Limited Conditionality Provision as defined in Section 4.1.
Limited Conditionality Provision means that, to the extent any Collateral (including the grant or perfection of any security interest therein) is not or cannot be provided on the Effective Date (other than the grant and perfection of security interests in (x) assets of the Company and any other Loan Party with respect to which a Lien may be perfected solely by the filing of a financing statement under the UCC or (y) Equity Interests, if any, of Grand Design or any wholly-owned Pledge Subsidiary of Grand Design with respect to which a Lien may be perfected by the delivery of certificates representing such Equity Interests (to the extent required to be pledged hereunder and received from the Company after its use of commercially reasonable efforts to do so)) after the Company’s use of commercially reasonable efforts to do so or without undue burden or expense, then the provision of such Collateral (including the grant or perfection of any security interest therein) shall not constitute a condition precedent to the effectiveness of this Agreement on the Effective Date and, notwithstanding any provisions set forth in Section 5.14 to the contrary, such Collateral shall not be required to be provided (including the grant and perfection of any security interest therein) until the ninetieth (90th) day following the Effective Date (or such later date as may be agreed upon by the Administrative Agent in its reasonable discretion).
Limited Conditionality Provision shall have the meaning assigned to such term in Section 5.2.
Examples of Limited Conditionality Provision in a sentence
Subject to the Limited Conditionality Provision, all actions necessary to establish that the Administrative Agent will have a perfected first priority security interest (subject to liens permitted under the Credit Documentation) in the Collateral shall have been taken.
Subject to the Limited Conditionality Provision, the Administrative Agent shall have received in form and substance reasonably satisfactory to it, evidence that adequate insurance, including without limitation, casualty and liability insurance, required to be maintained under the Agreement is in full force and effect.
Subject in all respects to the Limited Conditionality Provision in the last paragraph of this Section 5.2, with respect to the Tranche B Term Loan, all documents and instruments necessary to create and perfect a first priority security interest (subject to liens permitted under the Loan Documents) in the Collateral shall have been delivered by the Loan Parties.
Subject in all respects to the Limited Conditionality Provision in the last paragraph of this Section 5.2, the Administrative Agent shall have received an original charge registration form (in Hebrew) (“Form 10”), executed and delivered by the Company (and its officers) and in acceptable form for filing with the Israeli Registrar of Companies.
Subject to the Limited Conditionality Provision, all actions necessary to establish that the Senior Credit Facilities Administrative Agent and the Bridge Administrative will have a perfected priority security interest (subject to liens permitted under the relevant Credit Facilities) in the Collateral under the Credit Facilities shall have been taken.
More Definitions of Limited Conditionality Provision
Limited Conditionality Provision means that, to the extent any Collateral (including the grant or perfection of any security interest therein) is not or cannot be provided on the Effective Date (other than the grant and perfection of security interests in (x) assets of the Borrower and any other Loan Party with respect to which a Lien may be perfected solely by the filing of a financing statement under the UCC or (y) Equity Interests, if any, of Xxxxxx Precision or any wholly-owned Material Domestic Subsidiary of Xxxxxx Precision with respect to which a Lien may be perfected by the delivery of certificates representing such Equity Interests (to the extent required to be pledged hereunder and received from the Borrower after its use of commercially reasonable efforts to do so)) after the Borrower’s use of commercially reasonable efforts to do so or without undue burden or expense, then the provision of such Collateral (including the grant or perfection of any security interest therein) shall not constitute a condition precedent to the effectiveness of this Agreement on the Effective Date or to the initial funding of Loans on the Effective Date and, notwithstanding any provisions set forth in Section 5.14 to the contrary, such Collateral shall not be required to be provided (including the grant and perfection of any security interest therein) until the ninetieth (90th) day following the Effective Date (or such later date as may be agreed upon by the Administrative Agent in its reasonable discretion).
Limited Conditionality Provision shall have the meaning specified in Section 4.2.
Limited Conditionality Provision shall have the meaning provided in Section 6.
