Principal Controlled Entities definition
Examples of Principal Controlled Entities in a sentence
To the Principal’s Knowledge, the Principal Controlled Entities and their Subsidiaries have conducted their business in compliance with all applicable Laws, except for such failures that would not, individually or in the aggregate, reasonably be expected to require payments by the Principal Controlled Entities and their Subsidiaries in excess of the Threshold Amount to remedy.
None of the Principal Controlled Entities is a foreign person (as defined in the Code) and none is, therefore, subject to the provisions of the Code relating to the withholding of sales or exchange proceeds to foreign persons.
To the Principal’s Knowledge, there is no action, suit or proceeding pending or, threatened against any Principal Controlled Entity or any of their Subsidiaries which challenges or impairs the ability of the Principal Controlled Entities to execute or deliver, or perform its obligations under any of the Contribution Agreements or to consummate the transactions contemplated hereby and thereby.
Schedule 1.09 is a true and complete list of all environmental site assessment reports, investigations, remediation or compliance studies, audits, assessments or similar documents relating to the Properties, and prepared within ten (10) years prior to the Effective Date and within the possession or under the control of the Principals, the Principal Controlled Entities or any of their respective Subsidiaries, or any agent of any of the foregoing (collectively, the “Environmental Reports”).
If an Event of Default specified in Section 6.01(i) or Section 6.01(j) with respect to the Company or any of its Principal Controlled Entities occurs and is continuing, 100% of the principal of, and accrued and unpaid interest, if any, on, all Notes shall become and shall automatically be immediately due and payable without any action on the part of the Trustee.
The Borrower shall supply to the Agent, with each set of financial statements delivered pursuant to paragraph (a) or (b) of Clause 18.1 (Financial Statements), a Compliance Certificate setting out (in reasonable detail) computations as to compliance with Clause 19 (Financial Covenants) as at the date as at which those financial statements were drawn up and (in the case of each Compliance Certificate supplied with each set of Annual Financial Statements only) set out a list of Principal Controlled Entities.