Material Loan Party definition

Material Loan Party means, (a) during any Reinstated Guarantee Period, (i) the Company and (ii) any Subsidiary Guarantor that, at the time of determination, has Consolidated Total Assets equal to at least 10% of the Consolidated Total Assets of the Company at such time, as reflected initially in the 2017 10-K and thereafter in the most recent annual consolidated financial statements of the Company delivered or deemed delivered pursuant to Section 6.1 and (b) at all other times, the Company.

Material Loan Party means, (a) the Company and (b) any Subsidiary Guarantor (if any) that, at the time of determination, has Consolidated Total Assets equal to at least 10% of the Consolidated Total Assets of the Company at such time, as reflected initially in the 2022 10-K and thereafter in the most recent annual consolidated financial statements of the Company delivered or deemed delivered pursuant to Section 6.1.

Material Loan Party means (a) the Borrower, (b) the Guarantors and (c) any Restricted Subsidiary that (i) owns any Collateral, (ii) generates more than 5.0% of Consolidated EBITDA for the Measurement Period most recently ended for which financial statements of Parent and its Subsidiaries are available or (iii) owns net assets that have an aggregate fair market value of 5.0% or more of Consolidated Tangible Assets of the Borrower as of the end of the previous fiscal quarter.

Examples of Material Loan Party in a sentence

• To the knowledge of such Loan Party, no Person is infringing, misappropriating or otherwise violating any Material Loan Party Intellectual Property in a manner that has resulted in, or is reasonably expected to result in, a Material Adverse Effect.

• All Material Loan Party Intellectual Property that is registered is subsisting and, to the knowledge of each Loan Party, valid and enforceable, and there is no pending or, to such Loan Party’s knowledge, threatened Dispute challenging in writing the ownership, validity or enforceability of such Material Loan Party Intellectual Property.

• Except as otherwise set forth in Schedule 4.17(a), the Loan Parties or one or more of their Subsidiaries are the exclusive owners of all right, title and interest in and to the Material Loan Party Intellectual Property, free and clear of any Liens except for Liens not prohibited by Section 6.2.

• Immediately after the consummation of the Transactions to occur on the Restatement Effective Date and immediately following the making of each Loan and after giving effect to the application of the proceeds thereof, and taking into account all rights of indemnity, subrogation and contribution of the Loan Parties under applicable law and the Indemnity, Contribution and Subrogation Agreement, each Material Loan Party is and will be Solvent.

• As promptly as practicable, and in any event within 30 days after the Restatement Effective Date, the Borrower shall have delivered, or caused the applicable Subsidiary to deliver, to the Administrative Agent the stock certificates, if any, required to be delivered pursuant to the Security Documents with respect to each Loan Party that is not a Material Loan Party.

More Definitions of Material Loan Party

Material Loan Party means any Loan Party that is not an Immaterial Loan Party.

Material Loan Party means Allied Waste, the Borrower, BFI and each other Loan Party that has (i) $50,000,000 in gross revenues in any fiscal year or (ii) $50,000,000 in total assets.

Material Loan Party as used above shall mean, as of any date of determination, any Loan Party who has Collateral making up at least $5,000,000 of the Borrowing Base as of such date as determined by Agent.

Material Loan Party means, (a) prior to the Collateral Release Date and during any Reinstated Guarantee Period, (i) the Parent, (ii) the Company and (iii) any Subsidiary Guarantor that, at the time of determination, has Consolidated Total Assets equal to at least 10% of the Consolidated Total Assets of the Parent at such time, as reflected initially in the 10-K filed by the Parent on February 27, 2012 and thereafter in the most recent annual consolidated financial statements of the Parent delivered or deemed delivered pursuant to Section 6.1 and (b) at all other times, the Parent and the Company.

Material Loan Party means the Borrower and each of the Material Subsidiaries.

Material Loan Party means, as of the date of any determination thereof, any Loan Party (other than the Borrower) which either (a) owns assets having a book value greater than or equal to 10% of Consolidated Total Assets or (b) had net income (as determined in a manner consistent with determining Net Income of the Borrower and its Consolidated Subsidiaries) greater than or equal to 10% of Net Income for the four fiscal quarter period most recently ending prior to the date of determination.

Material Loan Party means, at any time, any Loan Party (i) the gross revenues of which for the fiscal year most recently ended are 15% or more of the consolidated gross revenues of the Company and its Subsidiaries for such fiscal year or (ii) the aggregate book value of the assets of which at such time are 15% or more of the aggregate book value of the consolidated assets of the Company and its Subsidiaries at such time, all as determined in accordance with GAAP.