Limited Conditionality Provision means that, to the extent any Collateral (including the grant or perfection of any security interest therein) is not or cannot be provided on the Revolving Commitment Increase Date (other than the grant and perfection of security interests (x) in assets of the Borrower and any other Loan Party with respect to which a Lien may be perfected solely by the filing of a financing statement under the UCC, (y) by intellectual property filings with the United States Patent and Trademark Office or the United States Copyright Office or (z) Equity Interests in any Subsidiary of any Loan Party with respect to which a Lien may be perfected by the delivery of certificates representing such Equity Interests (to the extent required to be pledged under the Loan Documents and received by the Borrower after its use of commercially reasonable efforts to do so)) after the Borrower’s use of commercially reasonable efforts to do so or without undue burden or expense, then the provision of such Collateral (including the grant or perfection of any security interest therein) shall not constitute a condition precedent to the effectiveness of the increase in Commitments on the Revolving Commitment Increase Date and, notwithstanding any provisions set forth in Section 5.09 to the contrary, such Collateral shall not be required to be provided (including the grant and perfection of any security interest therein) until the sixtieth (60th) day following the Revolving Commitment Increase Date (or such later date as may be agreed upon by the Administrative Agent in its reasonable discretion).
Limited Conditionality Provision the provision set forth on Schedule 1.01(e).
Limited Conditionality Provision means that, to the extent any Collateral (including the grant or perfection of any security interest therein and the delivery of any insurance certificate or endorsement) is not or cannot be provided on the Trigger Date (other than the grant and perfection of security interests in (x) assets of the Borrower and any Subsidiary Guarantors with respect to which a Lien may be perfected solely by the filing of a financing statement under the UCC or (y) certificated Equity Interests of wholly-owned Domestic Subsidiaries (other than VSI or any of its subsidiaries) with respect to which a Lien may be perfected by the delivery of certificates representing such Equity Interests) after the Borrower’s use of commercially reasonable efforts to do so without undue burden or expense, then the provision of such Collateral (including the grant or perfection of any security interest therein) shall not constitute a condition precedent to the funding of the Term Loans on the Trigger Date and, notwithstanding any provisions set forth in Section 5.09 to the contrary, such Collateral shall not be required to be provided (including the grant and perfection of any security interest therein) until the thirtieth (30th) day (in the case of the delivery of certificated Equity Interests) and otherwise the ninetieth (90th) day following the Trigger Date (or, in each case, such later date as may be agreed upon by the Administrative Agent in its reasonable discretion).
Limited Conditionality Provision has the meaning specified in Section 4.1. “Loan Documents” means this Agreement, the Collateral Documents, the Fee Letters, the ABL Intercreditor Agreement, any Acceptable Intercreditor Agreement or any other intercreditor agreement entered into by the Administrative Agent at any time in connection with this Agreement or any Collateral Document, any Note evidencing any Obligations, and any other agreements, instruments, and documents to which one or more Loan Parties is a party that, for any such other agreement, instrument or document entered into after the Agreement Date, expressly states that it is to be treated as a “Loan Document” hereunder, and any amendments, modifications or supplements hereto or any other Loan Document or waivers hereof or to any other Loan Documents. “Loan Parties” means, collectively, the Borrower and each Guarantor. “London Banking Day” means any day on which dealings in Dollar deposits are conducted by and between banks in the London interbank eurodollar market. “Long-Term Indebtedness” means any Indebtedness that, in accordance with GAAP, constitutes a long-term liability. “Margin Stock” has the meaning set forth in Regulation U of the FRB. “Master Agreement” has the meaning specified in the definition of “Swap Contract”. “Material Adverse Effect” means the effect of any event or circumstance that, taken in conjunction with other events or circumstances, (a) has a material adverse effect on the business, operations, properties, or financial condition of the Borrower and its Restricted Subsidiaries, taken as a whole, on the value of the Collateral, taken as a whole, on the enforceability of any Loan Documents, or on the validity or priority of the Administrative Agent’s Liens on any material portion of the Collateral; (b) creates a material impairment on the ability of any Loan Party to perform its obligations under the Loan Documents, including repayment of any Obligations; or (c) has a material adverse effect on the ability of the Administrative Agent or any Lender to enforce or collect the Obligations or to realize upon any material portion of the Collateral. “Material Contract” means any agreement or arrangement to which any Loan Party or Subsidiary thereof is party (other than the Loan Documents) (a) for which breach, termination, nonperformance or failure to renew could 29