Sonab definition
Examples of Sonab in a sentence
Sonab shall maintain, or cause to be maintained EBITDA for each period of four consecutive fiscal quarters of Sonab ending on or about the dates set forth below of not less than the amount set forth below opposite such dates.
The projections of the nature requested in clauses (i) through (iii) above shall also set forth such information with respect to each of the outlet stores and Sonab.
In addition to the foregoing, each Borrowing Base Certificate shall set forth (or shall be accompanied by a certificate of a Designated Officer of the Company setting forth) the aggregate unpaid principal balance of all loans or advances from the Company to Sonab at such time.
Notwithstanding anything to the contrary set forth herein, Sonab shall be permitted to make payments of salary and other compensation (including bonuses) to (i) ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ pursuant to the terms 116 of the Gelbfarb Service Agreement and (ii) other full time employees of Sonab so long as such payments are paid in the ordinary course of Sonab's business and are consistent with Sonab's past practices.
In addition to the foregoing, the Company shall be permitted to pay ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ and other full time employees of Sonab bonuses and other compensation pursuant to the terms of the Long Term Incentive Plan so long as such bonuses and other compensation are paid in the ordinary course of the Company's business and are consistent with the Company's past practices.
The Company shall cause Sonab to obtain the written approval of the Agent prior to entering into any employment agreement with an Affiliate of the Parent, the Company or any of their respective Subsidiaries.
None of the transactions contemplated by this Agreement, the other Loan Documents or any of the Sonab Acquisition Documents shall violate the Investment Company Act of 1940, as amended.
The foregoing provisions shall not apply to Sonab; provided, however, that Sonab shall not alter the nature of its business as conducted on the Fourth Amendment Effective Date in any material respect.
Each of the Parent and the Company shall cause Sonab to enter into and maintain lock box and/or cash management arrangements with the Agent and such other financial institutions that are acceptable to the Agent with respect to the receivables and other cash of Sonab, such arrangements to be substantially similar to the lock box and/or cash management arrangements of the Company as in existence on the Fourth Amendment Effective Date or otherwise in form and substance satisfactory to the Agent.
Neither the Parent nor any Subsidiary thereof is engaged in any joint venture or partnership with any other Person, except for the Investment in Sonab, Sonab Holdings or Sonab International permitted by Section 9.4(e) hereof.