Comtech definition
Examples of Comtech in a sentence
If an Insolvency Proceeding is commenced by a Loan Party or any of its Subsidiaries; provided, for the avoidance of doubt, that an Insolvency Proceeding may be commenced for Beijing Comtech EF Data Equipment Repair Service Co., Ltd.
All material payments due from any Loan Party or its Subsidiaries on account of wages and employee health and welfare insurance and other benefits have been paid or accrued as a liability on the books of Comtech, except where the failure to do so could not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect.
Neither Comtech nor any Subsidiary of Comtech will create or incur any Indebtedness which is subordinated or junior in right of payment to any other Indebtedness of the Loan Parties, unless such Indebtedness is also subordinated or junior in right of payment, in the same manner and to the same extent, to the Obligations.
If a Loan Party or any of its Subsidiaries is enjoined, restrained, or in any way prevented by court order from continuing to conduct all or any material of the business affairs of Comtech and its Subsidiaries, taken as a whole.
Whenever the term "Comtech" is used in respect of a financial covenant or a related definition, it shall be understood to mean the Loan Parties and their Subsidiaries on a consolidated basis, unless the context clearly requires otherwise.
Set forth on Schedule 4.28 of the Senior Credit Agreement (as such Schedule may be updated from time to time in accordance with the Senior Credit Agreement) is a list of the Material Contracts of each Loan Party and its Subsidiaries as of the most recent date on which Comtech provided a Compliance Certificate to the Senior Credit Agreement Agent (as such Schedule may be updated from time to time in accordance with the Senior Credit Agreement).
Each Borrower hereby irrevocably appoints Comtech as the borrowing agent and attorney-in-fact for all Borrowers (the "Administrative Borrower") which appointment shall remain in full force and effect unless and until Agent shall have received prior written notice signed by each Borrower that such appointment has been revoked and that another Borrower has been appointed Administrative Borrower.
Except for the issuance or sale of Qualified Equity Interests by Comtech, each Borrower will not, and will not permit any of its Subsidiaries to, issue or sell any of its Equity Interests (other than (a) Equity Interests issued by a Subsidiary of a Loan Party to its direct parent company or (b) Equity Interests issued by a joint venture or other non-wholly-owned Subsidiary pursuant to a transaction with respect to such Equity Interests permitted by Section 6.4 or Section 6.9).
The Board Observer shall be timely notified of the time and place of any BOD Meetings (which shall be held no less than once per quarter) and, to the extent provided to any members of the Board of Directors, will be given written notice of all proposed actions to be taken by the Board of Directors (or any relevant committee thereof) of Comtech and any of its Subsidiaries at such meeting as if the Board Observer were a member thereof.
No Subsidiary of Comtech that is not a Loan Party owns, or has an exclusive license to use, any Intellectual Property that is material to the business of the Loan Parties.