Examples of Wholly-Owned Foreign Subsidiary in a sentence
Upon any such designation of a Wholly-Owned Foreign Subsidiary and the consent of each of the Lenders with a Revolving Commitment, which will not be unreasonably withheld, conditioned or delayed, such Subsidiary shall be a Subsidiary Borrower hereunder (with the related rights and obligations) and shall be entitled to request Revolving Loans.
Upon any such designation of a Wholly-Owned Foreign Subsidiary and the consent of each of the Lenders with a Revolving Commitment, which will not be unreasonably withheld, such Subsidiary shall be a Subsidiary Borrower hereunder (with the related rights and obligations) and shall be entitled to request Revolving Loans.
The undersigned, being a Wholly-Owned Foreign Subsidiary of Silgan, desires to become a [Foreign Revolving Borrower] [Foreign Incremental Term Loan Borrower] for purposes of (and pursuant to Section 5.03(b) of) the Credit Agreement, effective from the date hereof and upon receiving the consent of the Administrative Agent.
The Borrower hereby designates [_____________] (the “Designated Subsidiary”), a Wholly-Owned Foreign Subsidiary of the Borrower and a [corporation duly incorporated] under the laws of [_______]], as a “Subsidiary Borrower” in accordance with Section 2.20 of the Credit Agreement until such designation is terminated in accordance with Section 2.20 of the Credit Agreement and sets forth on Schedule 1 hereto the contact information about such Designated Subsidiary specified on such schedule.
To the extent that all of the Qualified Assets owned or leased by any such Wholly-Owned Domestic Subsidiary and/or by its Wholly-Owned Foreign Subsidiary are removed or released from the Borrowing Base pursuant to Section 8.15 or Section 8.16 of this Agreement, such Subsidiary shall no longer be deemed to be a Qualified Asset Guarantor for the purposes of this Agreement.