New Borrower definition

New Borrower means (a) each New Company that is a Company Borrower, and (b) each other Company (including a New Company) acting on behalf of, and for the account of, each Series thereof that is a New Fund.

New Borrower means one or more newly formed entities which, after giving effect to a Holding Company Reorganization (a) shall be an entity organized under the laws of any political subdivision of the United States and be wholly owned (whether directly, or indirectly through one or more Intermediate Holding Companies) by the Holding Company; (b) shall, upon the completion of a Holding Company Reorganization, own or acquire (whether by transfer, consolidation, merger or otherwise) all of the assets that were owned by Gray immediately prior to a Holding Company Reorganization (including without limitation all of the Capital Stock of the operating Subsidiaries of Gray) and (c) shall assume all of the rights and obligations of Gray as “Borrower” under this Agreement and the other Loan Documents.

New Borrower means an individual who has no outstanding balance on a Direct Loan Program or FFEL Pro- gram loan on July 1, 2014, or who has no outstanding balance on such a loan on the date he or she obtains a loan after July 1, 2014.

Examples of New Borrower in a sentence

• Any breach of this provision shall be subject to immediate enforcement action by New Borrower, including, without limitation, suspension of transfer rights and the imposition of financial penalties or disgorgement of profits gained through prohibited activities.

• Further, no Noteholder shall enter into any agreement or transaction that would have the effect of changing its economic risk with respect to its Distributed Shares, including through hedging strategies or derivatives, unless expressly authorized in writing by New Borrower.

• No Party shall assign this Agreement or any part hereof without the prior written consent of the other Parties hereto, except that (i) New Borrower may freely assign any or all of its rights under this Agreement, in whole or in part, to any successor entity (whether by merger, consolidation, equity sale, asset sale or otherwise) without obtaining the consent or approval of any Party hereto, provided, that no such assignment shall relieve the New Borrower of any of its obligations hereunder.

• Neither the Agent, Legacy Borrower, nor any Lender shall have any liability whatsoever in connection with the distribution of the Distributed Shares by New Borrower to the Noteholders.

• The New Term Lenders in their respective capacities relative to the Existing Loans and the New Credit Agreement, the New Borrower, and the Legacy Borrower collectively constitute the only consenting parties required to enter into, and give effect to the terms of, this Agreement.

More Definitions of New Borrower

New Borrower. Has the meaning set forth in Section 7.21.

New Borrower means, upon the completion of the Restructuring, the new parent holding company that is the corporate parent of the Newspaper Subsidiary.

New Borrower has the meaning provided in the preamble to this Agreement.

New Borrower is defined in the preamble.

New Borrower means you apply for this insurance:

New Borrower means, with respect to each New Entity, such New Entity on behalf of a particular Series of such New Entity. For example, if a New Entity has two Series and wishes to borrow on behalf of one of those Series, the term “New Borrower” would be the New Entity on behalf of the Series that is borrowing; if the New Entity wishes to borrow on behalf of both Series, the term “New Borrower” would mean the New Entity on behalf of one Series and the New Entity on behalf of the other Series.

New Borrower has the meaning set out in Section 10.05(2)(b).