Permitted Affiliate Sale definition
Permitted Affiliate Sale means any sale by a holder of Common Stock to any one or more of its Affiliates, if such Affiliate agrees to be bound by the terms of this Agreement to the same extent as the transferor and executes a joinder hereto.
Permitted Affiliate Sale means the sale of a Property to an Affiliate of Borrower that is not itself a Borrower, which Affiliate’s immediate intention is to materially redevelop such Property as evidenced by an Officer’s Certificate submitted to Lender describing such redevelopment in reasonable detail; provided, however, no such sale shall be a “Permitted Affiliate Sale” if, after giving effect thereto, the sum of the Allocated Loan Amounts of all Properties subject to Permitted Affiliate Sales from and after the Closing Date would exceed $25,000,000.
Permitted Affiliate Sale has the meaning set forth in Section 5.03(a)(iv)(B) hereof.
Examples of Permitted Affiliate Sale in a sentence
As used herein, “Principal Proceeds” means all amounts received by the Company with respect to the Portfolio Investments (other than proceeds from a Permitted Affiliate Sale) or any other Collateral, and all amounts otherwise on deposit in the Accounts (including cash contributed by the Company), in each case other than Interest Proceeds or amounts on deposit in the Interest Reserve Account.
More Definitions of Permitted Affiliate Sale
Permitted Affiliate Sale means the transfer of not less than eighty percent (80%) of all of the economic and voting rights associated with ownership of all outstanding equity of the Company on a fully diluted basis to the Permitted Affiliate, whether by way of a sale, assignment, merger, consolidation, share exchange, business combination, recapitalization, liquidation, dissolution or similar transaction effectuating such sale; provided that on the date of consummation of the Permitted Affiliate Sale each of the Permitted Affiliate Sale Conditions are satisfied.
Permitted Affiliate Sale means the sale of a Property to an Affiliate that is expressly permitted under the Mezzanine Loan Agreement.
Permitted Affiliate Sale shall have the meaning specified in the Additional Terms Letter.