Subsidiary Financing definition
Examples of Subsidiary Financing in a sentence
If the Company designates a Subsidiary as a Dual Subsidiary in accordance with Section 6.19, then the Service Loaner Vehicle Floorplan Borrower shall repay each Service Loaner Vehicle Floorplan Loan and each Service Loaner Vehicle Swing Line Loan with respect to any Service Loaner Vehicle that is subsequently financed by Permitted Dual Subsidiary Indebtedness immediately upon the Dual Subsidiary Financing Commencement Date.
Use the proceeds of the Loans made and Letters of Credit issued hereunder for any purpose other than, consistent with the terms and conditions hereof (i) to refinance Debt incurred by any Subsidiary of the Borrowers under any Subsidiary Financing, (ii) to fund Permitted Investments including through contributions of capital to such Borrower’s Subsidiaries and (iii) for other purposes permitted in the Charter and Bylaws or similar Governing Documents.
The following event is specified as an additional condition to the effectiveness of the Loan Agreement within the meaning of Section 12.01 (c) of the General Conditions, namely, that at least one Subsidiary Financing Agreement has been executed on behalf of the Borrower and a Participating Bank.
The following is specified as an additional matter, within the meaning of Section 12.02 (c) of the General Conditions, to be included in the opinion or opinions to be furnished to the Bank, namely, that the Subsidiary Financing Agreement referred to in Section 6.01 of this Agreement has been duly authorized or ratified by the parties thereto and is legally binding upon such parties in accordance with its terms.
Except as the Association shall otherwise agree, the Recipient shall not assign, amend, abrogate or waive the Subsidiary Financing Agreement or any of its provisions.