Permitted Affiliate Assignee definition

Permitted Affiliate Assignee means any Affiliate of the Borrower (other than a Subsidiary of the Borrower) approved by the Administrative Agent and, unless an Event of Default of the kind referred to in Section 7.01(a), 7.01(b), 7.01(g) or 7.01(h) has occurred and is continuing, by the Borrower (each such approval not to be unreasonably withheld or delayed).

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Permitted Affiliate Assignee means (a) a Lender or (b) any Affiliate of a Lender or Approved Fund of a Lender, in the case of this clause (b), (i) having capital and surplus in excess of $500,000,000 and (ii) who has the ability to make the Loans contemplated by Section 2.02.

Permitted Affiliate Assignee shall have the meaning ascribed in Section 10.4.

Examples of Permitted Affiliate Assignee in a sentence

• Upon receipt of any Election Notice, the Administrative Agent shall promptly deliver a copy thereof to the Borrower and each applicable Permitted Affiliate Assignee.

• Notwithstanding the foregoing, NXP may assign, without any such approval, this Agreement, in whole or in part, or any of its rights interests, duties or obligations, (i) to a Permitted Affiliate Assignee (as defined below) or (ii) in connection with a corporate reorganization or restructuring, business combination, or sale of all or a substantial portion of the assets of a division, business unit or entity, in one or a series of related transactions.

• No assignment by Original Buyer of any rights or obligations under this Agreement (including an assignment to a Permitted Affiliate Assignee) shall relieve Original Buyer of any obligations under this Agreement unless Seller expressly agrees, in its sole discretion, to such release in writing.

More Definitions of Permitted Affiliate Assignee

Permitted Affiliate Assignee has the meaning set forth in Clause 3.4.

Permitted Affiliate Assignee shall have the meaning set forth in Section 303(2)(a)(i) below. NNN. (§265) Permitted Exception(s). below.