Parent MLP definition
Examples of Parent MLP in a sentence
From time to time, such other information regarding the business, affairs or financial condition of the Borrower, the Parent MLP or any Subsidiary (including, without limitation, any Plan or Multiemployer Plan and any reports or other information required to be filed under ERISA) as the Administrative Agent (at the request of any Lender) may reasonably request.
Neither the Borrower, nor the Parent MLP nor any of its Subsidiaries is currently subject to any material United States sanctions administered by OFAC, and the Borrower will not directly or indirectly use the proceeds from the Loans or lend, contribute or otherwise make available such proceeds to the Parent MLP, any Subsidiary, joint venture partner or other Person, for the purpose of financing the activities of any Person currently subject to any United States sanctions administered by OFAC.
Neither the Parent MLP nor the Borrower, nor any Person acting on behalf of the Parent MLP or the Borrower, has taken or will take any action which might cause any of the Loan Documents to violate Regulations T, U or X or any other regulation of the Board of Governors of the Federal Reserve System or to violate Section 7 of the Securities Exchange Act of 1934 or any rule or regulation thereunder, in each case as now in effect or as the same may hereinafter be in effect.
No Loan Party is in default and no event or circumstance occurred which, but for the expiration of any applicable grace period or the giving of notice, or both, would constitute a default under any material agreement or instrument to which a Loan Party is a party or by which the Parent MLP, the Borrower or any other Restricted Subsidiary is bound which default could reasonably be expected to have a Material Adverse Effect.
The charges, accruals and reserves on the books of the Borrower, the Parent MLP and its Subsidiaries in respect of taxes and other governmental charges are, in the opinion of the Parent MLP, adequate.
The Borrower and the Parent MLP have no Subsidiaries that are not Guarantors except as permitted by Section 8.09(b).
No tax lien has been filed and, to the knowledge of the Borrower and the Parent MLP, no claim is being asserted with respect to any such tax or other such governmental charge.
The Borrower will pay the Notes according to the reading, tenor and effect thereof, and the Borrower and the Parent MLP will and will cause each Restricted Subsidiary to do and perform every act and discharge all of the obligations to be performed and discharged by them under the Loan Documents and this Agreement, at the time or times and in the manner specified.
The Parent MLP and the Borrower shall not create any additional Subsidiary or re-designate an Unrestricted Subsidiary as a Restricted Subsidiary unless the Parent MLP or the Borrower gives written notice to the Administrative Agent of such creation or re-designation and complies with Section 8.09(b).
Except for receivables obtained by the Parent MLP, the Borrower or any other Restricted Subsidiary out of the ordinary course of business or the settlement of joint interest billing accounts in the ordinary course of business or discounts granted to settle collection of accounts receivable, neither the Parent MLP, nor the Borrower nor any other Restricted Subsidiary will discount or sell (with or without recourse) any of its notes receivable or accounts receivable.