Parent SPE definition
Examples of Parent SPE in a sentence
None of Borrowers, Parent Borrower nor Parent SPE shall: (i) make any advance, loan, extension of credit or capital contribution to, or purchase any stock, bonds, notes, debentures or other securities of or any assets constituting a business unit of, or make any other investment in (any of the foregoing, an “Investment”), any Person; or (ii) form any Subsidiaries (other than formation of any Subsidiary which is a Borrower hereunder and joined to this Loan Agreement pursuant to Section 2.12 hereof).
Each Borrower shall ensure that all Equity Interests of such Borrower shall continue to be owned by Parent SPE or Parent Borrower, as applicable.
Borrower shall ensure that all Equity Interests of Borrower shall continue to be owned by Parent SPE.
Parent SPE shall, at its sole cost and expense, take all such other steps as may be necessary in connection with the preservation of Lender’s rights to and interests in the Parent Borrower Pledged Equity.
Each Borrower and Parent SPE is in compliance with the requirements of Section 12.
This Loan Agreement is the result of negotiations among, and has been reviewed by counsel to, Calculation Agent, Paying Agent, Lender, Borrowers, Parent Borrower, Parent SPE and Guarantor, and is the product of all parties.
If any sums of money or property so paid or distributed in respect of the Pledged Equity shall be received by a Borrower, Parent Borrower or Parent SPE, as applicable, such Borrower, Parent Borrower or Parent SPE, as applicable, shall, until such money or property is paid or delivered to Lender as required hereunder, hold such money or property in trust for Lender.
Parent Borrower is a Special Purpose Entity wholly owned by Parent SPE.
Each Borrower shall ensure that neither the Equity Interests of such Borrower or Parent SPE nor any property or assets of Borrower or Parent SPE are pledged to any Person other than Lender (or a Mezzanine Lender pursuant to any Mezzanine Financing Facility).
This Loan Agreement is the result of negotiations among, and has been reviewed by counsel to, Administrative Agent, Calculation Agent, Paying Agent, Borrower, the Eligible Property Owners, Parent SPE, Guarantor and Asset Managers, and is the product of all parties.