Permitted Foreign Investment an Investment made by the Borrower or another Loan Party to any Permitted Foreign Entity or any other Wholly Owned Foreign Subsidiary after the Closing Date; provided that, the proceeds of such Investment are used by such Permitted Foreign Entity or Wholly Owned Foreign Subsidiary, as applicable, solely to directly, or indirectly through any Foreign Subsidiary of such Permitted Foreign Entity or Wholly Owned Foreign Subsidiary, finance a Permitted Acquisition.
Permitted Foreign Investment means an Investment made by Borrower or another Credit Party to any Permitted Foreign Entity or any other wholly owned Foreign Subsidiary after the Closing Date; provided that (a) the proceeds of such Investment are used by such Permitted Foreign Entity or wholly owned Foreign Subsidiary, as applicable, solely to directly, or indirectly through any Foreign Subsidiary of such Permitted Foreign Entity or wholly owned Foreign Subsidiary, finance a Permitted Acquisition, (b) if applicable, such Investment is evidenced by a promissory note of such Permitted Foreign Entity; and (c) such promissory note is delivered and pledged to the Collateral Agent pursuant to the Collateral Documents.
Permitted Foreign Investment means, with respect to any Person, an Investment by such Person in (i) cash and (ii) Cash Equivalents.
Examples of Permitted Foreign Investment in a sentence
Make any Restricted Investment (including any Restricted Investment in Akorn-Strides other than to the extent in existence on the Closing Date), other than a Permitted Acquisition or a Permitted Foreign Investment.
More Definitions of Permitted Foreign Investment
Permitted Foreign Investment an Investment made by the Borrower or another Loan Party to any Permitted Foreign Entity or any other Wholly-Owned Foreign Subsidiary after the Closing Date that satisfies the following requirements: (a) the proceeds of such Investment are used by such Permitted Foreign Entity or Wholly-Owned Foreign Subsidiary, as applicable, solely to directly, or indirectly through any Foreign Subsidiary of such Permitted Foreign Entity or Wholly-Owned Foreign Subsidiary, finance a Permitted Acquisition, (b) (x) in the case of any such Investment made to a Permitted Foreign Entity, no less than 75% of the aggregate principal amount of such Investment is made in the form of a loan by such Loan Party to the Permitted Foreign Entity and (y) in the case of any such Investment made to any other Wholly-Owned Foreign Subsidiary, 100% of the aggregate principal amount of such Investment is made in the form of a loan by such Loan Party to such other Wholly Owned Foreign Subsidiary, (c) if the Permitted Acquisition will be made by a Foreign Subsidiary of such Permitted Foreign Entity or Wholly-Owned Foreign Subsidiary, as applicable, no less than (x) in the case of any such Investment made by a Permitted Foreign Entity, 75% of the aggregate principal amount of the Investment made in such Foreign Subsidiary (or subsequent Foreign Subsidiaries thereof) with the proceeds of the original Investment made to the Permitted Foreign Entity shall be made in the form of a loan and (y) in the case of any such Investment made by any other Wholly-Owned Foreign Subsidiary, 100% of the aggregate principal amount of the Investment made in such Foreign Subsidiary (or subsequent Foreign Subsidiaries thereof) with the proceeds of the original Investment made to the Wholly-Owned Foreign Subsidiary shall be made in the form of a loan, in each case unless the making of such Investment in the form of a loan (in whole or in part) would reasonably be expected to result in additional material tax liability to the Borrower or any Restricted Subsidiary, (d) any such loan required by clause (b) or (c) is evidenced by a promissory note or notes of such Permitted Foreign Entity or Wholly Owned Foreign Subsidiary and, if applicable, its Foreign Subsidiary, (e) any such promissory note evidencing any such Indebtedness owed to a Loan Party is delivered and pledged to the Administrative Agent pursuant to the applicable Security Document, and (f) any such promissory note of any Foreign Subsidiary shall include restr...
