Non-Guarantor Restricted Subsidiary definition

Non-Guarantor Restricted Subsidiary means any Restricted Subsidiary that is not a Subsidiary Guarantor.

Non-Guarantor Restricted Subsidiary means any Restricted Subsidiary that is not a Wholly-Owned Restricted Subsidiary and is designated by the Company as a Non-Guarantor Restricted Subsidiary, as evidenced by a Board Resolution of the Board of Directors of the Company.

Non-Guarantor Restricted Subsidiary means any Restricted Subsidiary of the Borrower which is not a Loan Party.

Examples of Non-Guarantor Restricted Subsidiary in a sentence

• Notwithstanding anything herein to the contrary, the Borrower may designate the Non-Guarantor Restricted Subsidiary as an SPV Subsidiary at any time, in each case, with the prior written consent of the Required Lenders (acting in good faith), which may be in the form of an email from counsel to the Required Lenders.

• No Restricted Subsidiary (other than a Subsidiary Guarantor) may Incur any Indebtedness if the proceeds are used to refinance Indebtedness of the Borrower or a Subsidiary Guarantor, except to the extent that the Indebtedness of the Borrower so refinanced consists of the Guarantee of Indebtedness of a Non-Guarantor Restricted Subsidiary.

• Notwithstanding any other provision of this Section 4.09, in no event will any Non-Guarantor Restricted Subsidiary be permitted to incur Indebtedness under Section 4.09(b)(iv), (xiv), (xvi) and (xix) in an aggregate principal amount (or accreted value, as applicable) at any time outstanding in excess of $50.0 million.

• Any Guarantees of Hercules and its Subsidiaries shall be unconditionally released and discharged upon the satisfaction of the conditions contained in the second proviso contained in the definition of "Non-Guarantor Restricted Subsidiary", such release to be evidenced by a supplemental indenture executed by the Company, the Guarantors and the Trustee.

• Upon the redesignation of an Unrestricted Subsidiary as a Restricted Subsidiary, such Restricted Subsidiary (unless such Restricted Subsidiary is a Non-Guarantor Restricted Subsidiary) shall execute a supplemental Indenture to become a Subsidiary Guarantor and shall become a party to all applicable Collateral Documents.

More Definitions of Non-Guarantor Restricted Subsidiary

Non-Guarantor Restricted Subsidiary means any Restricted Subsidiary that is not a Subsidiary Guarantor. “Non-Recourse Debt” means Indebtedness of a Person:

Non-Guarantor Restricted Subsidiary means any Restricted Subsidiary of the Issuer that does not guarantee the Notes.

Non-Guarantor Restricted Subsidiary means a Restricted Subsidiary of the Issuer that is not a Guarantor.

Non-Guarantor Restricted Subsidiary means (i) each of the Subsidiaries listed on Schedule 1.01(b), in each case only for so long as such entity continues to operate substantially consistent with the manner in which it operates on the Closing Date and operations similar in nature thereto and reasonably related extensions and expansions thereof and (ii) each direct or indirect Subsidiary of the Borrower that is not an Excluded Subsidiary that is not organized under the laws of the United States, any state or commonwealth thereof or the District of Columbia (A) so long as (x) the assets of such Subsidiaries in the aggregate constitute not more than 1.5% of the total assets of the Borrower and its Subsidiaries on a consolidated basis, (y) the third party revenues of such Subsidiaries in the aggregate do not exceed $3,000,000, and (z) the aggregate amount of Investments in, or the consideration for the Acquisition of, any such Subsidiary under Section 7.04(i) and the second proviso under clause (iv) of the definition of “Permitted Acquisitions” do not exceed $5,000,000 (or, with respect to any Subsidiary organized under the laws of India, $7,500,000), or (B) to the extent (x) a Guarantee or pledge of Collateral by such Subsidiary would be prohibited or restricted under applicable Laws at the time such Subsidiary becomes a Subsidiary (including any requirement to obtain the consent of any Governmental Authority or third party to the extent such consent has not been received) solely to the extent that such prohibition or restriction was not entered into in contemplation of its financing arrangements or for the purpose of circumventing the requirements of the Loan Documents or (y) the Required Lenders and the Borrower agree that the cost (including any adverse tax consequences) of obtaining a Guarantee or pledge of Collateral by such Subsidiary would be excessive in light of the practical benefit to the Secured Parties afforded thereby.

Non-Guarantor Restricted Subsidiary means a Restricted Subsidiary that is not a Subsidiary Guarantor.

Non-Guarantor Restricted Subsidiary means (i) Prosper Funding LLC, only for so long as such entity continues to operate substantially consistent with the manner in which it operates on the Closing Date, and operations similar in nature thereto and reasonably related extensions and expansions thereof, and (ii) each other direct or indirect Subsidiary of the Borrower that is not an Excluded Subsidiary and which is a bankruptcy remote entity, as reasonably necessary for the operation of its business or required by its counterparties.

Non-Guarantor Restricted Subsidiary means any Restricted Subsidiary that is not a Guarantor (other than the Issuer).