Required Intercreditor Counterparty definition
Required Intercreditor Counterparty means, with respect to an Intercreditor Agreement or any joinder thereto (a)(i) relating to Permitted Dual Subsidiary Indebtedness, each Dual Subsidiary Lender providing such Permitted Dual Subsidiary Indebtedness or (ii) with respect to Permitted New Vehicle Floor Plan Indebtedness or Indebtedness permitted pursuant to Section 10.1(r), the Person providing such Indebtedness, or an agent authorized to act on behalf of such Person with respect to such Indebtedness, and (b) if reasonably required by the Agent or if required by the applicable Intercreditor Agreement or joinder thereto, the Company and/or each Subsidiary that is a borrower or guarantor of such Permitted Dual Subsidiary Indebtedness, Permitted New Vehicle Floor Plan Indebtedness or such other Indebtedness.
Required Intercreditor Counterparty means, with respect to an Intercreditor Agreement relating to Permitted Dual Subsidiary Indebtedness: (a) each Dual Subsidiary Lender providing such Permitted Dual Subsidiary Indebtedness, or an agent authorized to act on behalf of each Dual Subsidiary Lender with respect to such Indebtedness and (b) if required by the Agent, the Company and/or each Dual Subsidiary that is a borrower or guarantor of such Permitted Dual Subsidiary Indebtedness. “Required Lenders” means Lenders holding in the aggregate more than 50% of the Aggregate Commitment or, if the Aggregate Commitment has been terminated, Lenders holding in the aggregate more than 50% of the Aggregate Outstanding Credit Exposure provided that, Required Lenders shall at no time be less than two unaffiliated Lenders. The Commitments and Outstanding Credit Exposure of any Defaulting Lender shall be disregarded in determining Required Lenders. “Required Repayment Date” has the meaning set forth in Section 2.3.3(b). “Reserve Amount” has the meaning set forth in Section 4.1.9. “Resolution Authority” means an EEA Resolution Authority or, with respect to any UK Financial Institution, a UK Resolution Authority. “Restricted Payment” means any dividend or other distribution (whether in cash, securities or other property) with respect to any Equity Interests in any Loan Party or any Subsidiary, or any payment (whether in cash, securities or other property), including any sinking fund or similar deposit, on account of the purchase, redemption, retirement, acquisition, cancellation or termination of any such Equity Interests in any Loan Party or any option, warrant or other right to acquire any such Equity Interests in any Loan Party. “Revolving Loan” has the meaning set forth in Section 4.1.1. “Revolving Loan Advance” means a borrowing consisting of the Revolving Loans to be made by the Lenders on any date. “Revolving Loan Availability” means, as of any date of determination, an amount equal to (a) the Maximum Revolving Loan Amount at such time minus (b) the sum of the then outstanding principal balance of the Revolving Loans, Revolving Swing Line Loans and LC Obligations. “Revolving Loan Borrower” means the Company, in its capacity as an obligor on the Revolving Loan Obligations and LC Obligations which relate to the credit facilities described in Article 4. “Revolving Loan Borrowing Base” means, as of any date of determination: (a) an amount equal to the sum, without duplication, on such date of: (i) 100% of the...
Required Intercreditor Counterparty means, with respect to an Intercreditor Agreement relating to Permitted Dual Subsidiary Indebtedness: (a) each Dual Subsidiary Lender providing such Permitted Dual Subsidiary Indebtedness, or an agent authorized to act on behalf of each Dual Subsidiary Lender with respect to such Indebtedness, and (b) if required by the Agent, the Company (on behalf of itself and its Subsidiaries)and/or each Dual Subsidiary that is a borrower or guarantor of such Permitted Dual Subsidiary Indebtedness. “Required Lenders” means Lenders holding in the aggregate more than 50% of the Aggregate Commitment or, if the Aggregate Commitment has been terminated, Lenders holding in the aggregate more than 50% of the Aggregate Outstanding Credit Exposure provided that, Required Lenders shall at no time be less than two unaffiliated Lenders. The Commitments and Outstanding Credit Exposure of any Defaulting Lender shall be disregarded in determining Required Lenders. “Required Repayment Date” has the meaning set forth in Section 2.3.3(b). “Reserve Amount” has the meaning set forth in Section 4.1.9. 37
Examples of Required Intercreditor Counterparty in a sentence
To the extent not otherwise required to be delivered pursuant to Section 13.16, prior to or concurrently with the initial incurrence of Permitted Dual Subsidiary Indebtedness by any Dual Subsidiary from a Dual Subsidiary Lender, cause to be delivered to the Agent an Intercreditor Agreement, or a joinder agreement to an existing Intercreditor Agreement, executed by each Required Intercreditor Counterparty, along with any applicable revised exhibits thereto.
More Definitions of Required Intercreditor Counterparty
Required Intercreditor Counterparty means, with respect to an Intercreditor Agreement or any joinder thereto (a)(i) relating to Permitted Dual Subsidiary Indebtedness, each Dual Subsidiary Lender providing such Permitted Dual Subsidiary Indebtedness or (ii) with respect to Indebtedness permitted pursuant to Section 10.1(r), the Person providing such Indebtedness, or an agent authorized to act on behalf of such Person with respect to such Indebtedness, and (b) if reasonably required by the Agent or if required by the applicable Intercreditor Agreement or joinder thereto, the Company and/or each Subsidiary that is a borrower or guarantor of such Permitted Dual Subsidiary Indebtedness or such other Indebtedness.