Examples of Secured Loan Party in a sentence
Nothing contained in this Section 2.4(e)(ii) shall permit any Secured Loan Party to sell or otherwise dispose of any assets other than in accordance with Section 6.4.
The hours worked and payments made to employees of each Secured Loan Party has not been in violation of the Fair Labor Standards Act or any other applicable legal requirements, except to the extent such violations could not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Change.
No Secured Loan Party nor any of their ERISA Affiliates maintains or contributes to any Benefit Plan.
All material payments due from any Secured Loan Party on account of wages and employee health and welfare insurance and other benefits have been paid or accrued as a liability on the books of any Secured Loan Party, except where the failure to do so could not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Change.
Each Secured Loan Party enjoys peaceful and undisturbed possession under all leases material to their business and to which it is a party or under which it is operating, and, subject to Permitted Protests, all of such material leases are valid and subsisting and no material default by the applicable Secured Loan Party exists under any of them.
No Secured Loan Party has incurred any liability or obligation under the Worker Adjustment and Retraining Notification Act or similar state law, which remains unpaid or unsatisfied.
Each Secured Loan Party has made adequate provision in accordance with GAAP for all taxes not yet due and payable.
No Borrower knows of any proposed Tax assessment against a Secured Loan Party that is not being actively contested by such Secured Loan Party diligently, in good faith, and by appropriate proceedings; provided such reserves or other appropriate provisions, if any, as shall be required in conformity with GAAP shall have been made or provided therefor.
Except as otherwise permitted under Section 5.5, all Tax returns and reports of each Secured Loan Party required to be filed by any of them have been timely filed, and all Taxes shown on such Tax returns to be due and payable and all assessments, fees and other governmental charges upon a Secured Loan Party and upon its assets, income, businesses and franchises that are due and payable have been paid when due and payable.
Make any change in the nature of its or their business as described in Schedule 6.6 to the Disclosure Letter or acquire any properties or assets that are not reasonably related to the conduct of such business activities; provided, however, that the foregoing shall not prevent any Secured Loan Party from engaging in any business that is reasonably related or ancillary to its or their business.