The Loan Parties definition

The Loan Parties shall: pay, as they become due and payable, all taxes and unemployment contributions and other charges of any kind or nature levied, assessed or claimed against any Loan Party or the Collateral by any Person whose claim could result in an Encumbrance upon any asset of any Loan Party or by any Governmental Authority, provided, however, that (i) no such taxes, contributions and charges are required to be paid if being contested in good faith by such Loan Party, by appropriate proceedings diligently instituted and conducted, without danger to any material risk to the Collateral, and adequate reserves or appropriate provision, if any, as shall be required in conformity with GAAP, shall have been made therefor, and provided that no Encumbrance has been filed on account thereof, and (ii) the inadvertent failure of a Loan Party to pay any such taxes, contributions, and other charges when due shall not constitute an Event of Default hereunder as long as (A) the aggregate amount thereof does not exceed $500,000, and (B) no Encumbrance has been filed on account thereof, and (C) promptly upon the date an Authorized Officer obtains knowledge or should have obtained knowledge thereof, the Borrowers make payment of such taxes, contributions or charges; properly exercise any trust responsibilities imposed upon any Loan Party by reason of withholding from employees' pay or by reason of any Loan Parties' receipt of sales tax or other funds for the account of any third party; timely make all contributions and other payments as may be required pursuant to any Employee Benefit Plan now or hereafter established by any Loan Party; and timely file all tax and other returns and other reports with each Governmental Authority to whom any Loan Party is obligated to so file, provided that the inadvertent failure of a Loan Party to file any such returns or reports when due shall not constitute an Event of Default hereunder as long as (A) the aggregate amount of taxes, assessments or charges with respect to such returns does not exceed $500,000, and (B) no Encumbrance has been filed on account thereof, and (C) promptly upon the date an Authorized Officer obtains knowledge or should have obtained knowledge thereof, the Borrowers file such returns and/or reports and make payment of any amounts required to be paid on account thereof.
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The Loan Parties. Restricted Investments: (a) of the type described in clause (i) of the definition of Permitted Investment in Excluded Entities collectively are $_______; (b) of the type described in clause (ii) of the definition of Permitted Investment in Excluded Entities collectively are $_______; and __________________________________
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Examples of The Loan Parties in a sentence

  • The Loan Parties shall timely pay to the relevant Governmental Authority in accordance with applicable law, or at the option of the Administrative Agent timely reimburse it for, Other Taxes.

  • The Loan Parties shall indemnify the Administrative Agent, the L/C Issuer, each Lender and the Related Parties of each of them from all losses, costs, expenses and liabilities resulting from the reliance by such Person on each notice purportedly given by or on behalf of a Loan Party.

  • The Loan Parties shall timely pay to the relevant Governmental Authority in accordance with applicable law, or at the option of the Administrative Agent timely reimburse it for the payment of, any Other Taxes.

  • The Loan Parties consent to the publication by the Administrative Agent or any Lender of customary advertising material relating to the transactions contemplated hereby using the name, product photographs, logo or trademark of the Loan Parties.

  • The Loan Parties shall be deemed to have authorized Agent and its Affiliates and the Lenders to treat Borrower Materials marked “PUBLIC” or otherwise at any time filed with the SEC as not containing any material non-public information with respect to the Loan Parties or their securities for purposes of United States federal and state securities laws.

  • The Loan Parties shall timely pay to the relevant Governmental Authority in accordance with Applicable Law, or at the option of the Administrative Agent timely reimburse it for the payment of, any Other Taxes.

  • The Loan Parties shall timely pay to the relevant Official Body in accordance with applicable Law, or at the option of the Administrative Agent timely reimburse it for the payment of, any Other Taxes.

  • The Loan Parties are the legal and beneficial owners of the Collateral free and clear of any Lien, except for the liens and security interests created or permitted under the Loan Documents.

  • The Loan Parties agree to promptly take such action, upon the request of the Administrative Agent, as is necessary to carry out the intent of this Amendment.

  • The Loan Parties shall, promptly following a request by the Administrative Agent or any Lender, provide all documentation and other information that the Administrative Agent or such Lender requests in order to comply with its ongoing obligations under applicable “know your customer” and anti-money laundering rules and regulations, including the Act.

Related to The Loan Parties

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

  • Loan Parties means, collectively, the Borrower and each Guarantor.

  • Canadian Loan Parties means the Canadian Borrower and the Canadian Guarantors.

  • Credit Parties means the Borrower and the Guarantors.

  • Domestic Loan Parties means, collectively, the Domestic Borrowers and each Subsidiary of the Lead Borrower that is or becomes a guarantor of the Obligations. “Domestic Loan Party” means any one of such Persons.