Principal of the Borrower definition

Principal of the Borrower means (i) any member, shareholder or partner of the Borrower, (ii) any other owner of an equity interest in Borrower, (iii) any member, shareholder, partner or equity owner of any entity which either directly or indirectly through any other entity(ies) has an equity interest in Borrower and/or (iv) any member, shareholder, partner or equity owner of any such other entity(ies).
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Examples of Principal of the Borrower in a sentence

  • Name of Principal> Duplicate this section and include the name of the principal for each Principal of the Borrower.

  • For both initial applications and any Transfer/Assumption, the Lender is required to perform an Applicant Experience Check (“ACheck”) of the Borrower and each Key Principal and Principal of the Borrower.

  • N/A Resume / Evidence that individual or entity is qualified HUD-90014-ORCF, Consolidated Certifications – Principal of the Borrower Part VIII Parties to the Transaction, and Attachment 1 are NOT required to be completed.

  • This annual independent review shall be performed by an individual firm which is (i) familiar with captive insurance structures, captive domiciles and captive operations, including experience in the analysis of both actuarial studies and audited financial statements of captives, and (ii) unrelated to and unaffiliated with the Lender, the Borrower, or any sponsor or Key Principal of the Borrower or any captive entity of any of their agents.

  • Promptly upon the occurrence thereof, a written notice of the retirement of any Principal of the Borrower or a change in ownership of any Subsidiary.

  • Evidence of registration in HUD’s Business Partners Registration System (BPRS) (required for all applicable participants: http://www.hud.gov/offices/hsg/mfh/apps/appsmfhm.cfm) HUD-90014-ORCF, Consolidated Certification – Principal of the Borrower Part VII Previous Participation, Part VIII Parties to the Transaction, and Attachment 1 do NOT need to be completed.

  • RequirementsFor both initial applications, Supplemental Mortgage Loans, and any Transfer/Assumption, you must perform an ACheckTM and receive a "Continue Processing" response forthe Borrower,each Key Principal of the Borrower, each Principal of the Borrower, each Guarantor, andany person who owns or controls an entity Key Principal.

  • However, there are exceptions to these non-recourse provisions, making the general partners and any other "Key Principal" of the Borrower (i.e., the individual(s) that controls and manages the Borrower, as identified by Greystone) personally liable as a result of certain violations of the Loan documents.

  • Identity of Interest of Borrowers Using BSPRA - General contractors with an identity of interest with the borrower may be either independent businesses with an ownership interest created in the borrower entity primarily to obtain the Builders and Sponsors Profit and Risk Allowance (BSPRA) or businesses owned and operated by a Principal of the Borrower.

  • Obviously, the pressure influences the frequency components in the vibration signal, but the rule of effects is not clear.

Related to Principal of the Borrower

  • The Borrower has advised the Banks that the Borrower has entered into an Agreement and Plan of Merger and Reorganization, dated as of February 10, 2000 (the "Merger Agreement"), among the Borrower, Opticare Health Systems, Inc. (the "Parent"), and OC Acquisition Corp., a wholly-owned subsidiary of the Parent ("Merger Sub"), pursuant to which the parties intend to merge Merger Sub with and into the Borrower subject to the terms and conditions thereof which include, among other things, restructuring the Obligations owing to the Banks on terms and conditions mutually agreed upon by the Borrower and the Banks. While the Borrower and the Banks have initiated discussions and due diligence concerning the Merger and any proposed restructuring of the Obligations, the Borrower acknowledges that the Banks have not consented to the Merger nor have the Banks agreed to any terms and conditions relating to any restructuring of the Obligations. In the meantime, however, the Borrower intends to continue to sell the remaining physician practice management groups operated by the Borrower and its Subsidiaries (collectively being referred to herein as the "PPM Businesses") and use a portion of the proceeds from the sale of the PPM Businesses to meet its reasonable and necessary operating expenses. To afford the Borrower an opportunity to proceed with the transactions described above, the Borrower has requested that (i) the Banks extend the temporary waiver period provided for in Sections 2.1 and 2.2 of that certain Seventh Amendment and Waiver to Credit Agreement dated as of December 10, 1999, among the Borrower, the Banks, and the Agent (the "Seventh Amendment") (as further amended, in part, by a December 30, 1999, letter agreement, a February 29, 2000, letter agreement, a March 24, 2000, letter agreement, and an April 14, 2000, letter agreement, and a May 5, 2000, letter agreement, in each case between the Borrower, the Banks and the Agent) and, in addition, that the Banks temporarily waive any non-compliance by the Borrower as of December 31, 1999, and as of March 31, 2000, with Sections 8.8 (Total Funded Debt/Adjusted EBITDA Ratio), 8.10 (Interest Coverage Ratio), and 8.11 (Debt Service Coverage Ratio) of the Credit Agreement and the Borrower's non-compliance with Section 8.5(b) of the Credit Agreement with respect to the timely delivery of the Borrower's March 31, 2000, financial statements, in each case to the earlier of June 2, 2000, or the termination of the Merger Agreement pursuant to its terms (the earlier of such dates being referred to herein as the "Waiver Termination Date"), (ii) Bank of Montreal extend the Bridge Loan Period from May 19, 2000, to the Waiver Termination Date, and (iii) postpone the due date for the payment of principal, interest and unused commitment fees otherwise due on or before May 19, 2000, to the Waiver Termination Date. By signing below, the Banks (including Bank of Montreal with respect to the Bridge Loan Commitment) hereby agree to extend the waiver period provided in Sections 2.1 and 2.2 of the Seventh Amendment from May 19, 2000, to the Waiver Termination Date, temporarily waive any non-compliance by the Borrower as of December 31, 1999, and March 31, 2000, with Sections 8.8 (Total Funded Debt/Adjusted EBITDA Ratio), 8.10 (Interest Coverage Ratio), and 8.11 (Debt Service Coverage Ratio) of the Credit Agreement and the Borrower's non-compliance with Section 8.5(b) of the Credit Agreement with respect to the timely delivery of the Borrower's March 31, 2000, financial statements through the period ending on the Waiver Termination Date, agree to extend the Bridge Loan Period to the Waiver Termination Date, and agree to postpone the due date for the payment of principal, interest, and unused commitment fees otherwise due on or before May 19, 2000, to the Waiver Termination Date, provided that:

