SPE Component Entity definition

SPE Component Entity shall have the meaning set forth in Section 5.1 hereof.

SPE Component Entity means, if required by Lender under Article 6, each general partner if Borrower is a partnership, or the managing member if Borrower is a limited liability company, which entity shall be a corporation whose sole asset is its interest in Borrower.

SPE Component Entity. As defined in the Mortgage Loan Agreement.

Examples of SPE Component Entity in a sentence

• In order to implement the admission to Borrower or the SPE Component Entity (as applicable) of Special Member, Special Member shall execute a counterpart to the LLC Agreement.

• Prior to its admission to Borrower or the SPE Component Entity (as applicable) as Special Member, Special Member shall not be a member of Borrower or the SPE Component Entity (as applicable), but Special Member may serve as an Independent Director of Borrower or the SPE Component Entity (as applicable).

• Upon any Event of Default described in Section 11.1(g) above (with respect to Borrower and SPE Component Entity only), the Debt and all other obligations of Borrower hereunder and under the other Loan Documents shall immediately and automatically become due and payable, without notice or demand, and Borrower hereby expressly waives any such notice or demand, anything contained herein or in any other Loan Document to the contrary notwithstanding.

• At the request of Lender, Borrower shall execute a certificate in form satisfactory to Lender listing the trade names under which Borrower or the SPE Component Entity intends to operate the Property, and representing and warranting that Borrower or the SPE Component Entity does business under no other trade name with respect to the Property.

• In order to implement the admission to Borrower or such SPE Component Entity (as applicable) of Special Member, Special Member shall execute a counterpart to the LLC Agreement.

More Definitions of SPE Component Entity

SPE Component Entity shall have the meaning set forth in Section 5.1 hereof. For avoidance of doubt, on the Closing Date, Borrower is an Acceptable LLC and therefore, no SPE Component Entity exists and, so long as Borrower continues to be an Acceptable LLC, no SPE Component Entity is required.

SPE Component Entity as defined in the Xxxxx Fargo Mortgage Loan Agreement and (ii) if a CIGNA Mortgage Loan Borrower is a limited partnership or limited liability company, each general partner thereof in the case of a limited partnership, or the managing member thereof in the case of a limited liability company.

SPE Component Entity means each managing member of Borrower.

SPE Component Entity. Section 10.5

SPE Component Entity shall have the meaning set forth on Exhibit C attached hereto.

SPE Component Entity which means a limited liability company (i) whose sole asset is its general partnership interest in the Partnership and any other interests or property related thereto, (ii) which has restrictions and requirements in its organizational documents which are substantially similar to those contained in Section 21 (a)-(c) above, and (iii) whose organizational documents provide that such limited liability company will not engage in business or activity other than owning an interest in Partnership and all other activities as may be necessary or advisable in connection therewith, and will not acquire or own any assets other than its partnership interest in Partnership and any other interests or property related thereto. Upon the withdrawal, dissolution or other event that causes an SPE Component Entity to be disassociated from the Partnership, a new SPE Component Entity meeting all the criteria described above shall be appointed and such SPE Component Entity shall own at least a one percent interest in the Partnership and otherwise comply in all material respects with the special purpose entity provisions set forth in the documents or instruments evidencing and/or securing the Loan. The organizational documents of the SPE Component Entity shall provide that at all times there shall be at least one duly appointed Independent Director (as hereinafter defined) of the SPE Component Entity. For so long as the Loan shall remain outstanding, the Partners shall not amend this Section 21 without the prior consent of the Lender.

SPE Component Entity means, collectively, Borrower, Borrower Member, Operating Lessee and Operating Lessee Member.