Examples of Original Loan Party in a sentence
Each Original Loan Party has disclosed to the Lenders all agreements, instruments and other restrictions to which it or any of its Subsidiaries is subject, and all other matters known to it, that, individually or in the aggregate, could reasonably be expected to result in a Material Adverse Effect.
Each Original Loan Party and its Subsidiaries is in compliance with all Requirements of Law and orders of any Governmental Authority, in each case, applicable to it or its property and all indentures, agreements and other instruments binding upon it or its property, except where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect.
Except as set forth on Schedule 3.15, each Original Loan Party and its Subsidiaries owns, free and clear of Liens, other than Liens created under the Pledge Agreements, and has the unencumbered right to vote, all the outstanding ownership interests in each Person shown to be held by it on Schedule 3.15.
This Agreement and the other Loan Documents have been duly executed and delivered by each Original Loan Party and constitute legal, valid and binding obligations of such Original Loan Party, enforceable against it in accordance with their respective terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law.
All Equity Interests of each Subsidiary of each Original Loan Party are duly and validly issued and are fully paid and non‑assessable.
No Original Loan Party is an “investment company” as defined in, or subject to regulation under, the Investment Company Act of 1940.
For purposes of determining whether or not a representation is true under this Section 3.19, an Original Loan Party shall not be required to make any investigation into (i) the ownership of publicly traded stock or other publicly traded securities or (ii) the beneficial ownership of any collective investment fund.
As of the Effective Date, there are no tax sharing agreements or similar arrangements (including tax indemnity arrangements) with respect to or involving any Original Loan Party or any of its Subsidiaries, other than tax sharing agreements between the Borrower and its Subsidiaries.
The Obligations are, and will be, superior and senior in right of payment to any Indebtedness of each Original Loan Party and its Subsidiaries (including, without limitation, any obligations to make Deferred Acquisition Payments) other than the Convertible Notes and the Trust Preferred Securities.
The Loan is further secured or evidenced by that certain Environmental Indemnity Agreement, dated June 18, 2003, given by Original Loan Party and FelCor Lodging (individually and collectively, as the context may require, "Indemnitor") to Lender (the "Environmental Indemnity").