Financing Subsidiaries. (a) Any Structured Subsidiary complies with each of the conditions set forth in clause (a) or (b) in the definition of “Structured Subsidiary”, as applicable.
Financing Subsidiaries. The Borrower will cause proceeds of investments owned by Financing Subsidiaries to repay Indebtedness of such Financing Subsidiaries to the extent required by the terms thereof, and will cause any surplus proceeds, to the extent permitted by the terms thereof, to be distributed to the Borrower promptly.
Financing Subsidiaries. In the event that the Borrower designates any direct or indirect Subsidiary as a “Financing Subsidiary,” such designation shall be effected pursuant to a certificate of a Financial Officer delivered to the Administrative Agent, which certificate shall include a statement to the effect that, to the best of such officer’s knowledge, such designation complies with the conditions set forth in clauses (a) or (b) of the definition of Financing Subsidiary set forth in Section 1.01. For the avoidance of doubt, in the case of clause (a) of the definition of Financing Subsidiary set forth in Section 1.01, compliance with Section 6.03(d) shall be determined after giving effect to any such designation.
Financing Subsidiaries. The Parent and the Borrower shall not permit any Financing Subsidiary to acquire any operating assets or other material assets (other than (i) the proceeds of Subordinated Debt permitted pursuant to Section 8.1(g), which proceeds shall immediately be transferred to the Borrower, and (ii) amounts received from the Borrower to pay interest on such Subordinated Debt to the extent such interest payment is permitted pursuant to the subordination provisions of such Subordinated Debt) or hold any capital stock or other equity interests in any Subsidiary or other Person or conduct any business other than in connection with the issuance of Subordinated Debt permitted pursuant to Section 8.1(g) and the payment of interest, from amounts received from the Borrower, on such Subordinated Debt to the extent such interest payment is permitted pursuant to the subordination provisions of such Subordinated Debt. The Parent and the Borrower shall not permit any Financing Subsidiary that is not a Subsidiary of the Borrower to fail to take any action that would be required by it pursuant to this Agreement if it were a Subsidiary of the Borrower or to take any action that would be prohibited to be taken by it pursuant to this Agreement if it were a Subsidiary of the Borrower.
Financing Subsidiaries. 86 SECTION 3.19
Financing Subsidiaries. Any Structured Subsidiary complies with each of the conditions set forth in clause (a) or (b) in the definition of “Structured Subsidiary”, as applicable. (a) Any SBIC Subsidiary complies with each of the conditions set forth in the definition of “SBIC Subsidiary.” (b) As of the Effective Date, other than Barings BDC Finance I, LLC, and Barings BDC Senior Funding I, LLC, the Borrower has no Financing Subsidiaries. SECTION 3.19
Financing Subsidiaries. The Borrower will not, nor will it permit any of its Subsidiaries to, create any new Financing Subsidiaries from and after the Third Restatement Effective Date.
Financing Subsidiaries. The Borrower may designate any wholly owned Subsidiary as a Financing Subsidiary pursuant to a certificate of an Authorized Officer delivered to the Administrative Agent with no less than five (5) Business Days prior notice, setting forth a list of Fund Investments to be sold, conveyed or otherwise transferred to such Financing Subsidiary as of such date of designation (or any other date Fund Investments are sold, conveyed or otherwise transferred to such Financing Subsidiary). Such designation shall be subject to compliance with the following as of such date of designation (or any other date Fund Investments are sold, conveyed or otherwise transferred to such Financing Subsidiary): (i) the conditions set forth in the definition of "Financing Subsidiary" have been complied with, (ii) no Default has occurred, and no Default would result from the transfer of any Fund Investments to such Financing Subsidiary, (iii) no selection procedures which are intended to be adverse to the interests of the Administrative Agent or the Secured Parties were utilized by the Borrower in the selection of the Fund Investments to be sold, conveyed or otherwise transferred, (iv) the representations and warranties set forth in Article V shall be true and correct in all material respects with the same effect as if then made (unless stated to relate solely to an earlier date, in which case such representations and warranties shall be true and correct as of such earlier date) and (v) the Asset Value Tests are satisfied before and after giving effect to such sale, conveyance or transfer. Each Subsidiary of a Financing Subsidiary shall be deemed to be a Financing Subsidiary and shall meet the criteria set forth in the definition thereof. ARTICLE IV
Financing Subsidiaries. Notwithstanding anything to the contrary set forth herein, the Borrower will not, directly or indirectly, create or maintain any Financing Subsidiary without the prior written consent of each Lender and the Administrative Agent, each in its sole discretion.
Financing Subsidiaries. (a) Any Structured Subsidiary complies with each of the conditions set forth in clause (a) or (b) in the definition of “Structured Subsidiary”, as applicable. (b) Any SBIC Subsidiary complies with each of the conditions set forth in the definition of “SBIC Subsidiary.” (c) As of the RestatementAmendment No. 4 Effective Date, other than (i) FSMP IV GP, LLC, (ii) Fifth Street Mezzanine Partners IV, L.P., (iii) FSMP V GP, LLC and (iv) Fifth Street Mezzanine Partners V, X.XXXXX Senior Funding II LLC and (ii) OCSI Senior Funding Ltd., the Borrower has no Financing Subsidiaries. SECTION 3.19.
