SPE Subsidiary definition

SPE Subsidiary means any Subsidiary formed solely for the purpose of, and that engages only in, one or more Securitization Transactions.

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SPE Subsidiary means a direct or indirect Subsidiary of the Borrower to which any Obligor sells, conveys or otherwise transfers (whether directly or indirectly) Portfolio Investments, which engages in no material activities other than in connection with the purchase, holding, disposition or financing of such assets and which is designated by the Borrower (as provided below) as an SPE Subsidiary:

SPE Subsidiary means a direct or indirect Subsidiary of the Borrower to which any Obligor sells, conveys or otherwise transfers (whether directly or indirectly) Portfolio Investments, which engages in no material activities other than in connection with the purchase or financing of such assets and which is designated by the Borrower (as provided below) as an SPE Subsidiary:

Examples of SPE Subsidiary in a sentence

• To the knowledge of the SPE, neither the SPE nor any SPE Subsidiary has received from any insurance company any notices of cancellation or intent to cancel any insurance.

• To the knowledge of the SPE, the SPE and each SPE Subsidiary have conducted their business in compliance with all applicable Laws, except for such failures that would not, individually or in the aggregate, reasonably be expected to have a SPE Material Adverse Effect.

• There is no action, suit, or proceeding pending or, to the knowledge of the SPE, threatened against or affecting the SPE, SPE Subsidiary or any officer, director, principal, managing member, general partner or Affiliate of any of the foregoing, which challenges or impairs the ability of the SPE to execute or deliver, or materially perform its obligations under, this Agreement and the documents executed by it pursuant to this Agreement or to consummate the transactions contemplated hereby or thereby.

• Each SPE Subsidiary, to the extent required under applicable Laws, is qualified to do business and is in good standing in each jurisdiction in which the nature of its business or the character of its Property make such qualification necessary, other than such failure to be so qualified as would not, individually or in the aggregate, reasonably be expected to have a SPE Material Adverse Effect.

• Prior to the Effective Time of the Merger contemplated hereby, none of the SPE or any SPE Subsidiary shall take or omit to take any action to cause any Lien to attach to any Property, except for Permitted Liens and Liens, if any, given to secure mortgage indebtedness encumbering such Property.

More Definitions of SPE Subsidiary

SPE Subsidiary means a special purpose Subsidiary of the Borrower established solely for the purpose of owning a parcel of real property for permanent financing purposes.

SPE Subsidiary means each of Opportunity Funding SPE II, LLC, Opportunity Funding SPE III, LLC, the Ares Borrower and any other special purpose entity owned, directly or indirectly, by the Company and established in connection with a financing or securitization transaction.

SPE Subsidiary means an SBIC Subsidiary or a direct or indirect Subsidiary of the Borrower with respect to which (other than pursuant to Standard Securitization Undertakings):

SPE Subsidiary means a special purpose entity that is a wholly owned subsidiary of the Borrower, created for the sole purpose of, and whose only business shall be, acquisition of Permitted Securitization Transaction Assets pursuant to a Permitted Securitization Transaction and those activities incidental to the Permitted Securitization Transaction.

SPE Subsidiary means any Subsidiary formed solely for the purpose of, and that engages only in, one or more Securitization Transactions. “Standard & Poor’s” shall mean Standard & Poor’s, a division of the McGraw-Hill Companies.

SPE Subsidiary means any direct or indirect Subsidiary of the Company to which an Obligor sells, conveys or otherwise transfers (whether directly or indirectly) Portfolio Investments, and which engages in no material activities other than in connection with the purchase or financing of such assets and other Portfolio Investments and which is designated by the Company as an SPE Subsidiary, so long as:

SPE Subsidiary means any Subsidiary of the Borrower that (a) (i) is a bankruptcy remote or other special purpose Subsidiary which engages in no material business other than owning Non-Recourse Assets, pledging or transferring interests in such Non-Recourse Assets and/or issuing or incurring Non-Recourse Indebtedness or (ii) has no material assets other than Equity Interests of one or more Subsidiaries described in clause (i) and (b) is prohibited or restricted by organizational or governing documents from guaranteeing the Indebtedness of the Borrower hereunder.