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.
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.
Before describing what has actually occurred as far as program de- velopment is concerned, it is useful to point out what was expected to occur (i.e., at least according to what is documented in the MoU signed by UBC and the provincial government).
The Administrative Agent shall have received (i) this Agreement, executed and delivered by a duly authorized officer of the MLP, the Initial Borrowers and the Lenders, (ii) for the account of each Lender requesting the same, a Note of the Borrowers conforming to the requirements set forth herein and (iii) the Guaranty, executed and delivered by a duly authorized officer of the MLP.