Permitted Removal definition

Permitted Removal has the meaning set forth in Section 11.17(d).
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Permitted Removal has the meaning specified in Section 7.13(e).
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Permitted Removal has the meaning specified in Section 7.13(e). “Person” means any natural person, corporation, sociedad, limited liability company, trust, joint venture, association, company, partnership, Governmental Authority or other entity. “Pesos” or “Ps$” means the lawful currency of Mexico. “Plan” means a Single Employer Plan or a Multiple Employer Plan. “Platform” has the meaning specified in Section 7.2. “Pledged Subsidiary” means any Subsidiary of the Borrower that has (or has a direct or indirect parent (other than the Borrower) that has) had its Equity Interests pledged to any Person or entity (other than the Administrative Agent or the Lenders to secure the obligations hereunder) or as to which any such Equity Interests are subject to a negative pledge other than a Subsidiary of the Borrower that owns a direct or indirect interest in an Unencumbered Property and is listed on Schedule 1.1B. “Pricing Certificate” means a certificate signed by a Responsible Officer of the Borrower in charge of financial matters, substantially in the form of Schedule 3.12B hereto, (i) attaching a true and correct copy of the Verification Report for the immediately preceding applicable SLL Reference Period and (ii) setting forth the computations in reasonable detail in respect of the Sustainability KPI. “Pricing Certificate Inaccuracy Notice” has the meaning specified in Section 3.12(f). “Prime Rate” means the rate of interest per annum from time to time published in the “Money Rates” section of The Wall Street Journal as being the “Prime Lending Rate” or, if more than one rate is published as the Prime Lending Rate, then the highest of such rates (each change in the Prime Lending Rate to be effective as of the date of publication in The Wall Street Journal of a “Prime Lending Rate” that is different from that published on the preceding Business Day), provided that in the event that The Wall Street Journal shall, for any reason, fail or cease to publish the Prime Lending Rate, the Administrative Agent shall choose a reasonably comparable index or source to use as the basis for the “Prime Lending Rate”. Each change in any interest rate provided for herein based upon the Alternate Rate resulting from a change in the Prime Rate shall take effect at the time of such change in the Prime Rate. “Process Agent” has the meaning specified in Section 11.15.5. “Prohibited Payment” has the meaning specified in Section 8.10(a).
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Examples of Permitted Removal in a sentence

  • However, it may not be practicable or cost-effective to undertake a Permitted Removal, or to remove all Deal Communications or Privileged Deal Communications that may exist in the Company Group’s files and electronic servers and databases.

  • For the avoidance of doubt, IFC acknowledges and agrees that any Permitted Removal made in accordance with Section 7.13 of the Syndicated Credit Agreement shall be effective for purposes of the IFC Guarantee Agreement.

  • If the removal of Related Grand Avenue as Managing Member of CORE/Related JV is required in order for CORE to cure such Non-CORE Default or such Non-CORE Default shall otherwise constitute a Permitted Removal Event hereunder, then CORE (or its Affiliate) shall have the right to replace Related Grand Avenue as the Managing Member of CORE/Related JV.

  • However, it may not be practicable or cost-effective to undertake a Permitted Removal, or to remove all Privileged Deal Communications that may exist in the Company Group’s files and electronic servers and databases.

  • For avoidance of doubt, it is in the intent of the foregoing provisions that upon the occurrence of a Permitted Removal Event, CORE LA shall have the right to remove Related Grand Avenue (or applicable Affiliate of Related) as the Managing Member, developer of the Project, or as a member of CORE/Related JV without the prior written consent of Authority.

  • Any exclusion or removal, redesignation, sale, transfer or assignment of an Unencumbered Property or release of a Guarantor permitted by this Section 7.13 shall be referred to as a “Permitted Removal.” No Permitted Removal shall take effect until a Compliance Certificate addressing such Permitted Removal has been delivered by the Borrower to the Administrative Agent.


More Definitions of Permitted Removal

Permitted Removal means the removal of BFC (on an involuntary basis on the part of BFC) from acting as the managing member of Tenant or the removal of ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ (or another Developer Principal reasonably acceptable to Landlord (on an involuntary basis on the part of ▇▇. ▇▇▇▇▇▇▇▇ or such other Developer Principal, as the case may be) from having day-to- day operational and managerial control over Tenant and the Project, in either case by one or more Institutional Investors following a Removal Event such that BFC is no longer the managing member of Tenant and/or ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ (or another Developer Principal reasonably acceptable to Landlord) no longer has day-to-day operational and managerial control over Tenant and the Project; provided, that (a) immediately following such action, (i) the Premises are managed by a manager or a Principal of the Institutional Investor that, in each case, possesses a level of experience and management skill that is commercially reasonable with regard to retail and hotel developments in New York City similar to the Project, and (ii) unless Landlord otherwise consents, Tenant shall have retained a Qualified Developer described in clause (c) of the definition of Qualified Developer to complete the Initial Construction Work, and (b) a Guarantor has provided to Landlord a replacement guaranty for each guaranty contemplated by this Lease that is then outstanding covering all of the obligations under each existing guaranty (and Tenant shall have delivered to Landlord fully executed original counterpart(s) of the same).
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