SPE Status Sample Clauses
The "SPE Status" clause defines the requirement for a party, typically a company, to maintain its status as a Special Purpose Entity (SPE) throughout the duration of an agreement. This clause often obligates the party to ensure that the SPE is legally distinct, properly organized, and operated solely for the specific transaction or purpose outlined in the contract. By doing so, it helps isolate financial risk and protect the assets or obligations associated with the transaction from the general liabilities of the parent or affiliated entities, thereby providing assurance to counterparties and investors.
SPE Status. Nothing contained in this Section 6.15c shall be construed to permit any Transfer which would result in a breach of any representation, warranty or covenant of Borrower under Section 5.2 above.
SPE Status. Evidence, satisfactory to the Administrative Agent, that each of the Borrower and the Parent Guarantor qualifies as a SPE and that the execution and performance by the Loan Parties under the Loan Documents shall not affect such status.
SPE Status. The Transfer will not affect the Borrower’s status as a single purpose, bankruptcy remote entity as described in, or cause a violation of any of the provisions of Section 3.1.24 of the Loan Agreement (as defined in Exhibit A).
SPE Status. Nothing contained in this Section 6.15c shall be construed to permit any Transfer which would result in a breach of any representation, warranty or covenant of Mortgagor under Section 5.2 above. Notwithstanding anything to the contrary contained in this Section 6.15c, if such transfer in Section 6.15(c)(ii) above results in a direct equity transfer in Mortgagor or in any Restricted Party whose sole asset is a direct or indirect equity ownership interest in Mortgagor, it shall be a condition precedent to any such transfer that Mortgagor deliver to Mortgagee a New Non-Consolidation Opinion in form and content and rendered by counsel satisfactory to Mortgagee in its sole and absolute discretion and (C) such New Non-Consolidation Opinion shall be delivered to Mortgagee, not less than 30 days’ prior to such transfer (except with respect to a transfer pursuant to Section 6.15(ii)(B), a New Consolidation Opinion shall be delivered to Mortgagee 30 days after such transfer).
SPE Status. Take all appropriate steps to cause the Pledgor to be and to remain an SPE at all relevant times until the Guaranteed Obligations are paid and performed in full. “SPE” shall mean a limited liability company whose Certificate of Formation will at all times on and after the date hereof include all of the following provisions of this definition of SPE:
SPE Status. Nothing contained in this Section 6.15c shall be construed to permit any Transfer which would result in a breach of any representation, warranty or covenant of Trustor under Section 5.2 above. Notwithstanding anything to the contrary contained in this Section 6.15c, if a nonconsolidation opinion was required as a condition to closing of the Loan, (A) Trustor shall deliver to Beneficiary at least 60 days’ prior written notice of any Transfer under Section 6.15c(ii)(A) or (C) above, (B) if required by Beneficiary, it shall be a condition precedent to any Transfer under Section 6.15c(ii)(A) or (C) above that Trustor deliver to Beneficiary a current nonconsolidation opinion in form and content and rendered by counsel satisfactory to Beneficiary in its sole and absolute discretion and (C) such a current nonconsolidation opinion shall be delivered to Beneficiary, not more than 60 days’ following any Transfer under Section 6.15c(ii)(B) above.
SPE Status. The Transfer will not affect the Borrower’s status as a single purpose, bankruptcy remote entity as described in, or cause a violation of any of the provisions of Section 3.1.24 of the Loan Agreement (as defined in Exhibit A).