Tower Borrower definition
Examples of Tower Borrower in a sentence
Such Person and its Affiliates may accept deposits from, lend money to, own securities of, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business with the Tower Borrower, Holdings, the Company Borrower or any of their respective Subsidiaries or other Affiliate thereof as if such Person were not the Administrative Agent hereunder and without any duty to account therefor to the Lenders.
Without limiting in any way the generality of the foregoing, the Tower Borrower Release may be effected by the Tower Borrower assigning to the Company Borrower, and the Company Borrower assuming from the Tower Borrower by novation, all rights and obligations of the Tower Borrower under the Loan Documents, or other release transaction designed to achieve similar effect.
The obligations of the Guarantors under this Section 7 shall be automatically reinstated if and to the extent that for any reason any payment by or on behalf of the Tower Borrower, the Company Borrower or any other Loan Party in respect of the Guarantor Obligations is rescinded or must be otherwise restored by any holder of any of the Guarantor Obligations, whether as a result of any proceedings in bankruptcy or reorganization or otherwise.
Enter into any merger, consolidation or amalgamation, or liquidate, wind up or dissolve itself (or suffer any liquidation or dissolution), or Dispose of all or substantially all of its property or business, except in connection with the Tower Borrower Release.
Either Tower Borrower or Garage Borrower is the owner and holder of landlord’s interest in each Lease affecting the Properties or any portion thereof.
For the avoidance of doubt, all other property of the Tower Group Members, including any Tower LLC Spread and proceeds thereon, shall be either (i) transferred to Holdings, the Company Borrower and/or the Company Subsidiary Guarantors or (ii) transferred to Onex or an affiliate thereof subject to the continuing Lien of the Administrative Agent in favor of the Secured Parties, in each case upon the consummation of the Tower Borrower Release.
The Master Tower Lease constitutes the legal, valid and binding obligation of Tower Borrower and is enforceable against the Operating Partnership.
Declare or pay any Restricted Payment, other than Restricted Payments or returns of capital paid to the Tower Borrower or Tower LLC.
Enter into any Swap Agreement, except Swap Agreements entered into in order to effectively cap, collar or exchange interest rates (from fixed to floating rates, from one floating rate to another floating rate or otherwise) with respect to any actual or reasonably anticipated interest bearing liability or investment of the Tower Borrower or the Tower LLC.
Tower Borrower shall, as of the date hereof, enter into a Lease (the “Master Tower Lease”) with the Operating Partnership for the approximately 152,166 square feet of space at the Tower Parcel that is presently being leased to ▇▇▇▇▇ Day (the “Vacant Tower Space”), for a term commencing on November 4, 2006 and expiring on the date that is five (5) years from the date hereof (or August 7, 2011) and otherwise in form and substance satisfactory to Lender.