Examples of Controlled by Borrower in a sentence
Borrower owns 50 percent or more of the issued and outstanding Capital Securities of each Project Subsidiary or such Project Subsidiary is otherwise Controlled by Borrower.
For purposes of the foregoing, an action will be "Substantially Controlled by Borrower" if such action is substantially controlled directly by Borrower or through one or more Financing Partnerships either by agreement of the parties, through the provisions of a Person's formation documents or otherwise.
Borrower and each Subsidiary Controlled by Borrower shall each maintain in effect and enforce policies and procedures designed to ensure compliance by Borrower and such Subsidiaries and their respective directors, officers and employees and their agents with Anti-Corruption Laws and applicable Sanctions.
Borrower and each Subsidiary Controlled by Borrower has filed all federal, state and local tax returns required to be filed (subject to extensions granted) and has paid all taxes, assessments and governmental charges and levies thereon to be due, including interest and penalties.
Preserve and maintain the existence and good standing of Borrower and each Subsidiary Controlled by Borrower in the jurisdiction of its formation and the rights, privileges and franchises of Borrower and each such Subsidiary in each case where failure to so preserve or maintain would be reasonably likely to result in a Material Adverse Change in Borrower.
In the event Borrower terminates any officer or member of the Condominium Board who has been elected or appointed, or who is Controlled, by Borrower or its Affiliates, Borrower shall cause any new replacement officer or member further elected or appointed by Borrower to deliver to Lender a conditional resignation in the form executed by the officers and members of the Condominium Board on the date hereof.
Subsidiary" means any Person of which more than fifty percent (50%) or more of the ordinary voting power for the election of a majority of the members of the board of directors or other governing body of such Person is held or Controlled by Borrower or a Subsidiary of Borrower; or any other such organization the management of which is Controlled by Borrower or a Subsidiary of Borrower; or any joint venture, whether incorporated or not, in which Borrower has more than fifty percent (50%) ownership interest.
Borrower owns 50 percent or more of the issued and outstanding Capital Securities of the Subsidiaries (and owns 100 percent of the issued and outstanding Capital Securities of Ark Real Estate, Ark Shuckers and Ark Island), or such Subsidiaries are otherwise Controlled by Borrower.
SUBSIDIARY" means any Person of which more than fifty percent (50%) or more of the ordinary voting power for the election of a majority of the members of the board of directors or other governing body of such Person is held or Controlled by Borrower or a Subsidiary of Borrower; or any other such organization the management of which is Controlled by Borrower or a Subsidiary of Borrower; or any joint venture, whether incorporated or not, in which Borrower has more than fifty percent (50%) ownership interest.
So long as any amount shall remain outstanding under the Revolving Credit Note or so long as the Commitment shall remain in effect, Borrower will, and will cause each Subsidiary Controlled by Borrower to, unless Lender shall otherwise consent in writing: (a) Compliance with Laws, Etc.