Permitted Foreign Investment means an Investment by the Borrower in Foreign Subsidiaries of Holdings located in Western Europe in which the following conditions are satisfied:
Permitted Foreign Investment an Investment by any Domestic Borrower in a Foreign Subsidiary in the form of an intercompany loan, advance or transfer of Property (other than Accounts or Inventory); provided, that (i) any loan or advance is evidenced by a promissory note in favor of such Domestic Borrower, (ii) any promissory note is pledged to Agent as security for the Obligations in form reasonably satisfactory to Agent, and (iii) the aggregate amount of all Permitted Foreign Investments made does not exceed in the aggregate during any Fiscal Year $5,000,000, and in the aggregate during the term of this Agreement, $10,000,000. Permitted Lien: as defined in Section 10.2.2.
Permitted Foreign Investment an Investment (including any Permitted Acquisition) by any Borrower in a Foreign Subsidiary which is in the form of an intercompany transfer of Property (other than Accounts or Inventory) or a loan or advance (except that, (i) solely to the extent required by law in the applicable foreign jurisdiction, any portion of any Investment may be made in the form of an equity contribution and (ii) in the case of any Permitted Acquisition, such Investment may be made in the form of Equity Interests); provided, that (i) any loan or advance is evidenced by a promissory note in favor of such Borrower, (ii) any promissory note is pledged to Agent as security for the Obligations in form reasonably satisfactory to Agent, (iii) Availability, on a Pro Forma Basis after giving effect to such Investment, for each of the 30 days prior to and including the date such Investment is consummated, is at least $16,000,000, and (iv) the aggregate amount of all Permitted Foreign Investments (other than Permitted Acquisitions) made in any period of 12 consecutive months does not exceed in the aggregate (net of any return of capital actually received in respect of any previous Permitted Foreign Investment) $10,000,000 (provided that the aggregate amount of all Permitted Foreign Investments (including any Permitted Acquisitions) in any period of 12 consecutive months may exceed $10,000,000, but not exceed $70,000,000, if, on a Pro Forma Basis after giving effect to such Permitted Foreign Investment, for each of the 30 days prior to and including the date such Investment is consummated, no Revolver Loans will be incurred or outstanding), and in the case of any Investment in any Foreign Subsidiary which has incurred Debt pursuant to Section 10.2.1(n), less the aggregate amount of all other Debt incurred by such Foreign Subsidiary.
Permitted Foreign Investment shall have the meaning assigned to it in Section 6.2(g).
Permitted Foreign Investment an Investment made by the Borrower or another Loan Party to any Permitted Foreign Entity or any other Wholly-OwnedWholly Owned Foreign Subsidiary after the Restatement Effective Date; provided that, the proceeds of such Investment are used by such Permitted Foreign Entity or Wholly-OwnedWholly Owned Foreign Subsidiary, as applicable, solely to directly, or indirectly through any Foreign Subsidiary of such Permitted Foreign Entity or Wholly-OwnedWholly Owned Foreign Subsidiary, finance a Permitted Acquisition. 45
Permitted Foreign Investment an Investment by any Domestic Borrower in a Foreign Subsidiary in the form of an intercompany loan, advance or transfer of Property (other than Accounts or Inventory); provided, that (i) any loan or advance is evidenced by a promissory note in favor of such Domestic Borrower, (ii) any promissory note is pledged to Agent as security for the Obligations in form reasonably satisfactory to Agent, and (iii) the aggregate amount of all Permitted Foreign Investments made does not exceed in the aggregate during any Fiscal Year $5,000,000 (or, so long as Domestic Availability immediately prior to and after such Investment, is at least $5,000,000, then $10,000,000 during any Fiscal Year), and in the aggregate during the term of this Agreement, $10,000,000 (or, so long as Domestic Availability immediately prior to and after such Investment, is at least $5,000,000, then $20,000,000 during the term of this Agreement), and in the case of any Investment in any Foreign Subsidiary which has incurred Debt pursuant to Section 10.2.1(n), less the aggregate amount of all other Debt incurred by such Foreign Subsidiary.