Intermediate Entity definition
Examples of Intermediate Entity in a sentence
No Intermediate Entity may sell, transfer, assign or otherwise dispose of, or create or suffer to exist any Lien (other than Permitted Liens) upon, all or any portion of its interest in any Borrower or another Intermediate Entity other than to any Person becoming a Pledgor hereunder.
Each Additional Intermediate Entity and its General Partner acknowledges and confirms that it has received a copy of the Acknowledgment, the Credit Agreement and the schedules and exhibits thereto.
Administrative Agent shall not have any duty to determine or inquire into any happening or occurrence or any performance or failure of performance of any Subscriber, any Intermediate Entity or any Secured Party.
The remedies given to Administrative Agent hereunder are cumulative and in addition to any and all other rights which Administrative Agent may have against any Intermediate Entity or any General Partner or any other Person, at law or in equity, including exoneration and subrogation, or by virtue of any other agreement.
Each Additional Intermediate Entity desires to become an “Intermediate Entity” under the Intermediate Entity Acknowledgment, dated as of [●], 202_, executed by, inter alios, [Name of Entity], a [type of entity] (as amended, modified, supplemented or restated from time to time, the “Acknowledgment”).