Designated Joint Venture means, (a) Mountain Valley Pipeline, (b) Eureka, (c) if so elected by the Borrower, with the prior written consent of the Administrative Agent, one or more of Borrower’s non-wholly owned subsidiaries, whether owned on the Closing Date or created or acquired after the Closing Date and (d) any direct or indirect subsidiary of any Designated Joint Venture under clause (a), (b) or (c) of this definition while such election is in effect (it being understood and agreed that, for the avoidance of doubt, if any Designated Joint Venture under clause (a), (b) or (c) of this definition (i) would be a wholly-owned Subsidiary of the Borrower but for its status as a Designated Joint Venture, the Borrower may make an election to designate such Designated Joint Venture as a Subsidiary (it being further understood and agreed that the Borrower may not subsequently elect to re-designate a wholly-owned Subsidiary as a Designated Joint Venture) or (ii) would cease to have any direct or indirect ownership retained by the Borrower, such entity shall, automatically and without further notice or other action, cease to be a Designated Joint Venture for all purposes under this Agreement).
Designated Joint Venture means any Joint Venture for whom collections in an aggregate amount exceeding $2,000,000 on assets owing to such entity have been deposited into a Special Account during any one month during the most recent consecutive twelve (12) month period determined on the basis of the Cash Collections Report(s) for such period; provided, however, that if the Cash Collections Reports for any three (3) consecutive months indicate that the aggregate amount of such collections actually deposited into a Special Account for any month during the immediately preceding twelve (12) month period is less than $1,500,000, such Joint Venture shall cease to be a “Designated Joint Venture” until such later date, if any, as of which such collections again exceed $2,000,000 in any month.
Designated Joint Venture means either (a) the potential joint venture involving the Designated Assets that is described in the same writing delivered to the Administrative Agent and the Lenders prior to the Effective Date that describes the Designated Assets or (b) the joint venture between WIL-Ireland and Schlumberger Limited more particularly described in the press release of WIL-Ireland dated March 24, 2017 captioned “Weatherford and Schlumberger to Form OneStim Joint Venture”.
Examples of Designated Joint Venture in a sentence
Within 30 days of being identified as a Designated Joint Venture, the Transferor shall implement Standing JV Sweep Procedures in respect of any Special Accounts to which collections on assets of any Designated Joint Venture may be remitted.
Within 30 days of being identified as a Designated Joint Venture, the Transferor shall implement Standing JV Sweep Procedures in respect of any Special Accounts to which collections on assets of any Designated Joint Venture may be remitted.
Create or acquire any new Subsidiary after the Closing Date other than Railcar Leasing Subsidiaries, Designated Joint Venture Entities and Subsidiaries created or acquired in accordance with Section 7.12.
More Definitions of Designated Joint Venture
Designated Joint Venture in Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:
Designated Joint Venture has the meaning assigned to such term in Section 6.06(c).
Designated Joint Venture means, as of any date of determination, any Permitted Joint Venture in which any Restricted Party holds an interest and which has been designated by the Borrower as a Designated Joint Venture on a Compliance Certificate; provided that, as of the Effective Date, each Permitted Existing Joint Venture shall be designated as a Designated Joint Venture; provided, however, that any designation of a Permitted Joint Venture as a Designated Joint Venture by the Borrower shall be irrevocable from and after the date of such designation, and no Designated Joint Venture may be re-designated as an Excluded Joint Venture.
Designated Joint Venture means the potential joint venture involving the Designated Assets that is described in the same writing delivered to the Administrative Agent and the Lenders prior to the Effective Date that describes the Designated Assets.
Designated Joint Venture means, (a) Mountain Valley Pipeline, (b) Eureka, (c) if so elected by the Borrower under the Revolving Credit Agreement (or, in the event no Revolving Credit Agreement is in effect or the terms of the Revolving Credit Agreement no longer permit the Borrower to make such election (or an equivalent election having a similar effect) thereunder, with the prior written consent of the Administrative Agent), one or more of Borrower’s non-wholly owned subsidiaries, whether owned on the Closing Date or created or acquired after the Closing Date and (d) any direct or indirect subsidiary of any Designated Joint Venture under clause (a), (b) or (c) of this definition while such election is in effect (it being understood and agreed that, for the avoidance of doubt, if any Designated Joint Venture under clause (a), (b) or (c) of this definition (i) would be a wholly-owned Subsidiary of the Borrower but for its status as a Designated Joint Venture, the Borrower may make an election to designate such Designated Joint Venture as a Subsidiary (it being further understood and agreed that the Borrower may not subsequently elect to re-designate a wholly-owned Subsidiary as a Designated Joint Venture) or (ii) would cease to have any direct or indirect ownership retained by the Borrower, such entity shall, automatically and without further notice or other action, cease to be a Designated Joint Venture for all purposes under this Agreement).
Designated Joint Venture means, Mountain Valley Pipeline, and, if so elected by the Borrower, with the prior written consent of the Administrative Agent, one or more of Borrower’s non-wholly owned subsidiaries, whether owned on the Closing Date or created or acquired after the Closing Date.
Designated Joint Venture means (x) each of the entities listed on Schedule III and their respective Subsidiaries and (y) any other corporation, partnership, joint venture, limited liability company or other business entity designated as a “Designated Joint Venture” in a written notice executed by a Responsible Officer of the REIT and delivered to the Administrative Agent, so long as, in the case of each of clauses (x) and (y), (i) the REIT and/or its Wholly-Owned Subsidiaries do not, directly, indirectly or beneficially own more than 50% of the Equity Interests of such Person having ordinary voting power for the election of directors or members of any other governing body of such Person (or otherwise have the power and authority to elect or appoint more than a majority of the directors or members of any other governing body of such Person) and (ii) the REIT and/or its Wholly-Owned Subsidiaries do not have voting, approval, veto or other similar rights with respect to matters involving the management, operations or actions of such Person that are more expansive than those of the REIT and its Wholly-Owned Subsidiaries set forth in the Organization Documents (as in effect on the Restatement Effective Date) of the entities listed on Schedule III.