (20) Business Days prior to the effective date of a Liquidity Event, the Initial Borrowers shall provide Administrative Agent with notice thereof (on a confidential basis), together with a plan, acceptable to Administrative Agent in its sole but reasonable discretion, for the repayment of the Credit Facility, on or prior to such effective date.
All governmental and third party approvals necessary or, in the discretion of the Administrative Agent, advisable in connection with the Transactions shall have been obtained and be in full force and effect, and all applicable waiting periods shall have expired without any action being taken or threatened by any competent authority which would restrain, prevent or otherwise impose adverse conditions on any Initial Borrower's ability to perform its obligations under the Loan Documents.