No Loan Party definition

No Loan Party has any obligation to any Person in respect of any finder's, broker's, investment banking or other similar fee in connection with any of the transactions contemplated under the Loan Documents.

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No Loan Party nor any Subsidiary thereof holds or intends to hold "margin stock" in such amounts that more than 25% of the reasonable value of its assets are represented by "margin stock." Neither the making of any Loan nor any use of proceeds of any such Loan will violate or conflict with the provisions of Regulation T, U or X of the Board of Governors of the Federal Reserve System, as amended from time to time.

No Loan Party is an "investment company", or a company "controlled" by an "investment company", within the meaning of the Investment Company Act of 1940, as amended. No Loan Party is subject to regulation under any Requirement of Law (other than Regulation X of the Board) which limits its ability to incur Indebtedness.

Examples of No Loan Party in a sentence

No Loan Party is in default under any material term of any Material Equipment Document, and, to such Loan Party’s knowledge, no other party to any Material Equipment Document (other than such Loan Party) is in default under any material term thereunder.
No Loan Party has entered into any agreement purported to subordinate the Obligations in right of payment to any other Indebtedness for borrowed money of the Loan Parties, other than any “waterfall” or other right of payment agreed to by the Lenders in the Loan Documents with respect to the Obligations.
No Loan Party may assign or otherwise transfer any of its rights under this Agreement without the prior written consent of Administrative Agent and the Lenders.
No Loan Party shall be deemed to have breached or violated this Section 5.07(c) (Compliance with Laws; Permits) if the applicable Loan Party or the applicable Restricted Subsidiary is challenging in good faith by appropriate proceedings diligently pursued the application or enforcement of such Environmental Laws for which adequate reserves have been established in accordance with GAAP.
No Loan Party has conducted any business other than business permitted under Section 5.7, has no outstanding Debt or other material liabilities other than pursuant to or as allowed by the Operative Documents, and no Loan Party is a party to or bound by any material contract other than pursuant to or allowed by the Operative Documents.

More Definitions of No Loan Party

No Loan Party has any chattel paper (whether tangible or electronic) or instruments with a value in excess of $100,000 as of the date hereof, except as set forth in the EXHIBIT 8.3(B). In the event that any Loan Party shall be entitled to or shall receive any chattel paper or instrument after the date hereof, such Loan Party or the Lead Borrower shall promptly notify Agent thereof in writing. Promptly upon the receipt thereof by or on behalf of such Loan Party (including by any agent or representative), such Loan Party or the Lead Borrower shall deliver, or cause to be delivered to Agent, all tangible chattel paper and instruments that such Loan Party or may at any time acquire, accompanied by such instruments of transfer or assignment duly executed in blank as Agent may from time to time specify, in each case except as Agent may otherwise agree. At Agent's option, such Loan Party or the Lead Borrower shall, or Agent may at any time on behalf of such Loan Party, cause the original of any such instrument or chattel paper to be conspicuously marked in a form and manner acceptable to Agent with the following legend referring to chattel paper or instruments as applicable: "This [chattel paper][instrument] is subject to the security interest of Fleet Retail Finance, Inc., as Agent for certain Revolving Credit Lenders and any sale, transfer, assignment or encumbrance of this [chattel paper][instrument] violates the rights of such secured party."

No Loan Party nor any Subsidiary nor any of its respective officers or employees, nor to the knowledge of any Loan Party, any director, agent or Affiliate thereof (i) Each of clauses (i) and (ii) of Section 4.17 of the Credit Agreement are amended to add "or any Sanctions" at the end thereof.

No Loan Party has filed any notice under any requirement of Environmental Law reporting a spill or accidental and unpermitted Release or discharge of a Contaminant into the environment. No Loan Party has entered into any negotiations or settlement agreements with any Person (including the prior owner of its property) imposing material obligations or liabilities on any Loan Party or any of its Subsidiaries with respect to any remedial action in response to the Release of a Contaminant or environmentally related claim. None of the products manufactured, distributed, or sold by any Loan Party contains asbestos containing material. No Environmental Lien has attached to any Premises of any Loan Party.

No Loan Party nor any Subsidiary thereof is engaged in the business of

No Loan Party has an “account” with a “bank” (within the meaning of Sections 4-104(a)(1) and 4-105(1) of the Uniform Commercial Code, respectively) other than the Accounts established in accordance with this Agreement and the other Financing Documents.

No Loan Party nor any Subsidiary thereof is engaged in the business of extending credit to others for the purpose of buying or carrying "margin stock." No Loan Party nor any Subsidiary thereof holds or intends to hold "margin stock" in such amounts that more than 25% of the reasonable value of its assets are represented by "margin stock." Neither the making of any Loan nor any use of proceeds of any such Loan will violate or conflict with the provisions of Regulation T, U or X of the Board of Governors of the Federal Reserve System, as amended from time to time.

No Loan Party is an "investment company", an "affiliated person", "promoter" or "principal underwriter" of an "investment company" or "controlled" by an "investment company" (as such SPAR ESOP Term Loan Agreement terms are defined in the Investment Company Act). None of the transactions contemplated by this Agreement and the other Loan Instruments (including the making of the Loans and the permitted use of the proceeds thereof) will violate any provision of the Investment Company Act.