WNBA Subsidiary definition

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WNBA Subsidiary means any Subsidiary of the Borrower that has been formed solely to own or operate a professional basketball team of the WNBA in a designated city and conduct any business related thereto, including the incurrence of Non-Recourse WNBA Debt.

WNBA Subsidiary means Mohegan Basketball Club, LLC, a limited liability company formed under the Laws of the Tribe and a wholly owned Subsidiary of the Authority, which is the owner and operator of the Women’s National Basketball Association franchise known as the Connecticut Sun. SCHEDULE A-1 This GUARANTEE AGREEMENT, dated as of [ ], 20[ ] (as amended, restated, supplemented or otherwise modified from time to time in accordance with its terms, this “Guarantee”), by [Downs Racing, L.P., Backside, L.P., Mill Creek Land, L.P., Northeast Concessions, L.P., Mohegan Commercial Ventures PA, LLC, Mohegan Basketball Club, LLC, Mohegan Ventures-Northwest, LLC, Mohegan Golf, LLC, Mohegan Ventures Wisconsin, LLC, Wisconsin Tribal Gaming, LLC and MTGA Gaming, LLC]1 (together with their respective successors and assigns, and together with any other entity that may become a party hereto by executing a Guarantee Joinder, the “Guarantors”) is in favor of each of the Noteholders (as such term is hereinafter defined).

Examples of WNBA Subsidiary in a sentence

It is expressly agreed that the results of operation of the WNBA Subsidiary will be consolidated with those of the Borrower for purposes of determining compliance with the covenants set forth in Sections 7.12, 7.13 and 7.14 of the Loan Agreement.
The Borrower will not, either directly or indirectly, be liable for any obligations of the WNBA Subsidiary, or have any continuing obligations to the Women’s National Basketball Association or its Affiliates, other than (i) obligations of the Borrower to honor scheduled arena dates for home games of the WNBA franchise and related basketball activities, and (ii) obligations under the Borrower’s guaranty of the WNBA Subsidiary’s obligations under the WNBA Agreements.
The Borrower will not, either directly or indirectly, be liable for any obligations of the WNBA Subsidiary, or have any continuing obligations to the National Basketball Association or its Affiliates, other than pursuant to the WBNA Agreements.
Borrower will not permit the WNBA Subsidiary to enter into any substantial operations other than the operation of a WNBA franchise, nor permit the WNBA Subsidiary to own any substantial assets other than the WNBA franchise.
As of the Issue Date, the Pocono Subsidiaries, the WNBA Subsidiary, Mohegan Ventures-Northwest, LLC, and Mohegan Golf, LLC shall be Guarantors.
The Tribe has no Subsidiaries and no Affiliates, other than the WNBA Subsidiary, which are included in or controlled by or through Borrower.
Borrower will not permit the WNBA Subsidiary to enter into any substantial operations other than the operation of a WNBA franchise, nor permit the WNBA Subsidiary to own any substantial assets other than the WNBA franchise and the assets related to its operations.
It is expressly agreed that each of the covenants set forth in Articles 6, 7 and 8 the Loan Agreement to which the Borrower is subject, otherthan Sections 6.11, 7.7 and 7.16 shall be deemed applicable to the WNBA Subsidiary, mutatis mutandis it being understood that the transactions contemplated by this Amendment or by the WNBA Agreements shall not be deemed to violate Section 7.10 of the Loan Agreement.
As of the Closing, the Pocono Subsidiaries, the WNBA Subsidiary, Mohegan Ventures-Northwest, LLC, Mohegan Golf, LLC, Mohegan Ventures Wisconsin, LLC, Wisconsin Tribal Gaming, LLC and MTGA Gaming, LLC shall be Guarantors.
As of the Issue Date, the Pocono Downs Subsidiaries, the WNBA Subsidiary, Mohegan Ventures-Northwest, LLC, Mohegan Golf, LLC, Mohegan Ventures Wisconsin, LLC, Wisconsin Tribal Gaming, LLC and MTGA Gaming, LLC shall be Guarantors.

More Definitions of WNBA Subsidiary

WNBA Subsidiary means any Subsidiary of TeamCo that has been formed solely to own or operate a professional basketball team of the WNBA in a designated city and conduct any business related thereto.