Competitor Control definition

Competitor Control means, with respect to any Person, a Competitor’s (a) control or beneficial ownership, directly or indirectly, of 10% or more of any class of securities (other than promissory notes or loan certificates or pass-through certificates in respect of promissory notes or loan certificates that have no rights to vote on the governance of such entity), directly or indirectly, of such Person, or (b) ability to elect or election of a director, member trustee or similar Person of such Person.
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Competitor Control has the meaning assigned to such term in the Servicing Agreement.
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Examples of Competitor Control in a sentence

  • Subject to the absence of Competitor Control with respect thereto, the Servicer hereby consents to the appointment of Genesis as the initial Manager.

  • Without limiting the foregoing, GFL represents and warrants to the Servicer that Competitor Control with respect to the Manager shall automatically result in a replacement of the Manager under the Management Agreement.

  • The Manager hereby agrees that it will give the Issuer, the Replacement Manager, the Policy Provider and the Servicer Written Notice of the Manager being subject to Competitor Control by the close of the third Business Day following the date on which such Competitor Control occurs.

  • Immediately upon Competitor Control occurring with respect to the Manager, GFL agrees that the Manager under the Management Agreement shall be replaced and another Person shall be appointed as Manager in compliance with the foregoing provisions of this Section.

  • Notwithstanding the foregoing, the Manager is entitled to delegate or subcontract all or a portion of the Issuer Group Services to any entity so long as such entity is not subject to Competitor Control (a “Manager Delegate”); provided that the Manager shall remain primarily liable hereunder.

  • Each such telephonic Interest Election Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Interest Election Request, and all such written Interest Election Requests (including with respect to Foreign Currency Loans) shall be in a form approved by the Administrative Agent and signed by the Parent Borrower, the applicable Subsidiary Term Borrower or the applicable Foreign Subsidiary Borrower, as the case may be.

  • The Replacement Manager hereby agrees that it will give the Issuer, the Manager, the Policy Provider and the Servicer Written Notice of the Replacement Manager being subject to Competitor Control by the close of the third Business Day following the date on which such Competitor Control occurs.

  • The Manager agrees that it shall cooperate and coordinate with the Replacement Manager to enable the Replacement Manager to take over the duties of the Manager under this Agreement upon Competitor Control as contemplated by Section 7.02(a) hereof.

  • Subject to the absence of Competitor Control with respect thereto, the Servicer hereby consents to the appointment of Genesis as the initial Manager and to Deutsche Bank Trust Company Americas as initial Cash Manager.