  • Borrower as defined in the preamble hereto.

  • Borrower Affiliate shall have the meaning set forth in the Lead Securitization Servicing Agreement; provided that in the event that any Non-Lead Note is securitized in a Securitization, the term “Borrower Affiliate” as used in the definitions of “Non-Lead Note Holder” and “Non-Lead Note Holder Representative” shall refer to a “Borrower Affiliate” as defined in the related Non-Lead Securitization Servicing Agreement or such other analogous term used in the related Non-Lead Securitization Servicing Agreement.

  • Designated Borrower has the meaning specified in the introductory paragraph hereto.

  • Lender Parent means, with respect to any Lender, any Person as to which such Lender is, directly or indirectly, a subsidiary.

  • CFC means a “controlled foreign corporation” within the meaning of Section 957 of the Code.

  • Borrower Group means the Borrower and each of its Subsidiaries.

  • Co-Borrower shall have the meaning assigned to such term in the introductory paragraph of this Agreement.

  • Parent Borrower as defined in the preamble hereto.

  • Ultimate Parent means a Company, which owns not less than fifty-one percent (51%) equity either directly or indirectly in the Parent and Affiliates.

  • Designated Borrower Notice has the meaning specified in Section 2.14.

  • U.S. Loan Party means any Loan Party that is organized under the laws of one of the states of the United States of America and that is not a CFC.

  • Specified Credit Party means any Credit Party that is not an “eligible contract participant” under the Commodity Exchange Act (determined prior to giving effect to Section 12.17).

  • U.S. Borrower means any Borrower that is a U.S. Person.

  • Borrower/s means and refers to jointly and severally to the Applicants (more particularly described in the Application Form) who has/have been sanctioned/granted/disbursed the Loan by ABFL pursuant to the relevant Application Form submitted by such applicants to ABFL for availing of the Loan and depending upon the nature of the Borrower/s, shall, unless repugnant to the context or meaning thereof, be deemed to include his/her legal heirs, executors and administrators;

  • Qualified borrower means any borrower that is a sponsoring entity that has a controlling interest in the real property that is financed by a qualified loan. A controlling interest includes, but is not limited to, a controlling interest in the general partner of a limited partnership that owns the real property.

  • U.S. Credit Party means the U.S. Borrower and each U.S. Subsidiary Guarantor.

  • Canadian Borrower as defined in the preamble hereto.

  • Ultimate Parent Company means a company which owns at least twenty six percent (26%) equity in the Bidding Company or Member of a Consortium, (as the case may be) and in the Technically Evaluated Entity and/or Financially Evaluated Entity (as the case may be) and such Bidding Company or Member of a Consortium, (as the case may be) and the Technically Evaluated Entity and/or Financially Evaluated Entity (as the case may be) shall be under the direct control or indirectly under the common control of such company;

  • Domestic Borrower means the Company and each Designated Borrower that is a Domestic Subsidiary.

  • Foreign Borrower means any Borrower that is a Foreign Subsidiary.

  • Borrower Security Agreement means the Security Agreement, dated as of the date hereof, between Borrower and the Agent.

  • Applicable Borrower means, with respect to any Loan or other amount owing hereunder or any matter pertaining to such Loan or other amount, whichever of the Borrowers is the primary obligor on such Loan or other amount.

  • Principal Subsidiary Bank means any Subsidiary which is a Bank and has total assets equal to 50 percent or more of the consolidated assets of the Company determined as of the date of the most recent financial statements of such entities.

  • Initial Borrower has the meaning set forth in the preamble hereto.

  • U.S. Loan Parties means the U.S. Borrowers and the U.S. Guarantors.