Eligible Obligor definition

Eligible Obligor. On any date of determination, any Obligor that:

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Eligible Obligor means, as of any date of determination, each Obligor in respect of a Receivable that satisfies the following eligibility criteria:

Eligible Obligor means, on any day, any Obligor that satisfies each of the following requirements:

Examples of Eligible Obligor in a sentence

• Unless otherwise disclosed to Lender in writing, Borrower has not received actual notice of (y) actual or imminent bankruptcy of any Obligor regarding any Eligible Obligor Loan Receivable or (z) actual or threatened litigation regarding the validity or enforceability of any Eligible Obligor Loan Receivable or the validity, enforceability or priority of any Obligor Loan Mortgage or Lien on any Obligor Loan Collateral.

• Unless consented to in writing by Agent in its sole discretion, Borrower will not sell, grant or otherwise convey a participating interest or other ownership interest (legal, beneficial or otherwise) in the unfunded commitments, outstanding loans, the obligations of the applicable Obligor, or the other rights and interests of Borrower in any Eligible Obligor Loan Receivable to another Person.

• Borrower represents that it is the sole legal and beneficial owner of each Eligible Obligor Loan Receivable, and all related Collateral, and that no participation interest or other ownership interest (legal, beneficial or otherwise) has been sold or is otherwise outstanding with respect thereto, unless such participation interest or other ownership interest has been consented to by Agent in its sole discretion.

• With respect to each Eligible Obligor Loan Receivable, Borrower has duly recorded (or delivered for recording and obtained a filing receipt from the appropriate recording office for recording) the Obligor Loan Mortgage and duly filed (or delivered for filing and obtained a filing receipt from the appropriate filing office for filing) financing statements with respect to any personal property Collateral for such Eligible Obligor Loan Receivable against the applicable Obligor in all applicable jurisdictions.

More Definitions of Eligible Obligor

Eligible Obligor means, on any day, any Obligor that (i) is a Person (other than a natural person) that is duly organized and validly existing under the laws of, the United States or any State thereof, (ii) is a legal operating entity or holding company, (iii) is not an Official Body, and (iv) is not an Affiliate of, or controlled by, the Borrower, the Servicer or the Equityholder.

Eligible Obligor. Any Obligor:

Eligible Obligor. On any Measurement Date, any Obligor that:

Eligible Obligor means, at any time, an Obligor which is:

Eligible Obligor. On any date of determination, any Obligor (or guarantor, as applicable) that:

Eligible Obligor means, on any day, any Obligor that satisfies each of the following requirements (unless specifically determined to be an Eligible Obligor by Required Lenders following a review thereof on a case-by-case basis):

Eligible Obligor means, at any time, any Obligor: