Parent Group Members definition
Examples of Parent Group Members in a sentence
All audited financial statements of the Parent Group Members that are consolidated to include the Borrowers will contain notes clearly stating that (A) all of the Assets are owned by the Borrowers and (B) each Borrower is a separate legal entity.
Upon termination of the indemnification obligations under this Article VIII and reimbursement of the Parent Group Members of Losses and Expenses payable in respect thereof hereunder, the Indemnity Fund shall terminate and shall be distributed in accordance with the Indemnity Agreement after payment of any amounts therefrom due to the Indemnity Agent.
Each of the Parent and the Company hereby agree and covenant to use commercially reasonable best efforts to cause the other Parent Group Members and Company Group Members, respectively, to comply with the provisions of this Agreement.
Therefore, from and after the date of execution and delivery of this Agreement, each GWG Party shall take all reasonable steps including, without limitation, all steps that the Agent or the Lender may from time to time reasonably request to maintain the a Borrower’s identity as a separate legal entity and to make it manifest to third parties that such Borrower is an entity with assets and liabilities distinct from those of the Parent Group Members.
Nothing in this Agreement, express or implied, is intended to or shall confer upon any other person any right, benefit or remedy of any nature whatsoever under or by reason of this Agreement other than the Buyer Group Members and the Parent Group Members who shall be third party beneficiaries with respect to Article XI.
I have examined and relied upon such corporate records and certificates of officers of the Parent Group Members, certificates of public officials and the representations and warranties of the Parent Group Members in the relevant Transaction Documents, and have made such examination of law as I deemed relevant to the opinions set forth herein.
Therefore, from and after the date of execution and delivery of this Agreement, each GWG Party shall take all reasonable steps including, without limitation, all steps that the Agent or the Lenders may from time to time reasonably request to maintain the Borrower’s identity as a separate legal entity and to make it manifest to third parties that the Borrower is an entity with assets and liabilities distinct from those of the Parent Group Members.
All audited financial statements of the Parent Group Members that are consolidated to include the Borrower will contain notes clearly stating that (A) all of the Assets are owned by the Borrower and (B) the Borrower is a separate legal entity.
Each GWG Party acknowledges that the Lenders are entering into the transactions contemplated by this Agreement in reliance upon the Borrower’s identity as a separate legal entity from the Parent Group Members.
Each GWG Party acknowledges that the Lender is entering into the transactions contemplated by this Agreement in reliance upon the Borrower’s identity as a separate legal entity from the Parent Group Members.