ULC definition
Examples of ULC in a sentence
Pledge of Securities 8 Section 2.01 Pledge 8 Section 2.02 Delivery of the Pledged Collateral 9 Section 2.03 Representations, Warranties and Covenants 10 Section 2.04 Certification of Limited Liability Company and Limited Partnership Interests 12 Section 2.05 Registration in Nominee Name; Denominations 13 Section 2.06 Voting Rights; Dividends and Interest 13 Section 2.07 ULC Shares 15 Article III.
Therefore, notwithstanding any provisions to the contrary contained in this Agreement, the Credit Agreement or any other Loan Document, where a Grantor is the registered owner of ULC Shares which are Collateral of such Grantor, such Grantor will remain the sole registered owner of such ULC Shares until such time as such ULC Shares are effectively transferred into the name of the Collateral Agent, any other Secured Party, or any other Person on the books and records of the applicable ULC.
Each Grantor acknowledges that certain of the Collateral of such Grantor may now or in the future consist of ULC Shares, and that it is the intention of the Collateral Agent and each Grantor that neither the Collateral Agent nor any other Secured Party should under any circumstances prior to realization thereon be held to be a “member” or a “shareholder”, as applicable, of a ULC for the purposes of any ULC Laws.