Allocatees definition
Examples of Allocatees in a sentence
This Allocation Agreement shall be governed by and construed in accordance with Federal law to the extent such Federal law is applicable, and to the extent Federal law is not applicable, this Allocation Agreement shall be governed by and construed in accordance with the law of the State of formation of the Allocatee or its Subsidiary Allocatees, as the case may be.
The Allocatee and each of its Subsidiary Allocatees are hereby jointly and severally liable for any event of default under Section 8.1 of this Allocation Agreement whether the Allocatee or any of its Subsidiary Allocatees incurs such default.
The Subsidiary Allocatee(s) listed in Section 3.2(c) of the Allocation Agreement are Subsidiaries of the Allocatee and the Allocatee has a controlling influence over the investment decisions of each Subsidiary Allocatee.
If such an event of default occurs, the Fund may, in its sole discretion, subject to Section 8.6 of this Allocation Agreement, impose any of the remedies listed in Section 8.3 of this Allocation Agreement jointly or severally upon the Allocatee and its Subsidiary Allocatees, except that Section 8.3(b) of this Allocation Agreement shall not be imposed with respect to any investment commitments related to a NMTC Allocation made to a non-defaulting Allocatee or Subsidiary Allocatee, as determined by the Fund.
The Allocation Agreement and all documents related thereto to which the Allocatee or the Subsidiary Allocatee is a party and executed and delivered by the Allocatee or Subsidiary Allocatee as of the date hereof constitute the legal, valid and binding obligations of the Allocatee [and the Subsidiary Allocatees] enforceable in accordance with their respective terms.
To our knowledge, there is no suit, action, proceeding, or investigation, pending or threatened against the Allocatee [or the Subsidiary Allocatees] that questions the validity of the Allocation Agreement or any actions taken or to be taken pursuant thereto.
For purposes of this Notice of Allocation, the term "Allocatee" includes the allocation recipient and any Subsidiary Allocatees, as the case may be.
Unless otherwise provided in guidance issued by the Fund, no later than 180 days after the end of the Allocatee’s fiscal year in which the Allocatee or its Subsidiary Allocatee(s) issues its first Qualified Equity Investment and each fiscal year of the Allocatee thereafter, the Allocatee shall deliver to the Fund the Allocatee’s institution-level report.
The Allocatee (or its Subsidiary Allocatees) shall not become an Affiliate of or member of a common enterprise (as defined in the Application, NOAA and related CDFI Fund guidance) with another entity that received a NMTC Allocation in this round of the NMTC Program (or its Subsidiary transferee), at any time after the submission of the Allocation Application.
Any and all Subsidiary Allocatee(s) that are parties to, or may become parties to, this Allocation Agreement hereby authorize the Allocatee to execute amendments to this Allocation Agreement on behalf of such Subsidiary Allocatee(s).