Parent Pledgors definition
Examples of Parent Pledgors in a sentence
Opinions of counsel to the Borrower, the Assignor, the Parent Pledgors, the Predecessor Parent Pledgor, the Servicer, the Portfolio Manager, the Guarantor, the Initial Servicer, the Initial Portfolio Manager, the Custodian and the Securities Intermediary, in form and substance satisfactory to the Administrative Agent.
The Agent shall have received legal opinions from Borrower’s Counsel and Lenders’ Counsel, in respect of the Obligors, and from counsel to each of the Parent Pledgors, each in form and substance reasonably satisfactory to the Agent, acting reasonably.
The Agent (or Lenders’ Counsel) shall have received a certificate of status or good standing certificate (or equivalent) for the Borrower and the Parent Pledgors from each of their respective jurisdictions of organization.
Each of the Issuers and each of the Parent Pledgors has all requisite corporate power and authority or limited-liability company power and authority, as applicable, to execute and deliver, and to perform its obligations under, each of the Transaction Documents to which it is a party and to consummate the transactions contemplated thereby.
On or prior to the Closing Date, each of the Parent Pledgors and the Issuers and, to the knowledge of the Issuers, each other party to the Transaction Documents (other than the Initial Purchasers) shall have performed or complied in all material respects with all of the agreements and satisfied in all material respects all conditions on their respective parts required to be performed, complied with or satisfied as of or prior to the Closing Date pursuant to the Transaction Documents.
The Borrower, the Assignor, the Predecessor Parent Pledgor and Parent Pledgors shall not become an “investment company” or a company “controlled” by an “investment company” within the meaning of the Investment Company Act of 1940, as amended.
On or prior to the Closing Date, each of the Parent Pledgors, the Issuers and the Guarantors and, to the knowledge of the Issuers, each other party to the Transaction Documents (other than the Initial Purchaser) shall have performed or complied in all material respects with all of the agreements and satisfied in all material respects all conditions on their respective parts required to be performed, complied with or satisfied as of or prior to the Closing Date pursuant to the Transaction Documents.
Each of the Parent Pledge Agreements is the legal, valid and binding obligation of each of the Parent Pledgors party thereto, enforceable against each of the Parent Pledgors party thereto in accordance with its terms.
Copies of UCC-1 financing statements and any UCC-3 financing statement amendments, as applicable, and a form C-1 suitable for filing with the Irish Register of Companies, in form and substance satisfactory to Administrative Agent, to be filed on or before the Amendment Closing Date, naming each of the Borrower, the Assignor, the Predecessor Parent Pledgor and the Parent Pledgors as debtor, and, as appropriate, the Administrative Agent, for the benefit of the Secured Parties, as secured party.
The Parent Pledgors shall have made equity contributions (including KKR Preferred Equity) to the Borrower in an aggregate amount sufficient to ensure that the Pro Forma Debt to Capitalization Ratio will not exceed 27.5%.