Borrowing Base Party definition

Borrowing Base Party means each US Borrowing Base Party, each UK Borrowing Base Party and each Canadian Borrowing Base Party.

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Borrowing Base Party means Borrower and such other Loan Parties as are acceptable to Agent from time to time, subject to completion of a collateral audit with respect to such other Loan Parties, the results of which shall be satisfactory to the Agent.

Borrowing Base Party means each Loan Party; provided that Gogo Canada shall only become a Borrowing Base Party from and after the Borrowing Base Party Joinder Date.

Examples of Borrowing Base Party in a sentence

Each Loan Party and each other Borrowing Base Party will comply with all Applicable Laws (excluding Environmental Laws, compliance with which is governed by Section 7.24 and Anti-Corruption Laws and Sanctions, compliance with which is governed by the following sentence of this Section 7.7) to which it may be subject, to the extent that noncompliance would reasonably be expected to have a Material Adverse Effect.
Each Loan Party and each other Borrowing Base Party will maintain, preserve, protect and keep its Property in good repair, working order and condition (ordinary wear and tear and casualty excepted) in accordance with the general practice of other businesses of similar character and size, except to the extent that the failure to do so would not reasonably be expected to have a Material Adverse Effect.
In the event that any Loan Party or any Borrowing Base Party receives any payment of any Intercompany Debt at a time when such payment is prohibited by this Section 10.5, such payment shall be held by such Loan Party or Borrowing Base Party, in trust for the benefit of, and shall be paid forthwith over and delivered, upon written request, to, the Administrative Agent.
Each Loan Party and each other Borrowing Base Party will maintain with financially sound and reputable insurance companies insurance on all Inventory in such amounts and covering such risks as is customary for companies engaging in the same or similar businesses and owning similar properties in the localities where the Loan Parties and the Borrowing Base Parties operate, except that to the customary extent such Loan Parties and other Borrowing Base Parties may be self-insured.
The Borrower shall not, and shall not permit any Borrowing Base Party to, enter into any intercompany promissory notes evidencing the obligations owed to the Borrower by Millrose Properties Holdings and the PropertyCo LLCs listed on Schedule I to the Initial Closing Date Intercompany Note other than a Closing Date Intercompany Note, except to the extent such intercompany promissory note is delivered solely to the Administrative Agent, accompanied by instruments of transfer duly executed in blank.

More Definitions of Borrowing Base Party

Borrowing Base Party means Borrower and its Subsidiaries.

Borrowing Base Party means (a) the Borrower and/or (b) any Subsidiary Guarantor.

Borrowing Base Party means the Borrower, Surgical Services and any other Restricted Subsidiary that is a Loan Party designated as a Borrowing Base Party after the Amendment Closing Date by written notice to the Administrative Agent from the Borrower and consented to by the Administrative Agent (such consent not to be unreasonably withheld or delayed and in any event to be decided within 60 days of delivery of such notice). Failure of the Administrative Agent to notify Borrower of its decision to withhold consent as provided herein shall be deemed consent.

Borrowing Base Party means any one of them; provided that, notwithstanding anything to the contrary contained in the foregoing or in the definition of either Excluded Subsidiary or Immaterial Subsidiary, each Subsidiary of Borrower that constitutes a Borrowing Base Party shall be a Loan Party and a Restricted Subsidiary for all purposes and shall not, in any event, constitute an Excluded Subsidiary or an Immaterial Subsidiary except that, so long as no Default or Event of Default then exists or would be caused thereby and upon at least 10 Business Days’ (and no more than 15 Business Days’) (or such shorter or longer periods as may be permitted by Agent in its sole discretion) written notice from Borrower to Agent, Borrower may elect to exclude from the definition of Borrowing Base Parties any Subsidiary that would otherwise have qualified as an Immaterial Subsidiary or an Excluded Subsidiary, but for the restrictions contained herein, as of the effective date for such exclusion as specified in Borrower’s election notice, provided, that no Overadvance would arise as a result of such exclusion, and from and after the effective date of such exclusion, such Subsidiary shall at all times thereafter cease to be a Borrowing Base Party for all purposes of the Agreement and the other Loan Documents.

Borrowing Base Party shall have the meaning set forth in the PNC Credit Agreement.

Borrowing Base Party means (x) each Loan Party and (y) each Restricted Subsidiary that is a party to any Intercompany Note. The Borrower shall cause any Person that is a Borrowing Base Party under the Revolving Credit Agreement to become a party to an Intercompany Note such that it is a Borrowing Base Party hereunder.

Borrowing Base Party the Borrower and any of its Wholly Owned Subsidiaries that is a Subsidiary Guarantor.