New Borrower Entity definition

New Borrower Entity means a Single Purpose Entity 100% of the equity interests in which are directly or indirectly owned by Sponsor and 100% of the direct equity interests in which are pledged to Lender in a manner reasonably satisfactory to Lender (including the delivery, at Borrower’s expense, of UCC insurance with respect to such pledge), which Single Purpose Entity: (i) shall have executed and delivered to Lender an assumption agreement, in form and substance reasonably acceptable to Lender, evidencing its agreement to abide and be bound by the terms of the Loan Documents and containing representations substantially equivalent to those contained in Article IV, and such other representations (and evidence of the accuracy of such representations) as the Lender shall reasonably request; (ii) shall have delivered such Uniform Commercial Code financing statements as may be reasonably requested by Lender; (iii) if requested by Lender, shall have delivered to Lender legal opinions of counsel reasonably acceptable to Lender which are equivalent to the opinions delivered to Lender on the Closing Date, including new enforceability, authorization and nonconsolidation opinions which are reasonably satisfactory to Lender and satisfactory to each of the Rating Agencies; and (iv) shall have delivered to Lender all documents reasonably requested by it relating to the existence of such New Borrower Entity and the due authorization of such New Borrower Entity to assume the Loan and to execute and deliver any related documents, each in form and substance reasonably satisfactory to Lender.
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New Borrower Entity means a Single Purpose Entity 100% of the equity interests in which are directly or indirectly owned by Sponsor, which Single Purpose Entity: (i) shall have executed and delivered to Lender an assumption agreement, in form and substance reasonably acceptable to Lender, evidencing its agreement to abide and be bound by the terms of the Loan Documents and containing representations substantially equivalent to those contained in Article IV, and such other representations (and evidence of the accuracy of such representations) as the Lender shall reasonably request; (ii) shall have delivered such Uniform Commercial Code financing statements as may be reasonably requested by Lender; (iii) if requested by Lender, shall have delivered to Lender legal opinions of counsel reasonably acceptable to Lender which are equivalent to the opinions delivered to Lender on the Closing Date, including new enforceability, authorization and nonconsolidation opinions which are reasonably satisfactory to Lender and satisfactory to each of the Rating Agencies; and (iv) shall have delivered to Lender all documents reasonably requested by it relating to the existence of such New Borrower Entity and the due authorization of such New Borrower Entity to assume the Loan and to execute and deliver any related documents, each in form and substance reasonably satisfactory to Lender.
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Examples of New Borrower Entity in a sentence

  • Very truly yours, Properties Owned by Recycled Borrower Entity/ Not Being Transferred to New Borrower Entity [BORROWER’S LETTERHEAD] , 2012 Re: Lease between [ ], as Landlord, and [ ], as Tenant, concerning premises known as [ ].

  • Xxxxxxxx Xxxxxx Title: Vice President Exhibit A Organizational Chart Exhibit B Form of Tenant Notice Properties Being Transferred to New Borrower Entity [BORROWER’S LETTERHEAD] , 2012 Re: Lease between [ ], as Landlord, and [ ], as Tenant, concerning premises known as [ ] (the “Property”).

Related to New Borrower Entity

  • 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.

  • Original Borrower means, as the context requires, any of them;

  • Existing Borrower s Re-Fix Rate" means at any date the fixed rate then being offered to those of the Seller's existing Borrowers who at that date are seeking to fix the rate of interest payable under their existing Fixed Rate Mortgage Loan with the Seller for the applicable period;

  • Co-Borrower shall have the meaning assigned to such term in the introductory paragraph of this Agreement.

  • Foreign Borrower means any Borrower that is a Foreign Subsidiary.

  • Additional Borrower means a company which becomes an Additional Borrower in accordance with Clause 25 (Changes to the Obligors).

  • Initial Borrower has the meaning set forth in the preamble hereto.

  • Subsidiary Loan Party means each Subsidiary of the Borrower that is a party to the Guarantee Agreement.

  • Purchasing Borrower Party means any of the Borrower or any Restricted Subsidiary.

  • Credit Party means the Administrative Agent, the Issuing Bank, the Swingline Lender or any other Lender.

  • Foreign Subsidiary Borrower means any Eligible Foreign Subsidiary that becomes a Foreign Subsidiary Borrower pursuant to Section 2.23 and that has not ceased to be a Foreign Subsidiary Borrower pursuant to such Section.

  • Domestic Subsidiary Borrower means any Subsidiary Borrower which is a Domestic Subsidiary.

  • Subsidiary Loan Parties means (a) the Subsidiaries identified on Schedule I and (b) each other Subsidiary that becomes a party to this Agreement as a Subsidiary Loan Party after the Effective Date.

  • Domestic Credit Party means any Credit Party that is organized under the laws of any State of the United States or the District of Columbia.

  • U.S. Credit Party means the U.S. Borrower and each U.S. Subsidiary Guarantor.

  • Domestic Borrower means the Company and each Designated Borrower that is a Domestic Subsidiary.

  • Foreign Subsidiary Holding Company means any Domestic Subsidiary that is a direct parent of one or more Foreign Subsidiaries and holds, directly or indirectly, no other assets other than Equity Interests of Foreign Subsidiaries and other de minimis assets related thereto.

  • Borrower/s means and refers to jointly and severally to the Applicants (more particularly described in the Application Form) who has/have been sanctioned/granted/disbursed the Loan by ABFL pursuant to the relevant Application Form submitted by such applicants to ABFL for availing of the Loan and depending upon the nature of the Borrower/s, shall, unless repugnant to the context or meaning thereof, be deemed to include his/her legal heirs, executors and administrators;

  • Foreign Borrowers means the Canadian Borrower, the Dutch Borrower, and the U.K. Borrowers.

  • Borrower as defined in the preamble hereto.

  • Subsidiary Borrower any Subsidiary of the Borrower that becomes a party hereto pursuant to Section 10.1(c)(i) until such time as such Subsidiary Borrower is removed as a party hereto pursuant to Section 10.1(c)(ii).

  • Co-Borrowers has the meaning specified in the introductory paragraph to this Agreement.

  • Borrower Party means the Mortgage Loan Borrower, a manager of the Mortgaged Property, an Accelerated Mezzanine Loan Lender or any Borrower Party Affiliate.

  • Qualified borrower means any borrower that is a sponsoring entity that has a controlling interest in the real property that is financed by a qualified loan. A controlling interest includes, but is not limited to, a controlling interest in the general partner of a limited partnership that owns the real property.

  • Borrower Principal means any of the following:

  • Domestic Loan Party means any Loan Party organized under the laws of any state of the United States of America or the District of Columbia.