Primary Borrowers definition
Examples of Primary Borrowers in a sentence
The Primary Borrowers shall reimburse the Administrative Agent for its reasonable out-of-pocket expenses incurred in connection with this Amendment, including the reasonable fees and expenses of Cravath, Swaine & ▇▇▇▇▇ LLP, counsel for the Administrative Agent.
None of the Primary Borrowers or the Borrower General Partners shall, nor shall such Credit Parties permit any other Credit Party to, change its fiscal year without prior notice to the Administrative Agent or change its method of accounting other than in accordance with the terms of the Partnership Agreement (so long as such method is based on Generally Accepted Accounting Principles).
Except as otherwise permitted under Section 8.04, at all times (a) each of the Primary Borrowers (other than FMCAG) shall be a Wholly Owned Subsidiary of FMCAG and (b) NMC shall be a Wholly Owned Subsidiary of FMCH.
Each Borrowing and each issuance, amendment, renewal or extension of a Letter of Credit shall be deemed to constitute a representation and warranty by the Primary Borrowers on the date thereof as to the matters specified in paragraphs (a) and (b) of this Section.
The foregoing notwithstanding, Lender shall not issue any press releases concerning this transaction without Primary Borrower's prior written approval as to the content of such releases, which approval shall not be unreasonably withheld or conditioned, or unduly delayed.
Each such deposit pursuant to this paragraph or Section 2.11(b) shall be held by the Administrative Agent as collateral for the payment and performance of the obligations of the Primary Borrowers under this Agreement.
The Primary Borrowers also shall indemnify each Lender for all losses, costs and expenses suffered or incurred by such Lender as a result of the conversion of the currency of any Obligation pursuant to Section 9.01 or 9.02, including foreign exchange losses.
The foregoing covenant shall be tested quarterly, commencing December 31, 1999, concurrently with the delivery of Primary Borrower's quarterly and annual financial information to the SEC, and on the basis of the financial information reported to the SEC.
None of the Primary Borrowers or any General Partner shall change its fiscal year without prior notice to the Administrative Agent or change its method of accounting other than in accordance with (or not in violation of) the terms of the applicable Constituent Documents (so long as such method is based on Generally Accepted Accounting Principles).
As of the Effective Date, there are no strikes, lockouts or slowdowns against the Parent Borrower or any Subsidiary pending or, to the knowledge of the Primary Borrowers, threatened, except as would not reasonably be expected to have a Material Adverse Effect.